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Labor Market and Human Resource Planning

My Distance Learning College

Description

The exchange of work for payment is a practice as old as human civilization and as modern as today's newspaper. We hear of "fat cats" earning too much and we hear of junior hospital doctors enduring the stress of working too much and earning too little. We hear much less about the mechanisms whereby the people looking for work and employers looking for people to do work actually get together. These mechanisms are the mechanisms of the labor market, as everyone who exchanges their work for someone else's payment is part of a labor market.

Matching supply with demand is an activity involving careers advisors, recruitment consultants, job centers and other agencies before it becomes one of the central features of human resource management. Economists explain the way supply and demand works between those who offer employment and those who offer their labor, with the emphasis on the economic aspects of the options open to the parties:

"Theory suggests that job choice is determined by the bundle of wage and non-wage conditions attached to different jobs. Current earnings, employment prospects, probable future earnings, the nature and conditions of work and similar factors are all evaluated by the person seeking work, whose ultimate decision between alternative job openings depends on the balance of net advantages" (Mackay et al. 1971, p. 16).

Here we limit ourselves to those features of labor market data and analysis that impinge on the vacancy filling problems of organizations.

This covers topics such as:

  • Objectives
  • What is the labor Market?
  • labor Market Mechanics and Data
  • Strategic Aspects of Resourcing
  • Planning: Jobs and People
  • Summary
  • References
  • Further Reading
  • Self Assessment
  • Tutor-marked Question Paper

Outcomes

Labor Market and Human Resource Planning Certificate

Labor Market and Human Resource Planning Certificate issued by My Distance Learning College, entitling you to use the letters SAC Cert after your name.


Assessment

After each lesson there will be a question paper, which needs to be completed and submitted to your personal tutor for marking. This method of continual assessment ensures that your personal tutor can consistently monitor your progress and provide you with assistance throughout the duration of the course.

course quick facts
course code DED9372
cost $93.00
estimated time to
complete course
20 Hours
course materials
available
365 Days