Human Resource Management Lecture 2 PDF

HUMAN RESOURCE MANAGEMENT LECTURE 2: Recruitment & Selection Recrutiment & Selection: First step in the Employee Lifecyle Hand in hand with Right number of people, with capacbilities… Recruitment: Attracting prospective candidates who show high fit with position and o...

HUMAN RESOURCE MANAGEMENT LECTURE 2: Recruitment & Selection Recrutiment & Selection: First step in the Employee Lifecyle Hand in hand with Right number of people, with capacbilities… Recruitment: Attracting prospective candidates who show high fit with position and organisation High quality applicants Selection: Determine which candidate best matches the five quality criteria and have high predictive validity Workforce provides unique competitive advantage since people can: Add consuderable value Be unique (or at least rate) Be difficult to replicate Human Resource forecasting is key stage of strategic recruitment and selection Forecasting: Human resource planning process Identifying estimated supply and demand for different types of HR in the organization over some future period, based on analysis of the past and present Forecasting: Determining supply and demand of: o Quantitative forecasting: § Trend analysis → Historical data § Ratio analysis → Calculating proportions § Regression analysis o Qualitative forecasting → Expert knowledge Goal setting & strategic planning: Considerations o Speed o Impact Labor surplus → Reduce number of employees: o Hiring freeze o Early retirments o Dowmnsizing Labor shortage → Increase number of employees o Overtime o Outsourcing o Hiring new workers Implementation Evaluation → Hold individuals accountable Recruitment Strategy: Recruitment: Attracting people to your organization Distinctions through: o Attractiveness o Fit Employer brand(ing): Extent to which an organization is recognised in its own right as a desirable place to work by the internal and external labour market Set of attributes and qualities often intangible that makes an organisation distinctive, promises a particular kind of employment experience, and appeals to those people who will thrive and perform to their best in its culture Spending on explicit cues in employer branding is inadvisable if it runs counter to the diffuse cues that potential applicants are exposed to Effective employer branding: Symbolic charactersitics: Intangible, subjective and abstract Perception of brand: o Shaped by degree of familiarity with the organization and external ratings of reputation o Shaped more by diffuse than by explicit cues → It has limited effect Implication for employer branding o Spending money on making big explicit statements is pointless if the diffuse cues about the brand say something else Congruency required between employer branding and: o Corporate & organizational identity → Internal o Current brand image → External  Better job ads: o Keep short and snappy o Adopt applicant’s perspective o Be specific o Make your values explicit o Show that you walk yoir talk o Avoid gendered wording How do you recruit? Low involvement strategies o Known company with positive image High involvement strategies o Proactively discuss reputation, values, and work culture Who does the recruiting? The more technical and specialized the position is the more important it is to have a recruiter who has knoweledge about the position Writing your employment strategy to diversify your pool: 1. Who does your current strategy not reach? 2. How can you reach them? 3. What would attract these applicants to your company? Recrutiment Practices: Internal recruitment Email listerv/intranet Employee referral program o One of higest yield ratios o Bonus for employee referring Hiring former employees o Small applicant pool o Better performers in roles with administrative coordination & interpersonal demands Job posting: o Speed is unpredictable o High yield ratio o Can help to slot qualified applicants into higher-level or more difficult to fill positons External recruitment: Newspaper ads Online positngs Intermediaries o Hiring costs of intermediaries o Slower, lengthier recruiting process o Campus recruiting, search firms & employment agencies Print ads and Internet-Based Recruiting → CareerBuilder Internal vs External: Internal recrutiment tends to be faster Effective recruitement: Thinking of who you are trying to target Wide trawls: Big nets dragged to catch many people Wide nets: Big nets dragged to catch very valuable individuals o Search consultants → Headhunters (fee) § Most expensive Evaluating recruitment methods: Cost per hire: Total recruiting costs divided by the number of new hires Time-to-fill-rate: Length of time it takes from the time a job opening is announced until someone starts the job Diversity: Extent to which your applicants are similar or different from your current workforce !"#$%& () hirable 1223451678 &%5&"47%9 7:&(";: (713 6"#$%& () 1223451678 &%5&"47%9 7:&(";: