Labor Market Research Paper Example | Topics and Well Written Essays - 1000 words

Labor Market - Research Paper Example This entry by Wal-Mart also causes a drop in retail income in the areas of operation (Weinswig & Tang, 2010). The entry of Wal-Mart into these new areas also means a drop in prices; hence, increasing the purchasing power of the customer because prices are reduced not only at Wal-Mart, but also in other stores. Therefore, the customer benefits the most. Low income families tend to benefit the most despite the fact that labor market cost may be also unfavorable. This paper will discuss the labor market from which Wal-Mart Stores obtain candidates for vacant positions in the company. It will also examine the levels of education required to prepare new workers obtained from this pool of positions in the company. The training needed for these new workers will also be looked at. When Wal-Mart opens any new store, it employs hundreds of workers. More frequently than not, the amount of people applying for jobs is usually over 20 times higher than the number of positions to be filled. I reali zed that the entry of Wal-Mart in most of these areas is not well received by the local people. Many have attempted to block Wal-Mart’s entry into their communities with a multitude of excuses. The main reason is that they cause low wages in the retail market something the management has refuted (Dreher & Dougherty, 2001). They contend that, in most of the areas where Wal-Mart operates, they have created several job opportunities for other business apart from their own. What these people forget is that if one is considering the retail section of each region, employees cannot move from one region to another and customers can only shop in their own region. This is enough justification for the entry of Wal-Mart into the local market in the retail division (Neumark, Zhang & Ciccarella, 2005). The labor demand in a certain retail sector is a derived demand, and; therefore, affected by a variety of factors in the market for retail services. With this in mind, Wal-Mart affects labor demand in the retail sector by sufficiently supplying retail services and adopting technology, which will change labor intensity in the retail sector. Training at Wal-Mart is an ongoing thing and it is an essential part of the company. Each employee starts with an in-depth personal orientation (Weinswig & Tang, 2010). They are initiated to the history and traditions of the company while highlighting the roles and responsibilities the employee will be taking on upon joining the company. After orientation is over, each department has its own specific and detailed training and development program that gives to the employee the knowledge skills and tools needed to succeed in the company. Each employee has to chart out their own career path and endeavor to accomplish their most ambitious goals. Wal-Mart also offers several training prospects to assist managers develop their leadership skills and progress through the company to ensure their teams are motivated and passionate in fulfillin g the company’s mission running. They offer a management training program referred to as Assistant Management Training (AMT), which is open to all employees of the firm based in the United States. A person needs to apply in order to be chosen so as to benefit from this course. Also, there is the Walton Institute, which provides an educational environment for Wal-Mart leaders from all over the world to stretch themselves and explore the