Week 5 - Recruitment Flashcards
What is the Recruitment Process?
- Identify job openings
- Review job specifications
- Examine the desired characteristics of recruits
- Determine recruitment methods
- Obtain a pool of recruits
- Maintain applicant interest during the selection
- Persuade chosen candidates to accept the job
what are somee Financial Benefits of a New Employee
- Increased sales - additional revenue, avoid losing prospective customers
- Expansion of Business - handling more customers to allow for expansion
- Relief for Employees - reduce employee stress from overworking
- Development and Innovation
- Opportunities - develop new revenue streams
what is the Cost of Hiring?
- Recruiting costs: advertising time spent reviewing and interviewing
- Salary: look at the average salary range for the job
- Benefits/taxes: worker’s compensation, unemployment, and medical
- Equipment/office: equipment and office space/home equipment
- Training: personnel and additional admin costs of bringing new employees in
- Onboarding: How long we pay the new hire before they are productive
Internal Recruiting advantages
Employee is familiar with the org
Employees are “known” -performance
Improves employee morale / motive
Weakness of Internal Recruiting
Internal competition
No “new blood” less creativity
Poor morale of those not promoted
Advantage of External Recruiting
Able to acquire skills that aren’t in the org
Newer ideas
Weakness of External Recruiting
Newcomers may not fit
They have to learn the org
More expensive
Lower morale of current employees
Examples from class
Cirque De Soliel, 911 Operators, Iron Mountain, RCMP (recruitment)
check slides
Example from class
Zappos CEO (bad hires)
His own bad hires have cost the company $100M
National Business Research Institute Study
37% negatively affected employee morale
18% negatively affected client relationships
10% caused a decrease in sales
