3 Major Human Resource Issues in Australia

2829 WordsFeb 1, 200812 Pages
Executive Summary This assignment is a portfolio, based on three current topics in Human Resource Management. The common theme of all the media articles I reviewed is the recognition of people as an asset by the organisations to achieve their strategic goals and objectives. It is observed that organisations are directing their efforts to recruit, retain and develop this asset. On reviewing the media articles, I have summarised the current HR issues in the following topics. • Employee retention: A Link with the Bottom Line • Aging workforce: A determinant in HRP • Training & Development: A powerful HRD strategy * The media articles are not attached however the ""REFERECES" section contains complete references for each article.…show more content…
George Bank has recently announced 12-months unpaid grandparents' leave in order to retain older staff and promote a family-friendly workplace. Although compensation based strategies play a role in retention, there's more to keeping employees these days than offering cash incentives. Companies are also realising the importance of organisational fit in retaining employees. Ochstein (2007) reports through "The Tribune Business Weekly" that Daman Products, USA increased its employee retention rate since the company changed its hiring tactics to hire people with soft skills (ability to communicate effectively, working in a team, display strong work ethic etc. ) and then train them for the technical skills. He indicates that when the company first started, 34% of employees left within 2 years, this percentage is now down to 17. Summary of Key Findings Workforce turnover is a complex and important issue amongst today's organisations. It is perhaps one of the most often cited cause of increased cost and decreased productivity. No wonder people management has become an important frontier to extract and create more value from company assets. On comprehending the articles, it has become evident that organisations have moved beyond the traditional approach of only investing in core business activities, to invest in employee retention strategies. Many organisations, for example St. George Bank
Open Document