Table of Contents
|Read Chapter 12 in Applied Psychology in Talent Management.|
Read the article Data Science and Predictive Analytics Enabling Better Hiring Mechanisms for Enterprises.
Research and read at least two additional articles on human capital predictive analysis.
Using the two articles you researched on human capital predictive analysis as well as any of this week’s required or recommended articles, discuss how predictive analysis is being used to help make human resource decisions. Additionally, address how, as managers, you might use predictive analysis to create a strategic global competitiveness from a company’s human assets. Be sure to give specific company examples to support your discussion and position on the topic.
Current Human Capital Management: Predictive Analysis
The business outlook is now shifting beyond geographical boundaries with the help of technology. As a result, various industries have experienced more competition. Organizations now focus on quality and precision technology for making strategies. The HR department can measure employees’ attributes and performance to have a competitive edge over rivals. According to Mishra & Momin (2015), predictive analysis helps companies analyze events, the frame of action to take, track the performance of the alternatives, and predict the outcome. Other companies use predictive analysis to design recruitment plans by analyzing the right candidate to minimize expenses. It has a principal part in succession planning, performance management, and training and development.
As a manager, I could employ predictive analysis to design strategic global competitiveness with accurate data-driven models, particularly in recruitment and talent management. This way, I could forecast the impact of people policies on my workforce performance while getting crucial insight that would help reduce the turnover rate. Additionally, the predictive analysis would help make better managerial decisions through past data, manage risk effectively, and have a competitive edge over rivals. Hiring the best-suited candidates could raise my company’s productivity, contributing to the overall growth and competitiveness.
An example of a company that has employed predictive analysis is Hewlett-Packard (HP). The company recorded a massive employee turnover rate in some divisions over the past years, leading to high recruitment costs and loss of revenue. For instance, in 2011, HP embarked on using predictive models called the “Flight Risk” score to predict the possibility of an employee leaving their positions (Yuan, 2018). The model produced noteworthy results, identifying several causative factors, such as lack of pay rise after promotions. Consequently, the managers acquired training to decipher these results and develop strategies to retain their staff. The model also indicated promotion of some staff, such as salespeople, led them to demand high salaries as it signaled their potential to find jobs elsewhere with better conditions. The company learned how different personality types preferred certain positions and departments and their behavior. The model acted as a warning system and enabled the managers to intervene early, saving the company millions.
Mishra, K., & Momin, W. Y. (2015). HR Analytics as a Strategic Workforce Planning. International Journal of Applied Research, 1(4), 258-260.
Yuan, J. (2018). HR predictive data analytics in the era of big data. Proceedings of the 2018 International Conference on Economics, Business, Management and Corporate Social Responsibility (EBMCSR 2018). https://doi.org/10.2991/ebmcsr-18.2018.75
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|Visit the Beefsteak Case Study page to explore the Company Background Information Packet and review the Company Background video.|
Research and review credible sources to gain an understanding of the latest development of the Beefsteak Company.
Beefsteak is a fast-casual restaurant concept from acclaimed Chef José Andrés that focuses on the “unsung power of vegetables.” José Andrés is a world-renowned chef and owner of a number of restaurants. He was nominated for the 2019 Nobel Peace Prize for his work with disaster relief through his non-profit organization World Central Kitchen. Andrés’s mission is to change the world through the power of food.For this assignment, you will be developing a recruiting and a selection strategy for Beefsteak to include both managerial and staff positions. You will want to think through:
Sourcing: process of generating a pool of applicants.
Assessing: evaluation of knowledge, skills, and abilities, and other characteristics necessary to perform a job.
Employing: process of moving the desired candidate into employment
First, consider and discuss the importance of Beefsteak having a positive organizational image and brand, and the impact on recruitment. Take into consideration the importance of recruiting for diversity. Next, you will need to develop a selection process, starting with the application, recommendations, employment testing, past experience, drug screening, computer-based screening, and interviewing. Be sure to consider both managerial and staffing positions for both the recruiting and selection strategies.In this paper,Analyze Beefsteak’s company profile and business model.
Construct a recruiting strategy using the three-sequential stages.
Discuss the benefits of diversity in recruiting, Beefsteak’s brand, contemporary human capital topics, and predictive analysis.
Create a selection strategy for both managerial and staff positions.
BeefSteak Case Study
- Analyze Beefsteak’s company profile and business model.
- Construct a recruiting strategy using the three-sequential stages.
- Discuss the benefits of diversity in recruiting, Beefsteak’s brand, contemporary human capital topics, and predictive analysis.
- Create a selection strategy for both managerial and staff positions.
Beefsteak’s Company Profile and Business Model
The company provides catering services, with a menu that dwells solely on vegetables with many ingredients for customizable vegetables and grain bowls. It is known for its perfect services from top chefs in the industry. The founder has partnered with several businesses and individuals to achieve the mission of transforming the world through food. The business model prioritizes healthier food choices, reimaging vegetables and presenting them in the most appealing way possible. The differentiation is in the quality of services and food, offering hospitality to customers, and making the service fast for convenience. It serves as its competitive advantage. In culture, its core value, kindness unleashed, explains the purpose of doing good to others. The company invests heavily in social responsibility through purchasing locally-grown produce and prioritizing the community in its decisions.
The Recruiting Strategy
The first step is listing all applicants with potential and those with the ability to get transformed into leaders. To circumvent the uncertainties related to this process, the company focuses on internal recruitment. This approach could help the company establish a sustainable workforce with a strong leadership bench. There is also an opportunity for the company to obtain particular qualifications or knowledge and the experience required to perform some duties (Vasile & Xiaoyu, 2020) while maintaining its culture. A training and development strategy is vital for employees. The company should train and develop top talents.
It is necessary to ensure applicants’ knowledge and skills match the duties and responsibilities of the respective positions. Experienced managers must be available and supported with an objective performance system. To fill a vacant position, an employee must have the necessary qualifications. To assess their qualification, interviews, questionnaires, and screening of employment history and the database could be helpful. “The maximum potential in an applicant pool is realized only if the best applicants in the pool are offered, and then accept, positions” (CARLSON et al., 2002, p. 465). If employees see themselves as part of the company by getting rewarded for their achievements, their loyalty and satisfaction would likely increase substantially.
Mutual trust between the management and the staff is key to a high retention rate. Everyone should feel valued and see their contribution in the achievements towards the mission and vision. New employees should get trained and provided with the necessary resources to achieve their potential. Beefsteak relies on the quality of services offered by the staff to improve brand equity because its success is employees’ success and vice versa.
Diversity in Recruiting and its Impact on Beefsteak’s Brand
Keeping track of trends and changes in human resources is vital. For instance, demographics in recruitment have become such a crucial part of successful workforces (Stevens et al., 2008). Beefsteak should ensure representation of minorities across departments and protection of their rights. Such an approach could enable a company to achieve workplace diversity that results in the benefits resulting from a climate of respect, compassion, and openness. The company could offer networking and mentoring programs to underrepresented groups and celebrate their “diversity days”, such as Christmas for Christians and Ramadan for Muslims. Doing this could complement the company’s CSR activities.
Contemporary Human Capital Topics and Predictive Analysis
Diversity and inclusion are common in today’s corporate world, along with job stress, discrimination, diversity, safety issues, and other issues. Top companies are turning their focus on employee safety, fighting discrimination, and reducing employee burnout. Beefsteak must adopt these mechanisms to remain competitive. It could achieve this through predictive analysis, making it possible to discover effective recruitment strategies (Nijjer & Raj, 2020). Predictive analytics could aid the company identify new employees, making appropriate offers for existing ones, and understanding ways to improve their experience at the company. It could offer other benefits such as predicting and preventing employee turnover and offering significant insight on talent sourcing.
The first step should be an announcement of the vacant positions. The human resource team has to decide whether to advertise on boards, online, or within the company (for internal recruitment). Additionally, it could hire a third-party staffing agency to run external recruitment processes. Then, it should review the applicants’ resumes, application letters, and other informative documents to narrow down the list while discarding those that fail to meet the criteria. Afterward, it would be essential to compile the list of potential candidates from the first selection and conduct the initial screening of the background and other factors. This stage could involve short interviews to assess the candidates’ interests and potential, followed by in-person interviews to determine their compatibility with the company culture. The final step would be another selection which would include tests, such as polygraph tests, drug tests, and extensive background checks.
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CARLSON, K. D., CONNERLEY, M. L., & MECHAM, R. L. (2002). Recruitment evaluation: The case for assessing the quality of applicants attracted. Personnel Psychology, 55(2), 461-490. https://doi.org/10.1111/j.1744-6570.2002.tb00118.x
Nijjer, S., & Raj, S. (2020). Emerging trends in predictive HR analytics. Predictive Analytics in Human Resource Management, 197-212. https://doi.org/10.4324/9781003026822-9
Stevens, F. G., Plaut, V. C., & Sanchez-Burks, J. (2008). Unlocking the benefits of diversity. The Journal of Applied Behavioral Science, 44(1), 116-133. https://doi.org/10.1177/0021886308314460
VASILE, G. I., & Xiaoyu, Z. H. A. N. (2020). Recruitment, Selection, And Integration In The Human Resource Management. Internal Auditing and Risk Management, 59(3), 34-40.
|What is a case study?||A case study is a subcategory of research design that investigates problems and offers solutions. It can range from academic research studies to corporate promotional tools. Case studies involve examining specific cases for individuals or groups and provide practical, hands-on information. The length of a case study is typically around 500-900 words.|
|What is the difference between a research paper and a case study?||While research papers focus on a specific problem, case studies go further by examining issues closely and in-depth using different research methods. Case studies involve storytelling and typically analyze particular cases for a person or group. They are shorter than research papers, with a length of about 500-900 words. Well-designed case studies can provide valuable insights and solutions to potential customers’ pain points.|
|What are the types of case studies?||1. Historical case studies: Explore past events and offer insights and analysis based on different perspectives. <br>2. Problem-oriented case studies: Focus on solving problems and often involve theoretical situations that require in-depth examination and analysis. <br>3. Cumulative case studies: Collect information and offer comparisons to demonstrate the value of a product or service. <br>4. Critical case studies: Explore the causes and effects of a specific case. <br>5. Illustrative case studies: Describe events, investigating outcomes and lessons learned.|
|What is the structure of a case study?||A case study follows a storytelling structure with three acts: Act I – Problem, Act II – Solution, Act III – Result. It begins with an introduction, followed by rising action, a climax where transformation occurs, falling action, and a solution. The structure helps create a compelling narrative and engages the reader.|
|What is the case study format?||The case study format typically includes eight parts: 1. Executive Summary, 2. Background, 3. Case Evaluation, 4. Proposed Solutions, 5. Conclusion, 6. Recommendations, 7. Implementation, and 8. References. The format provides a comprehensive framework to present and analyze the case study effectively.|
|How to write a case study?||Writing a case study involves setting up the research, defining the objective, conducting thorough research, identifying credible sources, focusing on key issues, and integrating theory and practice. The case study should include an introduction, body, conclusion, and references. Use data and evidence to support key points and provide realistic solutions.|
|What are the criteria for a case study rubric?||A case study rubric typically evaluates eight outcomes: 1. Identifying concepts, theories, and practices in the discipline. 2. Recognizing relevant theories and principles associated with the study. 3. Evaluating legal and ethical principles and applying them to decision-making. 4. Recognizing the global importance and contribution of the case. 5. Constructing a coherent summary and explanation of the study. 6. Demonstrating analytical and critical-thinking skills. 7. Explaining the interrelationships between the environment and nature. 8. Integrating theory and practice within the analysis.|
|What is the case study outline structure?||The case study outline structure includes an introduction, body, and conclusion. The introduction presents the issue, problem, and importance of the study. The body provides background information, analysis, and strong arguments. The conclusion summarizes the main findings and offers recommendations.|
|What should be included in a case study draft?||A case study draft should include an introduction, body, conclusion, and references. The introduction sets the pace, provides background information, and states the aim of the study. The body includes unique research processes, results, quotes, and data. The conclusion presents data, implications, and possible solutions. Data and evidence should be used to illustrate key points throughout the case study.|
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