MGMT 373 Chapter 5

Leading Indicators

Objective measures that ACCURATELY predict future labor demand. Include measures of: -economy -actions of competitors -changes in technology -trends in work force and population

Contract Workers

Obtain workers for limited assignments by entering into contracts.

False

Realistic job previews should highlight the positive characteristics of the job rather than the negative.

Google

Who calls internships one of the primary ways too find full time hires?

White Collar Labor Market

Who does private employment agencies primarily serve?

Blue Collar Labor Market

Who does public employment agencies primarily serve?

Executive Search Firms "ESP"

"Head Hunters" Type of private agency service used by employer to find new jobs of people almost exclusively already employer. Serve as a buffer providing confidentially between employer and the recruit.

Electronic Recruiting

1. Job Boards: Monster, CareerBuilder -too many applicants 2. Ads on company web page -too little applicants 3. Niche Boards 4. Social Media

Transitional Matrix

A chart that lists job categories held in one period and shows the proportion of employees in each of those job categories in the future period. Extremely useful for charting historical trends in the companies supply of labor. Should take into account the organizations pool of skills.

Yield Ratios

A ratio that expresses percentage of applicants who successfully move from one stage of the recruitment and selection process to the next. Can determine which source is best or most efficient for type of vacancy.

Image Advertising

Advertising designed to create a generally favorable impression of the organization.

Self-Selection

Applicant done research and concluded there is enough fit between themselves and position to warrant submitting application, which eases the pressure of organization recruiting and selection systems. Occurs with REFERRALS

False

Applicants respond more positively when the recruiter is an HR specialist than line managers or incumbents.

True

Applicants respond positively to recruiters whom are warm and informative

Realistic Job Previews

Background information about a jobs positive and negative qualities.

Judgment

Best used when important events in labor market have no precedent. Pooling their "best guesses" is an important source of ideas about the future.

Internal Labor Supply

Calls for detailed analysis of how many people are currently in various job categories or have specific skills within the organization

Statistical Methods

Capture historic trends in a companies demand for labor. Predict demand and supply more precisely than human forecaster can using Subject Judgment. Useful when there is long, stable history that can be used to reliably detect relationships among variables

Human Resource Planning

Compares the present state of the organization with its goals for the future, then identifies what changes it must make in its human resources to meet those goals.

Workforce Utilization

Comparison of the proportion of employees protected groups with the proportion that each group represents in the relevant labor market.

Recruiting

Consist of any practice or activity carried on by the organization with the primary purpose of identifying and attracting potential employes. Creates a buffer between planning and the actual selection of new employees. Goal is to build a supply of potential new hires that the organization can draw on

Outsourcing

Contracting with another organization to perform a broad set of activities. Used as a way to operate more efficiently and save many.

Selection

Deciding which candidates would be the best fit

Personnel Policies

Decisions about how the organization will carry out human resource management, including how it will fill job vacancies. Influence the nature of the positions that are vacant.

Employment at Will Policies

Employment principles that if there is no specific employment contract saying otherwise, the employer or employees may end an employment relationship at any time regardless of cause.

Job Fair

Event where many employers gather a short time to meet large numbers of potential job applicants. Many well educated, yet unemployed candidates. Inexpensive means of generating on campus presence. Provide one on one dialogue.

Cost Per Hire

Find cost of using a particular recruitment source for a particular type of vacancy. Divide that cost by number of people hired to fill that type of vacancy. A low cost per hire means the recruitment source is efficient

Goal Setting and Strategic Planning

Goal is to focus on attention on the problem and provide a basis for measuring the organizations success in addressing labor shortages and surplus. Come directly from the analysis of labor supply and demand. Include a specific figure indicating what should happen with the job category or skill area and a specific time table for when the results should be achieved. Should retain and attract employees who provide a core competency.

Nepotism

Hiring relative. Employees may resent rapid hiring and promotion from the boss's son/daughter/friend.

Nature and Behavior

Influence both the vacancies and the applicants

Personal Policies

Influence the characteristics of the position to be filled

Recruitment Sources

Influence the kind of job applicants an organization reaches

Phased Retirement Program

Organization can continue to enjoy the experience of older worker while reducing the number of hours that these employees work, as well as costs. Gives employees economic and psychological benefits.

Core Competency

Organizations benefit from employees who "provide a set of knowledge and skills that make the organization superior to competitors and create value for customers."

Job Postings

Organizations recruit existing employees through communication information about the vacancy on the company bulletin boards, employee publications, on corporate intranets. Managers may also recommend. Also affect what kinds of people the organization recruits.

Lead the Market Pay Strategies

Pay more than the current market wages for a job. Can make up for job's less desirable features. Make jobs economically desirable. Use: -Bonus -Stock options

Referrals

People who apply because someone in the organization prompted them to do so. 1/4 of new employees hired this way. Largest share

Direct Applicants

People who apply for a vacant without prompting from the organization.

True

Personnel policies are more important than the recruiter when deciding whether or not to take a job.

Downsizing

Planned elimination of large numbers of personnel with the goal of enhancing the organizations competitiveness. Primary goal is to promote future competitiveness

Due-Process Policies

Policies that formally lay out the steps an employee may take to appeal the employers decision to terminate that employee.

Internal Recruiting 49%

Promoting from within. Finding candidates who already work for the organization. Try to fill upper level vacancies by recruiting candidates internally.

Recruiter Traits and Behaviors

Recruiter affects the nature of both the job vacancy and the applicants generated. t any employer, however, recruiters' challenge is to identify the particular methods that will yield the best candidates as efficiently as possible. Recruiters affect results not only by providing plenty of information, but by providing the right kind of information.

Social Security Act of 1935

Requires everyone receiving unemployment compensation be registered with a local state employment office. Work with USES to ensure that unemployed individuals eventually get off stat aid and back on employer payroll.

Niche Boards

Smaller, more tailored websites that focus on certain industries. CIO.com Telecommcareers.net

Forecasting

The attempts to determine the supply of and demand for various types of human resources. The primary goal is to predict which areas of the organization will experience labor shortages or surpluses.

Trend Analysis

The most sophisticated level used by organizations to construct and apply statistical models that predict labor demand for the next year, given the relatively objective statistics from the previous year. -Constructing and applying statistical models that predict labor demand for next year. Given relatively objective statistics from previous year

Implementing and Evaluating the HR Plan

The organization must hold some individual accountable for achieving the goal. Must have authority and resources needed to accomplish the goal. Issue regular progress reports Obvious step is to check whether the organization has succeeded in avoiding labor shortages or surplus. Which parts contributed to success and failure.

External Sources 59%

Usually for entry level positions and specialized upper level positions. Bring new ideas and new ways of doing business. Can give organization competitive advantage during slow economy by hiring the best talent.

1. Where did people who were in each job category go? 2. Where did people now in each job category come from?

What 2 questions does the Transitional Matrix answer?

1. Warm 2. Informative

What are 2 characteristics what applicants respond positively to recruiters that have this?

1. Not committed to the organization 2. Tensions can develop

What are 2 disadvantages of Temporary Workers

1. Occupational Outlook Quarterly 2. Monthly Labor Review

What are 2 important sources of data on the external labor market published by the Labor Departments Bureau of Labor statistics?

1. Statistical Methods 2. Judgments

What are 2 methods of forecasting supply and demand?

Internal External

What are 2 types of Recruitment Sources?

1. Yield Ratios 2. Cost per Hire

What are 2 ways to evaluate the quality of a source?

1. Internships 2. Job Fairs

What are 2 ways to increase presence on universities.

1. Applicants already sold on the organization 2. Self-Selection 3. Cost much Less

What are 3 advantages to direct applicants and referrals?

1. Personel Policies 2. Recruitment Sources 3. Characteristics and behavior of the recruiter

What are 3 areas of recruiting?

1. Nature of Jobs 2. Recruitment sources 3. Nature of Applicants

What are 3 areas that decisions about internal and external affect?

1. Limits fresh viewpoints 2. Refer people who are like themselves 3. Unfair Hiring practices (Nepotism)

What are 3 disadvantages of referrals?

1. Characteristics of Recruiter 2. Behavior of Recruiter 3. Enhancing Recruiters impact

What are 3 main influences of the recruiter?

1. Forecast labor Demand 2. Determine Labor Supply 3. Determine labor Surplus and shortage

What are 3 steps for forecasting?

1. Expense 2. Speed 3. Effectiveness

What are 3 ways planning options differ by?

1. Provide timely Feedback 2. Avoid offensive behavior 3. Recruit with teams

What are 3 ways to enhance recruiters impact?

1. Applicants well known to the organization 2. Relatively knowledgable about Vacancies. 3. Minimized unrealistic expectations 4. Cheaper and Faster

What are 4 advantages of Internal Sources?

1. Internal vs. External 2. Lead-the-Market Pay Strategies 3. Employment-at-Will Policies 4. Image Advertising

What are 4 personnel policies that influence recruitment?

1. Direct Applicants 2. Referrals 3. Advertisements 4. Electronic 5. Public Agencies 6. Private Agencies 7. College/Universities

What are 7 examples that organizations recruit through external sources?

1. Overtime 2. Temporary Employees 3. Outsourcing 4. Retrained transfers 5. Turnover Reduction 6. New External Hires 7. Technology Innovation

What are 7 options for avoiding shortages.

-Motivation drops -Employees feel confused, demoralized -Employee survivors become self-absorb/ afraid to take risks -Disrupts social networks for creativity -Eliminate people who turn out to be irreplaceable -Loss of talent -Negative publicity

What are 7 reasons for why downsizing efforts fail to meet expectations?

1. Downsizing 2. Pay Reduction 3. Demotions 4. Transfers 5. Work Sharing 6. Hiring Freeze 7. Natural Attrition 8. Early Retirment 9. Retraining

What are 9 options for reducing surplus?

1. Spanish 2. Chineses

What are the 2 different languages companies are especially interested in?

1. Trend Analysis 2. Leading Indicators

What are the 2 way for Forecasting the LABOR DEMAND?

1. Reducing Costs 2. Replacing labor with technology 3. Mergers and Acquisitions 4. Moving to more economical locations

What are the 4 ways that downsizing promotes future competitiveness?

1. Forecasting 2. Goal Setting 3. Strategic Planning 4. Program Implementation 5. Evaluation

What are the 5 stages in the Process of Human Resource Planning?

Finding US workers who can communicate in parts of the world that are most profitable

What is one challenge organizations are facing in labor shortages?

1. Transitional Matrix

What is one type of statistical procedure that can be used for internal Labor Supply analysis?

Internships

What is the best way to establish a strong presence on campus? Early access to potential candidates, first hand experience.