What are the advantages and disadvantages of this recruitment planning model? Explain

Assignment Purpose

Attracting employees by using different recruitment sources is an important aspect of human resource management. Analyzing the effects of different recruitment sources as well as the total strategy can assist in planning future recruitment strategies. In this assignment, you will analyze recruitment planning scenarios based on the recruitment experience of the Salesteq Corporation.

Familiarize yourself with the spreadsheet before beginning your work.

Background Salesteq Corporation is a successful consumer products company located in San Francisco. The company has been growing at a constant rate during the past three years. Productivity gains have been realized through the computerization of its services. Salesteq has strongly supported its personnel staff since people are viewed as a critical asset for the continued success of the company. Employees are recruited from four sources: the web, newspapers, radio, and referrals. All recruits are interviewed and a selection decision is made “by someone” based on the interview score? Salesteq’s HR staff monitor the number of interviews they conduct by recruitment source. Additionally, recruitment data on the number of people hired, average performance of hires at the end of the first year, and total recruitment costs are collected. In this assignment, you will be calculating a number of HR metrics pertaining to different areas of recruitment. These include metrics for assessing Salesteq’s previous recruitment strategy, planned interview strategy, and actual vs. forecasted recruitment. These computations will help you to understand what assessments go into evaluating different areas of recruitment at an organization.

Part I – Results of Previous Recruitment Strategy

please refer to the data in the section of the Excel sheet titled “Recruitment Data by Source for Previous Year” to complete the calculations below. In this section, you will be looking backward at your interview strategy and success by calculating a number of key metrics. These are: 1. Cost Per Interview. Calculate cost per interview by dividing the total cost for recruiting for each source by the number of interviews. Calculate this for all sources. 2. Cost Per Hire. Calculate cost per hire by dividing the total cost for recruiting by source by the number of hires. Calculate this for all sources. 3. Percent Offers. Calculate percent offers by dividing the number of offers extended to candidates for each source by the number of interviews. Calculate this for all sources. 4. Yield Ratio. Calculate yield ratio by dividing the number of hires from each source by the number of interviews for each source. Calculate this for all sources. 5. Total Performance. Calculate total performance by source by multiplying the number of hires by source by the average performance. Calculate this for all sources. 6. Probability of Quitting. Calculate an estimate the quitting probability for hires of each source by dividing the number of quits in year 1 (e.g. the anticipated number of new hires who will quit within the first year) by the number of hires. Calculate this for all sources.

Part II – Results of Planned Interview Strategy

Please refer to the data in the sections of the Excel sheet titled “Interview Strategy by Recruitment Source” and “Results of Planned Interview Strategy” to complete the calculations below. In this section, you will be forecasting your recruitment plans for the coming year. 1. Number of Offers. To obtain the number offers, multiply the number of interviews by the percent offers received last year. Do this for each recruitment source. 2. Number of Hires. To obtain this figure, multiply the number of interviews for newspapers by the yield ratio from last year. Do this for each recruitment source. 3. Total Performance. To obtain this figure, multiply the number of hires by the average performance from last year (Row 12). Do this for each recruitment source. 4. Quits in 1 Year. To estimate the quits in one year, multiply the number of hires by the probability quitting last year. Do this for each source. 5. Total Cost. To obtain the total cost of recruiting by newspaper, multiply the number of interviews for newspapers by the cost per interview for newspapers. Do this for each recruitment source.

Part III – Totals for Actual vs. Forecasted Recruitment

Please refer to the data in the section of the Excel sheet titled “Totals for Actual vs. Forecasted Recruitment” to complete the calculations below. Notice that this section of the spreadsheet presents a summary analysis so the effects of forecasted recruitment scenarios can be quickly compared with previous data. Notice also that the ACTUAL and FORECASTED columns are already completed. The ACTUAL column represents actual data from last year. The FORECASTED column represents our forecasted information from above.

  
 

Transcribed Image Text:

RECRUITMENT AT SALESTEQ CORPORATION #APPLICANTS # INTERVIEWS # OFFERS # HIRES RECRUITMENT DATA BY SOURCE FOR PREVIOUS YEAR AVG. PERFORMANCE QUITS IN 1 YEAR TOTAL COST Newspapers Referrals 192 79 21 14 3.55 4 RECRUITMENT SOURCE Walk-Ins $4,765.00 64 43 18 15 4.1 3 $1,800.00 49 18 5 3 3 1 $725.00 Radio 203 57 9 6 2.85 2 $5,760.00 RECRUITMENT AT SALESTEQ CORPORATION #APPLICANTS # INTERVIEWS # OFFERS # HIRES RECRUITMENT DATA BY SOURCE FOR PREVIOUS YEAR AVG. PERFORMANCE QUITS IN 1 YEAR TOTAL COST Newspapers Referrals 192 79 21 14 3.55 4 RECRUITMENT SOURCE Walk-Ins $4,765.00 64 43 18 15 4.1 3 $1,800.00 49 18 5 3 3 1 $725.00 Radio 203 57 9 6 2.85 2 $5,760.00

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Advantages of the recruitment planning model are 1 Datadriven decision making The model allows HR staff to collect and analyze recruitment data on the ... View the full answer