Essentials of Investments
9th EditionAlan J. Marcus, Alex Kane, Zvi Bodie
689 solutions
Statistics for Business and Economics
13th EditionDavid R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams
1,691 solutions
Century 21 Accounting: General Journal
11th EditionClaudia Bienias Gilbertson, Debra Gentene, Mark W Lehman
1,009 solutions
Fundamentals of Financial Management
14th EditionEugene F. Brigham, Joel F Houston
845 solutions
legislation [e.g., human rights, employment standards, privacy]• global competition [e.g., repatriation, cultural diversity]• rapid advances in information technology [e.g., HRIS and online recruitment]• changing work force demographics [e.g., Gen X, higher expectations]
• knowledge, skills, and abilities available in the labour market [e.g., shortages in health-care professions]
Costs• hiring a
consultant or providing training using an internal recruiter• providing job analysis or position description• establishing job performance criteria• undertaking organizational analysis• doing human resource planning• considering legal and ethical issues• reviewing the labour market, and understanding and locating the target audience• filling a position temporarily [if required]
• adding administration tasks [e.g., employee requisitions, use of facilities, arranging time and travel to
interviews, paper, computers, telephone, forms]
• maintaining company Web page career site• developing human resource information systems and technical support• developing a recruitment strategy
• dealing with recruitment constraints [e.g., legal environment, costs, business plan, job level and type, international assignment]
• screening applicants [e.g., application forms, résumés, work samples or simulations, testing]
• preparing assessment tools, such as job knowledge interview
questions, case study/incidents, job and workplace walk-through, computer-based assessment, role-play, business games, demonstration of skill, oral or written presentation, graphic representation• undertaking job advertisements and recruitment procedures using, for example, executive search firm, online recruiters, national newspaper, professional associations, private employment agencies, succession planning, campus fairs
• undertaking applicant reviews, short listing, and reference
checks
• communicating and sharing accurate organization and job information [e.g., through annual reports, career profiles, organizational charts, news articles]
• creating realistic job previews and probationary reviews• following up with all applicants• establishing and utilizing a selection committee• interviewing• carrying out orientation, socialization, mentoring, and training• providing evaluation• paying lost opportunity costs [e.g., lower productivity, lost profits, lost
clients]
• dealing with negative effects on morale and decreased productivity due to poor staffing processes• developing and monitoring international assignments [expatriate cross-cultural and language training and relocation costs]• developing a diverse work force [e.g., with generational and cultural differences]• dealing with a wrong hire and turnover within the first year• paying termination and severance costs, legal fees, financial and career transition consultants' fees• paying legal
expenses [e.g., contracts]• paying employee referral bonuses
Benefits• increased number of applicants attracted per method• reduced time required to get applicants• reduced costs per applicant attracted• increased ratio of qualified to unqualified new employees• reduced time from start to hiring of applicant
• increased yield ratio [the percentage of applicants from a staffing source who make it to the next stage of the staffing process]
• reduced turnover of hires
• improved
performance of new hires, which involves tracking the performance and behavioural outcomes of individuals hired• improved attitudes about the organization and position [e.g., measurable job satisfaction, engagement, and commitment]
• increased effectiveness of method
• improved outcomes of hiring process, with evidence provided [e.g., by exit interviews and surveys]
• reduced combined costs of recruitment and selection [i.e., all costs divided by total hires]• improved retention•
achievement of human resource planning goals• improved number and quality of applications received• improved outcomes from various recruitment events• improved skill and motivation among new employees
a. Globalization
∙ Half of Canadian exports come from foreign markets, so the country is vulnerable.∙ Globalization increases the level of competition for customers as well as employees.
b. Technology
∙ Advances in technology reduce the need for labour
in some industries.∙ Technology has changed the way applicants apply for jobs. Online applications have replaced traditional hard copy methods.∙ Technology changes the recruitment and selection of individuals [e.g., through the use of search engines, employment testing, résumé matching, and the tracking of applicants and employees].
c. Demographics
∙ The ratio of men to women in the work force is almost at par, which gives more visibility to women, although their wages are still
approximately at 70 percent of men's.∙ The number of baby boomers heading for retirement is increasing and this is leaving a large gap that is not being met with younger employees; families are also having fewer children.
d. Unionization
∙ Although unionization as a percentage of the work force is decreasing, with less than 30 percent of the work force belonging to unions, the number of workers in professional unions is increasing.∙ Public service employees are highly unionized at about 70
percent.∙ Unions have artificially increased wages beyond what is acceptable, and there are many instances where companies close their doors in one place and later relocate in a non-unionized environment.
e. Economic context
∙ The global recession of 2008 had serious consequences around the world, including job loss, salary and benefit reductions, hiring freezes, and downsizing.∙ In labour oversupply situations, employers must focus more on the selection of applicants as opposed to the
recruitment of them.∙ Best practices need to be developed for companies to survive in the new economy where the r
Ethics is defined as the determination of right and wrong, the standards of appropriate conduct or behaviour for members of a profession, or what those members may or may not do.All professionals must adhere to a code of ethics that dictates standards of performance. In all codes, members are required to obey the laws of the country, avoid conflicts of interest, and remain current in their fields of expertise. Ethical codes outline other obligations that their members have to clients, management, and workers, as well as to the larger society. HR ethical codes place constraints on what their members may and may not do when practising human resource management, including recruitment and selection.There are many ethical issues that HR professionals will face when involved in recruitment and selection [e.g., equity, confidentiality].