The External influences of technology, the economy and the competitive market are impacting the employees' well-being an
Posted: Sun Jun 05, 2022 9:45 pm
The External influences of technology, the economy and the
competitive market are impacting the employees' well-being and
productivity within the workplace. The technological advancements
of automation have become increasingly popular within the
workplace. To cut down on costs, the automation of the production
of goods has caused employees to feel a sense of job insecurity.
The economic pressures of inflation rates have also increased the
amount of stress in the workplace, due to the pressure on personal
lives and job insecurity. Whilst these pressures are becoming out
of control, the competitive market is booming, which is impacting
the sales of our business. Due to the stress on the employees from
other external factors, their productivity has decreased.
Implementing proactive measures is essential to improve well-being
and promote job security to increase productivity.
The external influences of technology, economic pressures and
the competitive market have impacted the business and employees.
Firstly, the technological advancements of automation have both
positive and negative impacts. Muenigg (2015) indicates that
automation reduces errors and production costs whilst increasing
the output of goods. This is a positive benefit for the business,
as automation enhances business productivity. However, automation
has caused many employees to feel stressed due to job insecurity.
Johnson (2020) states that employees will feel anxious over their
job security due to the understanding that technologies will
replace their job functions.
With this current anxiety, the economic factors of inflation
rates are placing more pressure on the employees' personal
lives.
According to the Australian Bureau of Statistics (2022), the
Consumer Price Index (CPI) rose 2.1% this quarter, with over 12
months prior rising 5.1%, which you can see on the graph, with the
line depicting the change from the previous year. This increase in
the CPI impacts the financial and emotional well-being of the
employees. Also, more employees are seeking a pay rise to
accommodate the changing economic environment. This means the
business needs to search for ways to improve employee wellbeing
whilst affirming their job security.
Due to the employee's current state of ill-being, their
performance within the workplace is dropping. The competitive
market is booming. Due to the employees' state of ill-being,
methods need to be introduced to increase productivity. According
to Matto (2021), the Human Relations Theory states that employee
wellbeing is closely associated with higher morale which
subsequently leads to productivity. Increasing morale within the
workplace and affirming the security of employees' jobs is
necessary to improve productivity and regain top positioning within
the competitive market.
Generates distinctive solutions related to the above.
Clear and specific plans required.
competitive market are impacting the employees' well-being and
productivity within the workplace. The technological advancements
of automation have become increasingly popular within the
workplace. To cut down on costs, the automation of the production
of goods has caused employees to feel a sense of job insecurity.
The economic pressures of inflation rates have also increased the
amount of stress in the workplace, due to the pressure on personal
lives and job insecurity. Whilst these pressures are becoming out
of control, the competitive market is booming, which is impacting
the sales of our business. Due to the stress on the employees from
other external factors, their productivity has decreased.
Implementing proactive measures is essential to improve well-being
and promote job security to increase productivity.
The external influences of technology, economic pressures and
the competitive market have impacted the business and employees.
Firstly, the technological advancements of automation have both
positive and negative impacts. Muenigg (2015) indicates that
automation reduces errors and production costs whilst increasing
the output of goods. This is a positive benefit for the business,
as automation enhances business productivity. However, automation
has caused many employees to feel stressed due to job insecurity.
Johnson (2020) states that employees will feel anxious over their
job security due to the understanding that technologies will
replace their job functions.
With this current anxiety, the economic factors of inflation
rates are placing more pressure on the employees' personal
lives.
According to the Australian Bureau of Statistics (2022), the
Consumer Price Index (CPI) rose 2.1% this quarter, with over 12
months prior rising 5.1%, which you can see on the graph, with the
line depicting the change from the previous year. This increase in
the CPI impacts the financial and emotional well-being of the
employees. Also, more employees are seeking a pay rise to
accommodate the changing economic environment. This means the
business needs to search for ways to improve employee wellbeing
whilst affirming their job security.
Due to the employee's current state of ill-being, their
performance within the workplace is dropping. The competitive
market is booming. Due to the employees' state of ill-being,
methods need to be introduced to increase productivity. According
to Matto (2021), the Human Relations Theory states that employee
wellbeing is closely associated with higher morale which
subsequently leads to productivity. Increasing morale within the
workplace and affirming the security of employees' jobs is
necessary to improve productivity and regain top positioning within
the competitive market.
Generates distinctive solutions related to the above.
Clear and specific plans required.