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Because of the growing attrition rate there is greater
focus on CPM by all companies. The companies find it difficult
to hire the employees as there is no skills set match at
the recruitment stage. This is one side of the coin; the
other side is of retaining the employees, besides poaching
them from rival companies. Likewise, problems are getting
manifold at the corporate level. The companies are conducting
regular workshops, seminars and training sessions in order
to upgrade the skills and abilities of their employees in
enhancing efficiency and efficacy. Growing competition and
rapid changes in technology are also compelling the corporates
to train and groom their employees regularly.
The Human Resources Department (HRD) that basically involves
the employees from recruitment to retirement is gradually
reinventing its role by focussing more on the development
of professionals apart from their traditional role. The
roles and responsibilities of HRD are getting expanded with
the fast changing business environment. Liberalization,
privatization and globalization have opened up the Indian
economy. As a result, MNCs have come and competed with the
Indian companies. Initially, Indian companies were worried
with the onslaught of the MNCs, but gradually Indian entrepreneurs
realized that there was no way out of it and began competing.
Although there were many initial hiccups, things have gradually
settled and the hidden potential of Indian business has
come out. Now, we find Indian MNCs across the world, which
is a positive and victorious sign. All these contributed
to the specialization of each area and line of professional
activities. There is growing professionalism in each and
every area of business. So is the case with each and every
department of every institution. HRD began concentrating
and expanding the roles and responsibilities related to
career planning and management of its precious human resources
to make it effective and efficient to check rising attrition.
Acronym for Strengths, Weaknesses, Opportunities and Threats,
it is an effective tool either to evaluate career prospects
or to solve day-to-day problems. It is widely used in all
spheres of personal and professional life, be it for individuals
or for institutions. An individual SWOT analysis goes something like this: The
person who passes out of his college and intends to search
for the right placement should evaluate his strengths, such
as academic qualifications, achievements, and research papers,
if any. Academically, he should analyze his aptitude, attitude,
tastes and temperaments and should list out his distinctions,
if any (e.g., class first, gold medal, etc.). He should
identify his strengths and capitalize on them. Coming to
the weaknesses, he should analyze the subjects or areas
where he is weak and see if he can convert them into strengths.
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