Management, Work and Society People, Management and Business Essay

Management, Work and Society People, Management and Business - Essay Example As the trade transactions have immensely increased, traders are compelled to find new sources of human power. In the words of Phillips (2009), for every business, an experienced and skilled worker is an invaluable asset and hence employers are willing to retain such employees at any cost. As a result, modern marketers offer improved worksite environment as long as possible. Similarly, the demographics factor also plays a crucial role in determining the future of work force. The UK government has also realized the increased need of human power in future so that it gives great emphasis employees’ healthcare. In addition, day to day developments in technology also greatly contributes to employees’ interests. For instance, improved technological developments minimize the workload to a large extent. The increasing participation of female workers in UK workforce also indicates a prosperous future work. With intent to improve the work future, employers have made considerable c hanges in work schedules and they pay higher attention to ensure that the implemented changes best suit the interests of the employees. In the opinion of Williams, â€Å"Foramalisation and commodification of work is seen to be increasingly taking place with an open world economy† (Williams, 2009). ... International Labour Organisation, unemployment occurs when people have no jobs although they actively searched for opportunities within the past four weeks. Evidently, employment rate plays a vital role in determining a country’s level of economic growth. A lower unemployment rate clearly indicates the faster development of the economy (Sesric reports). When the unemployment rate is higher in a country, the government is forced to declare additional incentives and subsidies in the employment sector and this situation impedes the rapid economic growth of the country. Hence, it is necessary to create adequate job opportunities in a country so as to effectively employ the maximum potentials of available human resources. However, it is observed that 2.49 million people in the United Kingdom were unemployed in 2009 and it was the highest figure recorded since March 1995. According to Office for National Statistics, in the 12 months ending June 2010, the unemployment has varied bet ween 2.9% and 14.1%. The people over 60 are most likely to be unemployed in UK since the employers believe that employees of this group cannot adequately contribute to the sustainability of their firms. The termination of experienced and skilled employees on the ground of age limit intensifies unemployment rate in UK. The higher unemployment rate causes far reaching consequences in a country. When a country possesses large number of unemployed citizens, it adversely affects the nation’s stature in the global market; and thereby foreign investors hesitate to invest with the nation. Similarly, if the nation is unable to produce adequate employment opportunities, people tend to look for jobs abroad; this condition will seriously impinge on the increased need of human resources that would arise