Review of Literature and Implications †Free Samples to Students

Question: Discuss about the Review of Literature and Implications. Answer: Introduction With the changes in economic, each and every organization is striving to globalise its business to increase the market share and expanding the business on international level. There are several aspects that had been changed due to globalization. Human resource management is responsible for human resource planning that involves recruitment, selection, training and development of the employees. They are also responsible for succession planning but there are many changes that took place in past decade and now human resource planning has to be done in another way due to employee turnover. To overcome such issues Human resource management should focus on Scenario planning. They have to consider all the external environmental factors while making plans for the planning of human resources in a particular organization. Human Resource Planning refers to identify the requirement of human resources within an organization. Now, due to environmental and demographic changes, it is difficult to rely on the stability of the employees in an organization for a long time period. Scenario planning is prepared on the basis of changing internal and external business factors. It is analysed that if the external factors of the business changes then organization should focus on changing the existing strategic planning on the basis of those factors. HRM policies and department is highly impacted by the external factors of the organization. Earlier human resource planning focuses on the replacement within the organization and succession planning but now scenario has been changed. Globalization means the integration of business operations, ideas, strategies and process into a diverse culture, services and products. It creates a big impact on the management of the employees. (Dowling, Festing Engle, 2017) Rewards and Recognition- Human resource planning involves the motivational activities for employees and one of them is rewards and recognition. There are many employees who work outstanding and they deserve some rewards and recognition for their performance. Such activity helps to create motivation among employees and they focus on more hard work. More Emphasis on trainings- Training is an important aspect if there is a diverse workforce in the organization. Human resource management needs to focus on the needs and professional qualification of the employees in the organization. For example for call centre jobs, companies need to conduct language classes. It is important to make the employees learn about the global software that has been used by the companies. It creates a competition between the companies as it is not an easy task to manage the global workforce. (Nel, 2012) Management of Laws- It become really difficult to understand the implications of different jurisdiction and laws. Human resource management needs to understand the impact of particular law in respect to the business organization by doing proper human resource planning. There are some regional laws that need to be followed. Human resource management need to focus on the training of the employees related to the labour laws and other laws too. This management of laws focuses on the training of the employees and motivating employees to increase the overall outcomes of the business. It shows that proper training program is required to increase the overall employability of the employees. These factors provide that human resources should not stick at a single job for a long time period as they get so many opportunities of learning and development. This results in high employee turnover. To cope up with this issue, human resource management should focus on the scenario planning. Scenario planning refers to make assumptions regarding future and the changes in future business environment. There are many uncertainties that need to be handled by human resource management. (Smith Lindsay, 2014) In Australia, employee turnover is increasing in a very fast pace and in order to control it, scenario planning needs to be done. There are some very strict laws of Australian government due to which people do not sustain in a single job for a long time. There is a very high employee turnover in Australian market and it is a very critical issue. They are taking some necessary steps to resolve this issue like they have started workplace training sessions for the employees to improve their mental health. (Creighton Stewart, 2010) There is a program called Beyondblues national workplace program, in which five types of specialised training has been provided. Some training are for executives and some are for the managers and HR professionals. There is a process for plan a scenario- (Lindgren, 2014) Identification of the driving forces- The first and foremost thing to maintain global workforce and reduce employee turnover is to identify the main driving forces that creates an impact on the manpower movement. It refers to the Human resource practices that can be undertaken to retain the employees in Australian organizations. (Glenn, 2012) Some employees just need a good atmosphere to work so organizations may create a positive working environment for them. It is necessary to know the driving forces so that it can be given more weightage (Zula, Chermack, 2007). There are other several driving forces such as use of advance technologies, competitive business environment and changes in clients needs and demand. These factors should be considered by organization while preparing the scenario planning. Identification of critical uncertainties- It refers to the uncertain situation when retention of manpower become so important and organizations cannot afford to lose any of the employees. This situation occurs when there is a big dependency on the resources. (Walters, 2010) Identification of those critical situations is really important because organizations need to get prepare with the strategies to overcome such situations. Human resource planning helps to face such situations. Analysis the possible issues and planning procedure in HRM practices- All the Australian companies are facing issues of high employee turnover which not only affect their productivity but also increase the overall product cost of the business. It is analysed that due to non-effective training program, employees hired, ideally face issue of non-effective work program. It eventually jeopardise the cost leadership and product differentiation strategic program of the organization. Therefore, HRM program and policies should be prepared in such a way which will increase the overall turnover and efficient business outcomes of the organization (Gakhar, Kour, 2012). Development of range of plausible situations- It includes preparation of a matrix that helps an organization to know about the uncertain situations and the outcome of those situations on a particular time period. In Australian companies, there is a lot of dependency over the manpower and employee turnover results in big losses for the companies. So, by creating some plausible situations, losses can be minimized. This performance matrix focuses on the segregating the employees as per their proficiency and increasing employability in the different segments. After that training and development program is implemented as per their capabilities and characteristic of their work. Discussion on implications- In this step, all the implication according to different scenarios are determined so that strategies can be reconsider and the best possible solution can be developed. This method can help Australian businesses to take the necessary step whenever they face any issue as they already have pre planned strategies in accordance to various situations (Wade, 2012). This implication focuses on the re-engineering of the strategies implemented by the organization and prepares the effective strategic planning. The changes in strategies planning and use of innovative strategic plans will assist organizations in Australia to prepare itself for the scenario planning. It is observed that HRM planning and procedure is the part of the strategic planning which focuses on preparing organization to sustain in long run and consistently increase the overall outcome of the business. These above give different scenario reflects that HRM policies and matrix prepare by the organization should be adapted with the changing internal and external factors of the organization. The main function of HRM in this globalised world focuses on the hiring the experts employees to increase the overall efficiency. Due to the globalised world, many organizations have faced HRM issues in their business while expanding their business in other countries. Therefore, if proper HRM program and policies are used in business then it will not only decrease the employee turnover but also prepare organization to hire more experts more employees in the process system (Som, 2007). This scenario planning assist organization to prepare supporting plans and procedure in such a way which wil l eventually result to designing HRM practice and program to encounter all the internal and external factors of the business through by changed scenario planning (Kozlowski, 2017). Recommendation Organization in Australia should prepare proactive HRM practice and program to encounter the business issues problems related to employee management program. Forecasting and feasible chart program should be prepared to identify all the possible changes in internal and external factors of the business (Martell, Carroll, 2015). Scenario planning should be accompanied by the long term planning process and evaluating the collected data to estimate the future results and changing factors of the organization. With the changes in economic factors of Australia, such as GDP, national income, purchasing power of clients and employment rate, organization should use these statistical data to plan its HRM policies and program. These factors play important role in estimating the future results and outcomes which may possible affect the process system of organization (Pucik, 2018). These recommended strategies should be used by the organization in Australia to prepare an effective strategic planning and increasing the overall outcomes of the business. Conclusion Due to globalization, the demand and supply of workforce is affected because many opportunities are open for the employees on global level. Human resource planning is necessary to manage the workforce in an efficient way. Therefore, it is analysed that no employees should stick on to a single job for long time duration and this is the reason of high employee turnover in Australian companies. It is quite difficult to resolve this issue as there is a lot of competition in the market and organizations are providing good perks to the employees. The only way to cope up with this issue is to create the future strategies in advance so that such situations can become easy. Scenario planning helps the organizations to create scenarios and look into the future impact of the scenarios. Now in the end, it could be inferred that if proper scenario planning in context with the changing external factors have been taken into consideration by the organization then it increase level of business output and also mitigate the possible issues. References Creighton, W., Stewart, A. (2010).Labour law. Annandale, NSW: Federation Press. Dowling, P., Festing, M., Engle, A. (2017).International human resource management. Andover, Hampshire: CENGAGE Learning. Gakhar, K., Kour, H. (2012). Issues and innovations of HRM in MSMES-a study of the developing states of India.Global J. of Arts Mgmt,2(1). Glenn, J. (2012).Globalisation. Hoboken: Taylor and Francis. Kozlowski, S. W. (2017). Technological innovation and strategic HRM: Facing the challenge of change.People and Strategy,10(2), 69. Lindgren, M. (2014).Scenario planning. [Place of publication not identified]: Palgrave Macmillan. Martell, K. D., Carroll, S. J. (2015). 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