poster presentation on brexit, donuld trump, economic crisis by innovation squad
TRANSCRIPT
ECONOMIC CRISIS,
BREXIT & REGIME OF DONALD TRUMP:
SHRM IN AN UNCERTAIN TIME
“We will follow simple rule. Buy
American and hire American”
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0602. The Immigrant Workforce
Trump also wants to deport millions of
undocumented immigrants, ostensibly to
pave the way for U.S. citizens to get the low-
wage jobs they hold.
03. New restrictions on hiring
foreign workers.
The Trump administration may mandate in
new ways the hiring of unemployed
American workers before foreign workers.
05. The Opportunity
Trump has an opportunity to engage in the
private sector and impact millions of
disenfranchised workers.
04. The Minimum WageTrump has called for a higher minimum
wage. “A truly bold increase in the minimum
wage would lift pay for the bottom quarter
or more of the workforce.”
01. Pro-employer Practices
To make America the “best place in the
world to get a job,” Trump has pledged to
create 25 million jobs over the next 10 years
06. Restriction on Outsourcing JobFrom the Trump’s election agenda there has
been clear prediction that Trump will
possibly set barriers on outsourcing the low
paid and industrial jobs to the offshore
countries.
POSSIBLE CONSEQUENCES ON LABOR AND EMPLOYMENT UNDER TRUMP THAT
MIGHT HAVE STRATEGIC IMPLICATIONS 01. National Fight for $15 CampaignThe Fight for $15 won’t be going away anytime soon. Nineteen major
cities have mayoral campaigns around this issue in 2017.
02. Paid Leave Expansion/Pay Equity LegislationThe paid leave issue began in two to three cities, with the support of
roughly 500,000 activists. Paid leave is now in 30 jurisdictions and is
growing organically. It is becoming a mainstream, non-partisan issue.
03. Restrictive Scheduling Legislation
Predictive or Restrictive Scheduling is somewhat controversial
legislation that is intended to protect workers in retail and
restaurant industries by providing advance notice of
schedules, among other things.
05. State Overtime Legislation
States will revisit overtime rules, especially if
they have Democratic governors and
legislatures.
04. Wage Theft EnforcementThis is usually in the form of a wage board that
ensures that employers comply with the minimum
wage. This is a strategy that was developed by the
labor community to eventually create mini-NLRBs
throughout the country.
HR ISSUES BEYOND THE CONTROL OF TRUMP
IMMIGRATIONPolicy change will restrict low-skilled
workers coming to the UK, impacting
sectors such as agriculture – but it could
result in an increase in the number of
highly-skilled migrant workers.
TRADE
Small impact as some tariffs have fallen
over the past two decades. Increased
negotiating powers will help offset higher
costs for food, drink and car producers.
REGULATIONThe UK is subject to EU regulation. Brexit
may mean less red tape. It could also mean
UK businesses would have to adapt to a
different set of regulations which could be
costly.
FINANCIAL SERVICES AND THE CITYNegative in short term but not a disaster.
City’s competitive advantage not solely
down to single market access and could
open up long-term opportunity.
PROPERTY MARKETEasy to create a doom-case scenario but
scientific, professional and technical
services driving London office creation –
not financial services as often perceived.
PUBLIC SECTORBrexit would benefit the UK, but not to
a huge degree – economic disruption
and lower migration could offset
some savings.
FOREIGN INVESTMENTBritain to remain a safe haven for foreign
investment in the longer term. Weaker
investment in the short term as new tariffs
are negotiated but once in place, losses
could start to be recouped.
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THE ECONOMIC IMPACT OF ‘BREXIT’
NNOVATION QUAD Department of Management
University of Dhaka
Conduct an auditConduct an audit of workforce to assess which employees could be subject to the new laws. If any employees have
lived in the U.K. for at least six years, they are eligible for British citizenship, which can have tax implications for the
individual and the employer.
Smooth CommunicationCommunicate with employees, even if there is no new news. "Be connected; it's very important" to let employees
know the organization is committed and supportive of them and that the organization is keeping up-to-date with
environmental changes.
Plan for long-termPlan for a longer lead time to get new employees on board if your organization wants to recruit large blocs of
employees.
Creating Task-forceCreate a task force to help bring together skill sets for the organization's industry, with HR as a key member of the
task force. The task force can act in an advisory capacity to the organization's leaders and help with communication.
Exploring the OptionsDrill down to see what options are available and what guidance employers can provide to their employees.
Steps HR Can Take To Prepare for Post Brexit Situation
01CommunicationDeveloping a clear stakeholder engagement plan that covers employees and their representatives,
executives,potentiallytheirfamilies,theboard,shareholders,regulators,customers,suppliersandsoon.
02LeadershipConsulting with leaders to review the focus and priorities of HR support and services, and then
realigningtheseasnecessary.
03MotivationAssessing the impact of economic volatility on bonus pools and incentive targets, and
decidewhatactionisneeded.Dotheseremainfit forpurpose?
04Data & Technology Reviewing planned technology implementations to determine which these should be
postponedandwhichshouldbeaccelerated.
05Labor Markets & Immigration
Identifying who is affected by potential changes to immigration status and provide
targetedsupportasappropriate.
06Maximizing efficiencies
Revisiting efficiency opportunities, including within HR itself. Are there efficiency or productivity
increaseopportunities thathavepreviouslybeendiscardedthatcouldnowbeviable?
07Political Trust Agenda Reviewingfairpaypolicy,coveringexecutiveandwideremployeepay.
ConsideringHRinitiatives tobuildbusinesstrust.
HR Priorities to explore opportunities that Brexit creates
Close
Strategic Fit There is a rising debate regarding the
alignment of HR as a source of real value
to firm’s business objectives and so HR
system needs to be closely integrated with
overall organizational strategy.
Workforce
DevelopmentIn response to economic crisis firms
need more cautious manpower planning
ensuring that it will have the potential
to be invested for future training and
development by firm.
Change
Management As the global economic and political
landscape is rapidly changing firms
need to develop the business
intelligence system that will create
flexibility for change management.
Knowledge
Management
The skill gap is rising and becoming
difficult to fulfill the organization
expectation. Firms need to invest in
learning and development to ensure
competitive advantage.
Organization
Restructuring Economic crisis critically generates
recession which necessitates
organizational restructuring.
Changing Reward
SystemIn order to maintain the consistency
with the overall cost structure HR
should meticulously review for any kind
of changes, if any, in reward system to
gain the cost leadership strategy.
Affected HR areas due to Economic Crisis