Hiring · HR glossary

External Labour Market

The external labour market consists of workers and opportunities outside an organisation. Employers use it when recruiting externally or comparing skills availability and pay conditions.

Example

A company evaluates how many qualified applicants are available in its region and what competing employers offer for similar work.

What to keep in mind

External conditions can change quickly and vary by occupation. Combine current evidence with realistic assumptions about candidate interest rather than treating all people with a skill as available applicants.

Further reading

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