Sample Business Studies Paper on Ted Talk by Rainer Strack

The Ted Talk warns of the progressively decline population of adult citizens in most of the developed economies. In particular, the human resource specialist Rainer Strack speculates that the low labor supply and demand among the older population will create serious shortages of human resources by 2030. Consequently, he proposes that such countries should recruit more talents from other countries with more willing and competent job seekers or adopt modern technological applications such as robots. Additionally, employees should adopt more employee-centered perceptions to human resource issues to attract and retain competent workforces.

Identification and explanation of how the Ted Talk relates to the increasingly strategic role of human resources in organizations

The human resources in organizations are strategically responsible for developing effective training and development programs. Such programs can facilitate the preparation of future workforces with the entities to replace the ageing population. In essence, training and development are crucial strategies for succession planning and employee retention. Organizations should adopt such policies to protect against possible drop in labor demand and sustain the general competency levels.

Undeniably, the speculated workforce shortages explored by the human resource specialist Rainer Strack will require entities to adopt various strategic plans.  The businesses should ensure accurate formulation of varied functional processes to satisfy various organizational HR goals and objectives. Furthermore, the strategic management of the contemporary human resource can strengthen the development of explicit and concise job definitions and responsibilities. Notably, such clarity can streamline future recruitment and hiring processes. The primary essence is to attract and retain the right candidates for the positions held by the ageing employees.

The HR departments should adopt various recruitment and hiring strategies to help the organizations to maintain competent employees. For instance, they can approach different technical and vocation training institutes to recruit experienced individuals capable of replacing the older personnel.  Likewise, organizations and governments can increase retirement ages to facilitate skills transfer and the recruitment of competent employees. Markedly, increased retirement ages implies improved workplace safety and effective management of risks. Lastly, human resource departments should emphasize on good morals and adherence to relevant ethical standards when future employees. Comprehensive aptitude tests will facilitate such background tests that will seek to ascertain that the selected employees are meeting the basic qualification requirements. Lastly, businesses in the developed European countries such Germany must prepare to counter the impacts of declining populations of experienced and competent employees.

The three concepts I found interesting and explanation of how I can apply the information in my professional pursuits as a Realtor

Outstandingly, I find numerous concepts from the Ted Talk by Rainer Strack extremely interesting. The first concept emanating from the Ted Talk is the perceived impact of progressive aging on native workforces particularly in the European countries. Other two concepts includes labor supply and labor demand.  As a realtor, I can apply the three concepts in my professional pursuits. For example, the progressive aging of current employees in the real estate industry implies more opportunities for promotion and higher levels of experience. The rising number of younger workforces will result in the increase in demand for experienced and competent individuals. Additionally, increase demand and low supply of realtors will imply higher wages and other related benefits. Specifically, I believe that I will benefit more from the projected reduction in the supply of realtors by 2030 because of the controversial issues of progressive aging in most workplaces.