HB 307 1st Edition Lecture 6Current LectureStrategic Aspects of Recruiting - Decisions about talent – Always consider business’s strategies and motives - Factors that can affect a firms recruiting strategy o Recruiting Abilities o Whether to recruit internally vs. externally o Labor market for the types of positions it is recruiting for, including global labor markets, strength of a firm’s employment “brand” Recruiting Tasks Large Firms – HR recruiters or generalist Small Firms – Manager or Supervisor Alternatives methods – Work teams or Recruiting Process Outsourcing (RPO) Global Labor Markets - Reasons to recruit globally o Develop better products o Attract best talent possible - Global Recruiting Issueso Local, national, international laws o Different labor costs o Different pre-employment and compensation practices o Cultural Differenceso Security o Visas and Work Permits Labor Markets- Defined as an area from which applicants are to be recruited o Tight market – High Employment, few available workerso Loose market – Low employment, many available workers- Factors determining labor market o Skills and knowledge required o Level of compensation offered These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.o Reluctance of job seekers to relocate o Ease of commuting to workplace o Location of job (urban or non-urban) Internal Recruiting Methods - Internal job postings, Identifying talent through performance appraisals, Skills inventories and replacement charts Weak Talent “Bench” signs 1. Takes long time to fill key positions 2. Key positions only filled by hiring from outside3. Vacancies cannot be filled with confidence 4. Replacements are unsuccessful 5. Promotions are made based on alterative motives (whim, favoritism, nepotism) External Recruiting Methods – Advertisements, Walk-ins and unsolicited applications and resumes, Internet, social networking, mobile, Job Fair, Employee Referrals, Re-recruiting, extImproving Recruiting - Job Previews- Surveys - Metrics Recruiting Methods- Quality of Fill Stats - Quality of Hire = (PR + HP + HR) / (N) o PR = Average job performanceo HP = % of new hires reaching acceptable productivity o HR = % of new hires retained after one yearo N = Number of indicators - Time to Fill – refers to # of days from when a job opening is approved to the date a person ultimately chosen for the job is selected - Yield Ratios - % of applicants that make it to the next stage selection process Costs of Recruitment (per employee hired) - (SC / H) = (AC + AF + RB + NC) / (H) - SC = Source Cost - AC = Advertising Costs, total monthly expenditure - AF = Agency Fees (total) - RB = Referral Bonuses- NC = No-cost hires, walk-ins, nonprofit agencies, ext- H = Total HiresRecognize Different Career Paths - Promotion – change of assignment to a job at a higher level - Transfer – Placement of an individual in another job for which duties, responsibilities, status, remuneration are equal to the previous job - Consider dual career paths for employees- Consider the boundary-less career- Help Employees Progress beyond career plateaus Career-Management Practices- Placing Clear Expectations on employees- Giving employees the opportunity to 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 - Encourage employees to continually assess their skills and career direction Unsuccessful Career-management - 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, and a short-term focus- Lack of career opportunities and pathways within the organization for employeesMentoring Functions- Good mentors – listen and understand, challenge, coach, build confidence, provide counsel, teach by example, Act as role model, share experiences, offer encouragement- Good Partners (or protégés) – Listen, act on advice, show commitment to learn, check ago at the door, ask for feedback, open-minded, willing to change, proactive Developing diverse talent pool - Recruiting and developing women - Elimination women’s barriers to advancement - Recruiting and Developing Minorities- Providing minority internships - Advancing minorities to