...to bring products to market, resulting in lost competitive advantage. The cost of goods sold is also higher, as the company has to contend with lower productivity Having made the wrong hiring decision, a company may seek to cut its ongoing losses by replacing the worker. Replacement costs, including sourcing costs, administrative and processing costs, and lost productivity for the hiring manager, all become part of the cost of a bad hire. The cost of a bad hire for a software engineer can exceed mil- lions of dollars, while the wrong choice of a CEO may result in the loss of billions of dollars of shareholder value. Bad hires produce damaging results that can be calculated as the sum of these direct and indirect costs: Productivity loss Loss of customers Loss of brand equity Legal liability Separation costs Replacement costs How to measure QOH Measuring quality of hire amounts to measuring how the candidate varies from pre-hire requirements and expectations. The comparison between pre-hire requirements and the new hire’s actual performance on the job may be made in one of several ways: surveying the hiring manager; consulting annual performance reviews; or measuring worker productivity and tenure directly. Hiring Manager Survey a straightforward measure of quality of hire is to ask...
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...Chapter 6 Selecting and Hiring Salespeople In this chapter, we found that employers have no choice about hiring people. What they can do is they can choose the method they use to selecting the employees. In previous chapter which is chapter 15, we already discussed on the process by which we determine the number and type of sales people needed, and also how to recruit applicants. In this chapter we are in the third phase which is selection. This phase involved of developing a system of tools and procedures for matching the applicants with the predetermined requirements and actually using this system to select the salespeople. There are some major tools in the selection, they are application blanks, personal interviews, psychological tests, references and credit reports and the last tool is assessment centers. This chapter also discuss about the fourth phase of staffing process which is hiring and also the final phase, which is assimilating new hires into the company. The figure below shows the tools on selecting salespeople. In this chapter, the processing applicants are a key activity in implementing a company’s strategy planning. When using the any of the selecting tools, manager has to make certain that it is complying with all pertinent laws and regulatory guidelines. The application blank and the personal interview are the two most widely used selection tools. A short application blank may be used as an initial screening device. A longer application blank is a primary...
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...PRACTICES IN SALES MANAGEMENT A Resource Guide for Sales Managers BEST PRACTICES IN SALES MANAGEMENT A Resource Guide for Sales Managers Over the course of my career, I’ve had the privilege of personally working with several great sales managers and also seeing many examples of effective sales leadership in our client organizations. I’ve seen the impact that a great sales manager can have on an organization, and I’ve also seen how quickly a corporate strategy can fall apart without this vital leadership. Sales management may be one of the most critical roles that influence the success of an organization. You are closest to two important corporate assets: customers and the sales team. The impact of an effective sales manager can be felt throughout an organization. Unfortunately, the same holds true for those whose attempts are not meeting expectations. It’s challenging. The responsibilities of this role are to execute against a defined strategy and produce results that have been defined by executives who are often many levels above them. But it is also rewarding. It is the sales manager who is both the coach and cheerleader for the revenue engine that will determine if a company makes it to the finish line or falls short. As you build tenure in a sales management role, you will also build a toolbox of resources to help you fulfill those obligations. As the recognized global leader in delivering sales performance solutions, we’ve compiled this Sales Management...
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...consistently look for talented individuals and make them a part of the organization who can contribute to the growth. The process of selection is a very painstaking process that requires rigorous research and hunting, only then the right individuals is selected. The importance of quality employees is essential for the success of an organization. The real worth of Human Capital has only been truly recognized over the past decade or so, since then all the well-to-do firms have started investing heavily in it. The process of selecting new recruits is a vital function in its own, where a wrong decision can turn out to be a disaster for the organization. The ultimate goal of selection is to obtain the most suitable candidate for the position in question. As mentioned earlier, the importance of human capital has been truly realized just recently, therefore in this new era of technology HRM has also come of age. There are countless solutions and softwares being developed on continuous basis to facilitate recruiters in selecting the best possible candidates for any desired positions. Almost all the professionally sound firms conduct thorough analysis and recruitment tests for new candidates. With the competition getting stringent by the day, the development of technology has enabled firms to keep themselves aligned with the competition on the Human Resource front. For selection of new candidates every firm have their own unique criterions, but some factors stay universal with all the firms...
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...Recruitment of a Star Introduction The case is based on Stephen Connor, director of research at the New York investment banking firm of Rubin, Stern, and Hertz (RSH) who is facing a delima of recruiting a Semiconductor analyst in place of the star analyst who recently quit his job. The issue needs immediate attention because of an upcoming deal with the PowerChip company which requires an expert level analyst Rubin, Stern and Hertz(RSH), an investment banking firm based in New York, is faced with the problem of hiring a replacement for their star semi-conductor analyst, Peter Thomson. Star analysts willing to shift companies are difficult to find in the present market scenario. But Stephen Connor, director of research at the firm, with the help of Craig Robertson, a head-hunter at Triple S, has managed to shortlist 3 worthy candidates with diverse profiles. Stephen was also approached by Anita Armstrong on behalf of a fourth candidate, Seth Horkum.RSH is strong in its Research Division, where Stephen Connor, director of RSH, was worried over the departure of a star analyst performer in its semi – conductor area also on may note that RSH’s culture was built on team-oriented approach and Employee turnover was low. The Star semi-conductor analyst Peter has retired. The post is urgently in need of skilled analyst in the domain because of an upcoming deal with POWERCHIP Company.The junior analyst, Rina was promoted to senior analyst as a stop-gap solution. But the Director had...
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...301 BEST QUESTIONS TO ASK ON YOUR INTERVIEW SECOND EDITION JOHN KADOR New York Chicago San Francisco Lisbon London Madrid Mexico City Milan New Delhi San Juan Seoul Singapore Sydney Toronto Copyright © 2010 by John Kador. All rights reserved. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher. ISBN: 978-0-07-174128-6 MHID: 0-07-174128-3 The material in this eBook also appears in the print version of this title: ISBN: 978-0-07-173888-0, MHID: 0-07-173888-6. All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. To contact a representative please e-mail us at bulsales@mcgrawhill.com. TERMS OF USE This is a copyrighted work and The McGraw-Hill Companies, Inc. (“McGraw-Hill”) and its licensors reserve all rights in and to the work. Use of this work is subject to these terms. Except as permitted under the Copyright Act of...
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...Hills Illinois. The company employs around 85 employees through the United Sates, Korea, and Europe, with the majority of them in the United States. The company added a significant amount of employees after it was acquired by a venture capitalist company in late 2009. PHSI started as a small company in Sandpoint Idaho, in early 1999 with 3 employees two of them are the owners of the company. The company started as the distributer of water machine filtration systems and grows to be the owner of the manufacturing company in Korea. After acquiring the manufacturing plant in Korea PHSI management decided to expand its business through a network of dealer to distribute its product throughout the United States without having the burden of a sales department, and PHSI role would be to support the dealer network through securing a financing source to buy the contracts off of the dealer hands and do the collections and cash management for them. This was not an easy task since the collateral was not of a significant value to the banks and PHSI had to guarantee the payments to the banks through a system called perfect pay. This agreement guarantee’s that the bank will withdraw the amounts being billed through a lockbox system, regardless of payments coming in from the customers. As the business grows, PHSI losses grip on the day to day operations and the owners have no accounting and finance department to manage the growing business or any kind of a managerial structure to support the...
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...Chapter 2: Strategy and Human Resources Planning If nothing else, my students should learn that… • It is important for HRM to align its policies and processes with the business strategy in order to provide value to the organization (external fit), and that the policies and processes are mutually reinforcing (internal fit). HR planning follows the same pattern as organizational strategic planning, and hence the two processes are complementary. • In order to evaluate the effectiveness of strategy, it is imperative to take the ‘people side’ into consideration. Sole reliance on financial documents (e.g., financial statements, cash flow statements, income statements) largely ignores investment in human capital. Learning objectives • Identify the advantages of integrating human resources planning and strategic planning. • Understand how an organization’s competitive environment influences its strategic planning. • Understand why it is important for an organization to do an internal resource analysis. • Describe the basic tools used for human resources forecasting. • Explain the linkages between competitive strategies and human resources. • Understand what is required for a firm to successfully implement a strategy. • Recognize the methods for assessing and measuring the effectiveness of a firm’s strategy. Why is this chapter important? The purpose of this chapter is to highlight the nexus of strategy and HR planning...
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...Comprehensive 17 Advanced Comprehensive Comments: Cases vary in difficulty. Please review each case to see if it fits your course and students. These guidelines may help you select cases for your course. For example, if you use teams, then one team could work on Case 1 and 2. If only one person does a case, then assign only Case 1. Team 1: Cases 1 and 2 7: Case 14 2: Cases 3 and 4 8: Case 15 3: Cases 6 and 7 9: Case 17 Advanced 4: Case 8 10: Case 18 Advanced 5: Case 9 11: Case 19 Advanced 6: Case 13 12: Case 20 Advanced Caution Instructors, Please Read This Caution Note about the Harvard Cases: Users of Sales Management: Teamwork, Leadership, and Technology have asked for several newer, advanced comprehensive cases. The Publisher has added four excellent Harvard cases for you. Caution is stated because the Harvard cases contain some issues that are not covered in this textbook, or are not covered to the extent students may like. If you assign these cases, students may need to go outside of this textbook for information. Both the instructor and students will need to devote much more time in analyzing the Harvard Cases, which are cases 14, 15, 16, and 17, than...
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...Instructors Manual Case Studies Table of Contents Introduction Shipper Manufacturing Company ………………………………............ C-2 FHE, Inc. ……………………………………………………………….. C-5 Early Supplier Integration in the Design of the Skid-Steer Loader……... C-9 Process Design Eastern Gear, Inc. ………………………………………………………. C-17 Southwest Airlines: Singin’ the (Jet) Blues …………………………….. C-21 The Field Service Division of DMI ……………………………………. C-29 Pharmacy Service Improvement at CVS (A) …………………………… C-36 U.S. Stroller …………………………………………………………….. C-37 Quality Customer-Driven Learning at Radisson Hotels Worldwide ……………. C-41 Quality at Gillette Argentina …………………………………………… C-46 Bayfield Mud Company ………………………………………………… C-47 Six Sigma at 3M, Inc. …………………………………………………... C-53 Capacity and Scheduling Crocs: Revolutionizing an Industry’s Supply Chain Model for Competitive Advantage …………………………………….. C-58 Unifine Richardson …………………………………………………….. C-59 eBags: Managing Growth ……………………………………………… C-60 Merriwell Bag Company ……………………………………………….. C-69 Lawn King, Inc. ………………………………………………………… C-74 World Industrial Abrasives ……………………………………………... C-84 Inventory Consolidated Electric …………………………………………………... C-88 Southern Toro Distributor, Inc. ………………………………………… C-93 ToysPlus, Inc. …………………………………………………………... C-99 SHIPPER MANUFACTURING COMPANY Teaching Notes Synopsis and Purpose Shipper Manufacturing Company is a manufacturer of electrical products, laminated materials...
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...Recruitment and Selection Recruitment is the process you go through for hiring a member of staff that you need to cover the skills gap you need. Selection is when you complete certain steps in finding the right candidate for the job and you select the right one. The main reasons why companies recruit is to cover a skills shortage that they require in their business or if someone is leaving to go and work for another business, therefore the position needs to be filled. A person being recruited for a vacancy may be need on a temporary or permanent basis depending on how that the employee is needed for. The may be needed full time or part time this all depends on how many hours they will be needed each week. The advantages and disadvantages of recruiting internally Advantages | Disadvantage | Cheap to advertise | Limited choice of candidates | All candidates known to the organisation | May cause problems among employees due to the change | Candidate also already know the organisation | Employers may be stuck in their ways | More likely to have smaller number of applicants | May not generate new ideas | Can encourage careers progression | The successful candidate will need to be replaced, needing a another recruitment plan | Internal recruitment means that the person recruited to do the job will be taken from inside the organisation. This type of recruitment will give current employees the chance for promotion or additional responsibility. Cofi Coo and Asda may decide...
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...1. What is the process used in developing a business plan? Research Detailed research into the industry, customers, competitors, and costs of the business begins the process. A variety of resources can be used for research, ranging from databases and articles to direct interviews with other entrepreneurs or potential customers. Research should be documented and organized carefully with the information gathered and the source as there is a need to cite sources within the plan. Strategize Next, the information from the research should inform the strategy you choose for your business. Revisit the strategy you created even before your research and dig deeper into decisions on appropriate marketing, operations, and hiring for the first five years of the company's life. Strategy generally pulls from the best practices of the industry, but uses this only as a foundation on which to add very different activities that create a competitive advantage. Calculate All of the activities you choose for your strategy come as some cost and (hopefully) lead to some revenues. Sketch out the financial situation by looking at whether you can expect revenues to cover all costs and leave room for profit in the long run. Begin to insert your financial assumptions and startup costs into a financial model which can produce a first year cash flow statement for you, giving you the best sense of the cash you will need on hand to fund your early operations. Draft With financials...
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...es acculpa dolecae. Re nes eum nescimos inci dolum venihilitem ius, aut earchic ideriss equam, omnim nonet voles est quaere reptas am fugiatiis et rempelibus alibus. Ommost od et ulpa quid et mo blaut odi testios et, officia sitaqua sperum ipid qui blandaecus aperum dit vidis vollenda nimporr ovitatem nonet accusdaeris et aut earchilique porent. Itat odis nulpa se proreni sinciae. Ent eatur, coria voluptation ex et estionet remporporum quid ma culpa quate mincil moloria ndaestrunt. Minctas mi, tesciis delesti stiorrorest modipic iusdaniata nobit et lamet eum fuga. At rerspid itempor as quunt ationet omniendipis vendios con nulluptur, si deles pos magnam incid quos delique essequam nes dendis sae poremqui dit occabora in est, nimuscitiore di omnimodit quatum voluptas acerupit invenim inienimet volorecabo. Nam, ni omnis min res experio. Et omnimil lestruptate in est, ium volupis delest lique lab illoritatus. Henihit atiorestia dolor sit perspel endignis quo mod mincit quist fugit inci qui rehenis repero mo voles management in practice Riassi dentiumquam, officiis aligenihita nossimint. For Certificate IV BSB41013 and Diploma BSB50613 ly volorrum rehent officabo. Corio maiore ni ullore quis et quaecepremo et on Lisimaxi magnihicit esciendit que eratem. Non eos ipsam quo to maximagnam human resource management in practice e ese ped eveliquis il mi, ommolup tatinis etur sequiscienis autaque earibus. pl alitior estrund emquodiatur...
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...when training a virtual team, or when speaking to a group of customers in an online meeting. Good public speaking skills are important in other areas of your life, as well. You might be asked to make a speech at a friend's wedding, give a eulogy for a loved one, or inspire a group of volunteers at a charity event. In short, being a good public speaker can enhance your reputation, boost your self-confidence , and open up countless opportunities. However, while good public speaking skills can open doors, poor speaking skills can close them. For example, your boss might decide against promoting you after sitting through a poorly-delivered presentation. You might lose a valuable new contract by failing to connect with a prospect during a sales pitch. Or you could make a poor impression with your new team, because you trip over your words and don't look people in the eye. Make sure that you learn how to speak well! Plan Appropriately First, make sure that you plan your communication appropriately. Use tools like the Rhetorical Triangle , Monroe's Motivated Sequence , and the 7Cs of Communication to think about how you'll structure what you're going to say. Practice There's a good reason that we say, "Practice makes perfect!" You simply cannot be a confident, compelling speaker without practice. Engage With Your Audience When you speak, try to engage your audience. This makes you...
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...objectives 4. Translate research objectives into research questions and/or research hypotheses 5. Outline the components of a research proposal 6. Construct tables as part of a research proposal CHAPTER 6 PROBLEM DEFINITION: THE FOUNDATION OF BUSINESS RESEARCH Chapter Vignette: Deland Trucking Has a “Recruitment” Problem David Deland, who has owned his trucking business for 20 years, struggles with the spreadsheet in front of him. His recruitment specialist sits glumly across from his desk, pondering what kind of response to give to the inevitable question, “Why are our recruitment costs so high?” Next to the specialist sits James Garrett, a business research consultant who has been hired by the Deland Trucking Company to get a handle on the recruitment expenses the company has seen skyrocket over the last six months. “I just don’t get it,” David sighs in frustration. “We have seen a 45 percent increase in our trucker recruitment advertising costs, and our trucker intake and orientation expenses are killing us! James, I just don’t understand what is happening here.” James and the specialist have had some initial discussions, but there is no easy way to reduce those costs without reducing the number of truckers that Deland hires. “Perhaps we can find a more efficient way of advertising our openings,” suggests the recruiting specialist. “Maybe we can reduce the number of orientation sessions or travel expenses associated with the hiring process.” David counters, “Well, I don’t see how...
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