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Commerce 2BC3 Chapter 5 Recruiting in Labour Markets Recruiting process of generating a pool of qualified applicants for organizational jobsFinding qualified applicantsAcquiring the human capital necessary to replace normal attrition and provide for growth probably will require an employer toKnow the business and industry to successfully recruit qualified employeesIdentify keys to success in the labour marketCultivate networks and relationships with sources of prospective employeesPromote the company brand so that the organization becomes known as a good place to work Create recruiting metrics in order to measure the effectiveness of recruiting effortsStrategic Approach to RecruitingBecomes more important as labour markets shift and become more competitivewith organizational goals and plansStrategy is a general framework the provides guidance for actionsCan be expensive Cost of the unfilled jobsManagement needs to match recruiting activity with organizational and HR plansUnderstanding labour market adjustments are keyLabour MarketsExternal supply pool form which organizations extract employees Important for recruiting efforts to address a number of specific issues that affect employers in todays labour markets Labour Market ComponentsThe broadest component and measureLabour force population All individuals who are available for selection if all possible recruitment strategies are used Each recruiting method will reach different segments of the labour force population Applicant population A subset of the labour force population that is available for selection using a particular recruiting approach4 recruiting decisions affect reaching the applicant populationRecruiting method Advertising medium chosen including use of employment agencies Recruiting message What is said about eh job and how it is said Applicant qualifications required Education level and amount of experience neededAdministrative procedures When recruiting is done applicant follow up and use of previous applicant filesApplicant pool All persons who are actually evaluated for selection Many factors can affect the size of the applicant pool including the reputation of the organization the job specifications and the information availableLabour Markets and RecruitingThe supply of workers in various labour markets substantially affects staffing Geographic Labour Markets Based on geographic locationLocal regional nation and internationalLocal vary in workforce availability and qualityAttempting to recruit locally or in a limited geographic area for a job market that is really national will likely result in disappointing applicant rates Global Labour MarketsCan be advantageous Recruiting employees for global assignments requires approaches and understanding different from those used for typical recruiting efforts in the home countryMust consider differences in culture laws and languageCan present challengesInternet has made it more accessible
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