Term Paper Report on Evolution And Innovations in H.R. Roles in 21st century : Mr. Jatin Verma

Report Description :

Evolution And Innovations in H.R. Roles in 21st century (Term Paper Report) made by Mr. Jatin Verma, submitted to School of Business Management, Noida International University, GB Nagar, UP, INDIA.

Conclusion:

I, pursuing MBA an alumni of Noida International University reached on the conclusion from my research I conducted for my Term Paper assignment on January 12, 2023 that, todays world is very dynamic and changing in nature. New innovations and evolutions are affecting the industries and economy very frequently.

The only way to survive in this dynamic environment and multi-dimensional economy is evolving self characteristics as per the need of the environment and being flexible to adopt modern innovations. Human resource means workforce and Human Resource managers plays a major role in todays arena and “arena” because today’s world is full of competition. Human Resource roles are also getting evolve and innovated from modern innovations and these innovations effects organization and economy positively as well as negatively.

Evolution and innovations are one of the most powerful tools used by the organization, Human Resource managers, economies and engineers since it should to be opted very carefully and promptly.

Impact of evolutions and modern innovations in Human resource management and human resource roles in 21st century :

1 Face-to-face communication decrease : Most of the employees, staff and managers use communicative software, skype, messenger, WhatsApp, etc. during business working times. Even they are in the office they communicate with each other by chatting via technological software. This is one of the bad effects of modern technology on the business, it reduces the regular communication between the business staff and employees. Instead of walking to the employee disk and talking to them, they use technology to communicate with them.

2 Hacking and stealing of business data : Hackers and competitors hack the businesses and steal precious data and information, and sold it to the competitors by which the businesses face failures. It happens a lot with businesses. Businesses ‘ security is compromised by hackers, and they steal their precious data. Its harder to manage the security of businesses, where mostly the computer and internet technology are used.

3 Interdependency : Modern technology dependency is also the negative impact of technology on businesses. The excessive usage of modern technology makes the employees and workers dependent on modern technology in working. It happens a lot with businesses. They get addicted and 29 dependent on the usage of modern technology. Without the usage of modern technology, they are unable to do even a simple task by themselves. In short, they are useless without the usage of modern technology.

4 Expensive modern technology : As we all know that technology is updating day by day, in everything technology is used, and will be used more effectively in the future. In today’s modern world, every business has to update and use technology to improve its productivity and profit of the business. But the problem is that modern technological gadgets and devices are very expensive, and not every business can afford them.

5 Maintenance problems: Maintenance of the technology also has a negative impact of the technology on business. Technological devices and gadgets are developed and designed by scientists and professional developers. If errors and bugs come into it, then it needs professionals to fix it, not everyone can understand it. And most of the business workers and employees are not professional developers or scientists. They only use it for their work.

6 Employee cheat and dishonesty : 30 Most employees and workers cheat on their jobs and employments, by sharing business secret information with competitors for money. It opens the possible doors of cheating and fraud for the employees and workers of the company’s businesses.

7 Modern technology can help you in grow your business : Modern technology has helped many businesses to grow. It is used to improve business processes, which results in improving productivity and profitability by facilitating decision-making, communications, and information gathering. Technology has also enhanced customer service and delivery of products and services. With the help of internet technology, businesses can become successful from local to international customers. It doesn’t take a grand office or big staff to prosper a company.

8 Online websites for business : Individuals seek to shop online to find the best deals on the internet. An excellent site with user-friendly and concise content can offer precise information and help improve business.

9 Modern technology in marketing : Internet technology has allowed businesses to reach more consumers and grow their company businesses. Since more people are using the internet, it is a great way to advertise without spending a lot of money. Many businesses have started using social media as a way to promote their business and connect with their customers.

10 Time ands money saving : 31 By using the technology, you will be able to save time and money on the project development process because it will help you to avoid redundant tasks and will reduce your labor costs as well.

11 improve business strategies : In the past decade, there have been immense improvements in business strategies, which in turn has had a positive impact on businesses. One of the most notable changes is the increased use of technology, technology has allowed businesses to be more efficient and productive.

Although as we notice and study above that, modern technology and innovations boosts the industries and economies on one hand but also affect negatively on other hand which shows that innovations are useful for nations and industries to grow but not on the cost of loss on economy and confidentiality.

Expected evolution in 21st century :

Expected evolution in 21st century in modern world which might affect human resource roles as per beliefs, I mentioned below. There are plethora of changes and new innovations expected from 21st century in Human Resource Management roles. Upto 2022 , we notice so many evolutionary innovations and changes in all the fields and sectors and still so many start-ups and new innovations plans are in the way to get established soon such as heavy machinery with artificial intelligence such as IBM corporation, Nvidia corporation, Alphabet, Inc. etc., online meeting platforms with extended features, and so on, we get on the conclusion that it is not even possible to predict upcoming highly innovative 21st century. But due to some common analysis of current scenario, at some extent, it is possible to predict in which forms we are going to face new innovations worldwide.

All the industries all over the work get a huge change in the management and functioning after the COVID-19 pandemic of 2019 as stated by : Synopsis: Impact of COVID 19 across Industry Sectors - An Exploratory Study Author: Dr. Giribala Dewasthale, Assistant Professor, DES’s IMDR, Pune. Dr. Giribala Dewasthale(Assistant professor, DES’sIMDR, Pune),(2019), Impact of Covid 19 across Industry Sectors, synopsis…………………………………………………………..[7] 78% respondents acknowledged that the pandemic had a negative impact on business operations.

The top 3 challenges appear to be difficulty in staying connected with customers, reduction in corporate spending and decrease in productivity due to remote 24 work. Sales have seen a sharp decline due to travel restrictions, social distancing, restrictions on sale of some commodities and customers resorting to budget cuts and putting projects on hold. Companies are struggling to recover fixed costs in the absence of revenue generation due to sharp drop in sales. Increase in costs are due to enablement of digital platforms, increased freight and cartage costs and increased costs of raw materials. Focusing on existing customers and building collaborative relationships is the new normal. Communication has shifted from face to face to online, voice calls, video conferencing, social media and virtual platforms. Virtual modes of communication seem inadequate to generate new business. It seems that businesses require at least one face to face interaction to build trust and commitment. Going forward it would seem that businesses and their stakeholders must face up to some harsh realities and prepare for them. Operations and supply chain managers must prepare for possible increase in the cost of raw materials and think of new distribution models. Human resource managers must brace themselves for lay-offs and prepare the workforce for remote working. It appears that consumer sentiment will see an uptick only post Diwali. Interventional practices of Artificial Intelligence in machinery and Human Resources such as performed by Microsoft, Alphabet inc, Tesla, Tata elxsi, etc. showed a huge growth in 2022 in all over the world. Work from home practice results in high performance, healthy relationships in HR, Satisfying workforce and so on after covid-19, is still at the boom and more and more companies shifts their working environment towards remote jobs. Introduction Heavy machinery nowadays is even able to perform the work of more than one employee at the lower cost in less time which attracts other industries and companies 25 to adapt their manufacturing and working environment but on the other hand also results in increased unemployment and high competition But due to all these innovations and changed perception of new youth, todays youth is focused on being entrepreneur which also expected to affect upcoming situations. And so on. By analysing all these and other evolution up to 2022, I get on the conclusion that, our 21st century is expected to get innovations and evolutions in at least below mentioned aspects which effect human resource management. Increasing demand of remote jobs get more. Artificial intelligence will take over a big share in the market of human resource. Heavy machinery will substitute all non technical or low educational and experience holder employees. High unemployment in under-developing countries like India tends to rise which results in cheaper blue kolor employees. Increased competition in Business and investment sector due to entrepreneurial mindset of the youth provides new opportunities to the economy which reflects in higher economic development. Increased demand for programmers and technical employees. Risk to data theft, will get increased which attracts IT companies to get into new market segments and earn from them. Due to high secrecy and confidentiality, block chain related medium of currency generally also known as crypto currency, e currency and digital rupee will become a common medium of exchange in the international market. 26 New market segments will expands upto and across the boundaries of one nation which enables and give chances to employees to get into the employee network with multi national companies more easily. Increasing Scarcity of resources will restrict all the industries to somehow, but their trade get more wider than ever before . Due to that much ups and down in the human resources, a major amount of human resource roles and managers tends towards the use of technical and non technical hr software. Due to that much quick variation in the geographical range of the industries, special programs and events related to training and development get on the trend for not only employees but also employers. Smart approaches will get introduced in the market for HRM which attracts new scholars and researchers. Due to increasing level of pollution worldwide day by day, a part of compensation will also get adjusted with their medical and healthcare incentives. Due to new changes in the management and strictly on HR, political forces will definitely start interventions in industries which derives new legal and political aspects for the HRM of the organization. Although we don’t know about the height of the evolution and innovations but one thing is crystal clear that : This changing environment will definitely at some extent affect the perception and perception of workforces or employees which leads them towards low relationship management and high stressful job profiles which will definitely been to resolve as well. 27 And this is only possible by a great focus on training and development programs for not only employees but also employer along with mangers of the organization. All the information provided above is best of my knowledge and beliefs I earned while being an management student and from my past educational career.

Noted - This report is already submitted and having its legal presence from UGC INDIA. This report is available to use for reference material, studying concepts, exploring new theories and predictions, for the purpose of research and thesis, HRM Strategies study material, etc.

Copying this study, Research and report is strictly prohibited. This report is only available on the network for the Societal Welfare and Human Development purposes.

All the credits and reward are dedicated to Mr. Jatin Verma to Present this Industry Analysis Report for the purpose of Societal Welfare and Human Development purposes.

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