MN 301 – Human Resource ManagementMN 301 – Human Resource Management

Labor Market Components: Key TermsLabor Market Components: Key TermsLabor Market Components: Key TermsLabor Market Components: Key Terms

Labor Markets– The external supply pool from which

organizations attract their employees Labor Force Population

– All individuals who are available for selection if all possible recruitment strategies are used.

Applicant Population– A subset of the labor force that is available for

selection using a particular recruiting approach. Applicant Pool

– All persons who are actually evaluated for selection

Labor Market ComponentsLabor Market ComponentsLabor Market ComponentsLabor Market Components

Labor Markets and Recruiting IssuesLabor Markets and Recruiting IssuesLabor Markets and Recruiting IssuesLabor Markets and Recruiting Issues

Labor MarketsLabor MarketsLabor MarketsLabor Markets

IndustryIndustryandand

OccupationalOccupational

KSAsKSAs

IndustryIndustryandand

OccupationalOccupational

KSAsKSAs

GeographicGeographic

LocalLocalRegionalRegionalNationalNational

InternationalInternational

GeographicGeographic

LocalLocalRegionalRegionalNationalNational

InternationalInternational

Educational Educational andand

Technical Technical QualificationsQualifications

Educational Educational andand

Technical Technical QualificationsQualifications

Strategic Strategic Recruiting Recruiting

StagesStages

Strategic Strategic Recruiting Recruiting

StagesStages

Strategic Recruiting DecisionsStrategic Recruiting DecisionsStrategic Recruiting DecisionsStrategic Recruiting Decisions

RecruitingRecruitingSource Choices:Source Choices:

Internal vs. Internal vs. ExternalExternal

RecruitingRecruitingSource Choices:Source Choices:

Internal vs. Internal vs. ExternalExternal

Organizational-Organizational-Based vs. Based vs.

OutsourcingOutsourcing

Organizational-Organizational-Based vs. Based vs.

OutsourcingOutsourcing

Regular vs. Regular vs. Flexible StaffingFlexible Staffing

Regular vs. Regular vs. Flexible StaffingFlexible Staffing

Recruiting and Recruiting and EEO/Diversity EEO/Diversity

ConsiderationsConsiderations

Recruiting and Recruiting and EEO/Diversity EEO/Diversity

ConsiderationsConsiderations

StrategicStrategicRecruitingRecruiting

StrategicStrategicRecruitingRecruiting

EEO and Diversity ConsiderationsEEO and Diversity ConsiderationsEEO and Diversity ConsiderationsEEO and Diversity Considerations

Advantages and Disadvantages of Advantages and Disadvantages of Internal and External Recruiting SourcesInternal and External Recruiting Sources

Advantages and Disadvantages of Advantages and Disadvantages of Internal and External Recruiting SourcesInternal and External Recruiting Sources

Internet Recruiting MethodsInternet Recruiting MethodsInternet Recruiting MethodsInternet Recruiting Methods

Job BoardsJob BoardsJob BoardsJob Boards

Professional/Professional/Career Web SitesCareer Web Sites

Professional/Professional/Career Web SitesCareer Web Sites

Employer Web SitesEmployer Web SitesEmployer Web SitesEmployer Web Sites

Internet RecruitingInternet RecruitingInternet RecruitingInternet Recruiting

Advantages– Recruiting cost savings– Recruiting time savings– Expanded pool of

applicants– Morale building for

current employees

Disadvantages– More unqualified

applicants– Additional work for HR

staff members– Many applicants are

not seriously seeking employment

– Access limited or unavailable to some applicants

External RecruitingExternal RecruitingExternal RecruitingExternal Recruiting

Employment AgenciesEmployment Agenciesand Search Firmsand Search Firms

College and College and University University RecruitingRecruiting

High Schools and High Schools and Technical SchoolsTechnical Schools

LaborLaborUnionsUnions

External External Recruiting Recruiting SourcesSources

Job FairsJob Fairs

Recruiting EvaluationRecruiting EvaluationRecruiting EvaluationRecruiting Evaluation

General Areas for Evaluating Recruiting– Quantity of applicants– EEO goals met– Quality of applicants

Yield ratios– A comparison of the number of applicants at

one stage of the recruiting process to the number at the next stage.

Selection rate– The percentage hired from a given group of

candidates

Recruiting Evaluation PyramidRecruiting Evaluation PyramidRecruiting Evaluation PyramidRecruiting Evaluation Pyramid

Selection MethodsSelection MethodsSelection MethodsSelection Methods

Yield ratios– A comparison of the number of applicants at one

stage of the recruiting process to the number at the next stage

Selection rate– Percentage hired from a given group of candidates

Acceptance Rate– Percentage of rejected job offers

Success Base Rate– Comparing percentage rate of past applicants who

were good employees to that of current employees.