Present Labour Market Trends and Future Market Data - Desklib

This report sheds light on the real estate industry in line with the labor market trends. It elaborates several factors such as labor market data of the country, the relevant and major changes over the past five years and the impact of different factors.

Running head: PRESENT LABOUR MARKET TRENDS AND FUTURE MARKET DATA
PRESENT LABOUR MARKET TRENDS AND FUTURE MARKET DATA
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Author Note

1PRESENT LABOUR MARKET TRENDS AND FUTURE MARKET DATA
Topic: Current labour Market trend of the company and challenging factors of a real
estate organisation and changes in labour market composition.
Introduction
Construction market development helps the economic structure of the nation and
provide a multi-dimensional opportunity that attributes the scope and chances for business.
The shape and structure of the submarkets are high in that case and the changes in moderate
sections are noticed tersely due to price section and independent trade functioning. The
impact of environmental factors are also liable in that case and ethical consideration from the
government is important for aligning the process is a legitimate way. The foreign investment
review board addressed that construction industry such as real estate approvals in Australia
are lagging behind in the 2016-2017 period. 40,134 approval was granted which sum up of
AU$72.3 billion and on the other hand, in 2017 AU$ 23.3 billion had collected, which is
lagging down an aspect of real estate (Line& Runyan, 2012). The downfall in the housing
market in Australia is very transparent and that will showcase the disaster situation of
housing and constructing industry positioning of Australia.
In this case, the chosen organisation is Lendlease Company and aspect of civil
engineering is aligned with that (Lendlease.com,2018). The process of property and financial
industries are important in that case and labour market challenges are highlighted in that
aspect.
Part 1
1. Labour market data of the country
The labour market in Australia is the quarterly basis and there is some employment
growth as well. In the case of Financial and Insurance services, the management of employee
inclusion raises up to 9.6% and rental, hiring and real estate services employee engagement is

2PRESENT LABOUR MARKET TRENDS AND FUTURE MARKET DATA
less than 20, 000. In the case of other service industries, a huge investment of employees is
noticed (Preis, Moat& Stanley, 2013). The employment rates are increased by 5.9 and people
are not interested in this kind of work culture. The largest decrease in employment had
noticed in the year 2016 and the labour market was not at the stable position.
State/ Territory NSW VIC QLD SA TAS
Construction industry 1.7% 1.4% 2.3% 1.5% 1.9%
The engagement with employees in construction industry is very less and healthcare
industries and social assistance cases people are very interested and associated as well.
Labour force participation and the full-time association is the key issue in that case and
people. In the case of Lendlease, the profit after tax is $694.4 million in FY16. The earnings
before the interest tax depreciation are 1,055.1 million and return to equity is 12.3 % at the
same year. All these aspects provide market capitalism and engagement of employees in real
estate industries is important for the companies earning security investment (Meng, 2012).
2. Relevant statistics at the sector
Construction Industry
Revenue $17bn
Annual Growth 5.5%
Employment 110, 609
Business 38,961
The industry growth has supported by the rising house prices and low-interest rates.
The initiation by the government is important in that case and the commercial property
market had a huge downfall in the Australian market. An estimated amount of $24.34 was

3PRESENT LABOUR MARKET TRENDS AND FUTURE MARKET DATA
spent for labours and employees' performance, the labour –intensive approach is the main
aspect of this process.
3. Pinpoint changes in last 5 years
3a. Globalisation
The aspect of globalisation can be identified in case of construction industry from two
different angles. The first one has related to the convergence of the global market and another
one is the growing importance of global hubs. The small countries of the world are playing
the global role in case specific structure of construction management decisions are taken. For
the retail properties, global transportation and in global cities have been connected. The act
enhances the global economy as well. The investment in that case and the economic
difference is very transparent in that case as well (Frey& Osborne, 2017). The main
advantage of the investment is the product availability and distribution in many places in the
world and products are equally available in many cities and that enhancement the business
productivity and revenue generation. The impact of globalisation on office, retail places and
logistic operations are associated with transactional activities and technical parameters are
there for the support.
3b. Changes in economic structure
The economic structure is also associated with the process and in the case of real
estate industries, economic changes are impacted on the valuation and advertisement. In case
of problem situations, real estate companies are formulating their strategy to remitting to the
owner on an agreed basis (Rothstein, 2012). The cataloguing and detailing land and building
making cases, the development of tenancy and the proper budgeting is the key alternatives
that change economic output also. There are many ranges in finance and conveyance

4PRESENT LABOUR MARKET TRENDS AND FUTURE MARKET DATA
maintenance in construction buildings but the aspect of economic changes is the right reason
for the real estate companies in Australia.
3c. Technological advancement
The technological progress is one of the driving forces in business innovation in the
construction related process. The trends in the market and future chances are making the path
for the information development. There are certain mistakes as well from the organisational
at the initial level when they are not technologically strong but after that, the time come when
the entire operation is formulated by the energy is directed in the positive segments (Deming,
2017). There are some current trends in business in e-commerce and that provide shape in the
construction business.
 The office technology improvement and hi technologies are used for the operating
cost are important in that case, that consequences in logistic and distribution channel.
 The technologies are implemented in case of creating smart buildings and good
communication technologies and good quality of process enhancement is important in
that case.
 The rapid increase of sales and product marketing in most of the areas are
highlighting the impact of the e-commerce business(Deming, 2017). In most of the
cases, the profound impact has been found and that is the reason technological
sustainability and solvent nature of the business is crucial in that aspect.
3d. Innovation
Innovation in the retail industry is important and this is completely different from a
modern perspective. There is some tech-savvy millennial, which are now customer based and
industry is starting from that section. 71% of digital change has come up after the customer
need and that encourage the property generation and increase the future development aspect

5PRESENT LABOUR MARKET TRENDS AND FUTURE MARKET DATA
in construction business companies(Rothstein, 2012). The visual showcasing and risk-taking
situation and project management in addition to artificial intelligence is the main reason that
encourages the shifting alignment and creates building in new forms. The concept of smart
homes has come in this process and that will provide an estimated reach of the country
$122.34 billion by 2020 in this particular sector. The cloud-based advancement and
redefining appraisal space in building in USA or Enetiv in the USA, Foyr in India, No Agent
in the UK, Purplebricks in Australia, and VR Listing in Canada are the innovative options
that create history in world construction business aspect.
Part 2
a. Impact of several factors on Lendlease Company over last five years
There have been several factors affecting the growth of the company. The factors are
in terms of political, economic, technological, and social and so on. The impact of these
factors has been very significant over the business process of the company.
Political factors: In order to discuss the influential factors of the company, it must be
said that the government of Australia has a transparent legal system which has been very
beneficial for business world. The political condition of the country is extremely suitable
for the growth of economy (Lendlease.com.2018). It has been seen that compared to other
countries, the political situation of the company is in advantageous position for business
which is one of the most desirable criteria of every companies in order to set up the
business of the company. The flexible trade rules and regulations of the company benefit
the business of the company at a greater scale.
Economical factors: The growing economy of the country is one of the most beneficial
factors that bring benefits for the company. All the business sectors of the country are

6PRESENT LABOUR MARKET TRENDS AND FUTURE MARKET DATA
increasing including the labor market of the company. The construction industry as well
as the sector of construction is increasing in a rapid pace (Lendlease.com.2018). Thus the
industrial growth of the country creates a demand in the market which Land lease has
been satisfying successfully over the years.
Social factors: while discussing the major factors that had a significant impact on the
growth of the company, it must be mentioned that a large amount of talent pool can be
done from the country. The construction industry gives a huge opportunity to a number of
people by providing a huge number of employment.
Technological factors: The entire real estate and construction sector has been blessed by
the modern technological innovation (Lendlease.com.2018). Thus, the technological
innovations open up a wide range of opportunities for the growth of the company.
Technological advancements will help the labour market to work in a more safer
environment.
b. Factors may influence Lendlease Company for coming years
One of the major factors which will have a positive impact for further
expansion of the company is the increasing demand within the industry. Since Australia
falls under the developing countries, there demand of construction is high thus it will
create huge opportunities for the company. Global trend is one of the most influencing
factors on the company and its strategy. In this regard, it must be mentioned that
increasing urbanization is one of the major influencing factor towards the growth of the
company. The growing social trend of customized construction will be impacting the
company while opening up large scopes for the company (Lendlease.com.2018).
Meanwhile there can be some factors which can be have adverse effect on the company,
such as changes in trade rules and regulations and a change of ruling party in government.

7PRESENT LABOUR MARKET TRENDS AND FUTURE MARKET DATA
Part 3
Investigate interview with the manager of Lendlease Real Estate Company
Q. What are the major trends observed in the industry in which the company operates in?
An: Increasing rate of urbanizing has been impacting the company to a considerable rate.
Q. What are desirable skills required in terms of employment?
Ans: Since the business world is changing day by day, professionals must have a positive
attitude in order to cope up with the evolving trends of the industry.
Q. How do you set your strategy for the growth of the company?
Ans: Considering the global trends in relation to the industry, strategies are being set. In
addition to that current market requirements are considered while developing the business
strategies.
Q. What are the impact of the economy and political situation of the country on the
company?
Ans: Since Australian economy is one of the largest economies in the world, the company is
grossly benefitted. Similarly, the political condition of Australia is stable which positively
impacts the operation of the company.
The above interview with the managerial professional of landlease reveals the major
influencing factors on the company such as urbanization, social trends. Meanwhile, the
interview also states that the political condition as well as the economy of the company is in
favorable situation for the company.
Q. What are the skills required to get a job in the construction industry?

8PRESENT LABOUR MARKET TRENDS AND FUTURE MARKET DATA
Ans. To be an effective leader or employee in the construction industry the following skills
are required:
 Team management
 Negotiation with the suppliers and other stakeholders for the betterment of the
organization.
 Personnel management, this means how the leader understand his employees are
manages them accordingly.
 Risk management, the construction industry is related with high level of risks. The
employee and the leader should be capable of taking high level of risks.
Conclusion
To conclude it will be apt to state that the report exclusively sheds the light on the real
estate industry in line with the labor market trends. The whole course of the discussion
elaborates several factors such as labor market data of the country, the relevant and major
changes over the past five years and the impact of different factors. Meanwhile, the second
part of the discussion sheds light on the influencing factors over the past five years and the
impact of different factors in the coming five years.

9PRESENT LABOUR MARKET TRENDS AND FUTURE MARKET DATA
References
Deming, D.J., (2017). The growing importance of social skills in the labor market. The
Quarterly Journal of Economics, 132(4), 1593-1640.
Frey, C.B. & Osborne, M.A., (2017). The future of employment: how susceptible are jobs to
computerisation?. Technological forecasting and social change, 114,.254-280.
Lendlease.com (2018) Lendlease retrieved from: https://www.lendlease.com/[Accessed on
11th July, 2018]
Lendlease.com. (2018). [online] Available at:
https://www.lendlease.com/-/media/llcom/investor-relations/asx-announcements/
2016/19082016-asx-lendlease-annual-report.ashx [Accessed 12 Jul. 2018].
Line, N.D. & Runyan, R.C., (2012). Hospitality marketing research: Recent trends and future
directions. International Journal of Hospitality Management, 31(2),.477-488.
Meng, X., (2012). Labor market outcomes and reforms in China. Journal of Economic
Perspectives, 26(4), 75-102.
Preis, T., Moat, H.S. & Stanley, H.E., (2013). Quantifying trading behavior in financial
markets using Google Trends. Scientific reports, 3,.1684.
Rothstein, J., (2012). The labor market four years into the crisis: Assessing structural
explanations. ILR Review, 65(3), 467-500.

10PRESENT LABOUR MARKET TRENDS AND FUTURE MARKET DATA
Appendix
Interview
Q. What are the major trends observed in the industry in which the company operates in?
An: Increasing rate of urbanizing has been impacting the company to a considerable rate.
Q. What are desirable skills required in terms of employment?
Ans: Since the business world is changing day by day, professionals must have a positive
attitude in order to cope up with the evolving trends of the industry.
Q. How do you set your strategy for the growth of the company?
Ans: Considering the global trends in relation to the industry, strategies are being set. In
addition to that current market requirements are considered while developing the business
strategies.
Q. What are the impact of the economy and political situation of the country on the
company?
Ans: Since Australian economy is one of the largest economies in the world, the company is
grossly benefitted. Similarly, the political condition of Australia is stable which positively
impacts the operation of the company.
Q. What are the skills required to get a job in the construction industry?
Ans. To be an effective leader or employee in the construction industry the following skills
are required:
 Team management

11PRESENT LABOUR MARKET TRENDS AND FUTURE MARKET DATA
 Negotiation with the suppliers and other stakeholders for the betterment of the
organization.
 Personnel management, this means how the leader understand his employees are
manages them accordingly.
 Risk management, the construction industry is related with high level of risks. The
employee and the leader should be capable of taking high level of risks.