Numerous social and economic factors have contributed to the current change in HRM. One key factor is the expanding globalisation of firms, which has necessitated the understanding and management of global talent mobility by HR professionals. The need of efficient people management for corporate performance has also been recognised, and this has increased the position of HR in crucial business planning choices and strategy formulation.
The development of HR roles and responsibilities has seen a move in the direction of a more strategic and business-driven approach. Today's HR professionals are expected to participate in important business decisions, have a global perspective, and help design and implement personnel management strategies.
Today's HR professionals are expected to participate in important business decisions, have a global perspective, and help design and implement personnel management strategies. In order to solve global talent concerns and promote HR transformation, there is also a rising focus on leveraging HR technology and analytics. In general, the emphasis has changed away from cost savings and towards developing nimble HR departments that are in line with corporate goals.