Human Resources Homework

Human Resource Management Strategy and Emerging Issues 1

Course Learning Outcomes for Unit I Upon completion of this unit, students should be able to:

1. Explain how the human resources function is affected by the employment trends of the 21st century. 1.1 Explain how technological advances have had an impact on daily work life. 1.2 Formulate methods for reviewing the massive global and economic trends. 1.3 Discuss the multiple U.S. labor force trends that affect competitive advantage. 1.4 Analyze how the increasing complexity of the competitive marketplace affects the organization. 1.5 Assess the structural changes in the economy due to technological advances, increased

globalization, and unfavorable demographic trends.

Reading Assignment Chapter 1: Welcome to the New Normal

Unit Lesson Ask any human resources executive what the major issues facing the success of an organization and the human resources function in the 21st century are, and they will most likely say the following first: the impact of technological advances. Further improvements in computer and communication technologies can change every aspect of our lives. Second are the “massive global population and economic trends that are fundamentally altering the world of business and work” (Castellano, 2014, p. 9). The third is globalization:

[With] the global workforce growing and becoming much more educated, putting pressure on white-collar workers’ wages and incentivizing many U.S. businesses to move operations overseas and offshore back office and IT functions. [. . .] Cheap imports from developing countries, have helped to keep inflation and interest rates down, benefitting consumers and businesses. (Castellano, 2014, p. 10)

Last is the rapid increase in birth rates that occurred after World War II—now referred to as the baby boom (Castellano, 2014). Baby Boomers (76 million) are seeing 65 years old at a rate of 10,000 people per day, with Generation X (36 million) trying really hard to fill those shoes but lacking the skill sets required for many upper-level jobs. This unit introduces the concept of an organization in an economic environment like the U.S. has never experienced. Organizations today are exposed to major shifts in the structure of the economy. These global shifts are blamed on technological advances, increased globalization, and unfavorable demographic trends (Castellano, 2014). In addition, any organization on the global stage and in the global marketplace is becoming more and more dependent and affected by minor changes to the world’s economy. The butterfly effect is the belief that if a butterfly flaps it wings in China, changes in the wind current can be felt across the world almost instantly. That is how closely global economy is connected. One example of the butterfly effect can be found in the film It’s a Wonderful Life. This movie tells the story of George Bailey and how rewriting history so that he was never born would have detrimentally affected the lives of almost everyone in his hometown. Another example is the changing standard of living around the world.

UNIT I STUDY GUIDE

Welcome to the New Normal

Human Resource Management Strategy and Emerging Issues 2

UNIT x STUDY GUIDE

Title

Today, China has a 300-million-person middle class, and the pay standards continue to rise. When pay goes up in China with just a small variation, it impacts the global marketplace for the costs of goods and services. The human resources function must evolve from a narrowly focused business function where personnel and payroll were the major activities to a human resources function that can design formal systems. These systems will support and enhance an organization’s ability to be successful in the 21st century where the marketplace can be chaotic and changing. Systems should ensure the effective and efficient use of human capital to accomplish organizational goals. Effective human resources add value by providing leadership and essential functions for organizations that seek to remain competitive and fulfill their organizational missions. The successful organization in the 21st century will have a competitive advantage when it is effective at harnessing the innovation and creativity of the 21st-century knowledge worker.

Reference

Castellano, W. G. (2014). Practices for engaging the 21st century workforce: Challenges of talent management in a changing workplace. Upper Saddle River, NJ: Pearson Education.

Suggested Reading The following article can be found in the Waldorf Online Library (Business Source Complete database): Mishra, A. (2014). Getting a good break. Business Today, 23(7), 109-110.

Learning Activities (Non-Graded) After reading the Suggested Reading article, think about your own role as a future human resource executive. How will you be sure there is equity in the workplace of the 21st century? Please discuss this in the Student Break Room. Non-graded Learning Activities are provided to aid students in their course of study. You do not have to submit them. If you have questions, contact your instructor for further guidance and information.