Future Trends of HR

Considering the many stressors and factors effecting human resources and the workforce today, the future trends of human resources must be assessed. One of the largest dilemmas facing the workforce today is the generational differences between the current workforce and the newly hired. Presently, the baby boomer generation is of retirement age which leaves the workforce lacking of skilled labor and knowledge. Reports have shown an estimated 70 million baby boomers will soon retire from the workforce while only 40 million will enter leaving an extreme deficit in the workforce (“The Present & Future,” 2006). Therefore, stress factors affecting the labor market to compensate for this loss are increased work hours, greater workloads, and less pay increases.
A current problem facing human resources in organizations is an increased turnover rate. Employees are looking for better work conditions and an increase in monetary compensation. Evaluating these conditions, future trends in HR illustrate a need for talented and experienced skilled labor and the workforce exemplifies a lack of qualified applicants. Organizations are looking at a higher cost for recruiting, training, and hiring. HR planning is imperative to future trends of human resources to include, but not limited to globalization, outsourcing, and technology. Globalization is the logistics that foster economic growth across geographical borders. Major US organizations have manufacturing companies in foreign countries as a means of producing goods at a lower cost and greater quantity. Outsourcing is contractual work performed by an outside company for work to be performed within the organization. Technology encompasses consistency of constant change. One of the best examples of technology and its constant change is the internet. Many employers are using the internet as a way to recruit employees. This can be time consuming and costly, but may offer relief when it comes to the interviewing process of qualified applicants.
Outsourced recruiters in organizations can provide time management for HR personnel to deal with other issues in human resources. Outsourced recruiters can increase the speed of hiring and examine more qualified applicants through the use of technology.