Social and economic factors that drive the recent transition in HRM. HR's recent function.
Due to the fast-changing in the modern business world, it has resulted in talent shortage among the employee's organization. Advancement in technology required new skills and knowledge among the workers to adapt to the new technology.
Hybrid and remote work.
- In this modern era, a huge amount of workers prefer to have more flexibility in their tasks. Therefore, a business that does not implement flexibility will surely lose competitiveness in the market. Upskill and Reskilling
Upskill and Reskilling.
- Big companies such as MNCs are required to invest a large amount of money in developing new skills and talent ensuring their workers are compatible with the latest technology and application. This is very important as HRM must have a great strategy making sure that they stay ahead of the competitors and successfully achieve the objective and goals of the organization.