Question:
Taking into account the case study you have examined, please produce your views on the following issues:
1. What labour market trends might make it hard for the company to recruit and retain the staff they need? What developments might change the situation? (1.1)
2. Explain the significance of ‘tight’ and ‘loose’ labour markets. (1.3)
3. Recommend two differing approaches that could be taken in the short term as a means of improving the organisation’s ability to retain staff effectively. (3.2)
4. Suggest reasons why people might choose to leave their organisation, and explain the direct and indirect costs associated with this? (3.1)
5. Explain how the organisation might position itself strategically within the labour market and the implications of this. (1.2)
6. How might government, employers in general and trade unions (in a general sense) ensure that future skill needs are met? (1.4)
7. What steps should they take to ensure that future skills needs are met? To what extent and how might career and succession planning feature in the organisation’s strategy? (2.2)
Draw on examples you have read, or know about, when responding and take care to justify your answers.
Please also comment on how you will transfer the new knowledge and skills gained during this assignment into working practices. You may also use this reflection for your CPD.
You should also include 3-5 references from up to date and relevant sources in order to support your findings. This assignment must be submitted through Online Services.
Solution
What labour market trends might make it hard for the company to recruit and retain the staff they need? What developments might change the situation? (1.1)
To understand the labour market trends and their influence in making it hard for a company in making recruitment and retaining the needed staff, it is relevant to focus on UK and UAE jurisdictions.
In the UK, it is currently characterized by a gradual increase in the number of qualified employees with the required prerequisite qualifications to occupy different positions. This means that the companies must be confident of recruitment of staff. In 2017, the number of uneducated citizens was significantly lower than the educated. This is explicitly informed by the higher number of younger workers possessing higher average levels of education contrary to the elderly employees who have not yet leveraged in different occupations matching the education levels. Since all these factors positively influence recruitment and staff retained, one of the trends could change the phenomenon. This is the Brexit policy in UK where there have been multiple uncertainties on the employers and UK with the sectors dependent on the non-UK skills which include the hospitality and retail which face the highest levels of talent challenges. In regard to payments, the country has a federal government organisation policies which regulate the employee remuneration. In UAE on the other hand, the market is extensively competitively challenging for employers to attract and retain UAE nationals. The changing policies affecting the remunerations, new joiners in the market industry who are compensated with 7% lower than the market average. This phenomenon change is an indicator that the entities will end up leveraging on the opportunity of hiring candidates at the appropriate asking rates in most of the sectors.
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