An effective human resources development program is essential to employee retention. When proper training is continuously provided, efficient workflow occurs, increasing productivity. One of the activities of human resource development is to teach on-the-job skills for employees.
How to prepare human resources to success in the competitive business environment?
We can develop new breed of HR by considering the following Porter 5 Forces in individual's micro-view & not business / organizational macro-view e.g.
Competitive Rivalry ==> Individual job rivalry i.e. who are competing with you to take up a particular job / what are your differentiators?
Bargaining Power of Suppliers ==> university an individual studied before / ranking of the university, quality of the courses, strategic fit between students studied in that university & job employment opportunity etc.
Bargaining Power of Customers ==> job description / requirement from future employers
Threats of New Entrants ==> e.g. workforce from foreign countries, new generation of workforce e.g. how Gen-Y, Gen-Z workforce are competing with Gen-X workforce etc.
Threat of substitute Products ==> any new threat that might replace the job e.g. automation of your job by robotic process automation, new jobs that replace your current job or make your current job obsolete e.g. standby operator instead of taxi / bus drivers in automated / self-driving vehicles etc.
There is a significant shift underway in the marketplace and organizations facing major transformation challenges or they will be disrupted. Perhaps the biggest is the reinvention of support/professional service functions. HR needs a deep understanding of the business they are in. They need to understand the role of finance, marketing and communications, risk, etc. in order to remain relevant. We are seeing too many professionals with best practices in their field that do not work in the marketplace. I believe you will see greater inter-disciplinary practice within organizations what will require professional functions to work differently.
Tackling to retain best brains , provide opportunities for growth and package in terms of salary ,latest export rules and regulations requirements and competitive environment handling in every situations
The issue of determinants shaping Human Resources Development is increasingly being examined in the context of globalization and internationally operating corporations. So if we study the issues related to personnel management and staff improvement in a specific company in this way, many issues related to the specificity of the functioning of a particular company operating in the examined, described environment of a given entity should be taken into account. Therefore, in order to improve Human Resources Development in a specific company operating under competitive conditions, textbook principles should be applied shaping the issue of Human Resources Development, taking into account practical, local, environmental, corporate conditions, i.e. related to the culture of the organization functioning in a given company, region, country e.t.c.