lesson 3

• The first step in the planning process is forecasting
• The attempts to determine the supply of and demand for various types of human resources to predict areas within the organization where there will be future labor shortages or surpluses. FORECASTING
• A leading indicator is an objective measure that accurately predicts future labor demand. Under the labor demand
• Transitional Matrices, Matrix showing the proportion (or number) of employees in different job categories at different times. Under the labor supply
• The second step in human resource planning is goal setting and strategic planning,
• downsizing has been a popular method for reducing a labor surplus
• hiring temporary workers and outsourcing has been the most widespread means of eliminating a labor shortage.
• popular means of reducing a labor surplus

  
  

  Downsizing

  Early Retirement and Buyoffs
• eliminating a labor shortage.

  Hiring temporary worker

  Altering pay and hours
• Outsourcing - An organization‘s use of an outside organization for a broad set of services.
• Offshoring - A special case of outsourcing where the jobs that move actually leave one country and go to another.
• The final step in the planning process is to evaluate the results.
• Human Resource Recruitment, The practice or activity carried on by the organization with the primary purpose of identifying and attracting potential employees.
• Personnel policies is a generic term we use to refer to organizational decisions that affect the nature of the vacancies for which people are recruited.
• Employment-at-will policies, Policies which state that either an employer or an employee can terminate the employment relationship at any time, regardless of cause.
• Due process policies, Policies by which a company formally lays out the steps an employee can take to appeal a termination decision.
• lead-the-market - higher-than-current-market wages—have a distinct advantage in recruiting.
• 3 Personnel Policies

  External and Internal Recruitment: Job Security

  Extrinsic and Intrinsic rewards

  Image advertising
• Direct Applicants are people who apply for a job vacancy without prompting from the organization.
• Referrals are people who are prompted to apply for a job by someone within the organization.
• Advertisements in Newspapers and Periodicals - Advertisements to recruit personnel are ubiquitous
• Electronic Recruiting - One of the easiest ways to get into ―e-cruiting‖
• Public employment agencies serve primarily the blue-collar labor market; private employment agencies perform much the same service for the white-collar labor market.
• 7 Recruitment Sources

  Internal and External Sources

  Direct Applicant and Referrals

  Advertisements in Newspaper and Periodicals

  Electronic Recruiting

  Public and Private Employment Agencies

  Colleges and Universities

  Evaluating the Quality of Service
• Recruiter’s Functional Area. Most organizations must choose whether their recruiters are specialists in human resources or experts at particular jobs (supervisors or job incumbents).
• Recruiter’s Traits. Two traits stand out when applicants‘ reactions to recruiters are examined. warmth & informativeness
• Recruiter’s Realism. The recruiter‘s job is to attract candidates, there is some pressure to exaggerate the positive features of the vacancy while downplaying the negative features
• Recruiting metrics are measurements used to track hiring success and optimize the process of hiring candidates for an organization.
• 3 Recruiters

  
  

  Recruiter’s Functional Area

  Recruiter’s Traits

  Recruiter’s Realism
• 1. Time to fill - This refers to the time it takes to find and hire a new candidate, often measured by the number of days between publishing a job opening and hiring the candidate. Time to fill is influenced by supply and demand ratios for specific jobs as well as the speed at which the recruitment department operates.
• Time to hire represents the number of days between the moment a candidate is approached and the moment the candidate accepts the job. In other words, it measures the time it takes for someone to move through the hiring process once they‘ve applied. Time to hire thus provides a solid indication of how the recruitment team is performing. This metric is also called ‗Time to Accept‘
• 3. Source of hire - Tracking the sources which attract new hires to your organization is one of the most popular recruiting metrics. This metric also helps to keep track of the effectiveness of different recruiting channels. A few examples are job boards, the company‘s career page, social media, and sourcing agencies.
• First-year attrition is a key recruiting metric and also indicates hiring success. Candidates who leave in their first year of work fail to become fully productive and usually cost a lot of money. First-year attrition can be managed and unmanaged.
• Quality of hire - often measured by someone‘s performance rating, gives an indicator of first-year performance of a candidate. Candidates who receive high-performance ratings are indicative of hiring success while the opposite holds true for candidates with low-performance ratings.
• Quality of hire is the input for the Success Ratio.
• formula of

  sucess ratio = Number of hired candidates considered satisfactory/Total number of candidates hired
• hiring manager satisfaction is another recruiting metric that is indicative of successful recruiting metrics.
• Candidate job satisfaction is an excellent way to track whether the expectations set during the recruiting procedure match reality.A low score can be better managed by providing a realistic job preview
• The success ratio is used as input for recruitment utility analysis. This analysis enables you to calculate an ROI for different selection instruments
• Applicants per opening - Applicants per job opening or applicants per hire gauges the job‘s popularity. A large number of applicants could indicate a high demand for jobs in that particular area or a job description that‘s too broad.