Below you will find examples of each of these factors.
Political (incl. Legal) [ [Poltical] EST[Environment][Legal] ]
==========================================
-Tax policies
what tax hinder the business and what taxes incentives are available]
[ if the tax policies are liberal / incentivated, businesses will add
expansion , which means the impact on HR
-MORE RECRUITMENT/ SELECTION
-MORE INDUCTION / ORIENTATION
-MORE TRAINING
========================================
-International trade regulations and restrictions
[ does the government encourage exports / with high tariffs on imports]
[ if the exports policies are liberal / incentivated, businesses will add
expansion , which means the impact on HR
-MORE RECRUITMENT/ SELECTION
-MORE INDUCTION / ORIENTATION
-MORE TRAINING
------------------------------------------------------------------------------------------
[ if the import policies are liberal / incentivated, local mfg. businesses will
contract , which means the impact on HR
-less RECRUITMENT/ SELECTION
-MORE TRAINING to improve efficiency / productivity
================================================== ====
-Employment laws]
[ is the government encouraging skilled immigrants with temp. permits]
[if the government relaxes the rules on skilled migrants,
which means the impact on HR
-EMPHASIS WILL BE ON FOREIGN RECRUITMENTS.
-DEVELOPMENT OF OVERSEAS CONTRACTS
-TRAINING FOR THE INCOMING STAFF ON LOCAL CULTURE.
-TRAINING FOR MANAGERS TO MANAGE DIVERSITY
================================================== =====
Economic [P[Economics][Social]TEL ]
-Economic growth
[ what is the economic growth rate / what are the reasons ]
[ if the economy is on growth path, businesses will add
expansion , which means the impact on HR
-MORE RECRUITMENT/ SELECTION
-MORE INDUCTION / ORIENTATION
-MORE TRAINING
-COMPENSATION NEEDS REVISION
--------------------------------------------------------------------------------
[ if the economy contracts/demand drops, businesses will reduce
volume , which means the impact on HR
-less RECRUITMENT/ SELECTION
-MORE TRAINING TO IMPROVE EFFICIENCY/PRODUCTIVITY
-MORE INCENTIVATES FOR PRODUCTIVITY GAIN
================================================== =
-Interest rates & monetary policies
[ are the interest rates under control / is there a sound monetary policies]
[ if the interest rate goes down/ the monetary policies are liberal,
as the demand goes up, businesses will add
expansion , which means the impact on HR
-MORE RECRUITMENT/ SELECTION
-MORE INDUCTION / ORIENTATION
-MORE TRAINING
----------------------------------------------------------------------------
[ if the interest rate goes up , the demand will go down
businesses will downsize / cut cost
which means the impact on HR
-less RECRUITMENT/ SELECTION
-MORE TRAINING for efficiency / productivity improvements
-EMPHASIS WILL BE FOR ''PAY FOR PERFORMANCE''.
================================================== =
-Government spending
[is government spending is significant and is it under control ]
[ if the government increases the spending on infrastructures etc,
the demand goes up , businesses will add
expansion , which means the impact on HR
-MORE RECRUITMENT/ SELECTION
-MORE INDUCTION / ORIENTATION
-MORE TRAINING
==================================================
-Unemployment policy
[what is the employment / unemployment policies of the government ]
================================================== ===
-Taxation
[ has the taxation encouraged the industry ]
[ if the taxation policies encouraged the industry, businesses will add
expansion , which means the impact on HR
-MORE RECRUITMENT/ SELECTION
-MORE INDUCTION / ORIENTATION
-MORE TRAINING
================================================== =====
-Consumer confidence
[ is the consumer confidence is high/ strong and if not, why ]
[ as the consumer confidence goes up, more jobs are created,
demand for product/services will go up, businesses will add
expansion , which means the impact on HR
-MORE RECRUITMENT/ SELECTION
-MORE INDUCTION / ORIENTATION
-MORE TRAINING
==================================================
Social [ PE[Social]TEL ]
-Income distribution
[is there balanced income distribution policy ]
[ as the income level goes up and income distribution improves,
demand for product/services will go up, businesses will add
expansion , which means the impact on HR
-MORE RECRUITMENT/ SELECTION
-MORE INDUCTION / ORIENTATION
-MORE TRAINING
==================================================
-Demographics, Population growth rates, Age distribution
[ what is population growth and why ]
[ as the population level goes up and age distribution improves,
demand for product/services will go up, businesses will add
expansion , which means the impact on HR
-MORE RECRUITMENT/ SELECTION
-MORE INDUCTION / ORIENTATION
-MORE TRAINING
================================================== ==
-Lifestyle changes
[ are there significant lifestyle changes taking place--more modernization/ why ]
[ as the life style goes up and more modernization improvements,
demand for product/services will go up, businesses will add
expansion , which means the impact on HR
-MORE RECRUITMENT/ SELECTION
-MORE INDUCTION / ORIENTATION
-MORE TRAINING
================================================== =======
-Work/career and leisure attitudes
[ are the population career minded and are seeking better lifestyle]
[ as the income level goes up and workers attitudes changes,
demand for product/services will go up, businesses will add
expansion , which means the impact on HR
-MORE RECRUITMENT/ SELECTION
-MORE INDUCTION / ORIENTATION
-MORE TRAINING
==================================================
-Education
[ what are the education policies / is it successful ]
[ as the education level goes up and income distribution improves,
demand for product/services will go up, businesses will add
expansion , which means the impact on HR
-MORE RECRUITMENT/ SELECTION
-MORE INDUCTION / ORIENTATION
-MORE TRAINING
================================================== =====
-Living conditions
[ is the living conditions improving fast and spreading rapidly]
[ as the income level goes up and living conditions improves,
demand for product/services will go up, businesses will add
expansion , which means the impact on HR
-MORE RECRUITMENT/ SELECTION
-MORE INDUCTION / ORIENTATION
-MORE TRAINING
================================================== =======
Technological [ PES [Technology] EL]
==================================================
Industry focus on technological effort
[are the industries focused on using improved technology]
[ as the industry focuses on technology, more jobs are created,
demand for product/services will go up, businesses will add
expansion , which means the impact on HR
-MORE RECRUITMENT/ SELECTION
-MORE INDUCTION / ORIENTATION
-MORE TRAINING
================================================== ======
New inventions and development
[ are new inventions being encouraged for developments]
[ as more inventions are brought out, more jobs are created,
demand for product/services will go up, businesses will add
expansion , which means the impact on HR
-MORE RECRUITMENT/ SELECTION
-MORE INDUCTION / ORIENTATION
-MORE TRAINING
================================================== ====
Rate of technology transfer
[ is the rate of technology transfer is speeding up ]
[ as the rate of technology transfer speeds up, more jobs are created,
demand for product/services will go up, businesses will add
expansion , which means the impact on HR
-MORE RECRUITMENT/ SELECTION
-MORE INDUCTION / ORIENTATION
-MORE TRAINING
================================================== =====
(Changes in) Information Technology
[ is the information technology rapidly moving and is there government support]
[ as the IT usage increases, more jobs are created,
demand for product/services will go up, businesses will add
expansion , which means the impact on HR
-MORE RECRUITMENT/ SELECTION
-MORE INDUCTION / ORIENTATION
-MORE TRAINING
================================================== =========
FOR EACH OF THE ELEMENTS,
-I HAVE SHOWN THE POSITIVE SIDE OF THE POLICIES,
THE BUSINESS POSITIVE IMPACT
-THE POSITIVE HR REACTIONS.
IN THE SAME MANNER,
-ALL NEGATIVE SIDE OF THE POLICIES, WILL HAVE
THE BUSINESS NEGATIVE IMPACT
WHICH MEAN HRM WILL HAVE TAKE RATIONAL
ACTION PLAN TO SUIT THE SITUATIONS, WHICH COULD INCLUDE
-downsizing of employees nos.
-restructuring of the organization
-re training
-multiskilling
-jobs re organization
-more skill training
-pay for performance
etc etc etc.
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regards
LEO LINGHAM