What are the three most critical HR - related challenges for any progressive organization in and for better future ... ?

That would be the most critical issue according to me!!

It is imperative that HR selects the RIGHT candidate for the responsibility that is being filled. It is not just matching of credentials and qualification but also the mental ability to cope with the responsibility related pressures! With mass globalisation happening this is probably one of the most critical challenges faced by HR personnel. They also have the extra agony of creating a talent bank that would act as back up in case the talent selected is enticed by another corporate on basis of sheer better emoluments!!

Sorry havent been able to quote three as per your question but I am not a trained HR professional to think deeper. I can skim the surface but cannot scuba dive into territories that are relatively unknown :))

Thanks for the referral Mr. Bagla!

I consider the reporting boss should be a demonstrative good leader and a good team

to shape up one's talent. through training and enhancement of skills related to their domain.

a) Conducive work culture and environment which is supportive to bring out the best by considering individual aptitudes
b) Creativity culture and other intangible - climate, atmosphere - conditions for full blooming of individuals potentials.
c) Motivational-compassionate based training & evaluation - judgment culture, which is meant for individual growth & development rather than limiting the individual

Leader is the only means to create an environment she/he orients to trust, open communication, creative thinking, and cohesive team effort.  The Leader is also a (role model) who dynamically motivates, inspire team members, Intervene when necessary and strive for win-win agreements.  This automatically brings down, the weight-age, for the other two critical points discussed.