Analyse the impact of the key external environmental influences on HRM, using examples to illustrate.

The external environmental factors described in the following essay have a direct or indirect influence on HRM. To be effective, HR managers must monitor the environment on an ongoing basis; assess the impact of any changes; and be proactive in implementing policies and programs to deal with such challenges. Economic Environment The economic environment has a major impact on business in general and the management of human resources in particular. Economic conditions affect supply and …

…Victoria Australia 8.<Tab/>Stone, R. J, (2005) Human resource management, Milton, Qld.: John Wiley & Sons Australia, ch 1 9.<Tab/>Travaglione, A. and Marshall, V. (eds) (2000) Human Resource Strategies: An Applied Approach, Irwin/McGraw Hill, Roseville. 10.<Tab/>Todd, T and Crake. A, Human Resource Management 237, lecture notes (2005) 11.<Tab/>Young, S. (2000) 'Outsourcing: Lessons From the Literature' Labour and Industry, 10(3), pp.97-118.