consultantsreview logo

Consultants Review Magazine

Enhancing HCM Practices for Meaningful Business Outcomes

By Deepshikha Singh, Managing Editor, Consultants Review

The highest rate of unemployment in India recorded was 8.45 percent in October 2019. Though, it cut down by one percent that is for 7.48 percent in November 2019, however, still due to the fluctuating economic growth and internal changes of the law system there is no proper solution found to overcome this gap. Along with this, the Covid19 pandemic has been a major blow to the employment sector. Despite the fact that there are many recruitment companies existing in the industry, most candidates are unable to find a job that fits in their requirement list. Often focused on achieving dominance in the market by improving products and services, business organizations remain occupied resulting in unintended negligence towards the employees. By managing the human resources through administrative and strategic management support, Human Capital Management Consultancies are assisting the companies in progressing towards the organizational objectives unperturbed.

What makes choosing the right consultant for your company important is the fact that every company will have unique operational strategies and philosophies and partnering up with the right consultant will help the company to amplify its success

With a country emerging as a GIG economy, the country is adopting a new concept on the global front, especially in Europe and the USA, hiring part-time workers or independent contractors has always been prevalent. It eventually leads to employment generation and overall skill development. Employers also have a wider range of applicants to choose from as they don't have to hire someone based on their proximity. With the evolution of the digital age, the concept of GIG economy is fast gaining popularity within the IT space. Most times, employers cannot afford to hire full-time employees to do all the work they need to be done, so they contractual employees to take care of busier times or specific projects.

With the fast-changing business environment, the current situation demands the need for transformation. The companies are eager to incorporate the technological advancements in their products and services and thus are in a constant need of a proficient workforce. Considered as resources for an organization, efficient employees grant impeccable assistance in technology adoption, diversification, consolidation, and partnering. Today, the need for an engaged workforce is extremely critical as it is imperative to understand the customer’s priority, which will not happen with technology, and the need for human element is necessary.

Hiring the ideal candidate to fill in the positions in the organization is a crucial aspect of running a business. Recruitment is an ongoing process and getting the right employee can have a massive impact on the performance of the business. At a time, when even the small firms are looking for the best job seekers, it is crucial that you have got your recruitment and selection process sought out. Partnering up with the right human capital management consultant can make a major difference between running the business and shutting down the operations. What makes choosing the right consultant for your company important is the fact that every company will have unique operational strategies and philosophies and partnering up with the right consultant will help the company to amplify its success.

Magazine Current Issue