What is the vacancy rate? You are the senior human resource professional in a co

Question

What is the vacancy rate?

You are the senior human resource professional in a company and part of the senior strategic management team. The company is a service company that operates five teleprofit centers of 300 representatives each in the following Florida cities: Jacksonville, Orlando, Gainesville, Tampa, and Miami. The CEO has asked the senior strategic team to develop a HR plan that will allow the company to grow by two more teleprofit centers, which will be located in Jacksonville, Florida. Considering turnover, length of training, hiring success and learning curve for new employees- develop a reasonable "hire ahead" plan, which keeps newly trained employees ready to take the place of employees who leave or are promoted to other positions. The "hire ahead" plan must allow no more than 3% of the employee base in each of the new teleprofit centers to consist of newly trained employees. The following factors should be considered while developing the plan There is a human resource budget of $3.5M. From the HR Budget, $200K will be dedicated for recruiting and selection. Recruiting costs will increase by 30%, but the HR budget will not increase. Recuiting will be conducted through Monster, CareerBuilder, Sologig, and in various print publications in the isted cities. There will be 4500 applications received per month from the recruiting efforts. Average turnover of the teleprofit representatives in the company is 7% per month. Average turnover of the teleprofit representatives in Jacksonville is 5% per month. New representatives receive two weeks of training in the classroom and two weeks of "side-by-side" training before they are on their own. All trainer positions are exempt. . · It takes nine months for a representative to be considered "fully trained"

Explanation / Answer

Success rate-

Pre-screening-95%

Interview- 50%

Employee testing: 50%

Drug Screening: 95%

Background Check: 60%

Credit Check: 40%

Final cleared rate= 0.95*0.5*0.5*0.95*0.6*0.4= 0.0542= 5.42%

Hence vacancy rate = 1=0.0542= 0.9458 or 94.58%

Total vacancy per month = 4500*0.9458= 4256

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