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Recruitment & Retail Marketing.

Sub Retail Management. Submitted To Prof.Tasneem Khidir.

Submitted ByAmrendra Kumar Jaiswal Roll No 22, MMS (III-sem) SIMS, Nerul.

Recruitment & Retail Marketing

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 a member of staff at the business or organization looking for recruits. Advertising is commonly 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 job center, through campus interviews, etc. Suitability for a job is typically assessed by looking for skills, e.g. communication skills, 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 agencies may 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 to assess numeracy and literacy. A candidate may also be assessed on the basis of an interview. Sometimes candidates will be requested to provide a rsum (also known as 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 mandated to 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 human resource base of a cult. Head-hunting is a frequently used name when referring to third party recruiters, but there 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 house recruiters will do their best to attract candidates for specific jobs while head-hunters will actively seek them out, utilizing large databases, internet strategies, purchasing company directories or lists of candidates, networking, and often cold calling. Many companies 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 pay the fee. Fees of these agencies generally range from a straight contingency fee to a

fully retained service which is similar to placing an attorney on retainer. All recruitment agencies are defined by the placement of a candidate to a particular job within 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 to an external service provider. A true or total RPO solution involves the outsourcing of the entire recruiting function or process to an external service provider. This provider serves to provide the necessary skills, tools, technologies, and activities to serve as their client's virtual "recruiting department". This definition differs from occasional recruiting support often provided by many temporary, contingency, and executive search firms. While these 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 a form of RPO for many decades, the concept of an employer outsourcing the entire recruiting 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 internal expertise and resources to acquire the talent needed to remain competitive. In addition, the generation arriving to the labor force in the 1990s began bringing a shift in career pathing. Rapidly changing markets and industries now forced people to consider shifting employers when beneficial to them as opposed to staying with the same company over the course of their career. This combined with the arrival of Internet technologies and job boards, such as, Career Builder, and HotJobs resulted in greater attrition and heightened competition for talent. While RPO was first coined as a term in the late 1990s, several companies now claim to provide RPO services. HRO Today, a trade magazine specializing in human resources outsourcing, credited Recruitment Enhancement Services as the Inventors of Recruitment Process Outsourcing (RPO). RES began offering candidate sourcing, screening, and coordination services as early as 1983. More recently, in 2004, HRO Today credited RPO provider Hyrian with "Bringing a new acronym (RPO) to the HRO 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 levels of 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

population that possesses the sourcing skills needed to recruit for all those different skill-sets is extremely challenging. However, an RPO provider will typically have a large staff of recruiters, an extensive database of candidate resumes, and the established tools and networks needed to source for all types of positions. Costs can be reduced because an RPO provider typically provides greater recruiting efficiencies with best practice processes and improved sourcing techniques. In addition, RPO solutions typically allow for greater fluctuation in volumes and do not require 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 the company will have to either lay-off recruiters during the slower periods or will be forced to compensate under-utilized recruiters. With RPO, the external provider can often shift underutilized resources to other clients where volumes are higher, thus saving the original client the cost of those resources. Potential Consequences/Problems Outsourcing of any company process can be a challenging change management experience. Failing to properly ascertain the impact of RPO will result in reduced hire success, decreased quality of hire, and higher costs. Furthermore, not all employers are well-suited to RPO. An RPO solution will not work under a broken or failing process. The employer must be willing to recognize that the RPO provider has success because of a proven business model and process. Hiring managers within an employer must be required to observe new procedural controls 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 instead require 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 widely considered to be an employer-of-choice, may only receive negligible benefits from an RPO solution. Such a company may not be well-suited for an RPO solution either as it would 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 will often still reside with the employer's HR Vice President or Director of Staffing, the responsibility for execution will reside with the RPO provider. This often amounts to a switch for the employer's executive from the role of player to coach. This adjustment, while critical, may not fit with the personality or skill set of the executive and/or the culture of the employer


Drawing of a self-service store. Retailing consists of the sale of goods/merchandise for personal or household consumption either from a fixed location such as a department store or kiosk, or away from a fixed location and related subordinated services.] In commerce, a retailer buys goods or products in large quantities from manufacturers or importers, either directly or 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 are at the end of the supply chain. Marketers see retailing as part of their overall distribution 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 the latter 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 the customer can visit to do business with. The first is counter-service, once the only type of shop, but now rare except for selected items (see below). The second, and now more widely used method of retail, is self-service. Quickly increasing in importance are 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 counterservice items, e.g. controlled items like medicine and liquor, and small expensive items.

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 one ownership with many counters, each dealing with a different kind of article was invented; 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 there developed the mall, midway between the arcade and the department store. A mall consists of several two-storey department stores linked by arcades (many of whose shops 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 be known 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 selling the 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 shop owners (see also restaurant chain). Some shops sell second-hand goods. Often the public can also sell goods to such shops. In other cases, especially in the case of a nonprofit shop, the public donates goods to the shop to be sold (see also thrift store). In give-away shops goods can be taken for free. The term retailer is also applied where a service provider services the needs of a large number of individuals, such as with telephone or electric power. Retail pricing The pricing technique used by most retailers is cost-plus pricing. This involves adding a markup amount (or percentage) to the retailers cost. Another common technique is suggested retail pricing. This simply involves charging the amount suggested by the manufacturer 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 are generally 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 to some customers and lower prices to others. For example, a customer may have to pay more if the seller determines that he or she is willing to. The retailer may conclude this 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 a negotiation about the price. Economists see this as determining how the transaction's total surplus will be divided into consumer and producer surplus. Neither party has a clear advantage, because the threat of no sale exists, whence the surplus vanishes for both.

Retail performance Retail Performance is based on key principles adopted and tailored by retailers to gain competitive 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 reporting results, identifying under performance and coaching for success Reinforce World Class Retail standards in operations, management and sales and service 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 succeed than 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 and understanding 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 individual sales 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 the company, highlighting areas of poor performance and recommending the specific actions required to improve performance. With the correct information, managers are able to take quick and decisive action that results in a more responsive business and improved results. KPI Measurement Methodology Retail performance measurements are broken down into 2 main categories: Roster and Performance. 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 companys strict wage budgets. Rostering within budgets is a retailers first opportunity to reduce operation expenditure an expense within the control of the Store Manager.

Retail Sales Management Reporting The Retail Sales Management Reporting component of any turnkey solution should make all individual Salespeople accountable for their time, by setting them individual sales targets by shift within an overall weekly sales target framework and measuring and analyzing their performance according to five (5) key KPIs. With this information, Managers can target individual Salespersons weaknesses as their 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 and quickest 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 individuals and stores hourly sales. Items Per Sale - the number of items sold by individual compared to the store average. Average Sale the average fiscal value of each individual sale compared to the store average. Conversion Rate - the number of walk-ins that can be converted to sales. Sales per Wages Spent the fiscal contribution each salesperson makes, or how much is spent on wages compared to how much they sold.