Question

For more than 10 years you have been a human resources manager at a welding and machining company that has remained fairly stable. The business has 20-25 employees, most of whom have been with the company for nearly 25 years. Your firm has built a reputation of quality and the relationships of your long-time employee team with customers are a key pillar of your client service strategy. The company has been fairly isolated from skilled trades’ shortages, but you have heard about challenges in this sector over time. You have been tasked by your supervisor to conduct an environmental scan, and report on its impacts on HRM as a result of recent tariffs.

Your job is to research and complete an environmental scan of the external environment to determine what impacts the U.S. tariffs may have on the operating environment for your company relative to your competitiveness and HRM strategy.

For Preparation:

1. Create a 1-2 page chart that outlines the key factors of conducting an environmental scan.
2. Include at least five separate sources of information (i.e. Harvard Business Review, Statistics Canada) across the top as headings.
3. Include 5-7 data points of your choosing relative to the scenario down the side (cost of goods, salary information, etc.) to illustrate the impact that tariffs may have on HRM.
4. Complete the empty cells for each source.

Answer 1

After conducting environmental scan the report on its impact on the human resource management as a result of the recent tariff will be as follows-

1. Cost of the goods are increased- whenever the tariff is increased the cost of the goods in increases. This causes and adverse effect on the profitability of any company this is because when the price of a commodity the demand decreases. So the price of a commodity and the demand are inversely proportional to each other.
2. The increase in tariff of any product leads to an increase in price by the domestic consumer, this also affect the demand in a certain way because if only the domestic tariff is increased keeping the import tariff constant countries which are competing in international trade such as China tend to export more.
3. The increase in tariff also leads to slower job growth, because of the the decrease in profitability which arises due to to low demand of the product.
4. When the tariff is increased by the government the industries which are operating in that Sector tend to oppose the the government which causes a unstable government, that is for the first 5 years one government is form and for the next five years other government is formed this keeps on going on and one particular government does not get sufficient time to serve the people.
5. Increase in tariff in one industry also affect the overall development in other industry because the growth market is interconnected between each other. If one industry fails to grow at a rapid pace it also slows the growth of Other industries in the same way, if one industries is growing at a good pace it also boost the growth rate of Other industries.

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