One of the companies that have successfully managed to conduct a complete turnaround is General Motors. During the late 2000s, the company experienced significant upheavals which lead to filing for bankruptcy while tens of thousands of its workers were laid off. It was not until the execution of the federal government's bailout plan that the company managed to roar back to profitability. As such, the significant turnaround for General Motors has been considered useful while increasing the company's productivity. Such success has been achieved through the closure of its struggling divisions such as the Hummer, Pontiac, and Saturn. After going public again, the company managed to raise approximately $20 billion while saving an estimated 1.2 million jobs.
Currently, the field of Human Resource management has been subjected to various significant changes. One of these changes is the transition from an employee engagement organizational culture to one that focuses on employee experience. Such a transformation is influenced by the dimensions of learning, engagement, and performance management. The other significant change is the race to digitize HR whereby the use of artificial intelligence reduced costs in the recruitment processes as well as the improvement of employee experience. Furthermore, there is also the aspect of workplace diversity which focuses on actions and not words. In this case, the HR managers pay more attention to the intellectual and experiential elements of diversity. The HR department is also transforming into one that aims at managing a split generation which provides relevant workforce compared to the traditional approaches.
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In the next ten years, the field of HR management is likely to incur various changes and developments. One of these is that the new core competency for in-house HR will be strategic thinking. The other future prediction is that the HR will increasingly dwell on utilizing big data and analytics to uphold its value to the organizing.
