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/Answer
The management of human resources in any organisation does not take place in a vacuum, and its content and form (methods and procedures) are affected by various internal and external factors. One of the external factors, which causes a substantial concern, is the socio-demographic environment of the company. The last 2–3 decades have witnessed considerable shifts in the social and demographic environments. They have transformed the labour markets in many countries.
Along with the transformation of labour market, human resource management is going through the phase of revaluation of its own activities, objectives, and is considering the survival dilemma. Therefore, the present situation requires human resource departments to act in a more mature manner, to develop the necessary competences of the specialists.
The issues of competence classification and methods of its assessment have drawn the attention of researchers in various fields.
1. The key factors transforming labour markets
In order to find out the issues the human resources departments are expected to face in the future, it is necessary to analyse the factors that transform labour markets in various countries. Some authors (Morris, 2004; Kalleberg, 2006; Wilton, 2010) single out the following five key factors:
- Changes in the composition of economically active population.
- The demographic situation.
- Fluctuations in the rate of unemployment.
- Legal restrictions.
- The changing requirements for skill.
Conditions in the UK labour market overall vary depending on the position of the economy, the number of people with the skills that people are looking for and levels of unemployment. The years following the end of the 1989–92 recession saw a steady, year-on-year tightening of labour markets in the UK as unemployment fell to the lowest levels for a generation. Economic confidence grew………………………………………………………………………………………………………………………………………….Please contact us to receive guidance, support and tutorial services on this assessment in full based on your organisation background and country of preference
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