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Chapter 5 Expanding the Talent Pool: Recruitment and Careers

Learning Outcomes

Describe how a firm’s strategy affects its recruiting efforts, and outline the elements that are part of a strategic recruiting strategy

Describe the methods firms use to recruit externally and internally

List some of the ways firms can to improve their recruiting and the metrics they use to do so

Learning Outcomes

Explain how career management programs integrate the needs of individual employees and their organizations

Explain why diverse recruitment and career development activities are important to companies

Figure 5.1 - Elements of a Recruiting Strategy

Focus

Internal labor markets: Markets in which workers are hired into entry-level jobs and higher-level jobs are filled from within

Actual labor market a company faces depends on:

The industry in which the firm operates

The types of position the company is seeking to fill

Location

Primary locations to find candidates

Internal to firm

External to the firm

Regional recruiting markets

Competing firms are located in the same areas as required resources are abundant in the particular region

Global recruiting markets

Companies look globally for labor, to save costs and to attract the best talent

Timing

Recruiting plans are to be based on a firm's:

Business strategies

Company’s talent

Future needs

HR managers have to consider which jobs have the biggest impact on the firm's financial results and prioritize filling them

Figure 5.2 - Sources of External Recruitment

Decision

Size of an organization affects who performs the recruitment function

Recruiting process outsourcing (RPO)

Practice of outsourcing an organization’s recruiting function to an outside firm

Organizations use RPO providers when they:

Want to focus on their core functions

Need to hire a lot of employees or hire employees quickly

Brand

Branding: Company’s efforts to help existing and prospective workers understand why it is a desirable place work

Think of applicants as consumers and focus on what they want in terms of jobs and careers

Companies should listen to and reach out to applicants

Reaching out to people via social networks

Writing blogs and articles for industry publications

Philanthropic activities

External Recruiting Methods

Advertising

Advertising job openings on websites, social media, newspapers, and trade journals

Walk-in, unsolicited applications, and résumés

Walk-in applicants and individuals who send unsolicited résumés may or may not be good prospects for employment

Internet and social media

Companies and individuals find the Internet cheaper, faster, and more effective

Social media is used to create company websites and advertise jobs

External Recruiting Methods

Job fairs

Recruiters set up booths, meet prospective candidates, and exchange employment information

Virtual job fair: Conducted online

EmploMobile recruiting

Process of recruiting candidates via their mobile devices

Yee referrals

Recommendations about prospective candidates from current employees

External Recruiting Methods

Drawback

Nepotism: Preference for hiring relatives of current employees

Work study programs and internships

Firms offer work study programs and offer low interest loans for promising recruits, scholarships and internships

Professional associations and labor unions

Placement centers are included in the meeting of professional associations

Labor unions are principal source of applicants for blue collar and some professional jobs

External Recruiting Methods

Public and private employment agencies

Public employment agencies work with recruiters to post their openings in online job banks

Private employment agencies , for a fee, match people with full-time jobs

Staffing agencies

Firms that hire and place workers in temporary jobs

Independent contractors

Workers who are self-employed and do project work on a contract basis for different organizations

External Recruiting Methods

Employee leasing

Process of dismissing employees who are then hired by a leasing company and contracting with that company to lease back the employees

Internal Recruiting Methods

Internal job posting - Quick way to find qualified employees interested in a position

Identifying talent through performance appraisals

9-box grid: Comparative diagram that includes appraisal and assessment data to allow managers to easily see an employee’s actual and potential performance

Skills inventories and replacement charts

Firms track employee skills to see how best these skills can be used in job postings

Replacement charts are used for succession planning

Figure 5.6 - Example of a 9-Box Grid

Improving the Effectiveness of Recruiting

Using realistic job previews

Realistic job preview (RJP): Informs applicants about all aspects of the job, including both its desirable and undesirable facets

Applicants who are given realistic information regarding a position are more likely to remain on the job and be successful

Improving the Effectiveness of Recruiting

Surveys - Surveying managers about how satisfied they are with the recruitment process

To help recruit the right kinds of candidates, firms develop employee profiles

Employee profile: Profile of a worker developed by studying an organization’s top performers in order to recruit similar types of people

New hires are surveyed to check on their satisfaction level

Candidates who turned down jobs can provide valuable information about why they did not accept the firm’s offer

Improving the Effectiveness of Recruiting

Recruiting metrics

Helps understand which recruiting sources work best for different employees

Allows recruiters to find better employees faster and at a lower cost

Recruitment Metrics

Time-to-fill

Metric that refers to the number of days from when a job opening is approved to the date a person is chosen for the job

Lower time-to-fill statistics are better

Trade-off has to be made between the time to fill a position and the quality of the candidates needed for the position

Quality-of-fill

Metric that measures how well new hires have gotten up to speed are performing, and their retention levels

Recruitment Metrics

Yield ratio: Percentage of applicants from a particular source that make it to the next stage in the selection process

Helps indicate which recruitment sources are most effective at producing qualified job candidates

Used to determine how many total applicants a firm needs to attract and advance to different stages in the hiring process to fill different jobs

Recruitment Metrics

Acceptance rate: Percentage of applicants who accept a firm's jobs after being offered them

Lower acceptance rates will require a firm and its HR personnel to determine why employees are declining offers

Cost of recruitment

Applicant tracking system (ATS): Software application recruiters use to post job openings, screen résumés and up-loaded profiles, contact via e-mail potential candidates for interviews, and track the time, costs, and other metrics related to hiring people

Figure 5.7 - Steps in Career Management Process

Figure 5.8 - Blending the Needs of Individual Employees to That of Their Organizations

Figure 5.10 - Stages of Career Development

Career Development Initiatives

Career counseling

Talking to employees about their current job activities and performance

Mentoring programs

Reverse mentoring: Program whereby younger employees are called on to mentor older employees and executives about social media trends, new technology and marketplace trends

Tuition assistance programs

Large corporations offer their employees tuition assistance to help them further their careers

Career Development Initiatives

Career plateau: Situation in which for either organizational or personal reasons the probability of moving up the career ladder is low

Structural plateau - Marks the end of promotions

Content plateau - Occurs when a person has learned a job too well and is bored with day-to-day activities

Life plateau - More profound and may feel like a midlife crisis

Developing a Diverse Talent Pool

Recruiting and developing women

Eliminating women’s barriers to advancement

Accomodating families

Recruiting and developing minorities

Providing minority internships

Advancing minorities to management

Developing a Diverse Talent Pool

Recruiting the disabled

Americans with Disabilities Act, 1990

Require employers to provide reasonable accommodations to people with disabilities

Workforce Recruitment Program for College Students with Disabilities (WRP Recruiting veterans

Military bases have career centers for people in service

Recruiting older employees

Excellent recruitment source to staff part-time and full-time positions that are otherwise hard to fill