In conducting the environmental analysis, it is important to have a solid
understanding of these various elements of technology, market trends, and
economic trends. Conducting an organizational self-assessment will be helpful
to identifying the gap that must be filled in order to be successful to be
analyzed (Mello,
2006).
What types of indicators would you choose to analyze in each of these areas
that could provide valuable information to setting an HR Strategy? For
instance, if you were a Used Car dealership you may find that you are going to
get some extra business over the next few months. The reason being is that
demand for used cars has gone up due to people not having the cash flow to
purchase new. In this case, you may have to hire additional employees as sales
folks. If you did your own financing, you may have to find an additional loan
writer to help as well. From this point, you may want some additional economic
data to determine how long you would need these folks. This could help you know
if there is a chance that a layoff may come at some point which could lead to
unemployment claims.
Feel free to chime in on this with some specific examples as well.
Reference
Mello, J. A. (2006). Strategic human resource management (2nd
ed.). Mason, OH: South-Western Cengage Learning.
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