Every day, news stories describe the difficulties facing HRM. Our daily dialogue is dominated by topics like the economy, offshore, mergers, bankruptcies, layoffs, workplace violence, and unemployment. Make it a point to keep up with current events as they relate to employment as you study HRM. HRM will need to figure out how to handle these challenges when they alter and begin to affect employees. We will look at a few here and more elsewhere, but if you keep up with current affairs, you will discover many more.
Economy
It is difficult to identify a sector or organisation that was untouched by the recent recession. Although unemployment is declining and the economy is still recovering gradually, several regions and industries have lagged behind. The workplace and the abilities necessary for success in the workplace have altered, according to regions that have recovered more swiftly. Managers and workers frequently discover that as company recovers, companies take their time hiring replacements, forcing everyone to accomplish more with fewer resources. For personnel who have been retained or retrained and have been given more responsibility, HR must do further training.
Mergers
There have been more mergers and acquisitions in the banking, telecommunications, and airline industries, and many of us have had to get used to our banks, wireless providers, and preferred airlines changing identities recently. If you or someone you know has been impacted by a merger or acquisition, you have undoubtedly direct knowledge of the uncertainty, change, job loss, and cultural differences that occur virtually always when businesses join. Over a ten-year period, a merger or acquisition will have an impact on about 25% of American employment. Mergers have progressively expanded in recent years on a global scale, posing new difficulties for HR experts.