Recruitment Operations Flashcards
What are the stages of typical recruitment process?
- Human resource planning
- Defining the need
- Attracting candidates
- Pre-selection
- Assessing candidates
- Selection decision
How can a job analysis be done?
Through interviews, observations, questionnaires, general background information
What is AIDA motivation sequence?
Attention - grabbing attention of potential applicants
Interest - highlighting important, interesting features on the role
Desire - inclusion of potentially desirable factors
Action - specification of next steps in the application process
What is CLAMPS?
Acronym for typical candidate motivators
Challenge
Location
Advancement
Money
Prestige
Security
What assessment methods are available?
Face to face interviews
Video/online interviews
Telephone interviews
Case studies
Problem solving groups
Role plays
Presentations
Questionnaires
Work/skill based tests
Assessment centres
Portfolios
In-tray excersises
What does SMART stand for in setting effective goals?
Specific
Measurable
Attainable
Relevant
Time-bound
What is a difference between a contractor and agency worker?
An agency worker is paid by employment business and likely working under supervision of end hirer.
Contractor has control on how and when they work. They are either employed through an umbrella company responsible for paying their taxes or they pay their own taxes as a sole-trader. They will potentially work on multiple assignments for multiple clients at one time. They can hire a substitute to work for them.
What factors need to be taken into account when calculating business profitability?
The profit and loss account and the balance sheet
How to calculate gross and net profit?
Total revenue - all incomes of organisation
Total costs - cost of sales, operating and expenses
Gross profit - total revenue minus cost of sale
Net profit - gross profit minus operating cost and expenses
What is gross profit margin?
Financial ratio representing organisational efficiency. It is expressed in percentage.
Gross profit margin = (total gross profit : total revenue) x 100
The higher the percentage the more money the company can retain to cover expenses
What is net profit margin?
Net profit as a percentage of total revenue.
Net profit margin = (total net profit : total revenue) x 100
How to calculate net asset figure?
Total assets minus total liabilities = net asset figure
What is RONA?
Return on net assets
(Net profit : net asset figure) x 100 = RONA
What is gearing?
Management ratio showing whether business is funded mainly by the money it makes or by creditors.
High ratio = high proportion of debt to equity
Low ratio = low proportion of debt to equity
