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Cost-Benefit Analysis

Cost-Benefit Analysis

Cost-Benefit Analysis

Review Exercise 40: Evaluating the Recruiting Function on pages 123–126 in Nkomo, Fottler & McAfee, 2011. Then, using the Excel documents, respond to the following

https://content.waldenu.edu/content/dam/laureate/laureate-academics/wal/ms-mhrm/mhrm-6401/week-03/Nkomo%20Exercise40.pdf

  • Using the data in Exhibit 2.9: Data on Recruitment Sources for Registered Nurses at St. Vincent’s Hospital, 2015 – 2016 (Excel document), complete the calculations on Form 2.5: Yield Ratios at Each Step in the Recruitment Process and Recruitment Cost per Nurse Hired, St. Vincent’s Hospital, 2015 – 2016 (Excel document). Include your answers to Form 2.5: Yield Ratios at Each Step in the Recruitment Process and Recruitment Cost per Nurse Hired, St. Vincent’s Hospital, 2015 – 2016 (Excel document) as an appendix. These calculations will influence your answers in this case.
  • Describe the use of metrics for a hospital recruiting strategy.
  • Explain the benefits of metrics in recruiting strategy development and execution
  • Evaluate the nurse recruiting strategy for a hospital
    • What are the metrics used in the case?
    • What was the process the hospital used to select these metrics? Is it effective? Why or why not?
    • Based on the data calculations you completed, is the hospital using effective recruiting sources? Please provide your rationale?
    • Which recruiting sources would you need to manage more effectively and why?
  • Assess the cost benefits of using HR metrics
    • How can HR metrics be used to lower costs?
  • Explain how HR metrics can be used to create value for an organization
    • How could the recruiting process be improved through effective use of HR metrics?
    • What stage or stages of the hospital recruiting process seem the most amenable to improvements?
  • Identify new specific metrics to support HR recruitment functions

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