What is the economy of human resources?

Human resource economics is a term used to describe collective strategies and approaches that seeks to solve the use of work within the workforce and how this use affects the greater economic well -being of the nation or other location. This type of economics usually considers the impact of the turnover of employees, unemployment and even the role of trade unions and government policies on the effective use of human resources. The general idea of ​​human resources economy is to understand the factors that interact to help grow and maintain the use of work in the workplace in the mutual benefit of the employer and employee, and at the same time measure the impact of this relationship on the economy in general.

Using the economy of human resources in terms of function in society, it usually includes an attempt to compare the skills needed for a specific job with the abilities of a particular employee. This process requires EV to make sure your employee's talents relating to the available work and determination of whether the employer and the employee BThey will benefit from the location. In the best possible scenario, the employee is happy and looks forward to coming to work, pleased with what is done during the working day. At the same time, the employer is satisfied with the productivity of the employee and there is no need to spend time, money and effort by attempting to replace this employee.

On a larger scale, the economy of human resources often focuses on the evaluation of employment issues that have an impact on a larger economy. This can mean solving unemployment problems in one or more industries and how these data affect consumer expenditure and general stimulation of the economy. Part of this process is also attention to the impact of employment laws, whether positive or negative. Even the roles of trade unions in the protection of employees 'rights and how these regulations affect employers' ability to maintain business in the long term are considered SOPressing economic aspects of strategies and human resources initiatives.

The scope of human resources economy seeks to understand and manage the effective use of work so that all participating parties are beneficial. This means the location of the work that meets the needs of the employee and the employer, while providing opportunities for growth, of which both parties benefit from both parties. From there, the impact of these efforts on the stability of the economy is taken into account, which in turn helps to enact legislation that changes contemporary work practices, or may prepare a way for performing new practices that ultimately benefit each economy involved.