Quiz 2: Trends in Human Resource Management

Business

Nursing shortage means it is a situation in which the demand for nursing professionals such as Registered Nurses exceeds the supply. The various trends described in the chapter that are contributing to the nursing shortage are: 1. The vacant country US nursing positions is estimated to be 8.5 percent and expect the number to be triple by 2020 as 80 million baby boomers will retire. 2. The Registered Nurses joining the country US workforce every year were born into other countries. 3. The conditions of workload of nurses like that they do not have a time to see the patient current condition and to serve them their requirements like that of water is the indicator of staffing problem.

RM was originally involved in the selling the product through the marketing strategy of low cost and low prices but shifted its marketing strategy based on unique products where it emphasized the product distinct features for obtaining higher price and having competitive advantage in the market. The following HRM practices should be followed by RM to support the new strategy of unique products: 1. Work Schedules. RM was initially involved in the low pricing marketing strategy which involved a low pay structure for its employees and was having a production team of five day workweek affected by the unproductive time. By redesigning of the work schedules the time wastage can be reduced leading to productive worker and thus increasing the chances of better pay to the employees. 2. Rewards and Recognition. RM low pricing strategy emphasised in selling the product to the lowest bidder. By highlighting the distinctive features of the company's salt it can charge high prices and attract more customers. RM should motivate the employees for creativity and innovation and in performing better by giving rewards for better performance and various benefits like reimbursement of expenses. 3. Valuing of employees. RM was selling the product at low cost and no value was given to its employees due to which it had a poor performance.RM should value its employees by involving employees in generation of new ideas, job design and offering training, facilities like reimbursement of expenses, exercise room which will help in quality improvement and high performance.

HR is responsible to develop strategies for the minimum possible expenses a company can have. While doing so, quality of the work should not be compromised. HR needs to balance all the approaches in an efficient manner. The risks or disadvantages of an HR strategy based only on paying the low pages: • Shipping or logistics charges will remain too high. The place where employees are ready to work at low wages does not necessarily have good and inexpensive transportation facilities. • The workers might be not as much capable and take double the time to manufacture the required products. In that case, the saving cost and the time taken will balance each other thereby producing no extra profit. • The country which offers such low wages to the workers might imply some additional charges to the company with related to permission settings and other local norms. Low wages is not a factor of concern while setting up any industry. There are many things which provide impact upon cost cutting. The companies should do complete research analysis before choosing a new location. The net savings and net percentage profit is must to be predicted otherwise the decision can leads to loss as well.