Developing a Hiring System Planning the Hiring Process.
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Developing a Hiring System Planning the Hiring Process
Stages in Recruiting Establishing Objectives –What kind of talent(s) needed? –How many? –When? Recruitment Strategy Recruitment Activities Evaluation
Tactical & Strategic Planning Tactical: Responding to a hiring event –How do you avoid getting into panic/crisis hiring every time someone quits? Strategic: Planning the long-term development of your work force –How do you ensure your work force is ready for the future?
Strategic Planning: Key Questions What HR needs will arise as a result of changes in firm’s mission/strategy? Are projected staffing levels and skill mix sufficient? Where will you be caught short in skills? Where will you have excess capacity, and how should it be handled?
Steps in Strategic HR Planning Forecast HR demand Forecast HR supply Reconcile demand and supply and respond
Step 1: Forecasting HR Demand Qualitative approach Quantitative approach: Time Series Analysis Quantitative: Relate to business factors
Forecasting Demand Example: Historical Data on Staffing
Forecasting Demand Example: Historical Data on Business Activity
Is There a Relationship between Business Activity & Staffing Levels Use multiple regression to estimate –Y = a + b 1 X 1 + b 2 X 2 + b 3 X 3 …... Job A = a + b 1 Loan Volume + b 2 Number of Borrowers + b 3 Insurance Income –Repeat for Jobs B, C & D Job A = 6.0 +.061 (Loan Volume)
Using the Regression Results to Predict 2005 Staffing Levels Job A = 6.0 +.000061 (Loan Volume) For 2005, the forecasted loan volume is 1.675B Job A = 6.0 +.000061 (1.675B) Job A = 102
Step 1: Forecasting HR Demand Qualitative approach Quantitative approach –Relate to business factors –Time-series analysis
Step 3: Reconcile and Respond Change recruiting practices Alter retention rates or patterns –Change compensation, job design, training Change promotion or transfer patterns Reduction in force? Modify business strategy?
Tactical Planning Strategies How do you avoid crisis hiring? PATH: Planned Alternative To Hiring Three key questions: –What won’t get done with this person gone? –Which of these duties are the most critical? –How can they be accomplished until an effective hire is made?