ELECTRONIC JOB MARKET AND PLACEMENT
The job market is one of the largest markets in the world where employers are looking for employees with specific skills and individuals are looking for a job. It is a very volatile market where the supply and demand are frequently unbalanced. Since the inception of the Internet, the job market has been moved to the internet where thousands of employment agencies operate, hundreds of thousands of employers advertise on their home pages.
NEED FOR ELECTRONIC JOB MARKET
The following are some of the deficiencies of the traditional job market
Cost: Classified ads are expensive.
Life cycle: The life of the ads is only days or weeks unless renewed at an additional cost.
Place: Most ads are local. Nationwide ads are very expensive. International ads are even more expensive.
Information: The information provided is minimal because of high cost.
Search: It is a time consuming process to find all relevant newspapers. A trip to a library results in finding only major out of town newspapers.
Finding applicants: Most job seekers did not place ads about their availability. This situation made it difficult for companies to find employees with special skills. They had to use employment agencies.
Matching: It was difficult to match candidates to open jobs as well as to match supply and demand.
Material: Some applications or letters of response tended to get lost, or arrive late. A letter in a big city may travel two weeks to arrive at a distance of a few blocks.
Speed: Communication by mail is slow as well as the processing of a large number of applications. Employers loose good employees, since by the time the application is processed, the applicant had taken another job. Applicants accept less desirable jobs because they are afraid to wait too long.
ROLE OF INTERNET
The Internet offers a perfect environment for job seekers and the companies searching for hard to find employees. The job market is especially effective for technology-oriented jobs. However, there are thousands of other companies that advertise available positions, accept resumes and take applications over the Internet. The job market is used by the following:
· Job seekers
· Job offers
· Recruiting firms
· Government agencies and institutions
USES OF THE ELECTRONIC JOB MARKET
To the job seekers:
- to find timely information
- to communicate with potential employers
- to post resumes for large-volume distribution
- to search for jobs from any place at any time
- to obtain several support services at no cost
- to learn how to use your voice in an interview
To the employers:
- to advertise to a large number of job seekers
- to save on advertisement costs
- to provide equal opportunity for job seekers
- to find highly skilled employees
- to conduct tests online
- to change and update ads quickly
- to fill up positions rapidly.
HANDICAPS OF THE ELECTRONIC JOB MARKETS
- Many people do not use the Internet
- Companies may use both traditional advertising and the Internet.
- Security and Privacy
- Online communications are usually not encrypted.
- High turnover costs for employers
- Finding candidates online is more complicated.