Labour market analysis report Lab Example | Topics and Well Written Essays - 1750 words

Labour market analysis - Lab Report Example All these factors combined are evidence of good business that will keep on going and of a healthy national coffer that will stay as strong and full as ever. In front of these backdrops are the fruits that will be reaped at the end of the day. As a matter of course, employment and salaries will increase and consumer spending will immensely rise. The foregoing premises have to be laid down because this report will proceed with the labor market specifics of a certain business domain and it is basic knowledge that any financial dynamic moves hand-in-hand with the issue of jobs. In particular, reference is made to the Coles Supermarkets chain. For brevity, it is here referred to as Coles. Any projection presumed in the instant report is pegged constantly at five (5) years. There are two parts here which are divided into two tasks. The first one will be on labor market analysis which will comprise of the performance criteria (1) to determine predicted areas of organizational growth and downsizing and associated labor requirements, (2) to analyze the organization’s current workforce capacity to meet current predicted demands for the goods and services of the business, (3) to research and review current and predicted external labor supply, demographic and economic data, and to forecast human resources supply, (4) to determine the organizational diversity requirements in the workforce, and (5) to make the necessary recommendations for workforce planning. The second part of the report pertains to (1) succession planning and workforce plan evaluation, and (2) developing a succession plan which addresses internal labor needs in the medium to long term requirements, utilizing succession planning principles with an incorporated retention plan. Coles has seven hundred forty (740) stores all over Australia. It has a workforce consisting of about ninety two thousand (92,000) employees.5 This is a relatively large organization.