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

How does external labour market information help to plan human resources within the business?

Extracts from this document...

Introduction

How does external labour market information help to plan human resources within the business? Firstly I think I need to explain what the external labour market is before I explain how it helps to plan human resources. Basically External Labour Market is made up of potential employees who have the skills and experience required at a particular time. These employees are usually found to be locally, regionally or nationally. There are a range of factors that affect the size and nature of these labour markets. There are a few things to analyse when looking at the supply of labour in the market: * Trends in the size/characteristics of the working population * Competition for labour * The overall level of economic activity * Education and training opportunities * The effect of government policies When looking at this information you have to look at key figures. ...read more.

Middle

There is lots of competition when it comes to employing specific highly skilled staff, I mean it obvious. Wouldn't you like the best of the best when going up against some major company? Employers are continually seeking to offer attractive work packages to ICT graduates in order to attract the best recruits away from the rival companies. This is because ICT in a job nowadays is very essential to modern business due to the growing technological advancements. The economic activity is shown to be quite an important factor when looking at the human resource planning. When looking at the economy you must look at the rise and fall of the economy. These factors help to determine the level of demand for goods and services in the economy and for the employees. ...read more.

Conclusion

Not everyone goes in these courses to achieve these skills. The HR looks for the people that do. There has been a rise in the number of young people attending these courses which to the HR is a plus. The reason there are more opportunities is that young people appreciate that company employer's look for "skilled workers" in order to compete with rival companies. Government policies can affect the labour market in many ways. The government supplies incentives to businesses that train and employ people. When companies are enticed into training people the government will reduce the costs of labour and thus have insinuation towards the HR planning. In recent years the government has also brought out new courses such as AVCE (Advanced Vocational Certificates in Education) and NVQs (Vocational Qualifications) these have led to an increased number of people having the right sorts of skills for the right sort of career choice. ...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.

    and other factors. Human Resource Planning (H.R.P) is the process of forecasting the workforce requirements of the business for future years. It looks at how many employees that Marks and Spencer will require in the future, as well as the type of employee that will be required (e.g.

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

    However HR then look at whether absences are due to sickness or are unauthorised. We then use this information and identify any problems and make a change. We can also use it to compare it to previous years and see whether there are any patterns.

  1. Free essay

    business plan

    The reason is quite simple--many businesses fail, not because they are unprofitable, but because they ultimately become bankrupt (i.e., are unable to pay their debts as they fall due). While the break-even point--where total revenue equals total costs--is a highly important figure for start-ups, once a business is up and running profitably, it becomes less important.

  2. Business Plan

    One example of their competition is the making of the green exit signs that are placed above doors; these used to be moulded by Tatham but now are moulded in China. Other competition include other plastic companies in the area which might take work away from Tatham and sheltered operation factories that would pay their workers much less.

  1. how HRM orperate within any oraganisation

    4.5 Processes involved in HRP In HRP there are four stages involved. They are: 4.5.1 Stock taking This allows the business to find out if quality and quantity of an employee is available to the organisation. It uses the following techniques to find out: * Jobs analysis - this means

  2. Knowledge of the responsibilities covered by the human resources function with in the business, ...

    The labour market information that Shipley College uses is the Association of Colleges in conjunction with the Learning Skills Council research. This sets the programmes Shipley College initiates. The information researched to compare with Shipley College's use of labour market information was the Learning Schools Council briefing and Association of Colleges briefing for 2003.

  1. you want to open a new business which is a nail and beauty salon. ...

    The information you get is instant and is up-to-date. By using these methods the information was new and it's specific to the product you are researching. There are many methods that I could have used apart from questionnaires and visiting a similar business such as observation, consumer panels and the internet.

  2. Human Resources- Employing and maintaining staff

    and say they are confident as they are sitting in front of a computer screen . Many mistakes are made in the interview and it is easily to judge the candidate and tell when they are lying . Selection takes place and someone is appointed You should seek references from

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