Some of these are given below: a. However, so far as recruitment for executive and professional positions is concerned, conditions of all market are important. So, you must always stay up-to-date with such political factors. For example, the ageing population may imply a smaller and less-willing workforce thus increasing the cost of labour. For example, Government of India has introduced legislation for reservation in employment for scheduled castes, scheduled tribes, physically handicapped etc. These factors can affect how a company operates, its costs, and the demand for its products.
The number of applicants is expectedly very high which makes easier to attract the best qualified applicants. If the demand for a particular skill is high relative to the supply, an extraordinary recruiting effort may be needed. Exchange rates can affect the costs of exporting goods and the supply and price of imported goods in an economy. For instance, we see some reserved seats for a specific gender, age group, location of the people. Specifically, political factors have areas including , , , , , and political stability. One factor that is frequently being referred to as a critical success factor is cross-cultural literacy.
As the number of competitors increases the importance of staffing function and compensation practices also increases. That is why blue chip companies attract large number of applications. Difference: The only difference is that internal factors are under the control of the organization as their scope is within the organization. Leave a Reply Your email address will not be published. . Without adhering to such regulations a company can be fined extensively which if it was bad enough could cause the company to shut down. This was a reaction to the social environment.
The drive to eat healthier, the drive to care for the environment, baby boomers staying in the workforce longer, adults have fewer children later in life. Corruption is a barrier to economic development for many countries. These laws dictate the compensation, working environment, safety and health regulations, etc. Political Factors In case of Bangladesh, political instability like hartal makes difficulties in both domestic and international trade. Along with upgrading the jobs, technology has its impact on human relations also. This restricts management freedom to select those individuals who it believes would be the best performers.
On the other hand, many may argue that, because of the Globalization Phenomena, differences between nations are getting smaller or even disappearing because of the raise of a global culture. Social factors- Relate to pattern of behaviour, tastes, and lifestyles. To face the competition, many a times the organizations have to change their recruitment policies according to the policies being followed by the competitors. Some of these are mentioned here. And the external factors are those factors which cannot be controlled by the organization. Since interaction affects sentiments, technology indirectly determines what individuals in groups will feel and think about one another and about their work situation.
Discuss the impact of market globalization on consumer lifestyles and preferences around the world. The suppliers include the universities, colleges, employment exchanges, training institutes, consultancy firms etc. Let us examine these factor in a bit more detail. The Supreme Court of India has given its verdict in favour of 50 per cent of jobs and seats. Also, trade unions play important role in recruitment. If the company has a demand for more professionals and there is limited supply in the market for the professionals demanded by the company, then the company will have to depend upon internal sources by providing them special training and development programs.
There are obligations which are influencing the industry. Employees State Insurance Act, 1948 vi. Firms must try to react to and predict how Political, Economic, Social and Technological factors, will impact the business, and how strategy can be adapted to meet the changes. External Factors Of particular importance is the supply and demand of specific skills in the labor market. As a result banking transactions are also stuck. Be it internal or external, they possess the energy to divert the process flow and. A few of these problems are as follows: i.
While factors such as federal government mandates or lending standards on small businesses can influence employment rates, there are also other factors that can impact employment. Industrial Employment Standing Orders Act, 1946. Thorpe Park will be encouraged to expand and take more risks with recruitment when interest rates are low and economic conditions are correct. With the introduction of new products, new technologies and services, a certain marketplace can have a tough time adjusting so it's important to assess the technology from all angles. When the company is not creating new jobs, there is often oversupply of qualified labor which in turn leads to unemployment. For example, interest rates affect a firm's and therefore to what extent a business grows and expands.
Human Resource Planning Effective human resource planning helps in determining the gaps present in the existing manpower of the organization. Explain some of the factors which may affect recruitment and training in an international business. Labor-market conditions in a local area are of primary importance in recruiting for most non-managerial, supervisory and middle-management positions. External Factors Affecting Recruitment The external forces are the forces which cannot be controlled by the organization. The majority of Semicontronics customers are international, mid-market manufacturing companies that produce generic electronics such as cell phones, digital media players and game consoles. Demographic Factors: As demographic factors are intimately related to human beings, i.
The scope of external assessment embraces the analysis of opportunities and threats impacting a certain industry or business. Even so, many Americans would not favor a minority candidate over an equally qualified Caucasian. Recruiting Policy: The recruiting policy of the organisation i. You can only follow their trends. The company has to make several allowances to discourage such practices. You should understand that the political factors have the power to change results.