Bank management report Essay Example | Topics and Well Written Essays - 2500 words

Bank management report - Essay Example This requires a combined effort on the part of the organization as well as the individual employee to ensure a fit with the job responsibilities and work profile with the career goals of an individual. The present study would highlight the aspect of occupational analysis to ensure job fit and organizational excellence. Analysis of Occupation Business organizations need to include aspects of labour demand and supply in addition to determining price and output if they want to maintain sustainability of their businesses in the prevailing competitive business environment. The labour demand curve which highlights the marginal productivity of labour as a constant function of the labour quantity is largely determined by the price of output and changes in technology. The supply of labour is largely based on the premise that humans largely tend to make a trade off between leisure and work. They largely assume that work is not enjoyable and work is not enjoyable. However they also realise that leisure normally requires a cost for the individuals. It is widely assumed that an hour of leisure requires a person to sacrifice an hour of wage (University at Albany, 2008, p.1). Figure 1: Labour Demand and Supply Curve (Source: Cuthbertson & Gripaio, 1993, p.7) The figure above shows a typical labour demand and supply curve in a perfect economic scenario. However the equilibrium between demand and supply can be shifted due to change in the individual’s perception towards work. For example previously women were largely discouraged from working which reduced the total supply of labour however with changing times women have become an integral part of the labour force causing the number of workers to increase thereby causing a shift in the supply curve. Alternative work opportunity including immigration also play a role in the shifting of the equilibrium between labour demand and supply as attractive markets outside home would cause a shift in the supply curve to the left (Un iversity at Albany, 2008, p.1-2). Human Capital Human capital or the labour force is largely affected by the aspect of wages. The marginal theory of productivity states that under purely competitive market conditions the wage rate is largely constant and hence a firm has the opportunity to decide on the total number of workers to be hired thus determining the market demand for labour on their own. The element of additional or marginal worker largely helps in determining marginal productivity (Chakravarty, 2009, p.600). Employees also have a propensity to go in for higher studies or look for alternative work options. In both these cases the labour supply reduces and the equilibrium wage price gets increased owning to greater propensity and increased marginal wages of the employees in lieu of their higher education or attractive wages in other organizations. Higher education options among the workers would largely tend to shift the labour demand curve to the rightward direction ensuri ng a shift in the equilibrium point between labour demand and supply (Hubbard & O’Brien, 2008, p.504). Labour Migration In a market characterised by elements of perfect market competition labour