The Future of Human Resources Management

February 5th, 2009 Gireesh Sharma Posted in HR Technology, Human Resources, Motivation, Performance Management |

Prayag Consulting, a leading technology marketing firm, recently interviewed President of Saigun Technologies and the Chief Architect of EmpXtrack, Tushar Bhatia, regarding the trends in HR Technology, the future of HR Management and entrepreneurship. Here are some excerpts from the interview that appeared in their newsletter Focal Point.

What the future holds for HR Technology

With the baby boomer generation retiring, there is a massive talent shortage in the Western countries. Organizations will have to optimize their workforce to deliver at the lowest possible manpower requirements, and any solution that can help them do this effectively will be a sure winner.

The maturing of Internet based technology platforms, acceptance of the SaaS concept by the market at large, good security standards and low cost of bandwidth are further enablers. We are fortunately in a good period at the right time and hope to capitalize on the trend. 

On competition in HR Technology Domain

The HR software products industry, fortunately for us, is very fragmented with lots of providers in niche areas. We were amongst the first few companies to offer an integrated solution which covers the entire gamut of HR activities. Incidentally, this is our value proposition too.

Moreover, the market is evolving with a huge opportunity for growth across the world. Some estimate this to be a $600 billion market by 2015, and we are looking for a sizeable chunk of that. Having said this, the biggest challenge is adapting the solution to the regulatory needs and HR processes of all our target markets as well as building a solution for a global enterprise.

On Pleasures and pains of being an entrepreneur

People make the organization and each organization acquires a unique DNA. To begin with, it was difficult to identify our DNA. Now, as we are growing, the difficulty lies in replicating or cloning the key people. I think it is all about people at any stage of organization maturity!

Network, ask for help, hire differently, outsource non-key activities and keep on trying till a few things appear to work.

Most importantly, be extremely transparent with existing employees, vendors, contractors etc. Those who decide to stick with you would be sharing your dream and hopefully support you through thick and thin. Try to mature your HR processes as early as possible in your lifecycle. This has helped us immensely in identifying and retaining talent.

On Pointers to fellow entrepreneurs

1. Be patient
2. Continue to believe in yourself
3. Experiment
4. Have fun

Read the complete interview on Prayag’s Site