Industry Specific Labour Market Report-Free-Samples for Students

Question: Discuss about the Industry specific labour market report. Answer: Introduction Retail industry is one of the Australias major economy driving sources and employs maximum number of people in comparison with other Australian industries. There is a strong relationship between the labour market factors and the human resource planning. In the business organisations there is a vital role of human resource planning as it helps in determining the total human resources required for the accomplishment of the strategic goals. It is the process of making ensure that there is effective identification of the human resource requirements as well as adequate plans is developed for the satisfaction of those requirements. Organisation whether in private or public sector, irrespective of their strategy or size, operates in uncertain labour market environment (Cesynien, Diskien and Stankevicien, 2013). Each and every business organisation requires labour to function. There are several labour market issues which are faced by the retail sector of Australia such as demographic and geo graphic issues, public policy related issues, economic issues and diversity issues. Human resource planning helps in dealing with all such issues through effective strategies. The paper will discuss the present situation of retail sector of Australia, the labour market factors and various issues associated with the retail industry labour market of Australia. The next part of the paper will present the link between the human resource planning and the labour market issues by offering several recommendations to manage the issues in an effective manner. Changing Labour Market in retail sector There are several changes which have taken place in the retail sector labour market in past few decades which have resulted in number of issues such as inequality, unemployment and key policy interventions. Geographic and Demographic related labour market issues Regional Unemployment One of the biggest labour market factors which impact the retail sector of Australia is the regional unemployment. Regional employment can be understand as that there are several regions which have high unemployment rate whereas on the other hand thee are also regions which possess low unemployment rate. Such kind of regional differences impact the supply of labour in the retail sector (Vaitilingam, 2006). There are business organisations, retail industries which require high number of employees but due to regional differences, there is not efficient supply of the workers. Thus, it impacts the functioning of retail sector. Public policy related labour market issues Education and training In recent times, there has been an increasing issue of shortage of qualified employees which also results in as a barricade for the economic development of the industry as well as the nation. In Australia, the labour force qualifications are not in correspondence with the demand of the market (McGowan and Andrews, 2015). Thus, it resulted in low professional mobility as well as structural unemployment. Therefore, the system of professional orienteering comprises of a number of flaws. in maximum of the retail sector organisations, there is very less investment dome on the training if the employees and thus the quality of the training offered is not effective as well as inadequate in nature (MWANGI, 2009). The Australian labour market is becoming increasing unattractive and also more contradictory. In the human resource planning of the business organisations, the human resource managers requires to identify the trends of the labour market and also search for the various modern and cont emporary ways of human resource management. To take such decisions, there is a need to possess appropriate competence as well as a contemporary approach to the content of the human resource management function (Industry, 2011). Labour mobility (Source: DArcy, et al., 2012) The next key major factor of the labour market is the labour mobility and is considered as one of the biggest issue impacting the retail sector and the human resource planning of the retail industries. In respect with labour mobility in Australia, it has been encountered that there has been a growth in the employment in Western Australia and Queensland in comparison with other regions like New South Wales and Victoria. The employment growth is a bit slower in major regions other than the Northern Territory. It has a direct impact on the retail sector as the industries which have been established in such areas where there is less employment growth; there are issues in respect with recruitment of the labour. There are high immigration rates and increase flow if labour in these two particular states of Australia i.e. Queensland and Western Australia. The workers are more reliant on the employment opportunities offered in these states and thus there is high net outward immigration from t he states of Victoria and New South Wales (DArcy, et al., 2012). Immigration and legal policies In the recent decades, there are several laws, regulations and policies adopted by Australian retail sector in respect with the labour market which regulates the labour associations and also protect the workers from the various discriminations. There are employment trends, litigation trends; Federal Fair Act, The Fair Work Act, etc. are various laws and policies which govern the labour market and employment of the retail sector of Australia. Due to the immigration laws and regulation, there are immigrant workers who are unskilled immigrants and came to Australia for employment opportunities (Flannigan, 2011). The increased rate of immigrant workers and the huge supply of the unskilled immigrant workers make difficult for the industries in respect with employment of the workers. The policies in respect with the labour mobility, education and immigration highly impact the demand and supply of the labour in the retail sector (Cesynien, Diskien and Stankevicien, 2013). In last few years, Australia is recognized as one of the nations which are incredibly famous destination for the skilled migrants i.e. approximately with 128,500 regions available in the year 2015-2016 as per the General Skilled Migration program of the country (Workpermit, 2018). The immigrant workers may get a permanent visa if they pass the immigration requirements such as language ability, work experience and qualification. If they are not eligible on these requirements then the companies cannot permanently employ these immigrant workers. Thus, there is a need that the workers must be compiled by all these regulations and policies (Baum, Mitchell and Bill, 2007). Workforce Diversity Labour Market Issues (Source: Richardson, 2003) The labour market is also highly impacted by one of the key factor i.e. the workforce diversity. Workforce diversity can be explained as the differences in the workforce of the industrial labour on the basis of various factors. In case of Australia, there are high workforce diversity issues which impact the business functioning and human resource planning. In maximum or say in five out of six major business corporations, there has been appointed a male candidate as the senior or the executive positions of the company (Bailey, et al., 2015). But from the other perspective, it has also been identified that there are increased number of involvement and employment of the female individuals. In comparison with the male employees in the retail sector, there is greater participation of the female workers but at the junior positions (Cesynien, Diskien and Stankevicien, 2013). This is a current trend in the organisations which directly influence the labour market of the retail sector. Other t han the gender diversity in eth Australian labour market, there are also workforce diversity related issue in respect with the age differences, cultural and language differences. Due to globalization and the lucrative nature of the retail sector of Australia, there is huge supply of labour in the Australian regions and this also occur as one of eth major reason behind increasing workforce diversity (Baum, Bill and Mitchell, 2008). Recommendations With the change in labour market trends and the rules and regulation, there are also certain kind of imbalances and structural changes taking place in the labour market of retail sector of Australia. These changes are conditioned by the discordance of the qualitative and the quantitative features of the labour supply and demand in the retail sector. All these labour market trends and issues create a negative impact upon the human resource planning. Through these about market issues, human resource planning is required to evaluate the various compliances with the effectiveness of labour supply and demand and it is essential to include various characteristics of the labour market (Lawson and Dwyer, 2002). Many a times, it is recommended that the human resource planning must be preferred in accordance with the aspects of working conditions, training and remuneration to fetch the attention of the potential candidates. These aspects also help in motivating the labour to avoid turnover. In addition, there must also be implemented a structural policy which should be included in the human resource planning so that there can be minimization of the various structural issues of the labour market, increase the labour efficiency and also decline the shortage of the labour (Cesynien, Diskien and Stankevicien, 2013). There may be a plan to develop modifications of the human resource preparation to the labour demand structure. It will lead to higher quality of education and training to the labour at every level. The issue of unskilled labour will be reduced when adequate training would be offered to the employees (Tooksoon, 2011). To maintain the overall employment growth, human resource planning play a vital role in the management of the labour, recruitment of right labour for right job. For sustaining and managing the labor market issue of labour mobility, it is recommended that there must be effective strategies used by the retail industries which are situated especially in the New South Wales and Victoria to attract the labour (Bisin, et al., 2011). The companies must offer perks and higher wages to the labour so that the labour can be retained in those regions and do not mobilize to other areas. To manage the issue of workforce diversity, it is essential that the retail sector organisations must offer appropriate training to the employees and also develop coordination among the benefits of the labour (May, Peetz and Strachan, 2013). It is essential to have cultural trainings, diversity related training as a part of the human resource planning so that higher level of balance can be developed among the dive rse workforce. It is also recommended to organize training system in the human resource planning which requires the skills development for preventing the mismatch between the demand and the supply of the labour (Batt and Colvin, 2011). Conclusion The labour market of retail sector of Australia is extremely unpredictable as well as fluid, shaped by a number of legal, demographic, social and economic factors. The modifications in the labour market impact the organisational approach taken for the human resource planning, specifically to its strategic role. All such situations need human resource departments to have effective reevaluation of their own objectives and activities for acting in a more effective manner. The recent and current trends in the labour market emphasis the human resource managers to not only perform the human resource management operations of training and development and recruitment but also to perform the strategic management and strategic planning, change management, organisational designing and development of team work skills. The human resource planning function requires developing the ability of the human resource managers to manage the labour market issues. The paper has concluded that in the retail se ctor of Australia, the labour market is at a risk and there is a need to manage the various labour market issues. the recommendations offered must be followed and must be implement in the business functions of the retail industries so that there can be effective balance between the supply and demand of the labour market. References Bailey, J., Price, R., Pyman, A. and Parker, J., 2015. 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