Business Studies Strategies used to address the influence of technological change
Introduction
In today's dynamic business environment, companies are faced with many internal and external influences that affect the functions of Human Resource Management (HRM). Technology is rapidly becoming more and more "necessary" in todays business world which is why it is crucial for HRM to adapt and apply appropriate strategies that will ultimately affect the business as a whole. Training and Development along with recruitment are two strategies that could be implemented to face the growing influence of rapid technological change.
Technological change is the leading source of improvements in productivity, communication and competition between businesses. Many Businesses are becoming less competitive in the market and are experiencing a reduction in recognition and loyalty due to the result of continuous advancements along with changes in technology. Employees' lack of knowledge and expertise translates into the business and how it is being functioned which results in a lack of productivity which in turn affects the profits of the business.
Training and Development
The HRM strategy of training and development is crucial for businesses that face technological change. It is important for HRM to constantly train and develop their staff with the use of leading edge technology in order to stay competitive in the market along with increasing productivity. HRM should implement both formal and informal training and development programs which will not only improve the employee's technological capabilities but enhance their overall proficiency in the business, improve retention, as well as assisting in building their personal expertise and develop motivation in the workplace.
The article "Workplace skills for a technology-aged focused future" expresses the importance of a skilled workforce and states that we now live a technology based world. The article goes on to explain how there has been a fast shift in technology and how it has changed the nature
In today's dynamic business environment, companies are faced with many internal and external influences that affect the functions of Human Resource Management (HRM). Technology is rapidly becoming more and more "necessary" in todays business world which is why it is crucial for HRM to adapt and apply appropriate strategies that will ultimately affect the business as a whole. Training and Development along with recruitment are two strategies that could be implemented to face the growing influence of rapid technological change.
Technological change is the leading source of improvements in productivity, communication and competition between businesses. Many Businesses are becoming less competitive in the market and are experiencing a reduction in recognition and loyalty due to the result of continuous advancements along with changes in technology. Employees' lack of knowledge and expertise translates into the business and how it is being functioned which results in a lack of productivity which in turn affects the profits of the business.
Training and Development
The HRM strategy of training and development is crucial for businesses that face technological change. It is important for HRM to constantly train and develop their staff with the use of leading edge technology in order to stay competitive in the market along with increasing productivity. HRM should implement both formal and informal training and development programs which will not only improve the employee's technological capabilities but enhance their overall proficiency in the business, improve retention, as well as assisting in building their personal expertise and develop motivation in the workplace.
The article "Workplace skills for a technology-aged focused future" expresses the importance of a skilled workforce and states that we now live a technology based world. The article goes on to explain how there has been a fast shift in technology and how it has changed the nature