'Human Resource' is the greatest asset of any organization. Organizations are at par because of HR(Human Resource) philosophies. In today's chaotic time, retaining faith in HR has not only become difficult but also important. Along with other components of business, recently HRM (Human Resource Management) has also become highly complex.
In today's rapidly changing world, things are changing overnight. So it is really difficult to tell what will happen next .But HR professionals can not afford to wait for change to occur. HR leaders must be hopeful of new developments clinch them and develop the strategies necessary for their organizations to succeed. In organizations, it is important to determine both current and future organizational requirements for both core employees and the dependent workforce in terms of their skills/technical abilities, competencies, flexibility etc. The analysis requires consideration of the internal and external factors that can have an effect on the resourcing, development, motivation and retention of employees and other workers.
This paper aims at discovering opportunities and challenges in contemporary trends in HRM.