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WA Economy: A Survey of Workforces in Business and Industry

   

Added on  2020-06-06

22 Pages3747 Words464 Views
Undertaken Research on WA Economy

Table of ContentsINTRODUCTION...........................................................................................................................1QUESTION 1...................................................................................................................................1QUESTION 2...................................................................................................................................5QUESTION 3...................................................................................................................................8TASK 1............................................................................................................................................9REFERENCES .............................................................................................................................20Illustration IndexIllustration 1: Employed person trend..............................................................................................3Illustration 2: Top five share of employment by sex and industry- 2015........................................3Illustration 3: Retail Trade, Australia, May 2017............................................................................5Illustration 4: Fluctuation rate of XYZ Retail industry.................................................................10

INTRODUCTIONHuman resources are an essential part for every organisation. Businesses manages theirworkers in the manner so that it can achieve its future goals effectively Townsend & Wilkinson(2014). This report describes the role of Western Australian economy which make great impactin the growth of retail industry. By taking XYZ as a retail company, it analyses the severalfactors which make great impact on hiring of employees in their organisation. It also describesthe industrial relation which are performed by HR practitioner who is appointed in the retailindustry in which employers’ rate falls under Federal IR system. Furthermore, it also explains therole of communication for employee retention in an organisation. There are many steps whichare followed by the HR to evaluate the changes in a business will also presented in the report. Atlast, it also analysis the demographic structure of Citi stores in the report.QUESTION 1Western Australian Economy offers great support for the development and growth ofnation by reducing the number of unemployment. As per research, in 2016 activity which isfollowed in WA economy shows the disaster for the nation's growth. There are various factorswhich make great impact on labour supply for XYZ retail company. Company have objectivessuch as customer satisfaction, acquiring right products, products display, selecting theappropriate layout and location etc. For securing the planned growth XYZ retail companyincreases the workforce by hiring the skilled person which have specific knowledge to handle allthe disputes in a workplace Wilkinson, Donaghey, Dundon & Freeman (2014).Retail industry also face the problems of shortage of skills which make negative impactfor its planned growth. XYZ retail industry analysis its current position that 2300 employeesworking in their organisation but only 1750 employees have sufficient skills which is suitable fortheir occupation. In respect to this, industry need to hire skilled person so that they will performbetter. In Australia, the current trend of retail industry is based on age, gender, qualification,employment type etc. It makes great impact in the planned growth of retail industry Solnet, Kralj& Baum (2015). As per International Labour Organisation, people which 15 years over ageperformed any work in specific period on the place of paid, temporary employees. Labour forcesurvey finds that people are those aged 15 years and over worked one hour and get more pay,1

profit in a business. Australian and New Zealand Standard Industrial classification, 2006classified the structure of labour in four groups:Division (the Broadest level or contain 1 digit)Subdivision which contain 2 digitsGroup which contain 3 digitsClass with the finest level or 4 digitsIn 2015 and same quarter of 2016 shows the trend of employed people which are as follows:2

Illustration 2: Top five share of employment by sex and industry- 2015(Source: ABS, Labour force, detailed, quarterly, February 2016)3

Above graph and table shows the original data which describes the industry employmentas a proportion of total male or female employment. Hence, qualification of person and theiremployment types make great impact in supply of labour in retail industry Varma (2013).On the other hand, due to changes in mining industry and structure of government willalso make great impact on retail industry development. As per the research, it analysed thatincreases in mining process help the economy for increases its growth. It makes a dramaticimpact on local retailers because Australian dollar is above parity on mining boom. It can be saidthat overseas order and highly demand the Australian resources which make positive impact ontheir currency that value of dollar will go up like a helium balloon.Changes in government structure will also affect retail industry. There are many federalentities in which retailers deal such as US department of labour or DOL, Federal tradecommission etc. Changes in legislation fluctuation in tax, service duty will affect the value ofretail products. As per the current the retail trade in Australia are as follows:4

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