Attracting employees by using different recruitment sources is an important aspect of human resource management. Analyzing the effects of different recruitment sources as well as the total strategy can assist in planning future recruitment strategies. In this assignment, you will analyze recruitment planning scenarios based on the recruitment experience of the Salesteq Corporation.
File Needed: HRM Analysis Assignment 1 Fall 2023.xlsx
Familiarize yourself with the spreadsheet before beginning your work.
Salesteq Corporation is a successful consumer products’ company located in San Francisco. The company has been growing at a constant rate during the past three years. Productivity gains have been realized through computerization of its services. Salesteq has strongly supported its personnel staff since people are viewed as a critical asset for the continued success of the company.
Employees are recruited from four sources: the web, newspapers, radio, and referrals. All recruits are interviewed and a selection decision is made “by someone” based on the interview score? Salesteq’s HR staff monitor the number of interviews they conduct by recruitment source. Additionally, recruitment data on the number of people hired, average performance of hires at the end of the first year, and total recruitment costs are collected.
In this assignment, you will be calculating a number of HR metrics pertaining to different areas of recruitment. These include metrics for assessing Salesteq’s previous recruitment strategy, planned interview strategy, and actual vs. forecasted recruitment. These computations will help you to understand what assessments go into evaluating different areas of recruitment at an organization.
As you work through the assignment, please be sure to continually save your work after each section. Save your work as a new Excel file using your first initial and last name. For example, Joe Smith would be:
As with any of the functions used in this assignment, Microsoft and YouTube have excellent tutorials that can assist you in using them. In addition, your professor has recorded a video that demonstrates how to execute the procedures described below (with a different set of data) that can be accessed via the links below.
In addition, the Word file below describes step-by-step procedures for executing this analysis are also attached to this assignment: HRM Analysis 1 Instructions Fall 2023.docx
Your task is to complete the spreadsheet model for the recruiting analysis and interpret the results. In your submission of the assignment you should include your spreadsheet with all functions as well as a brief report (~300 words) that addresses the questions below. The grading rubric for this assignment is displayed in the syllabus and the deadline for submitting your excel file and report is 10/5/2023 by 7:30 pm CST.
Using the data from the spreadsheet, answer the following questions in a separate document.
1. Set all your data for all sources in the “Interview strategy by Recruitment Source” to zero. Next, increase the number of interviews from Part II for the recruitment source with the highest historical yield ratio until the FORECASTED number of hires in the FORECASTED column (e.g. cell F58) equals the ACTUAL number of hires (D58).
Question 1: What recruiting source was used? How many interviews were required?
Before continuing, reset your data to the original forecasted number of interviews.
2. Further analysis indicated that 65 percent of Salesteq minority recruits are attracted by radio. Assume that a minimum of 70 interviews are needed for those who apply due to radio. Plan an interview strategy such that costs per hire do not exceed ACTUAL costs per hire with as many FORECASTED outcomes as possible (number of hires, average performance, and total yield) exceeding ACTUAL outcomes.
Question 2: What was your strategy for this scenario? Explain. (i.e., This will require you to change the numbers across all recruitment sources, to identify an optimal mix of recruitment sources.
As with the previous analysis, reset your interview numbers to the original data.
3. Next imagine that because of budget cutbacks, Salesteq will only budget $6,500 for the next year’s recruitment budget. Explain your strategy for this scenario.
Question 3: What are the advantages and disadvantages of this recruitment planning model? Explain