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ASSIGNMENT:
The small and medium enterprises (SMEs) are considered as backbone of economy in all regions of the world. They simply accelerate economic activity, job creation and capital formation for the common good rather than increasing surplus for the few. The small and medium enterprises (SMEs) are also the major sector in consuming the non-agricultural work force of any country.
There are approximately 2 million Micro, Small and Medium Enterprises in Pakistan. These include 400,000 manufacturing units, 600,000 Service sector units and 1 million Trade sector units. SMEs (Manufacturing units)
contribute approximately 34 billion Rupees a year to GDP. They constitute nearly one third (29%) of the total value of manufacturing in the country.
Most of the advanced countries Like Japan and Korea are managing more than 70% of their GDP and Pakistan is lacking in this sector as huge progress can be made in this sector What does it really take to make a business successful? This is not an easy question to answer, as each entrepreneur has a different definition of success. The answer of success is too simple: “The key to a successful
business is customer service and retention. That is so much more important than marketing. An entrepreneur is one man show, who has to make all decision regarding the enterprise (Finance, Procurement, Marketing, HR, Supply chain etc).
Considering the fact that you are the head of an enterprise (Younis Marble industry), who are going to launch themselves in the precious stone/Marble sector at a medium scale level, Which acclaim high fame for its enduring colors, finest reshaping abilities and durability etc. The newly established enterprise facing the problem of recruiting the right candidates for its right jobs as it is a new venture.
Being a SME student and having the knowledge of selection and recruitment process, what would you suggest to enterprise (Younis Marble industry) for the selection of right candidate in the minimum possible time and in a cost effective way?

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anybody please help

Mc110202823

SME MANAGEMENT (MGT601)

ASSIGNMENT NO. 02

Solution

 

 

Being a SME student and having the knowledge of selection and

recruitment process, what would you suggest to enterprise (Younis

Marble industry) for the selection of right candidate in the minimum

possible time and in a cost effective way?

answer

Some suggestions from my side for the enterprise (Younis

Marble industry)  for the selection of right candidate in the minimum possible time and in a cost effective way. These suggestions are given below.

 

The criteria that enterprise look for will depend on the nature of the job but it is important to define exactly what enterprise really want from ideal candidate before start the short listing process. Before start enterprise has two lists. The absolutely essential criteria and he desirable criteria. Try to avoid the temptation to put all desirable criteria in the essential category. Enterprise should have approximately double the essential criteria in list of desirables. Try to flexible and remember that if (Younis Marble industry) take too many people out initially may miss the best candidate for the role.
To do this work In minimum possible time it is helpful for the enterprise to check the educational qualification, professional qualification, professional experience and evidence of competencies of all candidates and to keep thing fair it is a good idea to come up with a rating system and rank candidates according to each defined criteria. It is good idea to setup a single spreadsheet to make things easier for (Younis Marble industry) to keep track, or can also utilize an applicant tracking system


To selection of right candidate in the minimum possible time and in a cost effective way the process easier enterprise can use the following steps:

  1. 1.             Start with an idea about the number of candidates that want to interview -.

 

  1. 2.             Conduct shortlist in stages - Do an initial shortlist based on easy to identify essential criteria. If there is a large volume this can be delegated to another team member. Once the first shortlist is complete then carry out additional stages to refine the list further based on desirable criteria.

 

 

  1. 3.             Set minimum criteria as stage 1 – Company should Set there Educational, Professional qualifications and Experience minimums and produce a list of all the candidates who meet the minimum criteria first. This will save a lot of time. As company go through this list, rank each candidate based on your essential factors and record the results in a spreadsheet. This will help  later should enterprise need to add more applicants back into the shortlist.

 

  1. 4.             Exclude the inconsistent applications as stage 2 - For example, if company looking to fill a permanent role and want the job holder to commit for the long term, company should  ignore candidates with vague employment history and frequent job changes straightaway. Obviously this wouldn't apply for short term contract roles and may even want to reverse the criteria for these types of job.

 

 

  1. 5.             Last stage filtering - If there are still too many interview candidates in the shortlist after stages one and two, company can begin to filter them through the 'desirable' non essential qualities for the job. These can be things like sector exposure (have they worked in the same environment before), recent highly relevant training, experience with the company's main systems, directly applicable technical knowledge, etc.

 

  1. 6.             Interview - Once company have short listed as much as possible the interview should be designed to affirm the shortlist criteria and also to look into personality fit, expectations and other checks to evaluate the applicant's compatibility.

 

 

  1. 7.             Be flexible but stick to your criteria - It is impossible to expect that a candidate will satisfy ALL the requirements while having perfect education, professional qualifications and experience. Recognize that enterprise may have to deviate slightly, but to eliminate bias, try to make the decision based on the person who most closely matches the criteria you have specified for the job.

 

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