It is predicted the ongoing increase in competition for skilled talent, the need for a flexible work schedule and the influence of social media on recruitment policies will have deep impacts on future HR business development models. The roles within the HR as well several different departments may vary from the solely administrative to the executive. Currently, the HR department’s primary focus must be to ensure the right people are hired in appropriate roles to achieve success, both personally and professionally.

To put it simply, HR in future will be responsible for developing programs that will scan, choose and retain the right kind of talent required to meet the organisational mission.

It is a known fact that new graduates are having difficulties finding a job that matches their qualification. And that's where HR comes in, to find highly qualified students that might not necessarily have a vast employment experience. But are eager to put themselves out there and learn from experienced employees.

HR and Social Media

Owing to the increasing competition for talent, recent development in the HR industry is leading to global talents being categorised under a single umbrella through online portals and resumes banks. LinkedIn is the perfect example of how technology and internet connectivity has enabled the modern freelancer to offer his services to the global community.

Today, recruitment is greatly influenced by social media as 91% of HR managers discover more about a potential candidate through social media.

Other findings include:

  • 11% of employers rejected candidates due to unprofessional comments, photos or posts regarding previous employers.
  • 10% turned away candidates because of drug references and 9% for updating posts about alcohol.

The findings imply that although there is a massive talent pool available due to increased connectivity, there are also considerable limitations before choosing a suitable candidate.

What Does The Future Hold?

The ability to connect to anyone who is anywhere in the world has brought a plethora of opportunities for hiring the right kind of people for emerging markets that are looking for ways to outsource their operations. When used intelligently, future HR business development models can work to the advantage of everyone who is involved (from recruiters to candidates) to solidify a professional team and company culture.

In future, human resources will need a clear and precise system to elaborate how they intend to offer a competitive advantage for the organisation through its accumulation of human capital and people management models. Particularly in investment firms, conversations between investment analysts and HR can help you focus on how these models should be devised to achieve the desired outcomes.

Final Thoughts

As new media technologies arrive, the opportunities to work remotely from home have transformed the way HR measured employee performances. This means The Future of HR business development involve policies and regulations to accommodate virtual teams and freelancers who work flexible hours. Old HR policies and models must be updated for adjusting to an entirely different generation of employees by identifying updated and key drivers for success in an organisation.

The world of business is developing at a rapid rate and so should the HR policies to nurture and retain the right kind of talent. When HR managers become strategic, they will define roles that are well defined for playing a major role in the success of a company through effective performance and talent management.