Assume you have to develop an HR plan for a new generation private sector bank having branches in major towns in India: What specific external factors would be important for you to consider. Why?
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Answer:
These external factors can be broadly categorized as the social and cultural, technological, economic, political and legal environments. While these external influences are often outside the control of HRM, they often require action from HRM to address their effects on the organization and its goals.
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Economic, sociocultural, technological, political-legal, and professional association external influences on human resource management.
Explanation:
- Economic, political, technological, and demographic issues, among others, all have a significant impact on HRM.
- External influences are components that have an impact on a business' performance and outcomes from the outside.
- The economic, political, and social environments of the places where the corporation works frequently include these elements.
- Factors Affecting Human Resource Planning:
- Kind and Approach of Organization.
- Planning and organisational growth cycles.
- Uncertainties in the environment.
- Horizons in Time.
- Information Type and Quality.
- Employer market.
- As the foundation for an organization's external supply of human resources, population and labour force have an impact on human resource management. Organizations should distinguish between the workforce and population when considering population and workforce as a source of external human resources because only some of the population is able to work.
Thus, there are two types of environmental elements in human resource management: external and internal.
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