Conceptual Framework
The employment market is considered as the most vibrant market, which is continuously chaniging with a rapid speed. The changes in the market are natural. In fact, the changing market also needs some fresh and new graduates who can bring changes in the business system as well as the process of trading. The question which got selected for the discussion hers in the report is identified as “Evaluate the barriers and opportunities for the graduates who wish to enter in an employment market by which the familiarity can be identified”.
The major purpose of this essay is to introduce an employment market for the graduates. The industry selected for the discussion is the textile industry. This question is selected for the discussion, because it is considered as the major topic in the current scenario. The major sections which are covered in the essay are shown below in the form of points.
- The conceptual framework is helpful in defining the conceptual frame employment market, demand and supply related to the labor market, opportunities and barriers.
- The next section is identified as the review of HR practice. In this section, the external, internal and HR practice are being identified.
Conceptual Framework: The employment market of UK is blooming with various career opportunities. With the changing time and market orientation facility, the different kinds of jobs are originated. In one profile, there is a division of multiple aspects. Through this, the positive aspects related to the job can be identified. But, as the employment areas and opportunities are changing continuously, so the positive as well as the negative aspects are also getting improved with the quick speed. To develop the conceptual framework for managing the involvement of graduates on a large scale, it is essential to look forward for the various supporting aspects on an individual level. To define the conceptual framework, the division will be managed in four different sections (Green & Henseke, 2014).
What is an employment market: The employment market, which is commonly known as the labor market mainly defines the perspectives related to the different type of opportunities and barriers. The major purpose of the employment market is to provide assistance in the correct direction. The approach is quite managed and focused. There are two constraints mentioned for the labor market. These are identified as the demand and supply. The demand is mainly raised from the employers and the employees try to fill the demands of the employers. This is the most suitable way to identify the cyclic rotation. This will also help in providing specific assistance as well (CIPD, 2017).
The role of the employment market for graduates: The employment market or labor market plays a strong role in the management of graduates or new comers. The employment market of UK is full of opportunities and possibilities. It could become easier to manage the aspects related to the graduates, if the strategic approach towards the labor market can be identified properly. The labor market will be totally dependent upon some of the factors which are named as the wages, wage rate and other important factors. This will aid in supporting the aspect connected to the graduates on a regular basis. Some of the specific roles of the employment for the graduates are specific.
What is an employment market
The employment specially the UK employment market is successful in providing assistance for an improvement in the proper direction. There are various industries which are helpful in improving the economic aspects associated to the organization. To manage the economic structure, the balancing of the employment process is essential as well.
The employment market also helps in managing the local as well as international market in a proper way. The different agendas and approaches are identified for the graduates to face the current environmental condition. The textile industry of Manchester is selected for the discussion. In this, changes are regular and updating on daily basis will be required. The employment market also provides graduates with facility of regular changes and improvements (Acas, 2012).
Other than this, the financial and revenue aspects are also becoming regular. This will provide more job opportunities to the new comers. The graduates can also contribute with their definite type of skill set. This specific role of the employment market will be helpful in promoting major aspects related to the organization (Dhanabhakyam, 2014).
Demand and supply for Labor graduates: As stated above that the demand and supply is identified as one of the most basic aspect which is mentioned for the fresh market related to the labor or the employment. The description for the demand and supply for the graduates is defined below. The estimated population of UK is about 63.7 million out of which at least 37.7 million are approaching towards the new employment market. For managing the aspects related to the organization, all these features are carried out.
The employment or labor market is mainly influenced by the demand for the labor. The demand for labor is mainly affected by various factors. This will influence the working structure related to the organization. Some of the factors are wage rate, demands for the products, productivity of labors, profitability of firms and specific buyers for the products. This will directly affect the supply of the organization in various ways. The increment in the wage rate will help in providing precise development of the individual on a wide level. If the bonus of workers will be higher, then suitable information related to it may also get generated.
This will also help in increasing the opportunities for the graduates. The demands for the products will directly increase, if the number of products will increase. The suitable assistance for managing the products will be provided at an initial level. The productivity of the labor will be helpful in defining suitable output. The maximum entry of the new graduates will assist in providing specific assistance for the better approaches. The profitability of the firms and buying nature of the candidates may also increase subsequently, if the nature of production and supply is defined properly in the organization. All these aspects are also affecting the demand related to the current employment market in the organization.
The supply of the labor graduates is also changing with a rapid rate. There are various factors related to the labor market too, which are mainly influenced by the factors defined for the approach. The major factors related to the employment market are defined as the wage rate, the size of the working population and many other aspects which are affecting the actual structure related to the labor supply in the wide manner. For managing it, textiles aspects are essential to be found out. According to this, the suitable plans will be prepared (Coombs, 2017).
The role of the employment market for graduates
Opportunities: The textile market of UK is identified with various options. As topic selected here for the discussion is related to the textile market, so it is identified that various career opportunities are also mentioned. Some of the most promising career opportunities identified in the employment market are defined below with suitable clarification. Though, the UK market of textile is competitive and costly too, but the proper opportunities are identified for the market on an initial level. The average of the UK textile market is displaying with a total percentage of contribution. The Womenswear is about 53 percent, the menswear is about 26 percent, kids-wear is 20 percent and accessories contributes nearly 1.6 percent on an average amount.
Trading opportunities are identified as one of the main aspect which graduates can use in the proper direction. The international and local opportunities for trading are more vibrant and regular. The fresh graduates can apply the trading opportunities in the most specific manner and also provides the authenticated support for the development for the expansion of the trade worldwide (Correard & Amrani, 2011).
The textile industry is very wide. The Manchester itself contributes maximum amount of clothes to the country. So, the graduates can apply for the Supply chain management opportunity in the employment market. The supply chain management has various phases, which helps in providing specific direction for the improvement. The management for logistics, the balancing of products and identification of suitable goods are included in the complete process of the SVM (Shanthilakshmi, 2013).
The textile industry also needs manpower for the Packaging and Shipping. The products are labeled and packed from one location and then supply is done at the other location. The international market is also booming with specific details. So, to manage the aspects related to the organization, it is essential to be involved in the packaging and labeling system linked to the organization. The graduates can put forward their approach for the growth & development and supply the final products to the required areas (Cole & Holtgrave, 2007).
The promotion & advertisement is also identified as one of the area in which the graduates can come forward with their approach. The current graduates can apply for the promotional aspects of the products, by which the maximum products can be transferred from one location to another. By the help of this, the product as well as the employee can able to manage their specific identity on a wide level.
Barriers: Similar to the opportunity, every new venture brings a definite set of barriers or problems with them. It is not easy to face these issues. To manage issues at an initial level, some strategic aspects are essential to be defined and managed. The textile industry of Manchester is properly managed and identified on a vast level. For this industry, they need suitable candidates who can able to drive the organization in the correct direction (The Alliance Project Team, 2015).
Lack of confidence or experience is the major challenge or barrier which is mainly faced by the youngsters while joining the textile industry. There are various aspects and processes by which the youngsters are suffering. They are new to the industry and also not able to identify the norms and conditions related to the organizations. Sometimes, the new organization also does not provide opportunities to the young graduates. At that time, the level of fight gets increase and the youngsters have to face various challenges.
Demand and supply for Labor graduates
In the initial days of business practices, some young graduates want to go for the option of entrepreneurship. They believe that the entrepreneurship is successful in providing economic as well as personal assistance for an improvement. But, sometimes the lack of experience also reduces the aspects associated to the entrepreneurship. The young graduates also lack in framing the actual strategy related to the organizational goals. Apart from this, the young graduates also face the problems related to the initialization and promotion of the business. Due to this, the young graduates are not able to face the employment or the labor market (Choubey & Agrawal, 2016).
The perception and expectations of the graduate are very high. Though their knowledge is fresh and more peculiar about the subject, but still in the field like textiles, the experience matters a lot. Without experience, the expectations and perceptions can only be dreamed. Requirement of different skill set for the improvement and management of the demands are identified as one of the basic approaches related to the textile business. If the expectations and perception about the job will increase, then it won’t provide the suitable feedback.
Repatriation of the textile industry is considered as one of the barrier which is affecting the growth aspects related to the graduates involvement in the employment. The textile industry also follows the rules and regulations related to the country. Apart from this, the cultural aspects are also being identified as one of the basic approach which can be implemented at an initial level. The different aspects related to the cultural aspects are also affecting the suitable areas related to the textile industry.
There are other aspects too which are primarily acting as the barrier in the growth and development of the textile industry as well as for the fresh graduates.
Review of HR practice: The textile industry in the UK is booming with the marvelous speed. It is essential to identify external as well as the internal environment related to the organization. The textile industry is identified with various scopes and practices. To manage these aspects, suitable information in context to the external and internal environment is required a lot. This environment plays a specific role in the developmental aspects of the employment market as well.
External Changes: The labor market of UK is identified with the specific working aspects. The textile industry is also affected by the major changes that are being initiated on the wide level. Some external factors which are affecting the labor market for the graduates are identified as the Political, economic, social, technical, legal and environmental factors. All these aspects are also creating the positive as well as a negative influence on the working structure of the organization.
The stable and constant approach towards the economy will help in defining basic aspects related to the organization. The plenty of opportunities and specific knowledge about the major aspects will assist in managing the developmental aspects (Harrell, 2016).
The economic and social factors of the country are affecting the growth aspects related to the industry. The economic inflation and the continuous changes in the existing market price is considered as one of the reasons due to which the textile industry gets affected. Apart from this, the employment market also gets affected by these changes.
The country comes under the MECD (Most economic developed country). This will help in defining the major changes related to the organization. Due to this feature, the continuous changes are being observed in the labor market (Koumparoulis2, 2013).
The social and environmental aspects are also affecting the employment market of the country. The factors like wages and employability gets impacted by the external changes which are being highlighted in the organization. To manage all these perspectives, a proper strategic approach is required. The textile industry can only be managed when the proper amendments of all these factors can be determined.
Internal Changes: There are various internal factors which are affecting the working aspects related to the UK. For managing these aspects, it is essential to look forward for the major section to be covered. One of the major internal factors is the SWOT analysis, which affects the growth aspects related to the organization. Apart from this, the internal rules and regulations made by the UK government may also affect the working aspect of the textile industry (Correard & Amrani, 2011).
A change in the consumer behavior and the introduction of a new product can affect the employment ratio of the graduates who are entering into the world of textile. They have to research on the changing consumer behavior as well as needs to identify the latest trends changing in the market (Brown, et al., 2005).
The influence of government policies and changing approaches are also introducing with the definite aspects. This will influence the major developmental aspects related to the textile industry. The norms which are changing on a daily basis will also affect the new graduates in the employment market. The graduates have to be prepared with suitable and different strategy and aspects (Dietrich, 2017).
The management of the multiple threats and identification of issues in a simultaneous manner will cause a reverse impact on the development of employment markets. To handle this type of scenario is not considered as an easy task. The graduates have to use a practical approach for managing the aspects related to the employment market. Both, the internal and external factors can be managed by applying the human resource practices in a proper way (Cole & Holtgrave, 2007).
HR functions and practices: The identification of HR functions and practices is identified as one of the solution for the improvement and development. There are various practices mentioned through HR, by which the effects related to the internal and external environment can be tackled. The selection and recruitment is the best way to avoid the external as well as internal issues. The new graduates can pursue the employment market by getting proper opportunity. This practice will also help the graduate to build their specific identity (Mercer LLC, 2013).
The international approach towards processing and various marketing opportunities will also help the new people to manage their suitable aspects. The human resource also tries to provide suitable career opportunities to the employees. This will also be helpful for the new graduates to enter into the employment market. By following all these perspectives, the suitable aspects related to the process can be solved out easily (Allwood, et al., 2006).
Conclusion
The conclusion section is identified with full of recommendations and final results drawn. In this section, the suitable action plan to manage employment market or graduates are being identified. In fact, the conclusion section also helps in providing major aspects related to the HR practices. The practices like recruitment and selection is identified for the discussion. These practices are suited according to the current scenario. It is essential to manage stakeholders too, because the stakeholders are considered as the strong contributors in the development and promotional aspects. To manage the stakeholders, it is essential to manage the strategic aspects in a strong manner.
This will help in defining the employment market in a well defined manner. The sustainable development goals are specific and highlighted. For making these goals more peculiar, the sustainability plan will also be identified clearly. These goals will be helpful in defining the success aspects in a proper way. It is also identified that to be successful in the employment market and to manage the sustainability aspects by the individuals, it is essential to prepare the proper plans for management. The tabular approach for the sustainable development is defined below. This action plan will be helpful in highlighting the major aspect related to the completion of the process.
|
Action Plan |
Starting Phase |
Ending Phase |
|
Introduction of a new strategy in the employment market. |
It takes around 4 months |
The graduates can able to manage maximum opportunities. |
|
Identification of barriers and opportunities in the international and local market. |
It takes a time of about 4-6 months before the initiation of the project. |
The barriers will be removed timely. |
|
The notification towards the HRM strategy and practices. |
It takes around 3-6 months. |
The final result is the formation of the suitable HR practices in the organization. |
|
Other aspects improvement |
It takes around 2-4 months |
The final result is the formation of suitable market for the youth. |
References
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Dhanabhakyam, M., 2014. Textile industry: An overview, Available at: https://www.fibre2fashion.com/industry-article/2363/indian-textile-industry-an-overview?page=1
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Koumparoulis2, D., 2013. PEST Analysis: The case of E-shop. International Journal of Economy, Management and Social Sciences, 3(2), pp. 31-36.
Mercer LLC, 2013. External labor market analysis, Available at: https://www.mercer.com/content/dam/mercer/attachments/global/Talent/Mercer_ELM_Flyer2.pdf
Shanthilakshmi, J., 2013. Competitive Advantage Through Training the Manpower in Textile Industry, Available at: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2368683
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