Human Capital: the State of Play in Australia

Topics: Human resource management, Human resources, Management Pages: 10 (3430 words) Published: August 22, 2013

HUMAN CAPITAL: The State of Play in Australia
Human Resources Management

Bev Broughton

Assignment number 1
Due Date: 13th April 2011
Weighting: 50%

Oscar Mauricio Cepeda Rosas

The Australian work force is a reflection of the characteristic of the Australian society, the analysis of the human resource environment can give some challenges that the companies face nowadays in a multicultural society such as Australia. The Australian workforce describes a old-fashioned human resource management as a result of the competence produced by migration strategies which affect directly or indirectly the policies and procedures in today’s Australian companies. Its work force also requires strategies that drives organizations to a competitive world and its strategies requires ethical, legal and health and safety addresses in order to compete with others organizations which has competitive human resources management as well. As a result of study that had been performed by Bill Farrell which is the leader of the Human Capital Management at IBM Asia-pacific; there are questions that were not answered, for instance, is human capital management enough strategy for Australians companies? Is only Australia the country that need to change their HR policies and procedures? There are another country more develop in HR matter than Australia? Is Australia fairly enough laboratory of workforces management in order to prove that human resources of an organization is different than human resources function? There are organizations which can not quantify the income from human capital programs (De Cieri 2008, P. 43). Most of Australian organizations have bored and lack of motivation workers in order to enjoy their job. Repetitive work leads people to become disillusioned, bored or depressed (De Cieri 2005, p. 13). Australian organizations have to be a very good place to come to work, its organizations also need to keep people smiling, focused and productive. In a case study of call centres in Brisbane which Kevin Panozza is manager, its organization is one of the most successful call centre in Australia (De Cieri et. Al 2005, P. 3). Based on the above factors, this essay will discuss the relations between each one of these factors and how its factors affect the organizations and the new tendencies that HRM has to improve in the following years in order to be competitive in the market. The purpose of this essay is discuss the above questions through theories and models; also give some examples about the characters of the Australian workforce, their environment and the challenges that HR management is facing today; the essay also will discuss the necessity of strategic human capital management and some requirements such as ethical, legal and OHS; and lastly, Discuss which are the competencies that HR executives need in order to become strategic partners for the companies. The Australian population is one of the most successful multicultural populations around the world. The composition of the population is being changed, its composition causes changes in the workforce behaviour (De Cieri 2005, P.12), however, the worldwide labour market is experimenting a shortage of skilled people. Changes in the population composition is the main reason of the lack of skilled people in Australia. The ageing workforce is the consequence of shifts in the Australian population, for instance, while older population is growing through last ten years (De Cieri 2005, P.12), young population is decreasing compare with the proportion of adult population in Australia. De Cieri claims that there was the labour composition in countries such United States and Canada, they are countries which have the same problem such Australia and there is the difference in population composition between Asian countries and Australia. There is an interesting issue that drives the research in the composition of workforce in Australia and also how through modern...

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