What is labour market flexibility
labour market flexibility is the speed with which labour markets adapt to fluctuations and changes in society, the economy or production.
The most common definition of labour market flexibility has been the neo-liberal definition. This entailed the ease of labour market institutions in enabling labour markets to reach a continuous equilibrium determined by the intersection of the demand and supply curve. In the words of Siebert, labour market institutions were seen to inhibit “the clearing functions of the market by weakening the demand for labor, making it less attractive to hire a worker by explicitly pushing up the wage costs or by introducing a negative shadow price for labor; by distorting the labor supply; and by impairing the equilibrating function of the market mechanism.
However, labour market flexibility refers to more than the strategies used by employers to adapt to their production or business cycles as it is in the definitions above. Increasingly, the common view is that labour market flexibility can potentially be used for both workers and companies, or employees and employers. It can also be used as a method to enable workers to “adjust working life and working hours to their own preferences and to other activities”.As companies adapt to business cycles and facilitate their needs through the use of labour market flexibility strategies, workers adapt their life cycles and their needs through it.
Does your business have labour flexibility?
In todays economy many businesses are as streamlined as possible. This is great for efficiency and clarity of business goals unfortunately it also comes with a few draw backs. When a person in a small or extremely streamlined business has to leave, whether from sickness, unforeseen circumstances or even simply a vacation everyone else has to pick up the slack. In a small business this may not be feasible. For many businesses temporary labour is the missing link to streamlining production. Whether it’s and extra man for a cleanup crew to meet a deadline, or an additional package handler in a ware house during the holidays. Temp Laborers can ensure your business goals are met on time without a hitch.
Get the worker flexibility you need
Labor Works seeks to fill the gap between employer and employee, so that you don’t have to worry about how your production can handle new orders, or what you are going to do if a worker gets sick. Let Labor Works work for you. Call one of our many locations and our representatives will work with you to ensure a seamless fulfillment of your temporary worker needs. Find out the Labor Works difference today!