The fourth phase of HRM is ongoing.Current management thinking holds that

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The fourth phase of HRM, known as the "contemporary period," recognizes that employees are often a firm's best competitive advantage. This phase emphasizes the importance of understanding and managing the diverse needs and motivations of individual employees, rather than treating them all as interchangeable parts. This approach requires HR managers to develop strategies for attracting, retaining, and developing employees who can contribute to the organization's goals and competitive position. Compensation and benefits are still important, but they are just one aspect of a broader approach to employee management. Social influences and other factors that affect employee motivation and engagement are also recognized as significant drivers of performance.

The Fourth Phase of HRM Is Ongoing