Introduction to Labour Market Trends and Major Contemporary Developments
7CO01 – Work and working lives in a changing business environment
This CIPD Level 7 video for unit 7CO01 introduces labour market trends and major contemporary developments affecting work and working lives in organisations. The content addresses assessment criteria AC 2.4, exploring critical discussion of current labour market trends in the supply of and demand for skills, including upskilling, down-skilling, and skills undersupply and oversupply. It examines the pivotal role employers play in facilitating knowledge, skills, and industrial experience development within their workforce. By watching, you'll gain essential insights into contemporary labour market dynamics and understand how these trends shape HR strategy and organisational capability.
Assessment Criteria 2.4
Critically discuss current labour market trends in the supply of and demand for skills.
Indicative Content
Major contemporary labour market developments and their impact on HR work in organisations. Upskilling and down-skilling; undersupply and oversupply of skills; the role of employers in facilitating the development of knowledge, skills and industrial experience.
What You'll Learn
Video covering: Introduction to Labour Market Trends and Major Contemporary Developments
About 7CO01 – Work and working lives in a changing business environment
This unit extends understanding of the interaction between the commercial business environment and likely future developments in the world of work, employment and the management of people. It discusses the range of people practices that are growing in importance, including those relating to ethics and sustainability, technology, employee wellbeing, equality, diversity and inclusion.
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