Selection Ratio

Examples of Selection Ratio in the following topics:

• Employee Selection

  • However, it most commonly refers to the selection of workers.
  • A selection system should depend on job analysis.
  • Two major factors determining the quality of a newly hired employee are predictor validity and selection ratio.
  • The selection ratio (SR) is the number of job openings (n) divided by the number of job applicants (N).
  • Break down the human resource selection process as organizations pursue new employee talent

• Ratio Analysis

  • Financial ratios in the corporate setting usually come from a company's balance sheet and income statement.
  • These can include profitability ratios, efficiency ratios, activity ratios, and debt ratios.
  • Ratios used to determine a project's health include operating margins, profitability margins, efficiency ratios, and debt.
  • All of these ratios give the project manager a better sense of the health of the project.
  • Recognize the importance of ratios and ratio analysis in financial assessment and project control

• Strategic Management

  • Strategy Formation – Following the analysis phase, the organization selects a generic strategy (for example, low-cost, differentiation, etc.) based upon the value-chain implications for core competence and potential competitive advantage.
  • Financial ratios should be calculated and performance reviews delivered to relevant personnel and departments.

• The Perceptual Process

  • Personality - Personality traits influence how a person selects perceptions.
  • Size - A larger size makes it more likely an object will be selected.
  • Motion - A moving perception is more likely to be selected.
  • Novelty and familiarity - Both of these increase selection.
  • After certain perceptions are selected, they can be organized differently.

• Defining Decision Making

  • Decision making is the mental process of selecting a course of action from a set of alternatives.
  • Since doing nothing or remaining neutral is usually among the set of options one chooses from, selecting that course is also making a decision.
  • Problem analysis involves framing the issue by defining its boundaries, establishing criteria with which to select from alternatives, and developing conclusions based on available information.
  • A major part of decision making involves the analysis of a defined set of alternatives against selection criteria.

• The Importance of Productivity

  • Productivity is the ratio of total output to one unit of total input; high productivity means larger capital gains.
  • It is a ratio of actual output (production) to what is required to produce it (inputs).

• Equity Theory

  • According to the theory, equity structure in the workplace is based on the ratio of inputs (employee contributions) to outcomes (salary and other rewards).
  • Equity is measured by comparing the ratios of contributions and benefits of each person within the relationship.
  • Partners do not have to receive equal benefits (such as receiving the same amount of love, care, and financial security) or make equal contributions (such as investing the same amount of effort, time, and financial resources), as long as the ratio between these benefits and contributions is similar.

• Employee Recruitment

  • Recruitment is the process of attracting, screening, and selecting employees for an organization.
  • The different stages of recruitment are: job analysis, sourcing, screening and selection, and onboarding.
  • Screening and selection is the process of assessing the employees who apply for the job.
  • After screening and selection, the best candidate is selected.

• Types of Decisions

  • The potential negative consequences of selecting any alternative outweigh the benefits of selecting one.
  • Problem solving requires problem definition, information analysis and evaluation, and alternative selection.

• Leadership and Decision Making: The Vroom-Yetton-Jago Model

  • The Vroom-Yetton-Jago model is a contingency approach to group decision making that is designed specifically to help leaders select the best approach to making decisions.
  • It proposes a method for leaders to select the right approach to making a decision in a given set of circumstances.
  • CI – Consultative Type 1: The leader seeks input from select followers individually based on their relevant knowledge.
  • Are there technical or rational grounds for selecting among possible solutions?