Recruiting Methods and Metrics for Successful HR Strategies

Recruiting Methods

Recruiting Methods There are numerous methods for HR professionals to use social media and technology as a strategic tool to secure the top talent in today's recruiting world. HRM can benefit from sites like Linkedin, Facebook, Instagram, and Twitter. All of these sites enable employers to reach out and begin expanding their external talent pool in a timely and cost-effective manner (Lumen Learning, n.d.).

Aside from being cost effective, one of the benefits of using social media for recruiting is that it can be used to promote your company's success and culture while also attracting potential applicants who want to be a part of the image your firm projects on social media. Time consumption could be an issue, but more significantly, too many responses or interested applicants sending in resumes could make sorting through them more difficult (Human. (n.d.)).

Out of all the major social media sites, I feel that Linkedin provides HR professionals with the most effective means to acquire talent. I work in the medical device industry, and practically everyone I know has a Linkedin account and has been poached by another business or now works for my current employer as a result of being recruited on the platform. When you hear the term, most people think of it as a "professional Facebook,"

which is wonderful for Linkedin because it has developed a brand that business professionals and individuals in the workforce recognize and appreciate. I believe that this allows Linkedin to be the most effective platform for enterprises to use because it is a well-known brand and the site includes an algorithm-based candidate suggestion feature that would allow any company to rapidly and efficiently begin expanding their talent pool (Venkatramen, 2014).

Evaluation of Recruiting and Selection Processes Successful recruiting and selection processes enable firms to hire the best people and then place them in the most appropriate positions, as we've learned this week (Lumen Learning (n.d)). Metrics offer a variety of approaches for businesses to check that their recruiting and selection procedures are operating and succeeding. Time to hire, cost to hire, and early turnover rate are the three criteria that I believe are most important in recruiting.

The time to hire is particularly important since it measures how long it takes for a requisition to be opened and filled. The smaller the gap, the more likely it is that HR professionals already have people in mind and in their talent pool who would be ideal candidates for this position. If everything is done effectively on the backend, the time to hire should be greatly reduced compared to a company that has had an open requisition for four months. The cost to employ is an important measure because every organization wants to save money in any way they can. The cost to employ is estimated by multiplying the entire external and internal recruitment expenditures by the total number of hires (Vulpen, n.d.).

Benefits of Social Media Recruiting

As previously indicated in Part A, social media platforms like Linkedin can help a company save money on external recruitment. Finally, one of the most crucial variables that firms pay attention to is the early turnover rate. When an employee leaves within the first year of employment, it has a number of negative consequences for the organization. First, consider how much "cost to hire" was spent on this person, as well as how much more will be spent to replace him or her. Then there's the cost of training that was also squandered.

Companies with a high percentage of employees in this group should be alerted to the fact that they have an unsettling pattern and should investigate where the breakdown in the recruitment and selection process occurred.

Why aren't these employees remaining with the company? Are these not appropriate? This score indicates that something has to be changed in the onboarding process. References Human. (n.d.). Human resource management.

How can HRMs use metrics to measure the success of the recruiting and selection processes?

List 3 metrics that you view as most relevant. Explain your opinions. Be sure to include an expert's ideas (with proper citations) to support your argument. Metrics are normally used in each HR functional area. The metrics are important as they provide the basis for analysis. For instance, through the application of statistical techniques, trending one metric to another and doing dimensional segmentation can help turn metrics into analytics.

Some examples of metrics include HR expense to revenue ratio, worker ratio, percentage of HR staff in supervisory roles, and HR expense to Operating expense ratio (SHRM HR Metrics 2016). HR expense to revenue ratio is useful for fiscal budgeting as it creates a standard for projected budgeting costs for each year on HR expenses.

The worker ratio provides a way of comparing HR staffing levels across and within organizations. The percentage of HR staff in supervisory roles is useful in determining the span of control within HR. The HR expense to Operating expense ratio depicts the amount that HR expenses as a percentage of total operating expenses, and this indicates the proportion of money that an organization invests in the HR function. HRMs can use metrics to measure the success of the selection and recruitment processes. For instance, metrics provide insights into process improvement opportunities, and therefore they are useful to those who manage the HR process. Also, since metrics provide a basis for analysis, this helps in ensuring that the best candidates are recruited and selected by the HR professionals.

There are three metrics that I believe are the most relevant. These metrics include the HR expense to operating ratio, worker ratio, and HR expense to revenue ratio. The HR function requires an investment of some dollars. This investment represents expenses, and therefore the expenses must not exceed the revenue. Hence, there is a need for the HR expense to operating ratio.

Similarly, there is a need to evaluate the number of workers in an organization so as to determine where there is a need for more for purposes of improved production. The worker ratio helps in such a situation. Moreover, there is a need to operate under a specific budget in the HR function.