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Skills Shortage and HRM - Essay Example

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Running Head: Skills Shortage and HRM Skills Shortage and HRM Skills Shortage and HRM Introduction One of the biggest problems in every economy is the problem of unemployment and a large number of the workforce remaining redundant or unable to find work…
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Skills Shortage and HRM
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Download file to see previous pages Hence, people are discouraged from education and the economy of that country suffers immensely 9 Beresford, pg 190, 2004). However, a somewhat opposite situation from the one described above, is the situation of plenty of jobs being available and very few workers available with suitable skills and qualifications for the job. In the former scenario described, a number of job-seekers are running after one job, whilst in the latter scenario, many companies are running after one potential employee. This is because the economy holds few skilled workers in the required profession and many companies require those skills, hence, companies are competing to recruit the same employees (Capelli, pg 145, 2005). Issue of Scarcity Such shortages usually occur in highly skilled and technological fields, which are constantly evolving with the rapid change in technology. Employees must be trained regularly to meet the changing technological environment and enhance their expertise. One of the most worrisome situations for companies is the situation of having vacancies in a required field, but experiencing recruitment problems. Many companies rely on these employees for progress and success in their business, yet because of recruitment problems, many resources are diverged from actual operations to employee recruitment. This causes a loss for the company and deepening problems in business operations. Hence, companies must put up an effective fight to win the war for talent (Goss, pg 232, 1994). Recruitment Strategies There are several factors which may motivate employees to work for a certain company and may assist the company in recruiting employees. Such factors include the size and reputation of the company, working conditions, fringe benefits, pay rate, opportunities for promotion, management style, and training opportunities. Employees have differing opinions on their preferences and which factor influences them most when seeking jobs from a company. Pay may be very important for one employee, while the other employee will feel exhilarated by working for a reputable company offering exciting promotional possibilities. Hence, companies may negotiate with various employees in order to enhance their interest in the job and their motivational levels (Capelli, pg 146, 2005). However, some companies may be facing continuous recruitment problems and may be losing out while competing with other firms for talent. These companies probably lack one of the above mentioned factors and are not able to meet the needs of the required employees. Such problems are enhanced because of a lack of skilled labor to fit the job description and the potential employees who do fit the required criteria, may prefer other companies. Hence, the struggle becomes quite challenging for some smaller firms who cannot compete with the larger firms in offering employee benefits. There are a number of factors that the firm may focus on to increase employee recruitment levels and enhance employee motivation. These factors combined may prove to result in a favorable situation in which employees may prefer to work for the smaller firm rather than go to the larger competitors (Debrah & Reid, pg 933, 1998). These factors include higher pays, better facilities, more benefits, training programs, or even a compromise on the part of the firm itself. The firm must analyze its personal situation in order to ...Download file to see next pagesRead More
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