Given increased globalization and demographic shifts, what changes in the workplace are likely to occur? Explain in terms of workforce demographics, new challenges, and benefits.

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Not only is the U.S. experiencing a demographic shift, but the world is also changing, and national borders are becoming blurred. This increased connectivity will highlight human differences while putting organizations in a position to benefit from the multiple perspectives gained through a diversified workforce. BANKS Industries continues to look for business acquisitions and plans to continue to expand over the next five years.

Consider forecasted changes in the U.S. and on a global level, and write an 8–10-page executive report addressing the following:

  • Given increased globalization and demographic shifts, what changes in the workplace are likely to occur? Explain in terms of workforce demographics, new challenges, and benefits.
  • How will these changes impact the way organizations function?
  • How will HR practices change staffing, rewarding, employee relations, communication, performance management, training and development, and technology? Within that discussion, point out current best practices that may require modification as well as the most appropriate modifications.
  • What are the legal and ethical implications of change?
  • How should current employees and leaders begin to prepare for this change? Prepare a change management plan that includes strategies to communicate relevant information to employees.

Write an 8–10-page executive report in Word format. Support your predictions and suggestions with scholarly resources and empirical evidence. The executive report should include a cover letter, a title page, a reference page, and sections addressing the topics listed. Apply APA standards to citation of sources.