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How to Create an Effective Recruitment Budget and Plan
1.
2. What is Employee Engagement?
ï Employee Engagement is a fundamental concept in the
effort to understand and describe, both qualitatively and
quantitatively, the nature of the relationship between an
organization and its employees. An "engaged employee" is
defined as one who is fully absorbed by and enthusiastic
about their work and so takes positive action to further
the organization's reputation and interests. An engaged
employee has a positive attitude towards the organization
and its values.
ï An organization with "high" employee engagement might
therefore be expected to outperform those with "low"
employee engagement
3. The 10 C's of Employee
Engagement
ï Control
ï Confidence
ï Clarity
ï Connect
ï Credibility
ï Convey
ï Contribute
ï Career
ï Congratulate
ï Collaborate
4. Preparing Recruitment Plan
ï A solid recruitment plan saves time and money. In order to find the
perfect candidate, you need to think about who your company is, what
it does, and what kind of qualities you are looking for in a person who
will fill the job you need. By outlining what you need, you will
streamline the process, which helps gets your company to where it
needs to be. In business, time is money, and the ideal employee wants
to be found just as much as you want to find her, the ideal employee --
so faster is better.
Describe Your Company and Who it Needs
ï You need a short description of what your company does when you
recruit employees, so they know if your company is something they will
be interested in. Not everyone is a good fit for every company, so a
thorough but quick summary of the company and the employment
opportunity in the company helps narrow down candidates.
5. How to Find Candidates
ï Generally, there are two main ways businesses recruit employees. One is through
advertising and the other is through current employees. If you choose to advertise, make
a list of websites, and decide which websites are a better fit. Some job sites are geared
toward certain fields, so itâs important to research the focus of each one. Finding
candidates through employees can work a few ways. Word-of-mouth is a powerful
recruitment tool, because your employees will usually only tell those who they want to
work, so you can be relatively certain they will fit into your business' vibe. You can also set
up employee referral programs in which they and the new hire are rewarded for
successful hiring and retention.
Plot Your Interviewing Techniques
ï When the applications begin to pile up, how do you want to approach the applications?
Potential candidates should submit a resume. This is the first step toward selecting
people to interview, as some might not seem like a good fit at first blush. After you've
culled the applications, make a list of those you want to interview. Think about how you
would like to conduct the interviews. It could be a multi-step process in which they meet
first with you, and later they'll meet with other people in the company; alternatively, this
could all happen in one step. During the interview, What types of questions do you want
to ask? Make a list of the topics you want to consider, and be clear with yourself about
what you are looking for.
6. Make Your Selection
ï Before you make an offer of employment, verify that everything is in place. If
you require a background check, first be certain that you have all the
information to do that. Check that you are offering a competitive wage for the
market you are in and that the wage is competitive with the candidate's
experience and salary history.
Follow up
ï After you have offered your candidate a position, she may need time to think
about it. Decide on a time and give your offer a deadline, and then check back
if the candidate hasnât contacted you by that time. This gives you ample time to
offer the position to another candidate of your choice, if your first choice
refuses. When your candidate accepts, have a start date in mind and also verify
that all the processes for new hires are clear.
ï Taking a measured, well-thought out approach to building your recruitment
plan is the difference between finding a long-term employee who'll fit into and
who'll grow with your company, and between someone who'll gone before the
end of your fiscal year. Take time to think about what you want and need -- and
then write it down -- so you'll have a plan to follow.
7. E-recruiting:
E-recruitment, also known as online recruitment, is the practice of
using technology and in particular Web-based resources for tasks
involved with finding, attracting, assessing, interviewing and hiring
new personnel.
What are the benefits of online recruitment over traditional
recruitment?
1)Wide geographic reach: Advertising online opens up a much wider
candidate pool than advertising in print. This gives you a much
better chance of finding the right candidate for the job.
2) Speed: Jobs posted online go live in literally minutes and candidates
can - and do - respond immediately. HR Portal has a great statistic
from one of its clients HFC Bank: from the vacancy appearing online
to the candidate appearing in the interview room took just three
hours. While this was an exception, it proves it can be done.
8. 3) Lower Cost :This may surprise you but technology in
online recruitment is not expensive.
4) Interaction with candidates: Working online via
websites and email is the way of the future. It's not just the
youngsters who are logging on to find jobs either.
9. Preparing Recruitment Budget
ï Step 1: Estimate your total number of hires-Get an idea
of how many people you need to hire by talking to
hiring managers. Organize meetings to talk to them
about previous hiring budgets, projected hiring needs,
upcoming objectives and team-wide skills gaps.You
can also budget your number of hires by using a variety
of quantitative methods, including your recruitment
yield ratio.
10. ï Step 2: Estimate your basic recruitment costs-Basic recruiting costs can include:
ï Job boards. Analyze previous expenses on job boards to draw useful conclusions. How
much did you spend on Indeed, LinkedIn or niche job boards? Ask yourself which job
boards worked for specific industries (e.g. sales, developers, financial positions). Use
your estimated hires to calculate future job board fees.
ï Recruitersâ salaries. These costs refer to any in-house recruiters. Add the total cost of
their salaries to your budget. As a rule of thumb, you need one in-house recruiter for
every 50 hires planned in a year. External recruiters can be a better choice for harder-to-
fill and executive positions. External recruiters usually charge about 20 percent of a base
salary on a contingency basis. Plan to use a retained search for executive hires, which can
cost up to 40 percent of a hireâs base salary.
ï Employer branding. This includes all funds you need to establish an employer brand,
from attending events (separate from recruiting events) to creating material (e.g.
company videos, social media). Track how many quality candidates you meet at each
recruiting event, so you can plan to attend the most effective events in the future.
11. ï Step 3: Estimate your fixed costs-This category can include:
ï Partnerships with universities and institutions. Think of the
candidates you sourced from graduate career fairs or campus
recruitment events in previous years. How many of them were
actually hired? Use this information to calculate how much to
budget for partnerships with universities and institutions.
ï External recruiting agencies. Many companies rely on external
recruiters to do their hiring. Add agency fees to your budget, if
this applies to you.
ï Recruiting events. Calculate fees, tickets and accommodations
for events youâre interested in attending. If youâre not sure, draw
on previous event-spending budgets as a guide
12. ï Step 4: Estimate your recruiting technology costs
ï Factor software fees for recruiting tools (monthly or
annually) into your recruitment budget plan. Consider,
for example:
ï Video interviewing tools like HireVue and SparkHire.
ï Coding assessment tools
like Codility and HackerRank.
ï Blind hiring software like GapJumpers.
ï Background check services software like Checkr.
ï Applicant Tracking Systems (ATS) like Workable.
13. ï Step 5: Estimate your recruitment costs to improve hiring
ï Add steps to your recruitment and hiring processes.
For example, you could use pre-employment testing to
screen candidates before interviewing them. Testing fees
are usually tied to how many candidates take your tests.
ï Implement an employee referral program. Multiply
any incentives and bonuses in your employee referral
program by the number of hires you expect to come from
employee referrals. Historical data will come in handy to
determine this number. Also, include any costs to promote
and brand your referral program.
14. ï Step 6: Estimate your miscellaneous hiring costs
ï Consider how far your recruiting budget will go. Will you budget a
mobile careers page redesign to attract new candidates? Are you willing
to fly in candidates for interviews? Will you cover relocation expenses
for new hires? Itâs best to discuss this with your team early so you can
budget properly.
ï Step 7: Calculate cost-per-hire
ï Cost-per-hire metrics can help you evaluate and track your budget. You
can calculate your cost per hire estimate with this formula:
ï Internal costs are funds you spend on internal recruiting efforts (e.g.
referral programs and recruitersâ salaries). External costs cover all
external recruiting efforts (e.g job ad postings and recruiting agency
fees).
15. What is employer branding?
ï Employer branding is the internal culture a company creates
based on their brand story, and how employees live out the
brand values both internally and externally.
The importance of employer branding in
organisations
ï As competition increases, organisations need to realise the
importance of a strong employer brand and the benefits it
creates. Some benefits of an employer brand include:
ï Attracting and retaining top talent
ï Increased financial performance
ï Increased motivation and engagement of employees
ï Becoming an âemployer of choiceâ - job-seekers are increasingly
looking for companies that offer more than salary increases
16. Selection Errors & Minimising
Selection errors
Use only a "gut feel" approach
No relationship has been found between years of experience hiring
people and effective selection, so the experienced manager is no
more effective than the rookie manager. Experienced managers
tend to rely more on gut feel and stray from validated practices for
effective selection.Experience and intuition are important, but so
are more reliable and valid ways to collect data such as testing,
simulations and work samples. No one aspect of the selection
process should be relied on exclusively; rather they should be
weighted based on the company's values and the job requirements.
ï Solution: Design and train on a selection process that contains
various forms of data collection (qualitative and quantitative).
Design your process and weight each selection component based
on your company's values.
17. Don't know what you are looking for
It is hard to find "it" when you do not know what you are
looking for.
Solution: Like most decision-making, employee selection is
fundamentally emotional. Therefore, it is important to define
and prioritise the Critical Success Factors (CSFs) for the job
in advance. This enables clear thinking to establish a specific
position profile. Yes, it takes time, but it is an effective use of
time versus "shooting in the dark". See the following
Applicant Evaluation Tool to help you avoid this mistake.
18. Screen in vs. screen out
Most interviewers inherently look for characteristics that match the
company culture and job requirements. They want to find a winner â a
match! This perspective subtly but significantly makes us filter in good
attributes and rationalise why negative attributes will not be a problem if
we hire this person.
Solution: View your job as an investigator who is looking for any little
clue, any reason, why this candidate will not be wildly successful.
Talk 80% and listen 20%
The reverse should be true. If you are talking too much, then you are
selling the job (see below) instead of screening the candidate.
Solution: The interviewer should listen 80% of the time.
19. Take candidates at their word
Do not settle for vague general responses to be polite.
Solution: You are on a data collection mission. Probe for specific examples and situations
where the candidate has demonstrated the success factors you are looking for. Let the
candidate know at the beginning of the interview that your goal is to fully and specifically
understand his / her capabilities.
Give in to work and market pressures
The vast majority of managers hire too quickly and fire too slowly. In a tight labor market, it
is not uncommon for a hiring manager to meet the candidate only once then make an offer.
And when candidate supply is plentiful, managers tend to miss the opportunity to sift
through lots of candidates to find the very best fit due to "lack of time". Interesting that
these same managers can find the time to deal with performance issues resulting from poor
selection - again, pay me now or pay me later.
Solution: Use the 3x3x3 Rule: 3 employees interview 3 candidates 3 different times. You are
thinking, "All that time for one hire?" You will spend much more time than that if you make
the wrong hire.
20. Selling the job
This is another mistake that can be exacerbated in a tight labor market.
Managers want to sell the candidate on their company because they know
that the candidate likely has an offer on the table from a competing
company.
Solution: The effective, long-term objective is to look for a good "fit" for
the job and the company, regardless of the labor market conditions.
Oblivious to the legal Do's and Don'ts
This may not prevent you from making the right selection decision, but it
sure will increase your company's liabilities.
Solution: Ignorance is no excuse. Know, train, and enforce the law in
your selection processes.
21. Types of Interview and Choosing
the types of interviews
ï Structured Interview-A structured interview is typically formal and organized and may
include several interviewers, commonly referred to as a panel interview. An interviewer
who has a more structured style will usually begin with what is known as an âicebreakerâ
question. The icebreaker is used to relax you before the more serious questions are
asked. A discussion about the weather might be used or perhaps a question about the
traffic on your way to the office.
ï Unstructured Interview-The unstructured interview is what the name implies. The
only structure to the interview is the one that you provide. Basically, the interviewer is
interested in hearing from you, so you may be asked a variety of different open ended
questions.
ï You will find an unstructured interview to be more conversational and less formal in tone
than a structured interview. You may be asked questions about your hobbies, what you do
on the weekends, or other casual questions designed to put you at ease. Many students
prefer this laid back style of interviewing, but you must be cautious. Sometimes
employers intentionally adopt this casual demeanor so that you feel comfortable enough
to let down your guard and potentially reveal something that you normally would not. If
you find yourself in an unstructured interview, be friendly but maintain your
professionalism. Remember that you are there to showcase your best assets and to
convince the employer that you are the most qualified candidate for the job. Casual
conversation is acceptable, and it can set a positive tone for the interview, but be sure to
bring the conversation around to your skills and qualifications.
22. ï Stress Interview-This style is used primarily by interviewers who are hiring for positions
where there is a high level of daily stress in the work environment (i.e., sales, stockbroker,
etc.).
The same questions that are asked during a structured or unstructured interview may be
asked for a stress interview. However, there may be a difference in the behavior or
demeanor of the interviewer. The interviewer during a stress interview may appear
distracted, contrary, or indifferent to you. The idea behind this type of interview is to
assess your reaction to the pressure of indifference, rejection, and overall stress. To be
successful in the stress interview, it is recommended that you focus on the question that
is asked and not the manner in which it is asked.
ï Behavioral Interview-Behavioral interviewing is a widely used method of job
interviewing. This approach is based on the belief that past performance is the best
predictor of future behavior. Therefore, behavioral interview questions are designed to
probe your previous experiences in order to determine how you might behave in similar
situations in the future. In this type of interview, you will not be asked hypothetical
questions about how you would handle a situation if confronted with it in the
future. Instead you will be asked how you did handle a specific situation when you
encountered it in the past. Keep in mind that employers are not interested in what
you should have done, or what you will do next time...they want to know what you
actually did. Behavioral interview questions generally start with any one of the following
phrases:
23. ï Problem Solving or Case Interview-Employers utilize this style of
questioning to test a candidate's analytical ability and communication
skills. In a problem solving or case interview, you will be presented with a real
or simulated problem to consider and solve. You are not necessarily expected
to arrive at the "correct answer." What the interviewer is most concerned with
is your thought process, so be sure to "think out loud" when responding to this
type of question. An effective answer is one which demonstrates your ability to
break a problem down into manageable pieces and to think clearly under
pressure.
ï Panel Interview- Employers often like to gather the opinions of several
members of their staff prior to deciding which candidate to hire. To
accomplish this, panel interviews are often used where one candidate may be
interviewed by a few people at once. In a panel interview, take note of each
interviewerâs name, and refer to them by their names. When giving your
answers, focus on the person who asked you the question, but make eye contact
with the other members in the group from time to time. Panel interviews can
vary in style and tone, but generally they will be more formal and include
behavioral based questions.
24. Choosing a job interview
technique in 3 steps
1) Select a format-The first step in developing an effective interview technique is choosing the right method. Here are the
main options:
ï One-on-one-Solo interviews are the most common format for job interviews. They allow you to develop a rapport with
the candidate, read their body language, and go into detail about their experience and skills. The downside is that they
can be time consuming for the hiring manager â especially if the position requires additional interviews with relevant
stakeholders. Also, one-on-one interviews are more susceptible to bias affecting the final decision.
ï Panel-Similar to the solo format in tone and style, a panel interview simply has more than one interviewer present.
âYou have a variety of people on the panel that would potentially work with the candidate in different ways,â says HR
consultant Leah Fochuk of Calgaryâs Salopek & Associates. âTheyâre going to be able to assess that person from their
perspective.â
ï The disadvantage is that the candidate may feel overwhelmed by the number of interviewers. Thereâs also the
possibility of panel members clashing on specific topics or questions, so itâs important to plan ahead and choose who
will lead the interview and who will ask follow-up questions.
ï Group-In this format, there is more than one candidate interviewed simultaneously. This can be useful when there are
a lot of candidates for a role, or when a company is making multiple hires at once. The group format can often help to
put candidates at ease, and also shows how they conduct themselves in a team setting. However, it can also spark a
competition between the candidates and potentially drown out the less assertive candidates. In a group setting, itâs
important to train hiring mangers to see beyond the extroverts and assess all the candidates fairly.
ï Phone or video-New technology makes it easier than ever to interview from afar. For the most part, phone and video
interviews are used as an initial screening method to pare back the long list, rather than a final job interview method.
However, itâs a great option for hiring managers looking to connect with top talent in other locations, or remote
companies looking to make their next hire.
25. 2. Decide between structured or unstructured
ï Job interviews can be divided into two types: structured and
unstructured. In a structured interview, the hiring manager or recruiter
has written down exactly what to ask, how to ask it, and what kind of
response theyâre looking for.
ï An unstructured interview is the opposite: the interviewer doesnât have
a set-in-stone list of questions. Instead, they let things flow organically,
more like a conversation than a job interview.
ï A word of warning: while the unstructured format might seem like the
one that would get a candidate away from rehearsed answers, it actually
ends up revealing less, according to professor Julie McCarthy of the
University of Torontoâs Rotman School of Management. âAs much as we
like to think that weâre very accurate in assessing people with our gut
feeling, the data suggests that itâs completely inaccurate,â she says.
âWith unstructured interviews, their predictive capacity is very low
26. 3) Choose your question style(s)-There is no shortage of interview questions to choose from, but
knowing the benefits and challenges of each type can help you mix-and-match accordingly. Here are four
of the most common question styles:
ï Behavioural-As weâve mentioned before, this type of question is designed to uncover insights
beyond technical skills. It is based on the idea that past behaviour will be a good predictor of future
prowess, so the questions are aimed at eliciting real examples from the candidateâs past â for example,
âtell me about a specific situation when you had to go above and beyond your call of duty in order to
get a job done.âHowever, behavioural interviewing isnât perfect. âIf theyâve done their research and
know what youâre expecting to hear, they can tailor their answers in that way,â says Fochuk. âPeople
can practise for it and tell you what you want to hear, rather than being truthful.â
ï Competency-In a competency-based interview, you focus on the candidateâs job-related skills. For
example, if youâre hiring a developer, you would test their abilities with key software. The
disadvantage of this type of question is that itâs very uncompromising. If the candidate is lacking in
any of the skills, it can put them in the ânoâ column before they get a chance to showcase their
strengths.
ï Case study-With this type of question, candidates are given a case study and asked to analyze and
solve it on the spot. Depending on the details of the case study, it can be a great way to get the
candidate away from their rehearsed answers and show their problem solving abilities in real time.
However, itâs important to choose a case study carefully â otherwise it can just be an irrelevant time-
waster. âCase studies should only be used if a certain case study has been found to predict later
performance, and is relevant to the job in question,â says McCarthy.