External Factors Shaping Human Resource

Hence, this paper aims at discussing issues regarding external factors which help shape the human resource agenda in an organization. Economic Factors The first element which affects the human resource agenda within my particular organization is the aspect of economic factors. The existing state and shape of the economy are one of the biggest aspects which affect human resource agendas within any particular organization. Firstly, economic conditions affect agendas within this particular department as they influence the existent talent pool within a company (Foster). Furthermore, they also affect human resource agendas as they work towards influencing an organization’s ability to employ a new labor force entirely. However, contrary to this assumption, competition is crucial for any company within all industries as helps with shaping the human resource agenda.

When seeking to recruit new employees, organizations which have the most enticing as well as interesting terms and conditions of work have the highest probability of securing the services of new people. due to increased competition when acquiring a new labor force, organizations have to ensure the adjust other factors necessary for attracting as well as retaining such employees in the long run such as compensation policies (Noe). Hence, competition as an economic factor helps to shape the human resource agenda within my organization as it provides other alternatives of acquiring the desired labor force such as through training the existent employees in the face of heated competition for a new labor force from other firms. Globalization Globalization is increasingly becoming a crucial aspect in the world of business.

According to this particular set of laws and regulations imposed by the government, organizations are strictly prohibited from discriminating their employees based on their race, gender, sexual orientation, religion or even their nationality (Stone et al. For instance, an organization cannot refuse to employ any particular individual if their credentials match the job description, relieve a person from the organizational duties or impose retaliatory action on employees. Hence, this particular set of laws and regulations helps to shape the human resource agenda within my organization as it as it makes it possible to identify what should not be done when dealing with staff members. Wage and Hour Laws The second set of legal factors which organizations have to deal with are the wage and hour laws.

These regulations are crucial as they determine the least wage which firms are required to pay their employees. On a global scale, technology is one of the fastest developing aspects. Almost on a daily basis, new technological discoveries meant for making day to day life easier are unearthed or created in different parts of the universe. However, such advancements can shape the human resource agenda of a firm in both positive as well as negative ways as this paper will depict. Firstly, the introduction of any new technologies in a company would force employees in the organization to acquaint themselves with the necessary skills required for handling and dealing with the newly introduced technology. Such a level of know-how concerning the new technology can be acquired either through training or modification of the existent knowledge.

Regardless of such an element being considered and described as advantageous to the firm with regards to saving time, it affects other incentives which can only be carried out by individuals as a team hence affecting the overall work coordination in the organization (Foster). Therefore, the technological aspect affects the human resource agenda as the organization might be compelled to organize forums and sessions aimed and promoting collaboration and coordination among the labor force in the company. Conclusion In conclusion, it would be appropriate to claim that external factors in the world of business help to shape the human resource agenda in my organization in various ways as it has been exhibited in this paper. One such external factor which is crucial in shaping the human resource agenda is the economic element.