External Labour Market Assignment

External Market Employees

INTRODUCTION
External labour market plays an effective role for the growth of the economy of a
country. It is a system by which the company also look outside from their organization and then
find a suitable person for the vacant seat instead of giving a job to that person who is already
doing job in the workplace at lower level. The report main aim is to provide the deep knowledge
related to recruitment process for new employees. Report describe critically assess how
information technology and Internet provide various types of methods in order to recruit new
employees for the vacant seat of an organization from the external market. Further it present the
effectiveness of internet recruiting the target the labour market in accurate way.
MAIN BODY
Presenting the external labour market
External labour market is that system of an organization through which the company
looks outside from their own organization in order to find out the best and suitable candidate for
a senior job. They are HR, who choose suitable candidate instead of giving a job to someone
who is already work in a company at lower level.
Human Resource Management theory
HRM theories mainly focus on the methods of recruitment as well as selection and then
highlights the advantages of interview as well as general assessment regarding the selection
process (Campos, Arrazola and de Hevia, 2018). The recruitment process can be external as well
as internal and could be online procedure and then involves the stages of recruitment policies,
advertising, job description, interview and assessment. In UK, small and medium size enterprises
also focus on interviews as well as psychometric test in order to determine the potential of an
applicants. Other technique of selection and recruitment process are including various types of
interviews, in tray exercise, role play, group discussion and through online test. Among all,
recruitment process internet has their own importance to select the best candidate for their vacant
seats.
Recruitment is almost central of all the management process and failure regarding the
recruitment, it also creates many difficulties which also include adverse effect on its profitability
as well as inappropriate levels of staffing as well as skills. If the recruitment process is not done
up to the mark then it will lead to labour shortage and creates problems in management theories.
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Thus, it has been analysed that recruitment process should affect directly the external labour
market such that If the management have suitable candidate then it will help them to innovate
new products in order to maximizes the profit as well as helpful to enhances the sales (Liu and
Cai, 2018). In addition to this, theories of HRM also provide insight the best approaches to
recruitment and the company will also use that in their management skills in order to apply
generic theories in every organization.
Presenting the key Issues and extensive use of HRM theory
The external labour market of the company in UK faces so many problems and at that
time they use different approaches in order to manage the entire work. Some of the key issues are
as follows:
 The major problem faced by the company HR professionals is to retain the talented and
well- performing candidate. Because in this competitive market it is quite not possible to
retain the best candidate for life long and as a result, many of the employees will left the
job in order to grab new opportunity for their future development (Alarcon and et.al.,
2018).
 Corporate culture has also considered another culture issue which HR professionals may
faces. The market demands are continuously decline and to expand and sustain in this
volatile market organizational culture is directly or indirectly affected. Therefore, to
recruit best candidate for the company, it is quite necessary for them to develop new and
healthy work culture.
 At the time of job interview, it is more difficult for the professionals to recruit best
candidate who possess the talent and become more preferred choice among available
options (Issues which HR faces, 2018). Therefore, more than 30 percent recruiters feel
that there is a need to establish the corporate culture that will help to attract best
candidate for the organization.
 There are no flexible work arrangements for the company and therefore, to exhibit the
better productivity, there should be proper decorum or discipline which help to attract
wide range of individual and It must be kept on giving the best result and therefore, it
creates some issues which act as a winning factor (Swayze, Gronow and Sweet, 2018).
 Providing better compensation is another factor that affect many employees of the
company. Now a days, many employees are largely playing in this factor and if the
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employees perform a good in the workplace then it is the duty of their HR to provide
compensation for their better performance. Thus, recruiters also need to fold up their
sleeves in order to attract the real talent to stay ahead in this competitive world.
 Even management are also abiding with different rules as well as regulation. Therefore, it
is quite necessary for the management while taking interviews and recruit best candidate
for the company will be helpful for them to enhances their production level. As business
grows and its strategies structure as well as internal process grow with it (Melanthiou,
Pavlou and Constantinou, 2015). At that time some employees face hard time in order to
cope up with this change and as a result, a lot of companies decreases the productivity
and morale at the time of changing the period.
As these issues are directly linked with the HRM theory is such a way that if the
production level of the company decreases and as a result comes that the profit of the company
decreases. Therefore, it shows that the issues are directly interrelated with it and the best solution
of this all problem is to focus on the communication. The benefit of having a proper
communication is such that it helps to deliver the best result by having a proper communication
that will be helpful for them in order to enhances the production level of the company.
Critically assessing how information technology and internet helpful to recruiting best
employees
Internet as well as information technology is one of the best and advance technique which
is used in every sector. Even in big firms such as TESCO, Marks and Spencer HR use
technology as well as Internet in order to recruit best candidate for their vacant seats. In addition
to this, this information technology as well as internet also impacting how the employers recruit
best candidate and they also find great talent in righter employers. Therefore, it has been proved
that in UK, this current and advance technology creates positive impact upon the recruitment
procedure and the current technology will recruit those employees which are going to remain in a
big deal for the coming years (Impact of technology into recruitment process, 2018). Through
this information and advance technology, the there are four biggest ways of technology which
creates impact upon recruitment process upon external labour market. The biggest advantage of
using this technology is that all work together in order to improve the production level of the
company.
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