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University of Toronto Scarborough
Management (MGH)
Sujay Vardhmane

Chapter 5 Expanding the Talent Pool: Recruitment and Careers RECRUITING TALENT EXTERNALLY OUTSIDE SOURCES FOR RECRUITMENT Advertisements Unsolicited applications and resumes Internet recruiting Employee referrals o There are several ways to increase the effectiveness of employee referral programs: Up the ante companies pay high commissions to employment agencies and search firms. So why not do the same thing with employees when they provide a good referral Pay for performance some firms save part of the referral bonus until the new hire has stayed for six months Tailor the program companies tpyicall need more of certain types of skills than others, part of a good referral program is educating employees about the kinds of people the org wants to hire. Increase visibility one of the best ways to publicizie a referral program is to celebrate successes. Some companies use novel approaches such as job of the month. The idea is to keep everyone thinking about bringing in good people Keep the data even if one of the applicants from before dont get the job this time, they might still be valuable in the future Rethink your taboos in a tight loabur market, it is a good idea to broaden the search Widen the program Measure results o Nepotism - a preference for hiring relatives of current employees Executive Search Firms Educational institutions Universities Labour Unions Public Employment agencies Private employment and temporary agencies THE GLOBAL LABOUR MARKET IMPROVING THE EFFECTIVENESS OF EXTERNAL RECRUITMENT Chapter 5 Expanding the Talent Pool: Recruitment and Careers Yield ratio the percentage of applicants from a recruitment source that make it to the next stage of the selection process Cost of Recruitment Organizational Recruiters Realistic Job Previews o This means to inform applicants about all aspects of the job, including both its desirable and undesirable facets RECRUITING TALENT INTERNALLY ADVANTAGES AND LIMITATIONS OF RECRUITING FROM WITHIN Pros: accurate assemesnt of applicants skill employees see that competence is rewarded enhancing commitment, morale and performance already with firm committed to goals, less likely to leave already oriented possibily good networks in firm lower recruitment costs Cons: if dont get job become discontented wasting time interviewing all internal candidates when they already have made up their mind employees may be less accepting of a boss appointed from their ranks possibility of inbreeding noting in fresh ideas
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