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3 Major Human Resource Issues In Australia

Executive Summary

This assignment is a portfolio, based on three current topics in Human Resource Management. The common theme of all the media articles I reviewed is the recognition of people as an asset by the organisations to achieve their strategic goals and objectives. It is observed that organisations are directing their efforts to recruit, retain and develop this asset.

On reviewing the media articles, I have summarised the current HR issues in the following topics.

• Employee retention: A Link with the Bottom Line
• Aging workforce: A determinant in HRP
• Training & Development: A powerful HRD strategy

* The media articles are not attached however the ""REFERECES" section contains complete references for each article.

Employee Retention: A Link with the Bottom Line

Employee retention is the most critical issue in today's corporate world. Sharples (2007) in reporting Dr Cavanagh study refers that, it costs an organisation 150% of an employee's salary to turn over their position. Additionally, an employee's departure results in loss of valuable expertise and the corporate memory.

Organisations are working harder to get the right people in the right jobs – and keep them there. A recent survey of more than 300 private company CEOs by PricewaterhouseCoopers found that the majority (52%) believe that improved retention of key employees will have a beneficial impact on their company's business performance over the next 12-18 months (Tate 2007, p.16).

In short, the companies are acknowledging the importance of their workforce in asset creation and are devising a consistent and systematic approach for ensuring retention of key employees .

Factors Influencing Employee Turnover

It is becoming increasingly difficult to attract and retain talented employees (Sigler, 1999). A number of reasons are responsible for this.

On reviewing the media articles, it was found that the most common reason behind employees leaving companies appears...