Human Resource Management

The strategic approach to the effective management of an organization's workers so that they help the business gain a competitive advantage.

Main Functions of HR

Assess current employees: skills and number needed Analyze supply and demand for employees Analyze training needs Motivate workers through financial and non-financial means Create a good working environment

Demographic Changes

Changes that affect the current and future populations. Examples include changes in birth and death rates and the average age of the population.

Labor Mobility

The interest and ability to change jobs/careers and to change geographic location.

Flexi-time

Employees working a set number of hours but with no set start or finish time to give more flexibility.

Immigration

The movement of people into and out of a country.

Gig Economy

A labor market that relies on temporary and part-time positions filled by independent contractors rather than full-time permanent employees.