Hiring workers is not the only challenge that HRM faces, retaining them is also one. Retention of personnel is crucial to reduce workforce turnover rate. This is a great challenge for HRM because of following reasons:
Ø Contingent staff includes part-time, temporary contract and work-at-home workers. Retaining such personnel in the corporation is a challenge because they are less devoted to the company. So it becomes a key duty of HRM to make such workers feel that they are an important part of the firm in order to keep them for a long time.
Ø Employees with better qualification and high skills are extremely demanded in the work market because such employees have the capability to move their corporation forward in the race. Such personnel are priceless advantage for any business and HRM should focus on keeping them.
While training poor skilled employees it is important to remember about talents of your company. In Thames Building company they fired a lot of people from their branches, but we don’t have information on how this decision was made, and which exactly employees were fired. If HR is managed poorly they could made wrong choice and lost nice workers.
As one of the largest challenges for HRM, leadership development must to be a critical strategic initiative. HR specialists are expected to provide the vital processes, structures, and points of view to create the best variety and cultivate the future leaders of the business. Nevertheless, TBS felt great inefficiency in this. HRM in branches was poorly managed. Line managers weren’t allowed to deal with HR problems by themselves. Instead of creating nice leaders and managers HR were busy with dealing with stuff, and yes it’s their work, but managers will be always few steps closer to production process, therefore as for me, by being in the epicenter of problem they can feel and as a result deal with it better. Consequently, more responsibility should be handled to line managers. But to do so, they should be carefully prepared and trained to be Leaders.