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Due to socio-demographic, technological, and environmental trends the Australian workforce and nature of work continue to change. In your essay titled “Changing Face of Work in Australia“, you should;
- identify the trends influencing the changing nature of work in Australia,
- critically discuss HRM implications related to identified trends (Note – your discussion should focus on implications for at least three(3) of the related HR functions such as HR planning, job design, recruitment, engagement, and retention)
- critically discuss associated challenges and opportunities for employers and employees. Note – Your essay should incorporate examples from Australian organisations and/or industries to support your discussion.
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In the modern era, businesses are currently functioning on the concept of changing the face of work as the operations and strategies have now gained expansion while isolating the techniques from traditional organisational practices. The idea of commercialisation and globalisation are the two fundamental conceptions that are shaping the economic system of the Australian market. In this regard, alterations and innovations in profit-seeking activities and organisational strategies of Australian enterprises have assisted the business to avail the prevailing advantages and benefits of the market while sustaining value in the profit acquisition (Johnson & Suliman, 2016; Price, 2007). As there is no specific organisational chart for global businesses, the policies and norms designed by current Australian businesses are based on the re-configuring components that can assist them in increasing the effectiveness and efficiency of the business. In this regard, the essay focuses on discussing the key trends were influencing the changing nature of work in Australia also examines the implication of the identified trends in human resource management practices. In addition to this, the essay also scrutinises the current challenges and opportunities for employers and employees in Australia.
Analysis of the changing face of the Australian Market
E-Commerce also is known as electronic marketing consists of selling and buying goods on an innovative electronic system is one of the critical trends prevailing in the Australian market. The total revenue in the Australian e-Commerce in the year 2018 was the US$18,628m. By the year 2023, the total amount of volume generated from the e-commerce market is the US$26,905m with an annual growth of 7.6% from 2018 to 2023. In concern to the E-commerce market trends, the most influential segment is the Fashion segment, which has a total volume of US$6,595m in the year 2018 (“eCommerce – Australia | Statista Market Forecast”, 2018). The user penetration in the market is accounted to be 72.2% in the year 2018 and it is expected to reach up to 75.3% till the year 2023. US$1,043.24 is the total amount stated under the average revenue generated by per user. The continuous growth in the profit generated by the E-commerce trends and practices clearly denotes that businesses are engaging in online business activities in order to align their businesses with current trends. Over 85 % of the people living in Australia are connected to the services of the internet, and 12.1 million Aussies are currently using the social media as the tool to avail services and products offered by the organisations (“eCommerce – Australia | Statista Market Forecast”, 2018). In addition to this, it can be stated that the future success and growth of the retail sector lies under designs and strategies incorporated in the current trends of the market as the factor of convenience given to the customers is helping the organisations to smash the economic records in the future. As per current global e-commerce trends, Australia is considered as an e-commerce powerhouse, this can be further illustrated through the growth of online shopping in the year 2017 which grew to over 10% while, on the other hand, the store foot traffic increased by just 3% (“eCommerce – Australia | Statista Market Forecast”, 2018).
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