Photo AI
Analyse the response of human resource management to economic, technological and social influences. - HSC - SSCE Business Studies - Question 26 - 2017 - Paper 1
Question 26
Analyse the response of human resource management to economic, technological and social influences.
Worked Solution & Example Answer:Analyse the response of human resource management to economic, technological and social influences. - HSC - SSCE Business Studies - Question 26 - 2017 - Paper 1
Step 1
Economic Influences
Answer
Human resource management (HRM) is significantly impacted by various economic factors. The economic cycle plays a crucial role; during periods of growth, companies may expand, leading to increased hiring and investment in training and development. Conversely, during economic downturns, HRM must adapt by implementing cost-cutting measures, which may include layoffs, reduced hiring, or altering compensation structures. Additionally, globalization necessitates HRM to align practices with international standards and labor laws, influencing recruitment strategies and employee retention.
Step 2
Technological Influences
Answer
Technological advancements compel HRM to evolve continually. The rise of new communication technologies allows for more efficient remote work and virtual teams, transforming traditional work dynamics. Additionally, disruptive technologies, such as AI and data analytics, enable HRM to enhance recruitment processes, improve employee engagement through tailored learning opportunities, and streamline administrative tasks. Thus, HRM must integrate these technological tools to remain competitive and responsive to employee needs.
Step 3
Social Influences
Answer
Social factors profoundly affect HRM practices as well. Changing work patterns, including increased demand for flexible work arrangements, require HRM to implement policies that support work-life balance. Job mobility trends encourage HR departments to focus on employee satisfaction and retention strategies, which may incorporate altering benefits packages or enhancing career development opportunities. Additionally, shifting societal norms around diversity and inclusion are reshaping HR policies, compelling organizations to adopt proactive measures to foster inclusive workplaces.