Article: 5P model to reduce hiring cost

Talent Acquisition

5P model to reduce hiring cost

Corporate should strongly focus on Internship and nurture internee for growth
5P model to reduce hiring cost
 

Author: Anubha Walia

 

Human resource is the most crucial resource in any organization. Hiring human resource involves cost i.e cost of recruitment, selection and sometimes leading to cost of a poor hiring which is greater than recruiting, selecting, and training a new employee.

Good hiring is not only related to productivity but profitability to an organization. How can we reduce Cost of Hiring? What new methods organization can adopt in getting best resource. We all are aware the recruitment cost varies from industry to industry to profiles to grade and location with selection process used. Cost includes recruitments - Planning & Preparation, Advertisements, Application assessed, using various tool in selection process, LOI & LOA, agencies, reallocation and cost of poor hiring.

VISTA of 5Ps

College/Graduate are very crucial level followed by B-school or professional courses. Seniors member, Educationist can foster collaboration and build spirited teams with Corporate. Both should actively involve students and make them understand that mutual effort and respect is what sustains amazing efforts; they can strive to create an atmosphere of trust, human dignity and strengthen students making each one feel capable and powerful by hiring them as an Interns.

Corporate should strongly focus on “Internship”. Employers envision the future, creating an ideal and unique image of what the organization can become and should nurture internee for growth by using 5Ps focussing on the Job aspect towards making internee learn managerial ship and interpersonal skills, can create standards of excellence and then set an example. Because the prospect of complex change can overwhelm people and stifle action, they can help to set interim goals so that people can achieve small wins as they work toward and can achieve larger objectives followed by celebrating accomplishment.

ON THE JOB TRAINING During INTERNSHIP

OJT is the most popular effective structured approach to delivery and can be worked with 5Ps concept.

Steps of 5Ps include
  1. Prepare (prepare instruction plan) based on attention and motivation
  2. Present (tell, show, demonstrate, explain) in cognitive form and symbolic coding
  3. Practice (let the learners do the job, provide feedback) i.e. symbolic rehearsal
  4. Pursue (check progress) i.e. and behavioral reproduction.
  5. Placement ( Hire them)

OJT should be focused both with formal and informal way and can be supplemented with mentorship too. Instruction can be given by coworker or supervisor at the job site on an informal basis followed by formal program with supervisor. Both should follow carefully developed sequence in learning events.

The way we have organization intervention, we can have 5Ps learning intervention for New economical method for hiring i.e. a planned process to bring change in a person’s KASOC through various methods thus hiring Interns after developing and transforming for self and organizational development. With Interns organization will not only help them learn but get task done and contribute to social development, exposing internee to corporate world and get ready resource for development of an organisation.

Anubha Walia is Director-Facilitator & Coach at Prism Trainings and Consultancy. You can follow her on Twitter @anubhamaurya

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Topics: Talent Acquisition, #TalentMinded

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