Question

Explain the effects a changing labor market has on selection, training, and promotion for human resources. How should human resources respond?

 

Answer 1

HRM

Explanation:

Changing the labor market leads to widescale policy changes with respect to selecting, recruiting, compensation, etc. This leads to delays in the implementation of new systems, labor union issues, high employee turnover, higher attrition rate, higher cost of hiring and low employee morale.

Human resources must hence adopt flexible approach and culture of changes where employees get tuned to new labor laws and incorporate them successfully.

Also, there should be a well-defined research team which predicts future labor trends in advance to offset negative implications