No business can run without an HR department. As an employee, you often approach your HR management to discuss issues regarding compensation or policies and guidelines. But you might be unaware of all that goes on behind-the-scenes in HR management!
The human resource management team does more than lodge complaints and manage employees’ personal information. Case in point; did you know that HR management always has a contingency plan in case a vital employee quits unexpectedly? In HR terms, it is called 'success planning.'
Well, here are 5 more interesting facts about HR management that you might not know:
1. Change in future HR jobs
The advancements in technology and the Coronavirus pandemic have reformed the way we work. This has led experts to predict that future jobs in human resource management will be focused on organisational and leadership roles. According to the Harvard business review [i]; new jobs such as Human-Machine Teaming Manager, Head of Business Behaviour, and Strategic HR business director will emerge.
Related Blog - Masters in Human Resource Management: Why You Should Apply?
2. Best HR professionals are political-savvy
HR managers interact with the employees working on the floor, the top management, and the unions. Being a liaison between boss and employee can be a tricky task. So an HR manager’s job is to be professional, diplomatic, and ethical. They use their strong people skills to generate positive results [ii] for all.
3. HR postgraduates earn handsomely
Working professionals with a Masters or MBA program in Human Resources Management earn a significant income internationally. Especially in a management position, you can expect an annual salary to be somewhere from $114,010 to $121,777 [iii] depending on the job title. In India, HR managers earn an average of Rs 10,00,000/year [iv].
Also read: Masters in Human Resource Management: Why You Should Apply?
4. There is a lot of professional growth potential
Starting as a staffing coordinator, you can advance to the positions of HR manager, HR analytics specialist, or executive (CXO level) in the department. Working professionals can acquire advanced academic qualifications such as an Masters or MBA program in Human Resources Management. And continue to work their way up to the executive floor!
5. The reason behind the lengthy interview process
Ever wondered why some companies conduct a series of interviews before the hiring manager finally says “We would love to have you”? Well, statistics show that 22% of new hires leave the company within 45 days [v] of starting due to various factors. This is why HR departments now have a detailed onboarding process to ensure that any new member they bring into the organisation fits well with the culture and the working mentality of the company.
Glassdoor research [vi] concluded that a specialised onboarding strategy improves employee retention by 82%!
Related Blog - Top 3 Growing Careers in Human Resource Management
Conclusion
The HR management department manages payroll and creates organisational development strategies etc. With new advances in the industry, HR management is much more interesting and diverse now than ever!
Do you have any fun statistics about HR management that you would like to share? Let us know in the comments.
If you are looking for a prestigious international Masters to move further in your HR career, SNATIKA is your choice. With the help of your managerial experience and our immersive syllabus, you can earn a prestigious Masters or MBA program in Human Resources Management within 12 months. Check out the program now!
Related Blog - HRM Roles
[i] HBR
[ii] CCL
[iii] Salary
[iv] Glassdoor
[v] LinkedIn
[vi] Glassdoor (pdf)