Human Resources Policies And Practices - 1492 Words

In today’s interconnected environment, the possibility to work in isolation is infinitesimally small. Its internal, micro affects any organization, either positively or negatively, and macro environment and so does its Human Resources policies and practices. The internal environment is shaped by the employees, the office technology etc.; the microenvironment relies on forces like the competitors, suppliers and distributors. The Political, Economic, and Socio-cultural, Technological, Environmental and Legal forces, on the other hand, determine the macro environment. Being an integral part of any Organization, it is very important for the HR practitioners to keep track of the macro environment as because of its broader aspect and a much†¦show more content†¦On the other hand, there has always been a class of people who have time and skills but not enough money. In terms of simple economics, the on demand economy has provided a space where the demand and supply of these players meet and has led to the creation of a market where these forces can interact. This gives consumers greater choices, while letting people work whenever they want and the whole society gains because its idle resources are put to use. Startups, which act as middlemen, have raised lots of venture capital and today we see chauffeurs, cleaners, electricians, baby sitters, carpenters, grocery, medicines and what not provided at our doorstep. This on demand industry not only works in the Business to Consumer (B2C) markets but has grown profoundly in the Business to Business (B2B) markets as well where companies can hire freelance lawyers, consultants, scientists and experts from different fields to meet their specific business needs. The on demand workforce is becoming so ubiquitous and popular that in near future they will have the capacity to transform the entire service economy challenging the nature of firms and structure of careers thus having a massive effect on the entire wor kforce. The working model of the on demand industry might seem simplistic in first glance but the intricacies of this are more nuanced at deeper levels. The industry is growing at a fast pace where more than 50 million American workers are