&nbsp;Human Resource Development is the term used to describe the process of developing human resources. Human Resource Management is a philosophy, whereas Human Resource Development refers to the activities and processes that promote the intellectual, moral, psychological, cultural, social, and economic development of individuals in organizations in order to help them reach their full human potential as community resources. It is a constant process in which personnel are aided in developing their abilities in a systematic manner.
Human Resources Management is responsible for maximizing efficiency and profit, but in the new environment, the function of HRM is changing Because of developments in government policies, unions, labour laws, and technology, the role of HR managers is fast evolving. Organizational trends, human resource planning, job design, motivation, recruitment, skill development, and employee interactions have all been observed. Human Resource Management may effectively address the difficulties if correct solutions are used. As a result of the changing environment, Human Resources Management will play a larger role in the future. This study aims to explain the current state of human resource management.&nbsp;
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Mullapudi, Ms. Bhargavi

Pinakapani, Peri

Sridhar, Dr. P.

English

The journal of contemporary issues in business and government

Journal of Contemporary Issues in Business and Government Vol. 28, No. 04, 2022  https://cibgp.com/                                                                               P-ISSN: 2204-1990; E-ISSN: 1323-6903                                 DOI: 10.47750/cibg.2022.28.04.079  1044   The Role of Human Resources Management in Present Scenario  1.Ms. Bhargavi Mullapudi,2. Dr. P. Sridhar, 3. Prof.Peri Pinakapani Ms.Bhargavi Mullapudi, Research Scholar, Department of GITAM Hyderabad Business School, GITAM (Deemed to be University), HyderabadCampusEmail.bmullapu@gitam.eduM.No.+9173963154682. .Dr. P. Sridhar   Assistant Professors, Department of GITAM Hyderabad Business School, GITAM (Deemed to be University), Hyderabad Campus.Rudraram, Telangana State, India email.spinnint3@gitam.edu M.No +917659072485 Prof.Peri Pinakapani, Professor, Department of GITAM School Business Hyderabad, GITAM (Deemed to be University), Hyderabad Campus.Rudraram, Telangana State, India email. pinakapani.peri@gitam.edu M.No +919948095041  Abstract: Human Resource Development is the term used to describe the process of developing human resources. Human Resource Management is a philosophy, whereas Human Resource Development refers to the activities and processes that promote the intellectual, moral, psychological, cultural, social, and economic development of individuals in organizations in order to help them reach their full human potential as community resources. It is a constant process in which personnel are aided in developing their abilities in a systematic manner. Journal of Contemporary Issues in Business and Government Vol. 28, No. 04, 2022  https://cibgp.com/                                                                               P-ISSN: 2204-1990; E-ISSN: 1323-6903   1045  Human Resources Management is responsible for maximizing efficiency and profit, but in the new environment, the function of HRM is changing Because of developments in government policies, unions, labour laws, and technology, the role of HR managers is fast evolving. Organizational trends, human resource planning, job design, motivation, recruitment, skill development, and employee interactions have all been observed. Human Resource Management may effectively address the difficulties if correct solutions are used. As a result of the changing environment, Human Resources Management will play a larger role in the future. This study aims to explain the current state of human resource management. Keywords: HRM, HRD, Cross Culture, HRM applications   Introduction Human resource management has now taken on strategic importance in the pursuit of corporate growth and excellence. Organizations must adapt to developments in technology and altering difficulties in human resource management as globalization progresses and we enter the information age. Planning, acquisition, and development of human resources, responding to workplace needs, and, above all, developing a strategy for coping with industrial conflict have all surfaced as essential challenges. It covers all of the traditional areas of personnel management and industrial relations, as well as the more recent areas of communication, counselling, training and development, and work enrichment, as a management practice. Human resource management is the process of developing human resources. Human resources management is a philosophy, whereas Human Resources Development refers to the activities and processes that are undertaken to promote the intellectual, moral, psychological, cultural, social, and economic development of individuals in an organization in order to assist them in reaching their full human potential as a community Journal of Contemporary Issues in Business and Government Vol. 28, No. 04, 2022  https://cibgp.com/                                                                               P-ISSN: 2204-1990; E-ISSN: 1323-6903   1046  resource. It is a continual process in which employees are helped to develop their skills in a systematic manner.  Definition of Human Resources Management. The most basic definition of Human Resources Management is the department inside a corporation or organization that manages the connection between employees and management. Human resources encompass a wide range of positions, responsibilities, and facets of company productivity and employee well-being, and each area of HR necessitates effective leadership. Why Human Resources Management is a Growing Industry. HR management is no longer what it once was. Some of the most important variables impacting the expansion and evolution of human resources are technology, workplace policies, and a changing market. The following are some instances of new and enhanced practices: HR uses resources like online job boards and social media to make recruiting faster, more efficient, and more effective in reaching out to a wide group of candidates. In order to be successful recruiters in today's climate, human resource managers will need to learn how to use these applications and websites. Inclusive practices – With the assistance of their HR departments, many companies have placed a stronger emphasis on the value of diversity, equity, and inclusion in the workplace, resulting in a safer and more inclusive work environment for employees, as well as improved hiring, training, and reporting practices. Training in new ways – Training has become increasingly reliant on technology, making it critical for HR managers to keep current. Digital training modules and streamlined communication via online messaging are examples of advancements in this industry. With remote work growing more prevalent, many employees may be trained from the convenience of their own homes. Journal of Contemporary Issues in Business and Government Vol. 28, No. 04, 2022  https://cibgp.com/                                                                               P-ISSN: 2204-1990; E-ISSN: 1323-6903   1047  Growing industries –  The digital business world is developing, and organizations are swiftly gaining traction and hiring more employees. These advancements are resulting in larger human resource departments for previously modest industries. With time, you may notice a large demand for HRM positions that did not exist previously. Digital marketing and social media are becoming increasingly crucial to a company's brand and image. Some HR departments are branching out into social media management, resulting in the emergence of a completely new industry. Trends in HRM The labour force of a company is drawn from the external labour market, which consists of people who are actively looking for work. HRM assists businesses in achieving and maintaining the best possible fit between their social and technological systems. Organizations want individuals with a diverse set of abilities and a high level of enthusiasm. For firms that rely on knowledge employees, recruiting and selection decisions are critical. Employees are given the authority and responsibility to make decisions about all aspects of product development and customer service. HR experts can help organizations achieve qualitative growth and efficiency by supporting organizational strategies. Organizations having international operations hire people who are familiar with the cultures and business practices of the countries in which they operate.  Information systems have become a tool for more HR workers in recent years, and these systems are frequently provided via the Internet. HRM applications are among the many programs that are widely used on the Internet. Organizations use the internet to find talent and screen candidates. Employees can receive training via the internet. The employment relationship is structured as a psychological contract that outlines the expectations of both employers and employees. Employees want flexible Journal of Contemporary Issues in Business and Government Vol. 28, No. 04, 2022  https://cibgp.com/                                                                               P-ISSN: 2204-1990; E-ISSN: 1323-6903   1048  work schedules, comfortable working environments, more autonomy, opportunity for training and growth, and financial incentives tied to performance. For HRM, the changes require planning for flexible staffing levels. Organizations seek flexibility in staffing levels through alternatives to the employment relationship. They may use outsourcing as well as temporary and contract workers HRM in Cross-Cultural Context Multi-cultural workforces have grown commonplace in today's workplaces. MNCs' immunity to cross-border market terrorism prompted domestic enterprises to engage in counter-insurgency and strategic warfare. It is critical for market success to team up with others in this race. Workplaces have come to represent multi-cultural communities, necessitating a greater demand for cross-cultural knowledge. Corporations' future competitiveness will be determined by their ability to effectively acquire and manage diverse people. Managers on international assignments will benefit from cross-cultural training to gain the cultural awareness they need to complete their job. Failures in negotiations and encounters are caused by cross-cultural disparities resulting in losses to the firms. The strategic role of HRM in strengthening and sustaining corporate growth has assumed paramount significance, the world over From increasing employee well-being to risk management, human resources is an important part of any business. This diverse field of work would lack structure and struggle to evolve over time without effective management. One of the best ways for a firm to assure employee satisfaction, productivity, and future growth is to have a robust HR department backed by competent leadership. A thriving company's basis is a happy workforce, and HR management is the glue that ties it together. Human Resources is critical in shaping, strengthening, and changing an organization's culture. Human Resources is responsible for such things as pay, performance management, training and Journal of Contemporary Issues in Business and Government Vol. 28, No. 04, 2022  https://cibgp.com/                                                                               P-ISSN: 2204-1990; E-ISSN: 1323-6903   1049  development, recruitment and onboarding, and reinforcing the company's values.  Hiring and Training New Employees Recruiting, employing, and training new employees are frequently the responsibility of an HR professional in a management role. This means that the HR department is in charge of locating individuals who fulfil the requirements for certain positions and thoroughly evaluating new personnel. Human resource managers are also expected to accept and promote diversity among employees, acclimate team members to their new work environment, and ensure that employees and organizational leadership have good interactions. But, when it comes to hiring and training, what exactly does a human resource manager do. The following are some of the most prevalent responsibilities for this type of HR manager:  Doing interviews and reviewing resumes   conducting background checks on applicants   supervising or directing training procedures   implementing innovative training approaches  writing job descriptions, advertising job advertisements, and recruiting possible candidates The bottom line –A human resources specialist is frequently the company's face to potential new workers. With the support of HR managers, recruitment, hiring, and training procedures are monitored and improved. Keeping Employees Safe and Happy Employee safety, health, and satisfaction are also the responsibility of a human resource department. Workplace regulations, with good HR management, maintain up with necessary protective measures and implementation, as well as providing solutions to difficulties between team members, reducing risk for the organization and its employees.  Creating workplace safety policies Journal of Contemporary Issues in Business and Government Vol. 28, No. 04, 2022  https://cibgp.com/                                                                               P-ISSN: 2204-1990; E-ISSN: 1323-6903   1050   Ensuring the organization follows federal and state occupational laws  Addressing employee concerns and complaints  Preventing and dismantling harassment or discrimination in the workplace  Managing employee relationships  Facilitating communication between leadership and employees An HR manager that specialises in employee relations may have the following responsibilities on a daily basis: Emerging Trends in Human Resources Management The bottom line – HR managers are in charge of many duties, but employee well-being should always remain a top priority. As a human resource manager, you’ll spend a lot of time speaking to employees, listening to concerns, and managing workplace relationships. The main goal of a successful, strategic HRM should be to ensure the staff feels safe, respected, and heard at all times.  Political  Increased demands for transparency in government and organization  Increasing dispersal of national power Narrowing of gaps in national power between developed and developing nations  Increase in the power of on-state actors (businesses, organizations such as the World Bank Economic  Increased government involvement in economic growth  Increasing gap between rich and poor individual  Rapidly increasing national debt to GDP ratios  Growth and increasing instability of sovereign wealth funds  Increase in state capital- ism  Journal of Contemporary Issues in Business and Government Vol. 28, No. 04, 2022  https://cibgp.com/                                                                               P-ISSN: 2204-1990; E-ISSN: 1323-6903   1051  Social  Internal and international migration are both common. People, companies, and cultures are becoming more interconnected.  The structure of the family is changing. Women's power is growing.  The population is ageing. Growth in the population  Increased social liberty Life is moving at a faster speed than ever before. Technological  The rate of technological advancement is quickening. Genomics  Life-style and work-life "digitalization"  Breakthrough or transformational technologies are technologies that have the potential to change the world.  Connectivity on a social, economic, and cultural level  Conclusion of the Study.  Human Resources Management's traditional functions must now be strategically directed toward developing and maintaining organizational capabilities through activities that overlap with traditional business functions like finance and marketing, as well as nontraditional activities like knowledge management. Every industry benefit from a Human Resource Information System. It can play a virtual function in the organization's communication process. Most importantly, businesses can hire and retain top performers, increase productivity, and boost employee happiness. Human Resources Management is responsible for maximizing efficiency and profit, but in the new environment, the function of Human Resources Management is changing. Because of changes in government policies, unions, labour laws, and technology, the role of a resource manager is changing at a rapid pace. Organizational trends, human resource planning, job design, motivation, recruitment, skill development, and employee interactions have all been observed. HRM can effectively Journal of Contemporary Issues in Business and Government Vol. 28, No. 04, 2022  https://cibgp.com/                                                                               P-ISSN: 2204-1990; E-ISSN: 1323-6903   1052  address the difficulties if correct strategies are used. As a result of the changing environment, HRM will play a larger role in the future.   References  Arango, S. and M.I. Nadiri, 1981, Demand for Money in Open Economies, Journal of Monetary Economics, 7(1), 69-83.  Balcilar, M., D. Roubaud, O. Usman and M. Wohar, 2021, Testing the Asymmetric Effects of Exchange Rate Pass-Through in BRICS Countries: Does the state of the economy matter? The World Economy, 44(1), 188-233.  Duan, Y., Y. Zhao and J.de Haan, 2020, Exchange Rate Pass-through in China: A Cost-Push Input-Output Price Model, Open Economies Review, 31, 513-528.  Ha, J., M. Stocker and H. Yilmazkuday, 2019, Inflation and Exchange Rate Pass-Through, Policy Research Working Paper, No. 8780, The World Bank.  Hong, P. and F. Zhang, 2016, Exchange Rate Pass-Through into China’s Import Prices: An Empirical Analysis Based on ARDL Model, Open Journal of Social Sciences, 4(4), 13-22.  Jianhuai, S., F. Xiongguang and X. Wei, 2008, Pass-Through of RMB Exchange Rate to Chinese Domestic Prices, Economic Research Journal, 7(6), 90-93.  Jiménez-Rodríguez, R. and A. Morales-Zumaquero, 2020, BRICS: How Important Is The Exchange Rate Pass-Through? The World Economy, 43(3), 781-793.  Kassi, D. F., G. Sun, N. Ding, D. N. Rathnayake, G. R. Assamoi, 2019, Asymmetry in Exchange Rate Pass-Through to Consumer Prices: Evidence from Emerging and Developing Asian Countries, Economic Analysis and Policy, 62, 357-372. Journal of Contemporary Issues in Business and Government Vol. 28, No. 04, 2022  https://cibgp.com/                                                                               P-ISSN: 2204-1990; E-ISSN: 1323-6903   1053   Liu, H. Y. and X. L. Chen, 2017, The Imported Price, Inflation and Exchange Rate Pass-Through in China, Cogent Economics & Finance, 5(1), 1-13.  Liu, J.-H. and J.-B. Wang, 2018, The Exchange Rate Pass-Through in China, Fudan Journal of Humanities and Social Sciences, (1), 145-154.  Phuc, N. V. and V. H. Duc, 2019, Macroeconomics Determinants of Exchange Rate Pass-Through: New Evidence from the Asia-Pacific Region, Emerging Markets Finance and Trade, 57, 1, 1-16.   

The Role of Human Resources Management in Present Scenario

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The Role of Human Resources Management in Present Scenario

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The journal of contemporary issues in business and government