A/ Assignment recap

You are required to submit an overview of a variety of potential issues and challenges facing the HRM strategy of a range of fashion business in the current industry environment, and the strategies they may enact in response. Select two of these challenges to be examined further.

Select three real businesses and two HRM-specific issues or challenges. These businesses should represent a cross-section of business sizes and market levels (i.e. small independent, national chain, multinational, fast fashion, luxury etc.).

Discuss, compare, contrast and analyse the effect that these two challenges have on each of the businesses, and how it will affect each of them differently or similarly. Outline potential initiatives or strategies that the business may apply in response to each, using plenty of examples where appropriate.

Suggested structure

I. Executive Summary

II. Issue 1

III.  Issue 2

IV. Brand 1

V. Brand 2

VI. Brand 3

VII. Conclusion

B/ Detailed guideline

I. Executive Summary (150-200 words)

General introduction: current state of the fashion industry relating to HR and possible HRM difficulties that you will discuss (1-2 sentences)

What companies and challenges will you discuss in this report (1 sentence)

Give a short evaluation of 2 challenges (why businesses have to face these challenges, the impacts of these problems on the businesses) (2 sentences)

What are the incentives businesses have to take to cope with these challenges (1-2 sentences)?

Example

In today's dynamic fashion industry landscape, Human Resource Management (HRM) faces significant challenges, notably low talent retention rates and issues surrounding workforce diversity and inclusion. This report delves into the HRM difficulties faced by renowned fashion brands such as (name your chosen brands), shedding light on their impacts and potential solutions. Low talent retention rates challenge companies as they invest in recruiting and training employees only to see them leave prematurely, resulting in increased costs and disruptions to business operations. Workforce diversity and inclusion are equally vital issues in a globalized industry, as failure to foster inclusivity may lead to reduced employee morale, creativity, and innovation, hampering competitiveness. To address these challenges, fashion businesses must implement comprehensive talent retention strategies, including career development programs and competitive compensation packages. Additionally, embracing diversity and inclusion through inclusive hiring practices and fostering a culture of belonging can enhance employee engagement, attract diverse talent, and drive sustainable success in the highly competitive fashion sector.