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How does HR maintain knowledge about the labor market?

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Question added by Mohd Asif Ansari , HR Administrator , Al Nasseej Al Arabi Factory Co. Ltd.
Date Posted: 2014/11/25
Vinod Jetley
by Vinod Jetley , Assistant General Manager , State Bank of India

To compete successfully, your business needs reliable, current information about conditions and expectations that influence the labour market. It is in your best interest to have a good understanding of some or all of these topics:

economy

globalization

demographics

labour market trends

industry/sector activity

employment standards

workplace health and safety

occupational forecasts

job descriptions and wage information

technological change.

Your ability to benefit from each source of labour market information depends on understanding its nature and its uses.

 

hossam azzam
by hossam azzam , Fast food restaurant,s manager. , alexandria-egypt

Thanks for the invitation

Good question

Agreed with Mr.:Jetley,s answer

Deleted user
by Deleted user

agree with Vinod Jetley

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

Labor Market Information (LMI) could be described as the body of knowledge that reports information on the number of people employed or unemployed, unemployment rates, average wages, population, income, occupational projections and other economic variables. The LMI Department, through federal grants with the Bureau of Labor Statistics and the Employment and Training Administration, operates statistical programs to capture and report economic information.   Answer given by Mr. Vinod Jetley is well explained .

 

Divyesh Patel
by Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town

Its important for HR to continue keeping an eye and follow labor market for any changes.

souha safir
by souha safir , إدارية , قطاع التربية

I agree with the opinion of colleagues

Ismi Puji Hastuti
by Ismi Puji Hastuti , English Teacher , SMK Widya Taruna

Keep up to date with the market trend and rest I agreed with Mr. Jetley answer

Saiful Islam Hiron
by Saiful Islam Hiron , Site HR Manager , Handicap International

To provide knowledge on  labor policy.

Deleted user
by Deleted user

i agree with give opinions.

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