The Employment Process as a Return on Investment (ROI)
Part 1: Identifying the costs and resources it takes to hire a new employee.
•Think of the type of organization for which you may one day work. ?Select a position that would likely need to be filled by HR within that organization.
•Generate a spreadsheet in Microsoft Excel (or another comparable platform) that considers the steps and financial aspects associated with filling this position and identifies: ?The steps and estimated costs associated with identifying, selecting, and recruiting applicants.
?The steps and estimated cost associated with compensating a new employee.
?The steps and estimated cost associated with on-boarding transactions for a new employee.
?The steps and estimated cost associated with training and preparing the work environment for a new employee.
?Note: Each of the bolded words above represent a key part of the process that you must detail in your spreadsheet. Under each of these four key headings, you must identify five or more associated tasks that HR may employ. You may use the “Costs of a New Employee” template found in this week’s resources for your Assignment, or you may use it to help you as you set up your Assignment. If you elect to create your own, all headings and sub-headings must stay the same. Do not alter the parameters of the Assignment.
Part 2: Write a 1- to 2-page reflection that includes the following:
•What have you learned about the cost and processes of recruiting a quality employee?
•Evaluate how employee quality correlates to an organization’s ROI. ?What if you had to terminate this employee because of their below-average work ethic? Identify the consequences associated with terminating this employee. How would having to hire another employee for this same position affect the organizations ROI for the position?
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