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ASSIGNMENT 

Topic

Recruitment & Retail Marketing.

Sub – Retail Management.Submitted To – Prof.Tasneem Khidir.

 

Submitted By-Amrendra Kumar Jaiswal

Roll No– 22, MMS (III-sem)

SIMS, Nerul.

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Recruitment & Retail Marketing

Recruitment

Recruitment refers to the process of finding possible candidates for a  job or function,undertaken by recruiters. It may be undertaken by an employment agency  or amember of staff at the business or organization looking for recruits. Advertising iscommonly part of the recruiting process, and can occur through several means:through newspapers, using newspaper dedicated to job advertisement, through

 professional publication, using advertisements placed in windows, through a  jobcenter , through campus interviews, etc.

Suitability for a job is typically assessed by looking for skills, e.g. communicationskills, typing skills, computer skills. Evidence for skills required for a job may be

 provided in the form of qualifications (educational or professional), experience in a job requiring the relevant skills or the testimony of references. Employment agenciesmay also give computerized tests to assess an individual's "off-hand" knowledge of software packages or typing skills. At a more basic level written tests may be given toassess numeracy  and  literacy. A candidate may also be assessed on the basis of aninterview. Sometimes candidates will be requested to provide a résumé (also knownas a CV) or to complete an application form to provide this evidence.

In some countries, such as the United States, a great deal of care is legally mandatedto ensure that all candidates are dealt with equitably.

The follow-up process may be referred to as part of the recruitment process:inveigling the selected candidate or candidates to take up the target job or function.This applies particularly in filling positions in the military or in expanding the humanresource base of a cult.

Head-hunting is a frequently used name when referring to third party recruiters, butthere are significant differences. In general, a company would employ a head-hunter when the normal recruitment efforts have failed to provide a viable candidate for the

 job. Head-hunters are generally more aggressive than in-house recruiters and will use,advanced  sales techniques such as initially posing as clients to gather names of employees and their positions, personal visits to the candidates office and will

 purchase expensives lists of names and job titles. They also prepare a candidate for the interview, negotiate salary, and conduct closure to the search. In general, in houserecruiters will do their best to attract candidates for specific jobs while head-hunterswill actively seek them out, utilizing large databases, internet strategies, purchasingcompany directories or lists of candidates, networking, and often cold calling. Manycompanies go to great efforts to make it difficult for head-hunters to locate their employees.

Third party recruitment firms are usually distinguished by the method in which they bill a company. Outside recruitment agencies charge a placement fee when the

candidate they recruited has accepted a job with the company that has agreed to paythe fee. Fees of these agencies generally range from a straight contingency fee to a

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fully retained service which is similar to placing an attorney on retainer. Allrecruitment agencies are defined by the placement of a candidate to a particular jobwithin a company.

Recruitment process outsourcing

Recruitment Process Outsourcing (RPO) is a form of  business process outsourcing (BPO) when an employer outsourcers or transfers all or part of the staffing process toan external service provider.

A true or total RPO solution involves the outsourcing of the entire recruiting functionor  process to an external service provider. This provider serves to provide thenecessary skills, tools, technologies, and activities to serve as their client's virtual"recruiting department". This definition differs from occasional recruiting supportoften provided by many temporary, contingency, and executive search firms. Whilethese organizations do provide an invaluable service, they do not qualify as RPO as it

does not involve the outsourcing of the recruiting process.

History

While many temporary, contingency, and executive search firms have provided aform of RPO for many decades, the concept of an employer outsourcing the entirerecruiting process wasn't truly realized until the mid-to-late 1990s when the dot-com

 boom resulted in significant talent shortages. Many companies lacked the internalexpertise and resources to acquire the talent needed to remain competitive.

In addition, the generation arriving to the labor force in the 1990s began bringing ashift in career pathing. Rapidly changing markets and industries now forced people toconsider shifting employers when beneficial to them as opposed to staying with thesame company over the course of their career. This combined with the arrival of Internet  technologies and  job boards, such as Monster.com, Career Builder , andHotJobs resulted in greater attrition and heightened competition for talent.

While RPO was first coined as a term in the late 1990s, several companies now claimto provide RPO services.  HRO Today, a trade magazine specializing in humanresources outsourcing, credited Recruitment Enhancement Services as the Inventorsof Recruitment Process Outsourcing (RPO). RES began offering candidate sourcing,

screening, and coordination services as early as 1983. More recently, in 2004, HROToday credited RPO provider Hyrian with "Bringing a new acronym (RPO) to theHRO dictionary" and "Reinforcing that RPO is a rising trend".

Purpose / Benefits

Often the goal of starting an RPO solution is to achieve improvement in four areas:quality, cost, service, and speed.

RPO providers utilize their inherent economies of scale along with heightened levelsof recruiting expertise that is expected within a company that does nothing but

recruiting. For example, some multi-national companies may have over 1,000 positions requiring different skill-sets and expertise. Staffing an in-house recruiting 

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 population that possesses the sourcing skills needed to recruit for all those differentskill-sets is extremely challenging. However, an RPO provider will typically have alarge staff of recruiters, an extensive database of candidate resumes, and theestablished tools and networks needed to source for all types of positions.

Costs can be reduced because an RPO provider typically provides greater recruitingefficiencies with best practice processes and improved sourcing techniques. Inaddition, RPO solutions typically allow for greater fluctuation in volumes and do notrequire dedicated staff to support a department when volumes are low. For example, if a company hires 10 recruiters to handle their peak requisition volumes, then thecompany will have to either lay-off recruiters during the slower periods or will beforced to compensate under-utilized recruiters. With RPO, the external provider canoften shift underutilized resources to other clients where volumes are higher, thussaving the original client the cost of those resources.

Potential Consequences/Problems

Outsourcing of any company process can be a challenging change managementexperience. Failing to properly ascertain the impact of RPO will result in reduced hiresuccess, decreased quality of hire, and higher costs.

Furthermore, not all employers are well-suited to RPO. An RPO solution will notwork under a broken or failing process. The employer must be willing to recognizethat the RPO provider has success because of a proven business model and process.Hiring managers within an employer must be required to observe new proceduralcontrols and process in order to achieve optimal delivery of RPO services.

If an organization has difficulty hiring quality hires due to an extremely negative perception of the employer, an RPO program will not correct this. This will insteadrequire improved branding and an adjustment of that image before RPO will begin to

 be successful.

On the other hand, a company with a well observed hiring process and that is widelyconsidered to be an employer-of-choice, may only receive negligible benefits from anRPO solution. Such a company may not be well-suited for an RPO solution either as itwould not bring a positive return on investment.

Finally, the proper control or governance of a well run solution may be difficult for some employers to adjust to. While the responsibility for results and success willoften still reside with the employer's HR Vice President or Director of Staffing, theresponsibility for execution will reside with the RPO provider. This often amounts toa switch for the employer's executive from the role of player to coach. Thisadjustment, while critical, may not fit with the personality or skill set of the executiveand/or the culture of the employer 

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Retailing

Drawing of a self-service store.

Retailing consists of the sale of goods/merchandise for personal or householdconsumption either from a fixed location such as a department store or  kiosk , or awayfrom a fixed location and related subordinated services.] In commerce, a retailer buysgoods or  products in large quantities from manufacturers or importers, either directlyor through a wholesaler , and then sells individual items or small quantities to the

general public or end user customers, usually in a shop, also called store. Retailers areat the end of the supply chain. Marketers see retailing as part of their overalldistribution strategy.

Shops may be on residential streets, or in shopping streets with little or no houses, or in a  shopping center . Shopping streets may or may not be for  pedestrians only.Sometimes a shopping street has a partial or full roof  to protect customers from

 precipitation.

Shopping is buying things, sometimes as a recreational activity. Cheap versions of thelatter are window shopping (just looking, not buying) and browsing.

Shops and stores

There are three major types of retailing, two of which have buildings that thecustomer can visit to do business with. The first is counter-service, once the only typeof shop, but now rare except for selected items (see below). The second, and nowmore widely used method of retail, is self-service. Quickly increasing in importanceare online shops, the third type, where products and services can be ordered for 

 physical delivery, downloading or virtual delivery.

Even though most retailing is done through self-service, many shops offer counter-

service items, e.g. controlled items like medicine and liquor, and small expensiveitems.

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Shops used to deal with just one type of article. In the nineteenth century, in France, arcades were invented, which were a street of several different shops, roofed over.From this there soon developed, still in France, the notion of a large store of oneownership with many counters, each dealing with a different kind of article wasinvented; it was called a department store. In cities, these were multi-story buildings

which pioneered the escalator . In the mid-twentieth century in the United States theredeveloped the mall, midway between the arcade and the department store. A mallconsists of several two-storey department stores linked by arcades (many of whoseshops are owned by the same firm under different names). All the stores rent their space from the mall owner.

A recent development is a very large shop called a superstore. Local shops can beknown as brick and mortar stores in the United States.

Many shops are part of a chain: a number of similar shops with the same name sellingthe same products in different locations. The shops may be owned by one company,

or there may be a franchising company that has franchising agreements with the shopowners (see also restaurant chain).

Some shops sell second-hand goods. Often the public can also sell goods to suchshops. In other cases, especially in the case of a nonprofit shop, the public donatesgoods to the shop to be sold (see also thrift store). In give-away shops goods can betaken for free.

The term retailer is also applied where a service provider services the needs of a largenumber of individuals, such as with telephone or electric power .

Retail pricing

The pricing technique used by most retailers is cost-plus pricing. This involves addinga markup amount (or percentage) to the retailers cost. Another common technique issuggested retail pricing. This simply involves charging the amount suggested by themanufacturer and usually printed on the  product  by the manufacturer.

In Western countries, retail  prices are often so-called  psychological prices or odd prices: a little less than a round number, e.g. $6.95. In Chinese societies, prices aregenerally either a round number or sometimes a lucky number. This creates  price 

 points.

Often prices are fixed and displayed on signs or labels. Alternatively, there can be price discrimination for a variety of reasons. The retailer charges higher prices tosome customers and lower prices to others. For example, a customer may have to paymore if the seller determines that he or she is willing to. The retailer may concludethis due to the customer's wealth, carelessness, lack of knowledge, or eagerness to

 buy. Price discrimination can lead to a bargaining situation often called haggling  — anegotiation about the price. Economists see this as determining how the transaction'stotal surplus will be divided into consumer and producer surplus. Neither party has aclear advantage, because the threat of no sale exists, whence the surplus vanishes for 

 both.

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Retail performance

Retail Performance is based on key principles adopted and tailored by retailers to gaincompetitive advantage and improve performance.

The basic principles will:

• Drive compliance with World Class Retail standards and practices

• Instill a customer focused, sales oriented culture throughout the organization

• Introduce a methodology for setting standards, tracking, measuring and reportingresults, identifying under performance and coaching for success

• Reinforce World Class Retail standards in operations, management and sales andservice practices throughout the business

• Bridge the gap between common sense and common practice

• Create a World Class Retail environment where it easier for your people to succeedthan to fail

Retailers’ retail performance solutions include a dynamic blend of different consulting styles, training  philosophies, coaching and mentoring. They provide customers with a

 proven methodology for driving retail success and the skills, knowledge andunderstanding to make it work, creating significant and sustainable increases in sales.

Knowledge Driven Success

Key to retail performance is the ability to measure actual versus planned individualsales and coach on undersupplied statistics. Companies are able to define Key

 performance indicators or  KPI, set targets, and measure the performance of individuals, stores and areas within the business.

The retail performance system should provide relevant reports at all levels of thecompany, highlighting areas of poor performance and recommending the specificactions required to improve performance. With the correct information, managers are

able to take quick and decisive action that results in a more responsive business andimproved results.

KPI Measurement Methodology

Retail performance measurements are broken down into 2 main categories: Roster andPerformance.

Staff Roster A Staff Roster should empower your front-line Store Managers (or H/O personnel) to do weekly Staff Rosters within the framework of the company’s strictwage budgets. Rostering within budgets is a retailer’s first opportunity to reduce

operation expenditure – an expense within the control of the Store Manager.

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Retail Sales Management Reporting The Retail Sales Management Reportingcomponent of any turnkey solution should make all individual Salespeopleaccountable for their time, by setting them individual sales targets by shift within anoverall weekly sales target framework and measuring and analyzing their performanceaccording to five (5) key KPIs.

With this information, Managers can target individual Salesperson’s weaknesses astheir system will guide them as to which KPI to focus on first.

Being able to identify and then focus on the undersupplied KPI yields the greatest andquickest increase in each Salesperson's performance.

Which KPIs should be tracked?

A retail performance system should track at least five (5) Store and Individual Staff KPIs:

Sales per Hour - the fiscal value of the individual’s and stores hourly sales.

Items Per Sale - the number of items sold by individual compared to the storeaverage.

Average Sale – the average fiscal value of each individual sale compared to the storeaverage.

Conversion Rate - the number of walk-ins that can be converted to sales.

Sales per Wages Spent – the fiscal contribution each salesperson makes, or howmuch is spent on wages compared to how much they sold.