Bifalgorithm post · IntroductionToBusiness OP 8D04gAa · 2026-10-07-36573 · 8.2. Employee Recruitment*

What are the internal and external labor markets?

What are the internal and external labor markets? (IntroductionToBusiness OP 8D04gAa · 2026-10-07-36573 · 8.2. Employee Recruitment*) — "When a firm creates a…

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  • Firms seek qualified applicants for new or vacant positions
  • A new position is created or an existing position becomes vacant
  • The firm begins searching for suitable applicants
  • Applicants must have qualifications that meet the job requirements
  • Job applicants come from two labor-market sources
  • The internal labor market consists of the firm’s current employees
  • The external labor market consists of potential applicants outside the firm
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What are the internal and external labor markets?

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IntroductionToBusiness OP 8D04gAa · 2026-10-07-36573

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"When a firm creates a new position or an existing one becomes vacant, the firm starts looking for people with qualifications that meet the requirements of the job. Two sources of job applicants are the internal and external labor markets. The internal labor market consists of employees currently employed by the firm; the external labor market is the pool of potential applicants outside the firm."

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