Didyou know that the HR industry in India employs approximately 600,000 HRprofessionals? And what’s more is that this number is predicted to grow by 7%as soon as 2028!
Theneed to identify, recruit and retain the right talent has been the drivingforce behind the increase in the demand for skilled Human Resource managersacross several leading industries like BFSI, IT and Manufacturing and so manyothers. Join us in this episode to discover the multifaceted landscape of HRmanagement. Get insight into the unique job roles, salary packages, upcoming HRtools & tech and skilling opportunities to fast-track your career.
Helloand welcome to WiZR Voices, an insightful podcast for learners and careerbuilders. I’m your host, Malavika Issar and this week we’re all about HumanResources! While most of us think HR only revolves around recruitment, thefield encompasses a variety of functions essential for fostering organizationalsuccess. From talent management to employee relations, HR professionals play apivotal role in shaping workplace culture and driving strategic initiatives.
Buthow can you establish yourself in the HR domain? Which sectors will HRprofessionals most benefit from in 2024? To answer all these questions andmore, let’s do a deep dive into the exciting worldof Human Resources!
So,what does Human Resources cover?
Human Resources or HR, refersto the corporate branch that is responsible for managing and developing anorganization’s workforce. HR professionals play a crucial role in recruiting,selecting, training, and retaining employees. They also handle employeerelations, performance management, compensation and benefits, and compliancewith labour laws.
WithinHR, professionals can specialize in diverse domains such as Talent Acquisition,Talent Management, HR Business Partnering, Human Resource Information Systems (HRIS),HR Operations, Training & Development,Organisational Development, Payroll & Compliance and Total Rewards.
Nowyou must be wondering what the popular job roles across each of these skillsare. Let’s go over them, and the expected salary ranges for entry-level,intermediate and advanced professionals.
Tokick things off, we’ll start with Talent Acquisition. Talent Acquisition involvessourcing, attracting, and hiring top talent for organizations. Specialists inthis field are responsible for identifying staffing needs, conductingrecruitment processes, and ensuring a smooth onboarding experience for newhires.
Entry-levelTalent Acquisition roles include positions such as Recruiter, TalentAcquisition Specialist and Employer Branding Specialist. In these roles,individuals may earn salaries ranging from ₹3.6 lakhs to ₹7 lakhs per annum.
Whenyou move to a mid-level or an intermediate role of a Talent AcquisitionManager, you will earn competitive salaries in the range of ₹7.2 lakhs to ₹24 lakhsper annum. And when you take up a management position as the Lead TalentManager, your pay check will receive a significant boost! You'll end up makingupwards of 30 lakhs per annum depending on the organization and level ofexperience.
Nextup, Talent Management. The strategic process of attracting, developing, andretaining top talent within organizations falls under Talent Management.Professionals in this field focus on identifying high-potential employees,implementing succession planning initiatives, and fostering a culture ofcontinuous learning and growth.
Entry-levelTalent Management roles include positions such as Diversity, Equity andInclusion or DEI Specialist and Employee Relations Executive. In these roles,you can expect to earn salaries ranging from ₹4.8 lakhs to ₹8.5 lakhs perannum.
Asyou progress to mid-level or intermediate roles like Employee EngagementManager, you will gain competitive compensation ranging from ₹9.6 lakhs to ₹11lakhs per annum.
Andin your capacity as the Head Talent Manager or Talent Director, yourcompensation
willsee a substantial increase, with earnings potentially exceeding ₹20 lakhs perannum, depending on the organization and level of experience.
InHR Business Partnering, professionals play a pivotal role in aligning HRstrategies with organizational objectives. Entry-level positions such as HRBPoffer salaries ranging from ₹3.6 to ₹7 lakhs per annum. Mid-level roles likeSenior HR Business Partner & HR Manager command salaries between ₹8 to ₹24lakhs per annum. Senior positions such as Lead Talent Management earn upwardsof ₹30 lakhs per annum, depending on experience and organization size.
Movingonto HRIS. Human Resource Information Systems professionals oversee themanagement and optimization of HR tech solutions. Entry-level roles like HRISAnalyst or HR Tech Specialist offer salaries ranging from ₹2.4 to ₹5 lakhs perannum. Mid-level positions such as HRM Consultant, HR Tech Manager & WorkforceTech Manager can receive salaries between ₹5.5 to ₹11 lakhs per annum. Based onyour experience, senior roles like Advanced Lead Vendor Partnerships may earn₹20+ lakhs per annum.
Nextup, we have HR Operations. HR Operations involve the administration andexecution of HR processes and procedures. Entry-level roles such as HROperations Executive or Payroll Executive offer salaries ranging from ₹4 to ₹7lakhs per annum. Intermediate positions like HR Operations Manager or PayrollManager can command salaries between ₹7 to ₹9 lakhs per annum. Senior rolessuch as Senior HR Operations Manager or Senior Payroll Manager may earn upwardsof ₹20 lakhs per annum, and it depends on the experience and organization size.
Oneof the lucrative functions in HR, Training & Development, focuses ondesigning and delivering learning initiatives to enhance employee skills.Entry-level roles like Training or Instructional Designer offer salariesranging from ₹4 to ₹11 lakhs per annum. Mid-level positions such as Training Manageror Skills Development Manager can obtain salaries between ₹12 to ₹29 lakhs perannum. Senior roles like Head of Training or Training Director may earn upwardsof ₹40 lakhs per annum.
Nowif you are looking to specialize in Organizational Development, you will beresponsible for crafting strategies and initiatives to enhance organizationaleffectiveness and performance. Entry-level roles, such as Employer Brandingspecialist or Process Improvement specialist, offer salaries ranging from ₹6 to₹11 lakhs per annum. Mid-level positions, like Succession Planning Manager,Change Management Specialist or Leadership Development, can earn salariesbetween ₹12 to ₹29 lakhs per annum. Senior roles, such as Head of Learning& Development or CHRO, may earn upwards of ₹40 lakhs per annum.
Nextup, we have Payroll & Compliance. Payroll & Compliance professionalsmanage payroll processing and ensure compliance with labour laws andregulations. Entry-level roles, such as Payroll Specialist or BenefitsCompliance Specialist, offer salaries ranging from ₹3.6 to ₹7 lakhs per annum.Mid-level positions, like Payroll Manager or Benefits Compliance Manager, canearn salaries between ₹7 to ₹14 lakhs per annum. Senior roles, such as Head ofPayroll & Compliance, may earn upwards of ₹20 lakhs per annum, depending onexperience and industry.
Andfinally, we have Total Rewards. Total Rewards deals with the compensation andbenefits to attract, retain, and motivate employees. Entry-level roles, such asPerformance Management Associate or Total Rewards Associate, offer salariesranging from ₹6 to ₹11 lakhs per annum. Intermediate positions, like TotalRewards Manager or Performance Manager can gain salaries between ₹12 to ₹24lakhs per annum. Senior roles, such as Lead Talent Management, may earn upwardsof ₹30 lakhs per annum.
So,did you get a comprehensive picture of the HR landscape? Let’s get a scoop onwhat are some of
thethings to look forward to in the Human Resource industry.
Agrowing trend in HR is the rapid integration of HR functions with innovativetechnology. According to a survey conducted by Wonder, 75% of HR professionalsin India confirm that they are actively using HR tech tools. A shift towardsautomation, digitization, and the introduction of artificial intelligence forapplicant tracking systems, HR analytics, and employee engagement platforms isseen as a game-changer.
The use of technology has helped tostreamline HR processes, improve efficiency, and enhance the overall employeeexperience.A report by Research and Markets predicts that the HR tech market in India isexpected to reach an impressive USD 34 billion by 2026.
Inthe previous section, we briefly mentioned about HR analytics, let's take a closerlook at it.
Analyticsallows for the collation of HR data more efficiently. About 14% of the totaljobs in Human Resource Management in India are analytics based. This hasseveral advantages.
Oneis the improvement of employee experience. Analytics can enable HRs to develop activitiesthat promote the mental well-being of the employees. For example, this can be doneby collecting feedback on work-life balance, after which, appropriateengagement activities can be designed to foster a conducive and collaborativeworkplace environment.
Anotherkey issue that HR analytics solves is the flexibility in recruitment processes.Sourcing, hiring and training talent is a time intensive challenge. But withthe introduction of people analytics, HR’s will be able to quickly and moreaccurately match the employer requirements to the candidate's profile. Thissaves time as well as removes biases in the process.
Theintroduction of innovative technology in HR has opened up new opportunities forskilled HR professionals to enhance their capabilities.
Buthow do you make a career in this field? What are the essential skills needed tothrive as an HR Manager? And, what is one’s trajectory going to look like?We'll now attempt to answer all these questions.
Firstlet's start by defining various educational pathways you can choose to pursue acareer in HR.
Theconventional route would be getting a bachelor's or master's in human resourcesmanagement. These degree programs focus on providing comprehensive knowledgeabout managing human resources in organisations.
Anotherpopular choice to fast-track your career is by gaining relevant diploma and coursecertifications. These short-term courses provide specialised training invarious aspects of HR, such as recruitment and selection, employee relations,and compensation and benefits management.
Graduatesmay also prefer to continue their further education by opting for an MBA with aspecialisation in Human Resources. These programs offer a broader understandingof business management along with specialised HR knowledge.
Asa professional already working in the HR space, you may be thinking, how can Iimprove my skills or what are the in-demand HR tools I must learn to stay aheadof the curve? So, let’s get to it!
Upskillingin HR involves exploring in-demand tools such as HR analytics platforms,applicant tracking systems also known as ATS, and performance management softwareto optimize processes. We’ll look at a few popular ways-
Firstly,let’s talk about Professional Certification Programmes. Certifications such asSociety for Human Resource Management or SHRM-CP validate expertise andshowcase proficiency in HR practices. These certifications enhance credibilityand open doors to advanced career opportunities.
Nextup, online HR courses. These courses are accessible through various skilling platformsand provide flexibility and depth in topics ranging from HR fundamentals tostrategic planning. These courses offer practical insights and enablecontinuous learning.
Immersiveworkshops are yet another way to gain hands-on training.
Participatingin workshops and seminars conducted by industry experts help you gain practicalskills and network with peers within the HR community.
In today's dynamic HR landscape, professionals mustembrace continuous learning to outshine their peers. Industry certificationsand training programs are pivotal, offering specialized expertise and advancingcareer prospects. Accredited by professional bodies, these certificationsbolster credibility and employability.
Wonderingwhere to begin your upskilling journey? This is where WiZR can help you!
WiZR is India’s Ultimate Skilling Marketplace and yourgateway to HR career growth; offering skilling and upskilling courses tailoredto diverse learning preferences developed by top institutes across India.Whether you’re pursuing specialized training or obtaining advanced degrees, theaccessible programs with flexible EMI options, cater to all aspirations.
As companies gear up for the future, it's vital to investin skilling, reskilling, and upskilling to stay ahead and achieve yourlong-term goals. So, if you're thinking about jumping into HR, now's theperfect time to explore all the awesome opportunities it has to offer! Remember,it’s important to embrace lifelong learning to remain at the forefront, stayingup to date of emerging trends and industry shifts.
And with that, we’ve come to the end of yet another informativeepisode of WiZR Voices!
This podcast is a production of WiZR. I’m your host,Malavika Issar. Shanika Jhunjhunwala is the executive producer. The content hasbeen researched and written by Maurvee Sharma & Anuradha Kota. Audio hasbeen managed by Manjula Gupta.
For more information on how to grow your career withWiZR, visit wizr.in. Here, you can discover your ideal career or skillexpertise level, compare and enroll in over 5000 skilling courses, getcertified across 192 in-demand skills and avail no-cost EMI financing on coursefee.
Thanks for tuning in, we’ll catch you in the next episode,until then Grow WiZR Everyday!
