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[Music] now lets take a look at some of the issues facing todays HR managers including new HRM challenges and competencies that will be required in order to do the job and some demographic factors that we need to be aware of in a tight labor market what types of issues are todays corporate executives concerned with a recent Sherm or Society of human resource management survey of HR and non HR executives asked what challenges they think will be most docHub over the next 10 years the three biggest challenges ing to these executives are maintaining high levels of employee engagement developing the next generation of organizational leaders and maintaining competitive compensation and benefit offerings the biggest challenges ing to HR executives are very similar they include developing the next generation of organizational leaders managing the loss of key workers and skills and maintaining competitive benefits and compensation offerings the HR competencies that will be most critical