HRMN395 UMUC Economic Trends Effect on US Labor Environment Discussion

Our readings focus this week is on the many influences on organizations that can impact their success and therefore can also impact the total rewards they offer their employees. Complex, uncertain and a fast-changing environment has brought new HR challenges, which ask HR professionals to implement additional competencies. Be sure to read the reading assignments for the week before attempting to answer the questions. We do not have a new course module or commentary this week, but you may want to take a look back at module five which discusses some of the global changes that have occurred which influence the Human Resources function and organizations at large.

1. Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environment, organizations in general, and total reward offerings.

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2.

Since we are nearing the assignment in which you will make changes to

the total rewards program of the organization you have reported about in

assignments one and two, please share three changes you are

considering. The changes to the total rewards program could be because

of the many influences on organizations today such as changing

demographics, societal trends, or globalization. The changes may also be

because you do not feel the organization is competitive with other

organizations now that you have learned the wide array of rewards some

organizations offer. Be specific in your description of the changes you

are considering and tell us a little about why you have selected the

reward changes you have. Recall that the changes may be in monetary

rewards, non-monetary ones, or the work environment.

This weeks Readings:

1. Lee, E. & Yu, K. S. (2013). How are global HR competency models evolving for the future? Retrieved from Cornell University, ILR School site: http://digitalcommons.ilr.cornell.edu/student/17

2. Global Total Rewards: Establishing a Framework

http://www.benefitsandcompensationresources.com/global-total-rewards-establishing-a-framework

3.Seven demographic trends shaping the U.S. and the world in 2018

https://pewrsr.ch/2qZtkKu

4. Demographic and economic trends in urban, suburban and rural communities

http://www.pewsocialtrends.org/2018/05/22/demographic-and-economic-trends-in-urban-suburban-and-rural-communities/

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