Contemporary HRM Issue Research Report (Research Paper Sample)

Contemporary HRM Issue Research Report
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Contemporary HRM Issue Research Report
Table of Contents TOC \o "1-3" \h \z \u Contemporary HRM Issue Research Report PAGEREF _Toc353800218 \h 2Background of the report PAGEREF _Toc353800219 \h 31.0 Introduction PAGEREF _Toc353800220 \h 32.0The aging work and its impacts on the organization PAGEREF _Toc353800221 \h 42.1 Challenges of retaining aging workforce PAGEREF _Toc353800222 \h 52.1.1Stereotyping and discrimination PAGEREF _Toc353800223 \h 52.1.2 Performance PAGEREF _Toc353800224 \h 62.1.3 Economic Analysis or value PAGEREF _Toc353800225 \h 72.1.4 Training and development PAGEREF _Toc353800226 \h 82.2.5 Skill Deficit or Shortages PAGEREF _Toc353800227 \h 82.2 Recommendation on utilizing aging workforce PAGEREF _Toc353800228 \h 92.2.1Mentoring PAGEREF _Toc353800229 \h 92.2.2Flexible Work Policies PAGEREF _Toc353800230 \h 93.0 Job security and employee turnover PAGEREF _Toc353800231 \h 103.1 Job security PAGEREF _Toc353800232 \h 103.2 Employees’ turnover PAGEREF _Toc353800233 \h 113.3 Job security and increases in employee turnover PAGEREF _Toc353800234 \h 114.0 Recommendations on job security and increase on employee’s turnover PAGEREF _Toc353800235 \h 125.0 Conclusion PAGEREF _Toc353800236 \h 136.0 References PAGEREF _Toc353800237 \h 14
Background of the report
In 21st century, internalization and globalization now influences businesses economical, politically and in social environment. To make it in global markets, organizations can no longer depend wholly on core capability and HRM that led them to success in the past. In the 21 century organizations must look for new approaches that will promote environmental receptiveness. Especially, they have to pursue globalization by building a dynamic workforce. In addition, to be victorious in a world of unions, HRM will have to obtain new skills. The complexity of the challenge under debate is evident since several organizations are involved in global business operations at an international scale. The dynamic workforce is sowing to be of growing significance to organization of all sizes, to their clients, and to national markets globally, most organizations are now trading to, utilizing materials or tools from, or competing with brands from other countries (McGregor & Gray, 2001). This report looking at how various Contemporary HRM issues such as aging workforce and decrease in job security or increase in employee turnover can have impacts on the organization. The report will evaluate different theories related to these issues to explore its outcome. It also examines and explains the causes of employee turnover on the basis the contribution of personal variable.
1.0 Introduction
According to Taylor & Walker, (1998 p.65), over the recent years, an extensive number of researches have tried to tackle the issues of dynamic HR in business activities and the effects of the dynamic workforce in organizations. Growth of dynamic HR in global scale has turned out to be of great importance in increasing of human relationships and making the welfare of workforce in order to give the maximum input to resourceful working. In the predictable future aging workforce is going to have huge impact for everyone in organization and it is also expected to be critical of all demographic variations. Therefore it is significant to evaluate on that issue from the Human Resource Management approach. On the other hand employees’ turn over can hurt the entire efficiency of an organization and is frequently a sign of difficult times ahead. This may be as a result of reduced job security as well as lack of motivation, little remuneration and lack of employees’ personal growth among others.
2.0The aging work and its impacts on the organization
One of the toughest challenges that organizations encounter today is loss of organization’s long term skills due to retirement, slow production as well as shortage of promising workforce to fill the vacant positions. According to researches an aging population is a growth in the standard population age. There is rising percentage of group of individuals who have surpassed the age of 65 and declining percentage of individuals under 16 years. These trends not only have its way in UK but several countries across the world. The researches points out that by the end of 2103 the number of people who have attained the age of65 years will go beyond i6 years (Turner & Williams, 2006). The trend may best be regarded as the ‘demographic time bomb’. These trends have various consequences both for public and private businesses on the basis of the entire need for goods and services. These comprise of public institutions such as social services, healthcare, education and state pensions institutions. From1980s, the number of American workforce beyond the age of 40 years has gone up considerably.
By 2010, over 51% of its workforce was predicted to attain the age of 40 years, while in the next 12 years, 78 million aging group is expected to retire, with 45 million younger workforce expected to replace them. Whereas this can be a slow event, it is likely to have big impact on the organizations. Companies must be prepared for the decrease for the younger substitutions and the growing number of employees attaining the age of forty years. If all these challenges are not addressed amicable they can take a told order on the organizations and have effects on the efficiency and economic growth as well. However the question the many may as is; what are the impacts of retaining aging workforce?
2.1 Challenges of retaining aging workforce
When an organization decides to retain its aging workforce, it has to rethink of retaining, knowledge, skills and experience. Similarly it has to meet multi-generational demands associated with performance, training and flexibility. By retaining the aging workforce the organization will be seeking developing ways to for aging group to pass skills and knowledge to the younger workforce. Some make an intensive endeavor to incorporate older generation to the younger generation of workers. An example is financial firms that have established that prospective clientele frequently feel more at ease discuss about finances with the older group, therefore companies make efforts to hire and retain these older people with wealth of experience. However, aging workforce faces a lot of challenges from younger generations in these organizations. These challenges includes, changing technology, stereotyping and discrimination, performance, economic value, health and well-being, skill shortages and Training and Development.
2.1.1Stereotyping and discrimination
Stereotyping is not often neutral and is rarely highly evaluated however, there is a considerable study on stereotypical thoughts concerning aging workforce in most western organizations (Taylor & Walker, 1998 p. 64). The degree in which stereotypes are upheld regarding older employees are significant to look into since they impacts on the employment correlated decisions and leads to discrimination at the workplace. According Duncan, et al (2000, p. 31) the study suggests that social construction of the aging is more hurting to these people than their biological aging process. Stereotyping and discrimination can bear positive and negative implications; on the basis of age discrimination at the workplace, the impacts may hamper the performance of the older employee. Though age may assist aging workforce get recognition on the basis of knowledge, skills and experience created over the years, with research indicating aging employees prefer their access to particular categories of jobs, especially supervisory or managerial responsibilities (Salthouse & Maurer, 1996, p. 356).using the context from New Zealand, McGregor and Gray (2002) believe positive stereotypes comprising of improved levels of consistency, job commitment and loyalty. Negative stereotyping and discrimination have been established to contribute a negative responsibility in major areas of an organization for instance recruitment, selection, performance evaluations, human resource planning, job design, training and termination.
2.1.2 Performance
Once of the major persistent discussions is the performance normally decreased with age (Loretto et al, 2000). A general negative stereotype in both females and males relates growing age with declining performance and productivity levels in an organization. Nevertheless stereotype is not based on proof. Documented performance deficits based on age however do not exist; apart from in jobs demand high degree of physical endurance and stamina. McGregor and Gray (2002) have found out that there are no disparities in the general sales performance of aging and younger workforce. A decrease in performance could be wrongly credited to aging factor, when in reality it could be as a result of skill burn out or obsolescence incident which could take place at every age and could be overcome by means of training. Duncan, et al (2000, p. 32) provide a scientific argument which asserts that the majority of reviews report less reliable relations between work performance and aging factor. There are varied opinions on the argument are of performance decrease with age. (NZIER, 2002) claims that a literature review concerning older employee efficiency has resulted too much distress by economists. Whilst age may certainly be a poor alternative in terms of performance, lots of of the international researches have diverse logical beginnings. This clearly impacts organization perceptions concerning aging workforce yet the indication at best is questionable (Loretto et al, 2000) showing that the older employees who remain in the labor force, provided that so several people have already gone, ten...