Questions: 1. If this employer needs to fill 100 vacancies, should it spend more
ID: 376271 • Letter: Q
Question
Questions:
1. If this employer needs to fill 100 vacancies, should it spend more money on Web-based recruiting and cut back on TV ads?
2. What are the reasons for the higher cost per hire from TV ads? What could the employer do to reduce these costs, assuming that it wants to continue using TV ads?
3. Given that employee referrals are the cheapest and most effective even though they produce the smallest number of applicants, what could the employer do to take advantage of this opportunity? Will employee referrals cause a problem for EEO?
4. What other things could this employer do to improve its recruiting?
Comparison of Marginal Costs and Effectiveness, by Recruiting Source Recruiting Source & Cost Passed Passed Cost Per Initial Background Passed Actually Completed Successful Hire Applicants Interview Check TestHired Probation Web No $2,000! % 100 35 35% 70% 60% $100 Job Fair No $1,000% 30 60% 10 10 80% 75 38% TV AdsNo 200 $2,586 $75,000| % 33% 23% 15% 15% 10 Ee Referrals No $500 | % 90% 90% 80% 80% 80% 360 $1,013 Total AllNo $78,000| % 194 54% 164 46% 113 31% 83 23% 21%Explanation / Answer
Ans 1: The TV ads are the costliest method of hiring per candidate. Further the selection recruitment and retention rate is also not encouraging for the candidates recruited through such ads.Thus it will be a wise idea to reduce expenses on it and shift to more cost effective methods.
Ans 2 : The high cost of hiring through TV ad can be attributed to the expenses incurred in getting expensive slots on TV for running the ad.
Ans 3 : The organisation should introduce a employees referral scheme and should link incentives to it. It will help the organisation to get better candidates at lower cost of hiring.
Ans 4: Besides employees referrals, the company may use social media like Facebook and professional networking sites like LinkedIn, industry specific forums and independent bodies, professional networks etc. to find out potential candidates at lower cost.
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