Recruitment & Selection Notes
Chapter 1 – Introduction to R&S
Importance of R&S: * Productivity: Reduces employee turnover and increases productivity * Competitiveness: Hiring the right people gives the company an edge in the market by higher productivity and in-turn increased profits. * Responsible for up to 15% of a firm’s relative profit * Help to establish employee trust * Legal and public exposure is another key element in this aspect and it is important to conduct the best practices in this regard which are valid, reliable and legally defensible.
Costs associated with wrong selection of candidates ($25K - $50K) * Wage/ Pay * Training * Productivity/ Opportunity Cost * Management/ Administration Cost * Termination Costs * Recruitment Costs * Errors at work * Reduction in employee Morale
We are embedded with a huge responsibility of selecting the right person due to the costs attached to selecting a wrong candidate. From HR point of view, we want to help the organization make the right decision with hiring people and avoid the companies make the below errors:
False Positive: when we hire someone after completion of the recruitment process but they don’t prove out to be as predicted.
False Negative: we crossed out a candidate, which would have been very good or proved out to be very good may be at the competition. (Opportunity Cost, recruitment cost, Discriminatory conditions by putting down certain requirements).
Important Definitions * Recruiting - getting qualified candidates to apply (is getting the people who are interested in the job, getting them to apply) It is the generation of an applicant pool for a position or job in order to provide the required number of candidates for a subsequent selection or promotion program. Recruitment is done to achieve management goals and objectives for the organization and must also meet current legal requirements.
* Selection - choosing among qualified candidates. It is the choice of
Importance of R&S: * Productivity: Reduces employee turnover and increases productivity * Competitiveness: Hiring the right people gives the company an edge in the market by higher productivity and in-turn increased profits. * Responsible for up to 15% of a firm’s relative profit * Help to establish employee trust * Legal and public exposure is another key element in this aspect and it is important to conduct the best practices in this regard which are valid, reliable and legally defensible.
Costs associated with wrong selection of candidates ($25K - $50K) * Wage/ Pay * Training * Productivity/ Opportunity Cost * Management/ Administration Cost * Termination Costs * Recruitment Costs * Errors at work * Reduction in employee Morale
We are embedded with a huge responsibility of selecting the right person due to the costs attached to selecting a wrong candidate. From HR point of view, we want to help the organization make the right decision with hiring people and avoid the companies make the below errors:
False Positive: when we hire someone after completion of the recruitment process but they don’t prove out to be as predicted.
False Negative: we crossed out a candidate, which would have been very good or proved out to be very good may be at the competition. (Opportunity Cost, recruitment cost, Discriminatory conditions by putting down certain requirements).
Important Definitions * Recruiting - getting qualified candidates to apply (is getting the people who are interested in the job, getting them to apply) It is the generation of an applicant pool for a position or job in order to provide the required number of candidates for a subsequent selection or promotion program. Recruitment is done to achieve management goals and objectives for the organization and must also meet current legal requirements.
* Selection - choosing among qualified candidates. It is the choice of