Unit 3-4: Understanding Recruitment Operations Flashcards
What contribution do recruiters have to the economy?
3-4-1: Understanding Recruitment Operations
The recruitment industry meets industry needs by implementing the right people into the right businesses at the right times.
What contribution do recruiters have to the economy?
3-4-1: Understanding Recruitment Operations
The recruitment industry meets industry needs by implementing the right people into the right businesses at the right times.
Name the 6 stages of the Recruitment Process
3-4-1: Understanding Recruitment Operations
- Human resource planning;
- Defining the need;
- Attractng candidates;
- Pre-selection;
- Assessing candidates;
- The selection decision.
Name the 6 stages of the Recruitment Process
3-4-1: Understanding Recruitment Operations
- Human resource planning;
- Defining the need;
- Attractng candidates;
- Pre-selection;
- Assessing candidates;
- The selection decision.
What does AIDA stand for?
3-4-1: Understanding Recruitment Operations
- Attention
- Interest
- Desire
- Action
When considering a candidates motivations, what does the acronym CLAMPS stand for?
3-4-1: Understanding Recruitment Operations
- Challenge
- Location
- Advancement
- Money
- Prestige
- Security
What assessment methods can be selected to assess candidates?
3-4-1: Understanding Recruitment Operations
- Biographical; interviews
- Case studies;
- Skill tests;
- Personality and ability questionnaires.
What is meant by career routeway?
3-4-1: Understanding Recruitment Operations
Outlines possible paths for career advancement
Names some sources of information and advice on industry, occupation, training and career routes?
3-4-1: Understanding Recruitment Operations
- REC;
- Department for Business, Energy, and Industrial Strategy;
- Chartered Institute of Personnel and Development;
- National Careers Service.
Name some representative bodies in the recruitment industry:
3-4-1: Understanding Recruitment Operations
- Recruitent & Employment Confederation (REC);
- Chartered Institute of Personnel and Development (CIPD);
- Institute of Recruiters (IOR);
- Association of Professional Staffing Companies (APSCo)
Explain the acronym PESTLE:
3-4-1: Understanding Recruitment Operations
- Political
- Economic
- Sociaological
- Technological
- Legislative
- Environmental
Define a goal:
3-4-2: Understanding Recruitment Operations
“a specific, observable and measurable outcome which needs to be completed within an agreed timeframe”
Define a Corporate Level goal:
3-4-2: Understanding Recruitment Operations
- Concerned with the organisation as a whole;
- ROI;
- Operating profit
Define a Functional Level goal:
3-4-2: Understanding Recruitment Operations
- Concerned with the how individuals are expected to perform;
- Candidates spoken to;
- CVs sent.
What does the acronym SMART stand for?
3-4-2: Understanding Recruitment Operations
- Specific;
- Measurable;
- Achievable;
- Realistic;
- Time-bound.
Name three characteristics of KPIs:
3-4-2: Understanding Recruitment Operations
- Outcome Related: tied to a specific objective;
- Target Based: time sensitive;
- Rated or Graded: between target and actual.
Provide some examples of KPIs:
3-4-2: Understanding Recruitment Operations
- Calls made;
- Placements filled;
- Sales revenue generated.
Provide some examples of KPIs that would inform a business of the quality of their candidates:
3-4-2: Understanding Recruitment Operations
- Length of time of placement;
- Drop outs within a refund period.
What does the acronym SWOT stand for?
3-4-2: Understanding Recruitment Operations
- Strengths
- Weaknesses
- Opportunities
- Threats
Why should regular checkpoints be incorporated into SWOT analysis?
3-4-2: Understanding Recruitment Operations
- As a measure of progress towards a goal.
Define business accumen:
3-4-2: Understanding Recruitment Operations
An intuitive and applicable understandiong of how a commercial organisation works.
Name two key areas that were identified as influencing the success of a recruitment consultant in the book “7 Secrets of Successful Recruiters”?
3-4-2: Understanding Recruitment Operations
- Clearly defined goals;
- Attitude
Name some of the qualities of attitude that were named in the book “7 Secrets of Successful Recruiters”:
3-4-2: Understanding Recruitment Operations
- Seeing it through;
- Doing the deal;
- Keeping on track;
- Nothing but the best;
- Empathy;
- Instinct for business;
- Staying ahead.
What is an agency worker?
3-5-3: Understanding Recruitment Operations
- Works for the end-hirer through an EB.
- Ususally via a contract for services.
Names some adv and disadv of being an agency worker:
3-5-3: Understanding Recruitment Operations
- Adv: May attract higher pay than a permanent worker
- Adv: Simple payroll model
- Disadv: No work, no pay.
- Disadv: Unable to claim tax relief on expenses
What is a Contractor?
3-5-3: Understanding Recruitment Operations
- Works for an end-hirer;
- Usually through an Umbrella Company or a Limited Co;
- Can also be a sole trader.
Names some adv and disadv of being an Limited Co Contractor:
3-5-3: Understanding Recruitment Operations
- Adv: May attract higher pay than a permanent worker;
- Adv: Certain tax benefits.
- Disadv: Administrative costs;
- Disadv: No eligible for stat payments.
Names some adv and disadv of working under an Umbrella Company:
3-5-3: Understanding Recruitment Operations
- Adv: Ease of administration;
- Adv: Simple payroll model.
- Disadv: Administration costs are higher than Ltd Co;
- Disadv: Reduced level of control.
Names some adv and disadv of being an Sole Trader:
3-5-3: Understanding Recruitment Operations
- Adv: Ease of set-up;
- Adv: Low administration costs.
- Disadv: Personal liability.
- Disadv: Unlimited liabilty.
What is a profit and loss account?
3-5-2: Understanding Recruitment Operations
A summary of an organisations profit or loss for a given time period.
What is a balance sheet?
3-5-2: Understanding Recruitment Operations
A statement of the financial position of an organisation at a given date, ususally the end of a period.
Name the ways in which profit may be expresssed in:
3-5-2: Understanding Recruitment Operations
- Gross and Net profit;
- Profit as a percentage of sales;
- Profit as a percentage of assets.
What is Gross Profit?
3-5-2: Understanding Recruitment Operations
Total Revenue less Costs of Sales
How does one calculate Net profit?
3-5-2: Understanding Recruitment Operations
Gross Profit less Operating Costs and other expenses
What is Cost of Sales?
3-5-2: Understanding Recruitment Operations
All costs that are associated with selling the service or product.
How would one calculate Gross or Net Profit Margin?
3-5-2: Understanding Recruitment Operations
Profit (Net or Gross) / Total Revenue x 100 = Margin (expressed as a %)
How would one calculate Net Assets?
3-5-2: Understanding Recruitment Operations
Total Assets less Total Liabilities
How would one calculate Return on Net Assets?
3-5-2: Understanding Recruitment Operations
Net Profit / Net Assets x 100 = Return on Net Assest (expressed as a %)
What is Gearing?
3-5-2: Understanding Recruitment Operations
A high proportion of debt to equity.
What cash flow analysis?
3-5-2: Understanding Recruitment Operations
The analysis of cash that moves in and out of the business.
Why is cash flow analysis so important?
3-5-2: Understanding Recruitment Operations
- Because costs that are incurred are often paid before funds are received from a client.
- In an EB, temp workers salaries go out before a client pays.
What is a Mark-up?
3-5-2: Understanding Recruitment Operations
A percentage added to the cost of sales
What is a Margin?
3-5-2: Understanding Recruitment Operations
Simply calculated from the selling price
