The assignment deals with labour market analysis and performance measurement criteria. The study is set against the backdrop of Nice Shop Limited, a chain of grocery shop. The human resource department of the company aims to restructure its employee and recruitment policies according to the developments in the labour market. It is looking forward to incorporating the laws like National Living Wage passed in Britain. This would allow it to employ more efficient staffs and align them to the business needs of the company. The new laws necessitate the company to employ less number of employees and pay them better wages. The assignment is divided into two parts, the first part deals with labour market analysis while the second part deals with performance measurement criteria. The task draws substances from several laws of Britain pertaining labour wages and compensations.
Nice Shop Limited must conduct labour market analysis in order to employee compensation and planning decisions. The following are the importance of conducting a labour market analysis:
Labour market analysis is important because it helps the human resource departments to know from where to acquire the appropriate staff from various positions. As far as Nice Shop is concerned, it needs to recruit highly qualified employees who would be able to handle multiple tasks. For example, Nice Shop Limited needs to employ supply chain and logistics managers who need to manage these two areas. It can also be pointed out that the past recruitment were not as effective as expected. Here the human resource managers should analyse the labour market to indentify sources from where they can acquire efficient line managers. Hence, Nice Shop should conduct labour market research to make its recruitment effective.
Labour market analysis is very important because it helps a firm to know the standard compensation rates prevailing in the market. The companies operating in a particular economy have to abide by the labour laws pertaining to minimum wages. For example, the current rate of minimum wage under National Minimum Wage Act 1998 in Britain is £ 7.50. The employers who do not pay the wage have to pay penalty of £ 20000 according to the act (Gov.uk, 2017). The employers who breach the act are liable to face further actions from the government. Nice Shop Limited must conduct labour market analysis to know about the standard wage rates which are mandated by the government. It can be pointed out that such analysis will make the human resource and management of the company aware about these rates. The company has to incorporate these rates in the compensation policies. Nice Shop must pay the minimum wages to its employees to avoid government crackdown for breach of NMW.
Labour market analysis helps a company to gain knowledge about the pay practices prevailing in the market. The national and international laws necessitate the employers to pay a minimum payment to the labours. The Working Time Regulations 1998 in the United Kingdom requires the employers to make arrangements for health and safety of the employees. The act also mandates the employers not to make the employees work more than forty eight hours in a week (Legislation.gov.uk 2017). Thus, Nice Shop Limited should identify the areas like maximum working hours and safety laws as per the British laws. The British Retail Consortium encourages lower employment with higher wages (Brc.org.uk 2017). The company should conduct labour market analysis to ensure that it does not exploit its human resources and make them work more than the limited permissible by law. Thus, the HR should adapt its recruitment policies while framing strategies for recruitment and induction of new employees.
Studying the labour market identifies companies to identify the future market trends like increase in demands for staffs who are capable of using technology. The company in question (Nice Shop) can judge whether its present work force is competent enough to meet the future challenges. It can then plan to recruit new employees and demarcate the expectations from them basis of future trends. The HR department can help the management to form strategies for long term and forecast the requirements of human force. The former can then recruit according to the business requirements. The HR department can also study the competencies of the present work force to deal with future changes in the markets. It can then arrange for training and development of the existing staffs. This helps the management to make it employee more competent and efficient. Thus, analysis of labour market helps the HR department to judge the present talent sources and provide training if required. It also helps the HR departments to forecast the future requirements and recruit accordingly (Falola et al. 2014).
The following are the performance criteria for induction to Nice Shop Limited :
The inductor of Nice Shop Limited should intimate the new employees about the company, its organisational culture and its employee policies. The human resource department manager should induce the new hired about the compensation policies and expectation of the management from them. Orientation is important to business it helps the business to project itself transparently before the new employees. This positive image enables the organisation to retain the employees and align them to the future business targets.
The departmental heads inform the new hired about their departments and their functions. They also intimate them about the departmental targets, modes of operations and department specific rules and regulations. It is important because it helps the departmental heads to make the new employees understand their key responsibility areas. This enables them to contribute positively towards achievement of the departmental target performance achievement. This analyses shows that departmental heads of Nice Shop should induce their new subordinates to the departmental responsibilities. This will help the new employees to perform efficiently to contribute towards departmental performance. The high performance of the departments will ultimately contribute towards the high performance of Nice Shop and competitive advantage of the later. It also helps in creation of positive attitude among the new employees which ultimately translates into high departmental and organisational performances.
The health and safety policies are one of the most important criteria of induction. The inductors inform the employees about the safety and health policies of the company. They make the newly joined employees about the safety policies and ways adopted in Nice Shop incase of accidents. For example, the floor marshal and safety officers of Nice Shop educate them about the location of fire extinguishers and escape routes to be taken in case of an accidental fire(Fay et al. 2015).
The product training is one of the criteria to measure the effectiveness of an induction programme. The departmental heads of Nice Shops should induce the new joiners about the products and services of the company. The new employees should be able to develop a thorough knowledge how to achieve the targets, how to sell the products and how to deal with the customers. Their capability to deliver and perform after their induction will be the ultimate proof of the success of the induction programme (Goetsch and Davis 2014).
The following are the criteria the HR department should consider to measure performance management:
The human resource department should establish standards and target parameters to be achieved by the employee. The target parameters to be achieved should both qualitative and quantitative. The employees of each department of Nice Shop should be aware about the performance standards to be obtained (Hrsa.gov 2017). The standards should consider the difference in the operations in the various departments. For example, the performance parameters in the finance department should be different from those of the marketing departments (Choi and Yu 2014). This will enable the HR, the management and the departmental heads to conduct employee appraisals more accurately. This will lead to promotions of eligible employees which will pave way for job satisfaction among them. The company will be able to retain the employees and allocate them according to its future business strategies.
The departmental heads and the HR department of Nice Shop Limited should measure the performances of all the employees. They measurement should be based on the performance standards.
The following are the criteria to judge the development activities taken in Nice Shop Limited:
The way the participants react after the development programme is concluded show the success of the programme. The candidates feel confident and motivated after the development programme which shows its success (Zwick 2015).
Effective training programmes lead to increase in the knowledge and skills of the participant employees. The improvement in the level of knowledge and performance show that the training and develop programmes have been conducted successfully (Dhar 2015). The enhancement of knowledge and skill will help the new candidates of Nice Shop to contribute towards the organisational performance. The analysis shows that new and well trained employees bring about innovation in the operations of the company. Such employees can benefit Nice Shop by bringing about innovation in operations who can ultimately improve its organisational performance as a whole.
Conclusion:
It can be summarised that companies should conduct labour market analysis before recruiting employees. They should be aware about the laws pertaining to labour market and pay the labours their legitimate wages according to the Minimum Wage Act 1998. The HR departments should follow the labour laws so as not to attract legal actions from the government. The companies should set criteria to judge the effectiveness of the human resource functions like induction, performance management and development.
1:
My recruitment strategy would serve the recruitment goals of Nice Shops in multiple ways. Firstly by carrying out an analysis of the labour market, I will come to know about the latest trends in the labour market. I would be able to know the Minimum National Wage Act better so that the newly hired employees are paid better wages. This will help the company to acquire more talented staff, which will help it to attain better competitive advantages in the market. The management of Nice Shop Limited will be able to form strategies based on the conditions prevailing in the macroeconomic environment (Albrecht et al.2015). Secondly, setting strict parameters for induction, performance measurement and development will make recruitment more effective. The strict measures of induction will ensure that the newly hired are well aware about the company policies, organizational culture and products. They will be able to perform better which will make performance measurement more effective. Third the new joining employees will be able to benefit from the advanced training and development programmes held in future (Lin and Wu 2014). Fourth, recruitment and training initiatives according to law and increase in efficiency of employees will help the Nice Shop to employ less employees who would capable of handling multiple functions. The company will pay them high compensation and would be able to retain them. Thus, the strategies of labour market analysis and strict parameters of recruitment will help Nice Shop to retain talents and form long term business strategies (Greene, Brush and Brown 2015).
The strategy of labour market analysis and strict recruitment criteria served address the growing business demands in the following ways:
The following things went well according to me:
The following things according to me did not go down well:
The interview could have been done differently in the following ways:
The interview could have stretched over a longer time. This would have allowed the selectors like departmental heads and the human resource department to assess the candidates more closely.
The departmental heads should have been more cooperative and collaborative among themselves. This would have enabled them to carry out the interview more successfully.
The candidates could have been initially screened using methods like online tests which would have tested their basic competencies. It would have reduced the number of candidates who have turned up. This would have helped the human resource department to select the candidates more stringently(Orogbu and Onyeizugbe 2016).
References:
Albrecht, S.L., Bakker, A.B., Gruman, J.A., Macey, W.H. and Saks, A.M., 2015. Employee engagement, human resource management practices and competitive advantage: An integrated approach. Journal of Organizational Effectiveness: People and Performance, 2(1), pp.7-35.
Brc.org.uk. 2017. RETAIL 2020. [online] Available at: https://brc.org.uk/making-a-difference/priorities/retail-2020 [Accessed 28 Jun. 2017].
Choi, Y. and Yu, Y., 2014. The influence of perceived corporate sustainability practices on employees and organizational performance. Sustainability, 6(1), pp.348-364.
Dhar, R.L., 2015. Service quality and the training of employees: The mediating role of organizational commitment. Tourism Management, 46, pp.419-430.
Falola, H.O., Osibanjo, A.O. and Ojo, S.I., 2014. EFFECTIVENESS OF TRAINING AND DEVELOPMENT ON EMPLOYEES’PERFORMANCE AND ORGANISATION COMPETITIVENESS IN THE NIGERIAN BANKING INDUSTRY. Bulletin of the Transilvania University of Brasov. Economic Sciences. Series V, 7(1), p.161.
Fay, D., Shipton, H., West, M.A. and Patterson, M., 2015. Teamwork and organizational innovation: The moderating role of the HRM context. Creativity and Innovation Management, 24(2), pp.261-277.
Goetsch, D.L. and Davis, S.B., 2014. Quality management for organizational excellence. Upper Saddle River, NJ: pearson.
Gov.uk. 2017. National Minimum Wage and National Living Wage rates – GOV.UK. [online] Available at: https://www.gov.uk/national-minimum-wage-rates [Accessed 28 Jun. 2017].
Greene, P.G., Brush, C.G. and Brown, T.E., 2015. Resources in small firms: an exploratory study. Journal of Small Business Strategy, 8(2), pp.25-40.
Hrsa.gov. 2017. Performance Management & Measurement. [online] Available at: https://www.hrsa.gov/quality/toolbox/methodology/performancemanagement/ [Accessed 28 Jun. 2017].
Legislation.gov.uk. 2017. The Working Time Regulations 1998. [online] Available at: https://www.legislation.gov.uk/uksi/1998/1833/regulation/4/made [Accessed 28 Jun. 2017].
Lin, Y. and Wu, L.Y., 2014. Exploring the role of dynamic capabilities in firm performance under the resource-based view framework. Journal of business research, 67(3), pp.407-413.
Orogbu, O.L. and Onyeizugbe, C.U., 2016. Career Development and Employee Performance in Selected Universities in Anambra State of Nigeria. Global Journal of Business and Management, 1(1), pp.1-55.
Salau, O.P., Falola, H.O. and Akinbode, J., 2014. Induction and staff attitude towards retention and organizational effectiveness. IOSR Journal of Business and Management (IOSR-JBM), 16(4), pp.47-52.
Sparrow, P., Brewster, C. and Chung, C., 2016. Globalizing human resource management. Routledge.
Wöhrmann, A.M., Deller, J. and Wang, M., 2013. Outcome expectations and work design characteristics in post-retirement work planning. Journal of Vocational Behavior, 83(3), pp.219-228.
Zwick, T., 2015. Training older employees: what is effective?. International Journal of Manpower, 36(2), pp.136-150.
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