Labor Market Trends and Flexibility - Essay Example

The paper "Labor Market Trends and Flexibility" is a great example of a finance and accounting essay. Personnel management is an organizational discipline of recruiting and developing workers so that they can become more useful in an organization. Personnel management is usually administrative in nature. Human resource on contrary is accountable for controlling a workforce as one of the main resources that contribute to the development of an organization. It is the duty of the human resource department to know how the workforce can be managed to bring about enhanced productivity and profitability in an organization. In coca-cola Company, high productivity and profitability are normally experienced due to flexibility (Rainey 2009).

• Flexibility at work

Flexibility at work refers to how quickly a system and labor process restructuring can be changed in order to enhance versatility in design and greater adaptability of modern technology in production. It is either an essential requirement to stay in the international market or a way by which the employees’ rights are violated. According to Rainey (2009), organizations should get to the grips with flexibility, not only in addressing the problems facing the business and coping up with legal regulations but also in reacting to work force’s diversity and labor market tightness. Flexibility displays how flexibility’s benefits of a business can be attained via an approach that addresses the requirements of a worker and the organization (Taylor, 2005).

• Labor market trends and flexibility

Taylor (2005), observes that the current and forecasted labor market trends are characterized by enhanced polarization and segmentation among many nations and in national labor markets. Unemployment in many European nations is projected to exceed that of North America rate by big margins. Nations with high unemployment are likely to experience constant increase while nations with comparatively low unemployment rate are likely to decline further. Long-duration unemployment and excess of youth over the entire unemployment rates are more serious in nations with the high unemployment rate (Pulignano & Stewart, 2008).