EXTERNAL FACTORS THAT AFFECT HR PLANNING

Question 1

Demographic Changes

Answer 1

Fertility rates, ageing population, education, urbanization etc
These affect the size of the labor pool.

Question 2

Immigration

Answer 2

Being able to hire people from all around the world increases the size of the labor pool and also the skills workers have to offer.

Question 3

State of the Economy

Answer 3

If there is an Economic Boom there will be more jobs available with higher wages. The opposite will happen if there’s Economic Restraint.

Question 4

Technological Improvements

Answer 4

Improved tech and infrastucture will lead to more teleworkeing and better connections.

Question 5

Government Regulations

Answer 5

Changes in laws and regulations: minimim wages, minimum working hours, retirement age, pension provisions etc

Question 6

Gig Economy

Answer 6

An economy where many positions are temporary and organizations hire independent workers for short term commitments.

Question 7

Labor Mobility

Answer 7

Geographical: Ability for people to realocate
Occupational: Ability for people to switch jobs.
If these two increase the size of the labor pool does too.

Question 8

Social Trends

Answer 8

The role of women in society, rise in number of single parent families