The recent transition in Human Resource Management (HRM) reflects a complex interplay of social and economic factors that have reshaped how organizations view and manage their workforce.
Social Reason - Changing Workforce Demographics: The workforce is becoming increasingly diverse, with varying expectations and values across generations. Younger employees often prioritize work-life balance, flexibility, and purpose-driven work, prompting HR to adapt its strategies to attract and retain talent.
Economic Reason - Globalization: The interconnectedness of markets has intensified competition, compelling organizations to innovate and be agile. This requires HR to focus on developing a skilled workforce that can adapt to global demands.