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Analysis of recruitment methods
Explain the strengths and weaknesses of different approaches to recruitment and selection
Strengths and weaknesses of different approaches to recruitment and selection
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1. Fort Lauderdale received 150 applicants from the corporate website, 300 applicants from job boards, 115 applicants from the newspaper, 31 applicants from Walk-ins, and 37 applicants from a public employment agency. The yield ratio for potentially qualified applicants from the corporate website is 8%. The yield ratio for potentially qualified applicants from job boards is 7%. The yield ratio for potentially qualified applicants from the newspaper is 67%. The yield ratio for potentially qualified applicants from walk-ins is 64%. The yield ratio for potentially qualified applicants from a public employment agency is 51%. The yield ratio for interviews from the corporate website is 75%. The yield ratio for interviews from job boards are 55%. The yield ratio for interviews from the newspapers is 82%. …show more content…
This would help the HR recruiter determine if the source is effective. The yield ratio can also determine if the source is worth investing money into to seek out desirable applicants. The yield ratio on a particular recruitment source can determine how much time and effort needs to be place on this source when looking for new hires. The yield ratio can determine if the source outputs the amount of skilled laborers the company is looking for. For example, the amount of applicants the company received from a public employment agency was the second to the lowest. However, the yield ratio for the applicants being qualified, getting interviews, accepting the job, and surviving the job over 6 months was high. This shows the recruiter that even though the job agency doesn’t produce quantity as high as some of the other recruitment sources, it makes up for it in the quality of applicants it puts out. Public job agencies usually tries to help train applicants to both learn a set skill or several skills that will help them obtain and maintain a job, therefore, making them more viable
When employers seek new employees, they have a variety of external recruiting methods available from which to choose. The method chosen may depend on such factors as budget, desired applicant characteristics, and type of access to potential employees in the labor market. Recruiting decisions should also consider each method’s potential for adverse impact against certain groups of employees. Adverse impact in employee recruitment or selection occurs when a hiring practice intentionally or unintentionally discriminates against a protected group (CSU-Global, 2013). To decrease the likelihood of adverse impact, employers should proactively engage in recruiting activities designed to reach a broad range of potential job applicants.
Companies have the never-ending task of interviewing, choosing and hiring employees. However, regardless of the repetitiveness and skill of a company's human resources department, choosing the right individual for a job is immensely challenging. Making the wrong decision can also be pricely (Small business, 2011). The employee selection process usually involves notification or advertising, analysing, screening, interviewing, testing then selecting the best applicable candidate. The employee selection process generally begins with a manager or boss commissioning human resources to fill a new or unfilled position. The manager must first decide what qualifications she desires in a job candidate. Review resumes and match each candidate's background to the job demands (Siop, 2012). Companies sometimes get hundreds of CVs for an ad. However, human resources may only examine a half dozen. During dreadful economic stages, a number of candidates may have an education and experience that exceed the qualifications for the job. The employment selection process may actually include a screening interview, notably if a job candidate lives out of town. Human resources will usually perform the screening interview over the telephone. A telephone interview also helps a company determine if the candidate has the necessary qualifications to warrant flying him in for an interview. The employee selection case can also
Any successful business owner or investor is constantly evaluating the performance of the companies they are involved with, comparing historical figures with its industry competitors, and even with successful businesses from other industries. To complete a thorough examination of any company's effectiveness, however, more needs to be looked at than the easily attainable numbers like sales, profits, and total assets. Luckily, there are many well-tested ratios out there that make the task a bit less daunting. Financial ratio analysis helps identify and quantify a company's strengths and weaknesses, evaluate its financial position, and shows potential risks. As with any other form of analysis, financial ratios aren't definitive and their results shouldn't be viewed as the only possibilities. However, when used in conjuncture with various other business evaluation processes, financial ratios are invaluable. By examining Ford Motor Company's financial ratios, along with a few other company factors, this report will give a clear picture of how the company is doing now and should do in the future.
Before beginning an analysis of a company it is necessary to have a complete set of financial statements, preferably for the pas few years so that historical trends can be obtained. Ratios are a way for anyone to get an idea of the financial performance of a company by using the information contained in the financial statements. Ratios are grouped into four basic categories, liquidity, activity, profitability, and financial leverage. This document will use a variety of these ratios to analyze the firm, Sample Company, as of December 31,2000.
Upon examining P&G’s financial ability to meet short-term obligations, it is apparent that not only have their current liabilities exceeded current assets over the last three years, but close to half of their current assets have been tied up in inventories and other illiquid assets. For example, assessing both the quick and current ratio respectively shows that less than 70% of the firm’s current assets could be converted immediately to pay current commitments, but a little more than 90% of the firm’s liabilities would ultimately be covered. Though, based on industry average similar findings occur; therefore, it must not be uncommon for industries similar to P&G to
Geometry is used in everything in the world around us, it is even in places that you would not think possible or is used in ways that you would not think necessary or practical. The golden ratio,1:1.61, is a ratio that is used to build, design, structure, and even decorate houses. Most houses that follow the golden ratio, 1:1.61, to the exact all look almost the exact same, even though they may vary slightly. The golden ratio appears in everything in nature, from the shape and structure of clouds, the shape and structure of our universe that we live in, to the proportions of the human anatomy and body. No matter what the eventual purpose of the structure whether it is man made building or objects, or another wonderful creation of mother nature like flamingos or clouds, there is a good chance that it follows or was created by using the golden ratio.
One of the most significant and valuable aspects of human resource management is its control of the recruitment and selection of candidates. Human resources is at the forefront of determining what kind of candidates an organization wishes to add to its workforce, hence they are impacting organizational performance before people even step through the door. Therefore, it is observed that by developing recruitment strategies human resource managers seek to attract the finest possible pool of applicants, encompassing the best most talented individuals as a result of a carefully selected recruitment strategy, the more thorough and complex the recruitment process the higher quality the
Recruitment and selection is one of the human resource management and plays a crucially important role in any forms of organisations effectiveness and performance. Furthermore, recruitment is a strategy meth...
Some recruiting processes result in pools that are big but the candidates are not certified. Bigger pools increase prices of verification and communication. It also extends the period required to fill empty places due to the extra period needed to sort during the big pool of applicants. The consequence is the fact that supervisors should assess recruiting techniques that are different to discover those perform best for the company. These procedures needs to be assessed when it comes to the quality of candidates as well as the quantity of applicants
The advantages for this recruitment method are the company can bring new workers with new ideas for improvements and problems, and the company may have a dynamic workforce. This method has disadvantages as well. Those new comers may not fit their organization culture and they need trainings and educations. These trainings and educations will cost a great amount of money. Those internal employees who are not selected for the vacancies will have passive emotion and have bad effect on their routine tasks.
Will help the hiring personnel to evaluate the application form and look for any similarities in skills among the applicants and the job available.
Improve Recruiting Effectiveness- With a competitive International market, it’s difficult for organizations to find right candidates or improve their present recruiting effectiveness. They may not be able to achieve recruiting needs with existing staff. When they outsource recruiting, they benefit from recruiting agencies’ ability to reach more candidates, access passive aspirants and finally realize more efficient use of recruiting
The recruitment and selection process is enforced by the human resource management of that organization. The internal recruitments help the organization to recruit more efficient employees as the organization is familiar with the strengths and weaknesses of its employees. It also helps the employee to work on the development of the organization as he/she is already familiar with the strengths and weaknesses of the company. The employees are motivated to deliver high performance in their work through internal recruitments. The extra cost and time are saved on training through internal promotions. Organization can concentrate on hiring the entry-level candidates (Stone, n.d.). The organization is equally benefited through external recruitments as it brings out huge talent and fresh thinking in the work environment. It is quite economical and trouble-free task to hire candidates externally. The human resource management is responsible in hiring eligible and most efficient employees to the organization. Recruitment process is carried out by the experienced employers, who are very confident in hiring desirable candidates to the organization (Furnham & Burbeck, 1989; Keenan, 1978). The experienced persons are mostly correct at evaluating and picking up right person for the right
Certain objectives need to be achieved and established for every organisation. These objectives are achieved in the recruitment and utilization of the resources of various people in diverse fields of employment. Manpower is the most important feature of every organisation, playing an important role in performing tasks to accomplish countless goals and carry out various responsibilities giving their best to the organization. This involves the need to get highly skilled and dedicated employees who can best fit the role within each position being advertised in an organization. Employees are recruited on different skill levels, unskilled, semi-skilled and skilled. The key component in any organization is their human resources department, where they gather the knowledge, skills, creative abilities, talents and aptitudes from people wishing to be employed within a given organization.
Recruitment refers to those activities that an organization tries to attract people for applying a job in the organization. From these activities, chances will be given for people to apply jobs from there organization. An effective recruitment should have a right person in the right place at the right time; the main way to attract applicants can be listed as follows, walk-ins, employee referrals, advertising, websites, professional associations, educational associations, professional agencies, E-recruitment and world-of-mouth. Applicants can get some recruit informations form different ways; employees will provide a job description for those who are interested.