Human Resource Challenges: Retail Store Case Study
The case study utilizes a retail store that provides electronics as the example. The questions addressed in this solution:
1. What are the human resource needs of the electronics store? What skills and training would employees need? How can employees best be helped to support the store's image?
2. What are the threats and benefits that are inherent in economic factors such as interest rates, consumer spending, consumer saving, unemployment figures, and inflation?
Employees engaged in retail sales would need to possess outstanding communications skills; along with being educated on each product's offerings. Those responsible for hiring workers must understand the legalities of recruitment and hiring, to ensure conformance with all Federal and local laws. Economic factors will definitely impact consumer spending. When people have jobs and money to spend, sales will be higher. When interest rates are low, the cost of making "big purchases" becomes very attractive. Even the "Holiday Season" can impact sales. HR must be ready to adjust staffing levels accordingly; to navigate the changes in consumer demand.