...Running head: METHODS OF RECRUITMENT Pros and Cons of Recruitment Methods Submitted by: Student ID: Tutor’s Name: Date: * Abstract Organization’s most vital resource is its people. Organizations having right individuals with right skills or abilities for the right position create the difference in between organization who is being successful or who is unsuccessful. From the above concept it can be found that recruitment is an essential aspect in any organization. This research will talk about both advantages and disadvantage of internal and external methods of recruitment. The article will deeply analyze the both sides of methods as organizations today recruit in two distinct ways i.e. Internal Method and External Method. Obviously, organization can use both of the methods of recruitment, but this happens mostly in the case for recruiting senior management. We will first start with the introduction where we will provide the concise and clear view of the topic and it will also cover the purpose, background of the selected topic. Under the heading of literature review we will critically analyze the advantages as well as disadvantages of the recruitment methods. We also will provide the review on planning used by Human resource department while recruiting the employees. In the end, the conclusion will sum up all the research done related to recruitment methods. Saying this, that research will conclude that both methods are adapted in this competitive world of business...
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...1.0 ORGANIZATION OVERVIEW 1.1 .History of the company: Banglalink is the second biggest telecommunication service provider in the local market of Bangladesh. Banglalink has a subscriber base of 7.88 million. It is a wholly owned subsidiary of OrascomTelecom. Banglalink had 1.03 million connections. The number of Banglalink users increased by more than 253 per cent and stood at 3.64 million at the end of 2006 and ended 2007 | Orascom Telecom Bangladesh Ltd | Year Founded | November , 1996 | Headquarters | Tiger House Gulshan Avenue, Gulshan Model Town , Dhaka | Industry | Telecommunication | Products/services | Telephony , GPRS | Patent | Orascom | Slogan used for business | Making a difference | Website | http://www.banglalinkgsm.com | at 7.1 million connection base, making it one of the growing operator’s .Bangladesh has the lowest telephone penetration rates in the world and even in South Asia. Basing our findings on to a report by the International Telecommunication union (ITU), only 1.56 among 100people of Bangladesh own telecom facilities. When Banglalink entered the Bangladesh telecom industry in February 2005, the scenario changed with mobile becoming useful and affordable communication tool for people. In a year of operation, Banglalink became the fastest growing mobile operator of the country with a growth rate of 257 percent. This was achieved with innovative and attractive products and services targeting the different market segments;...
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...also be applied. The Organisation: Suncorp Metway Insurance (Suncorp) is an international organisation with numerous operations throughout Australia and New Zealand. Operating within an increasingly competitive market, Suncorp has taken steps to ensure its competitive advantage is maintained through a strong emphasis on customer service and cost efficiency. In addition to its market reputation of reliability and being an insurer of choice, the Company has sought to sustain a career orientated workforce, and thereby uphold its commitment to customer service through employee experience and expertise. As discussed in the Organisational Analysis [Appendix 1], one of the key selling points used to attract external candidates to Suncorp is its emphasis on internal recruitment and promotion. Historically, many vacancies within the organisation have in fact been advertised internally prior to being released to the open market. Further supported by the overall Company culture, Suncorp stated in its Annual Report that it is a combination of 'shared human values and culture' that forms the foundation of the organisation; intrinsically linking...
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...(company which was focused on building up its investment banking and M&A Advisory services). SG Cowen’s activity is focused on emerging growth companies especially in two risky but highly profitable areas: health care and technology. For the success of that business, SG Cowen needs talented, committed and strong cultural fit employees. This report has the goal to describe and evaluate the hiring process of that company and also the criteria that is used to decide among the candidates. In the end, based on the criteria used by the company, we’ll decide which two candidates (out of four) we would decide to hire for SG Cowen. 1. Hiring Process & Evaluation The hiring process for a new class of associates begins in fall and consists of internal and external hiring. 1. Internal Recruitment: a. Those employed as analysts and promoted to first-year associates at the end of their third year (without business school education), or b. Those starting out as interns in the summer and then being offered full time employment after graduation 2. External Recruitment: The hiring strategy focused on “core business schools”. However, Chip Rae, the director of recruiting at SG Cowen, has a different strategy when choosing the “core business school” comparing with what SG Cowen was doing in the past: Instead of going only to the top 10 business schools and getting people from the middle of the class, SG Cowen started looking for the next 15 business schools in the top...
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...Running head: RECOMMENDATION BRIEF FOR AN INTERNAL ACCOUNTANT Recommendation Brief for an Internal Accountant Claudia I. Hernandez University of Phoenix Recommendation Brief for an Internal Accountant When a company is experiencing difficulty controlling their accounting functions, hiring an internal auditor will alleviate some of the problems. Internal auditing helps companies to look at ways to improve and achieve short-term and long-term objectives. Internal auditors are hired to perform internal audits that look at a company’s operations, investigating fraud, financial reporting, safeguarding assets, and compliance of the laws and regulations set for companies. The internal auditors are employed to improve a company’s internal controls. Effective working internal controls detect and prevent fraud that is tested by internal auditors. A company must evaluate the experience and educational background of a potential internal auditor before making a decision to ensure the auditor is capable of meeting the company’s needs. Justifying the benefits of using an internal auditor Operational auditing is perhaps the most beneficial use of an internal auditor for a company experiencing difficulty controlling accounting functions. Operational auditing focuses on making recommendations on efficient use of resources, achievement of business objectives, and compliance with company policies (Louwers, Ramsay, Sinason, & Strawser, 2007) An operational audit gives you a three...
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...A Case Study on Internal or External Recruiting 1. Objectives of the Case Study The number of managerial positions is limited in most organizations, and employers fill those limited positions with either internal hires or external recruits. This external-versus internal- hiring decision is important, because managerial capability is a critical determinant of the profitability of an organization. In this case study of Powernet, our objectives are to: * Analyse the issues related to recruitment in Powernet Inc. * Make recommendation in order to face the coming up situation with the retirement of middle management employees. 2. Document Review 2.1. Industrial Organizational Psychology Industrial and organizational psychology is the scientific study of human behavior in the workplace. I-O psychologists contribute to an organization's success by improving the performance, satisfaction, safety, health and well-being of its employees. An I–O psychologist conducts research on employee behaviors and attitudes, and how these can be improved through hiring practices, training programs, feedback, and management systems. I–O psychologists also help organizations transition among periods of change and development. 2.2. Key areas of I/O Psychology * Training & Development * Employee Selection * Ergonomics * Performance Management * Work Life * Organizational Development 2.3. Various branches in Psychology * Abnormal Psychology ...
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...historical view between stores. Business Strategy and Goals Tanglewood’s business strategy or niche has been an outdoor theme while expanding to furniture, clothing, and equipment and now they are planning to focus on competitor ideas. These would include food and having its own store products. All mission statements are similar and focus is mainly on providing employees with an open discussion work force. Hiring is done within with no qualifications needed for management and no particular focus on training requirements and employee planning. Westward expansion is keeping the business running but the company can possibly improve sales by expanding to the east. This would enhance sales during different seasons and expand products for those timeframes. Acquire or Develop Talent The three biggest categories when looking at strategic staffing are acquire or develop talent, hire or retain and hire external or internal. From Tanglewood’s perspective it needs to use all of these techniques. A mixture of hiring and developing current talent is the best solution for...
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...February 19, 2013 Re: Need for internal managerial accountant Dear Chief Executive Officer, This is a memo that will state the reasons why and benefits of hiring another managerial accountant. As we all know, the significance of a trustworthy accounting department is essential in any business. Accounting is specifically the most important department of a business for the simple fact that it deals with the company’s money statuses. This includes where a business can and can’t go financially and what it has and has not accomplished in terms of financial objectives. It is essential that a business have a strong internal accounting system because it can mean monetary success or failure. An internal accounting system includes the maintenance of the company’s finances in terms of short as well as long-term goals, strategy formulation for revenue, operational direction and control of the company’s finances, and the organization of resources and assets aligned with the desired budget within the company. All of these duties will be separated and given specifically to the new internal accounting manager. It is desired that a position be made specifically for these duties because of the importance in the company’s finances. One can not get too overwhelmed with other aspects and/or factors within the company to make mistakes or over or under budget the company. There should be a main focus so there are no unanalyzed risks involved. (Wild and Shaw, 2012). Hiring another managerial accountant...
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...Tanglewood Case 1 Dear: Daryl Perrone, My name is Andreina Polanco I am an external consultant for staffing services. Below please find my recommendations of where Tanglewood should position itself along the continuum: 1. Acquire vs. Develop talent- In my opinion Developing talent is a better strategy for Tanglewood than acquiring talent for many reasons. First Acquiring talent from other companies costs more money. Employees who are new to working in retail can start fresh and learn everything and be molded in Tanglewood’s way. This can also help in any problems with workers about how things should be done, because they have learned it another way in retail store. Tanglewood encourages employees to give their suggestions or their ideas in how Tanglewood can become a better company.. 2. Hire yourself vs. Outsource- Tanglewood should not encourage outsource consultants because of their lack in actual experience with the company. Tanglewood needs employees who have knowledge of the company. Hiring within the company can be advantage because the person will be familiar with the company’s decision making. Even thou there are several advantages for hiring an out source, for a example a new person can bring a new plan, new technique or a new opinion that can improve the company. 3. External vs. Internal- Internal hiring is a better strategy for Tanglewood than external hiring. This allows everyone to start at the bottom as an associate and to work their way up in the company...
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...Tyler Curto Professor S Effective Hiring 14 February 2016 Tanglewood Case 2 Analysis 1. Currently the organization expects that their forecast for labor requirements is essentially constant from the previous year. Based on this assumption complete the five stages of the planning process: a. Currently the organization expects that their forecast for labor requirements is essentially constant from the previous year. This means the forecast for next year will be taken as given. b. Fill in the empty cells in the forecast of labor availabilities in Table 1.1. Forecast of availabilities Next year (projected) 1 2 3 4 5 exit Current workforce Stores Associates 8500 4505 510 0 0 0 3485 Shift Leader 1200 0 600 192 0 0 408 Department Manager 850 0 0 493 102 0 255 Assistant Store Manager 150 0 0 9 69 12 60 Store Manager 50 0 0 0 0 33 17 c. Conduct an environmental scan. Based on the environmental data, what factors in the environment suggest Tanglewood might have difficulty filling their vacancies in the future? . After conducting an environmental scan, there are several factors that suggest Tanglewood might have difficulty filling their vacancies in the future. The first is that recent college graduates have little desire to work in retail. The long hours, low pay, and frequent conflict...
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...development of workplace policies, compensation and benefits administration, retention, training and development, and dealing with laws affecting employment and worker protection. The function of staffing focuses the acquisition, deployment, and retention of the organization’s workforce, and according to Heneman, Judge, & John D. Kammeyer-Mueller, (2012, p. 6) is “arguably the most critical function underlying organizational effectiveness, because “the people make the place,” because labor costs are often the highest organizational cost, and because poor hiring decisions are not easily undone”. Thus, the primary purpose of this paper is to discuss (a) what comprises a job description, the planning that goes into defining a job, (b) advantages of external recruiting, and (c) discuss which recruiting methods organization’s with low turnover rates prefer. Keywords: Job description, recruiting methods and external recruiting advantages Assignment Week 4: Recruitment and Staffing Define what comprises a job description, and what planning must go into defining a job? Heneman, Judge, & John D. Kammeyer-Mueller, (2012, p. 164) state that while there is not an industry standard format for job descriptions, it should include the following: “job family, job title, job summary, task statements and dimensions, importance indicators, job context indicators, and the date that the job analysis was conducted”. The job family is the function or series that a job may fall into...
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...Tanglewood Case 1 02/17/2015 Tanglewood is in need of an update to their human resource functions. As the company has grown, they have found that their human resource system may be archaic. Tanglewood is in need of a new plan that will be modern but will still match their mission statement that they set out to follow even in modern times. Tanglewood's mission is: “Tanglewood will be the best department store for customers seeking quality, durability, and value for all aspects of their lives. We are committed as a company to providing maximum value to our customers, shareholders, and employees. We will accomplish this goal by adhering to the core values of responsible financial management, clear and honest communication, and always keeping performance and customer service in the forefront.” By reading the case, Tanglewood strongly values customer service. Tanglewood believes in the customer experience and face-to-face interactions. Tanglewood believes that the online ordering portal is an extension of the brick-and mortar store not a replacement. The physical stores are their competitive advantage. In-store sales build long-term relationships with customers. Tanglewood is likely to benefit from highly customer orientated individuals. Tanglewood does not view their online sales as a competitive advantage. Tanglewood believes that their store experience will continue to bring customers back on a continual basis. In order for Tanglewood to uphold this philosophy, they...
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...building brand awareness or enhancing existing marketing and promotional programs. Some companies plan to sell products, services, and advertising, whereas others establish online auctions or create virtual communities and Web portals. Other common organizational objectives are related to purchasing functions and supply chain management, as well as improving after-sale support services. No matter which set of strategic objectives an organization selects for its electronic commerce initiative, the cost objectives must be identified and matched against both alternatives and benefits. A project budget is frequently used to make this kind of analysis. In addition to hardware and software costs, the project budget must include the cost of hiring, training, and...
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...308 CHAPTER 1 The Role of Human Resources What Is HRM? Human resource management is the process of employing people, training them, compensating them, developing policies relating to the workplace, and developing strategies to retain employees. The Role of HRM There are seven main responsibilities of HRM managers: staffing, setting policies, compensation and benefits, retention, training, employment laws, and worker protection. In addition to being concerned with the seven internal aspects, HRM managers must keep up to date with changes in the external environment that may impact their employees. The trends toward flexible schedules and telecommuting are examples of external aspects. To effectively understand how the external forces might affect human resources, it is important for the HR manager to read the HR literature, attend conferences, and utilize other ways to stay up to date with new laws, trends, and policies. SKILLS NEEDED FOR HRM Ethics is perhaps one of the most important aspects to being a great HR professional. There are a number of skills crucial to human resource management. First, being able to organize and multitask is necessary. In this job, files must be managed, and an HR manager is constantly working in different areas of the business. Communication skills are necessary in HRM as well. The ability to present good and bad news, work with a variety of personalities, and coach employees is important in HRM. Specific job skills, such as computer...
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...Executive Summary Tanglewood Stores has to determine how to successfully fulfill its future staffing needs. The decentralization of various job functions has worked negatively for the company. Decentralization has caused the costs of job functions to increase because job functions have to be duplicated at various locations rather than having it at one central location. The HR strategy that will be implemented to achieve success will have a significant impact on the organization. A particular point of interest for any organization is whether to hire internally or externally. Internal hires have the advantage of having extensive prior knowledge about the organization. By comparison, external hires do not have as much knowledge about the organization but they can bring knowledge and skills that would otherwise be hard find elsewhere. Placing employees into management positions based on their level of loyalty to the company does not guarantee that the person chosen is the best candidate. Individual employee characteristics must be aligned with organizational goals and objectives. The organization needs to look at innovative methods to restructure itself, in particular its HR. Job fairs are a great way to reach a large audience face to face. Additionally, the competitive strategy of the company should be modified to deal with its competitors head on. Identification of the Problem Tanglewood is a chain of retail stores that feature items such as appliances, clothing, electronics...
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