What is the difference between labor supply and labor demand? ...

[jparksx]

What is the difference between labor supply and labor demand? When labor demand exceeds labor supply, what employee recruitment sources are available? What are the advantages and disadvantages of each source?
 
  What will be an ideal response?

Question 2

The best way to recruit protected-class job applicants is to target those individuals with a recruiting message designed specifically for them.
 
  Indicate whether this statement is true or false.

[bfulkerson77]

Answer to Question 1

Answer: Labor supply is the availability of workers who possess the required skills that an employer might need. Labor demand is the number of workers an organization needs. Estimating future labor supply and demand and taking steps to balance the two require planning. Summary of recruitment sources:
 Current employees
strength - employees see opportunities for promotion
weakness - automatically creates another job opening to fill
 Referrals
strength - referrals tend to stay with a company longer and display greater loyalty and job satisfaction than employees recruited by other means.
weakness - may decrease diversity as employees tend to refer people who are demographically similar to themselves.
 Former employees
strength - they already have experience with the business and tend to be safe hires.
weakness - they may harbor some resentment against the business if their employment was involuntarily terminated.
 Advertisements
strength - can be used for local and distant searches and can reach large pools of potential applicants.
 Employment agencies
strength - often find candidates who are not looking for a new job and whose current employer is pleased with their performance
weakness - a fee is owed to the agency
 Temporary workers
strength - can find temporary help in a time of need
 College recruiting
strength - a large pool of educated potential applicants
 Customers
strength - customers are generally pleased with the organization's performance and service and may have insight into how the organization could be improved.

Answer to Question 2

Answer: FALSE