Planning for People Walmart

Question: Describe about the structure of labour market as seen in Walmart? Answer: Introduction The assignment shows the structure of labour market as seen in Walmart. It displays the difference between the external and internal market arrangements (Abha., Vijai. Prakash., 2010). The internal market is characterized by a firm or a part of the firm. Entry into this part of the market is restricted to particular occupation or profession. The value of labor and its allocation is from entry prospect is governed by some laws which distinguishes the internal labour market from the external ('Human Resource Management', 2014). Having given the basic distinction, the internal labor market focuses on the white-collar jobs and the external labor market focuses on the blue collar jobs. The following diagram shows the four-quadrant model: Diagram 1 Elaboration of Four-quadrant Model The four quadrant model focuses on four aspects of the labor market (Lazear Oyer, 2003). Taking Walmart as an example the following can be well put in the four quadrants: Quadrant 1: The first quadrant shows the primary work force of the organization. This consists of the President, Vice-President, and CEO of the Walmart. These are the people who are the most important in the organization. They are the decision-makers of the company having high responsibility. Quadrant 2: This quadrant shows the primary external people who are important to the company, like, stakeholders such as customers, government, creditors, employees who has interest towards Walmart. Quadrant 3: This quadrant shows those sector of people who are not directly linked with the company unlike quadrant 1. These are the ones who has very low span of responsibility such as vendors. They do not have firm specific skills but they have the skill to work any lower level job. Quadrant 4: This quadrant shows the secondary internal people who are adaptable to firm specific skills like store manager, assistant store manager, floor manager, office assistant. They have a little low extent of responsibility but their skills are firm oriented. References Abha., Vijai., Prakash.,. (2010). Manpower planning and development. Jaipur: ABD Publishers. Human Resource Management. (2014). Human Resource Management, 53(6), no-no. doi:10.1002/hrm.21696 Lazear, E., Oyer, P. (2003). Internal and external labor markets. Cambridge, Mass.: National Bureau of Economic Research.