HR objectives & influence

• What is the impact of employees on businesses?

  Employees impact the outcome of all businesses
• How do HR decisions affect functional areas?

  HR decisions directly impact functional area operations
• What factors influence HR management of the workforce?

  Market conditions, ethics, and technology
• What are the key indicators of market conditions?

  • Economic Growth (GDP)
  • Market Demand
• What does economic growth measure?

  Value of output in the economy
• What does market demand measure?

  Consumer desire and ability to pay
• How does market demand affect businesses?

  It turns into revenues for the business
• How do market conditions influence HR decisions?

  • Adjusting workforce size
  • Modifying recruitment strategies
  • Aligning training with market needs
• What are the influences of ethical and environmental factors on HR decisions?

  • Promoting sustainable practices
  • Ensuring fair labor practices
  • Enhancing corporate social responsibility
• How does technology influence HR decisions?

  • Need for skilled labor due to tech advances
  • Adoption of HR technology tools
  • Impact on employee training and development
• What is considered the most important asset of a business?

  Staff or employees
• Why is motivating employees important for a business?

  Motivated employees enhance business effectiveness
• How do HR decisions affect other business functions?

  • Influence on marketing strategies
  • Impact on financial planning
  • Affect operational efficiency
• How can HR decisions impact marketing strategies?

  By aligning workforce capabilities with marketing goals
• How can HR decisions affect financial planning?

  By determining staffing costs and budgets
• How do HR decisions influence operational efficiency?

  By optimizing workforce productivity and skills