Essay on Contemporary Business World - HR
Added on 2020-07-23
13 Pages4098 Words181 Views
Professional DevelopmentLanguages and CulturePolitical Science
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‘THE EVOLVING ROLE OF HRIN THE CONTEMPORARYBUSINESS WORLD’
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Evaluating and assessing the range of factors which impact an organisation as well as HRfunction.......................................................................................................................................1TASK 2............................................................................................................................................32.1 Critically analysing the unique forces responsible for shaping HR agenda..........................32.2 Describe usage of and then in a considered manner compare and contrast at least twodifferent analytical and strategic tools........................................................................................42.3 Precise the key stages in strategy formulation......................................................................52.4 Highlighting HR's contribution within the ethics and accountability of business................6TASK 3............................................................................................................................................73.1 Evaluating the performance in business................................................................................73.2 Provide sources in context to business and contextual data and their support in strategyformulation, planning etc............................................................................................................8CONCLUSION................................................................................................................................8REFERENCES .............................................................................................................................10
INTRODUCTION Globalization has paved the way for the business organizations to expand their businessin new market areas (Cavusgil and et.al., 2014). Role of HR is changing in the contemporarybusiness world and thus it has become imperative for the organizations to develop strategies forachieving competitive advantage for the business. Present report describes about diverse range offactors that gives impact on the organisation and HR functions that are performed in thebusiness. In addition to that selection of unique forces that are shaping the HR agenda has beenexplained. Moreover, two analytical tools that could be used by business for evaluating businessenvironment has been done. Furthermore, selection of ways through which business performancecan be evaluated. TASK 11.1 Evaluating and assessing the range of factors which impact an organisation as well as HRfunctionGlobalization has paved the way for the business organizations to expand their businessin new market areas. It is critical that strategic approaches should be used by the businessorganizations for gaining huge success and growth. Human resource are one major significantassets of any firm who contribute for accomplishing the goals and objectives of the venture insuccessful manner. In addition to that there are various factors which gives impact on theorganisation and HR functions. Current market and economic conditions are major contributorsthat affect the HR functions of any venture. Brexit has given major impact on the functioning of the companies in U.K. After Brexitrules and policies framed by European Union will not be going to get implement on the U.K.New rules and policies will be formed by the government and all the organizations workingacross U.K. Will be liable to follow the policies and rules that are formed by new government.Existing HR legislation will be changed and thus procedures through which Human resource ismanaged in companies will also be going to get changed. Further, general election in UK that hastaken place on 7 May 2017 are also going to give major impact on existing HRM practices thatare performed in the organizations (Baum, 2015). In the new government policy Conservative party has made commitment towards endingthe tax payers funded Six figures payoffs for the public sector workers. New legislation whichhave been framed by new government will be affecting the various HR legislation that are1
followed in the entity. In the Post Brexit Era UK will be having More freedom for deciding andimplementing various rules and regulations framed by current government working in the nation.In addition to that technological trends that are followed in the nation also affect the HRMworking practices (Solnet, Kralj and Baum, 2015). Advancement in technology has supported forimproving the existing HR practices and with this it has become easier for managers to performthe HR functions in effective manner. Moreover, use of innovative technology has also helpedfor carrying out the HR functions in effective manner. Recruitment and selection procedures are executed in effective way by making use ofadvanced technology and with this training and development of staff members is also done inproper way. Computer and software systems also help for performing various HR functions inmore effective manner (Elkeles, Phillips and Phillips, 2016). Social trends that are presentlyrunning in the society also gives impact on the organizations and various types of HR functionsrunning in the society. Social trends such as use of social networking sites, social media andother connectivity mediums have reduced the gap among people and thus it has becomeindividuals to get in touch with each other. It has become easier for people to get connected with each other and employee referralschemes have become easier for implementing. Employee referral schemes have becomes easierto implement and through this talented and suitable candidates are hired in the organisation. Useof social media platform also supports for reaching to large number of candidates and invitingthem to fill vacant positions in the firm. Moreover, Demographic trends also gives impact on theworking of the organizations. Globalization has paved way for individuals to work in leadingorganizations and thus more talented and suitable candidates are working in the organizationsacross UK (Aswathappa, 2013). Difference in language, cultural barriers, geographical backgrounds and other areas anddue to that difference is observed in the demographic profile of individuals that are working inthe enterprise. Furthermore, it is a challenging task to manage vast number of employees that arecoming from different geographical and demographic backgrounds. External factors areimportant as they contribute towards making improvements in the HRM practices that areperformed in the entity (Chebbi and et.al., 2015). Advanced technology is also helping for opportunities for business to Makeimprovements in the existing practices that are used by them. Asian markets including India,2
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