Environmental Analysis
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Get it written →In conducting the environmental analysis, it is important to have a solidunderstanding of these various elements of technology, market trends, andeconomic trends. Conducting an organizational self-assessment will be helpfulto identifying the gap that must be filled in order to be successful to beanalyzed (Mello,2006).
What types of indicators would you choose to analyze in each of these areasthat could provide valuable information to setting an HR Strategy? Forinstance, if you were a Used Car dealership you may find that you are going toget some extra business over the next few months. The reason being is thatdemand for used cars has gone up due to people not having the cash flow topurchase new. In this case, you may have to hire additional employees as salesfolks. If you did your own financing, you may have to find an additional loanwriter to help as well. From this point, you may want some additional economicdata to determine how long you would need these folks. This could help you knowif there is a chance that a layoff may come at some point which could lead tounemployment claims.
Feel free to chime in on this with some specific examples as well.
Reference
Mello, J. A. (2006). Strategic human resource management (2nded.). Mason, OH: South-Western Cengage Learning.
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