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Short Labor Supply Influences Retail Sector

In: Business and Management

Submitted By KenixGuanLi
Words 1604
Pages 7
Short Labor Supply Influences Retail Sector

This essay identifies and explores the impact of one external factor that has influenced my organization and job within the last twelve month.
The factor I have chosen sits in the task environment is labor supply. Task environment is the external segment comprising the specific external elements that an organization faces (Bartol, Tein, Matthews, Sharma, Scott-Ladd 2011, p. 76). While Bartol et al (2011, p. 77) defines that an organization’s labor supply consists of the people employable by the organization.
I would like to introduce my company and my job responsibility. I work as a sales advisor in X shop. The X department store is a local retail chain store selling apparel, shoes and timepiece products and so on. It has around 20 employees in its sales and service line. My job in the shop is to handle the daily sales work and service customer needs.
The retail sector in Singapore is one of the most important sectors in the economy. Retailing plays a pivotal role in making Singapore a viable place to travel and reside. The retail sector consists of retail outlets, hypermarkets and small specialist stores. The retail sector is a significant contributor to the Singapore’s economy. In 2009, it employed about 102,000 workers. The sector also registered some $26 billion in operating receipts and generated $3.8 billion in value-added (VA). This is equivalent to 1.5 per cent of Singapore’s GDP (SPRING Singapore commits $86mil to retail sector 2011).
Since 2010 when government starts to increase the tax for hiring foreign workers, the burden for companies especially for Small Medium Enterprise (SME) has increased. To hire a Singaporean staff, the monthly expenses is about 2500 Singapore dollars, to hire a foreign workers who is holding a S Pass (SP) or Work Permit Pass (WP), the salary is only about 1800 Singapore dollars…...

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