Problem
The Micron Company, Inc. has just completed a staffing initiative that resulted in hiring fifty new employees. They are interested in developing a series of metrics showing how effectively and efficiently their staffing system is operating. They are also concerned with determining whether their turnover rates are excessive. For this activity, please respond to the following questions.
Your Activity responses should be both grammatically and mechanically correct and formatted in the same fashion as the Activity itself. If there is a Part A, your response should identify a Part A, etc.
In addition, you must appropriately cite all resources used in your response and document them in a bibliography using APA style. (A 3-page response is required.)
Part A Consider the following information regarding the fifty new hires.
1.Initially 2500 applied.
2.The number was reduced to 500 candidates, then to 200 finalists that resulted in 65 offers, 50 of whom became new hires.
3.After six months on the job, 35 remained; after one year on the job, 15 remained.
4.The applicants were processed in on an average of 28 days, the candidates in 35 days, the finalists in 42 days, the offers made in 49 days, the acceptances received in 56 days, and the new hires began in 58 days.
Based on this information, calculate or answer the following.
1. Applicant/Vacancy Ratio
2. Yield Ratios
a.Candidates to Applicants
b.New Hires to Applicants
c.Offers Accepted to Offers Received
3.Time Lapse
a.Average Days to Offer
b.Average Days to Start
4.Retention Rates
a.After Six Months
b.After One Year
c.What is the significance of the retention rates?
Part B What was the turnover rate for fiscal year 2003 if the average number of employees was 250, and 70 employees left the company? What might this resulting number signify for Micron?