Question
Analyse and evaluate the major features of national and international employment markets and identify the ways in which these markets evolve or change over time. Refer to any academic sources which you are familiar with to answer the question.
Solution
Table of Contents
2.0 Features of the National and international employment markets. 4
2.4 Customer Expectations Change. 6
2.5 Social and demographic change. 6
3.0 How the Markets evolve over time. 7
Executive Summary
The assessment evaluates the significant features of national and international employment markets and how these markets evolve or change over time. It has been established that the critical features of these markets include globalization, technology advancement, privatization, customer expectations change and, social and demographic changes. Also, it has been noted that the implications of the identified features would include varying employment markets, changing demands and supplies for skills, employment market competitors, and social demographic trends. The current COVID-19 pandemic has equally been noted to have an impact on the UK employment markets today and in the future. The impact of these changes on employment markets in the UK and internationally would be varying considerably over time and across distinct employment categories.
1.0 Introduction
In the contemporary labour markets, their characteristics vary over time and across distinct forms of employment opportunities. According to CIPD (2018), the relevance of understanding the employment markets by an HR practitioner enhances their strategic practices on resourcing, setting competitive remuneration, and sourcing skilled personnel. The diversities in the national and international employment markets are influenced by the available occupations identified by labour demand outpacing supply and tight labour markets influenced by existing economic conditions. Alternatively, the labour market can be loose, with vacancies being easy and cheap to fill promptly. It is these factors that further determine the employee’s remuneration, ability to leverage globalization, embrace of technology, and customers services delivery and expectations. Also, the different features identify the extent to which HR departments. Based on this background, this assessment focuses on evaluating the major features of national and international employment markets and the extent to which they evolve.
2.0 Features of the National and international employment markets
2.1 Globalization
Globalization implies that the supply chains of organisations are globalized. CIPD (2019) report note that the labour markets are increasingly becoming international orchestrated by many people migrating for work and non-work related reasons. From a global perspective, as a consequence of globalization, there has been an increased pool of skilled labour that employers could draw from. For example, Asia produces a large number of science and engineering graduates as opposed to UK, the US, and Europe combined. Despite this disparity, many Asian scientists end up working in European countries and UK. For instance in UK, it is estimated that the UK labour market receives 180,000 international migrants, 130,000 inward migrants into the UK labour force (GLAeconomics, 2013). Considering UK and international labour market demands, GLAeconomics (2019) report point out that jobs providing the global market with goods and services are faced by a significant risk of off-shoring or being lost as a consequence of employment markets competitors. This is since such jobs are easily reproduced through automation or through generating codes and being passed to others with limited or no facial contact, whether global or local.
2.2 Technology advancement
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