Job market is a market where employees and employers meet and interact searching for jobs and for employees respectively. Inasmuch as job market demonstrates the competition concept and interplay between labour forces; it is not a physical place though. Changes in the job market are influenced by demand and supply of labour in the overall economy and other sectors like specific industries or specific education levels needed for a job. The economy’s unemployment level dictates the labour demand and supply of a country. Salaries and wages are affected directly by the demand and supply of employment opportunities.
There is the hidden job market where people seeking jobs tap them from networking connections since jobs in this market are not advertised or posted online. Some employers create a professional network to avoid the lengthy processes involved in advertised jobs or choose to hire employees internally. As another way of avoiding the lengthy processes, employers seek referrals from their employees or get employees from recruiting firms.
Requirements in the job market
There are things that an ideal job seeker should be equipped with when looking for any job which are used as a measure of their qualification for the job. Those seeking jobs present the requirements through application letters. There are specific skills required for certain jobs and the job seeker is required to match their skills with the requirements in order to qualify for the job.
Types and amounts of work experience relevant to the jobs being sought are a vital part of job requirements and enhance the chances of qualification for a job. Educational credentials and professional certifications count when an ideal candidate applies for a job.
Job analysis and its relevance in the job market
The potential employer and the human resource manager in this case will carry out a job analysis which is a tool of collecting job-related data. Analysis of the data comes up with the job description and job specification.
Job description is information like the job title and its location, tasks and responsibilities and environmental factors of the potential worker is likely to face. It points out what is expected out of an employer and is used in marketing the job.
Job specification is the detailed information about the job tasks. It is the most selective and determines the most appropriate candidate for the job. It’s also useful to an organization’s recruiting team as it guides them on the desired set of characteristics.
SURVIVING IN TODAY’S JOB MARKET Essay
1340 Words6 Pages
The job market today is difficult for both employees and employers. It hurts emotionally and financially to lose a job, and it is equally painful to have to terminate someone. Both sides struggle. If you work for an organization that may be facing layoffs, being prepared helps. Below are some tips Begin by praying -- and often. Ask God to help you maintain a positive attitude and to keep your mind from flooding with negative, fearful possibilities. Do not allow your mind to play the theme of my family will go hungry. My spouse and kids will leave me. I will never find another job that I like. I will end up homeless, alone, and living on the streets. Such thinking reflects a failing of relying on the Lord. Jesus reminds…show more content…
People who were hired by a referral were twice as likely to be hired as compared to people responding to newspaper ads and more than five times as likely to be hired as those walking into a business and asking for a job. Increasing your contacts is essential. The best job finding technique is still personal connections. That is, unless you are hoping to spotted by a recruiter. Business Week reports that 87% of recruiters use the on-line social networks for spotting candidates for jobs they represent.
Pursuing jobs that match the skills you enjoy using will more ensure you like your new position. Most skills can be applied in multiple tasks. For example, I taught school, did management training for a corporation, consulted with a retail chain designing a Human Resource Department, and provided seminars for the public. Basically, all required very similar skills. One of my students used the same skills working as a dental assistant as she did selling jewelry. She was able to show a potential employer how her persuasion of others was a required strength in both prior jobs and how his opening would let her to do what she enjoyed most.
Ask someone to read each of your resumes. Do not depend on spell check for finding errors. Read them aloud. Don’t let your resume be trashed for poor spelling or formatting that is difficult to read. Remember that using bullets creates an easier