Labor supply analysis
The research from Chandler Macleod Group (CMG) indicates that due to the global financial crisis and ineffective communication, employees are facing redundancy risk from employment, within a large number of them are planning for a new job. Based on the articles, there are two main types of job suppliers who are admin staff and generation Y facing the risk of employment. According to Olsen (2010) states that as a result of the employer’s insufficient treating; over half of the administration and office workers are planning to hunt for a job opportunity. On the contrary, most of reception staff choice to stay because of the encouragement and compensation from employer. Meanwhile, Clarke (2010) points out that the employment market of generation Y is negative. Although Australia workforce is confronted with ageing problem, the employers are still tend to engage older workers, because they can overcome the skill shortage problem and avoid career development issue. Labor demand forecasting
Over 30% of the employees in financial industries are deal with the change of employment market, which is job redundancy (Author, 2009). He also states that the most of employees who suffered this pressure are looking for a job vacant in short possible period. What is more, David Reynolds, the consultation executive general manager, predicts the future prospect is no optimistic resulting from the economic downturn (Author, 2009). Meanwhile, based on Clarke`s (2010) survey, it is obvious that the insufficient talent measures from employers and continuing professional skills shortage result in nearly a quarter of the financial and accounting workforce drained away. Refers to the analyzing and forecasting of ANZ bank Australia, Author (2009) indicates that the job demand of new requirement in Australia is considerable great nowadays. What the employers need are workers with economic downturn experience and skills relate to present situations, including...
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