Business Management HL
Business Management HL
6
Chapters
223
Notes
Unit 1 - Introduction To Business Management - QB
Unit 1 - Introduction To Business Management - QB
Unit 2 - Human Resource Management - QB
Unit 2 - Human Resource Management - QB
Unit 3 - Finance & accounts - QB
Unit 3 - Finance & accounts - QB
Unit 4 - Marketing - QB
Unit 4 - Marketing - QB
Unit 5 - Operations management - QB
Unit 5 - Operations management - QB
Unit 6 - Assessment
Unit 6 - Assessment
IB Resources
Unit 2 - Human Resource Management - QB
Business Management HL
Business Management HL

Unit 2 - Human Resource Management - QB

Key Internal & External Factors Shaping HR Planning

Word Count Emoji
647 words
Reading Time Emoji
4 mins read
Updated at Emoji
Last edited onย 5th Nov 2024

Table of content

Let's break down the external and internal factors influencing HR planning. Remember, HR stands for Human Resources - the team behind hiring, firing, and looking after the wellbeing of employees!

External factors (things outside the business) ๐ŸŒ

  • Technological Change ๐Ÿ–ฅ๏ธ

    • Example: Sam's Café starts using Zoom, letting baristas work from home to take online orders.
    • Better ICT = More teleworking & home-based jobs.
    • New roads & transport links mean you can hire someone living far away.
  • Government Regulations ๐Ÿ“œ

    • Example: New law demands equal pay for both men and women.
    • Can impact health & safety, working hours, and workplace equality.
    • Laws also decide stuff like pensions & retirement age.
  • Demographic Change ๐ŸŒŽ

    • Example: Baby boomers retiring = fewer experienced workers available.
    • Population getting older, changing birth rates, and people moving in/out of the country can affect the available workforce.
  • Social Trends ๐ŸŒ†

    • Example: As "work-life balance" becomes a trend, companies offer yoga classes for employees.
    • Role of women, single-parent families, leisure importance - all can shake up the labour market.
  • Economic Situations ๐Ÿ’ธ

    • Example: Economic boom = more jobs but fewer people. Hello, high salaries!
    • Recessions? More people available = they might accept lower pay.
  • Educational Changes ๐ŸŽ“

    • Example: More people study tech, leading to a boom in tech-savvy job applicants.
    • Changing education levels & courses can impact the type of jobs people are qualified for.
  • Labour Mobility ๐Ÿš

    • Example: Julia, a banker in NY, becomes a farmer in Texas!
    • Changing jobs or locations affects who's available for work.
  • Immigration ๐ŸŒ

    • Example: Surge of software developers from another country = More talent for tech companies!
    • Moving into/out of a country can shake up the labour pool's skills.
  • Work Style Changes โฐ

    • Example: More companies offer "flexi-time", letting employees choose their working hours.
    • Things like remote working & gig-economy jobs change how we work.

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IB Resources
Unit 2 - Human Resource Management - QB
Business Management HL
Business Management HL

Unit 2 - Human Resource Management - QB

Key Internal & External Factors Shaping HR Planning

Word Count Emoji
647 words
Reading Time Emoji
4 mins read
Updated at Emoji
Last edited onย 5th Nov 2024

Table of content

Let's break down the external and internal factors influencing HR planning. Remember, HR stands for Human Resources - the team behind hiring, firing, and looking after the wellbeing of employees!

External factors (things outside the business) ๐ŸŒ

  • Technological Change ๐Ÿ–ฅ๏ธ

    • Example: Sam's Café starts using Zoom, letting baristas work from home to take online orders.
    • Better ICT = More teleworking & home-based jobs.
    • New roads & transport links mean you can hire someone living far away.
  • Government Regulations ๐Ÿ“œ

    • Example: New law demands equal pay for both men and women.
    • Can impact health & safety, working hours, and workplace equality.
    • Laws also decide stuff like pensions & retirement age.
  • Demographic Change ๐ŸŒŽ

    • Example: Baby boomers retiring = fewer experienced workers available.
    • Population getting older, changing birth rates, and people moving in/out of the country can affect the available workforce.
  • Social Trends ๐ŸŒ†

    • Example: As "work-life balance" becomes a trend, companies offer yoga classes for employees.
    • Role of women, single-parent families, leisure importance - all can shake up the labour market.
  • Economic Situations ๐Ÿ’ธ

    • Example: Economic boom = more jobs but fewer people. Hello, high salaries!
    • Recessions? More people available = they might accept lower pay.
  • Educational Changes ๐ŸŽ“

    • Example: More people study tech, leading to a boom in tech-savvy job applicants.
    • Changing education levels & courses can impact the type of jobs people are qualified for.
  • Labour Mobility ๐Ÿš

    • Example: Julia, a banker in NY, becomes a farmer in Texas!
    • Changing jobs or locations affects who's available for work.
  • Immigration ๐ŸŒ

    • Example: Surge of software developers from another country = More talent for tech companies!
    • Moving into/out of a country can shake up the labour pool's skills.
  • Work Style Changes โฐ

    • Example: More companies offer "flexi-time", letting employees choose their working hours.
    • Things like remote working & gig-economy jobs change how we work.

Unlock the Full Content! File Is Locked Emoji

Dive deeper and gain exclusive access to premium files of Business Management HL. Subscribe now and get closer to that 45 ๐ŸŒŸ