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Homework answers / question archive / 1)Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environment
1)Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environment.
2)What competencies (knowledge, skills and abilities) are needed in 2016 that were not needed ten years ago for HR professionals?
3)Given the items you mentioned in question one and two and then considering the organization you are studying in this course, what are you thinking about suggesting in your consolidated paper and project plan for changing the current total rewards? That is, what recommendations in total rewards (monetary, non-monetary or the work place experience which could include the values of the organization, training, development and promotions among many other things) are you thinking about?
Changes in demographics have an influence on the labor environment; for instance, an increase in population may lead to an increase in unemployment. An economic downturn may also lead to layoffs due to the lack of finances to pay large sums of salaries.
Over the past decade, the HR profession has changed tremendously, now professionals in this sector are required to be conversant with software such as enterprise resource management and be social media savvy since companies are now more social than before.
To incorporate these skills within the employees, organizations should train them on how to use the ERP software and thus ensuring efficiency in their operations. Social media can be exploited by the company to drive more traffic to the company's website and therefore growing their sales and customer base.
