Lecture Notes
Lussier, Human Resource Management, Third Edition
SAGE Publishing, 2018
The process should be as efficient as possible because costs associated with recruiting, selecting,
and training a new employee is often more than 100% of the
a. II. External Forces That Affect Recruiting
Labor market
III. Forecasting a Firm’s Labor Demand
a. Labor market—external pool of candidates to draw recruits.
b. Seasonal forecasts—some business demands are seasonal and predictable.
The labor market is the term for the external pool of candidates from which to draw recruits.
Seasonal forecasts—some business demands are seasonal and predictable.
Interest rate forecasts—higher interest rates discourage capital investment. When interest rates
fall product demand rises.