Labor Market Research for Development - MyAssignmenthelp.com

Question: Discuss about theLabor Market Researchfor Improvement and Development. Answer: Introduction The industrial relations of any organization are considered as the primary source of improvement and development. It helps in defining the positive perspectives on a strong level. The industrial relation of Singapore mainly focuses on the tripartite methods of managing the relations. In the tripartite process, the labor movement, government and employers combine together to achieve the organizational success and competitive advantages. The combination of ministry of man-power, NTUC and other aspects are identified as the most important perspective, which helps in providing assistance for the developmental and competitive scenarios connected to the organization. The industrial relations of Singapore are more strong and stable. To manage the flow of stability in a definite manner, the key players are essential to be identified. These key players are identified as the ministry of manpower, management and employees. The report shown below mainly covers the critical analysis of four key p layers, analysis of the competitive advantage and ends with the suitable conclusion (Sheldon Morgan, 2015). The scope and significance of this research work is that it helps in providing assistance for the process of improvement in the competitive analysis. After conducting the process of research work, the coordination of labor management relation in reference to Singapore can be identified at an initial level. Apart from this, the specific piece of work will also help in providing assistance for an improvement and definite processing in the correct manner (Gan, 2017). Role Analysis of 4 Key Players The labor management relations are mainly helpful in focusing the major aspects associated with the employees and the organization. To manage the coordination and working strategy of the organization, the LMR is essential to be identified. The increasing pressure and competitive environment are identified as the major negative causes, which affects the employee and the labor relations in an elaborate form. The four key players are considered as the main catalyst for the labor management relations. These four key players are named as the employers, employees, trade union and government bodies. The in-depth analysis of all these four factors will aid in identifying the employee and labor relations in a broad form. The first critical discussion relates to the employees. The employees are identified as the key source of organizational development. The HR consulting firms play the most important role in promoting the business perspectives related to the organization. To manage the employee relations, the highly motivational aspects are noticeable. To promote the most specific process related to the business, the HR consulting firms keep on preparing questionnaire and feedback forms for the employees. Through these forms, the employees can deliver their thoughts. This will also help in the promotional aspects. On an employee level, motivational and training programs are conducted by the HR consulting firms. They also contribute in managing the workplace environment of the Singapore. The best approaches framed by the employers and HR level will be helpful in creating more focus on the developmental perspective. The stabilization of the country can be achieved with the help of this aspect (Hawke, 20 07). The second discussion is mainly focused on the employers. The specific employer federation is identified in the Singapore, which are mainly working for the rights of employers and also provide them assistance for the suitable development and growth perspectives. The SNEF, Singapore national employee federation is considered as one of the basic organizations which assists in providing the support for employers. The different set of training and development programs are mentioned on the wide landscape. The mission of the organization is to enhance the tripartism and boost up the labor market flexibility on a definite level. The SNEF owned membership of about 3000 organizations which may also help in providing assistance. The large scales of services are provided to the organizations which are named as the operations and logistics, finance, human resources and information technology. The specific assistance with these services will partially help in improving the current business perspe ctives related to the organization. The employers who want to initiate with new services and procedures can also take assistance from the workplace safety and healthcare. The definite set of rules, regulations and specific policies are mentioned in the development of current aspects linked to the organization (Loh, 2015). The third phase of discussion is mainly managed by the trade unions. Like every country, the Singapore also possesses its specific trade union. These trade unions are helpful in focusing on the rights of the candidates in a broadened form. The trade union is named as the National Trade Union Congress (NTUC). This union help in providing assistance for the professionals and specific partners across the Singapore. The trade unions are also helpful in supporting various perspectives related to the organizational goals and objectives on the private and public level. To manage coordination between the different nationalities, gender and living standards are considered as the primary targets of the organization. Apart from providing assistance related to the economic aspects and equality services, the NTUC also works for working class families of Australia. Raising their living standards, to manage their working criteria and to provide them with specific assistance is managed by NTUC. This will be help in managing the competitive environment on an organizational level (Lazear, 1991). The fourth supporting aspect related to the organization is considered as the government bodies. The ministry of manpower commonly called as the MOM, mainly identifies for implementing the labor policies on a large scale. The rights and specific management process related to the labors can be managed with the help of this ministry of manpower. MOM is identified as one of the developed organization, which helps in generating the 360 degree feedback. The vision of the organization is mainly identified for The great workforce and great workplace. By following this mission, it could become possible to manage possible perspectives for the improvement and development. MOM also claims personally that the self-employability and specific programs designed by the government bodies will aid in promoting various aspects related to the organization. To manage an identity of the country on a global level, various programs are also running which are identified as the self-employability programs, ad ult training and development programs, organizational development programs and other developmental programs related to the growth of the country. Analysis on Competitive Advantages The analysis of the competitive environment in Singapore is identified as the most specific opportunity which may help in providing assistance for the collaboration and coordination among union. The three aspects which are mainly identified for the competitive advantage are named as the tripartism, national wage council and flexible wage system. All these aspects will assist in providing support for the development and growth on a wide level. The tripartism is considered as the combination of three major structures of the Singapore, which are named as the MOM (Ministry of Manpower), National Trade union congress (NTUC) and Singapore National Employers Federation (SNEF). The combination of all these perspectives will help in providing suitable assistance in the correct direction (SNEF, 2017). With the help of tripartism, it could become easier for job recreation, rising effective age related to the retirement and management of the flexible wage system. By adapting this mechanism of tripartite factor, it could become possible to generate the flexible system related to the organization. This will also help in providing assistance for the management related perspectives. The economic aspects and share contribution of the different organizations on a different level is also growing in an organized manner. The tripartism may also help in managing the unemployment rate and average labor productivity. To manage the sequence on al l these levels, it becomes essential to look forward with a specific strategy and procedure on the wide level. The tripartism also works in coordination with the different government bodies. This coordination will be helpful in providing the most specific platform for managing the competitive advantage in a structured format. Other than this, the tripartism may also be considered as the key source for identifying the organizational developments (Wong, 2015). The second aspect is identified as the flexible wage system, which helps in improving the current aspect of the organization. The flexible wage system is considered as the process, by which the organizations can adjust their specific wages system as per the requirement of economic downturn. The flexible wage system may also help in providing specific assistance for the improvement of managing the wage system related to the different organizations. This feature shows a huge contribution in the economic development of the country and also provides satisfactory results in managing the daily wages of the employees. The developmental aspects can also be fulfilled by introducing the concept of the annual variable component (AVC), Monthly Variable Component (MVC) and special consideration is also provided to the definite type of constraints on a large level. Apart from this, the flexible wage system may also help in introducing the concept of definite framework and strategic approach toward s the wage structure associated with the organization (Leow Khew, 2013). The coordination and specific management task may become easier with the help of flexible wages system. The third aspect relates to the national wages council. This organization may also help in promoting basic aspects connected to the organization. The competitive advantages and increment in the specific scenario is also helpful in managing the economic development related to the society. The increment in the real wages system and allotment to the workers with a definite set of strategic approach is considered as one of the most organized approach. The suitable assistance and services are provided on a wide level by the national wage council. This will help in managing the basic improvement process connected to the organization. The protection of the rights of customers and management of financial perspectives is identified as the major source by which definite goals can be achieved. The level of competition is also high in the country as there are various organizations coming up with a definite approach. In reference to the LMR, there are various works and approaches planned on an or ganized level (Ministry of Manpower, 2010). The global competitive index of the organization is also static and stable in comparison to the other countries. By this, it becomes tougher to identify the actual position of the country in comparison to the developmental process of other countries. So, in contrast to LMR, it is essential to look forward for more scope and strategy. There are various different businesses, which mainly supports direct foreign investment (Lim, 1999). This will also help in providing assistance for improving the business perspectives. This increment in the business will simultaneously create a positive impact in the competitive environment for an organization. Conclusion The report shown above is successful in defining major goals and objectives related to the organization of Singapore on a large level. The labor management relations are considered as one of the specific issues to be discussed commonly. To identify specific characteristics related to the country, it is essential to identify economic index, developmental ratio and international image of the organization. Apart from this, the coordination and approaches related to the labor management relation are also considered as the most managed factors, which helps in providing economical and developmental aspects. It is also recommended that suitable and planned decisions for the labor employee relations should be focused. The broad expansion of the international process and other aspects may also improve with the help of positive labor employee relationship. So, it is essential to switch the focus in a correct manner. Apart from this, the continuous improvement strategy and developmental plans a re also introduced in the correct mode to compete in such a competitive environment. References Gan, B. (2017). The Singapore National Employers Federation (SNEF) and Singapore's Industrial Relations. Retrieved from https://www.researchgate.net/publication/267218853_The_Singapore_National_Employers_Federation_SNEF_and_Singapore's_Industrial_Relations Hawke, L. (2007). Performance Budgeting in Australia. OECD Journal on Budgeting, 7(3), 1-16. Retrieved from https://www.oecd.org/australia/43411866.pdf Lazear, E. (1991). Labor economics and the psychology of organizations. The journal of economic perspectives, 5(2), 89-110. Retrieved from https://unionstats.gsu.edu/9220/Lazear_1991.pdf Leow, L., Khew, E. (2013). Implementing Flexible Wages A Guide for SMEs. Retrieved from https://www.mom.gov.sg/~/media/mom/documents/statistics-publications/flexible-wages-for-smes-english.pdf Lim, C. (1999). The national wages council: a keynote address. pp. 3-7. Retrieved from https://www.worldscientific.com/doi/abs/10.1142/9789812815644_0001 Loh, D. (2015, April 28). Tripartism key in managing industrial relations: Lim Swee Say. Retrieved from https://www.channelnewsasia.com/news/singapore/tripartism-key-in-managing-industrial-relations-lim-swee-say-8261886 Ministry of Manpower. (2010). Flexible and Performance-based Wage Systems. Retrieved from https://www.tripartism.sg/assets/files/Archive/Flexible%20and%20Performance-based%20Wage%20System%20-%20STF%20IR%20Seminar%20(15%20Nov%202010).pdf Sheldon, P., Morgan, D. (2015). Making Singapore's tripartism work (faster): the formation of the Singapore National Employers' Federation in 1980. Tripartism in Comparative and Historical , 57(3), 438-460 . Retrieved from https://www.tandfonline.com/doi/abs/10.1080/00076791.2014.983484?journalCode=fbsh20 SNEF. (2017). Workplace safety and health. Retrieved from https://snef.org.sg: https://snef.org.sg/incentives/workplace-safety-and-health/ Wong, B. (2015, October 29). The Importance of Tripartism in Singapore. Retrieved from https://medium.com/@benjywong/the-importance-of-tripartism-in-singapore-447638b4680c