Prepare HR Business Proposal for The Levy Company Please see attached requirements

Swot Analysis: Opportunities

Name

College

MSHR 655: Capstone

Professor Carol Bartholet

February 17, 2021

Swot Analysis: Opportunities

As that are many opportunities for The Levy Company, the top three Human Resources (HR) opportunities are workforce growth, new technology, and higher wages. Although these opportunities can help The Levy Company HR there are factors that can impede their progress.

Workforce Growth

“One of the most significant external factors for HR is the opportunity for workforce growth due to increased demand for the company's products and services” (Mayhew, 2019, para. 1). Increase business leads to better raises or higher wages for current employees and growth in the neighboring community through the hiring of more workers. In construction, opportunities may also present themselves as the company's ability to land a highly successful job whose business development activities improve its reputation or industry ranking. Political factors that can affect the workforce growth infrastructure regulations and funding which prohibit new jobs. The economic factor that impedes on workforce growth is the unemployment rate.

Workers who are suddenly out of a job, have less money to spend, which reduces revenue for companies. Reduced revenue causes businesses to cut employees to reduce costs. And the cycle goes downward, causing devastation on the way (Western Governors University, 2019, para. 3).

The social factor that can hinder workforce growth is failure to understand the variety of demographics in our workplace. With new technology for on-boarding and instant messaging services, it’s possible to hire candidates from anywhere in the world. The Levy Company will likely have a variety of workers from all over Texas. Because these individuals come from all over, they may have different expectations in payment structure, training, and communication. The Levy Company’s HR needs to make sure they can new and current employees have proper access to information, training, compensation, benefits, and more.

New Technology

With the developing technology HR functions have increasingly adopted platforms that include both employee self-service (ESS) and manager self-service (MSS) tools to make HR information more accessible (Zielinski, 2019). Although, new technology make thing easier for Human Resource Departments (HRD) and employees it can also be challenging. These challenges can come in the forms of PESTEL analysis. The factors that affect new HR technology are legal, and technological. The legal factors that can affect new technology in HR are if state and federal laws. For example, Driver's Privacy Protection Act of 1994, which regulates third-party access to individual driving record information, can cause problems for The Levy Company due us requiring current driving record for all employees. The technological factors that affect new technology are internet and communication infrastructure, life cycle of technology, and Technological awareness.

Emerging and Growing markets

In Texas, where Levy Company is located, various markets are developing, and they need an electrical construction company that will help them in various installations. Since there is a development of various markets within the area, Levy Company will get various tenders of making constructions in the developing market. The development of markets is an opportunity for the company to expand its services. Emerging markets can be an opportunity of marketing the constructions from the company since people of the state can access the market and see the services the company is providing. Emerging and growing markets can be an opportunity for the state to make much profit. The factors that can affect use expanding is political infrastructure funding and regulations and the economic stability of the new location (i.e., unemployment).

References

Mayhew, R. (2019, August 8). Human Resource SWOT Analysis. Your Business. https://yourbusiness.azcentral.com/human-resource-swot-analysis-1288.html.

Western Governors University. (2019, May 28). Effects of Low Unemployment Rates on Businesses. Western Governors University. https://www.wgu.edu/blog/effects-low-unemployment-rates-businesses1905.html#:~:text=The%20unemployment%20rate%20in%20the,actively%20looking%20for%20a%20job.&text=Workers%20who%20are%20suddenly%20out,cut%20employees%20to%20reduce%20costs.

Zielinski, D. (2019, August 16). Self-Service Technology Brings Benefits and Concerns. SHRM. https://www.shrm.org/resourcesandtools/hr-topics/technology/pages/self-service-technology-brings-benefits-and-concerns.aspx.