Bus 203 group 4- unemployment and its consequences
1.
2. Political unrest
Massive numbers of unemployment
Increasing disparity between people
Long-term changes in the world economy due to
Globalization and technological innovations
Rapid shifts in Global Markets
Structural Reforms required
Implications of mass migration make it improbable
that governments, especially in rich countries, would
unconditionally open their doors.
3. High unemployment especially in the young people
Long term unemployment and joblessness has
increased
Flexible contracts making it easier to fire entrants
No. of people not in employment, education or
training has increased
Older people are less inclined to retire
People are less inclined to move home to find work
Firms are relying more on part-time, contract and
temporary workers who are inherently more flexible
4. CSR : Zappo is trying to improve downtowns of Vegas to
attract people
Competition Policy and Business: companies like
Google is offering high incentives to compete with
companies like Facebook
Culture: Zappo is trying to establish a new workplace
culture by encouraging workplace dating
Globalization: it is creating across the board
shortage of people with skills.
Outsourcing : emergence of outsourcing firms
like Infosys and Wipro in countries like India
5. Reducing working hour rather than firing
Conservative Liberal Democrat-tough love
Restart the closed infrastructures despite thinking
of the cost
Increase FDIs so corporate tax will be gained
New education system and training is advised.
Promote and invest in entrepreneurship
Without engaging government in
entrepreneurship reducing unemployment is not
possible.
6. People want jobs worth doing.
Mismatch between skills available and skills
demanded in the market .
Misguided educational choices
7. Government can:
› Change useless graduates into useful ones
› Create the right environment to promote
businesses to invest
› Sensible regulation of competitive or marginal
tax rates
› Creating flexible labour markets
› Provide benefits and try to keep people working
People should brush up their skills to ensure
future employment.
8. Need for the latest techniques
Better marketing & broader ranges of jobs have to be
aimed
Use social media tools to find job opportunities
Linda Gratton “serial mastery” system is required:
› Build a posse- as future successful worker will live in clusters
of talented, open-minded people
› Create big ideas crowd- to create thought-provoking
conferences
› Create regenerative community to maintain emotional capital
Acquiring new expertise every few years if they want to
be part of the lucrative market for scarce talent
9. Company’s desire- maximum productivity
Globalization & technology increases productivity
Reduce costs & increase profits= higher
unemployment
High supply of labour, low demand- thus lower wages
MNCs acquire cheap resources, earning them huge
profits
Disparity between rich and poor increases
MNCs pay taxes so the economy of countries with
MNCs improves.
Increase in household incomes resulting in increase of
consumer goods
10. Change ineffective graduates into valuable ones
Governmental embargo on outsourcing
Mandatory percentage of people in factories
Age limit for workers with promised benefits
Screen out information online
People have to constantly improve skills, use
latest technology
Provide enough freedom to employees
Provide a balance between family and work life
through flex timings
Incentives recognizing contribution is important
11. “Each of us must work for his own improvement, and at
the same time share a general responsibility for all
humanity.”
– Marie Curie