Download - intro to recruitment & selection
AGENDA OF THE WEEK
• Discuss Course Outlines
• Any Improvements / Amendments in the Course or Evaluation Criteria
• Introduction to Recruitment and Selection
HUMAN RESOURCE MANAGEMENT
• Human Resource Management
• Recruitment and Selection
• Compensation
• Training and Development
• Performance Appraisals
• Retention
• Downsizing / Firing
RECRUITMENT AND SELECTION: WHAT IS IT?
• Recruitment can be defined as searching for and obtaining a pool of potential candidates with the desired knowledge, skills and experience to allow an organisation to….
• Select the most appropriate people to fill job vacancies against defined position descriptions and specifications.
R & S MODEL
R & S Model
Intro, Needs & Costs
Job Analysis
Advertisement and Shortlisting
Resume, CV, Cover Letter
Personality and Subject Based Tests
Work Sampling and Assessment Centers
Interviews
Other ways of recruitment
Orientation
Hire the wrong person for the job: Experience high turnover (PTCL)
• Hire the wrong person for the job: Experience unethical practices: Kweku Adoboli, £1.4 billion, Swiss bank UBS’ Global Synthetic Equities Trading team in London
Waste time with useless interviews (Gvt Dep in Open Houses)
Have your firm in court because of discriminatory actions (British airways case)
Have some employees think their salaries are unfair and inequitable relative to others in the organization (women vs. men salaries)
R & S RIGHT PRACTICES, WHAT DIFFERENCE IT MAKE?
MICROSOFT
• Total Market Value
• $412 Billion
• Total Value of all Physical Assets (buildings, equipment, and furniture)
• $24 Billion
• Where is the extra $388 Billion coming from?
• Intangible Assets
• Brand Names
• Intellectual Capital
• Patents
• Human Resource
A LOOK AT PAKISTAN LABOR MARKET
• 2013 Statistics according to Pakistan Bureau of Statistics
• Labour force participation rate• 53.1% Both
• 81.1% Male
• 24.1% Female
THE PROBLEMS/CHALLENGES OF R AND S
• Getting the JOB Requirements right
• Getting the right person
• Attracting the best talent – always
• Saving Costs
• Avoid Turnover
• Avoiding Legal Issues
THE CHALLENGES OF R & S IN PAKISTAN
•Equal Opportunity
•Location Based Problems (War, Terrorism, Culture)
•Globalization
•Changing work and changing workforce
1. App Developer
2. Data Miners
3. Admission Consultants
4. Generational Expert (Age Gaps)
5. Chief Listening Officer (Twitter , Facebook, Youtube)
http://www.forbes.com/sites/meghancasserly/2012/05/11/10-jobs-that-didnt-exist-10-years-ago/3/
5 JOBS THAT DID NOT EXIST 10 YEARS AGO
PAKISTAN SERVICES SECTOR
• Increased from 39 percent of GDP in 1960-61 to 53.3 percent of GDP in 2009-10
• Largest contributor in the GDP of Pakistan
• Transport
• Storage
• Communications
• Wholesale, Retail Trade and Hotels and Restaurants
• Financial Institution
• Entertainment and Recreation
WORKFORCE AND DEMOGRAPHIC TRENDS
Demographic Trends
Generation “Y”
Retirees
Nontraditional Workers
Trends Affecting
Human Resources
• Baby boomers , born between 1946 and 1964
• Generation X, born 1965 to 1977
• Gen Y , born 1978 to 1994
WHAT DOES THE WORKFORCE LOOK LIKE TODAY?
TOP 10 COUNTRIES BY LABOR FORCE
• Half the population below 20 years
• 60 percent below 30 years
• Workforce growing at a faster rate than total population
• Youth literacy is about 70%
Source: http://www.defence.pk/forums/economy-development/137335-pakistans-opportunity-reap-demographic-dividend.html#ixzz2KCd8abFC
• The Finances Matter… Specially after Financial Crunch
• Human resource accounting
• Measuring an quantifying the qualitative data of Human Resource of your organization
THE COSTS OF R & S
• Can you Value an Employee – Put a Figure against it? HOW?
• Expenses• Recruitment Cost
• Salary
• Benefits
• Training + Expense during stay in office
• Value• Productivity
• What is it?
• Employees from other industries information technology employees, accountants, graphic artists, human resources personnel and other knowledge workers, the calculation is more difficult because the productivity of these employees cannot be given a specific, accurate number. Arbitrary productivity values must be assigned to each such employee.
THE COSTS OF R & S
THE COSTS OF R & S
• Replacements Costs
• Measures only the cost of replacing the employee.
• Replacement Costs Include• Recruitment
• Selection
• Compensation
• Training cost (income forgone during the training period)
• Measuring HR Performance• Metrics
• A set of quantitative performance measures that HR managers use to assess their operations
• E.g. of HR Metrics
• Absence Rate[(Number of days absent in month) ÷(number of employees during mo.) ×(number of workdays)] × 100
THE COSTS OF R & S
• Metrics
• Cost per Hire
(Advertising + Agency Fees + Employee Referrals + Travel cost of applicants and staff + Relocation costs + Recruiter pay and benefits) ÷Number of Hires
THE COSTS OF R & S
• Metrics
• Turnover Rate
Number of separations during the month / average number of employees during month * 100
THE COSTS OF R & S
Health Care Costs per Employee Total cost of health care ÷ Total Employees
HR Expense Factor
HR expense ÷ Total operating expense
Sources: Robert Grossman, “Measuring Up,” HR Magazine, January 2000, pp. 29–35; Peter V. Le Blanc, Paul Mulvey, and Jude T.
Rich, “Improving the Return on Human Capital: New Metrics,” Compensation and Benefits Review, January/February 2000, pp. 13–
20;Thomas E. Murphy and Sourushe Zandvakili, “Data and Metrics-Driven Approach to Human Resource Practices: Using Customers,
Employees, and Financial Metrics,” Human Resource Management 39, no. 1 (Spring 2000), pp. 93–105; [HR Planning, Commerce
Clearing House Incorporated, July 17, 1996;] SHRM/EMA 2000 Cost Per Hire and Staffing Metrics Survey; www.shrm.org.
THE COSTS OF R & S