Trends in Human Resource Management

Summary

This 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

00:00

🔍 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.

05:00

📈 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.

10:02

🎵 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.

Keywords

💡HR Trends

HR Trends refer to the emerging patterns and practices in human resource management that influence how organizations manage their workforce. In the video, these trends are central to understanding the future of work and include the composition of the labor force, technology's impact, and the evolving nature of employment relationships. For example, the script discusses the importance of understanding the modern labor force and the role of technology in shaping HR practices.

💡Labor Force

The labor force is the total number of people available for work in an economy, including both the employed and the unemployed. The script emphasizes the changing composition of the labor force, such as the growing diversity in terms of race, ethnicity, and gender, and how this affects HR strategies for building a skilled and motivated workforce.

💡Organizational Strategy

Organizational strategy refers to the long-term goals and plans that guide an organization's actions and decisions. The script explores how HR can support various strategic initiatives, such as maintaining high-performance work systems and fostering teamwork and empowerment, which are crucial for achieving organizational objectives like profitability and market share.

💡Globalization

Globalization is the process of increasing interconnectedness and interdependence among countries, which has significant implications for HR management. The script mentions the challenges and opportunities presented by global expansion, such as hiring immigrants and opening operations overseas, and the need for HR to understand cultural differences in a diverse workforce.

💡Technology

Technology plays a pivotal role in modern HR management, from the use of the internet for recruitment to the implementation of HR management systems. The script highlights the impact of technology on organizational structures and the importance of HR professionals being adept in leveraging technological advancements for strategic decision-making and operational efficiency.

💡High-Performance Work Systems

High-Performance Work Systems (HPWS) are practices designed to enhance employee productivity and the overall performance of an organization. The script discusses how HR plays a vital role in creating HPWS by aligning HR practices with business strategies, which includes offering quality products, customized services, and fostering a creative and skilled workforce.

💡Knowledge Workers

Knowledge workers are employees whose primary contribution to an organization is their specialized knowledge or expertise. The script underscores the importance of attracting, developing, and retaining knowledge workers, as their specialized knowledge is critical for organizational innovation and competitiveness.

💡Empowerment

Empowerment in an HR context refers to the process of giving employees the authority and responsibility to make decisions that impact their work. The script mentions that HR can support empowerment by designing jobs that allow employees to exercise discretion and by fostering a management style that encourages employee participation and contribution.

💡HR Information System (HRIS)

An HRIS is a computer system used to manage various HR-related data and processes within an organization. The script explains that an HRIS can support strategic decision-making, help avoid legal issues, and streamline day-to-day operations by providing data analysis and information management capabilities.

💡People Analytics

People analytics is the application of data analysis techniques to understand and improve HR management practices. The script describes how HR professionals use people analytics to maintain records, provide information to employees through self-service portals, and make data-driven decisions that enhance organizational performance.

💡Psychological Contract

The psychological contract is an unwritten set of mutual expectations between an employee and an employer. The script discusses the changing nature of this contract, where employees are expected to take more responsibility for their careers, and employers are expected to provide flexible work arrangements and a supportive work environment.

💡Union Membership

Union membership refers to the participation of employees in labor unions, which aim to protect and advance their interests. The script notes the decline in union membership since the 1980s, indicating a shift in the employment relationship and the need for HR to adapt to new dynamics in worker representation and collective bargaining.

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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