A Study on Techniques of Hiring the Right Person at Right Time in the Private Organization

Human Resource Planning indicates the need for additional labor; organizations have a number of choices to make. It could be the first step in a full-scale hiring and selection process, but sometimes hiring additional employees is not the best method to obtain additional labor. It may be fitting for an organization to consider alternatives to hiring, such as outsourcing or contingent labor, instead of hiring regular employees. If this is a temporary fluctuation in work volume, the simplest solution would be part-time labor or overtime by existing employees. The costs of hiring and selection can be staggering; hiring new employees should occur only after careful consideration and only when the organization anticipates a long-term need for additional labor. Estimates on the cost to replace supervisory, technical and management employees run from 50 percent to several hundred percent of employee. Careful human resource planning must consider the overall growth prospects of the organization and accurate forecasting of future labor needs. Hiring planning begins only when other alternatives have been considered and eliminated.