Economic Trends Affecting HR Strategies Essay

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One of the most important factors affecting HR strategies, hiring, and staffing is the economy. In this field of people management, there are various current trends, but two of them are essential. Nowadays, nearly all industries need workers who are proficient in digital technology, capable of efficient oral and written communication, and able to collaborate with people from different functional areas. The human resources division should aggressively encourage staff members’ career advancement, the development of their technical abilities, and general on-the-job training (Przytuła et al., 2020). This trend is relevant for Savannah Engineering, Inspection and Insurance Company (SEIIC), since the company can invest more in staff development as they can afford to do so. New skills are necessary for modern occupations, which is important for hiring and recruiting processes.

Even though workers everywhere are putting in longer hours, productivity per hour is falling, which is caused by several causes. While the GDP is increasing, labor productivity is not, according to the trend. Even while the industry today frequently employs robotics, using digital equipment does not always make a job simpler. Many businesses use a variety of communication channels, which causes digital overload for most employees (Livingston, 2018). The best course of action for SEIIC in response is to put flexible work schedules in place where possible, simplify IT infrastructure, and interact with workers a lot more.

Human resource management trends may also be impacted by political and legal considerations. The regulations set out by a nation’s legal system can have a significant impact on human resource management. The political and legal system may set restrictions on what is required of human resources, including hiring, firing, and layoffs as well as training and remuneration (Tambe et al., 2019). What constitutes lawful activity is discussed concerning the legal component. To better direct organizational change initiatives, for instance, learn the new administration’s goals for markets, sectors, and enterprises if a change in government is likely to occur in the coming year. The tendency toward local public opinion is the most potent trend in this area (Przytuła et al., 2020). The significance of this is highlighted by HR best practices, which makes it the primary motivator of most policies. That is relevant for SEIIC since the company did not respond well to the political fluctuations

The integration of religious accounting in the workplace is a significant HR trend in this field. Since religion in the workplace has become a hot topic for job applications, there are no definitive solutions. Best practices in this situation permit the proactive promotion of procedures that managers and executives may use to proactively adhere to and enforce corporate regulations while avoiding interpersonal problems with such issues (Livingston, 2018). Making ensuring an open door and complaints policy is put in place and well understood at work is one method to do this. As a big and one of the oldest companies, SEIIC should be proactive in engaging with employees to try to find a solution if staff members voice concerns about a perceived contradiction between their religious views and their employment.

Two broad tendencies may be seen in the social and cultural worlds. Transparency of the data comes first. Organizations have historically maintained strong confidentiality over their most sensitive employee-related data in line with policy and practice. Some people have decided to completely avoid gathering or analyzing this data in the name of risk minimization (Tambe et al., 2019). However, things are shifting quickly and will keep doing so during the next ten years. More trustworthy information about the effects of HR procedures and other areas of the employee experience is being sought by businesses (Tambe et al., 2019). Additionally, many are aware that developing trust, fostering a great workplace culture, and enhancing their brand all depend on being transparent about their internal problems to some extent. In this case, SEIIC should benefit from this trend to close the gap in development compared to the competitors.

The primary HR trends in the global and technological sphere are around changes in working conditions and the workplace environment as well as hybrid work. Modern HR best practices emphasize the development of technology that boosts the effectiveness of hybrid work as a significant trend. Due to the COVID-19 epidemic, people and businesses are becoming more interested in hybrid work patterns (Przytuła et al., 2020). In addition, a lot of people would hunt for employment if they had to spend their whole working day in an office. SEIIC can shift some of the operations to the remote office, therefore, this trend should be exploited.

Another important trend in the international and technical practice of HR is digital learning, training, and development. The epidemic has given rise to several chances for retraining and career development, including digital learning platforms. They make it possible for firms to automate workflows, exchange files, and resources, and help workers who want to further their careers (Przytuła et al., 2020). Most SEIIC employees have an engineering or technical background, which can be developed and expanded. The company should encourage employees to pursue their professional and personal objectives through workplace learning.

These trends are vital to accessing the potential success of recruitment and staffing policies. It is vital to monitor the constantly changing global and regional landscape, which can allow adjusting and development of the existing approaches. In a market where hiring technical staff is fiercely competitive, the trends need regular attention. HR is a binding domain in most companies, and its proper functioning will benefit the whole organization.

References

Livingston, J. (2018). HR trends that are emerging in the future of work. HR Future, 218(5), 16-17.

Przytuła, S., Strzelec, G., & Krysińska-Kościańska, K. (2020). Re-vision of future trends in human resource management (HRM) after COVID-19. Journal of Intercultural Management, 12(4), 15-28.

Tambe, P., Cappelli, P., & Yakubovich, V. (2019). Artificial intelligence in human resources management: Challenges and a path forward. California Management Review, 61(4), 15-42.

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