• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Analysis of how relevant labour market trends relate to the ongoing human resources planning of Marks & Spencer

Extracts from this document...

Introduction

Analysis of how relevant labour market trends relate to the ongoing human resources planning of Marks & Spencer When analysing the information of the labour market statistics, it is noticeable that M&S have explored national and local labour markets in relation to its workforce, which can be used in the nearest future. The relevant labour market trends are very important in human resources planning; because Marks & Spencer have to plan how they go on to conduct new recruitments, hiring the right people suitable in the labour market. The main initiative of Marks and Spencer using labour market statistics is to plan ahead of their current competitors and rivals. Therefore the Human resources will be able to forecast and carry out projections of its future staffing needs. By carrying out this, Marks and Spencer can develop the right strategies for recruitment, training and development of its employees. They use labour market trends, such as external labour market that show the amount of vacancies in a job centres, if they can see if they are able to plan to recruit. By looking at the availability of skills, Marks & Spencer can predict whether their future plans to employ certain number of people with certain skills can be attained, depending on the availability of workforce. ...read more.

Middle

A skills questionnaire may also be of help to the Human Resource Department to identify possible mentors and to plan training events if skills shortages are identified. This information is of use to the Human Resource Department when deciding whether to advertise internally. (Unfortunately it was not possible to gain a skills questionnaire from Marks and Spencer). Statistics and information would be collected on employees already within Marks and Spencer, which would cover the following areas: * The number of employees in particular job categories * The skills available * Skills analysis * Performance results * Promotion potential * Age distribution and length of service * Staff turnover The number of employees in particular job categories This figure will give a broad overview of the numbers in M&S who already possess certain broad category skills, for instance in a Premier division football team this could be the number of strikers, midfielders, defenders or goalkeepers. Or it could identify those who already have Premier division experience and those who are novices at that level. The skills available It may be helpful to identify the current skills held by the labour force and see how many of these are transferable (a skill used in one particular job may be transferable to another job). ...read more.

Conclusion

Too high a level of staff turnover will mean that there will be high additional costs of staff replacement and recruitment, additional training costs and disruption to the quality of service or to production. Conclusion In conclusion I have found out the importance of analysis of labour market and its effect on HR planning. The employees are M&S biggest investment, they are the main aspect of driving the business forward, they are the closes people to costumers, they are the minds of business and therefore the biggest assets of the organisation. It effects the HR planning effectively because their responsibility is to recruit the right employees, keeping the cost to the minimum. Therefore the labour market information provides them with vital information which affects their plans of recruitment. However I have also realised that it isn't only the current recruitment which benefits from the labour market information, it is also used for future prediction. HR planning must predict their employment situation in future periods, in order to prevent any errors with the availability of skills and employment. ?? ?? ?? ?? Unit 4 Omid Ashrafi 15-A1 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE People in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE People in Business essays

  1. Managing Human Resources in Marks & Spencer.

    for supervisors - and hence there will be a cut in wage costs. With the reduction in middle managers there has been a shift in power, a disempowerment from the Human Resources professionals to the line managers. Policy related issues will go to directors, but the team leaders of autonomous work groups may take day-to-day decisions.

  2. This is a report on Marks and Spencer a well known retail company in ...

    This applies to any action that damages the company image. Objective 5: Profit Maximisation Profits are maximised when the difference between sales revenue and total costs is at its greatest. Some firms seek to earn the greatest possible profits to satisfy their shareholders desire for high dividends.

  1. HRM in Marks and Spencer

    responsibility Individual's responsibility to improve employability Consequently, employee's job descriptions might be broadened and their psychological contract will shift correspondingly. Evidence suggests that these changes represented a threat to the reciprocal nature of the psychological contract with consequences for both employees and employers.

  2. Analyze and evaluate the strategic decisions made by Marks and Spencer (M&S) in different ...

    � forming hypotheses � testing alternatives � implementing a chosen alternative � controlling and reviewing the situation Long term decisions are made by senior management and tend to be in force for a considerable length of time i.e. several years.

  1. So how do Sainsburys plan? Sainsburys Human Resource department analyses the future of the ...

    In house courses 2. External courses 3. Vocational and professional courses. Both of these styles of training have their advantages and disadvantages. Such as on the job training is a lot cheaper and productive for the company because the trainee is essentially working for them as well as gaining knowledge and training.

  2. Human Resources at John Lewis use labour market information to help them with there ...

    Accident rates are recorded by the company, John Lewis has a health and safety committee which whom are responsible to ensure accident records are kept at work. Statistics are held by the company to be collected so that they can look at trends and set out to stop them from reoccurring.

  1. Career planning at Ikea

    The objective was to make managers more independent, flexible and innovative in the way they work, think, and make decisions. Self managed learning is a part pf career planning since this program increases co-worker's awareness about possibilities and requirements. "Managers diagnose their individual learning needs, specify their own development goals

  2. 1. explore the process of recruitment planning

    Hours of sickness/absence x 100 Total hours worked Therefore if the sickness rates were worked out for a full time Boots staff member for a year they would look like this - 80 x 100 2000 = 4% sickness rate which is really low and good for the business.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work