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Assess the major contemporary labour markets and trends in different country contexts.
Explain how organisations position themselves strategically in competitive labour markets.
Explain the significance of tight and loose labour markets conditions.
Describe the role of government, employers and the trade union in ensuring future skills needs are met.

Contemporary Labor Market Trends in the UK and Dubai

This study deals with assessing the contemporary labor markets and trends in countries such as United Kingdom and Dubai (Storey 2014). With that, it will be easy to identify the labor market trends in both the countries and evaluate which country is best where branch of Lloyds Pharmacy clinical home care will be opened in the near future (Lloyds Pharmacy - Clinical Homecare 2017). The current segment even explains how organization actually positions themselves strategically in competitive labor markets and selecting the best one for the new business plan. The next segment highlights significance of tight as well as loose labor market conditions. The study even explains the role of government, employers and trade unions in ensuring future need are met or not. Comparison had been done between countries such as UK and Dubai where they need to open a new company that will provide home healthcare at home to patients (Sparrow, Brewster and Chung 2016).

According to an economic analysis, it is quite evident that nursing labor market shows short-term effects of changes especially in nursing wages as well as entire level of unemployment on the number of nurses who shows willingness for participating in the workforce and the number of hours they are willing for working purpose (Lloyds Pharmacy - Clinical Homecare 2017). Several economic and non-economic factors are taken into consideration when that continues to effect in short-term participation while long-term projections predict a case where workforce are getting increasingly older as well as foreigners (Lloyds Pharmacy - Clinical Homecare 2017). There had been current shortage of registered nurses that prevails in United Kingdom where the performance of nurse labor market had attracted growing scrutiny by wide range of industry as well as researchers, policymakers, professional organization and the media (Reiche, Mendenhall and Stahl 2016).

The healthcare sector is expected for driving jobs market in the UAE where opportunities dry up in hospitality, banking industries as well as oil and gas (Lloyds Pharmacy - Clinical Homecare 2017). The healthcare professionals demand increase of 12% on yearly basis in terms of jobs. From the annual UAE compensation and Briefing Report, it is quite significant to understand the report contains an analysis of salary data from more than 600 organization in UAE that covers more than 2,70,000 employees. By this, it is observed that there had been clustering of nationals in selected sectors such as a fairness of pay based on gender as well as renewed buoyancy in the market. As far as overall jobs market for nurses are concerned, it had declined by 22% in UAE market. It is because of economic slowdown and uncertainty where business firms are downsizing as well as restructuring the workforce as a whole. According to UAE economist, cost to income ratios had been increased in recent times but cost remained the same and that tried for reducing the ratio (Purce 2014).  

In order to understand how organization places themselves in the competitive labor markets so that they do not face issues in the near future (Lloyds Pharmacy - Clinical Homecare 2017). Firstly, it is needed for highlighting the future skills shortages that are present in the country where the company will operate in the upcoming years. There is a need to upskill workforce in Dubai, need for more high-level skill that should be present in the nurses who will treat patients at home. The organization that will open in Dubai should not always think of competing on cost as it is a matter of health of human beings and efforts need to be taken where they are properly taken care with all the facilities that are required by them. Nurses need vocational education so that they can solve all the issues and involve in practical training as well. There is a need for mixed economy of skills provision as well as more active employer engagement. It is because jobs in future will need higher level of skills (Marchington et al. 2016).

Strategic Positioning in a Competitive Labor Market

It is thereby seen that UAE remains committed towards making significant improvements in its human resources for health situation and it is recommended to open an health care organization in that place. United Arab of Emirates will not be able to achieve the ambitious health milestones that takes includes improving the quality, achieving the development goals as well as quantity of health workforce (Jackson, Schuler and Jiang 2014).

Tight labor markets are those markets that results in market or periods of time when there is shortage of skills as well as knowledge at the same time. In the present study, Dubai is a country that has tight labor market that needs to be taken into consideration and awareness is needed as far as possible.

Loose labor markets are those markets that result of a surplus of skills as well as knowledge that is essential for undertaking available roles. It includes recruitment initiatives, retention initiatives and organizational design (Budhwar and Debrah 2013).

Several factors inhibit UAE ability for providing adequate health care for its citizens who reside at that place. It is the most significant that involves underfunding attributes in the healthcare sector in UAE (Brewster, Mayrhofer and Morley 2016).

Role of Government- The main role of government is flexibility on work permits. The government needs to give work permits, then only further obligations can be started one after the other (Lloyds Pharmacy - Clinical Homecare 2017).

Role of Employers- The main role of employers is to utilize the existing skills as well as knowledge. It is important for the employers who work in an organization for fully utilize the skills and knowledge that are already inhibited in them and also find ways to learn new things after attending training sessions (Brewster and Hegewisch 2017).

Role of Trade Union- The main role of trade union is to enhance communication as well as involvement.

The above-mentioned role of government, employers and trade unions helps in ensuring that future skills needs are met properly or not.

The assignment mainly compares the labor market trends to different countries so that they understand where they can set up a company that can provide home healthcare to patients. After working at Lloyds Pharmacy Clinical home care, it was asked by the CEO for evaluating the market labor trends and solves the issue tight labor condition that takes place due to shortage of skill and knowledge (Lloyds Pharmacy - Clinical Homecare 2017). The company that will be established in a country will need nurses for the time who can give home healthcare at home to patients, as there is tight labor market for nurses in the healthcare industry (Beardwell and Thompson 2014).

Workforce planning is now getting the right number of people with the right skills that are employed in the right place at the right time so that the labor is capable of meeting long-term as well as short-term objectives of an organization. It needs to cover wide range of activities like flexible working hours, succession planning as well as job design (Lloyds Pharmacy - Clinical Homecare 2017). The workforce planning actually links with the strategic business goals as well as viewed as significant part of the strategic business planning process in the most appropriate way (Armstrong and Taylor 2014).

In order to treat patients at home, the company will need necessary human resources who can deliver health care at affordable rates. The main cause of the crisis is high staff turnover, planning and management, weak development as well as inadequate and inequitable distribution of nurses. The shortage actually affects the available worker categories in great ways (Lloyds Pharmacy - Clinical Homecare 2017).

Conclusion: 

At the end of the study, it is concluded that Dubai had been selected where Lloyds Pharmacy clinical home care can be opened, as there is wide opportunity to find nurses for the new company. Nurses will be recruited based on their skills and knowledge and then they will be working for Lloyds Pharmacy clinical home care and providing healthcare services at home to the patients. Recruitment is all about recruiting the right person for right job otherwise it will serve no real purpose or benefit for the organization. Lloyds Pharmacy clinical home care is already established at United Kingdom and need to expand in other countries as well as so that the company can help people who are suffering with health issues and to gain profit with the fees that is paid by the patients.

Reference:

Armstrong, M. and Taylor, S., 2014. Armstrong's handbook of human resource management practice. Kogan Page Publishers.

Beardwell, J. and Thompson, A., 2014. Human resource management: a contemporary approach. Pearson Education.

Brewster, C. and Hegewisch, A. eds., 2017. Policy and Practice in European Human Resource Management: The Price Waterhouse Cranfield Survey. Taylor & Francis.

Brewster, C., Mayrhofer, W. and Morley, M. eds., 2016. New challenges for European resource management. Springer.

Budhwar, P.S. and Debrah, Y.A. eds., 2013. Human resource management in developing countries. Routledge.

Jackson, S.E., Schuler, R.S. and Jiang, K., 2014. An aspirational framework for strategic human resource management. Academy of Management Annals, 8(1), pp.1-56.

Lloyds Pharmacy - Clinical Homecare. 2017. Homepage - Lloyds Pharmacy - Clinical Homecare. [online] Available at: https://www.lpclinicalhomecare.co.uk [Accessed 7 Jul. 2017].

Marchington, M., Wilkinson, A., Donnelly, R. and Kynighou, A., 2016. Human resource management at work. Kogan Page Publishers.

Purce, J., 2014. The impact of corporate strategy on human resource management. New Perspectives on Human Resource Management (Routledge Revivals), 67.

Reiche, B.S., Mendenhall, M.E. and Stahl, G.K. eds., 2016. Readings and cases in international human resource management. Taylor & Francis.

Sparrow, P., Brewster, C. and Chung, C., 2016. Globalizing human resource management. Routledge.

Storey, J., 2014. New Perspectives on Human Resource Management (Routledge Revivals). Routledge.

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My Assignment Help. (2021). Assessing Labor Markets And Trends In The UK And Dubai: An Essay.. Retrieved from https://myassignmenthelp.com/free-samples/fblt050-human-resource-management/significance-for-workforce-planning.html.

"Assessing Labor Markets And Trends In The UK And Dubai: An Essay.." My Assignment Help, 2021, https://myassignmenthelp.com/free-samples/fblt050-human-resource-management/significance-for-workforce-planning.html.

My Assignment Help (2021) Assessing Labor Markets And Trends In The UK And Dubai: An Essay. [Online]. Available from: https://myassignmenthelp.com/free-samples/fblt050-human-resource-management/significance-for-workforce-planning.html
[Accessed 23 February 2024].

My Assignment Help. 'Assessing Labor Markets And Trends In The UK And Dubai: An Essay.' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/fblt050-human-resource-management/significance-for-workforce-planning.html> accessed 23 February 2024.

My Assignment Help. Assessing Labor Markets And Trends In The UK And Dubai: An Essay. [Internet]. My Assignment Help. 2021 [cited 23 February 2024]. Available from: https://myassignmenthelp.com/free-samples/fblt050-human-resource-management/significance-for-workforce-planning.html.

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