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Multimedia Lecture Support Package to Accompany Basic Marketing Lecture Script 6-* Internal labor force is the labor force of current employees External labor market includes persons actively seeking employment The U.S. workforce is aging rapidly The diversity of the workforce is expected to increase from 2006 to 2016. Due to immigration, Asians and Hispanics have been the fastest growing groups in the labor force since The heterogeneous composition of the workforce challenges companies to create HRM practices that ensure that the talents, skills, and values of all employees are fully utilized to help deliver high-quality products and services. Because the workforce is predicted to become more diverse in terms of age, ethnicity, and racial background, it is unlikely that one set of values will characterize all employees. Worker performance and learning are not adversely affected by aging. Disabled workers can also be a source of competitive advantage Multimedia Lecture Support Package to Accompany Basic Marketing Lecture Script 6-* To successfully manage a diverse workforce, managers must develop a new set of skills, including: Communicating effectively with employees from a wide variety of cultural backgrounds Coaching and developing employees of different ages, educational backgrounds, ethnicity, physical ability, and race Providing performance feedback that is based on objective outcomes Recognizing and responding to generational issues. Diversity is important for tapping all employees’ creative, cultural, and communication skills and using those skills to provide competitive advantage. Creating a work environment that makes it comfortable for employees of all backgrounds to be creative and innovative Multimedia Lecture Support Package to Accompany Basic Marketing Lecture Script 6-* There are five main areas of the legal environment that have influenced HRM over the past 25 years: Equal employment opportunity legislation Employee safety and health Employee pa
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