CIPD

Changing world of work

- Old v new

- A relatively static economy v a fast – changing economy

- Relatively static business strategies v continually evolving business strategies

- Durable products v Short product-life cycles

- Stable customer needs v changing customer needs

- Well-defined markets v a global marketplace

- Clearly identified competitors v tons of potential

Resourcing and Talent

The degree of unpredictability which has become part and parcel of the world of work has the following implications for people resourcing:

- Need to find people to work in organisations that are regularly contracting and expanding

- The need to manage people during frequent periods of structural change and reorganisation, including mergers and acquisitions

- The capacity to cope with situations of rapid growth in numbers and rapid decline

- The need to recruit and motivate people to work effectively in organisations or parts of organisations that are transient

- Increased competition – goods and employees

- UK skills gap

- Technology

Think globally, act locally

Technology and e-commerce

- Motivated management teams

- Freedom to invest

- Free access to worldwide capital markets

- No interference in decision-making by politicians and civil servants

- Able to buy top managers

Privatised businesses reduced labour forces by huge amounts and adopted flexible firm principles while keeping prices very high.

Achieving and sustaining service excellence is a major management objective in all organisations. 

Torrington, Hall and Taylor (2002)

- Age composition of the workforce (less young)

- Sex composition (men v women)

- Skills shortages

Taylor (2010)

- Average age of the working population will increase over time, fewer opportunities to employ young people

- Policies will need to be adjusted to appeal to older workforce where young used to be attracted, likely flexible working

- HR planning will become more significant to compete

- Harder for the state to provide pensions for ageing population