Labour Market Context - 11897 Words

4 The Labour Market Context of HRM Chapter Objectives †¢ To define internal and external labour markets †¢ To outline the role of HRM as the interface between an organisation and its labour markets †¢ To identify the changing labour market conditions under which contemporary organisations operate †¢ To critically evaluate the implications for HRM of the ‘knowledge economy’ †¢ To outline how labour market trends are impacting upon how organisations utilise labour and how HRM practices are driving labour market change †¢ To outline the various ways that firms can respond to different labour market conditions †¢ To outline the notion of organisational flexibility and how various forms of flexible working practices impact†¦show more content†¦The latter 90 04-Wilton-4081-CH-04.indd 90 HRM IN CONTEXT 25/08/2010 7:10:18 PM refers to a strategy of recruiting required labour from outside the firm as and when needed. A ‘make’ strategy is, therefore, internally-focused whilst a ‘buy’ strategy is externally-focused. The internal labour market The internal labour market refers to that which exists within a single organisation and represents its internal supply or stock of labour. In its broadest sense, the internal labour market is the mechanism by which existing employees are attributed particular roles within a firm. The specific characteristics of an organisation’s internal labour market are reflective of a number of HR policy emphases, for example, the level of investment in employee training and development, the availability of career development opportunities and the extent to which employee retention and job security are prioritised. Contextual factors, particularly the types of skills, knowledge and attributes required, also act to shape the ‘type’ of internal labour market that exists within a firm. Depending on its characteristics, an internal labour market can fulfil a number of functions for an organisation. For example, in seeking to retain employees the internal labour market can act as a source of motivation and contribute to aShow MoreRelatedThe Liberal State Essay1454 Words   |  6 Pagescontrol over labour than ever before. The thought of the neo-liberal state as one that is more disengaged in its political economy functioning is a lost one. The neo-liberal state has demonstrated expanding duality, prompting inaction in specific zones, (for example, sanctioning of social security for the workforce), and while at the same time facilitating capital so as to exhibit deliberate efforts in different areas. This perspective is unmistakable from the prevailing talk on labour legislationRead MoreAmerica, Europe And Asia Are Governed By Different Employment Laws And Policies1645 Words   |  7 PagesFirstly, one must note that the USA, Europe and Asia are governed by different employment laws and policies. These regulate the extent to which working-time flexibility can be accounted for or constrained. Thus, these institutional contexts can either allow employers to impose flexible time, and employees to request it; or it might constrain both parties’ ability, such that fixed shifts and minimum hours must be followed in a pre-determined manner (Sousa-Poza and Henneberger, 2002). Unlike, the Anglo-USRead MoreThe Impact Of Labour Flexibility On The International Management Of Human Resources1741 Words   |  7 Pagesimplications of labour flexibility on the international management of Human Resources. Introduction In order to sustain in the business market and meet the consumer demands, the organizations and the employers of 21st century are required to come up with new methods and unbeatable prices of products and services. Moreover due to the emergence of globalisation, these organizations are bound to apply cost-cutting approach (lower wage approach), which influences the shifts in workforce composition, labour utilizationRead MoreThe World Is Changing And The Environment2069 Words   |  9 Pagesorder to sustain in the business market and meet the consumer demands, the organizations and the employers are required to come up with new methods and unbeatable prices of products. Moreover due to the emergence of globalisation, these organizations are bound to apply cost-cutting approach (lower wage approach), which influences the shifts in workforce composition, labour utilization and labour demand. (Rani, 2000) This shift leads to what can be defined as ‘labour flexibility’. Acco rding to StandingRead MoreA Report On The Housekeeping Department1674 Words   |  7 PagesIntroduction Housekeeping department is an important part of each hotel, which related to the hotel reputation and quality of services. There is a high labour intensive in the hospitality sector. The housekeeping department has a high demand of the room attendant. This research will conduct with the personal housekeeping experience in Meriton Serviced apartments. The Meriton serviced apartments are belong to the Meriton group, which is the largest and leading residential developer in AustraliaRead MoreGlobalization and Industrial Relation: Quite Entry of Labour Standard1892 Words   |  8 PagesENTRY OF LABOUR STANDARD * M.VENKATALAKSHMI **S.KRISHNAKUMARI ABSTRACT To understand the range of Industrial Relation challenge that employers and their organizations are likely to face in Asia and pacific during the next decade, it is necessary to appreciate the current as well as historical factors which have shaped and are sharpening such relations in the region. The early ministerial of WTO invariably found the west demanding core labour standardsRead MoreHuman Resource Management: Flexible Labour2153 Words   |  9 Pagescurrent human resources management thinking, providing justification for recent developments in more flexible and variable working patterns. Its need arises from the following: The changing business environment- highly competitive global product markets, an increasingly rapid advancements in Information and Communication Technology (ICT) and increasing capital intensity of production. A changing social environment– for example, the increasing female participation ratio and the trend towards earlyRead MoreChild Labour in Bangladesh Industry9607 Words   |  39 Pagesshowing all the negative factors of the industrialization. Among those the child labour problem is the worst of its kind. Though In Bangladesh the unemployment rate is about 6.2 corer but in the labour force the child labour is very alarming. 8 % of children (5-14 years) in child labour (1999-2003) 10% of male children (5-14 years) in child labour (1999-2003) 5% of female children (5-14 years) in child labour (1999-2003) These are the situation according to UNICEF about the child labor positionRead MoreLabour Market Need 1234 Words   |  5 Pagesthese outcomes is a labour market need for migrant workers to fill jobs that indigenous workers reject (Fellini et al., 2007; Massey et al., 1998; Piore, 1979). However, this is not a spontaneous process and it is important to recognize the role played by labour market actors, particularly employers (or their agents) and the state (Bach, 2007; Rodriguez, 2004). Employers engage in active recruitment strategies to attract immigrant workers already in national labour markets or to recruit directlyRead MoreThe World Organizational And Industrial System Essay1701 Words   |  7 Pagesassociations which transformed in Labour Unions today with a view to stand as a body to serve as intermediary and examining body between workers relationship with organization. This paper therefore, takes a look at Labour Unions as industrial body mostly related to workers, with a view to conceptualize as a body; take an historical overview of the Labour Union, the significance of Labour Unions and critical examination of achievement of the body in the industrial context and challenges being encountered