Recruiting and Labor Markets
Recruitment is any practice or activity carried out by the organization with the primary purpose of identifying and attracting potential employees. Recruitment strategies or human resource policies are decisions that affect the practices and systems that influence employees' behavior,attitudes, and performance which affect the nature of the vacancies for which people are recruited. This is based on quantity, quality, and effectiveness. Quantity is represented by the number of applicants. Quality is represented by types of applicants or what they have to offer. Finally, effectiveness is represented by the likelihood of accepting offers or who they are going to hire. Recruitment strategies include lead-the-market pay strategies, image advertising, and emerging recruitment strategies. Recruiting is not always necessary. It is not necessary when the number of available candidates is the same as the number of people needed to be hired.
Labor markets refers to the supply and demand for labor in which employees provide the supply and employers the demand. It is a major component of any economy or in this case company. Labor markets are very important in recruiting. Trying to recruit with a tight labor market is extremely difficult, but not impossible. To do this, make sure to be ready to react when you get a “yes” to be able to move the finalized candidate quickly to a new hire. You also should communicate really well with your bosses and the potential candidates. Labor markets and recruiting affects who you have as your company's employees.