Labor markets: preventing rivalry and myopia through HRM

Abstract

The authors introduced a new concept/term to frame the effect on organizations when supply chain planning and HR strategy do not take labor into consideration. This was accomplished by first narrowing the concept of marketing myopia to factor market myopia, and in this conceptual paper, it was subsequently narrowed to introduce the term labor market myopia.

Sensemaking and Resilience for Human Resources in Crises: Lessons From Crisis-Purposed Organizations

“…It compares crisis-focused organizations to lean organizations in routine operation by using publicly available sources to explain the differences in HRM tactics. This paper also extends the reach and definition of Labor Market Myopia (LMM) (Opengart, Ralston, & LeMay, 2018) as a factor in the failure of some organizations to become resilient or agile. LMM disrupts sensemaking as both an organizational process and as a perspective on organizational functions.…”

“…Labor Market Rivalry and Labor Market Myopia are both subsets of Factor Market Rivalry and Factor Market Myopia (Opengart et al, 2018). Labor Market Rivalry focuses on the competition that organizations face involving human resources.…”

“…Yet, despite such challenging circumstances, some organizations are surviving-and even thriving. Opengart et al (2018) suggested ways to address these issues in labor factor markets before COVID-19. Specifically, Opengart et al (2018) suggested organizations can 1) increase workforce productivity by leveraging technology and culture; 2) expand the workforce by recruiting nontraditional workers; and 3) develop effective economic remedies by revamping traditional performance evaluations and compensation practices.…”

Quality Output, Workplace Environment, and Employee Retention: The Positive Influence of Emotionally Intelligent Supply Chain Managers

“…These circumstances highlight the necessity of hiring and retaining the very best employees because of the critical nature of employees within SC operations. One area which can help manage human resources and secure this vital factor of production is effective supervision (Opengart et al 2018).…”

“…While human resources are a requisite for business success, maintaining needed employment levels at L&SCM firms is becoming a challenge (Opengart, Ralston, and LeMay 2018). Causes such as employee mobility; employees who are attractive to multiple industries; mismatches between employee knowledge, skills, and abilities and job requirements; and firms focusing on meeting customer needs and cost containment, while not protecting their own human resources (Gardner 2005; Stank, Dittmann, and Autry 2011; Sweeney 2013), are impacting a firm’s ability to meet its human resource needs.…”