The time lag between unemployment and job in an individual’s career marked by ‘searching for a job’ or transitions phase involved in change of jobs, called as frictional unemployment, is very critical. When a company is searching for the right person to a job,…
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When demand and supply situation in a country is unfavorable to the employers, they would prefer to compromise and give training to the available personnel rather than spend time and resources in search of ‘ideal match’, to avoid production loss. Gronau stated: “Since the length of service is directly related to the level of unemployment, one would expect wage demands (and hence the change in general wage rate) and unemployment to be inversely related” (290). If the pace of economic growth is robust, the increase in demand mitigates the effects of frictional unemployment in general. Development of transferable skills by a person could ensure transfers within the same company to other departments or make change of job easier and counseling facilities need to be strengthened. Uniformity in dissemination of information with regard to the jobs available, the attributes necessary and the experience required in relation to them is very important for proper understanding in identifying the appropriate opportunities without any difficulty. Though the standardization could not be achieved completely in this respect in view of multiplicity of disciplines, grades and specialization, common parameters relating to jobs in a particular category acceptable to most of the employers or industry associations and understandable by majority of the workers would improve the situation considerably. In most of the cases relocation choices are not fully explored both by the employers or employees to the disadvantage of both. Moving cost to the employee and recruitment and training cost to the employer play an important role in making strategic management decisions. If the views of the employer and employee converge in this respect, solution could be reached easily. Diamond stated that “[t]he rate at which workers are offered jobs with different moving costs depends on the decisions of other workers as to which
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(“Course Project Essay Example | Topics and Well Written Essays - 2500 words - 1”, n.d.)
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(Course Project Essay Example | Topics and Well Written Essays - 2500 Words - 1)
“Course Project Essay Example | Topics and Well Written Essays - 2500 Words - 1”, n.d. https://studentshare.org/macro-microeconomics/1617400-course-project.
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