In Periods When there are more Qualified Candidates than Job Openings GMAT Reading Comprehension

Reading Passage Question

In periods when there are more qualified candidates than job openings, human resource departments may develop employee retention myopia, discounting the effect of their shortsightedness on everything from daily product sales to effective succession planning. In addition, despite conflicting evidence about whether demographic trends related to baby boomer retirements may or may not constitute a code red, every human resource department does face a potential threat from that phenomenon, and should continue to focus sharply on the retention of its most talented and productive employees. While some issues in employee retention, such as defined expectations and clear supervision, now seem codified, the landscape appears to shift more elusively and continuously in the area of benefits. As noted in the influential tenth annual MetLife study of benefits, employee level of engagement in the issue of benefits has burgeoned. Ten years ago, according to the study, employees were far less likely to consider, let alone calculate, the true value of benefits when assessing an employment offer. Currently, they are more likely to appreciate what their employer provides, even if they personally have to incur some portion of the cost of those benefits.

Finally, the keen interest in benefits and the attribution of a quantifiable value to them is now common among younger workers as well as older ones. The study also suggests that while wage and salary issues continue to rate as the pre-eminent factor in employee loyalty, medical and retirement benefits are a close second and third and rank above the opportunity for advancement. More stunningly or perhaps soberingly—employees rate nonmedical benefits such as vision, life, and disability insurances on a par with the importance of opportunity for advancement. Study data also suggest the increasing value of voluntary benefits in achieving human capital goals. Increasingly, personalised benefits, geared to the needs of particular age groups, have come to the fore as a factor in employee satisfaction and retention. Particularly in those companies where a serious talent or skills shortage prevails, and in those positions where long-term, costly training is needed, personalised benefits may tip the human capital balance.

‘In periods when there are more qualified candidates than job openings’ is a GMAT reading comprehension passage with answers. Candidates need a strong knowledge of English GMAT reading comprehension.

This GMAT Reading Comprehension consists of 4 comprehension questions.

The GMAT Reading Comprehension questions are designed for the purpose of testing candidates’ abilities in understanding, analyzing, and applying information or concepts. Candidates can actively prepare with the help of GMAT Reading Comprehension Practice Questions.

Solution and Explanation

1. In the passage, the author’s chief concern is to

(A) suggest that benefits may be more important than ever in employee retention.
(B) analyze the influential tenth annual MetLife study of benefits.
(C) suggests the often overlooked role of personalized benefits in employee retention.
(D) stress the need for continuity of benefits in periods of high unemployment.
(E) urge employers to continue to offer the same benefits as always.

2. It can be inferred that the author

(A) is an expert in employee benefits.
(B) may be relying too heavily on a single source.
(C) has wide ranging knowledge of the benefits field.
(D) is most likely employed by a benefits company.
(E) believes baby boomer retirements are not a problem.

3. Which of the following is NOT mentioned in the passage as a reason for focusing on benefits as a method of employee retention?

(A) the importance of employee retention to effective succession planning
(B) the costs of training new employees
(C) the continuous change in what employees want and value in terms of benefits
(D) predominance of benefits in the hiring discussion
(E) a new desire among employees for personalised benefits

4. With which of the following statements would the author most likely agree?

(A) Younger workers paid less attention to benefits in the past.
(B) The amount of employee interest in benefits has wavered in recent years.
(C) Most employees are not willing to take on additional copays for most benefits.
(D) Having life and disability insurance is less important than the opportunity for advancement.
(E) Voluntary benefits must be personalised to the ages and life stages of employees.

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