Current issues in business and human resource

Current Issues in Business and Human Resource

Problem Statement 1

In today’s business setup, most employees experience immense challenges when it comes to human resource management. The challenges are on the cost, for example the hiring process cost, training cost, healthcare benefits, etc. that determine the success or failure. It is even a trend nowadays that workers get laid off to keep the company afloat whenever a business is doing poorly economically.

Cost is a significant challenge that should be addressed so that the human resource remains motivated (Friedman, 2020). The costs accrued are sometimes expensive upfront and takes too much for the business to handle. Companies should devise ways to monitor their costs to ensure their businesses are healthy moneywise and when it comes to employee relations.

It becomes costly for a business to have to constantly recruit employees because they were handled improperly by a supervisor. Education, plays a significant role in human labor. The level of education determines the average pay a worker receives weekly. How can businesses cut the cost and overcome the challenges while still keeping human resources at bay?

Problem Statement 2

Another issue that presents a considerable challenge to human resources in the business sector is the adoption of technology. The new technology is highly advanced and can perform the cumbersome tasks that previously were done by workers. Most companies embrace virtual workforce due to their accuracy in preference to human labor.

On the other hand, technology is posing a considerable challenge regarding the communication and productivity within a business setup since many organizations that highly embrace technology, do not have physical locations and have their employees working remotely to cut the costs (Libraries, 2021).

Hard economic times negatively affect human resources in organizations as many

businesses lay off employees. Secondly, there is mass unemployment resulting from the harsh

economic times, the coronavirus and technology utilization (Cassidy, 2021).

The diverse and constantly changing workforce presents the human resource sector of the business with an immense challenge in relation to appropriate technology application.

References

Cassidy, J. (2021, January 30). The Three Biggest Lessons of the Coronavirus Economy. The

New Yorker. https://www.newyorker.com/news/our-columnists/the-three-biggest-lessons-

of-the-coronavirus-economy.

Friedman, E. (2020, April 6). Council Post: Top Five Issues Facing Human Resources In 2020.

Forbes. https://www.forbes.com/sites/forbeshumanresourcescouncil/2020/04/06/top-five-

issues-facing-human-resources-in-2020/?sh=81a6c0648d55.

Libraries. (2021) Human Resource Management:1.3 Today’s HRM Challenges. https://open.lib.umn.edu/humanresourcemanagement/chapter/1-3-todays-hrm-challenges/

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