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Explain How a Human Resources Department Defines Selection

question 33

Essay

Explain how a human resources department defines selection. List the four common categories of selection procedures used by companies. Specify which of these four generally does the best job of predicting applicants' future job performance.


Definitions:

Cash Flows

The cumulative sum of funds moving into and exiting a company, notably influencing its liquidity.

Cash Outflow

Outgoing payments in cash from a company to cover expenses, investments, and financing activities.

Sunk Costs

Costs that have already been incurred and cannot be recovered, which should not influence ongoing investment decisions.

Opportunity Costs

The cost of opting for one alternative over another, typically representing the benefits one misses out on when choosing a particular option.

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