Hi all,
I need 4 different ways market demands will change the way HR department will do business. Also, I need to know 4 indicators that can be used to predict the future market and supply trends and how they will affect HR management.
From United Arab Emirates, Dubai
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I need 4 different ways market demands will change the way HR department will do business. Also, I need to know 4 indicators that can be used to predict the future market and supply trends and how they will affect HR management.
From United Arab Emirates, Dubai
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I will try 4 different ways in which the market will change HRM:
1. A keener look will be taken at judging competencies. It will be important — to find the right man for the right job.
2. Traditional thoughts will find a pride of place in policy-making, standing against market globalization.
3. There will be lesser dependence on manpower, with automation/IT being increasingly used to alleviate issues in people management.
4. Outsourcing of several core HR and allied functions (such as facilities management) will help in creating more virtual organizations.
I might be wrong; this was an exercise of my imagination. As Mick Cope says, "imagination is intelligence having fun." (Source: www.mickcope.com)
Regards,
Debraj.
From India, Calcutta
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1. A keener look will be taken at judging competencies. It will be important — to find the right man for the right job.
2. Traditional thoughts will find a pride of place in policy-making, standing against market globalization.
3. There will be lesser dependence on manpower, with automation/IT being increasingly used to alleviate issues in people management.
4. Outsourcing of several core HR and allied functions (such as facilities management) will help in creating more virtual organizations.
I might be wrong; this was an exercise of my imagination. As Mick Cope says, "imagination is intelligence having fun." (Source: www.mickcope.com)
Regards,
Debraj.
From India, Calcutta
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This is a macro approach.
While applying in practice, you should use micro data and real-life situations. As a broad guideline, the Human Resource Market is affected by:
1. Participation in the labor force:
- Employed, those in paid jobs.
- Unemployed, those looking for jobs.
For indicators, look at the national economic indicators where the indices are published.
2. Supply, the demographic:
- Population growth [growth rate]
- Male/female breakdown
- Education growth rate
For indicators, look at the national economic indicators where the indices are published.
3. Demand:
- Growth rate in the economy [GDP figures]
- Industrial/business services/other service sectors growth rate
For indicators, look at the national economic indicators where the indices are published.
4. Others:
- Change in technology introduction rate
- Productivity improvements
- Change in skill requirements
For indicators, look at the national economic indicators where the indices are published.
All the above-listed factors/changes within them will affect the HR market in any one or more than one key result areas. This will call for strategic changes of the HR direction.
Key Result Areas:
1. Recruitment/Selection
2. Workforce Planning and Diversity
3. Performance Management
4. Reward Management
5. Workplace Management and Relations
6. A Safe and Healthy Workplace
7. Building Capabilities and Organizational Learning
8. Effective HR Management Systems, Support, and Monitoring
Example 1:
The general economy is growing at 8%, and the BPO business service sector is growing at 35%. This means there will be a significant demand for trained staff and perhaps a short supply. The KRAs affected will be:
- Recruitment/Selection: speedy/smart selection
- Reward Management: market-oriented rewards
- Workplace Management and Relations: motivational programs
- Building Capabilities and Organizational Learning: multiskilling
Example 2:
The economy is in recession. This means there will be a surplus supply of staff and lower demand for staff. The KRAs affected will be:
- Workforce Planning: effective HR planning
- Performance Management: effective performance appraisals
- Workplace Management and Relations: motivational programs
- Effective HR Management Systems, Support, and Monitoring: effective use of HRIS systems to monitor
Example 3:
The introduction of new technology. This means there will be a shortage of knowledge/skills. The KRAs affected will be:
- Recruitment/Selection: new tech. recruits
- Workforce Planning and Diversity: strategic HR planning
- Performance Management: new criteria for PM
- Reward Management: revised rewards system
- Building Capabilities and Organizational Learning: new knowledge training
Example 4:
Demand for productivity improvements/globalization programs. This means a demand for changes in business skills. The KRAs affected will be:
- Recruitment/Selection: change in recruitment policies
- Workforce Planning and Diversity: change in workforce structure
- Performance Management: change in performance criteria
- Reward Management: performance-based rewards
- Workplace Management and Relations: effective supervision/people management skills
- Building Capabilities and Organizational Learning: more training of staff/middle management
- Effective HR Management Systems, Support, and Monitoring: effective HRIS systems to monitor
Hope this is useful to you.
Regards,
Leo Lingham
From India, Mumbai
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270While applying in practice, you should use micro data and real-life situations. As a broad guideline, the Human Resource Market is affected by:
1. Participation in the labor force:
- Employed, those in paid jobs.
- Unemployed, those looking for jobs.
For indicators, look at the national economic indicators where the indices are published.
2. Supply, the demographic:
- Population growth [growth rate]
- Male/female breakdown
- Education growth rate
For indicators, look at the national economic indicators where the indices are published.
3. Demand:
- Growth rate in the economy [GDP figures]
- Industrial/business services/other service sectors growth rate
For indicators, look at the national economic indicators where the indices are published.
4. Others:
- Change in technology introduction rate
- Productivity improvements
- Change in skill requirements
For indicators, look at the national economic indicators where the indices are published.
All the above-listed factors/changes within them will affect the HR market in any one or more than one key result areas. This will call for strategic changes of the HR direction.
Key Result Areas:
1. Recruitment/Selection
2. Workforce Planning and Diversity
3. Performance Management
4. Reward Management
5. Workplace Management and Relations
6. A Safe and Healthy Workplace
7. Building Capabilities and Organizational Learning
8. Effective HR Management Systems, Support, and Monitoring
Example 1:
The general economy is growing at 8%, and the BPO business service sector is growing at 35%. This means there will be a significant demand for trained staff and perhaps a short supply. The KRAs affected will be:
- Recruitment/Selection: speedy/smart selection
- Reward Management: market-oriented rewards
- Workplace Management and Relations: motivational programs
- Building Capabilities and Organizational Learning: multiskilling
Example 2:
The economy is in recession. This means there will be a surplus supply of staff and lower demand for staff. The KRAs affected will be:
- Workforce Planning: effective HR planning
- Performance Management: effective performance appraisals
- Workplace Management and Relations: motivational programs
- Effective HR Management Systems, Support, and Monitoring: effective use of HRIS systems to monitor
Example 3:
The introduction of new technology. This means there will be a shortage of knowledge/skills. The KRAs affected will be:
- Recruitment/Selection: new tech. recruits
- Workforce Planning and Diversity: strategic HR planning
- Performance Management: new criteria for PM
- Reward Management: revised rewards system
- Building Capabilities and Organizational Learning: new knowledge training
Example 4:
Demand for productivity improvements/globalization programs. This means a demand for changes in business skills. The KRAs affected will be:
- Recruitment/Selection: change in recruitment policies
- Workforce Planning and Diversity: change in workforce structure
- Performance Management: change in performance criteria
- Reward Management: performance-based rewards
- Workplace Management and Relations: effective supervision/people management skills
- Building Capabilities and Organizational Learning: more training of staff/middle management
- Effective HR Management Systems, Support, and Monitoring: effective HRIS systems to monitor
Hope this is useful to you.
Regards,
Leo Lingham
From India, Mumbai
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