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Human resource project
Present
Aj. Phuping Mano
BACHELOR IN
AVIATION LOGISTICS BUSINESS MANAGEMENT
SCHOOL OF MANAGEMENT
MAE FAH LUANG UNIVERSITY
ACADEMICS YEAR 2016
©COPYRIGHT BY MAE FAH LUANG UNIVERSITY
Dandao Sukantanak 5731210093
Phatcharaporn Thaviset 5731210146
Phetphailin Yammaneechai 5731210159
Fareeda Budlam 5731210163
Manlika Udta 5731210180
Wisaruta Chaowlaka 5731210201
Wissuta Teerageerayut 5731210202
Ma Maison Nursing Home
Preface
As a part of the essential guide to human resource and talent management in
order to search about planning to manage the nursing home business. The basic
behind doing this report is to get knowledge or tools of how to manage the business
or people in the organization.
In this report we have included executive summary, statement purpose,
organization structure, and human resource management.
Doing this report helped us to enhance our knowledge regarding the work of
how to training or managing people in order to support the organization’s
achievement, know how to ensure the worker performance, and know about
important of how to work to achieve the goal.
Group member
 
 
                   
 
 
 
  
 
 
 
 
 
 
 
 
Table of contents
Executive Summary ................................................................................................................ 1
Statement of Purpose .......................................................................................................... 1
Organization Structure ........................................................................................................ 4
Work flow in organization ..................................................................................................... 4
Organization structure .......................................................................................................... 5
Human Resource Management
Job Analysis & HR Planning .................................................................................................. 6
Recruitment & Selection ........................................................................................................ 9
Recruitment................................................................................................................ 9
Selection .................................................................................................................. 11
Training & Development .................................................................................................... 12
Performance Management ................................................................................................ 12
Health, Safety and Ethical Concerns ................................................................................ 13
Conclusions.......................................................................................................................... 14
References ........................................................................................................................... 16
1. Executive Summary
From the problem of aging society increased around 14.9% in Thailand,
expanding number of middle class people and strongly development of technology.
Our group decided to operate the nursing home business with high technology,
innovation and affordable price for middle-class people to support the megatrend of
aging society, middle class people and technology development.
This report contribute process for human resource management plan of
Nursing home business. Methods of analysis include the explanation of job
description and job specification for job needed in an organization, the process of
recruitment and selection along with interviewing techniques used for selection
method. Moreover, in this report also describe about the training method they need
to have and develop in order to support organization’s achievement, the process that
used to ensure the workers’ performance, and explain the approaches used for
compensation and benefits
 
2. Statement of Purpose
In twentieth century period, the life expectancy of people is raising. According
to Pettinger (2016), life expectancy in the US has increased from 45 in 1902 to 75.7
in 2004. Even in the past 50 years, life expectancy has risen in most western
economies.
The figure below shows the trend of life expectancy of people that is increasing
every decade in three main countries.
1
On the other hand, although the trend of life expectancy is increasing, but the
birth rates turn to decline. This will create the anxiety about the impact of an aging
population. Pettinger (2016) said that a demographic time bomb and the fear future
generations will struggle to meet an ever increasing number of retired workers and
pension commitments.
The figure below shows the increasing number of population over 65 years.
From the information above, it can be said that the number of aging population
continue to grow up, and also expanding year by year. This make this group of
population become extremely important and more concern for both government and
private sectors. H.S. Borji (2016) stated that the populations in places such as North
America, Western Europe and Japan aging more rapidly than ever before,
policymakers are confronted with several interrelated issues, including a decline in
the working-age population, increased health care costs, unsustainable pension
commitments and changing demand drivers within the economy
Apart from the world’s increasing rate of aging population, the trend of aging
population in Thailand is also continued to increase constantly. The National Bureau
of Statistics has conducted a survey of the elderly population four times, start from
year 1964, 2002, 2007 and in year 2011 has found that the rate of elderly people in
Thailand have increased continuously. And last year's survey in 2014 showed that
aging society has been increased around 14.9% (Population Statistics Group Social
Statistics Bureau, 2014).
2
If compared with childhood and working age, it can be clearly seen that the
elderly are growing faster than any other age. So, the elderly rate is continued to
increase more in the future.
The figure below show that the statistic of growing in aging society compare
with childhood and working age from year 2010 to year 2040.
Foundation for Older Persons' Development, 2015
From the information above shows that in Thailand, the number of aging
society continues to increase and it still growing more in the future as well. The
problem of higher aging population proportion that leads to more demand in many
aspects of services, both public and private sectors need to be involved for managing
these demand in the most appropriate way. It shows that the aging group of people
become larger and more important in the society. As we are the private sector, this
problem turns to be our opportunity to operate the business in this market and catch
up the increasing demand in this group of people, and one of the interesting
businesses that can catch up the demand in this group is the nursing home business.
Nowadays, the number of middle class people are also expanding, and they
also have enough purchasing power to pay for this services, together with the
strongly development of technology that make the nursing home business become
more varieties from many companies, more convenient in services and more
innovative in equipment than ever.
However, the increasing number of middle class people that have enough
purchasing power to buy the services for their parents or for themselves, and the
development of technology also consider to be our opportunity to operate the
3
nursing home business, and allows us to grow further according to the trends of
demand. Therefore, operating the nursing home business with high technology,
innovation and affordable price for middle class people to support the megatrend of
aging society, middle class people and technology development are our choice of
business that we choose to operate.
That is why we decide to operate this type of business named “Happy Home”
with high quality of services of our staffs, our expert team of doctors and nurses, our
best suitable location, as well as our high technology systems and equipment that
can lead us to be the leader in nursing home business in the market.
3. Organization Structure
Work flow in organization
4
Organization Structure
To run business the key personnel needed are already shown on the chart
above ,for example Technician will be responsible for handling with maintenance
technical, Accounting officer is another key function which responsibility for
managing the cash, and Nurses , Nursing assistants, Physical therapist will be in
charge of taking care of customers. Mover; experience, education, and specific skills
are needed for those key personnel.
The other personnel needed to make the business run efficiently are
housekeepers, security guards, drivers, Quality control, safety, and environmental
staff and so on.
5
4. Human Resource Management
4.1 Job Analysis & HR Planning
Job Description & Job Specification of 5 positions
 Nurse
 Physical Therapist
 Accounting Officer
 Assistant
 Nurse
 Technical

6
7
8
Compensation and Benefits of all employees in organization
4.2 Recruitment & Selection
4.2.1 Recruitment
From the employees character of our company that
 The positions in this organization is specification which need the certification
of occupation such as nurse or physical therapist hence , internal recruitment
is not appropriate to be the way to recruit.
 There are plenty of candidates in the applicants, which increasing the
opportunity to find the right person to work.
 Hiring the new employee helps the company find experienced and highly-
qualified and skilled candidates.
 Bringing the fresh talent to the company for motivating the current employee
working enthusiastically moreover they always develop treatment program
continuously.
Our company decided to use external recruitment to recruit employees. According
to Molly Gigli (2014), External Recruitment is the process of searching outside of the
9
current employee pool to fill open positions in an organization. That will suitable way
to recruit employees with require the character above.
For the method our company selected method of Advertising through Social Media
according to Sandra Abel(2011), Social recruitment is concerned with sourcing
candidates for jobs via social media channels and social media networks. Our
company choose method of advertising through Social Media, the recruitment will be
posted on job finding website such as LinkedIn, JobThai, etc. or social media website
such as Facebook, Twitter, etc.
because nowadays most of people reach to social media and using social
media every days that allow us to advertise the recruitment with lower cost, fast &
easy way, effective and reach high number of people. But, there are some
disadvantage of this method which are; Time incentive from takes a lot of time and
effort to maintain an interactive social media presence and may generate a flood of
application form unqualified workers if using social media with online recruitment.
10
4.2.2 Selection
11 
4.3 Training & Development
For training and development our organization choose On-the-job training
method .According to Bolotbek O, Dan D, et al, on the job training, person with job
experience and skill guides trainees by apprenticeship method which combines
between classroom training and on the job training. For our company in topics of
medical usage and practice accordingly organization procedure and other topics due
to training assessment. Trainer teaches the trainees and let them answer/do the
practice (work shop) before they going to take an internship or responsibilities in
workplaces.
Why we choose this method?
According to Susan M. Heathfield, because Nurse, Nurse assistant and Physical
therapist are position that need to be trained for always reconfirming their
knowledge in the career, and ensure that every action was done properly and
accurately .This method is the most appropriate since it’s provide training to
acknowledge the necessary knowledge needed to perform job as well as let
employees do the practice through workshop during training. This method also
makes employees apply their knowledge in particular job in organization
circumstance/procedure through training from their senior.
4.4 Performance Management
For method to measuring the performance our organization will use making a
comparison method to compare the performance of each other that what are they
good or bad at. According to Noe et al (2014), Making comparison is compare
one’s performance with that of others. From types of making comparison we
prefer to use paired-comparison method which compare the employee to establish
rankings.
For example, if we compare the employee with paired-comparison method we
will know that who is the best performance and has effective skills in this field. So,
when we select a leader we will choose that person to be a leader who can teach other
person to improve their skill. Moreover we will know that what kind of duty of each
employee properly good at and what skill of each person do well to select the right
person to the right job.
12
4.5 Health, Safety and Ethical Concerns
Health & Safety concern
 Every employee need to follow algorithm in working area.
 Design of work environment to address physiological and psychological
demands on individuals. According to U.S. Department of Labor Occupational
Safety and Health Administration (2000), Ergonomics is the science of
designing the job to fit the worker, rather than physically forcing the
worker’s body to fit the job.
 Health promotion to maintain or improve employee health before problem
occur.
Ethical concern
According to Karen L. Rich (n.d.), Ethics is a systematic approach to
understanding, analyzing, and distinguishing matters of right and wrong, good and
bad, and admirable and deplorable as they relate to the well-being of the
relationships among sentient beings.
 Recruitment new employees based on their ability to do the job not their
gender, racial, disability, age, and religious.
 Concerning ethics seen as consequences; Focus on results of performance
such as employee done the job on time and get positive complain from
customers. He/She will get collecting point to receive the reward in the end of
year.
 Diversity management to set business environment.
 Sexual harassment policy ( Respect the human law, Relation on work is
prohibit, Take any appropriate action to prevent retaliation)
 Set organization’s rules to control people in organization.
13
5. Conclusions
What do you think about business
For the trend of demand that increased significantly among aging society,
nursing home business considers as on type of business that meet the need or
requirement of the customers in this group, and is demanded according to current
trends. Moreover, this type of business is also helpful to accommodate and facilitate
elderly people’ life become easier, more convenient, more safety and more secured
in life, reduce the rate of depression, feel less lonely and less isolated and also useful
to maintain their mental state. Besides, it is very helpful to reduce the burden of care
of their descendants as well. So, this kind of business is very useful in present day
until the future trends.
What are limitation in future
Nursing home business considers as service type business. It means that the
growth of business depends on the customer demands. If demand increases, the
growth of the business will also increase. But if demand decreases, the growth will
decrease as well. Moreover, this type of business can reach just specific group of
customer (elderly people). So, it is the limitation of revenue gains from not various
group of customer and also more risk of loss as well as the risk of business slowdown
according to the demand trends.
What are challenges in future
The major challenge is how to maintain this type of business to be profitable
in long term as well as maintaining the stability of growth to be constant. This involves
with the way we conduct the business and strategy to be used to attract the
customers to use our services and also the strategy to maintain the demand and do
not let the demand diminished. How we always meet the need of customers and
always be the customer’s choice are very difficult to control and manage with
stability.
Suggest how business improve in future
For more growth of our business in the future, we have to turn the elasticity
of demand to be more stable and more constant by catching the customer’s demands
from many ways. From this, we have to adjust our business by adding more services
that serve broader customer group such as life insurance, special care clinic, special
care service for disability, psychiatric clinic and special care services for people with
mental illness, etc. to compensate the demand drop from specific group of customer
14
and make our business more stable from the revenues that received from many ways,
not just only our main business or nursing home to prevent the risk of loss and
business slowdown from declining demand and lacking of profits. Meanwhile, we have
to continue improve and enhance our standard of services, technology and
innovation to be a leader in the market and gain more market share from present to
future with predictable demands. Moreover, one important thing that we have to
always do relentlessly is our research and development that will help us to develop
the business in the right way with profitable and reduce the risk of loss of our
business.
15
References
AMN Healthcare. (2017). Traveling Nurse Salary and Benefits.[Online] Travel Nursing.
Available at:https://www.travelnursing.com/what-is-travel-nursing/traveling-nurse-rn-
salary-benefits-housing// [Accessed 3 Nov.2017]
H.S. Borji. (2016). 4 Global Economic Issues of an Aging Population. [Online] Investopedia.
Available at:http://www.investopedia.com/articles/investing/011216/4-global-
economic-issues-aging-population.asp/ [Accessed 3 Nov.2017]
Mohammad Ali Rana. S. M. Khaled Hossain. (2016). Factors Affecting the Effectiveness of
Social Media for Recruitment. [Online] Research Gate. Available
at:https://www.researchgate.net/publication/309556487_Factors_Affecting_the_
Effectiveness_of_Social_Media_for_Recruitment_An_Exploratory_Factor_Analysis_
Approach_n_Private_Universities_in_Bangladesh [Accessed 3 Nov.2017]
Molly Gigli (2014).External Recruitment: Advantages, Disadvantages & Methods.[Online]
Study. Available at:http://study.com/academy/lesson/external-recruitment-
advantages-disadvantages-methods.html [Accessed 3 Nov.2017]
National Statistical Office. (2014).The 2014 Survey of the older persons in Thailand.[Online ]
National Statistical Office. Available
at:http://service.nso.go.th/nso/nsopublish/themes/files/elderlyworkFullReport57-1.pdf
[Accessed 3 Nov.2017]
Noe, R.Hollenbeck, J.Gerhart, B. Wright, P.(2014). Fundamentals of Human Resource
Management. 5th ed. Singapore: McGraw-Hill.
Tejvan, P.(2016). The impact of an ageing population on the economy.[Online]
Economics help. Available
at:https://www.economicshelp.org/blog/8950/society/impact-ageing-population-
economy/ [Accessed 3 Nov.2017]
U.S. Department of Labor Occupational Safety and Health Administration (2000),
Ergonomics: The Study of Work. [Online] OSHA. Available
https://www.osha.gov/Publications/osha3125.pdf [Accessed 3 Nov.2017]
16

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Human Resources Management - Ma Maison Nursing Home

  • 1.
  • 2. Human resource project Present Aj. Phuping Mano BACHELOR IN AVIATION LOGISTICS BUSINESS MANAGEMENT SCHOOL OF MANAGEMENT MAE FAH LUANG UNIVERSITY ACADEMICS YEAR 2016 ©COPYRIGHT BY MAE FAH LUANG UNIVERSITY Dandao Sukantanak 5731210093 Phatcharaporn Thaviset 5731210146 Phetphailin Yammaneechai 5731210159 Fareeda Budlam 5731210163 Manlika Udta 5731210180 Wisaruta Chaowlaka 5731210201 Wissuta Teerageerayut 5731210202 Ma Maison Nursing Home
  • 3. Preface As a part of the essential guide to human resource and talent management in order to search about planning to manage the nursing home business. The basic behind doing this report is to get knowledge or tools of how to manage the business or people in the organization. In this report we have included executive summary, statement purpose, organization structure, and human resource management. Doing this report helped us to enhance our knowledge regarding the work of how to training or managing people in order to support the organization’s achievement, know how to ensure the worker performance, and know about important of how to work to achieve the goal. Group member                                                 
  • 4. Table of contents Executive Summary ................................................................................................................ 1 Statement of Purpose .......................................................................................................... 1 Organization Structure ........................................................................................................ 4 Work flow in organization ..................................................................................................... 4 Organization structure .......................................................................................................... 5 Human Resource Management Job Analysis & HR Planning .................................................................................................. 6 Recruitment & Selection ........................................................................................................ 9 Recruitment................................................................................................................ 9 Selection .................................................................................................................. 11 Training & Development .................................................................................................... 12 Performance Management ................................................................................................ 12 Health, Safety and Ethical Concerns ................................................................................ 13 Conclusions.......................................................................................................................... 14 References ........................................................................................................................... 16
  • 5. 1. Executive Summary From the problem of aging society increased around 14.9% in Thailand, expanding number of middle class people and strongly development of technology. Our group decided to operate the nursing home business with high technology, innovation and affordable price for middle-class people to support the megatrend of aging society, middle class people and technology development. This report contribute process for human resource management plan of Nursing home business. Methods of analysis include the explanation of job description and job specification for job needed in an organization, the process of recruitment and selection along with interviewing techniques used for selection method. Moreover, in this report also describe about the training method they need to have and develop in order to support organization’s achievement, the process that used to ensure the workers’ performance, and explain the approaches used for compensation and benefits   2. Statement of Purpose In twentieth century period, the life expectancy of people is raising. According to Pettinger (2016), life expectancy in the US has increased from 45 in 1902 to 75.7 in 2004. Even in the past 50 years, life expectancy has risen in most western economies. The figure below shows the trend of life expectancy of people that is increasing every decade in three main countries. 1
  • 6. On the other hand, although the trend of life expectancy is increasing, but the birth rates turn to decline. This will create the anxiety about the impact of an aging population. Pettinger (2016) said that a demographic time bomb and the fear future generations will struggle to meet an ever increasing number of retired workers and pension commitments. The figure below shows the increasing number of population over 65 years. From the information above, it can be said that the number of aging population continue to grow up, and also expanding year by year. This make this group of population become extremely important and more concern for both government and private sectors. H.S. Borji (2016) stated that the populations in places such as North America, Western Europe and Japan aging more rapidly than ever before, policymakers are confronted with several interrelated issues, including a decline in the working-age population, increased health care costs, unsustainable pension commitments and changing demand drivers within the economy Apart from the world’s increasing rate of aging population, the trend of aging population in Thailand is also continued to increase constantly. The National Bureau of Statistics has conducted a survey of the elderly population four times, start from year 1964, 2002, 2007 and in year 2011 has found that the rate of elderly people in Thailand have increased continuously. And last year's survey in 2014 showed that aging society has been increased around 14.9% (Population Statistics Group Social Statistics Bureau, 2014). 2
  • 7. If compared with childhood and working age, it can be clearly seen that the elderly are growing faster than any other age. So, the elderly rate is continued to increase more in the future. The figure below show that the statistic of growing in aging society compare with childhood and working age from year 2010 to year 2040. Foundation for Older Persons' Development, 2015 From the information above shows that in Thailand, the number of aging society continues to increase and it still growing more in the future as well. The problem of higher aging population proportion that leads to more demand in many aspects of services, both public and private sectors need to be involved for managing these demand in the most appropriate way. It shows that the aging group of people become larger and more important in the society. As we are the private sector, this problem turns to be our opportunity to operate the business in this market and catch up the increasing demand in this group of people, and one of the interesting businesses that can catch up the demand in this group is the nursing home business. Nowadays, the number of middle class people are also expanding, and they also have enough purchasing power to pay for this services, together with the strongly development of technology that make the nursing home business become more varieties from many companies, more convenient in services and more innovative in equipment than ever. However, the increasing number of middle class people that have enough purchasing power to buy the services for their parents or for themselves, and the development of technology also consider to be our opportunity to operate the 3
  • 8. nursing home business, and allows us to grow further according to the trends of demand. Therefore, operating the nursing home business with high technology, innovation and affordable price for middle class people to support the megatrend of aging society, middle class people and technology development are our choice of business that we choose to operate. That is why we decide to operate this type of business named “Happy Home” with high quality of services of our staffs, our expert team of doctors and nurses, our best suitable location, as well as our high technology systems and equipment that can lead us to be the leader in nursing home business in the market. 3. Organization Structure Work flow in organization 4
  • 9. Organization Structure To run business the key personnel needed are already shown on the chart above ,for example Technician will be responsible for handling with maintenance technical, Accounting officer is another key function which responsibility for managing the cash, and Nurses , Nursing assistants, Physical therapist will be in charge of taking care of customers. Mover; experience, education, and specific skills are needed for those key personnel. The other personnel needed to make the business run efficiently are housekeepers, security guards, drivers, Quality control, safety, and environmental staff and so on. 5
  • 10. 4. Human Resource Management 4.1 Job Analysis & HR Planning Job Description & Job Specification of 5 positions  Nurse  Physical Therapist  Accounting Officer  Assistant  Nurse  Technical  6
  • 11. 7
  • 12. 8
  • 13. Compensation and Benefits of all employees in organization 4.2 Recruitment & Selection 4.2.1 Recruitment From the employees character of our company that  The positions in this organization is specification which need the certification of occupation such as nurse or physical therapist hence , internal recruitment is not appropriate to be the way to recruit.  There are plenty of candidates in the applicants, which increasing the opportunity to find the right person to work.  Hiring the new employee helps the company find experienced and highly- qualified and skilled candidates.  Bringing the fresh talent to the company for motivating the current employee working enthusiastically moreover they always develop treatment program continuously. Our company decided to use external recruitment to recruit employees. According to Molly Gigli (2014), External Recruitment is the process of searching outside of the 9
  • 14. current employee pool to fill open positions in an organization. That will suitable way to recruit employees with require the character above. For the method our company selected method of Advertising through Social Media according to Sandra Abel(2011), Social recruitment is concerned with sourcing candidates for jobs via social media channels and social media networks. Our company choose method of advertising through Social Media, the recruitment will be posted on job finding website such as LinkedIn, JobThai, etc. or social media website such as Facebook, Twitter, etc. because nowadays most of people reach to social media and using social media every days that allow us to advertise the recruitment with lower cost, fast & easy way, effective and reach high number of people. But, there are some disadvantage of this method which are; Time incentive from takes a lot of time and effort to maintain an interactive social media presence and may generate a flood of application form unqualified workers if using social media with online recruitment. 10
  • 16. 4.3 Training & Development For training and development our organization choose On-the-job training method .According to Bolotbek O, Dan D, et al, on the job training, person with job experience and skill guides trainees by apprenticeship method which combines between classroom training and on the job training. For our company in topics of medical usage and practice accordingly organization procedure and other topics due to training assessment. Trainer teaches the trainees and let them answer/do the practice (work shop) before they going to take an internship or responsibilities in workplaces. Why we choose this method? According to Susan M. Heathfield, because Nurse, Nurse assistant and Physical therapist are position that need to be trained for always reconfirming their knowledge in the career, and ensure that every action was done properly and accurately .This method is the most appropriate since it’s provide training to acknowledge the necessary knowledge needed to perform job as well as let employees do the practice through workshop during training. This method also makes employees apply their knowledge in particular job in organization circumstance/procedure through training from their senior. 4.4 Performance Management For method to measuring the performance our organization will use making a comparison method to compare the performance of each other that what are they good or bad at. According to Noe et al (2014), Making comparison is compare one’s performance with that of others. From types of making comparison we prefer to use paired-comparison method which compare the employee to establish rankings. For example, if we compare the employee with paired-comparison method we will know that who is the best performance and has effective skills in this field. So, when we select a leader we will choose that person to be a leader who can teach other person to improve their skill. Moreover we will know that what kind of duty of each employee properly good at and what skill of each person do well to select the right person to the right job. 12
  • 17. 4.5 Health, Safety and Ethical Concerns Health & Safety concern  Every employee need to follow algorithm in working area.  Design of work environment to address physiological and psychological demands on individuals. According to U.S. Department of Labor Occupational Safety and Health Administration (2000), Ergonomics is the science of designing the job to fit the worker, rather than physically forcing the worker’s body to fit the job.  Health promotion to maintain or improve employee health before problem occur. Ethical concern According to Karen L. Rich (n.d.), Ethics is a systematic approach to understanding, analyzing, and distinguishing matters of right and wrong, good and bad, and admirable and deplorable as they relate to the well-being of the relationships among sentient beings.  Recruitment new employees based on their ability to do the job not their gender, racial, disability, age, and religious.  Concerning ethics seen as consequences; Focus on results of performance such as employee done the job on time and get positive complain from customers. He/She will get collecting point to receive the reward in the end of year.  Diversity management to set business environment.  Sexual harassment policy ( Respect the human law, Relation on work is prohibit, Take any appropriate action to prevent retaliation)  Set organization’s rules to control people in organization. 13
  • 18. 5. Conclusions What do you think about business For the trend of demand that increased significantly among aging society, nursing home business considers as on type of business that meet the need or requirement of the customers in this group, and is demanded according to current trends. Moreover, this type of business is also helpful to accommodate and facilitate elderly people’ life become easier, more convenient, more safety and more secured in life, reduce the rate of depression, feel less lonely and less isolated and also useful to maintain their mental state. Besides, it is very helpful to reduce the burden of care of their descendants as well. So, this kind of business is very useful in present day until the future trends. What are limitation in future Nursing home business considers as service type business. It means that the growth of business depends on the customer demands. If demand increases, the growth of the business will also increase. But if demand decreases, the growth will decrease as well. Moreover, this type of business can reach just specific group of customer (elderly people). So, it is the limitation of revenue gains from not various group of customer and also more risk of loss as well as the risk of business slowdown according to the demand trends. What are challenges in future The major challenge is how to maintain this type of business to be profitable in long term as well as maintaining the stability of growth to be constant. This involves with the way we conduct the business and strategy to be used to attract the customers to use our services and also the strategy to maintain the demand and do not let the demand diminished. How we always meet the need of customers and always be the customer’s choice are very difficult to control and manage with stability. Suggest how business improve in future For more growth of our business in the future, we have to turn the elasticity of demand to be more stable and more constant by catching the customer’s demands from many ways. From this, we have to adjust our business by adding more services that serve broader customer group such as life insurance, special care clinic, special care service for disability, psychiatric clinic and special care services for people with mental illness, etc. to compensate the demand drop from specific group of customer 14
  • 19. and make our business more stable from the revenues that received from many ways, not just only our main business or nursing home to prevent the risk of loss and business slowdown from declining demand and lacking of profits. Meanwhile, we have to continue improve and enhance our standard of services, technology and innovation to be a leader in the market and gain more market share from present to future with predictable demands. Moreover, one important thing that we have to always do relentlessly is our research and development that will help us to develop the business in the right way with profitable and reduce the risk of loss of our business. 15
  • 20. References AMN Healthcare. (2017). Traveling Nurse Salary and Benefits.[Online] Travel Nursing. Available at:https://www.travelnursing.com/what-is-travel-nursing/traveling-nurse-rn- salary-benefits-housing// [Accessed 3 Nov.2017] H.S. Borji. (2016). 4 Global Economic Issues of an Aging Population. [Online] Investopedia. Available at:http://www.investopedia.com/articles/investing/011216/4-global- economic-issues-aging-population.asp/ [Accessed 3 Nov.2017] Mohammad Ali Rana. S. M. Khaled Hossain. (2016). Factors Affecting the Effectiveness of Social Media for Recruitment. [Online] Research Gate. Available at:https://www.researchgate.net/publication/309556487_Factors_Affecting_the_ Effectiveness_of_Social_Media_for_Recruitment_An_Exploratory_Factor_Analysis_ Approach_n_Private_Universities_in_Bangladesh [Accessed 3 Nov.2017] Molly Gigli (2014).External Recruitment: Advantages, Disadvantages & Methods.[Online] Study. Available at:http://study.com/academy/lesson/external-recruitment- advantages-disadvantages-methods.html [Accessed 3 Nov.2017] National Statistical Office. (2014).The 2014 Survey of the older persons in Thailand.[Online ] National Statistical Office. Available at:http://service.nso.go.th/nso/nsopublish/themes/files/elderlyworkFullReport57-1.pdf [Accessed 3 Nov.2017] Noe, R.Hollenbeck, J.Gerhart, B. Wright, P.(2014). Fundamentals of Human Resource Management. 5th ed. Singapore: McGraw-Hill. Tejvan, P.(2016). The impact of an ageing population on the economy.[Online] Economics help. Available at:https://www.economicshelp.org/blog/8950/society/impact-ageing-population- economy/ [Accessed 3 Nov.2017] U.S. Department of Labor Occupational Safety and Health Administration (2000), Ergonomics: The Study of Work. [Online] OSHA. Available https://www.osha.gov/Publications/osha3125.pdf [Accessed 3 Nov.2017] 16