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Largest generation in the us workforce

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Identify and discuss the potential influence of three of the following trends and changes in the external environment on the design and implementation of human resource practices. How do these trends change Human Resource functions such as recruitment, training and development, compensation, employee relations among others?

Aging of the labor force

-The average American could be expected to live at least 78.6 years; by 2024, workers 55 years and older will be about 41 million out of a total workforce of 161 million. Increase in knowledge workers

-Workers who responsibilities involve more cognitive tasks such planning, decision-making, problem-solving, rather than merely physical execution tasks. Manual, routine jobs are experiencing slow growth while jobs requiring non-routine, intellectual tasks are increasing. Increasing diversity in the workforce (women and minorities)

-2010 - White (64%), Hispanics (16%), Black (12%), Asian (4%)

-2050 - White (46%), Hispanic (30%), Black (14%)

-Women 47% of the workforce, will reach 50% by 2020

-80% of women with school-going children employedIncreasing number of foreign-born employees

-Highly-skilled immigrants

-Low-skilled immigrantsMulti-generational workforce

-Millennials (born 1981 - 1996) were 35% of the labor force (2017 statistics). This is the largest generation in the U.S. workforce

-Generation X (born 1965 - 1980)were 33% of the labor force (2017 statistics)

-Baby boomers (born 1946 - 1964)were 25% of the labor force (2017 statistics)Increasing use of social networks

-There are 3.5 billion social media users around the world; Facebook has 3.2 billion active monthly users; 68% of US adults use Facebook; 1 billion people use Instagram every monthGlobal warming, environmental awareness, sustainability, Corporate Social Responsibility (CSR)

-3/4 of millennial would take a pay cut to work for a socially responsible company

-55% of consumers are willing to pay extra for products and services from companies that have dedicated social impact plans

-Studies show that CSR functions are responsible for more than 40% of a company reputation

Reference your sources.

Reference no: EM132823123

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