Employee turnover, slow sales processes, poor product development, and lack of operation morale can result in the company's downfall. As a result of these problems, CapraTek has lost 80%, which is the ultimate purpose for any business. Employee turnover can be solved by offering employee flexibility, paying attention to them, encouraging them, embracing their ideas, compensating them, engaging them, and hiring the right ones. At the same time, an organization can address operational morale by providing feedback when and if needed, appreciating workers, and helping employees grow personally and professionally. Addressing product development requires the organization to find clients' pain points and managing them. It requires adjusting the price for clients and developing products according to the available opportunities instead of markets. Focusing on the existing clients first, cultivating value, innovating new and unique products, and learning about competitor strategies may help improve sales. This can also be achieved with a customer-based approach to business.
In a vast, complex, and competitive environment, it is hard to find the ideal employees. Hiring professional consultant services to fill the respective roles would be a good idea because it will ensure a faster staff acquisition process. This option is most likely to guarantee the organization gets top talent which it has failed to find. Also, consulting services are specialized in respect to fields, industry, and skills, and as such, they can provide specialists as specifically as the company needs (Richardson, 2012). A consultancy firm communicates with the job seeker and potential employers. They are beneficial because they ease the process of recruitment. They are experts in that field, and so recruit the best suited for the job. Additionally, they can recruit part-time employees if need be.
Delegate your assignment to our experts and they will do the rest.
However, consultant services are expensive as compared to the self-hiring process. Additionally, these individuals do not advertise the brand or company, and they may lack proper communication leading to failure. Like the external search, As a human resource manager looking to hire new staff, I would not take this action because I would be cutting on costs. Additionally, I would prefer an approach that will increase employee morale, for instance, hiring from within. An employee hired through consultancy services would not have the appropriate assessment to decide if they fit with organizational culture.
On the other hand, hiring from within is cost-effective, seeing it saves the organization recruitment costs. The human resource manager evaluates available skills, talents, and abilities, and in most cases, potential candidates require minimum training because they are already well versed with the organization. It is beneficial because the organization is familiar with the employee's capabilities, strengths, and weaknesses (DeVaro, 2020). By hiring from within, the organization fosters employee loyalty which translates to productivity and customer satisfaction. It automatically reduces employee turnover, increases job satisfaction as well as operation morale. However, hiring from within my also have adverse effects on the firm. Engaging employees in the same organization can be limiting for productivity because employees have the same ideas. It may also create jealousy for colleagues who were eyeing the promotion in question.
I would take this action because it is cost-effective and beneficial for an underperforming company. Another reason is it would increase employee morale, productivity, and job satisfaction, increasing customer satisfaction and improving sales. Internal recruitment saves the company time and money and prevents unqualified talent from being hired. To hire from within, I would first identify the hiring need in the company. I would then establish a recruitment plan and create a job description for the available or rather a vacant post. I would advertise the position within the organization and then recruit for it. I would review the applications I receive from different viable employees and then conduct an interview or screening to identify the ideal staff member for the position. To hire from within, I would also opt to groom my employees for future posts to ensure they are well prepared and have adequate and trained human resources.
An organization can achieve external searching and sourcing of employees, such as by advertising a job opening, social media ads, job boards, networking, on the organization's website, or referrals by employees. With this method, the organization invites external talent and candidates, and from the applicants, they choose the ideal new hire (Storey, 2019). One of the best things about this method is that it brings in new skills, talent, and abilities. Searching for employees externally is likely to result in finding more qualified staff and increase competition which promotes growth and fosters the generation of new ideas (DeVaro, 2020). On the other hand, this recruitment method is time-consuming, incurs high costs for an organization, and new hires have little understanding of the company. This recruitment process may create disputes between human resources and existing employees who desired the post, attract unsuitable employees, and involve legal risks.
As a human resource manager at CapraTek, I would not take this action when hiring a director or deputy director. The first reason is that considering the organization has been performing poorly in all angles, and it would be advisable not to spend more money on avoidable expenses. I would also be in a hurry to find the staff and get the company up and running before more losses are incurred, and this method is time-consuming. Furthermore, it can cause internal disputes, increase turnover rates. Another reason is that external hires are likely to perform well during an interview because they are well prepared for it and not be qualified enough to bring change and productivity to the organization.
References
DeVaro, J. (2020). Internal hiring or external recruitment?. IZA World of Labor .
Richardson, M. A. (2012). Recruitment strategies. Managing/Effecting the Recruitment Process. Pridobljeno , 15 (09), 2014.
Storey, J., Ulrich, D., & Wright, P. M. (2019). Strategic human resource management: A research overview.
