Strategic Talent Acquisition and HRM

Strategic Talent Acquisition

• Strategic Talent Acquisition defined: Planning, attracting, developing, and retaining a competent workforce
• Having organizations with the right people with the right skills, at the right time, is very important

Objectives of Human Resource Management (HRM)

• Ensure Proper Staffing: Adequate employees in correct positions
• Optimize Organizational Effectiveness: Align HR strategy with business goals
• Legal Compliance: Enforce labor laws and regulations

Strategic Human Resource Management

• Strategic HRM involves designing and implementing HR policies and practices
• Its purpose is to align human capital with organizational objectives

Key Human Resource Management Processes

• Human Resource Planning: Projecting the required employee levels
• Recruitment: Attracting qualified candidates
• Employee Selection: Hiring the best fit
• Onboarding: Integrating new employees
• Learning & Development: Employee training for growth
• Safety & Health: Promoting employee well-being
• Retention & Dismissal: Managing the length of employee tenure with a company
• Labor Relations: Ensuring positive employer-employee relationships

Competent & High-Performing Workforce

• Compensation & Benefits: Offering attractive benefits and competitive pay
• Performance Appraisals: Measuring and enhancing employee performance

Key Staffing Decisions

• Whether to Join the Workforce must be considered
• What Position an applicant would like to Fill needs to be decided
• Whether to Apply for a Position must be part of the candidate's thought process
• Who Will Receive Offers must be identified by the organization
• Whether to Accept an Offer must be decided
• Whether to Retain an Employee must be considered
• Whether to Leave a Position must be decided

Approach to Talent Acquisition

• Start at the Individual Level: Develop talent for staffing specific positions
• Expand to Organizational Staffing: Apply staffing and training principles to larger teams and entire organizations

Inside the Staffing Cycle Framework

• The staffing method is a decision sequence and not just a process

Key Considerations for Staffing Cycle Framework

• Sequential Dependence: Each staffing decision affects the subsequent one
• Temporal Separation: Staffing decisions occur over time
• Alternating Decision Control: Control of staffing decisions alternates between organization and applicant
• Boundaries of the Staffing System: Establish the start and stop point of staffing decisions

Joining the Workforce (D1)

• The applicant considers personal factors (work hours, salary, benefits)
• The organization aims to attract potential employees

Job Design (D2)

• The organization defines job roles, responsibilities, authority, and training needs
• The organization also establishes selection criteria
• The applicant expresses job preferences

Attracting Applicants (D3)

• The organization aims to attract high-quality applicants
• The organization determines the value of the staffing cycle
• The applicant decides if the job is appealing

Selection (D4)

• The organization determines who gets job offers
• The organization uses selection methods to optimize costs
• The candidates decide if they are interested in accepting the offer

Job Acceptance (D5)

• The organization uses benefits and bonuses to make offers attractive
• The effectiveness of recruitment strategies influences job acceptance
• The applicant will decide if the offer is sufficient

Retaining Employees (D6)

• The organization decides whether or not they still need the position
• The organization decides whether or not the employee is performing effectively
• The employee decides whether or not they are happy in their role

Employee's Decision to Stay (D7)

• The organization uses pay and incentives to encourage employees to stay
• The employee weighs whether the job continues to meet their needs

Key Takeaways for Staffing

• Staffing is an ongoing cycle of decision-making between employer and organization
• Effective staffing requires focus on job design, attraction, selection, and renetion
• Employees continually evaluate their positions, deciding to stay or leave based on job satisfaction and incentives

The Staffing Cycle Framework: Joining the Workforce

• Joining the Workforce is the first step in the staffing cycle
• The Decision Makers are the Organization (Influencer to attract workers) and Potential workers (the Decision Maker on whether or not to work)

Key Considerations for Joining the Workforce

• Should candidates work at all?
• How much workload should candidates accept?
• What benefits should candidates look for?
• What compensation package should a candidate look for?

Factors That Influence Workforce Participation

• Economic & Government Data Sources are useful key insights
• Bureau of Labor Statistics (BLS) is at www.bls.gov
• U.S. Census Data is at www.census.gov
• U.S. Department of Labor (DOL) is at www.dol.gov

Key Workplace Metrics

• Size of the U.S. Population: 340.1 million
• Size of the U.S. Workforce: 170.7 million
• Current Unemployment Rate: 4.0%
• Number of Unemployed Individuals: 6.8 million
• Median Wage Levels: 61k-62k

Factors Affecting the Decision to Join or Leave the Workforce

• Joining the workforce offers financial stability, career growth, covers the cost of living, and includes employment benefits
• People leave the workforce because of reservation wage, cost of childcare, wealth, health issues, and/or economic conditions

Key Takeaways For Workforce Decisions

• Financial, social, and economic factors drive the decision to join the workforce
• While an organization tries to attract workers, individuals decide whether to participate
• Job market decisions are influenced by macroeconomic factors and life circumstances

Statistical Techniques in Staffing

• Trend Analysis: Predicting future staffing needs using historical employee data
• Ratio Analysis: Estimating staffing needs by examining production to employee ratios
• Correctional Analysis: Assessment validity via measuring the relationship between two variables
• Regression Analysis: Predicting future staffing using different factors

Designs for Studying Staffing

• Experimental Design: Randomly assign subjects to treatment and control groups to measure cause & effect, like a new hiring process’ impact
• Quasi-Experimental Design occurs naturally (economic recessions, technology changes) and provides real-world insights even though its not fully controlled
• Non-Experimental (Observational) Design relies on data collection and analysis without manipulation, determining only possible causation

Experimental Design Methods examples

• Pre-test, Post-test Control Group
• Single Group Pre-test, Post-test
• Post-test Only Control Group
• Single Group Post-test Only

Sampling in Staffing Research

• Sample Representativeness is key to generalizability
• Large sample sizes reduce sampling error

Financial Analysis in Staffing

• Retirement Planning Formula factors annual money needed, life expectancy, and inflation rate

Financial Strategies for Organizational Success

• Strategies cover engaging in relevant activities, improving efficiency, and preventing unwanted behavior

Key Takeaways for Staffing Strategies

• Data-driven decision-making is vital for effective staffing
• Statistical methods forecast workforce needs and improve recruitment
• Experimental design uses evidence-based approaches for Human Resources
• Financial analysis plans workforce and costs for the long-term

Key Factors for a Job Opening Creation

• Adds value to the organization
• Enough people are qualified and available
• Attracts the right candidates

HR Planning

• Forecasting staffing needs and building action plans is very important
• HR Planning assists in hiring, selection, and evaluating recruitment

HR Planning measures/goals

• How many individuals should the organization hire?
• Which jobs need to be filled?
• What skills and abilities should candidates have?
• Where are employees needed?
• When should employees be hired?

Definition of a Job

• Jobs = Responsibilities
• Jobs = Tasks
• Jobs = Prescribed behaviors

Assigning Responsibilities & Tasks

• Division of labor needs careful planning
• Options- Generalists trained for multiple tasks
• Specialists assigned to defined tasks

Economies of Work Specialization

• Not all jobs contribute equally to an organization's overall goals
• Job attractiveness differs based on conditions, salary, and responsibilities

Job Design Approaches

• Scientific Management focuses on efficiency
• Humanistic/Motivational focuses on increase satisfaction and engagement

Other Job Design Issues

• Ergonimic/Human Factors ensures jobs are physically comfortable and safe
• Perceptual/Motor Approach design jobs to reduce mental workload and errors
• Task Interdependence refers to how reliable jobs are on each other
• Teams are job roles within team-based structures.
• Gig/Contract Employment is on the rise (rise of freelancing & short-term contracts)
• Remote Work is another rising trend with more jobs allowing work-from-home options
• Full-Time vs. Part-Time defines the employment status.
• Work Week Definition helps define standard working hours.
• Compensation & Benefits helps attract and retain employees.
• Overtime Eligibilty defines who qualities for extra pay?

Key Takeaways for Job Design

• Job design impacts productivity, efficiency, and employee satisfaction
• To reach strategic goals, organization needs to balance specialization and generalization
• HR planning needs to align with staffing
• Job design is reshaping due to new trends

Improving Individual Job Performance

• To enhance individual performance; skills increase, reach a plateau, drop temporarily with new tactics, then rise again after learning

Performance Over Time with New Tactics

• Performance rises initially as expertise increases
• Performance may drop with new tactics
• Stabilization with new skills

Key Insights from Performance Models

• Introducing new methods/technologies can lead to performance drops
• Individuals adapt rapidly, leading to long-term performance gains
• Improvement increases with each learning cycle

Strategies to Improve Organizational Outcomes

• Engaging in relevant activities
• Improving efficiency
• Enhancing productivity
• Avoiding unwanted behavior

Key Takeaways for Improving Organizational Outcomes

• Skill development is a constant cycle of growth, decline, stabilization, and improvement
• New tactics result in short-term losses before improving long-term gains
• Organizations should center on continuous self-improvement

Job Analysis

• Job Analysis focuses on gathering and analyzing job information
• It assists in recruiting, selecting, and workforce planning

Key Components of Job Analysis

• Job Description defines role and responsibilities for recruits
• Specification lists skills, qualifications, and attributes to improve retention

Job Analysis & The Staffing Cycle Framework

• Job analysis, D1, helps potential employees understand available jobs
• Job analysis, D2, guides decisions on job creation
• Job analysis, D3, attracts applicants
• Job analysis, D4, determines selection criteria
• Job analysis, D5, impacts job acceptance decisions
• Job analysis, D6, impacts performance management and retention
• Job analysis, D7, impacts exit decisions

Position Description Writing Guide

• Job descriptions should cover responsibilities, duties, and working conditions
• Job specifications should include skills, qualifications, experience, education and competencies

Key Takeaways for Job Analysis and Staffing

• Job analysis is an internal process, therefore, guides recruitment and provides expectations
• Job Specifications and Understanding improve overall workforce retention

Utility Analysis

• Utility Analysis helps assess HR decisions
• It figures out how context and interventions impact hiring
• It figures out the worth so different methods against random hiring

Understanding the Z-Score for Utilities

• The Z-score standardizes variables
• Normal Distribution ranges from ±1 SD (68% outcomes) to ±3 SD (99% outcomes)
• Z-Scores helps predict candidate job performance based on a selection predictor

Interpreting Z-Scores

• Z_x reflects a candidate's anticipated job performance
• Candidate scores help determine strength by utilizing the normal distribution

Validity Coefficient

• This assessment measures how candidates correlates with future job roles using scale -1 to 1
• Stronger correlation results in a more accurate hiring outcome
• Higher coefficients are more reliable/better predictor than weak ones

Standard Deviation of Performance

• SD_y is the value (in dollars) of a 1.0 deviation in performance
• SD_y is influenced by job importance, performance, and variability
• Measuring and estimating helps predict employee success

Utility Analysis Interpretation

• Utility analysis compares hiring strategies
• This formula displays value using different processes
• Random hiring is shown to result in zero utility

Types of Utility Analysis Example Problems

• Consulting
• Retail

Key Takeaways/Measures for UTility

• Measures the impact of different hiring decisions.
• Greater validity leads to better results
• SD_y values means performance variance between colleagues

Recruitment

• This is the process of searching for and selecting qualified candidates
• It draws in the right people for the right positions

Staffing Cycle Framework & Recruitment

• The recruitment stage effects staffing decisions in phases D1 to D7

Recruitment ensures

• Attain the right candidate qualities
• Attract ideal amount of candidates
• Attract candidates at optimal period aligning with business goals at reasonable expenses

Recruitment Guide

• A recruitment guide is a document that includes the timeline, expenses, key requirements, and steps for attracting & hiring candidates

Subpopulation of Recruits should be identified, for example:

• Where to search for qualified candidates
• What skills and qualifications should the candidates have

Communication channels should be identified, for example:

• What job is most suitable?
• How to bring awareness around job openings?

Determine recruitment messaging, for example:

• Have a message to attract qualified candidates

Recruiting can be performed using two approaches:

• Open recruitment casts a wide net to capture as many candidates
• Targeted recruitment focuses on candidates with certain expertise

Recruitment: Centralized vs Decentralized

• These hiring structures influence internal, external, timing and budget considerations

Factors that Influence applicants reaction

• Job and Organization characteristics
• Fairness and Ease of application (recruitment process)
• Recruiters
• Org structure

Diversity & Inclusion in Recruitment

• Organizations target underrepresented groups
• They customize messages to different demographics

Types of Communication Messages:

• Employment focused (company being a great place for work)
• Targeted Messaging (aimed at specific groups of candidates)
• Realistic (presenting actual details instead of idealizing)

Advertising the jobs can use recruitment communication media such as:

• Classifieds
• Banners
• Recruitment brochure
• Fairs, networking, and social media

Organizations can source and offer information to potential employees with:

• Social services
• Placement offices
• Internal and external staffing agencies

Key Takeaways for Recruitment

• Effective staffing, targeting, messaging, inclusiveness brings success
• Effective recruitment helps get the right employee at the right time and expense

Explore strategic talent acquisition, objectives of HRM, and key processes. HRM aligns human capital with organizational goals through planning, recruitment, and employee development.