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Develop and Promote Global Undertanding of Labor Markets

This document discusses several topics related to labor markets and professional development: 1) It defines what a labor market and global labor market are, and discusses perspectives on whether globalization is positive or negative. 2) It discusses how professions develop through qualifications and regulatory bodies, as well as the importance of maintaining professional standards and practices. 3) It outlines benefits of employee training such as increased job satisfaction, motivation, and retention, as well as disadvantages like time spent training. Training can save time long-term by reducing mistakes.

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Danica Herealways
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215 views4 pages

Develop and Promote Global Undertanding of Labor Markets

This document discusses several topics related to labor markets and professional development: 1) It defines what a labor market and global labor market are, and discusses perspectives on whether globalization is positive or negative. 2) It discusses how professions develop through qualifications and regulatory bodies, as well as the importance of maintaining professional standards and practices. 3) It outlines benefits of employee training such as increased job satisfaction, motivation, and retention, as well as disadvantages like time spent training. Training can save time long-term by reducing mistakes.

Uploaded by

Danica Herealways
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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DEVELOP AND PROMOTE GLOBAL UNDERTANDING OF LABOR

MARKETS

What is a global labor market? First, we should define the meaning of a


labor market. A labor market is the relationship of communication between the
suppliers and the demanders so that they are able to do business together. The
global aspect of the labor market refers to the world and all that contribute
within this measure, also known as globalization.

Globalization is the process of integrating regions through societies,


political systems, economies, and culture to share ideas between the countries.
What is better than that? You can learn and use ideas and customs from other
countries and this process profits all that take part in it. Culturally, this is
beneficial because we are learning from other countries and bridging the gap
between countries. All around, globalization is a positive action because we can
learn from each other and better our countries with other ideas and in turn
work for the good of the whole world.

On the contrary, some believe that globalization only creates clash within
a province. With jobs being scarce in more developed countries because of the
crisis, jobs being filled by immigrants could have a negative effect on the people
of a country and with most immigrants moving to a region with a higher labor
market and better chance of earning a better wage for their families, in turn
these countries are homes for most of the migrants in the world.

Potentially, it could give people the impression that immigrants are a


negative thing. Some think that too much globalizing could give corporations
too much power in the long run because they would be trusted with too much.

With the good intentions of this global labor market idea of globalization,
I believe with a checks and balance type of system we could make it work.

Under a narrow, economic definition labour market is described as the


locus in which workers compete for jobs and employees compete for workers.
From a similar viewpoint, labour force can be defined as the number of people
employed plus the number of unemployed looking for a job. Under this
perspective it is, indeed, difficult to conceive how labour markets could ever
become really global, with workers around the globe competing with each other
for the same jobs. This could only happen if we broaden the definition of labour
market by introducing other dimensions rather than just the geographical
locus. Such components could very well include professional occupations,
skilled labour and immigration or import of labour force.

Understanding the labour market helps individuals in disappearing jobs


to recognise the value of their transferable skills. In times of major change in
patterns of labour market and job opportunity, individuals need to be aware of
these changes to enable them to adapt their learning, qualifications and career
choices.

Understanding the labour market helps individuals in disappearing jobs


to recognise the value of their transferable skills. In times of major change in
patterns of labour market and job opportunity, individuals need to be aware of
these changes to enable them to adapt their learning, qualifications and career
choices.
MAINTAIN AND ENHANCE PROFESSIONAL PRACTICE

 An occupation or trade becomes a profession, through the development


of formal qualifications based upon education, examinations, apprenticeship
and the origination of regulatory bodies with powers to admit and discipline
members, and a few degree of monopoly rights on the knowledge domain.

Fitting in is a big part of professional Practice, as it's a way to show


respect, attention to detail, and a commitment to upholding agreed practices
and values. However, "being true to yourself" is just as important. True
professionals don't follow rules mindlessly, and they know when and how to
challenge norms. They're also flexible, and they find their own ways to do
things – while still maintaining high standards

The more skilled an individual is, the more care will be expected. Every
Profession will have some specific practices and standards that they value. A
degree of responsibility and expectation comes with being knowledgeable. A
member of any profession must, within their practice, agree to be governed by
a code of ethics, uphold high standards of performance and competence,
behave with integrity and morality, and be altruistic within the promotion of
the public good Caring, competent, committed professionals collaborate to
make quality outcomes and positive influence. Furthermore, these
commitments form the idea of an understanding, or social contract, that leads
to professions, and their members, being accountable to service users and to
society.
Avoids harmful actions by embodying high ethical standards and by
clearly articulating and widely disseminating your business policies and
guidelines. Guarantees equitable services for all constituencies that's
commensurate with association standards and principles. When resolving
differences and addressing concerns. by nurturing sustainable relationships
that are respectful and transcend transactions.
Achieving success in your career requires ongoing training and
education, which is where professional development comes into play.
Also known as continuing education and professional learning,
professional development is designed to teach workers the skills
needed to succeed in their respective line of work. Professional
learning is more than just training, however, and it's important for
employers and employees alike to familiarize themselves with the
nuances between these two terms.
Professional development refers to all training, certification and
education that a worker needs to succeed in his or her career. It's no
secret that different jobs require different skills. Even if a worker
currently has the necessary skills, he or she may need additional
skills in the future. Through professional development, workers can
learn these skills to become better, more efficient workers.

While job training is an essential part of professional


development, this concept covers all forms of education and learning
that's intended to help a worker succeed. Other examples of
professional development include college studies,  online training
programs, industry certifications, coaching, mentoring and
consultation.

Of course, professional development is also beneficial for


employees. Employees that engage in professional development will
feel more confident knowing that they have the skills needed to
succeed in their line of work. If an employee lacks a particular skill,
he or she may question their work.

Employees will also become better workers through professional


development. By learning the right skills for their career, employees
will be more productive and efficient, thus helping the business for
which they work succeed. Finally, professional development can open
the doors to new opportunities for employees. If an employee is
struggling to get promoted to a higher, more lucrative position,
professional development may help him or her secure this promotion.
DEVELOP AND PROMOTE APPRECIATION FOR COST-BENEFITS OF
TECHNICAL TRAINING

One of the main benefits of employee training is that opportunities for


learning and career growth increase employees’ levels of job satisfaction. Many
things contribute to job satisfaction, but it all boils down to people being able
to feel good about what they do at work. When you invest in their training, it
shows them that they are valued by their company. It also gives them the tools
they need to grow and feel confident at their job! Job satisfaction is closely tied
to an employee’s level of engagement. When you provide learning opportunities,
your employees can apply their new skills and take on new challenges at work,
which improves their level of enthusiasm for their job.

Employee motivation, according to income, refers to “the level of energy,


commitment, and creativity that a company's workers bring to their jobs”. Like
job satisfaction and engagement, motivation has many benefits such as lower
turnover and increased productivity. Surprisingly, material benefits such as a
company car, influence motivation less than you might think. Rather,
employees want to feel empowered, valued, and inspired. Learning
opportunities and training address these, where material items fall short.

An average company loses their staff, and one method to slow this is to
provide adequate learning and development opportunities. Losing employees
comes with a big price tag. Employees take their knowledge and productivity
with them when they leave, while the company gets stuck with new hiring costs
and low morale. When you provide employees with learning opportunities, they
see that you are willing to invest in their success. This is especially true of
Generation Y who find opportunities to learn and grow extremely important. In
turn, they feel like a valued part of the company, and more empowered to do
their jobs. And employees that feel valued and empowered stick around.

Employee training certainly has a large number of benefits, but it also


comes with a few disadvantages that can become a roadblock to successful
employee training.

The time that your employee spends training is time that they spend
away from their job. It might not be possible to support a large amount of non-
work hours for your employee. However, we would argue that while training
takes time in the short run (time away from work), it will save you time in the
long run. For instance, after they complete their training they will not need to
ask others for help and are less likely to make costly mistakes. Online learning
can also help cut down on training time.

We have all heard the saying “practice makes perfect”. But, what
happens when you start to practice bad habits? Creating high quality training
materials, and finding quality instructors, is time intensive and challenging. It
might be tempting to bypass quality in favor of simplicity. But it can quickly
backfire if the training passes on bad habits and incorrect knowledge to your
employees.

From the point of view of the individual employee, there are three main
aims of training: Improve the individual's level of awareness. Increase an
individual's skill in one or more areas of expertise. Increase an individual's
motivation to perform their job well.

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