US Economic Forecast

free essayIt is very hard to predict future economic, political and demographical processes that influence the policy of the organization. However, using different forecasts I will try to formulate some recommendations about company’s internal and external policy for improving its present position on the market, developing new strategies and enhancement relations between employers and employees. Below different strategies on improving a company’s position in the nearest future and developing employer-employee relationships will be stated.

The employer-employee relations are very important for the future existence and development of the company, because head managers are only taking decisions on the basis of the existing information and on the basis of the employee’s work. However, the main work is performed by the employees. They are the main moving force of the company. Any misunderstandings and problems between the employer and employee or between the workers may cause problems on all the stages of the working process, for example collection of the information, analyze of it, development of appropriate decisions, implementation of them into real life, control of the process and decision-making at the expense of the obtained result. Additionally, the organization should have a very strong and wise leader who would not only sharply control the process, take effective and efficient decisions about future existence of the company. However, such factors as teamwork and followership should be represented in the company’s social policy. The employer-employee relations and their development greatly depend on the processes that take place in the American society and the whole world.

According to the different researches, the demographic profile of the USA will be changed greatly till the 2020. The USA population will increase, and it will become older and more racially diverse. (Shrestha, 2011). Due to the declining morality rates the survival would increase greatly. Fertility levels will hover around the replacement level of the generation. Additionally increasing migration processes would affect greatly the growth of the population. So, more employees would apply to different company’s positions and more people would be searching for work. However, increase of the quantity does not often mean the increase of the quality. The company’s recruitment policy should be based on the recruitment of the workers who really have necessary knowledge and skills, appropriate education and will to work, to take grounded decisions and to be responsible for them.

The American population will also become older. Even now there is a tendency of increase of a median age and of a proportion of persons aged 65 and more. It means that the age of workers will also increase. So, the company should provide different health protecting programs and support on receiving pensions. Additionally the growth of the age means that more experience employees will stay in the company for longer time. However, it also means that less new workers will come and the company may face the problem of lack of new vision on the existing problems and future prospects. The company should implement the programs that would stipulate recruitment of the young applicants. Also, it should observe the communicational process between the older and younger workers and prevent any misunderstanding based on the age.

So, concerning the above increment of the population, the employment will be also increasing. In the 2010-2020 the employment is expected to increase on more than 14 percent. It means that about a half a million of new jobs are expected to be created. Retail salespersons, nurses, personal and home health aiders will be especially popular occupations (also the incensement of population health influenced these processes). It is recognizable that all these occupations need a high school diploma (Lockard and Wolf, 2012). So, high education and market’s need well-educated and trained people would continue to increase. The company should follow this tendency in the present time and in future, and the main rule that it should follow is to hire high-educated and experienced personnel for improving its position on the market.

The American population is becoming more ethnically and racially diverse. Due to the increasing immigration processes there would be more colored people and less white. So, the company should strictly observe and implement preventive measures against racial discrimination and harmonize its work with religious peculiarities of its employees.

With the increasing growth of the population and employer’s demand of the high qualified personnel, the company will need the higher amount of high qualified workers who have scalene vision on the problems and who can perform different tasks. So, the company’s policy should stipulate different educational programs and programs that would increase workers’ qualification. The employers should especially pay their attention to the fields that would be more demanded in the future: business, engineering, economics, accounting and computer sciences. The employees should improve their knowledge and develop new skills, complete different training programs long after they are graduated from the college. The building of the multiply skill set will make wider the employee’s vision. The economy is changing and the company’s demand is also changing. It would be very convenient to have workers that can be transferred from the one field to another (Newman, 2013).

According to the investigations of the Bureau of Labor Statistics (BLS), nowadays modern developed industries widely use cheap work overseas. For example, assembly lined law skilled work (Newman, 2013). It means that the work of people outside the border of the USA is much cheaper than the work of Native Americans. This can be implemented into the company’s working process. The parts of a product or the full product can be manufactured in the countries of the ‘third world’. It will make the production cheaper and more competitive. Also, this may save cost of transportation and facilitate quicker and proper delivery of a production. However, the company should not forget that well-educated people who really know the process and the market situation and who are responsible for taking decisions are important. So, the managers can develop the universal strategies in the USA, while the common worker will implement these strategies while making production somewhere overseas.

Current and future economic development shows that the renewable power industries will be on high demand within the next 10 years. The USA will need more different resources of renewable power (solar energy, wind and water energy, or nuclear power energy) because of growth of population and of it demands. So, the company should develop its diversification strategies to cover more fields. The employers should be directed on the obtainment of new methods of receipt of renewable power resources (for example, closer cooperation with different scientific structures) and on the development of old methods for holding its market position and future growths.

According to the future economic prospects, the USA economy will be growing in a sluggish way and the country will be focused on a more domestic economy (Berdzenadze, 2013). It means that the most part of country’s commercial activities will be directed on national or commercial entity, for example the transactions inside the borders of the USA would increase rapidly. It means that the company now should develop its international cooperation with other companies (either suppliers or customers) in order to become the leader in the future. Usually a domestic economy presents different advantages in using local regulations and tax systems, customs and local currency. So, the employers should widely implement different domestic-economy-concerning strategies and make employees implement them into the company’s activity (for example, signing contracts with the American local suppliers).

At the present moment computers are implemented almost in every process. They are involved in our everyday life; they provide us with services and help to take decisions. In the nearest years and in the future computerization will be even stronger. Computer technologies will become ubiquitous (Maeda, 2010). However, the company should not forget that computers normally provide successive and evident decisions. They can perform everyday common tasks, while the human mind creates new ideas. The employees should be directed on analyzing the whole situation and developing new ways of company’s activity, while computers will perform everyday tasks automatically and avoid any mistakes.

The scientists say that in the nearest future advantages concerning consumer market and innovations in technologies will be the most profitable (Euromonitor International, 2013). The company should orient its production directly to the consumers, for example to find out consumers’ needs and necessities and to satisfy them in the most proper way. Furthermore, the company should not forget about lowering costs and expenses. According to the modern company’s policy, different rebates can be presented to the employees who are using their company’s production. This will stipulate the workers to work better and will show the possible customers that the production is really good.

According to the Dicker (2003), employers are responsible for developing strong and appropriate relationships with their employees and between the workers. This can be achieved through many ways such as leadership communication, setting appropriate strategies for organizational process, employee policy and communication (Dicker, 2003).

Organizational structure should be well and thoroughly controlled. Every process should be carefully checked, because mistakes at every step can null the efforts of the whole company. Head managers should supervise the collection of proper and necessary information, divide the necessary and unnecessary information, and on the basis of the existing experience develop new ways of solving problems and new company’s strategies. On this stage employer-employee communications and discussions should take place.

Workers also should be involved in the decision making processes, because managers see only the top of the problem and the results of the activity, but the work itself is performed by the employees and only they know all the difficulties and specifications of the process. However, totally vision is necessary for the implementation of global processes. In any case, the leader should properly explain all the aims of the company and describe the ways of implementation of the developed strategies.

If the employees do not understand him/her properly they would not perform their tasks in the efficient way. The sub-structures of the company should be coordinated and cooperated with each other, but not hinder and interfere.

The information about the performed actions and processes should quickly reach the head managers enabling them to take efficient and effective in-time decisions.

After taking decisions, the new ideas should be implemented into the current working process in a proper way. Then managers should explore the obtained results, analyze them, reveal strong and weak features of the process and take new decisions and implement actions for improving the company’s work. All these can be reached only when leaders understand the needs and wills of the employees and when employees share the ideas with the leaders, and in the end they should take the appropriate decisions together.

Above there were stated different forecasts about the development of the USA and country’s future, including demographic situation, economic forecast, technological prospects and social development. All these processes affected not only country in the whole, but also the particular company. The company should study the report and stated recommendations about the future positions and strategies. They will help to improve existing position and to be competitive on the market. They would have to promote the creation of the unique decisions, proper implementation them in the working process and obtaining high results.

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