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Job market

What is the job market?

Main HR glossary Job market
The job market is the system where employers offer job opportunities, and job seekers offer their skills, knowledge, and experience. It determines employment conditions, including salary levels, required qualifications, and competition for jobs.

Imagine a region where new companies are opening. They start looking for employees, offering different roles and benefits. Job seekers evaluate these opportunities and choose the best fit. This constant interaction between employers and workers is what shapes the job market.

The state of the job market depends on various factors, such as unemployment rates, demand for certain professions, technological advancements, and overall economic conditions. For example, if demand for IT professionals rises, salaries in the industry increase, and companies compete more aggressively for top talent.

For employers, understanding the job market helps in developing effective hiring and retention strategies. For job seekers, knowing market trends allows them to choose promising career paths and negotiate better conditions.

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Glass ceiling effectHalo effectEmotional intelligenceElectronic signatureAgeismAbleismWorkforce sizeEmployee value proposition (EVP)OKR goals for HR professionalsAbsence trackingPerformance managementHuman capital management (HCM)Absence managementBenefits managementQuality managementKnowledge managementEmployee performance improvementEmployee satisfactionRetention interviewHR technologyBias-free testingEmployee turnoverStructured interviewHR strategyRetention strategyStrategic planningEmployee handbookBoomerang employeeSourcingSaltingShortened workweekNon-disclosure agreement (NDA)Screening testsSituational leadershipHRM system (HRMS)Performance management systemApplicant tracking system (ATS)Seasonal employmentOvertime workJob marketEmployee referral programsRecruiting softwareRecruitingEmployee empowermentPayroll processingEqualityWorkforcePeople managementSkills gapSoft skillsMental health at workHR processesHiring processProfessional developmentSoftware as a service (SaaS)HR management softwareBackground checkTalent acquisitionNew employee introductionHourly employeeContinuous performance managementAbsenteeism policyDirect reportsBehavioral interviewBehavioral competenciesPerformance improvement planFloating holidayTermination letterJob evaluationOffboardingDisability leaveSick leaveLeave of absenceTime trackingHoliday payAgile methodologyOrganizational chartEmployee experiencePaid time off (PTO)Onboarding processZero-based budgeting (ZBB)Job dissatisfactionNepotismIndependent contractorMetricsLoyalty of employees (eNPS assessment)Cross-functional teamsMatrix organizationTurnover rateVacancy rateCompetencyHoliday accrualCompensationCore competenciesKey workerKey Performance Indicator (KPI)Employee classificationEmployee directoryCareer siteCareer growthCareer pathCareer plateauWorkforce planningArtificial intelligence in HRHuman resources information system (HRIS)Intellectual propertyEmployee Net Promoter Score (eNPS)Employee life cycleRevenue per employeeHarassmentJob instructionDocument management in HRVoluntary benefitDisciplinary proceduresDisciplinary actionBusiness partnershipHR dashboardHybrid work modelBusiness agilityFlexible working hoursExit interviewEmployee burnoutOne-on-one meetingsRecruitment funnelEmployee engagementInternal recruitmentVirtual HRVertical organizationWellness programsGross incomeGross amountGross wagesEmployer brandEmployee benefitsSick leave payWell-beingHR business partnerEmployee databaseBuddy systemOutstaffingOutsourcingHR auditAssesment centerUpskillingHR analyticsJob analysisTraining needs analysisWorkforce utilization analysisWorkforce availability analysis


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