Your Organisation Is Based In Two Different Countries The Uk And Ksa

The Role of Human Resources Name Course Date Instructor UK vs. Saudi Arabia’s Labor MarketsWhen an economy near full employment, intense pressure is put on wages since recruitment becomes difficult. Nearing full employment demands more output needs to meet increasing consumer’s demand for products. At this point, companies cannot hire extra labor since the current pool of available employees is small, which means companies would like to hire more workers but low supply ensures their unavailability. Excess demand for workers in such firms grants the power to the existing employees, a position that comes with positives such as steadily increasing wages since they hold higher bargaining power. Such is the current state of UK’s labor market and is characterized by slow economic growth rate because UK firms experience elevated recruitment difficulties.The UK economy has a low unemployment rate (4.3% or 1.3 million unemployed people) with employment rates showing a record 75.3% (meager, 2018). UK’s workforce has 32.39 million people, which was a 313,000 increment from the previous year. Skill shortages in UK economy include agriculture and food, engineering, software development,