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Search Theory in Employment Scenario

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Financial markets

Introduction

There have been changes in technology over years with people appreciating and embracing the technological changes. This has been witnessed even in the job search sector with most jobs advertised online. The use of internet has not only made the work easier but issued an efficient and effective platform for job search. Job websites like Monster.com has enabled many to get information in relation to vacancies. This has made them apply and in the process develop their careers in an easier manner. The Search Theory supports the notion that information availability helps in the reduction of frictional unemployment among workers (Alper et al., 2013). According to Stevenson (2008), the use of internet has enabled workers to change jobs without huge unemployment spell. Based in these two readings, job search using internet is improving today’s workers prospects when it comes to employment.6

Search Theory

This theory is about sellers and buyer who struggle to find a partner in commerce at the spot. The theory specifically aims in finding the optimal strategy when choosing from several opportunities. The assumption made in the choosing is that there is a cost related to not making the decision. The search theory helps in the identification of the balance between cost and value. The cost is in relation to delay while the value is as per the act of trying again (Alper et al., 2013).

Application of Search Theory in Employment Scenario

This is one of the most influential theories in the economics field as to date. This theory is normally used in the economics of labor to study unemployment and factors related to it. The kind of employment studied is normally those caused by the employees seeking jobs that they desire more. The theory holds that desirability of a given occupation depends on the values of the available alternatives minus the undesired act that is associated with the hunt. That is,

Occupation Desirabity = Alternatives Value- Hunting Undesirability

This simply means that the desire of a given occupation depends on the value of the alternative jobs and the undesired to hunt the jobs (Alper et al., 2013).

The use of internet in the job search has improved the desire when it comes to occupations. This is because of the fact that it has improved the information in relation to the alternatives in the market. Internet also has reduced the undesirability that is related to job search. Internet is a friendly method that is cost effective and reliable making people to desire its use (Alper et al., 2013).

Employment Prospect Improvement

First, it allows the employee to search for the known distribution of the vacancies. The known distribution vacancies are the job vacancies that one is aware of their existence. The information in relation to their existence can be from a friend, colleague or print material. The use of internet will increase the chances of employment since it will provide additional information in relation to the vacancy. The information can be in terms of how to apply for the job or the requirements that needed for application or the qualifications (Autor, 2001).

According to Jansen, Jansen, & Spink (2005), the use of internet can improve the employee’s employment prospect enabling the search for ‘unknown jobs’. This gives us the second point of this section which is searching for the unknown vacancies. ‘Unknown jobs’ are the jobs that one didn’t know of their existence thus could look no information in relations to it. This is normally done through random search in the job advert sites and sees if there are any relevant jobs. The ‘unknown job search’ can also be done trough random access to websites or other sections including sending emails o friends and social media. Internet job search allows for the search of jobs in a randomized manner (Glover, 2009). Jobs are always posted in a daily basis in the job sites thus making it important for randomized job search in these sites. This increases the chances that the employee will get a better job or develop his or her career to the better.

The last point in this sector will be that internet job search can enable one to get a better job. The changes can be in terms of increased payment, increased benefits, higher or the change of environments. Using internet to search for jobs can enable one learn if the place they work at is really to the standard. If not, one can take the action of going to the better place or occupation or industry. Getting a better job normally comes with satisfaction and thus one values him or herself which is the main reason for career development (Holzer, 1996). According to Windleton and Five O’clock Club, people do go to internet so as to see that they access and apply to better jobs or positions. This is from the fact that in the market there are different ranges of salaries that are offered. These regions may be divided into the sections of government, non- government and private organizations. Similarly, the requirements needed in a given position may differ in terms of level of competence, experience or qualification.

The Internet and Job Search by Stevenson

Majority of the people who use internet when searching for jobs normally get employed in the relevant sectors they want to (Stevenson, 2008). These employment sectors have also made it clear that the internet is the way to go since this are the areas that they advertise jobs. Internet has enabled the employees to identify and shift from job to job in an easy way. There are several ways to which this improves the employee’s employment prospects; these are discussed below.

Employment Prospect Improvement

First prospect is that the internet offers job options to the employee without looking for in several sources. The internet allows the employee to get access in relation to the vacancies at the sitting position. This makes the employee to not waste time walking or engaging in activities as he or she looks for vacancies. As any other source of media, the fact that it informs the employee is an act of awareness creation. This makes the employee informed of the surrounding and the job vacancies that are related to his or her career. Most of the employers have shifted and advertises their jobs online thus one can only access the information through use of internet. Employers also have shifted their mentality and prefer the use of emails when it comes to job application. This ensures that the application gets to the relevant authority in a short span of time. Email use for job application also helps in the ensuring reliability of the means (Green, 2010).

Secondly, use of internet in job search shows that the employee is up to date with the changes in technology. Dynamicity of the work places is a reality and the employees prefer potential employers or employers to be able to use these technologies. For example, a marketing firm that uses online as a strategy of marketing will only prefer sales person who know how to use the internet (Onah and Nigeria, 1994). The fact that most people are educated and have similar qualification makes it relevant to appreciate an additional skill. This means that those with the information in relation to internet use have higher employment chances that those who don’t.

Thirdly, the use of internet in job search is cheaper compare to other means thus cost effective. Internet use can be in a bus, at a place of work, in the garden or any other place. This allows the act of multi tasking thus saving time. Using internet to search for jobs allows one to look for a job without making frictions with the present employer. This is because the employee will look for the jobs while at the office in the free moments between the working hours. This develops the career of the employee at the place of work. The same time it makes the employee aware of the greener pastures and their availability (Bellante and Jackson, 1983).

Fourthly, the use of internet for job search improves the employment prospect of an individual through increasing the engagement frequency. The internet allows for the employee to engage as much as he or she wants with the site as he or she search for jobs. This freedom of engagement makes the use of internet in job search become flexible. With flexibility, internet then turns to be the best choice since one can refer to a site as many times as he or she wants. The fifth point will be in terms of reliability of the internet in job search. Most organizations normally make their advertisements in the website so that makes it appropriate for one to search jobs in the website (Keifer and Neumann, 1979). Even the adverts that are normally in the print source are first put in the website before getting them to the print media. This makes the employee therefore to get first hand information. Reliability of the use of internet also goes together with its accessibility compared to other means. This makes accessibility the sixth point: since the internet can be used in 24 hours, no matter the place, it is more accessible. Accessibility of the internet makes it more effective and efficient since time is not wasted.

The seventh point is that internet job search equips the employee with the information in relation to job characteristics. Internet job search enables one to know the culture of the firm thus able to see if he or she can fit. This is through the information that is normally given in the organizations website. The eighth point is that internet job search enable creation of personal network. This is normally done through the platforms like LinkedIn among others. Through these networks the employees can know what to expect in the organization in terms of salary and also the environment (Green, 2010).

Conclusion

The Search Theory has three points that supports that internet job search improves the employees of today prospects. The work by Stevenson (Dissertation) also gives more than seven points as evidence of the same. Using this two works, it is therefore clear that the use of internet in job search in this era increases the prospect of the employees.

Work Cited

Alpern, S., In Fokkink, R., In Gąsieniec, L., In Lindelauf, R., & In Subrahmanian, V. S. (2013).Search theory: A game theoretic perspective. New York, NY: Springer.

Stevenson B. (2008). The Internet and Job Search (Doctoral Dissertation). Retrieved from National Bureau of Economic Research, Cambridge. (Order No. 13886)

Green, L. (2010).The internet: An introduction to new media. Oxford: Berg.

Keifer, N., & Neumann, G. (1979). An Empirical Job Search Model, with a Test of Constant Reservation Wage Hypothesis. Journal of Political Economy, 87 (1), 89-107

Bellante, D. and Jackson, M. ( 1983). Labor Economics: Choices in Labor Markets. New York: McGraw- Hill

Autor, A. (2001). Writing the Labor Market. Journal of Economic Prospect, 15 (1), 25-40.

Jansen, B., Jansen, K., & Spink, A. (2005) Using the Web to Look for Work: Implication of Online Job Seeking and Recruiting. Internet Research: Electronic Networking Applications and Policy, 15(1), 49- 66.

Holzer, H. (1996). What Employees Want: Job Prospects for Less- Educated Workers. New York: Russell Sage Foundation.

Glover, C. (2009).How to Use the Internet to Get Your Next Job. Atlanta: Atlantic Pub Co.

Wendleton, K., & Five O'Clock Club (New York, N.Y.). (2014).Shortcut your job search: Get meetings that get you the job. Boston, MA: Cengage Learning.

Onah, F. E., & Nigeria. (1994).Employment prospects and training needs for self-employment in Nigeria. Lagos: National Manpower Board.


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