1. Introduction Today, the fast rising of population does not necessarily go hand in hand with a surplus in supply of skilled workers. The lack of employees with suitable knowledge and training creates “a war for talent,” in which every company tries its best to attract as many talents as possible to increase its competitive advantage. Despite always improving human resource strategies, companies still face a lot of difficulties in meeting the needs of employees. Among many current and emerging challenges that human resource practitioners have to cope with in meeting the diverse needs of the contemporary workforce, the three most influential ones are shortage of labor, globalization, and the differing needs and expectations of a workforce spanning from Baby Boomers to Generation Y. This paper will discuss the above critical factors that need to be paid more attention in human resource strategies with supporting materials ranging from theories of human resource practice to modern day issues. 2. Body 2.1 Shortage of labour First and foremost, the most critical problem that organizations around the globe are facing is the shortage of skilled labor to secure their future workforce. According to statistics, more than 25 percent of the labor force would reach the age of retirement by 2010, which would lead to a shortage of approximately 10 million workers (Schildhouse, 2006). It is evident that even though this news on the scarcity of skilled employees presents issues for both
Today there is a critical shortage of “qualified” workers. There are both worker shortages as well as skill gaps in addition to low unemployment rates which are making it very difficult to recruit talent.
6. If employers fail to check closely enough on a prospective employee who then commits a crime in the course of performing his/her job duties, they can be held liable for:
Between the disparities, the economic areas of supply and demand of occupations globally, international organizations will soon need to compose their staff with a workforce that is highly diverse, and will need to manage thoroughly in order for then to work together. The human resource departments of these organizations will need to implement new recruitment strategies that can effectively match talent with the correct task even if it’s located on the other side of the world.
An egalitarian organization is where people are treated fairly and where people from disadvantaged social groups have the same chances as those from more advantaged groups. In order to become a more egalitarian organization, an understanding of causes and solutions of inequality are needed. Inequality is the existence of unequal opportunities and rewards for different social positions or statuses within a group or society. (Crossman, 2014) There are many forms of inequality, e.g. ethnicity and gender. In this essay, I will focus on gender inequality. Gender inequality can be defined as allowing people different opportunities due to perceived differences based solely on issues of gender. (Sage reference) I will first state reasons and
Companies and HR professionals have jobs they need to fill to meet their business goals to meet, but the process is broken. There are millions of people still looking for work and jobs openings that are being left unfilled. According to 17th Annual Global CEO Survey conducted by PwC, HR and talent shortages are significant problems. “93% say that they recognise the need to make a change, or are already changing, their strategy for attracting and retaining talent. But there’s still an enormous gulf between intention and action; a staggering 61% of CEOs haven’t yet taken the first step.”
Wheeler (1998) suggests that manufacturing organizations are moving to more advanced and sophisticated processes that require a workforce with advanced skill sets. The successful recruitment and development of skilled labor is imperative as technological advances and complex machinery becomes a necessity for manufacturing companies to remain competitive (Thornhill, 2006). Michaels, Handfield-Jones, and Axelrod (2001) propose that declining birth rates and earlier retirements could create a skills shortage in critical areas. They refer to this trend as the impending “War for Talent.” The aging workforce continues to be a growing concern for organizations (Bloom, Canning, & Sevilla, 2003). Thomas Calo (2008) has sent a call to action for HR professionals. He first warns of the effect the retirement of baby boomers will have on
In the past decade, globalization and rapid technology advancement have change the way organisation do business from international conference calls to the hiring of employees. This has also transform how Human Resources Management (HRM) operates.
In terms of my role within the Merseyside Sudanese Community as a general secretary, I have gained relevant experience in dealing with various individuals from different backgrounds. I was appointed to setup and organize a charitable organization to focus working with a professional team from the LVCS. I gained vital firsthand experience in the functions of organizational memberships, in which, I contributed in the writing the constitutions and organizational objectives, involving policies, and aspects of human resources. I wanted to furthermore develop my proficiency and understanding of human resources a management to enable and encourage myself to explore and carry on with the new career in this field once I complete my studies. I am
In this changing world, our global business theories and literature have implications toward the future. The future of this growth and success depends largely on the key component which is Human Resource Management. So, we as researchers hope to enlighten and inform you as employers the significance of an effective solution that both understands your employees and is beneficial to your company. That is why we offer our recommendations in the end of this article based on our findings.
The main domain of subject study is Strategic Human Resources Management and is mainly aimed to conceptualize the concept of Talent Management. The Talent Management refers to the process employed in order to anticipate human resources requirements to an organization at particular time and include strategy formulated in order to meet that requirements (Groysberg, 2006). The talent management process includes distributing the responsibilities and accountabilities from human resources department and personnel to all departments throughout an organization. The strategic importance of locating and retaining employees around the business world has recognized this as “War for Talent”. This field of management is
In the recent economic changes, talent management has become the important part of the human resource management as organizations are challenged for maintaining innovation and growth and the forecast predicts leaders are in search of anchors for their corporate ships. Leaders believe that talent management means maximizing business potential through people by selecting right people, develop their potential, build their commitment and support them with changing periods. Talent management plays crucial role in the development of an organization. An organization invest capital in technology and infrastructure for growth but does not get the desired outcome because of inefficient manpower involved in making strategies and
The first challenge facing human resource professionals in “The War for Talent” is addressing the emerging skills gap. As stated in Lauby (2016) The American Society for Training and Development (ASTD) defines the skills gap as “the gap between an organization’s current capability and those it needs, to achieve its goals”. According to Lauby (2016), the skills gap prevents companies from being competitive because they have reached the point where they are unable to expand because they cannot engage or do not possess employees with the requisite skills,
Human resource managers have “honed their skills” and focused on developing competencies that assist companies in not only the tasks of “recruiting” employees, but developing the positions and personnel that will ensure the success of the organization (McKee & Wortham, 2013). Strategic Human Resources Management involves not only being a leader, but also the development of leaders (McKee & Wortham, 2013). “Engaging” employees has become key, and not only do HR professionals need to continue to be savvy in their ever changing “technological” climate; they need to become more diverse (McKee & Wortham, 2013). The main purpose of the article is to reinforce the importance of continued learning and development for employees, and especially for human resource professionals that will enable them to best assist in the management of their organizations “strategy and design,” and to advise their leaders in this ever-changing “global and culturally diverse workforce” through continued “technical, cognitive, and emotional intelligence” development (McKee & Wortham, 2013).
In today’s interconnected environment, the possibility to work in isolation is infinitesimally small. Its internal, micro affects any organization, either positively or negatively, and macro environment and so does its Human Resources policies and practices. The internal environment is shaped by the employees, the office technology etc.; the microenvironment relies on forces like the competitors, suppliers and distributors. The Political, Economic, and Socio-cultural, Technological, Environmental and Legal forces, on the other hand, determine the macro environment. Being an integral part of any Organization, it is very important for the HR practitioners to keep track of the macro environment as because of its broader aspect and a much
The future looks even more exciting and threatening. Organizations are gearing up for the difficult times ahead by tapping all the resources on hand. Organizations realize that their people or employees would be one of the prime resources for establishing a competitive edge in the future. Consequently, organizations would require workable strategies to align the individual talents/strengths of their people towards business goals. This is where Human Resources professionals can play a deciding role.