Final answer:
To improve competitive balance in recruiting, organizations can implement professional human resources functions, foster meritocratic environments, and prioritize diversity to stay competitive in the market.
Step-by-step explanation:
Improving competitive balance in recruiting can be achieved through several strategies. Firstly, organizations can ensure professional human resources functions are in place to reduce bias in the hiring process. Research has shown that bias exists in hiring practices, such as discrimination against individuals with certain ethnic names. By conducting fair and unbiased recruitment processes, organizations can attract a more diverse pool of candidates and improve competitive balance.
Secondly, organizations can focus on creating meritocratic environments that value qualifications and skills over factors like race or gender. Instead of specifically seeking members of certain groups, a merit-based approach allows individuals from underrepresented backgrounds to compete on their own merit. This approach fosters a more level playing field for all candidates.
Lastly, market forces can incentivize businesses to act in a less discriminatory fashion. A diverse workforce has been shown to enhance innovation, creativity, and overall business performance. In a competitive business landscape, companies that prioritize diversity and inclusion are more likely to attract top talent, gain a competitive advantage, and achieve long-term success.