Aim:

For high-growth organizations, attracting, hiring, and retaining the right talent is critical. Add the right players to your team, and you have a key source of competitive advantage. Attract the wrong talent and you will have a hard time reaching your strategic goals and objectives. “Hire the wrong person…who is not able to fit into an organization…will leave, resulting in a high attrition rate.” “Hire a person… give them the wrong information… or misrepresent company policies and procedure and you won’t even know the damage you’ve done to the organizations ‘public image’.”

Introduction

More than anyone in the Human Resources Department, the responsibility falls on the “Recruitment Specialist”, it is like the advertising manager of “companies”.

You must be well versed in the “Business” of the company, its strategies and policies.

It is up to him to stay up to date with the latest skill sets available on the market.

It is up to him to “keep up” with the organization’s “business competitors.” Even the responsibility of “retaining people” falls on the “Recruitment Specialist”.

It is up to them to find out if the “person” will be able to fit into the “culture” of the organization.

4 P’s of Recruitment

Product

What positions are you trying to fill? What do you have to offer potential candidates? Who else is trying to hire similar candidates, and how can you gain a competitive advantage?

Price

How much are you willing to pay for high-quality candidates (eg, salary and benefits, other costs associated with the hiring process)? Is this more or less than your competition?

person

What is your target market? Who are you trying to hire? What skills are needed for the jobs you have to cover? Are these powers valid? What is the ideal candidate like?

Promotion

Where can your ideal candidates be found? How will you inform these candidates about your job openings and encourage them to apply? What resources can you use to generate a diverse pool of candidates?

Looking for the “Right” profile

1. Networking: developing relationships with institutions that have direct or indirect access to culturally diverse candidates

2. Internet: Searching web databases, placing ads on various career sites targeting a wide range of people, attending online career chats

3. Resume Services: Purchase a package of resumes that match your identified hiring criteria and contain a significant level of diversity.

4. Direct Mail Campaign – Systematic mailing of recruiting materials to culturally diverse individuals who meet your hiring criteria and organizations that have access to such individuals.

5. Job Fairs: Participate in job and career fairs that cater to culturally diverse job seekers.

6. Newspaper/Newspaper Advertising: Placing job advertisements in newspapers that cater to culturally diverse individuals.

7. Radio and television advertising: placing job advertisements on programs that serve culturally diverse individuals.

8. Professional Associations: Be active in a professional association that serves underrepresented members of a particular profession.

Recruitment: Return on Investment (ROI)

Recruitment return on investment (ROI) understands and compares the elements, costs and risks of a recruitment-related project with the expected benefits, for example; recruitment technology, implementation of recruitment centers or process reengineering.

Recruitment ROI can help build a business case for organizational decision makers to evaluate the benefits and estimated return on investment for improving an organization’s recruiting function.

In summary, the recruiting ROI process would address the following:

1. Tangible and intangible benefits to the organization, including higher quality and savings in time and money through implementation

2. Estimated cost of services and associated technology

3. Investment / amortization period of the contracting project

4. Problems and costs associated with not continuing with the recruitment project

Measuring the effectiveness of the recruitment process

Data collection and calculation of proportions is only the first step. Metrics are a tool for a broader analysis of your recruiting effectiveness.

Metrics don’t just mean time and cost. It’s about finding every transaction point with a candidate and tracking it from a time and cost perspective: every activity that brings a candidate into the process and the path that leads the candidate to an accepted offer.

Hiring metrics measure the effectiveness of the hiring function. These metrics provide valuable and relevant information to business stakeholders. Its purpose and benefits are:

1. Demonstrate the real value of the recruiting function

2. Gain buy-in from business decision makers to invest and optimize the hiring function

3. Provide an accurate picture of current costs and results

4. Demonstrate changes and impacts on the organization over time

5. Establish shared responsibility between the Recruitment Center, Hiring Managers and/or business units

6. Manage costs

7.Analyze productivity

8. Assist in risk identification and assessment

A good recruiting specialist should be able to answer the following questions:

A. How much time and how much does your administrative staff spend opening, responding to, and sending out resumes to the hiring team? The best way to do this is to calculate an average cost per resume and keep track of how many resumes you receive for each job so that you can calculate the administrative cost per job.

B. How much time does your hiring/recruiter team spend reviewing resumes? This can also be an average cost per resume received for the job.

C. If your organization conducts preliminary telephone interviews, how many were conducted and how much time did the recruiter spend preparing, conducting, summarizing, and communicating the results of those interviews?

D. Do you have an automated applicant tracking program? This is an indirect cost that you can choose to apportion between your hires over a specified period of time, much like depreciating a new computer on your taxes.

E. Did your recruiting team or the interviewee incur company-funded travel expenses?

F. How much time was spent scheduling interviews?

G. How many staff members participated in the interviews? How long per interview? How many interviews? What is the average cost of interviewers’ time?

H. How long and what was the cost to follow up on candidates during negotiations and to notify those who were not hired?

I. What was the cost of referral fees from a recruitment agency or referral of an employee?

J. What costs will the company pay for the relocation of the new employee? Some costs may include moving company, airline tickets, hotel accommodations, temporary housing, home search visits, sales/purchase assistance, or spousal/dependent assistance.

K. What was the cost of background investigations and/or reference checks? Drug tests?

L. If there was a signing bonus, how much was it?

M. What costs does the company typically incur to bring someone on board: orientation, mentoring, benefits enrollment, computers, cell phones, uniforms, etc.?

N. How long did it take to fill the position from inception to date of hire? What could you have done to reduce the time to hire and not have affected the quality of the hire?

O. What was the impact on productivity while the position was vacant? This is a very difficult calculation to perform, especially depending on the position. However, it does have an impact on the hiring manager and the organization as a whole. If it can’t be quantified, at least keep that in mind.

Q. How satisfied was the hiring manager/organization with the hire? This evaluation can be done post-hire, but should be repeated 3-6 months after the employee has been on the job to get a true idea of ​​the success of the hire.

Recruitment Specialist Calculations

Hiring Cost:

(Cost per hire is a calculation you can use anytime you’re hiring. Let’s say you’re a consulting firm bidding on a large project. Cost per hire can help you estimate the costs associated with adding new positions as part of the contract award for the new project.)

Costs Related to a New Hire

[Advertising + Agency Fees + Employee Referrals + Travel + Relocation + Recruiter Pay & Benefits] /Number of Contracts

Turnover cost:

Costs incurred when an employee leaves the organization

Termination Cost + Hire Cost + Vacancy Cost + Loss of Learning Curve

(Note: Termination cost includes severance, unemployment, exit interviews, legal fees, temporary replacements, etc.)

Turnover rate:

Measures the dropout rate of an organization’s employees.

[No. of Separations During Month ÷ Average No. of Employees During the Month] x100

(Note: Define which employee status you will monitor. For example, it might not make sense to monitor temporary employees. It could skew your full-time staff’s statistics and lead you to false conclusions. Consider doing a job-specific assessment.) analysis)

Time to fill:

Number of days from job application approval to new hire start date

Total days to fill applications/Number contracted

Conclusion

For a recruiter to be efficient and effective, there is a lot to do. They can play an important role in “Organizational Transformation” as long as they are “true and fair” in their dealings. I also mentioned in one of my “previous articles” that “recruitment professionals” are corrupt, there is a good and a bad side to every profession, the only thing that matters is how true you are to yourself and your integrity.

I will be attentive to your comments and opinions.

Feel free to shoot any questions related to this article.

Stay in touch and take care