Class notes
Human Resources Management IIA Chpt.5 - The Employment Market
- Institution
- University Of The Witwatersrand (wits)
Why people work, and influences on job creation.
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
Seller
Follow
Content preview
Human Resources Management IIA by ProfessorBurgerQueenThe Employment Market
- The employment market comprises all those people who are available for work.
- Neo-classical economies view this potential workforce as forming a labour market
- The market is affected by national or regional supply, and demand for
appropriately skilled workers
- Demographic factors and cultural norms also impact the employment market
Why People Work
Competitive Market Theories
- Neo-classical economic influence
- Employees choose jobs that maximise utility
- Employers try to get the most out of employees for as little
- Balance supply and demand of human resources
- Pay and conditions for employees are determined by relative scarcity and abundance
of their skills and abilities in the market
- Employees are object to be traded
Institutional Theories
- Main focus is within the firm
- Individuals and organisations cooperate
- Individual employees are more concerned with achieving a fair rate in comparison
with peers
- Wages set for variety of reasons from profitability to tradition; competing with other
firms is minor
- Remuneration within firms is relatively rigid
- Tech leads to fewer more skilled workers
Influences on Job Creation
- Financial legislation
- Shareholders
- Competitors
- Board, Exec directors, senior managers, middle management, other employees
- Employment market
- Trade unions
- Employment legislation
- There is rarely a free flow of workers in and out of a business
- The disconnection is reflected in the pay and conditions of established employees,
which may deviate considerably from the market rate
- Insiders will tend to push for a premium rate of pay, regardless of more competitive
rates acceptable to outsiders, because of their perceived power to retain their jobs
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ProfBurgerQueen. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R60,00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
60281 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now