TEST II Strategic Staffing
Correlation Coefficient
(Pearson's r) is a single number that ranges from -1 to +1 that reflects the direction (pos or neg) and magnitude (strength) of the relationship between two variables
Forecasting and planning allows firms to?
- Better manage talent shortages and surpluses. - - Evaluate short-term & long-term (multi-year) workforce planning. Forecasting is not a 100% science. Therefore its best to produce ranges between low, probable and high estimates. Than recalculate those estimates as the organization internal and external environment change.
STUDY GUIDES - CHAPTER 5
STUDY GUIDES - CHAPTER
Normal curve
A symmetrical, bell- shaped curve representing the distribution of a characteristic
Define: Internal forecasting tools
- Create staffing levels: ie: generate a given amount of revenue within a particular period of time. Hire enough sale people to generate $5 million in revenue within 6 months. - Increase staffing levels to execute a growth strategy - Decrease staffing level during restructuring - Obtain new talent to create new products or provide different services
Describe EEOC'sbest recruiting practices and how they promote consistency & quality... (READ)
- Establish policy for recruiting and hiring, including criteria, procedures, responsibie individuals, and applicability of diversity and affirmative action initiatives. - engage in short-term and long-term strategic planning - Identify the applicable barriers to equal employment opportunity - Specify firms recruiting goals - Make a road map for implementing the plan - ensure there is a communication network that can be used to notify interested persons about the firms job opportunities. The communication network should include advertising within the organization, within the general media, and media that focuses on minority, people with disability, elderly, and women. - Communicate the competencies, skills, and abilities required for available positions - Communicate about family, friendly, and work friendly programs - Where transportation is an issue, consider arrangements with local transit authority - participate in career and job fairs and open houses - Work with professional associations, civic associations, and educational institutions to attract minority, women, women with diabiltyies, and older people - Provide recruiter, employee, and search firms with instructions to recruit diverse candidate pools and expand the companies search network - Partner with organizations dedicated to serving diverse groups - Use internship, work study, co-op, and scholarship programs to attract and pursuit interested and qualified candidate - Develop and support educational programs, become more involved with educational institutions that can provide the company with leads used to recruit a more diverse talent pool - Ensure that personnel involved in the recruiting and hiring process are well training in terms of there equal employment opportunities responsibilities - Become more involved in the community to improve the companies image and attract diverse candidates. - Eliminate practices that expludes diverse candidate or create barriers for them - Evaluate the firms managers on the progress they make towards the company equal employment opportunities goals.
Other factors:
- Increase/decrease in consumer spending - Unemployment rate - Disposable income of consumers - Purchases of durable goods - Housing purchases...
Develop/implement Action plan:---->
- Which competencies are available? - Will the firm be able to find those competencies internally or externally? - How many external workers possess those competencies?
Work Force Analysis - Forecast firms demand for labor:---->
- Which jobs will the firm need? - What competencies does the business strategy require? - What is the firms expected level of business activity? - How many workers are needed?
The 4 elements of hiring internal applicants
-Internal advertising costs -Travel and interview cost -Relocation cost -Internal recruiter costs
Setting talent goals and objectives that are....
....Consistent with the firm's staffing strategy and talent philosophy are important goals of the planning process.
The assessment of the organization's external labor environment and a company's own talent strengths and shortcomings can influence its...
...competitive advantage and the business strategies it is likely to be able to pursue successfully.
Forecasting the number, types, and quality of employees needed to execute the business strategy IS...
...critical for effective staffing
It is important to determine the________ of the recruiting staff and resources that will be needed and to ________ before staffing initiatives begin.
...the size ... ...secure the appropriate budget and resources...
What are the 3 additional purposes of internal assessment?
1. Evaluating employees fit with the firms other jobs 2. Assessing employees to enhance the firms strategic capabilities 3. Gathering information with which to make downsizing decisions
What are the 5 steps of workforce planning?
1. Identify firms business strategy 2. Articulate firms talent philosophy and strategic staffing decisions 3. Conduct a workforce analysis 4. Develop and implement action plans 5. Monitor, evaluate, and revise the forecasts and action plans
Workforce Planning Process
1. Identify the business strategy 2. Articulate the firm's talent philosophy and strategic staffing decisions 3. Conduct a workforce analysis 4. Develop and implement action plans 5. Monitor, evaluate and revise the forcast and action plans
Creating a sourcing plan
1. Profile desirable employees to identify promising sources 2. Perform ongoing recuiting source effectiveness analyses by tracking
What are the 5 most common types of information that can be used to evaluate general business trends in the economy ?
1. Seasonal factors 2. Interest rates 3. Currency exchange rates 4. Competitive changes 5. Industry and economic forecasts
What is multi-source assessment?
360 degree assessment -performs reviews that involves employee supervisor as well as other people familiar with the employees job performance. Self assessment are help identify areas in which employee feel they can benefit from additional coaching or development.
DEFINE NINE BOX MATRIX
A combined assessment of an employee's performance and potential. It helps classify their managers current job performance and potential for advancement. The value of this depends on the quality of the assessment methodology that determines the box in which each individual is placed. The nine box is a method for displaying judgments made about employees, not for making those judgements. It can help companies understand the overall strength of their workforces, but only if the employees are accurately evaluated in the first place.
Organizational Image
A general impression based on both feelings and facts
Transition Analysis
A quantitative technique used to analyze internal labor markets and forecast internal labor supply
Explain what makes one recruiting source more effective than another:
A recruiting scource is affective if it help a company meet its staffing goals for the position being filled. The firms staffing goals might include speed, costs, and candidate and new hire quality. Given the goal of hiring high potential employees able to perform well and contribute to a businesses strategy execution, attending to the quality of the applicant pool is atleast as important as attending to the quantity of applicants.
Job knowledge test
A simple test that measures the specific knowledge and vocabulary associated with a particular job.
Recruiting
Activities that convert the leads generated during sourcing into job applicants, generate interst in a company and its jobs, and persuade candidates to accept extended job offers
Costs related to external hiring?
Advertising expense Agency and search firm fee Employees referral bonuses Recruiter and applicant travel costs Relocation costs Company recruiter costs +10% miscellaneous
Performance reviews?
Aka performance appraisals. Supervisor conducts. Some supervisors may not have direct knowledge and feedback from employees, therefore it may be peers, co-workers, or subordinates
Forcasting Labor Demand
An organization's demand for labor depends on its forecasted business activity and its business needs, which depend on its business strategy
Define Semi-Passive Job seeker?
Are interested in a new position, but are only occasionally looking actively for a new job. Finding these people require more proactive and strategic efforts because they are not regularly looking for job information. Higher quality candidates are in this labor market.
Ratio Analysis
Assumes that there is a relatively fixed ratio between the number of employees needed and certain business metrics, needs consistent historical trends to calculate ratios
Employer Image
Attitudes toward and perceptions of the organization as an employer
Why is sourcing talent an important part of recruitment and staffing processes?
Because it identifies the talent pools and the people who will eventually become applicants and new hires, it lays the foundation for a successful staffing effort.
Bottom-Up Judgment forecasting
Bottom up uses the input of lower managers to estimate firms total staffing requirements. Each manager will estimate the number of employees he or she needs to execute firm strategy. Mechanical methods such as scatter plots trend forecasting can be used as a starting point and then be compared to managerial judgement staffing efforts.
Seasonal Forcast
Business demands that are seasonal and predictable. The better an organization can anticipate them, the better it will be able to have an appropriate workforce in place as needed
Local employment agencies
Can be a useful source of guidance in terms of information on the characteristics of the local force
Interest Rate Forecast
Can project the likelihood that the organization will need or be able to build new establishments and increase production in the near future. Higher interest rates discourage capital investment banking making it expensive for organizations to borrow money, as well as makes it more expensive for consummers to borrow money as well
DEFINE CAREER CROSSROADS MODEL
Career Crossroads Model-Mahler concluded that the most successful leaders change their perspective on what is important as they move to higher levels of leadership. The career crossroads model focuses on managerial and leadership positions rather than technical or professional work.
Chapter 10
Chapter 10
Chapter 6
Chapter 6
Chapter 7
Chapter 7
Forcasting Labor Supply
Combining current staffing levels with anticipated staffing gains and losses results in an estimate of the supply of labor for the target postion at a certain point in the future
Discuss how to develop action plans to address gaps between labor supply and labor demand...
Compare firms forecasted demand for labor in terms of quality, quantity, and skills with its forecasted supply. Does the organization expect to have the amount and quality of labor to meet its future staffing needs? Or does it expect to have a surplus or shortage of labor?
Define Industry and Economic Factors?
Conference boards index of leading indicators is used as a barometer of economic activity over 3-6 months. Whereas the monthly conference board consumer confidence index measure consumer sentiment by asking survey respondents questions about their perceptions of job security and willingness to spend money. GDP, gross domestic product is the business inventories and sales ratio tracked by the department of commerce and the purchasing managers index issued monthly by the institute for supply management. Specific industries, real estate, restaurants have there own forecasting's as well. Internal tracking of sales, incoming orders can also be used to forecast direct data from your own specific company/segment & the company can change its own forecasting based on its own business needs.
External Labor Market
Consists of people who not currently work for a firm
Internal Labor Market
Consists of the firm's current employees
Standard Scores
Converted raw scores that indicate where a person's score lies in comparison to a referent group
Passive Job seekers
Currently employed and are not actively seeking another job, but could be tempted by the right opportunity
Define Passive-Job Seeker?
Currently employed and not actively seeking for new employment, but could be tempted by the right opportunity. Many high quality candidates are usually in this group, but it may be difficult to find them and interest them in your job opportunities.
Geographic Targeting
Definition sourcing recruits based on where they live
What resources are needed?
Determine if external or internal hiring process is needed.
Step #4: Develop and Implement Action Plans
Develop action plans to address gaps listed in step 3. Plans should remain consistant with the firms talent philosophy, and can include short & long term recruiting, retention, compensation, succession management, and training and development plans. EXAMPLE - addressing issues such as an aging workforce. Or addressing a workforce with many employees who are roughly the same age might require long-term action plans.
What are the various strategies used to attract applicants?
Develop organizations Images & Brand Develop recruiting messages Active recruiting (Trade Fairs...)
Define step #2: Articulate firms talent philosophy and strategic staffing decisions?
Differentiate the commitment of the company: promoting works, retraining, preferences for hiring specific skills/talents or training them after they are hired.
What are the 3 types of fairness perspective in recruiting?
Distributive Fairness Procedural Fairness Interactional Fairness
Mentoring Programs?
Dynamic reciprocal relationship between a more experienced employee/mentor and a more junior employee protege aimed at promoting the career developments of both personnel.
Ratio Analysis
Estimates level of business activity of the firm can be converted into the number of employees the company will need to attain this level of productivity by using past staffing ratios. If an organization expects its employees-productivity ratio to remain stable over the forecasting period, than adding past ratio of employees to the productivity that been forecasted for upcoming period will be adequate. Whereas, if the organization experiences a change in productivity due to technology, training, restructuring, and so on, then the application of past ratios such as this is inappropriate. Ratio analysis are limited to one predictor of labor demand at a time (Labor hours per unit produced). More advanced statically technique, regression analysis can be used to incorporate multiple predictors such as sales forecasts, store sizes, mall traffic, and seasonal trends. Labor in small or medium size can be more difficult to predict due to variability and typically they are less historical information for which to draw. For example, adding 1 person to a 10 employee company means you expanded your workforce by 10% which may not correspond to growth rate. Often companies hire temporary or contingent workers until they are sure they need the staffing. EX: Assume a manufacturing facility has 100 employees and produces $20,000,000 of product annually, then the firms production-to-employee- ratio os 200,000;1. For every additional $200,000 of product the company wants to produce, it should hire an additional worker.
Forcasting the Internal Labor Market
Estimate the competency levels and number of employees likely to be working for the company at the end of the forecasting period
Return on investment Analysis
Estimate the return on investment from adding a new position based on the costs and outcomes resulting from that new hire
Step #5: Monitor, evaluate, and revise the forecasts and action plans:
Evaluate how effective the firms workforce plan has been in terms of meeting the company's recruiting and hiring goals. As business environment changes, firms forecasting and action plans may need to change as well.
Pro's & Con's of external sourcing?
External candidates may see challenges and opportunities in a new way and bring fresh ideas to the company. External sourcing usually takes longer than internal sourcing and costs more as well.
Describe Workforce Planning?
FOUNDATION of strategic staffing iDENTIFIES and ADDRESSES future challenges to a firms ability to get the RIGHT TALENT in place at the RIGHT TIME. Should be done for POSITIONS THAT ARE CRITICAL for the success of their units and the firm as a whole. Workforce plans are easy when organization is stable, more difficult as a company faces rapid changing conditions.
What is Distributive Fairness?
Fairness of hiring or promotion outcome
Interactional
Fairness of the interpersonal treatment and amount of information received during the hiring process
Flipping or Flip searching
Identifying people who link to a website
Step #3: Conduct workforce analysis?
Forecast labor demand and labor supply & identify gaps between the two. EXAMPLE: If organization is experience a growing demand for what it does or makes, unless it plans to increase automation of its manufacturing process, it will probably need to hire more people to meet the increased demand. Versus, if the demand for a product or service decreases, the companies need for employees is going to fall, may consider downsizing, lay-off. Time frame of forecasting depends on volatility. Relative stable , predictable environments would result in 5-10 year forecasting. Short-term time-frames 6-12 months in more dynamic, unpredictable environments. Must continually be revisited as busness environments change.
Define Work-Load Driven Forecasting?
Forecasting based on historical data on the average number of hires typically made per recruiter or the average number of recruits process per recruiter over a given period. EX: If an organization average recruiter can process 100 applicants, the company will need a staff of 20 recruiters to process 2000.
What is a recruiting guide?
Formal document that details the process to be followed when a firm recruits for an open position. Should address both internal & external recruiting processes. They clarify company policies and procedures relating to the budgets, activities, timelines, staff members responsible for recruiting, legal issues, and the specific steps to be taken to fill positions.
Images is?
General impressions based on both feeling and facts
What is the purpose of recruiting?
Generate and maintain the interest of desirable potential employees. Helps the organization employ a telented group of employees who contribute to the companies business strategy so the firm can achieve a competitive advantage. Recruiting affects the number and type of individuals willing to apply and accept job offers, including leads generated during sourcing into job applicants, generating interest in a company and its jobs, and persuading candidate to accept job offers extended to them. Recruiters are a personal link between the staffing needs of the organization and the labor market and must support the orgniaztions needs and recruiting objectives to be effective. Recruiters must be seen as reliable signals of what it will be like to work for the company. Recruiters should be selected and trained to be knowledgable about job openings and be effective in communicating information, be perceived as the applicant as trustworthy and positively reflect what it is like to work for the company. Examples: Familiarity with job and organization Good listening Communication Social skills Intelligence Self confidence Extraversion Enthusiasm, about the job and company Trustworthy Having credibility
Scatter plot
Graphical illustration of the relationship between two variables
How much time will it take to hire new employees?
Hiring efforts often take longer than expected. Staffing time line should be addressed in the beginning of staffing initiative. Average interval status can track applicant status. Example: 14 days = application 7 days = telephone assessment 7 days = interview 7 days = job offer extended 14 days job offer accepted. Total Days = 49
What are Staffing yields? Or hiring Yields?
Hiring yields is a percent of applications ultimately hired. It is important to remember key issue is not whether firm staffing yields are high or low, what matters is the staffing system is producing the right numbers of the right kinds of employees in the right time frame.
What is an organizations recruitment message?
How it handles its recruiting process, the behaviors of its recruiters can all influence its current and future hiring effectiveness and have spillover effects as well.
Describe the staffing planning process... What 3 questions should be answered...
How many people should be recruited? What resources are needed? How much time will it take to hire new employees?
Flow chart - example: 5-1 ... Business strategy --->
Identify firms talent philosophy and strategic goals
Define Competitive Change?
If new companies enter an industry, the customer will have greater product choices & a dilution of demand occurs for any one of the companies product or services. EXAMPLE: Increase supply of forign car makers resulted in a declining demand for American car makers, Downsizing its workforce was a consequence. Same if a company leaves a market - increase demand results from the companies still in business.
Signaling
In the absense of objective information they may rely on the recruiters' traits and behaviors as singals of aspects of both the company and the job opportunity
Spillover Effects
Indirect or unintended consequences of an action
Define "Spill-over effects" ?
Indirect or unintended consequences of an action. How applicant are treated during the recruitment process have a spill-over affect that extends beyond the recruiting activities. Spill-over effect can affect customer information/shared by the applicants experience, organizations performance and its ability to recruit candidates affectively in the future. EX of bad experiences include: extended period for pre-scheduled interviews, met unprepared & distracted interviewers, felt the selection process was unfair or were made to feel unimportant or unwelcomed. VERSUS: Applicant being greeted by name, given tour of facility, treated respectably, interviewed on time by prepared and enthusiastic recruiters and heard from the company when it said it would follow - most applicants treated this way are more likely to re-apply and continue to do business with it. Recruiter should make the applicant continually feel excited about the opportunity & ultimately be willing to accept a reasonable job offer.
Boolean searchers
Interent search technique that allows a search to be narrowed by using special terms before the key words
Define Interest Rates?
Interest forecasts can project the likelihood of the organizations growth - such as building new plants, increasing production... EX: Higher interest rates discourage capital investments by making it more expensive for organizations to borrow money to fund their expansion plans. Versus, when interest rates decrease, product demands increases. Rise in interest rates suggest that demand for labor will fall... Falling interest suggest demand for labor will rise. EX: When interest rates fall, the demand for homes tend to increase, increasing the demand for skilled trade workers and mortgage specialists.
Types of recruiting sources?
Internal Recruiting External Recruiting Job Fairs - traditional job seekers Trade Fairs - Semi-passive & passive job seekers Observations Resume databases Career sites Internet job boards Search firms Professional Associations State Employment Agencies Military Transition Services Acquisition and mergers Raiding Competitors Internet Data Mining: Internet data mining, Collean search, C-raying searches, flip searches, web crawlers Networking Schools Previous employees Non-US Citizens - offshore labr Walk-in Creative sourcing
Pro's & Con's of internal sourcing?
Internal candidates who don't get promoted may get discouraged and leave the firm, making it critical to discuss with unsuccessful internal job candidates the reasons why they did not get the jobs they were applying for and what they can do to be more successful in the future. A firm relies on internal sourcing also runs the risk of limiting new ideas and insights. External candidates may see challenges and opportunities in a new way and bring fresh ideas to the company. External sourcing usually takes longer than internal sourcing and costs more as well. EXAMPLES: Succession Management, Talent Inventories, Employee development, Internal job posting systems, employee referrals.
Trend Analysis
Involves looking at past employment patterns. The employers, the industries, and even the nations patterns and using those patterns to predict the firms future labor needs. For example, growing of 5% annually for the last 8 years, a company can assume that they will experience the same 5% growth rate. EXAMPLE: Hospitals number of nurses educated internationally versus domestically from 2000-2007, trend line shows the number has been steadily declining versus the number of internationally educated nurses has been steadily increasing for the last 7 years. This would suggest hospitals might need to scale up its international recruiting efforts. Analysis can sometime predict its turnover by location, position type, salary, employee tenure, and divisions.
Criterion Data
Is information about important outcomes of the staffing process
Predictive Data
Is information about measures used to make projections about outcomes
Define Staffing Efficiency?
Is the total cost associated with the compensation of the newly hired employee. EX: Firms internal and external staffing costs were 100,000 and 10 people were hired each with a base salary of 60,000. The firm staffing efficianty would be 100,000 divided by 600,000 or 16.67%. Lower staffing percentage reflect greater staffing efficiency.
How many people should be recruited?
It is always necessary to generate more applicants than the number of open positions. There is no ideal number to recruit dependent on HR strategy: Too small may result in not enough qualified candidates to fill the positions. Too large, causes unreasonable burden to administration wasting time and money.
Define Step #1 Identify firms business strategy?
Its vision, missions, and strategy affect its current and future staffing requirements (eg: # of employees it needs).
Internal labor market forecasting methods
Judgement
What is a skill inventory?
List outlining which employees have certain skills competencies and other relevant job characteristics EX: Firm needs a sales associate that speaks French, a company can acquire a skills inventory database
Forcasting Business Activity
Locating reliable high quality information sources within and outside of the organizationa to forecast business activity
Action plans that deal with Temporary Talent Shortages?
Offer hiring incentives such as sign-on and retention bonuses consisting of stock options or cash to be paid after employee has successfully worked for a period of time. If the root cause of labor shortage, the action plan should address the following as an example: low pay, poor supervision, limited career advancement potential, limited training opportunities. Dealing with Persistent Talent Shortage: An organization must reduce its demand for talent, it will be in short supply and/or increase its supply of employees with the qualifications it needs. Many organizations try to reduce their needs for skills by increasing the use of automation and technology. If talent is hard to find or expensive, one option is to outsource called BUSINESS PROCESS OUTSOURCING.
Staffing Ratio
Mathematical way of calculating the number of employees a firm needs to produce certain levels of output
What are the goals of internal assessment?
Maximizing fit Assessing accurately Maximizing companies return on investment in its assessment system Generating positive stakeholder reactions supporting the firms talent philosophy and HR strategy Establishing and reinforcing the firm human resource strategy Establishing and reinforcing the firms employer image Identify employees developmental needs assessing ethically and complying with the law
Criterion- refrenced measures
Measures in which the scores have meaning in and of themsevles
Develop Action Plans to address the forecasted Talent Gap--->
Monitor evaluate, and revise the forecasts and Action Plans
Define Currency Exchange Rates?
More prevalent in global company/business. If a countries currency is strengthening against other currencies, it means that one unit of the countries currency translates into greater amounts of the foreign currency than when the countries currency was weaker - meaning that a company can import goods and materials more cheaply because one unit of the domestic currency buys more foreign goods than it used too. However, this also means that countrys products are more expensive overseas. EXAMPLE: When new Zealands dollar stegnthed against the US dollar in early 2000's, beef jerky maker was forced to cut 2/3rd of its workforce because it became cheaper for the companys biggest US customer to buy its jerky from brazil. Also, if a US company does a lot of business internationally, a strengthening US dollar usually translates into lower international demand for the firms products and lower labor demand for the firm. Vice versa, if a countries currency demand decreases = Relative prices of exported good fall & international demand for the countries products rises as a result, as does the countries demand for labor. Exchange rates can be volatile and difficult to predict in the long term. More stable the exchange rate, the more accurate the firms product demand and labor forecasts will be.
What are the 2 modes of internal assessment?
NINE BOX MATRIX CAREER CROSSROADS MODEL
Define Active job seeker?
Needs a job and are actively looking for information about job openings. Traditional job advertising is usually sufficient to reach these people, although overall quality of this labor market may not be high.
Top Down Judgment forecasting
Organization leaders rely on their experience and knowledge to make predictions. The estimates of top managers become staffing goals for lower managers in the organization.
Top- Down
Organizational leaders rely on their experience and knowledge of their industry and company to make predictions about what future staffing levels will need to be
Forcasting the External Labor Market
Organizations monitor the external labor market in two ways 1. Through their own observations and experiences 2. By monitoring labor market statistics generated by others
What is Interactional Fairness?
People perceptions of the interpersonal treatment and amount of information they received during the hiring process.
Semi-passive job seekers
People who are interested in a new position but only occasionally look actively for one
Active job seekers
People who need a job and are actively looking for information about job openings
What are In-House Sourcing?
People who rely on their own contacts and research and the organizations database of potential applicants to find recruits. These individuals have great deal of experience in the fields in which they work and may develop relationships with promising talent to keep them in the pipeline as potential future recruits.
What is Procedural Fairness?
Peoples belief that the policies and procedures that resulted in the hiring or promotion decision were fair
Define Seasonal Factors?
Predictability Ex: USPC- displays sharp increase in volume between Nov-Jan every year due to holidays shipping demands. Since this is known, managers can anticipate, plan, and coordinate increase staffing efforts annually. **For many other organization, business cycles are much less predictable. The better a company is at anticipating dips and spikes, the better it will be able to appropriate workforce plan in places/department that need them.
Identify Gaps:--->
Project labor surplus or shortages
Realistic Job Previews
Provide both positive and potentially negative information to job candidates
A well thought out sourcing strategy should focus on recruiting what type of applicants?
Quality passive job seekers... And ignoring traditional recruitment methods
How do companies forecast demands for workers? (4)
Ratio Analysis Scatter Plots Trend Analysis Judgmental forecasting Return on investment analysis
What makes a recruiter less effective?
Recruiter is usually the first person applicant has contact with and is most important player in the hiring process. A recruiter can potentially turn away passive applicants with great talent potential. If a hiring manager or a CEO of the company is doing the recruiting, this will send a signal that the job is important to the company.
Reliability
Refers to how dependably or consistently a measure assesses a particular characteristic
Test-retest reliability
Reflects the repeatabilty of scores over time and the stability of the underlying construct being measured
Employer brand?
Reflects what a company offers as an employer and helps manage internal and external perceptions of what it is like to work there. Answers the question: "Why should I work here" An effective employer brand will differentiate itself from its competitors and its appealing targeted applicant.
judgmental forecasting
Relies on the experience and insight of people in the organization to predict a firm's future employment needs. Asking managers and supervisors about future staffing and employee skill level can be insightful. Often managers can predict retirement eligibility and future intentions to determine talent losses several years into the future.
Judgemental Forcasting
Relies on the experience and insights of people in the organization to predict future needs
Scatter Plots
Show graphically how two different variables are related
Scatter Plots
Show how fast 2 different variables such as revenue and sales person staffing levels are related. When forecasting labor demand, scatter plots help firms determine if a factor has historically been related to staffing levels. EX: number of ambulance drivers dependent upon population served. We see increase of population result in increase of ambulance drivers needed to serve that population.
What are the internal assessment methods?
Skills Inventories Mentoring Programs Performance Review Multi-scource Assesment Job Knowledge tests
What is sourcing in the staffing process?
Sourcing is a part of the recruiting process it involves analyzing different possible sources of recruits to identify those that are best to meet the firms staffing goals.
Six Career passages
Starting point: managing yourself 1) Managing others 2) Managing managers 3) Managing function 4) Managing a business 5) Managing multiple businesses 6) Managing the enterprise Each passage requires that a person learn new values and skills and unlearn old ones.
Return on Investment analysis
Step #1 Assign dollar value to the benefits expected from a new hire, then determine how much money per period will this position save the organization in terms of increase efficiency, how much value will be added to greater productivity, quality, customer service. The sums of the figures is the value of adding this position. Step #2: Calculate costs to advertise positions, interview and screen candidates, pay for their travel and relocate train and compensate them is calculated. These figures are the initial investment the company has made to the new hire Step #3: Compare company costs to what a new hire earns for the company to determine the firms return on the investments. EX: A stores new furniture sales person generates an average of $60,000 in profits the first year. In addition, reduce work load on the rest of the sales staff, improves efficiency and ability to provide high quality customer service by 5% percent. ($15,000 to the company). Cost to hire is expected to be 7,000 and the salary is 25,000 before commission. The return on the investment is as follows: 60,000 + 15,000 divided by 7,000 + 25,000= 75,000 divided by 32,000= 234% return on investments (ROI) Pg 123
The increasing number of sourcing methods and the pressures of sourcing job applicants in a tight talent market can create pressure to source in ways that may be legal, but unethical... examples include?
Stretching the truth, poaching candidates from competitors, and using the Internet in deceitful ways are not ethical and can harm an employer's reputation.
Talent inventories
Summarize each employee's skills competencies and qualifications
."Brand?"
Symbolic picture of all information connected to a company or its products
Labor Supply chain management
The basic foundation of any supply chain model is to have the right product in the right volume in the right place at the right timem with the right quality
Integration
The coordination of a single global staffing strategy with the organization retaining adequate controls over local operations
Raw Scores
The unadjusted scores on a measure
Distributive
The perceived fairness of the hiring or promotion outcome
Whole person approach
The practice of using a variety of measures and proceduers to more fully assess people
Measurement
The process of assigning numbers according to some rule or convention to aspects of people, jobs, job success, or aspects of the staffing system
Scoring
The process of assigning numerical values during measurement
Methods that can be used to to forcast internal talent resources:
Transition Analysis Managerial Judgment Talent inventories - analyze and identify qualified employees for the anticipated job openings. Detailed records or databases that summarize each employees skills, competencies, education, training, languages spoken, previous performance reviews, and chances of being promoted. Replacement Charts - tracking potential replacements for a particular position, can be manual or automated.
How do you determine future vacancy needs?
To determine the supply of a firms internal talent at a future point in time, subtract the number of employees the firm anticipates losing via promotions, demotions, transfers, retirements, and resignations from the number of employees in the position at the beginning o the forecasting period. Than add any antipated talent gains from transfers, promotions, and demotions to the internal labor supply forcast. In tighter labor markets when workers are harder to find, more employees than usual may leave the organization to pursue other opportunities. Fewer will leave during looser labor markets when jobs are less plentiful.
Trend Analysis
Uses past employment patterns to predict future needs; rarely used by itself in making labor demand forecasts
Bottom- Up
Uses the imput of lower-level managers in estimating staffing requirements
Web Crawlers
Websites that coninually search for people with disirable talents and sell access to the sites to recruiters
Action plans that deal with Temporary Employee Surplus?
When the firm expects business slow down to be temporary, it can use temporary or contingent workers who are the first to be let go when business rebounds. Temporary layoffs are another option but they sometimes need to last 6 months to be cost effective. Alternatives to layoffs include across the board salary cuts, reduction in work hours, or relocating workers to expanding areas as a business. Some firms offer unpaid vacations, sabbaticals, job sharing, and other creative solutions. Dealing with a Persistent Employee surplus: Organizations sometimes need to permanently reduce the number of people they employ as a result of technology changes, entrance of competitors and changes in customer preference. Offer early retirement incentives, lay offs, and not filling vacated positions can all reduce an employers head count. Other action plans include re-assignements, hiring freezes, and steering employees away from careers that may need future lay-offs. Retraining employees to fill other jobs in the firm can help bring labor and supply demand into balance.
What are the 2 ways to estimate resources needed?
Workload Driven Forecasts Staffing Efficiency
Future recruits
a system can be valid but if the system is too long or onerous then applicants, particulary high- quality applicants, are more likely to drop out of consideration
Applicants
a valid assessment system can result in adverse impact
Current Employees
a valid assessment system may favor external applicants or not give them all qualified employees an equal chance of applying for an internal position
Organization's time and cost
a valid assment system can have an unacceptably long time to fill or cost per hire
As the competition for talent further intensifies, the ability to source talent is likely to?
be an increasingly important factor in firms' abilities to find and attract the talent they need to execute their business strategies and maintain a competitive advantage.
Procedural
beliefs that the policies and procedures that resulted in the hiring or promotion decision were fair
Subjective measures
contains items for which the score can be influenced by the attittudes, biases, and personal characteristcs of the person doing the scoring
Best way to determine how many recruits is to use?
data collected during previous recruiting efforts. Also known as staffing yields or hiring yields.
Construct related validation
demonstrating that a measure assesses that construct, or characteristic it claims to measure
Content -related validation
demonstrating that the content of a measure asseses important job related behaviors
Criterion realted validation
demonstrating that there is a statistical relationship between scores from a measure and the criterion some aspect of job success
Random error
error that is not due to any consistent cause
Systematic error
error that occurs because of a consistent and predictable factors
Contamination error
error that occurs when other factors unrelated to whatever is being assessed affect the observed scores
Deficiency error
error that occurs when you fail to measure important aspects of the attribute you would like to measure
Although timeline & number of new hires/vacancies is particularly critical before an expansion effort or the hiring of an unusually large number of people, it is also important to assess needed resources before...
hiring a single individual to ensure that hiring goals can be met and that the hiring manager understands what to expect from the staffing process.
Define sizing analysis & statistical models -
identify if a company is slightly overstaffed in one area or has untapped potential in another.
Sourcing
identifying and locating high potential recruits
By profiling desirable employees, performing ongoing recruiting source effectiveness analyses, and prioritizing recruiting sources based on staffing goals and employee profiles, firms can...
increase the return on their staffing investment and increase the probability of efficiently and effectively finding and hiring the right talent.
Alternate or parallel form reliability
indicates how consistent scores are likely to be if a person completes two or more forms of the same measure
Inter- rater reliabilty
indicates how consistent scores are likely to be if the responses are scored by two or more raters using the same item, scale or instrument
Internal consistency reliability
indicates the extent to which items on a given measure assess the same contruct
Validity Coefficient
is a number bewteen 0 and +1 that indicates the magnitude of the relationship between a predictor (test scores) and the criterion (measure of actual job success)
Face validity
is a subjective assessment of how well items seem to be realted to the requirements of the job
Validation
is the cumulative and ongoing process of establishing the job relatedness of a measure
standard error of measurement (SEM)
is the margin of error that you should expect in an individual score because of the imperfect reliability of the measure
What is a Job posting
is used to inform employees that a job openings exist
Networking Sites
leverarging your personal connections to genrate applicants
Internal recruiting sources
locate people who currently work for the company who would be good recruits for other positions
Norm-refernced measures
measures in which the scores have meaning only in comparison to the scores of other respondents
Selection errors
occurs when you fail to hire someone who would have been successful at the job (false negatives) or when you hire someone who is not successful at the job (false positives)
Validity
refers to how well a measure assesses a given construct and the degree to which you can make specific conclusions or predictions based on observed scores
Objectivity
refers to the amount of judgement or biase involved in scoring an assessment measure
Confidence interval
represents the degreee of confidence that a person's "true" score lies within their earned score plus or minus the SEM, given some level of desired confidence
X-raying
searching for pages that are all on the same host
External recuiting sources
target people outside the firm
Additionally, it is important for planning purposes that the timeline for the recruiting effort be established to ensure....
that the correct number of new hires will be ready to start when they are needed.
Validity generalization
the degree to which evidence of validty obtained in one situation can be generalized to another situation without further study
Statistical significance
the degree to which the observed relationship is not likely due to sampling error
Differentiation
the need to acknowledge and respect diversity of local country cultures and expectations and thus giving some latitude to local managers to tailor the strategy to meet the needs of their location
Practical significance
the observed relationship is large enough to be of value in a practical sense
Workforce Planning
the process of predicting an organization's future employment needs and the availablity of current employees and external hires to meet those employment needs and execute the organization's business strategy
Effective sourcing improves what?
the quality of the applicant pool, it also decreases the burden placed on the candidate assessment and selection system because more applicants would be good hires
Employee surveys
to identify the potential for increased turnover in the future
Replacement charts
visually shows each of the possible successors for a job and summarizes their present performance, promotion readiness and developments needs
What is a job bidding?
while bidding permits employees to apply for a posted position.
