1. You are an HR manager of Chern's department store, and are trying to forecast the number of its full-time sales associates (FTSA) for your flagship store in NJ next year. To that end, you are performing a transition analysis based on the probability matrix below. The probabilities are based on annual rates that are averaged over the span of past five years. If your staffing goal is to maintain the current number of FTSA (i.e., 140), how many would you need to hire in order to avoid talent shortage next year? Show your calculation process and round up all fractions to ensure to have a sufficient number of FTSA. (10 pt) FTSA PTSA DEP BUY MER Exit Current # of Employees %) (%) %) (%) (%) %) 50 15 15 5 5 5 20 140 30 50 5 0 15 30 Job Category Full-Time Sales Associates (FTSA) Part-Time Sales Associates (PTSA) Department Manager DEP) Buyers (BUY) Merchandising Managers (MER) 5 10 10 0 20 16 75 0 0 10 65 30 5 O 0 10 80 20 18 2. Based on your previous experience, you expect that 25% of the store's job applicants for FTSA become job candidates, and 20% of the job candidates receive job offers, 75% of which are accepted. You are going to predict the number of applicants your company needs to generate to acquire the number of new FTSA you forecasted above. Show your calculation process and round up all fractions to ensure to have a sufficient number of job applicants. (10 pt) 3. Chern's has used six different sources for FTSA applicants in the past (see below). You are going to prioritize the six recruiting sources to maximize the effectiveness of the company's hiring efforts. Based on the staffing outcomes and costs provided in the table below, rank order the recruiting sources to more effectively recruit for the FTSA position. Be sure to provide specific rationale for each of the rank-ordered sources. (10 pt) Hiring Speed Cost per Hire Culture Fit Average First Year Financial Return First Year Turnover Rate College Hiring 5 months $4,000 Good $30,000 20% Employee Referrals 2 months $2,600 Very good $38,000 10% Chern's.com 2 months $1,500 Good $38,000 20% Search Firm 3 months $5,200 Average $20,000 15% Walk-ins 1 month $1,500 Poor $5,000 30% Newspaper Ads 2 months $2,000 Poor $4,000 25% 1. You are an HR manager of Chern's department store, and are trying to forecast the number of its full-time sales associates (FTSA) for your flagship store in NJ next year. To that end, you are performing a transition analysis based on the probability matrix below. The probabilities are based on annual rates that are averaged over the span of past five years. If your staffing goal is to maintain the current number of FTSA (i.e., 140), how many would you need to hire in order to avoid talent shortage next year? Show your calculation process and round up all fractions to ensure to have a sufficient number of FTSA. (10 pt) FTSA PTSA DEP BUY MER Exit Current # of Employees %) (%) %) (%) (%) %) 50 15 15 5 5 5 20 140 30 50 5 0 15 30 Job Category Full-Time Sales Associates (FTSA) Part-Time Sales Associates (PTSA) Department Manager DEP) Buyers (BUY) Merchandising Managers (MER) 5 10 10 0 20 16 75 0 0 10 65 30 5 O 0 10 80 20 18 2. Based on your previous experience, you expect that 25% of the store's job applicants for FTSA become job candidates, and 20% of the job candidates receive job offers, 75% of which are accepted. You are going to predict the number of applicants your company needs to generate to acquire the number of new FTSA you forecasted above. Show your calculation process and round up all fractions to ensure to have a sufficient number of job applicants. (10 pt) 3. Chern's has used six different sources for FTSA applicants in the past (see below). You are going to prioritize the six recruiting sources to maximize the effectiveness of the company's hiring efforts. Based on the staffing outcomes and costs provided in the table below, rank order the recruiting sources to more effectively recruit for the FTSA position. Be sure to provide specific rationale for each of the rank-ordered sources. (10 pt) Hiring Speed Cost per Hire Culture Fit Average First Year Financial Return First Year Turnover Rate College Hiring 5 months $4,000 Good $30,000 20% Employee Referrals 2 months $2,600 Very good $38,000 10% Chern's.com 2 months $1,500 Good $38,000 20% Search Firm 3 months $5,200 Average $20,000 15% Walk-ins 1 month $1,500 Poor $5,000 30% Newspaper Ads 2 months $2,000 Poor $4,000 25%
