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Scenario 10-1 For four months you have been employed as the part-time HRM for TS Inc., a small Canadian aviation company.In the past, recruitment and selection rested on the shoulders of the president and, like most small companies, TS Inc.used employee referrals and an informal interview process in selecting employees.Since you have been hired, you have guided management through several stages of the recruitment and selection process to hire an aircraft maintenance engineer.TS Inc.has used proper selection methods, such as screening, testing, and structured interviews, but is not sure about how to integrate the data from these various sources.In the past, the president relied on his gut feeling about applicants and made poor hiring decisions.
-Refer to Scenario 10-1.Currently, TS Inc.is using objective sources such as test scores to collect applicant information.How is this approach defined
Total Surplus
The sum of consumer surplus and producer surplus, representing the total benefit to society from the production and consumption of goods and services.
Transplant Organs
Organs removed from one body and placed in another's body for the purpose of replacing a missing or defective organ.
Market
An economic system where goods and services are freely exchanged between buyers and sellers under competitive conditions.
Efficiency
The state or quality of being able to achieve maximum productivity with minimum waste or expense.
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