Report on Labour Market Analysis and Talent Planning at LGC

This report examines the talent and succession planning strategies of Look Great Cosmetics Ltd (LGC), a North London-based company with physical and online presence. It begins with a labor market analysis, exploring reasons for conducting such an analysis, including addressing employee issues, identifying trends, and determining skills gaps. The report then outlines performance criteria for evaluating the effectiveness of LGC's talent management, considering monitoring, temporary recruitment, employee interaction, and succession planning. Furthermore, the report includes a reflective log detailing the interview and recruitment process, highlighting challenges, strategies, and areas for improvement in identifying and selecting suitable candidates. The report concludes with a summary of findings and recommendations for LGC to enhance its talent management practices.

Employability Talent

Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1. Reason for conducting labour market analysis for the firm....................................................1
2. Performance criteria for judging effectiveness of LGC long and short-term talent and
succession planning.....................................................................................................................2
TASK 2............................................................................................................................................4
Reflective log...............................................................................................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Main focus of companies around the world is to gain maximum profit. In this process
they aim at understanding the needs and requirement of customers so that strong base of service
users can be developed (Tuliao, Najjar and Torraco, 2017 ). The rate of competition is high and
firms focus on attaining competitive advantage. For this, they make use of strategies and it
requires to have proper support from the side of workers so that they are able to support the firm
to grow. This report is focused on case scenario of Look Great Cosmetics Ltd (LGC) which is
based in North London. There are about 20 physical shops across London. Further, they also
deliver online services to customers. This report covers reason for conducting labour market
analysis within organization. Further, it includes performance criteria used to judge the
effectiveness of LGC’s long and short term talent and succession planning.
TASK 1
1. Reason for conducting labour market analysis for the firm
Different people have diverse set of perception for the business operations that are carried
out. It is important for the business to make sure that they have proper understanding for the
preference of employees. In this context, below given are the reasons for conducting labour
market analysis for the firm:
Problems faced by workers: Employees within the firm facing different type of problems.
They are the one who have direct interaction with customers (Brown, Power and Allouch, 2016).
When they do not perform their set of roles in effective manner, then it affects the business in
negative manner. In this context, with the help of labour market analysis, it enables to analyse
the issues that are faced by them.
Identifying trends: Changes take place within taste and preference of customers. It is
important for the business to make sure that they are able to implement the change in effective
manner. For this respect, the labour market analysis helps to understand the set of changes that
customers prefer. As per the findings, made appropriate steps can be taken.
Identifying positions: There are goals and objectives that are set by the business so that
employees can develop path on which they can attain them ( Krishnan, Gadar and Shahidan,
2017). All employees need to have proper understanding about the set of roles and
responsibilities that has to be played by them. The performance of all the workers can be
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analysed in effective manner. Further, the areas in which they lack can be identified and training
can be delivered to them.
Hiring workers: Different types of post are available and each of them needs to perform
their job effectively and efficiently (Brown, Lauder and Sung, 2015). With the help of labour
market analysis, management of the firm is able to determine the people who will be favourable
enough to perform the roles in effective manner.
Analysing motivation level: Motivation plays vital role in developing interest and
willingness towards the work. When an employees lack this, then they fail to put on their full
efforts for the work they have to perform. There are certain set of expectations that each of the
worker and it can be analysed efficiently with the help of labour market analysis (El Mansour
and Dean, 2016). There are different types of motivational theories that are available and these
can be implemented by LGC so that the performance level of workers can be improved.
Determining skills: Each and every employee possesses their own set of skills and
capabilities. In order to perform the role properly they need to have appropriate skills. Through
labour market analysis, management is able to understand the set of skills and capabilities that
each of the worker possesses (Dowdeswell and Martin, 2016 ). Further, there are also conditions
in which they are able to identify the shortage of employees and they can conduct recruitment
and selection process so that suitable candidate can be hired.
Gaps among staff: There are conditions in which conflicts that place within workers.
With the help of labour market analysis, management is able to understand the set of issues or
problems that are faced by each of the employee for others (Harun, Salleh and Memon, 2017). In
accordance with the findings made, it is favourable enough to for the business to take up
appropriate steps so that they are to overcome the conflict situations that are faced by them.
Majority of the workers at LGC are experiences but old and so there may be some kind of issues
that will be faced by them.
2. Performance criteria for judging effectiveness of LGC long and short-term talent and
succession planning.
There are different type of steps that can be considered in order to determine the long and
short term talent and succession planning. Both short and long term planning are highly
important for the firm to consider as it enables to attain the goals and objectives in effective
manner (Potgieter and Mawande, 2017). The cost of the worker that has to be provided by the
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firm will get raised and it is important that appropriate steps are taken so that they are able to
provide wages and use of technology is made to increase the opportunities. In this context, below
given are the ways or strategies that are implemented by the business to judge the effectiveness
of LGC:
Monitoring: It is important for the business to have appropriate monitoring so that they
are able to identify the areas in which improvement need to be made ( Tuliao, Najjar and
Torraco, 2017). Further, the firm can also make appropriate analysis so that suitable workers are
hired who can support the business to achieve the desired goals and objectives.
Temporary recruitment: In order to attain the short term goals, recruitment need to be
made so that individuals are hired who can support the firm with their full efficiency. This way,
they are able to complete their work to achieving the short goals.
Interaction with workers: It is the responsibility of the management to have healthy
interaction with each other. This is helpful to develop strong relation with each other. When firm
has healthy relation with employees, then they develop trust and confidence with them (Brown,
Power and Allouch, 2016). They share the problems that they face and accordingly appropriate
steps are taken by the business.
Succession planning: In order to implement any type of plan, it is important to have
activities that are set so that the goals that have to be attained can be achieved. Proper planning
needs to be made and this requires appropriate availability of financial support.
There are different types of benefits that management gets when then have right
employees for the job. In this context, below given are their importance :
Improved performance: Workers when hired as per their type of performance, then they
are able to put on their full efforts with the help of which the performance of the business gets
positively affected (Krishnan, Gadar and Shahidan, 2017 ). The type of work that has to be
performed by them gets improved and this way the sales and profitability increases.
Team work: When a work is performed by a person, then the time that is taken will
always be high when compared with a groups that performs same task. When right workers are
hired, then they are able to work with others a team and this positive affects the business in
effective manner.
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Job satisfaction: Employees who are able to perform effectively have high level of job
satisfaction (Brown, Lauder and Sung, 2015). Workers are satisfied with the work they perform
and they contribute positively.
TASK 2
Reflective log
In order to conduct the interview, it requires to have appropriate steps that have to be
made by me. In this context, at the initial stage I develop goals that I had to focus. This way, I
was able to understand the steps that have to be considered. To conduct the recruitment, there are
supports of people required as there are many operations that have to be conducted. It is
identified that for the form if only one person is required, then there are application that can be
received is up to 50 or it can be even more (El Mansour and Dean, 2016). In such situation, there
are different levels planned so that all the people who involved can be eliminated and most
suitable candidate can be selected. At the initial stage, it was important for me to make analyse
the resumes that were received. All the resumes or candidates were eliminated who do not suit
with the post as per their qualification. After the elimination, people selected are called on group
discussion. In this round all the individuals are grouped and they are given with a topic on which
they have share their view (Dowdeswell and Martin, 2016 ). This is done so that the knowledge,
confidence and communication can be analysed.
The candidates who perform well are selected and they are called on for final round and
that is the person interview. All the personal interviews were conducted by me and this is helpful
enough to know the knowledge, skills and capabilities that each of them possess. The
information provided by them is matched with the vacant post (Harun, Salleh and Memon,
2017). One of the issue that I faced in selecting the most suitable candidate for the position.
However, I make use of note book in which each one was ranked in the basis of knowledge,
confidence level, understanding, etc. the person was highest ranked was selected for the post.
In all this process, there are two important aspects that are required, these are financial
and human resource support. It requires to have appropriate planning to be made so that that for
each of the activity cost incurred can be managed. Further, for all the rounds that included in the
recruitment process consist of people to be involved so that the set goals can be attained with
their support (Potgieter and Mawande, 2017). Apart from this, there are many type of skills that
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is important for me to have so that I can select the most suitable candidate. More specifically, it
requires to have effective communication skills so that strong relation can be developed. This
way, it becomes helpful to understand the set of skills and capabilities that each of the candidate
possesses.
One of the best thinks that went well that the cost that was decided did not exceed. In
other words, all the activities that were set by the business were not effective enough for the
business to operate in effective manner. On the other hand, the only think that did not went well
is related the total time that was taken to carry out all the process. In order to improve the job
interview, one of the best things that could have need done is in relation with proper
management to time and division of work to others. If this would have done properly, then the
total time that had consumed for recruitment and selected process would have reduced.
This way, it can be stated that all the operation and the steps that were included in the
process of recruitment was effective enough and it helped in determining and selected suitable
candidates who can support the business to achieve their business goals in positive manner.
CONCLUSION
From this report, it can be concluded that management need to have strong relationship
with employees. This is possible when they understand the set of problems that are faced by
them. Further, changes need to be made in relation with technology so that they are able to
deliver high and better quality services to customers. Further, workers should be monitored and
this is effective to understand the areas in which improvement needs to be made. As per the
findings made workers should be delivered with training and development as this help to raise
the skills and capabilities in effective manner.
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REFERENCES
Books and Journals
Brown, P., Lauder, H. and Sung, J., 2015. Higher education, corporate talent and the
stratification of knowledge work in the global labour market. World Yearbook of
Education 2015: Elites, Privilege and Excellence: The National and Global Redefinition
of Educational Advantage, p.217.
Brown, P., Power, S. and Allouch, A., 2016. Credentials, talent and cultural capital: A
comparative study of educational elites in England and France. British Journal of
Sociology of Education, 37(2), pp.191-211.
Dowdeswell, K. and Martin, J., 2016. Are businesses fuelling graduate talent shortages?: cover
story-talent. HR Future, 1(Jan 2016), pp.8-9.
El Mansour, B. and Dean, J. C., 2016. Employability Skills as Perceived by Employers and
University Faculty in the Fields of Human Resource Development (HRD) for Entry Level
Graduate Jobs. Journal of Human Resource and Sustainability Studies, 4(01), p.39.
Harun, H., Salleh, R. and Memon, M. A., 2017. Employability Skills and Attributes of
Engineering and Technology Graduates from Employers' Perspective: Important vs.
Satisfaction. Global Business and Management Research, 9(1s), p.572.
Krishnan, S., Gadar, K. and Shahidan, M. I., 2017. Talent Issue in Islamic Finance
Industry. International Journal of Finance and Accounting, 6(1), pp.13-18.
Potgieter, I. L. and Mawande, L., 2017. Self-esteem, employability attributes, and retention
factors of employees within the financial sector. Journal of Psychology in Africa, 27(5),
pp.393-399.
Tuliao, M.D., Najjar, K. M. and Torraco, R. J., 2017. TALENT DEVELOPMENT OF
REFUGEE WOMEN IN THE UNITED STATES. Talent Development and the Global
Economy: Perspectives from Special Interest Groups, p.41.
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