CAREER PROSPECTS OF PGDM IN HUMAN RESOURCES (HR)
In contemporary competitive world, it is an established fact that the quality of people that an organization employs are instrumental in enabling it create a unique value proposition for its stakeholders and thus gain and sustain a competitive edge over others. For this to happen to any organization, it is imperative for it to attract, deploy, engage, nurture and retain its talent pool & human capital so that it may continue innovating products, processes & creating wealth. The HR professionals of any organization spearhead and lead the actions outlined above and ensure that the organization always remains ahead of local and global competition. The 2-year PGDHRM program is conceptualized, designed and delivered to create business savvy HR professionals adept at creating value through human resources. The program exposes all participants to the core concepts and practice of business management across functional domains and then helps them take a deep dive into HR domain thus equipping them to become a holistic business professional with HR expertise. The courses in the program provide a thorough grounding in the concepts, expanded depth and width of knowledge, contemporaneous skill sets and competence, and strong positive outlook towards the society. Thus, the area ensures that the graduating students are sensitive to the needs of the environment and sensible towards creating values for the business and the society as a whole. The pedagogy used is introspective as well as interactive, thereby ensuring that the participants to the program have a good understanding of self, a fair appreciation of the business environment, and superior ability to use this knowledge in the best interest of the stakeholders. And acquire cutting edge competence to deal with the world in a sensitive and ethical manner. The program faculty comprises academic professionals with substantial research, consulting, teaching, training, and corporate experience, with a strong cross-functional academic focus. The faculty offering the courses is a wonderful mix of experience, expertise and vintage, with a vast expanse of competence rarely found under one roof. The program also entails several courses being offered by professors of practice and practicing professionals to give them a realistic and contemporary perspective about the HR profession. Job prospects after PGDM in HR HR Generalist After working for a few years as a human resource professional, you are promoted to be an HR generalist. As an HR generalist, you have to look after staffing, space management, employee orientation, personal and professional development of the employees and so on. Additionally, an HR generalist formulates and documents policies and makes sure that it is well-aligned with the vision and mission of the company. At this position, you are a key member in the decision making process. Staffing Director A staffing director is completely responsible for hiring the employees in the company. He is also accountable for handling the situation in case anything goes wrong with those employees. It is a very huge responsibility as he has to build smart and cost-effective strategies for hiring and look after the overall welfare of the personnel too. Employee Relation Manager This is also something that requires some HR experience in the initial years after PGDM in HR. An employee relation manager can also be termed as human resource specialist. He is majorly responsible for screening the candidates, interviewing them and so on. Employee relation manager is also in contact with colleges from which the students are hired. In addition to hiring, he provides advice and counsels the managers and supervisors regarding personnel practices, policy and employment laws. Training and Development Manager Training manager arranges for the training of the new employees and also when the need for training arises for the other employees of the company. As a training manager, you need to find out the training needs by coordinating with various managers. Next, he has to devise an overall or individual training plan within the budget and deploy training methods. Compensation Manager A compensation manager is extensively responsible for formulating the payroll and compensation policies for the employees. They conduct surveys, research, etc. to study the compensation trends in the market before documenting the policies. They need to revise the policies as per the changing economic trends or government regulations. He may also handle employee benefits, employee reward systems such as bonuses, merit raises, and pay-for-performance plans may also fall within their responsibility. Start your own consultancy This can be an option for those who want to be their own boss. You will have a number of HR executives and human resource managers working for you. You need to decide the industry and establish a client base accordingly. A number of people opt to go through recruitment agencies. Also, MNCs prefer to hire employees via a consultancy as they are a trusted source. DIFFERENCE BETWEEN PGDM AND MBA ANONYMOUS INSTITUTIONS VS INSTITUTIONS AFFILIATED TO THE UNIVERSITY Institutions which are anonymous or aren’t affiliated to any university provide PGDM courses, they are not bound to a specific pattern of material they are allowed to make changes when required in the industry. Only institutions that are affiliated to a university are allowed to provide MBA course. They are to strictly follow the rules and regulations provided by the university. DIFFERENCE IN FOCUS OF CURRICULUM While there are huge similarities in the curriculum of both MBA and PGDM, there are finer points of difference. While MBA focuses more on theoretical aspects of management and is more exam-oriented, PGDM has a focus on building soft skills and is industry-oriented. It prepares you for the job market. FEE DIFFERENCE MBA courses have a lower fee structure as compared to PGDM as they are university-affiliated and run under the guidance of the university. MBA has a cheaper tuition fee for most of the institutions that offer this course are affiliated to government university making it easily accessible for the students. PGDM courses are run by autonomous institutions are thus are more expensive. DIPLOMA VS DEGREE As PGDM provides a diploma at the end of the course and MBA a provides a degree, many students feel that diploma does not hold the same value as that of a diploma but this is wrong as PGDM is seen to be more analytical and up-to-date course. FEE STRUCTURE FOR PGDM COURSES The figures provided here may vary from institute to institute as all institutions have different fee structures but this is just to give an idea of how the fee is divided into different levels of the course. The tuition fees are somewhere around INR 80,000 The room rent is somewhere around INR 4000 The cost of course material is somewhere around INR 18,000 The computer charges are somewhere around INR 12,000 These are respective for each term 1,2,3,4,5,6 in both 1st and 2nd year. Along with these, there is a one time deposit for medical insurance, development fees, student’s welfare fees, alumni activities and caution deposit. So, the total payable amount is a little over INR 9,00,000.00. As noted earlier this is an estimated amount and it may vary from a different institution. Another plus point is that some colleges also offer scholarships to the bright students or other exemptions to deserving students. For example, Indian Institute of Entrepreneurship (IIE) offers up to 50% scholarship in the course fee. Again, Xavier Institute of Development Action and Studies (XIDAS) offers up to 25% scholarships in the course fee of first 10 deserving students.