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Essay / Research Paper Abstract
This 5 page paper considers whether or not it is more cost effective to undertake internal recruitment rather than look outside of the company. The paper looks at the concept of the internal labor market and considers the advantages and the disadvantages of the practice. The bibliography cites 6 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEinterlrec.rtf
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Unformatted sample text from the term paper:
for many companies. There have been multiple company failures and bankruptcies, many of the companies that have remained have faced the need to cut costs and improve efficiency in order
to remain profitable and viable. A key element during any recession is the human capital of an organization, with companies needing to gain the most from their employees in terms
of commitment and productivity, in order to create efficiency. It may be argued that one significant approach an employer can take, which will create efficiency as well as save costs,
is to undertake a strategy of internal recruitment. Internal recruitment looks at recruiting employees propositions from inside the organization, rather than looking to external sources, which can create a pattern
of promotion and career development within the organization. There are a number of benefits to the strategy, but it may also be argued there are some disadvantages which need to
be considered along with the quantities in order to determine whether or not it truly is a cost-effective recruitment strategy. If we look at internal recruitment we need to look
at how the internal about market operates within a firm. The internal labor market is defined as a market where "the pricing and allocation of labor is governed by a
set of administrative rules and procedures" (Doeringer and Piore, 1971: 1).The internal market is a different structure of labor, but does have do some similarities, however it appears to depart
from the central market in behavior characteristics for example, supply and demand in terms of the labor supply and wages is less emphasized. The key characteristics are the limited access
of the external market to the market where labor is being traded; this usually reduces the access to that market to external actors (Fevre, 1992). The use of internal staff
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