(Solution) CIPD 5HR02 how organisations strategically position themselves in competitive labour markets. (AC 1.1)

A competitive labour market is a market where employers are competing for available top talent. In order to attract and retain top talents, BMG need to position itself theory competitive analysis, employer of choice and employer branding.

Competitive analysis

Competitor analysis is about carrying out an analysis of workplace characteristics such as pay and benefits, flexible working, employment contract, work-life balance and working conditions offered by competitors. BMG can rely on this data to create differentiated resourcing and people management strategies.

Employer of choice

An employer of choice is a workplace where employees what to stay (Barsoum and Abdalla, 2022). What BMG needs to do is to understand what employees want and implement strategies to meet these needs. They feel happy and satisfied with their work. CIPD Good Work Index provides dimensions in which BMG can become an employer of choice. These includes work-life balance, better pay and benefits, employment contract, job security, employee voice and better health and wellbeing.

Employer branding

Employer branding is the image that BMG has in the minds of Job seekers. A good employer brand at BMG can be achieved through a focus on diversity and inclusion, positive working relationships, employee value proposition and communicating vision and mission (Ahmad et al., 2022). The hiring process should be inclusive, craft fair policies and consider offering rewards that motivate employees.