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. …