NATIONAL UNIVERSITY OF IRELAND, DUBLIN
Student Name: Pham Tuan Phuong Nam
Student Number: CT0109634
Module: Human Resource Management
The term labour force is a general way to refer to all the people willing and able to work. For an organization, the internal labour force consists of the organization’s workers - its employees and the people who have contracts to work at the organization. This internal labour force has been drawn from the organization’s external labour market, that is, individuals who are actively seeking employment. The three major trends today in the change in labour force are: 1. an aging workforce, 2. a diverse workforce and 3. Skills deficiencies of the workforce.
Choose only one of the three major trends in the change of labour as shown above and write a report on how the chosen trend affects human resource management practices in organisations today.
TABLE OF CONTENT:
* Definition of Human Resource Management
* Definition of Aging workforce
* Two advantages and two disadvantages
* Strategies to overcome the disadvantages of the aging workforce
* Two advantages of the aging workforce:
* High responsibility, commitment and consistency.
* Two disadvantages of the aging workforce:
* Lack of flexibility
* The problem of diminishing health
* Strategies to overcome the disadvantages of the aging workforce: * Training, promotion, competition
* Improve OHS
* Sum up all the mentioned information
Human Resource Management (HRM) means the policies, practices, and systems the influence employees’ behavior, attitudes and performance. Nowadays, the labour force has been changed which directly affects to the HRM of the organization. One of the trends has become the worldwide phenomenon and has a significant importance on the HRM is the aging workforce. The aging workforce is defined as working individuals who are 45 years of age or older. According to preliminary results from Ministry of Manpower’s comprehensive mid-year Labour Force Survey, the employment rate for elder residents aged 55 to 64 in Singapore is 57.2%. This trend has brought a number of advantages and disadvantages to the HRM of the organizations. Additionally, some strategies will be considered so as to solve these disadvantages.
As far as the advantages are concerned, perhaps the most noticeable benefit is that the mature-aged employers have a lot of experiences due to having been working for a long time. Therefore, they may choose the best solution for the task hence reducing the risks as well as the time completing it. Moreover, they may pass on their experiences to the new employers in order to retain these valuable experiences and enhance the quality of the workforce in general. This also helps saving the training costs and improving the performance which support the HRM. In addition, with full of the knowledge of customers, they are likely to sustain the loyal communication between customers and the organization. This is crucial to the organizations as they may help maintaining the profits. In my opinion, another benefit of the aging workforce is that the high responsibility, the commitment and the consistency. In other words, the assigned job may be well handled...