Nature of Human Resource Management: Hiring and Recruiting

EXECUTIVE SUMMARY

INTRODUCTION
In the present time, Organization’s most important assets are its people i.e. Employees. These employees are the foundation on which the organization stands strong; without the human power to perform certain tasks, to produce, to operate, to analyze, etc no organization can live. Although the modern technologies have made a lot things much easier but nothing can replace the significance of the Human Resources. Therefore, Hiring is a very challenging, time consuming and costly function of the company. But what’s even harder – especially in today’s chaotic economic situation is, “Making the right Hire”.
Recruiting and Selection is all about “hiring the right person for the right job at the right time.” Even a single wrong hire can affect the operations of the business and can cost the firm a fortune. In order to avoid making a bad hire, HR managers must carefully conduct and analyze the Human Resource Planning (HRP) process. HRP is a process used by the organizations to ensure that it has right amount and kind of people to fulfill its particular goals in future. This is done by forecasting the Labor Demand for future and matching it with the forecasted Labor Supply of the firm. Organizations that do not conduct HRP or don not perform HRP properly may not be able to meet their future labor shortage or may have to resort to layoffs due to labor surplus.
Even though hiring the right people with right skills is very protracted and difficult process but Human capital is a substantial investment and even a single mistake can put financial burden on the firm. The pace at which a business moves from survival mode to growth paths is largely dependent on the successful hiring of the correct employees. The prosperity of the business not only depends on hiring good people but hiring extremely talented people with the right skills for any particular job. Following are some useful tips for hiring right people for the right job: * Develop a

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