Hiring Strategy for a Growing Business
A software company currently employs 10 developers, each earning a salary of $90,000 per year. The company is expanding and needs to hire 5 more developers to meet project demands. The HR department posts job openings offering the same $90,000 salary but receives very few applications from qualified candidates over several weeks. Based on the principles of labor supply for a firm, what is the most probable reason for this hiring difficulty, and what is the most direct action the company should take to attract the required number of new developers? Explain your reasoning.
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Ch.1 The supply side of the macroeconomy: Unemployment and real wages - The Economy 2.0 Macroeconomics @ CORE Econ
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