Total rewards Glossary
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Labour Market

Labour Market

Labour Market

Labour market refers to the supply and demand for labour within an economy, including both workers and employers. It encompasses a variety of factors, such as wages, working conditions, and the overall job market.

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What is the impact of the labour market?

A tight labour market with low unemployment rates means that employers must compete for top talent, and employee recognition programmes can be a valuable tool in attracting and retaining employees.

What are best practises for attracting talent in a tight labour market?

In a tight labour market, companies should focus on creating a strong company culture, prioritising work-life balance, and offering competitive compensation packages. By taking care of employees’ personal and professional needs and wants, organisations can create a work environment where employees want to be.

Best Practices

Best practices

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