Poster presentation on brexit, donuld trump, economic crisis by innovation squad

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