Market, Labour Market Szabó Rozália

Market, Labour Market - Outline The Market What is it? Supply and Demand Market Structures Types of Market The Labour Market Recruitment Selection Documents (CV, Covering letter)

The Market What is it? 1 It is the place where supply and demand meet. 2 It is the system of exchanges based on supply and demand.

Supply and Demand Supply: the amount of goods and services available to use or buy. Demand: the amount of goods and services wanted by customers.

Supply and Demand (con.) The relationship between supply and demand influences prices. Market price: the point where the supply and the demand curve meet.

Supply and Demand The basic rules of market mechanism: If demand exceeds supply, the price increases. If supply exceeds demand, the supplier decreases the prices to encourage customers to buy more. The price and quantity are inversely related.

Supply and Demand Equilibrium Over-supply Over-demand

Market Structures Based on the number of sellers: Oligopoly: the market is dominated by a few large suppliers. Monopoly: the market is dominated by only one supplier.

Types of Market Real estate market Plots with or without buildings Capital and money market Long- and short-term funds, investments Commodity market Consumer durables and fast-moving consumer goods (FMCG) Labour or job market

The Labour or Job Market Human resources are in the centre of supply and demand. Vacancy →Recruitment Recruitment: In-company Outside the company

The Labour Market (cont.) In-company recruitment notice boards news bulletins recommendations from managers, supervisors

The Labour Market (cont.) Recruitment outside the company: Placing advertisements in newspapers or magazines Job description, specification Conditions of work and salary Recruitment agencies Providing a list of suitable candidates Executive search firms /headhunters

The Labour Market Application of candidates for the position: CV + covering letter Standard application form Selection (HR or Personnel Department) Assessment Short-listing Job interviews – conducted by the interviewing panel

The Labour Market Documents to be submitted: CV /Resumé Covering letter/Letter of Application

The Labour Market Parts of a Curriculum Vitae: Personal particulars (name, address, date of birth, tel. no., address) Education Qualifications Work experience Skills Interests References

The Labour Market Parts of a Covering Letter: Purpose of writing, introduction Where you saw the ad Why you want the job Emphasising your most relevant experience and skills How you meet the requirements, why you can be one of the best candidates When you are available for an interview.

Covering Letters I am interested in working as a …. I wish to apply for the job of a …. advertised in ….. I think I could satisfactorily fill the post you advertised in…. I am said to have excellent interpersonal skills. I would be delighted to have an opportunity to work for your company. My reasons for a change are the greater opportunities offered by this position.

Covering Letters As you can see from my Curriculum Vitae… I have had …years of experience of….. At present I am employed as ….. My qualifications seem to fit me for this position. I left school with very good grades in….. I took a …-year course at ….. I obtained a certificate of intermediate level English in… I graduated from …university.

Covering Letters The persons below may be contacted as a reference. I would appreciate the privilege of a personal interview. Please find enclosed a copy of my resumé. I will be available for an interview any day after…. I may be reached/contacted at the above address.

Covering Letters Thank you very much for your time and consideration. I would appreciate an early reply from you concerning my application.

Thank you for your attention.