The Big Issues Facing HR - SHRM

Running head: BUSINESS ISSUES AND HUMAN RESOURCE MANAGEMENT
BUSINESS ISSUES AND HUMAN RESOURCE MANAGEMENT
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BUSINESS ISSUES AND HUMAN RESOURCE MANAGEMENT1
Table of Contents
Introduction................................................................................................................................3
Discussion..................................................................................................................................3
Key Forces affecting HR agendas..........................................................................................3
Functions of the HR...........................................................................................................4
HR strategies......................................................................................................................5
Business ethics...................................................................................................................6
HR Insights.........................................................................................................................7
Tools for analyzing Business Environment...........................................................................7
SWOT Analysis.................................................................................................................8
PESTEL Analysis...............................................................................................................8
Porter’s Five Forces...........................................................................................................8
Comparison of the Tools....................................................................................................9
Factors influencing HR Functions.........................................................................................9
Corporate Objectives........................................................................................................10
Technological Resources.................................................................................................10
Economic factors..............................................................................................................11
Legal factors.....................................................................................................................11
Strategy Formulation and Implementation...........................................................................11
Evaluation of Business Performance...................................................................................13
Role of HR in Business Planning and Change.....................................................................13

BUSINESS ISSUES AND HUMAN RESOURCE MANAGEMENT2
Sources of Business and Contextual Data............................................................................14
Conclusion................................................................................................................................15
References................................................................................................................................17

BUSINESS ISSUES AND HUMAN RESOURCE MANAGEMENT3
Introduction
The rapidly evolving scope of global business environments has made the role of
Human Resource Management critical in the planning processes in order to drive strategic
growth. The largely administrative role of the Human Resources, pertaining to providing
support and assistance to the employees and workers of a business organization has
undergone a significant transformation. In the present age of rapid globalization and
technological advancements, Human Resource Management plays an important role in the
strategic position assumed by an organization in its competitive business environment
(Johnson, Lukaszewski and Stone 2016). In this regard, it can be mentioned that the
functions, operations and strategies adopted by the Human Resource Management System is
hugely dependent on the objectives, internal strengths, weaknesses, opportunities and threats
faced by the organization. The primary functions of the Human Resource Management
System of organization pertaining to selection, recruitment, retention and management of
employees are performed keeping into consideration the organizational goals and objectives.
The formulation of appropriate strategies for Human Resources further aids the organization
to research into such practices and methods of operations that will enable them to obtain and
maintain a competitive advantage in the market (Monks et al. 2013). The essay will further
focus on the analysis and discussion of the role of Human Resources in various business
environments, with respect to the various strategies and changes implemented by business
organizations.
Discussion
Key Forces affecting HR agendas
The main agendas of the Human Resource Management System of a business
organization pertains to the functions of talent development, employee engagement,