In: Accounting
Imagine that you work for a giant multinational company who need to recruit young graduates and would conduct a campus drive. What planning and controlling activities will you carry out for this?
Answer-:
Recruitment refers to the process of identifying and attracting job seekers so as build a pool of qualified job applicants. The process comprises five related stages, viz (a) planning, (b) strategy development, (c) searching, (d) screening, (e) evaluation and control.
The ideal recruitment program is the one that attracts a relatively larger number of qualified applicants who will survive the screening process and accept positions with the organization, when offered. Recruitment programs can miss the ideal in many ways: by failing to attract an adequate applicant pool, by under/over selling the firm, or by inadequately screening applicants before they enter the selection process.
The first stage in the recruitment process is planning. Planning involves the translation of likely job vacancies and information about the nature of these jobs into a set of objectives or targets that specify (a) number, and (b) type of applicants to be contacted.
Number of Contacts: Organizations, nearly always, plan to attract most applicants than they will hire. Some of those contacted will be uninterested, unqualified, or both. Each time a recruitment program is contemplated, one task is to estimate the number of applicants necessary to fill all vacancies with qualified people.
Companies calculate yield ratios (yRs) which express the relationship of applicant inputs to outputs at various decision points. For example, assume that an organization attempting to recruit sales people ran a series of newspaper advertisements.The advertisement generated resumes from 2000 applicants, of which 200 were judged to be potentially qualified (yR = 10:1). Of these 200, 40 attended the interview for final selection (yR = 5:1). Of these 40, 30 were actually qualified and offered jobs (yR=4:3); and of the 30, 20 accepted (yR = 3:2). In this case, the overall yR is 100: I . Thus, a requirement of 30 hires, during a specified period, would mean a recruitment target of 3000.
Type of Contacts: This refers to the type of people to be informed about job openings. The type of people depends on the tasks and responsibilities involved and the qualifications and experience expected. These details are available through job description and job specification.
Evaluation and control is necessary as considerable costs are incurred in the recruitment process. The costs generally incurred are:
1. Salaries for recruiters.
2. Management and professional time spent on preparing job description, job specifications, advertisements, agency liaison, and so forth.
3. Cost of advertisements or other recruitment methods, that is, agency fees.
4. Cost of producing supporting literature.
5. Recruitment overheads and administrative expenses.
6. Costs of overtime and outsourcing while the vacancies remain unfilled.
7. Cost of recruiting suitable candidates for the selection process.
Questions should always be asked as to whether the recruitment methods used are valid and whether the recruitment process itself is effective.
Statistical information on the cost of advertisements, time taken for the process, and the suitability of the candidates for consideration in the selection process should be gathered and evaluated. However, exercises seem to be seldom carried out in practice.
The evaluation of recruitment methods might include:
1. Number of initial enquiries received which resulted in completed application forms.
2. Number of candidates at various stages of the recruitment and selection process, especially those shortlisted.
3. Number of candidates recruited.
4. Number of candidates retained in the organization after six months.
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