Manpower acquisition means planning the job requirements and recruiting the employees according to the company’s needs, it is one of the key functions of HR. Manpower acquisition begins by recruiting a candidate and ends by retaining the employee.
Here is the list of HR functions that are related to manpower acquisition.
1. Human Resource Planning
Human resource planning is about identifying the requirements of the job within a company and placing the right candidate for the right job. Human resource planning is also called manpower planning (or) workforce planning.
It will be done by looking at the current labour supply and forecasting labour demand.
I. Analyzing the Present Man Power Supply: To analyze the current manpower supply and the employee data of each department in the organization, managers of each department have to provide their manpower requirements along with the job description and specifications.
ii. Forecasting the Manpower: Once the labor data is collected, it will be analyzed with the company’s ongoing projects and the number of employees required will be calculated.
Once the manpower estimation was done the KRAs and KPIs will be set for each employee.
KRA stands for “Key Result Areas” i.e major tasks that an employee has to perform in a job and that performance is measured by KPI stands for “Key Performance indicators”.
KRA for HR Recruiter
Recruiting employees each month as per the organization’s needs
KPI for HR Recruiter
Number of employees were recruited in a month.
2. Manpower Budgeting
After estimating the manpower requirements, the next step is budgeting. It can be done by the company’s business plans, investment capacity, market conditions, skills required by the employees, expected returns, etc.
After analyzing everything above, the salary of each position will be decided and the budget should be prepared based on that, and it should be approved by management.
3. Sourcing Candidates (Internal and External)
Sourcing is about finding the right candidates based on job specifications. This can be done in two ways: internal and external.
Internal sourcing involves promoting and transferring the existing employees to the candidates based on their performance and skills.
External sourcing is about getting candidate data through advertising in job portals and newspapers, manpower consultants and on-campus interviews, etc.
4. Screening Applications
Once the applicant’s data has been collected, their applications will be reviewed and the appropriate applicants will be called up for the interview process.
Candidates will be screened by reviewing their qualifications, skills, and experience in accordance with the requirements of the job.
5. Interviewing Candidates
After screening the candidates, the interview schedule will be prepared and communicated to the candidates.
Interviews may be conducted over the telephone or directly. The interview is about getting information from employees about their qualifications, past experiences, skills, and personal information.
If the candidate appears to be a good candidate for the position, the next step is salary negotiation.
6. Salary Negotiation
Salary negotiation is a process of discussion about salary and other benefits offered to employees. Depending on the offer from the employer, the candidate may negotiate the salary. It includes basic wage, statutory benefits, annual salary raise, etc.…
If both parties agree to a specific amount then it leads to the joining formalities.
7. Issuing Offer Letters
After selecting the candidate companies will issue the offer letters citing the position and salary details agreed upon in the interview. The candidate should acknowledge the offer letter either by email (or) by signing a copy of the offer letter.
8. Background Verification
Prior to issuing appointment letters, companies will conduct background checks to confirm employment history, education, and criminal records.
If the candidate passes the background check, he/she will be given the appointment letter.
Companies can conduct a background check even after hiring the employee as well if they get doubts about that employee.
These days, companies are taking the help of various recruitment software for the background verification process.
9. Issuing Appointment Letters
After successful background verification appointment letters will be issued to the candidate. It consists of the complete salary structure, and the organization’s terms and conditions.
The employee needs to sign a copy of the appointment letter stating that he/she accepts all the terms and conditions of the company.
Appointment letter acts as a legal document for both the employee and employer.
10. Onboarding & Induction
After the candidate is successfully hired by the company then the next step is onboarding & induction. This is a process of introducing the new hire to other employees and familiarizing the employee with the company’s objectives, policies, and culture.
11. Gap Analysis
Once the new employee is acquired, the next step is to determine if the employee’s skills actually match the job. If training is needed to develop the employee, training will be given.
12. Retention Management
Balancing labour supply and demand is another important task in HR management. Every time an employee leaves the position, that position should be replaced by the right candidate who is qualified for that position.
To increase the employee retention rate, an appropriate work environment must be created, along with adequate training and development, good benefits, and recognition programs.