Trends in Human Resource Management
Summary
TLDRThis video script explores major HR trends impacting modern workforce management. It discusses understanding the evolving labor force, supporting organizational strategies, and leveraging global HR. Advances in technology, particularly the internet, are highlighted for transforming HR practices. The script emphasizes the importance of diversity, high-performance work systems, and strategic HR alignment with company goals. It also touches on the challenges and opportunities presented by globalization, HRIS, people analytics, and the changing nature of employment relationships.
Takeaways
- 🔍 Major HR trends are shaping the modern labor force and affecting how organizations manage human resources.
- 🌐 The composition of the labor force is changing, with an increasing emphasis on diversity and the inclusion of immigrants and global operations.
- 📊 The Bureau of Labor Statistics (BLS) forecasts significant growth in the U.S. labor force and highlights the importance of understanding demographic shifts.
- 🌈 The workforce is becoming more racially and ethnically diverse, requiring HR to ensure unbiased systems and value diverse perspectives.
- 💼 The role of HR is expanding to support organizational strategy, including high-performance work systems and employee empowerment.
- 📈 Technology, especially the internet, is transforming organizations and providing new tools for HR management.
- 🌟 Knowledge workers are increasingly important, and organizations must adopt management styles that focus on developing and empowering these employees.
- 💡 HR plays a strategic role in aligning policies and practices with company strategies, including cost control and quality emphasis.
- 🌍 Global expansion poses challenges for HR, requiring expertise in cultural differences and international workforce management.
- 💻 Advances in HRIS and people analytics are enabling HR professionals to think strategically and make data-driven decisions.
- 🔧 The psychological contract between employers and employees is evolving, with a focus on flexibility and mutual responsibility for career development.
Q & A
What are some major trends affecting human resource management?
-Major trends affecting human resource management include understanding the modern labor force, supporting organizational strategy, global expansion, technological changes, and evolving employment relationships.
What does the term 'labor force' refer to in the context of HR?
-The term 'labor force' refers to all people who are willing and able to work for an organization, including both the internal labor force (employees and contracted workers) and the external labor force (those actively seeking employment).
What role does the Bureau of Labor Statistics (BLS) play in tracking labor force trends?
-The BLS tracks changes in the composition of the U.S. labor force and forecasts employment trends, providing valuable data for HR professionals to understand workforce dynamics.
What is the projected growth of the U.S. civilian labor force from 2016 to 2026 according to the BLS?
-The BLS has projected that the total U.S. civilian labor force will grow from 156 million to 168 million workers from 2016 to 2026.
How is the racial and ethnic composition of the 2026 workforce expected to change compared to the past?
-The 2026 workforce is expected to be 76% white, 13% African American, and 11% Asian and other minorities, with the fastest growing categories being Asian and other groups due to higher immigration rates.
Why is gender diversity in the labor force increasing?
-Gender diversity is increasing due to more women participating in the paid labor force than in the past, with women's share of the labor force expected to remain around 47%.
What is the strategic role of HR in supporting a company's goals?
-The strategic role of HR involves using knowledge of the business and human resources to help the organization develop strategies, align HR policies and practices with those strategies, and support broad goals such as profitability, quality, and market share.
How does HR support cost control in an organization?
-HR supports cost control by helping the organization use human resources more effectively and efficiently, as well as by making HR processes as efficient as possible.
What challenges does global expansion pose for human resource management?
-Global expansion challenges HR by requiring an understanding of cultural differences that shape employee conduct worldwide, and the need for HR expertise in selecting and preparing employees for international assignments.
What is an HRIS and how does it benefit HR professionals?
-An HRIS (Human Resource Information System) is a computer system used to manage information related to an organization's human resources. It benefits HR professionals by supporting strategic decision-making, helping to avoid lawsuits, providing data for evaluating programs or policies, and supporting day-to-day operations.
What is the concept of 'people analytics' in HR?
-People analytics refers to the use of computers to analyze large amounts of data and offer information to guide decisions in human resource management.
How is the employment relationship changing in modern organizations?
-The employment relationship is changing with a shift towards a more flexible psychological contract, where employees take more responsibility for their careers and employers provide flexible schedules and working conditions.
What is the significance of flexibility in human resource management today?
-Flexibility in human resource management is crucial for survival in a fast-changing environment, including flexible staffing levels and work schedules to meet the demands of global markets and e-commerce.
Outlines
🔍 Modern Workforce Trends and HR Management
The first paragraph discusses the major trends in human resource management, focusing on understanding the modern labor force and its future composition. It highlights the importance of HR's role in supporting organizational strategy, including high-performance work systems and employee empowerment. The text also touches on global hiring trends, the impact of the internet on organizational structures, and the evolving nature of employment relationships. The Bureau of Labor Statistics (BLS) projections for labor force growth and diversity are mentioned, emphasizing the need for HR to be aware of external labor market trends to create a skilled and motivated workforce. The paragraph concludes with the necessity for employers to ensure unbiased HR systems that value diverse perspectives for organizational success.
📈 Strategic HRM and Technological Advancements
The second paragraph delves into the strategic role of human resource management (HRM) and its evolution. It outlines how HR professionals use their knowledge to align HR policies with organizational strategies, focusing on quality, growth, and efficiency. The text discusses the impact of changing customer needs and technology on work processes, including the concept of re-engineering for efficiency and quality enhancement. The challenges and considerations of a global workforce are explored, along with the importance of HR expertise in international assignments. The paragraph also examines the role of computer technology and HR information systems (HRIS) in strategic decision-making and data protection. It concludes with the rise of people analytics and self-service HR, highlighting the importance of flexibility and a forward-thinking approach in organizations and their employees.
🎵 The Future of Employment Relationships
The third paragraph, marked by a music cue, is incomplete and does not provide substantial content for analysis or summary. It seems to be an introductory or transitional element, possibly indicating a change in the topic or a pause for a musical interlude in the video script.
Mindmap
Keywords
💡HR Trends
💡Labor Force
💡Organizational Strategy
💡Globalization
💡Technology
💡High-Performance Work Systems
💡Knowledge Workers
💡Empowerment
💡HR Information System (HRIS)
💡People Analytics
💡Psychological Contract
💡Union Membership
Highlights
Understanding the modern labor force is a key HR trend, determining future workforce participation.
HR's role in supporting organizational strategy through high-performance work systems and teamwork empowerment.
Globalization's impact on HR, with more organizations hiring immigrants and expanding overseas.
The transformative role of the internet in organizational structure and HR management practices.
Changing nature of employment relationships, with more flexible careers and job arrangements.
The importance of the labor force composition and its impact on creating a skilled and motivated internal workforce.
Bureau of Labor Statistics projections for U.S. labor force growth from 2016 to 2026.
Increasing racial, ethnic, and gender diversity in the workforce and its implications for HR practices.
The necessity for employers to ensure unbiased HR systems that value diverse perspectives.
The evolution of employee responsibilities requiring creativity and interaction with customers.
HR's strategic role in aligning policies and practices with company strategies for broad goals.
The significance of knowledge workers and the management style required to leverage their specialized knowledge.
The benefits of teamwork in increasing employee motivation and job satisfaction.
HR's growing central role in supporting company strategy and meeting goals like profitability and market share.
Challenges and opportunities in HR management due to global expansion and cultural differences.
The importance of HR expertise in international assignments and preparing employees for global roles.
Advances in computer technology and their impact on HR information management through HRIS systems.
The strategic advantage of HRIS in decision-making, avoiding lawsuits, and supporting daily operations.
The concept of people analytics in HR and its application in maintaining records and self-service for employees.
The reshaping of the employment relationship and the evolving psychological contract between employers and employees.
The decline in union membership and its impact on the organization's flexibility and survival strategy.
The necessity for flexibility in staffing levels and work schedules to meet the demands of a 24/7 global economy.
Transcripts
[Music]
let's take a look at some hr trends
there are some major trends affecting
human resource management
the first is understanding the modern
labor force including trends that are
determining who will participate in the
workforce in the future
the next is an exploration of the ways
hr can support a number of trends in
organizational strategy
from efforts to maintain high
performance work systems to an increased
emphasis on teamwork and empowerment
often growth includes the use of human
resources on a global scale as more and
more organizations hire immigrants or
open operations overseas
there are also major changes in
technology especially the role of the
internet which is changing organizations
themselves as well as providing new ways
to carry out hr management
finally the nature of employment
relationships are changing careers and
jobs are becoming more flexible
the term labor force is a general way to
refer to all people willing and able to
work for an organization the internal
labor force consists of the
organization's workers its employees and
the people who have contracts to work in
the organization
this internal labor force has been drawn
from the organization's external labor
market that is individuals who are
actively seeking employment
human resources professionals need to be
aware of trends in the composition of
the external labor market because these
trends affect the organization's options
for creating a well-skilled motivated
internal labor force
in the united states the bureau of labor
statistics or the bls is an agency of
the department of labor which tracks
changes in the composition of u.s labor
force and forecasts employment trends
the bls has projected that from 2016 to
2026
the total u.s civilian labor force will
grow from 156 million to 168 million
workers
the 2026 workforce is expected to be 76
white 13 african american and 11 asian
and other minorities the fastest growing
of these categories are asian and other
groups because of their rates of
immigration to the united states
along with greater racial and ethnic
diversity there's also greater gender
diversity more women today than in the
past are in the paid labor force between
2016 and 2026 women's share of the labor
force is expected to remain around 47
percent
employers will have to ensure that
employees and hr systems are free of
bias and value the perspective and
experience of women and minorities can
contribute to organizational goals such
as product quality and customer service
today's employees must be able to handle
a variety of responsibilities interact
with customers and think creatively
hr plays an important role in helping
organizations becoming high-performing
work systems
as the nature of the workforce and
technology available to organizations
has changed so of the requirements for
creating a high performance work system
customers are demanding high quality and
customized products employees are
seeking flexible work arrangements and
employers are looking for ways to tap
people's creativity and interpersonal
skill
such demands require that organizations
make full use of their people's
knowledge and skills and skilled human
resource management can help the
organization do this
research shows that if employees have a
favorable view of hr practices career
opportunities training pay and feedback
and performance they're more likely to
provide good service to customers
to meet human capital needs
organizations increasingly are trying to
attract develop and retain knowledge
workers
knowledge workers are employees whose
main contribution to the organization is
specialized knowledge like knowledge of
customers a process or a profession
to completely benefit from employees
knowledge organizations need a
management style that focuses on
developing and empowering employees
employees at all levels must be
encouraged to share their ideas
jobs must be designed to give employees
the necessary latitude for making a
variety of decisions and employees must
be properly trained rewarded and managed
to be engaged in their work
one of the most popular ways to increase
employee responsibility and control is
to assign work to teams
teamwork can motivate employees by
making work more interesting and
significant
managers today are beginning to see a
more central role for human resource
management
they're looking at hrm as a means to
support a company strategy its plans for
meeting broad goals such as
profitability quality and market share
this strategic role for hrm has evolved
gradually
this means they use their knowledge of
the business and human resources to help
the organization develop strategies and
to align hrm policy and practices with
those strategies
strategic issues include emphasis on
quality and decisions about growth and
efficiency
human resource management supports cost
control both by helping the organization
use human resources more effectively and
efficiently and by making hrm processes
as efficient as possible themselves
rapidly changing customer needs and
technology have caused many
organizations to rethink the way they
get work done
many organizations have undertaken
re-engineering a complete review of the
organization's critical work process to
make them more efficient and able to
deliver a higher quality
companies are finding that to survive
they must compete in international
markets as well as fend off foreign
competitors attempts to gain ground in
the united states
this global expansion can pose some
challenges for human resource management
as hr employees learn about cultural
differences that shape the conduct of
employees in other parts of the world
besides hiring an international
workforce organizations must be prepared
to send employees to other countries
this requires hr expertise in selecting
employees for international assignment
and preparing them for those assignments
advances in computer technology have had
major impact on the use of information
for managing hr
decision makers can easily obtain large
quantities of data and manipulate it
with spreadsheets and statistical
software
many organizations have an hris or human
resource management system which is a
computer system used to acquire store
manipulate analyze retrieve and
distribute information related to an
organization's human resources
an hris can support strategic decision
making help the organization avoid
lawsuits provide data for evaluating
programs or policies and support
day-to-day operation
the key advantage of investing in hris
is that it helps hr professionals think
strategically as organizations plan
implement and change strategies decision
makers must be prepared to have the
right talent in place at all levels
organizations must ensure that it has
sufficient security measures in place to
protect employees private data housed in
an hris
applied to human resource management the
use of computers to analyze large
amounts of data and offer information to
guide decisions is often called people
analytics
today hr employees play a small role in
maintaining records and employees now
get information through self-service
today employees routinely look up
workplace policies and information about
their benefits online
a growing number of companies are
combining employee self-service with
management self-service such as the
ability to go online to authorize pay
increases approve expenses and transfer
employees to new positions
organizations may create an hr dashboard
or display how the company is performing
on specific hr metrics
technology and other changes are most
likely to succeed in flexible forward
thinking organizations
employees who thrive in such
organizations need to be flexible and
open to change in this environment
employers and employees have begun to
reshape the employment relationship
we can think of that relationship in
terms of the psychological contract a
description of what an employee expects
to and what the employer will provide to
the employee in exchange
in the traditional version of this
psychological contract organizations
expected their employees to contribute
time effort skills abilities and loyalty
in return the organization provided job
security and opportunities for promotion
today companies expect employees to take
more responsibility for their own career
in exchange for top performance
employees want companies to provide
flexible schedules and comfortable
working conditions
the percentage of employees who belong
to unions has been declining since the
1980s outside of government agencies
fewer u.s workers today are union
members
from the organization's perspective the
key to survival in a fast-changing
environment is flexibility flexibility
in human resource management includes
flexible staffing levels and flexible
work schedules
the globalization of the world economy
and the development of e-commerce have
made the notion of a 40-hour work week
obsolete as a result companies need to
be staffed 24 hours a day 7 days a week
employers are using flexible schedules
to recruit and retain employees and to
increase satisfaction and productivity
[Music]
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