HRD trends in Australia and consequences -

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Human Resource Development Question

McGraw (2014, p. 102 – see eReading 9.4), based on his review of HRD trends and practices in Australia in multinationals and local companies, claims that ‘overall investment in organisational HRD has declined and that HRD practices have become narrower and less sophisticated’. Discuss the likely consequences of this trend for Australia workplaces in a globalised business environment.

Human Resource Development Solution

HRD Trends in Australia and Consequences

The study of McGraw reflected on the decline in the overall investments in organizational HRD (Human Resource Development) in Australia, which is tending to grow narrower and less sophisticated. The findings of this study have also revealed mixed actions and considerations being taken up by the different industries in the country. If investments of Australian businesses tend to decline on their HRDs, then chances are they would lag behind while targeting global markets with their offerings. HRD as a whole embraces the importance of employee empowerment and helps in improved management of human resources in an organization.

Activities of HRD are focused on enabling employees to perform with the best of talents and aspirations, which in turn benefits their companies to perform effectively. Factors such as employee motivation, employee satisfaction, and employee retention, along with effective employee recruitment, selection, training, appraisals and performance management are considered by HRD, which makes it crucial for an organization’s success. The globalized business environment calls for the need of human resources who are trained and developed based on ongoing learning and knowledge management measures, wherein they have to be capable of adapting to different countries and their respective market needs…………….