(Solution) 5HR02 (AC1.1) Explain how organisations strategically position themselves in competitive labour markets
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| (AC1.1) Explain how organisations strategically position themselves in competitive labour markets.
Short references should be added into your narrative below. Please remember to only list your long references in the reference box provided at the end of this section. Word count: Approximately 400 words |
| Competitive Labour Market
A competitive labour market is one in which employers are competing to attract and retain skilled workers, and employees are competing for jobs that provide the best rewards, benefits and conditions (Ansari, 2021). Organisations find it hard to attract and retain talent due to factors like labour shortages, economic condition and competitor offerings. Ways ParcelCare Could Position Itself in a Competitive Labour Market Employer of Choice In order for ParcelCare to become an employer of choice, the organisation has to develop a workplace culture that is built on inclusivity, respect and growth (Jacobs, 2021). Some programs, targeted for employees, include allowing flexible working arrangements, mental health support and thorough onboarding programs that equally play a part in increasing job satisfaction and loyalty. With clear career progression pathways and personalised training, employees feel they are getting long term value by staying with ParcelCare. In addition, celebrating individual and team achievements in recognition programs motivate employees leading to commitment (Willmott, 2019). Through this approach, ParcelCare is able to establish trust and create an engaged workforce which sets the organisation apart as a preferred employer in their competitive market. Employer Branding A robust employer brand that ParcelCare creates for their prospective and current employees is essential. With the company’s values that include innovation, sustainability, and community engagement, these values can be used as the foundation for branding the company (Jay, 2023). Social media, employee testimonials and case studies can all be used by ParcelCare to show their organisation’s positive workplace culture and development of employees. Also, highlighting environmental responsibility and diversity programs attracts modern job seekers seeking purpose driven employers. With an authentic, consistent message mirroring ParcelCare’s investment in employees, coupled with a responsive and engaging online presence, ParcelCare will build itself out to be the employer of choice (CIPD, 2024a). Competitor Analysis Through an in-depth competitor analysis in the labour market, ParcelCare can position itself strategically. According to Pettinger (2020), this entails benchmarking salaries, benefits, work life balance, career progression opportunities and recruitment strategies. ParcelCare can tailor its value proposition to offer more appealing compensation packages, better working condition, and unique benefits such as performance bonus or wellness programs by identifying gaps in the services offered by competitors. Furthermore, ParcelCare can consider competitors’ position in local geographic markets, allowing them to adjust their recruitment strategy to target areas not served by competitors. Through a data-driven approach, ParcelCare is able to attract top talent and handle labour market challenge effectively.
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