What metrics are used for evaluating the costs, selection rates, acceptance, and yield rate for recruitment and retention? The Department of Defense is given yearly goals for recruiting and retention within the armed forces, and these goals must be met within the given budget for the year. Furthermore, other organizations use multiple strategies for sourcing their candidates. Whereas these strategies are often costly, it is wise to evaluate which resulted in the most candidates. Also, the armed forces assessment tools need revision, testing is …show more content…
Now that you have evaluated a current or pat employer, what do you recommend/propose for your organization (fictitious or real) for a recruitment strategy? According to Banta and Pike (2012) the organization should use yield metrics so as to help figure out whether the current recruitment strategies and sources are effective. Also, to introduce retention rates metric as to assess the retention of new hires.
9. What are the risks and challenges the organization faces by implementing the plan you recommend? The major risks associated with yield metric is that, if the employee is underperforming, he or she is likely to get laid off. The risk of the retention rate metric is that if the retention rate if very low, the company is at risk of not getting suitable employees since they will not risk applying to such an organization.
10. Provide an example of ways in which it is effectively or ineffectively implemented. Elaborate upon and assess this situation? Yield metrics can also help you figure out whether your recruitment strategies and sources are effective. For example, you could assess an external agency’s services as a candidate source. Account for an organization receiving 300 resumes, and only 7% of them passed through your screening phase. This low yield could indicate an issue. Furthermore, they might need to communicate more clearly with your internal/external agency about position requirements. Or, maybe, the organizations audience just isn’t right for recruiting