¶ … HR manager changed in the past few years?
The role of the HR manager has experienced gradual change over the past years thus illustration of the shift to human resources from the antiquated personnel department. This has changed the way business entities view human elements. The main factors behind this transformation include quality labor or employment laws, enhanced working conditions, and relevant economic obstacles faced by different business entities in the modern economy (Marler, 2012). The duties of the human resource individual or person have also undergone rapid transformation to meet the demands of the organizations at unique levels. The values of the human resource professionals have risen from the perspectives of the leading companies. In addition to the employment duties, human resource managers now handle activities such as recruitment, training, and development of the employees within the context of the workplace. Human resource managers now have the ability to handle all activities in relation to the human resources (Armstrong, 2008).
What are the differences between labor market and product market?
Products market refers to an area in characterized with the production and transaction of goods between the consumers/buyers and the producers/sellers. Labor market refers to the nominal market characterized with employees, employers, and working conditions or rates. This indicates that product market focuses on the exchange of goods and services between producers and consumers while labor market focuses on the human capital and adequate rates between employees and employers. Determination of the labor market relates to the skills and experience while product market depends on the quality of the goods and services. Labor market operates on the labor laws while product market operates on the product distribution and marketing laws.
In the future, some say, the labor force will shrink. In what ways do you think this will modify HRM?
The shrinking of the labor force mainly relates to the poor, working conditions and low wages forcing employees to vacate their jobs. This will have considerable influence in the roles and duties of the HRM. One of the essential impacts of the shrinking labor force on the HRM is the increase in the adoption and implementation...
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