Talent Acquisition - Sourcing & Recruiting

Question 1

Sourcing

Answer 1

Precursor to actual recruitment. Generate a pool of qualified applicants, identifying individuals (active and passive) who may be potential employment suspects.

Involves internal and external advertising

Question 2

Recuritment

Answer 2

Encourages candidates to apply for job openings

Question 3

Internal recruiting methods

Answer 3

• Employee referrals
• Inside moonlighting - worker takes on second job in an organization
• Job bidding - Allow employee to indicate interest before job becomes available
• Job posting - Allow employees to respond to internal promotional opportunities
• Nominations
• Skill banks
• Succession planning

Question 4

Geofencing

Answer 4

Advertising partnership providing advertising in a certain area targeted to people who meet a certain criterion.

Question 5

Passive job appliants

Answer 5

Individuals who are currently employed and not actively looking for a new job, but who may be open to a good career opportunity if one came along.

Question 6

Measures for recruiting effectivness

Answer 6

• Workforce reporting
  
  • Head count - # of people on organizations payroll at a given time
  • Full Time Equivalency
  • Groups & Subgroups
  • Demographics
• Cost of hire / cost per hire
• Recruitment cost
• Yield ratios
• Day’s to fill
• Attrition
  *

Question 7

Headcount

aka

Full-time equivalency (FTE)

Answer 7

Average head-count represents number of employees required to run organizational operations over the course of a year

Foundational metric used to build out other HR metrics

Question 8

Workforce reporting metrics

Answer 8

1. Headcount
2. Representation of groups and subgroups
   
   • Employees into various categories (executives, managers, staff, trainees, contractors)
3. Demographics
   
   • Age, occupation, income, etc

Question 9

Cost of hire

Answer 9

Total costs / # of new hires

Total costs - all costs associated with hiring

Question 10

Cost per hire

Answer 10

(External costs) + (Internal costs)

______________________________

Total number of hires in a time period

External costs - spending outside the organization (i.e. advertising cost, job fair, travel cost)

Internal costs - i.e. salary or recruiting team, physical infrastructure, ect.

Question 11

Recruitment cost ratio

(RCR)

Answer 11

External costs + internal costs

____________________________________________________ X 100

Total first-year compensation of hires in a time period

Question 12

Days to fill

Answer 12

Emphasis on speed may increase recruitment costs and decrease quality.

Question 13

Attrition

Answer 13

Loss of an employee due to reasons other than firing.

The reason why employees leave their current positions - not just the fact that they leave

Question 14

Workforce analytics

Answer 14

Software products or tools that help an organization draw conclusions from its HR data quickly and efficiently

Example: Predictive analytics

Question 15

Predictive analytics

Answer 15

Analytics that give leaders in the organisation the insight to be able to make evidence based decisions from previous data. The process of analysing existing data can enable business leaders to learn from previous experiences and forecast future outcomes.