HRM’S CHALLENGES

Question 1

· Hiring cost
· Training cost
· Promotion and benefits cost
· Turnover cost

Answer 1

COST CONTAINMENT

Question 2

· Hiring cost
· Training cost
· Promotion and benefits cost
· Turnover cost

Answer 2

COST CONTAINMENT

Question 3

Technology has greatly impacted human resources and will continue to do so as new technology is developed. Through use of technology, many companies have virtual workforces that perform tasks from nearly all corners of the world. When employees are not located just down the hall, management of these human resources creates some unique challenges.

Answer 3

TECHNOLOGY

Question 4

a term used to describe lost productivity because of an employee using a work computer for personal reasons, is another concern created by technology

Answer 4

Cyberloafing,

Question 5

· Tough economic times in a country usually results in tough times for business, too. High unemployment and layoffs are clearly HRM and managerial issues.
· If a human resource manager works for a unionized company, union contracts are the guiding source when having to downsize owing to a tough economy.
Likewise, in a growth economy, the HR manager may experience a different kind of stress. Massive hiring to meet demand might occur if the economy is doing well.

Answer 5

THE ECONOMY

Question 6

· Human resources should be aware that the workforce is constantly changing.
The impact of the baby boomer generation on our country and on human resource management is huge. First, the retirement of baby boomers results in a loss of a major part of the working population, and there are not enough people to fill those jobs that are left vacant. Second, the baby boomers’ knowledge is lost upon their retirement. Much of this knowledge isn’t formalized or written down, but it contributes to the success of business. Third, elderly people are living longer, and this results in higher health-care costs for all currently in the workforce.

Answer 6

THE CHANGING AND DIVERSE WORKFORCE

Question 7

Ethics and monitoring of ethical behavior are also challenges in HRM. Setting ethical standards and monitoring ethical behavior, including developing a code of conduct, is a must for any successful business.

Answer 7

ETHICS