THE U.S. WORKFORCE All people 16 years and older who are employed or looking for a job More than 150 million people have full- or part-time jobs Source: The Occupational Outlook Handbook

THE CHANGING WORKFORCE Education and training High school education or more as a minimum Special training (College, MBA, Technical degree…) Basic skills and a willingness to work hard no longer good enough to get a good job… Compensation High-paying jobs – require more skills and education Low-paying jobs – harder to live comfortably Type of Work Working with machines and technology Working mainly with people and information

TYPES OF JOBS Classified by industry Classified by occupation Service-providing industries services that satisfy the needs of other businesses and consumers. Goods-producing industries produce or manufacture products Classified by occupation White-collar jobs (example Accountant) is one whose work is more mental than physical Blue-collar jobs (example mechanic) involves a great deal of physical work

SERVICE-PROVIDING INDUSTRIES Trade, transportation, and utilities Information Financial activities Professional and business services Real Estate Educational and health services Leisure and hospitality Other services

GOODS-PRODUCING INDUSTRIES Natural resources and mining Construction Manufacturing

OCCUPATIONAL CATEGORIES Professional (Services) Service Construction and extraction Management, business, and financial Installation, maintenance, and repair Office and administrative support Sales Transportation and material moving Farming, fishing, and forestry Production

CHANGING JOB REQUIREMENTS Consumer preferences Jobs are affected by consumer demand for a product or service Business cycles Stages of the business cycle affect job opportunities New technologies improves efficiency so that businesses may stay competitive Business competition Companies must be competitive to stay in business.

Business competition Downsizing Outsourcing is a planned reduction in the number of employees needed Outsourcing removes work from one company and sends it to another company that can complete it at a lower cost.

HUMAN RESOURCES OVERVIEW Human resources are the people who work for a business. They are responsible for: Management and employees Full-time and part-time workers Temporary workers and long-time employees

HUMAN RESOURCES OVERVIEW Human resources department Larger companies have a department to handle this function Human resources management in small businesses The owner of a small business will be responsible for managing human resources

HUMAN RESOURCES GOALS Identify the personnel needs of the company. Maintain an adequate supply of people to fill those needs. Match abilities and interests with specific jobs. Provide training and development. Develop plans to compensate personnel. Protect the health and well-being of employees. Maintain a productive and satisfying work environment.

HUMAN RESOURCES ACTIVITIES Planning and staffing Performance management Compensation and benefits Employee Relations

PLANNING AND STAFFING Activities Job analysis Recruitment and selection Job placement

COMPENSATION AND BENEFITS Activities Wage and salary planning Benefits planning Payroll, benefits, and personnel records management