HUMAN RESOURCE MANAGEMENT Name of the university Name of the university Author note

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HUMAN RESOURCE MANAGEMENT
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1HUMAN RESOURCE MANAGEMENT
Table of Contents
1. Introduction..................................................................................................................................2
2. Current business trends in retail industry....................................................................................2
3. Literature review..........................................................................................................................3
3.1 Business and labor employment statistics of retail industry..................................................3
3.2 Forecast for the retail industry...............................................................................................4
3.3 Utilization of information by HR planner.............................................................................6
3.4 Utilization of research for succession planning.....................................................................7
3.5 Importance of assessing personnel needs of organization through forecasts........................8
4. Conclusion...................................................................................................................................8
References........................................................................................................................................9

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1. Introduction
Organizations operate in the global market scenario with the continuous support of the
human resource. The different business trends that are affecting the structure of the markets also
infest modifications in the workforce practices for ensuring the sustenance of the businesses. The
research will clearly identify the different business trends that are faced by the retail industry.
The depiction of the labor employment statistics in the research and the possible future forecasts
will be helping the HRM in organizations to bring forth considerable changes in the staffing
methods as per the needs of the business. Therefore, the research aims at identifying the market
trends that are faced by the retail industry and the manner in which the staffing strategies might
be undertaken by the HRM for facilitating the needs of the ventures.
2. Current business trends in retail industry
The retail industry is growing in the different parts of the world with the changes in the
preference patterns of the customers. According to the US Commerce Department, the online
retail sales has grown by 300% between the years 2000 to 2018 (Kaufman, 2012). The key
changes that are encountered by the retail industry are dependent on the technological
innovations and the shifts in the customers buying behavior. However, as per the report, the
departmental stores suffered a drop by 50% of sales in the years (Henly & Lambert, 2014). The
online retailing industry has grown since the development of IoT (Internet of Things) and
making the same available to the mass. Suitable networking has helped in the development of the
retail industry as per the industry standards. The changes in the consumer spending trends and
the subtle modifications in expectation of the customers have brought about significant changes
in the retail industry. It has been reported that most of the customers prefer retailers who provide

3HUMAN RESOURCE MANAGEMENT
the same with customizable propositions as per the requirements. The technological innovations
that are encountered by the retail industry have thereby helped the same in maintaining the
efficacy of the retail organizations to adapt to the requirements of the customers. However,
Boxall (2012) stated that the workforce of the retail organizations has contributed to the growth
process more vehemently through the collaborative functioning of the same as per the
organizational objectives.
The major trends that are being encountered by the retail industry are:
 Amendment of customizable options along with the propositions to the customers in
order to maximize the customer satisfaction and loyalty
 Utilization of Robots or AI (Artificial Intelligence) and AR (Augmented Reality)
technologies for avoiding the human related errors in the processes that are designed by
the organization
 Utilization of updated social media platforms for facilitating large scale promotions at
lower costs
 Utilization of Big Data platforms for supporting the decisions that will be undertaken by
the retailers
 Bringing forth developments in the home delivery services for minimizing the time that
was earlier required for dispatching the orders to the customers
3. Literature review
3.1 Business and labor employment statistics of retail industry
Boxall (2012) stated that the retail industry in US is reported to grow by 0.2% by
November 2018, which is estimated to be 42 % increase from 2009's record. The yearly sales