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Expanding the Talent Pool: Recruitment and Careers

Expanding the Talent Pool: Recruitment and Careers. The Challenges of Human Resources Management. Chapter Objectives After studying this chapter, you should be able to. Describe how a firm’s strategy affects its recruiting efforts. Outline the methods by which firms recruit internally.

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Expanding the Talent Pool: Recruitment and Careers

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  1. Expanding the Talent Pool:Recruitment and Careers The Challenges of Human Resources Management

  2. Chapter ObjectivesAfter studying this chapter, you should be able to Describe how a firm’s strategy affects its recruiting efforts. Outline the methods by which firms recruit internally. Outline the methods by which firms recruit externally. Explain the techniques organizations can use to improve their recruiting efforts. Explain how career management programs integrate the needs of individual employees and their organizations. Explain why diverse recruitment and career development activities are important to companies. LEARNING OUTCOME 1 LEARNING OUTCOME 2 LEARNING OUTCOME 3 LEARNING OUTCOME 4 LEARNING OUTCOME 5 LEARNING OUTCOME 6

  3. Strategic Aspects of Recruiting • Decisions about talent — regardless of whether they pertain to recruiting, transferring, promoting, developing, or deploying people—need to be considered within the context of a business’s strategies and priorities. • The broad factors that can affect a firm’s recruiting strategy include a firm’s • Recruiting abilities, • whether to recruit externally versus internally, • the labor market for the types of positions it is recruiting for, including global labor markets, and • the strength of a firm’s employment “brand.”

  4. Who Should Do the Recruiting? • HR recruiters or generalist (large firms) • Managers and/or Supervisors (smaller firms) • Work Teams, or • Recruiting Process Outsourcing (RPO) • The practice of outsourcing an organization’s recruiting function to an outside firm.

  5. Global Labor Markets • Why Recruit Globally? • To develop better products via a global workforce • To attract the best talent wherever it may be • International Recruiting Issues • Local, national, and international laws • Different labor costs • Different pre-employment and compensation practices • Cultural differences • Security • Visas and work permits

  6. Should a Firm Recruit Internally or Externally? • Most managers try to follow a policy of filling job vacancies above the entry-level position through promotions and transfers. By filling vacancies in this way, an organization can capitalize on the investment it has made in recruiting, selecting, training, and developing its current employees, who might look for jobs elsewhere if they lack promotion opportunities. • There are Advantages and Disadvantages to both.

  7. Labor Markets • Labor Market • Area from which applicants are to be recruited. • Tight market: high employment, few available workers • Loose market: low employment, many available workers • Factors determining the relevant labor market: • Skills and knowledge required for a job • Level of compensation offered for a job • Reluctance of job seekers to relocate • Ease of commuting to workplace • Location of job (urban or nonurban)

  8. Recruiting Internally • Internal Job Postings • Identifying Talent through Performance Appraisals • Skills Inventories and Replacement Charts

  9. Warning Signs of a Weak Talent “Bench”

  10. Recruiting Externally • Advertisements • Walk-Ins and Unsolicited Applications and Résumés • The Internet, Social Networking, and Mobile Recruiting • Job Fairs • Employee Referrals • Re-recruiting • Executive Search Firms • Educational Institutions

  11. Recruiting Externally (cont.) • Professional Associations • Labor Unions • Public Employment Agencies • Private Employment and Temporary Agencies • Employee Leasing

  12. Major Temporary Help Agencies in the United States

  13. Improving the Effectiveness of Recruiting • Using Realistic Job Previews • Surveys • Recruiting Metrics Surveys Recruiting Metrics Effectiveness ofRecruitment Realistic Job Previews

  14. Recruiting Metrics • Quality of Fill Statistics • Quality of Hire = (PR + HP + HR) / N • PR = Average job performance rating of new hires • HP = % of new hires reaching acceptable productivity with acceptable time frame • HR = % of new hires retained after one year • N = number of indicators

  15. Recruiting Metrics (cont.) • Example: • PR = Average 3.5 on a 5.0 scale = 70% • HP = Of 100 hires made one year ago, 75 are meeting acceptable productivity levels = 75% • HR 5 20% turnover = 80% HR • N = 3 • Quality of Hire = (70 + 75 + 80) / 3 = 75 The result is a quality level of 75 percent for new employees hired during the year.

  16. Recruiting Metrics (cont.) • Time to Fill • refers to the number of days from when a job opening is approved to the date the person ultimately chosen for the job is selected • Yield Ratios • The percentage of applicants from a recruitment source that make it to the next stage selection process

  17. Time-to-Fill Calculations

  18. Costs of Recruitment • Cost of Recruitment (per employee hired) SC = source cost AC = advertising costs, total monthly expenditure (example: $32,000) AF = agency fees, total for the month (example: $21,000) RB = referral bonuses, total paid (example: $2,600) NC = no-cost hires, walk-ins, nonprofit agencies, etc. (example: $0) H = total hires (example: 119) Cost to hire one employee = $467.23

  19. Career Management: DevelopingTalent over Time

  20. Blending the Goals of Individual Employeeswith the Goals of the Organization

  21. Identify Job Progressions and Career Paths

  22. Recognize Different Career Paths • Promotion • A change of assignment to a job at a higher level in the organization • Transfer • Placement of an individual in another job for which the duties, responsibilities, status, and remuneration are approximately equal to those of the previous job • Consider Dual Career Paths for Employees • Consider the Boundaryless Career • Help Employees Progress beyond Career Plateaus

  23. Human Capital Profiles for Two Different Careers

  24. Successful Career-Management Practices • Placing clear expectations on employees. • Giving employees the opportunity for transfer. • Providing a clear and thorough succession plan • Encouraging performance through rewards and recognition. • Giving employees the time and resources they need to consider short- and long-term career goals. • Encouraging employees to continually assess their skills and career direction.

  25. Successful Career-Management Practices (cont.) • Lack of time, budgets, and resources for employees to plan their careers and to undertake training and development. • Rigid job specifications, lack of leadership support for career management, and a short-term focus. • Lack of career opportunities and pathways within the organization for employees.

  26. Career Plateau Questions

  27. Mentoring Functions

  28. Developing a Diverse Talent Pool • Recruiting and Developing Women • Eliminating Women’s Barriers to Advancement • Advancing Women to Management • Accommodating Families • Recruiting and Developing Minorities • Providing Minority Internships • Advancing Minorities to Management

  29. Other Important Talent Concerns • Recruiting the Disabled • Employing the Older Workforce • Employing Dual Career Couples

  30. Key Terms applicant tracking system branding assessment center career counseling career networking career paths career plateau dual career partnerships employee leasing employee profile fast-track program global sourcing internal labor market job progressions mentors nepotism 9-box grid outplacement services passive job seekers promotion recruiting process outsourcing (RPO) realistic job preview (RJP) relocation services rerecruiting sabbatical transfer yield ratio

  31. Chapter 5 - Learning Outcomes

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