Question

What are some of the key environmental variables that you see changing in the business world today? what impact will those changes have on the hrm function in organizations?

Answer 1

Some of the key environmental variables are market fluctuations, changes in government policy, inflation, and technology and economical factors. The impact of these changes on the HRM function may either be positive or negative depending on the type of changes.

The HRM function cannot perform its duty in a vacuum. There are a number of environmental factors that affect HRM. The factors that are of primary importance that affect working are economic conditions, labor markets, laws and regulations, and labor unions. Other factors may be the political changes and the environmental changes that take place.

The environmental variables can be broadly divided into technological, cultural, political, social, and legal factors. While these external factors' influences are often outside the HRM's control the HRM is required to address their effect on the organization and its goals. Some of the other factors can be ethical and global factors.

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