Analysis of Political, Economic, Social Factors in HRM Context

This report provides an analysis of the political, economic, social, and technological factors influencing Human Resource Management (HRM), particularly within the context of Australia. The political aspects discussed include governmental stability, the impact of political parties' policies, government practices, and the influence of policies on the healthcare sector, including immigration and visa regulations. Economically, the report considers factors such as GDP, supply and demand, employment opportunities, economic downturns, competition in healthcare, and foreign investment policies. Socially, the report examines generational differences in the workforce, cultural diversity, discrimination, globalization, and the challenges these factors pose for HRM. Finally, the technological aspects cover the use of technology for patient data, medical treatments, and innovations in medical engineering. The report also references several academic sources that support the analysis.

HUMAN RESOURCE
MANAGMENT

POLITICAL
 Political stability of Government of Australia.
 Policies of different Government parties influences the working of professionals.
 Practises of Government.
 Continuous political struggles in the country.
 Reforms made by the Government of Australia in education sector.
 Training centres and schools set up by Government.
 Lack of focus on rules and regulations in respect of medical institutions.
 Policy of immigration of Australian Government affecting migration of medical service providers.
 Protocols of Government for getting visa.
 Policies within industrial relations.
 Rules and regulations related with licensing.

ECONOMICAL
 Level of gross domestic product of the country.
 Supply and demand.
 Employment opportunities to professionals
 Economic downturn due to financial constraints.
 Competition between healthcare institutions resulted in changes in recruitment and selection.
 Global level competition created imbalance in supply of professionals.
 Inflow of foreign currency in Australia.
 Policies of foreign direct investment.
 Policy of political party of Australian in respect of training and development.
 Facilities of Government for the development of healthcare professionals.
 Poor implementation of policies and programmes of Government.

SOCIAL
 Increase in multiple generations in workforce.
 The generation gap.
 Ethnicity, culture of healthcare professionals.
 Level of discrimination towards employees of healthcare institutions.
 Globalisation and migration of professionals from one country to another country.
 Diversity, culture and education creates challenges for Human Resource Department.
 Racism between employees and patients.
 Human Resource Management should motivate staff in developing creative solutions.
 Human Resource strategies for resolving conflicts.

TECHNOLOGICAL
 Technology for recording and sharing the data of patients
 Technology for treatment of patients.
 Information technology helping the doctors to understand medical history of doctors.
 Innovation in medical engineering.
 New and innovative techniques of performing various operations.
 Communities that are developing and supporting Open Medical Record System.
 Changes in information technology for analysing the data of patients.

REFERENCES
 Albrecht, Simon, Arnold Bakker, Jamie Gruman, William Macey and Alan Saks. 2015.
“Employee Engagement, Human Resource Management Practices and Competitive
Advantage: An Integrated Approach. Journal of Organizational Effectiveness: People
and Performance. 2(1): 7-35. https://doi.org/10.1108/JOEPP-08-2014-0042
 Bailey, Catherine, David Mankin, Clare Kelliher and Thomas Garavan. 2018. Strategic
Human Resource Management. Oxford: University Press.
 Bratton, John. And Jeff Gold. 2017. Human Resource Management: Theory and
Practice. Basingstoke: Palgrave MacMillan.
 Brewster, Chris and Ariane Hegewisch. 2017. Policy and Practice in European Human
Resource Management: The Price Waterhouse Cranfield survey. Taylor & Francis.

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