In the global environment today, drastic and significant changes are seen prevalently and
there are several factors affecting human resources aspect of both internal and external
organizations. They include demographic factors such as more older resources working in an
organization, the lack of skilled, knowledgeable and competent labor, the lack of skilled labor in
science and technology, and innovation initiatives; economic factors such as fierce competition
leading to business mergers and seeking more strategic partners; globalization factors leading to
less rules and regulations, borderless trading, high business growth, more competition, new