There is a value set on skilled workers with education and training. This value will help keep your employees, honest, hard working, and prepared. Labour has to operate efficiently and effectively for all groups no matter what. For example, if the groups are of a different ethnic group, a religious background, or a student for that matter. There also has to be a stable intervention that seeks to increase efficiency and/or increase the equality of the labour market.
A well-prepared and functioning labour market is critical to the general well-being of a country and their economy. A functioning market causes: lower employment rates; higher productivity and growth; equitable distribution of income; and an equitable distribution of opportunities for citizens.
There are two sets of public (government) policies that affect labour markets:.
1) Labour relations systems (rules/laws governing relationships among employers, workers and their representatives, and the relationships that have developed under those rules, such as workers' compensation, minimum standards, labour relations, etc. and:.
2) Labour market adjustment systems (rules/programs that influence labour market behavior of employees and workers, such as unemployment insurance, active measures and social assistance for 'employable').
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Public policy can also be branched out into separate categories and by looking at a specific labour market. In terms of this case, the retail world, the laws incorporating them are different than most jobs. For example, Retail jobs are ones that require an option of a 7- day working week. Almost all retail companies are open 7 days a week except for national holidays where they are forced to be closed. .
To take a closer look at the policy involved in the retail world we can look at the system of laws that are in place which are: retail laws, and business laws. There are also regulatory measures involved in the retail world that the business must look at.