Unemployment within the Labour Market is Primarily Voluntary Essay

Unemployment within the Labour Market is Primarily Voluntary - Essay Example Unemployment within the labour market is primarily voluntary But this hope was to prove a mirage as the trend reversed in subsequent months. Though the UK took a little while to catch up with the crisis in the United States, at the beginning of the second quarter of 2008, the region’s economy was in acute recession. It has been close to four years since the onset of recession and subsequent economic slowdown in the UK and the prospects for a turnaround in the region remains distant. The question of unemployment in the labour market, and whether or not it is ‘voluntary’ needs to be studied under these prevailing economic conditions. Also, a historical view of the role and operation of labour markets will lend clarity to the topic in question. This essay endeavours to do the same by way of analysing and synthesizing related scholarly resources on this subject. A look at the current unemployment problems in the UK reveals how acute a social, political and economic problem it has now become. For example, â€Å"Concerns have be en raised for a "lost generation" in the North East after the region was highlighted as a blackspot for youth unemployment. New research reveals that almost a third of people claiming unemployment benefit in the region are aged between 18 and 24, making the North East the worst region for youth joblessness in England. The figures released by the GMB union, showed there were 18,765 claimants within the age bracket in the North East last month, 30.9% of the total. That figure rose to 35% in County Durham, the fifth worst local authority area in the UK for young claimants.† (Lawson, 2011, p.6)... ng claimants.† (Lawson, 2011, p.6) Many politicians and social activists believe that increasing unemployment will lead to a ‘lost generation’ of such young people. This situation could lead to social fissures, with attendant increase in crime. Already, statistics from the North East is troubling: â€Å"six out of the nine areas in the region had more than the national average for young claimants. County Durham, Sunderland, Northumberland, Hartlepool, South Tyneside and Darlington were all above the national average of 28%† (Lawson, 2011, p.6) Further, for many youth in the region, there are no clearly defined career paths ahead. Such was not the case during the 1960’s and 1970s. Whether or not this unemployment situation is voluntarily sought or involuntarily imposed can be learnt from several surveys undertaken recently. What these surveys clearly indicate is the definite sense of ‘fear’ in the hearts and minds of the unemployed. To the extent that fear is seldom a voluntarily embraced choice, unemployment in present day Britain is imposed on eligible and willing workers. Participants of the survey were asked what they think will be the prospects for employment over the next year: â€Å"The balance between positive and negative answers has averaged 25 since its inception in 1982-the higher the number, the more people expect unemployment to rise. The findings shows, fear of unemployment rose very strongly in mid-2008, just as the unemployment rate started to rise, but then fell back through early 2010 to a low of 30 in February. The balance was 35 in May, 40 in June and 54 in July. The last increase of 14 points is the second-largest in the series ever, behind an increase of 15 in January 1991, when unemployment was also 7.8 per cent and rising.†

Human Resource Management Literature review Example | Topics and Well Written Essays - 1500 words

Human Resource Management - Literature review Example An organization manages its talent through the HR and this is how both HR and talent management are linked. HR has a responsibility of ensuring that the employees work for the achievement of the organizational goals. In order to manage the organizations talent, HR needs to come up with effective employee policies, etc (BRATTON, J., & GOLD, J. 2000; CHEESE, P., THOMAS, R. J., & CRAIG, E. 2008) There are different scholarly studies that discuss about the role of HR in the talent management and the organizational performance. One of the studies discusses about the different phases that occurred during the development of the theory of HR and performance. There are basically five phases that took place during the development of the theory of HR. The beginning phase was when the HR was actually associated with the performance of the company. There was a link made between the HR practices and the strategies of the businesses. The second phase was empiricism, when statistical surveys were us ed to support the development of the theory of HR. The phase was successful in establishing a positive relation between the HR and the organizations performance. ... The study links this theory to the current role of the HR. It also discusses about the challenges faced by the HR theory. The scope of the theory is too narrow. It argues that the workforce motivation and commitment are an important aspect of the increasing sophistication. It states that keeping in mind the respective workforce HR managers need to come up with the best practices to have the most positive outcomes and to have the greatest impact on performance. The study has some loopholes. It does not suggest how the HR managers can come up with good practices. It does not suggest exactly what models and research methods should be used to understand the impact of HR theory on the performance. It also does not suggest ways of talent management to bring out the best out of employees (GUEST.D 2010) Another study was conducted which focused on the Human Resource Management and the Corporate Performance in the UK. The study basically focused on that how human resource management can help the corporations to achieve competitive advantage through its workforce. It shows a clear relationship between the human resource management and performance but the study fails to establish the level of extent to which the HRM results in a higher performance of the corporations. During the course of this study it was found out that greater use of HR practices results in lower labor turnover higher profit contribution per employee but it does not ensure a greater productivity of the employees. There were 366 UK based companies that were studied by the researchers to establish the above results (GUEST.D, MICHIE.J, CONWAY.N & SHEEHAN.M 2003) Talent management is the most important aspect of the HR