RECRUITMENT AND SELECTION (4) Flashcards
process of deciding which positions in the firm to be fill and how to fill them.
WORKFORCE PLANNING
goal is to identify and eliminate gaps between employer’s workforce needs and the current employees who might be suitable for filling those needs.
WORKFORCE PLANNING
this is the first step before recruiting and hiring employees
WORKFORCE PLANNING
helps understand how projected business changes may influence client’s
headcount and skills requirements
in other words, for the company to know how many vacant positions there are
and what skills are required to fill them
review the client’s business plan and workforce data
(Workforce Planning Methodology)
helps understand what new future positions will be filled
also helps to identify what current employees might be promotable
forecast and identify what positions are to be filled
(Workforce planning methodology)
*prioritize key workforce gaps
-what positions to fill
-who does the company currently have that can fill them
*identify specific plans for filling any gaps
-recruitment (for external hires)
-training (for promotion)
develop a workforce strategic plan
(Workforce planning methodology)
implement the plans and use various metrics to monitor the process
Workforce planning methodology
process of filling up executive jobs
SUCCESSION PLANNING
employment plans are built on forecasts, of which there are three sets:
-personnel needs (demand for employees)
-supply of inside candidates (those who are already working in the company)
-supply of outside candidates (bringing in new people)
with these forecasts, need-supply gaps can be identified from which training and
recruitment plans can be developed to fill in anticipated gaps
Strategy and Workforce Planning
a company’s future staffing needs reflect demand for its products or services
high demand for products/services = need for more employees
Forecasting Personnel Needs (Labor Demand)
daily, weekly, and seasonal forecasts
having a look at daily, weekly, and seasonal (holidays or occassions) sales trends
Short term demand
managers could estimate long term demand by;
speaking with customers,
following industry publications, and watching economic forecasts
future predictions are not precise, but are helpful for addressing potential changes
in product demands
Long term demand
study of a firm’s employment levels over the past few years
compute the number of employees at the end of each year for the past 5 years
provides an initial rough estimate of future staffing needs
Trend Analysis
making forecasts based on historical ratio between:
-some causal factor (like sales)
-the number of employees required
assumes that things like producivity remain the same
only focuses on sales and employees. No other factors
example: suppose salesperson in a mall generates 50,000 Php. By ratio, it is
1:50,000. If the ratio is the same for all salespeople, then hiring six salespersons
will generate a sale goal of 300,000 Php (6 x 50,000)
RATIO ANALYSIS
-shows graphically how two variables are related
example: how number of hospital beds are related to number of nurses.
depending on relationship, it may forecast the need for additional nurses if
there are plans to have additional beds in the hospital.
-in a graph, if two variables are related, the points being plotted will tend to fall on a
straight line
SCATTER PLOT
-historical sales and personnel relationships assume that the firm’s existing activities and skill needs will continue as is.
*does not account for changes
-tends to reward managers for adding employees, irrespective of the company’s
needs
*it is more than just sales and personnel relationships
-tends to institutionalize existing ways of doing things, even in the face of
change
Drawbacks of Scatter Plot
determining which existing employees are qualified or trainable for projected job openings
Forecasting Supply of Inside Candidates
-used particularly for the firm’s top positions
-shows the present performance and promotability for each position’s potential
replacement
Personnel Replacement Charts
create a card for each position showing possible replacements, as well as present
performance, promotion potential, and training
Position Replacement Card
-forecasts availability of internal job candidates
-involves creating a matrixx that shows the probabilities that employees in the chain of
feeder positions for a key job (e.g. junior engineer to engineer to senior engineer, and so on) will move from position to position and therefore be available to fill the key position.
example: shows how a junior engineer’s probability to be promoted to engineer
when it becomes vacant
Markov Analysis
-done usually if there won’t be enough skilled inside candidates to fill anticipated openings
-this can be done by looking at the locale or industry’s unemployment rates
Forecasting the Supply of Outside Candidates
which means trying to see whether finding suitable candidates from outside the company would be easier or if there is a supply of outside candidates
FORECASTING WORKFORCE AVAILABILITY
(Forecasting the Supply of Outside Candidates)
continuous planning of how projected employee shortfalls can be filled with the current recruitment or employee retention plans.
Predictive Workforce Planning
-workforce planning should culminate in a workforce plan
plan should identify the ff:
-positions to be filled
-potential internal and external candidates or sources
-training and promotions that filling the jobs would entail
-resources that are required to implement the plans;
*recruiter fees
*training costs
*interview expenses
Matching Projected Labor Supply and Demand with a Plan