Recruitment & Selection - Human Resource Management
This is critical because increase competition, fast changing customer needs for higher products.
In Figure 1 it shows that in broad terms that the overall goal of selection is to maximize “hits” and avoid “misses”. Hits are accurate predictions and misses are the opposite ones. The impact of one type of miss would cause direct and indirect expense of hiring an employee who turns out to be unsuccessful.
Cost efficiency and legal concerns are identified as the two main reasons why the selection process is significant in Human Resource. When an organization hires an unsuitable employee, they pay to train and orient a person who ultimately may cause more harm than good if he performs poorly and negatively affects the workplace. The costs to replace a bad hire are sky-high in many industries. A Society Human Resource Management study showed that even an $8 an hour retail employee can cost up to $3,500 to replace because of the hiring, administrative and training costs involved. (Kokemuller, n.d.)
1.3 Consequence of poor selection * Increase of waste * Decrease productivity of employees * Higher need for training * May cause accidents * Absenteeism * Job