TO: Board of Directors, Executive Committee members
FROM: [Queen], Human Resource Manager
DATE: 8 July 2008
SUBJECT: Proposal for Recruiting and Selecting Staff
A common knowledge is that staffing is one of the most critical functions for the success of any organisation. Our company is not an exemption. To proactively respond to the replacements of recent turnovers as well as upsizing the caliber of talent and therefore increasing the capability of the company by means of adding new competencies set, this document proposes to adopt and implement both internal and external staff recruitment and staff selection strategies.
Greatly realizing the necessity towards institutions rethinking, as the new HR Manager, I hereby propose that the traditional role of internal recruiters be extended to external sourcing as supplemental to internal recruitment strategies. Nonetheless, sourcing using events such as job fairs and industry events and the traditional sourcing Internet through large and niche job boards will be regarded as the primary sourcing tools.
Why job fairs and industry events? Job fairs and industry events provide the opportunity to speak with many employers at one time in one space. The pros of this recruitment and selection strategy for the organisation is the acquisition of most suitable candidate based on the ready-hand comparisons of organisational strengths and weaknesses with other organisations belonging to the same industry. Only the most interested on what the companies could offer will expectedly approach the personnel in the booth.
Why online job listings? Online recruitment is increasingly becoming viable for any organisation with the growing existence of HR service providers over the Internet. The pros of online job listings are the continuity and the convenience that it provides job seekers. As well, there are specialty sites that fill specific niche.
Towards functioning as productive members of the company as possible, the accomplishment of the proposed actions purports achieving the specific objectives as follows:
ü To broaden staff recruitment and selecting opportunities based on hiring brains or intelligence
ü To fill vacant positions with the top quality hire as possible based on company-wide competency requirements
ü To tap specific performance, experience and category of candidate to target
Apart from the already identified basis of staff recruitment and selection, this paper also proposes to hire on the basis of skills required for the current job position and "the next" job and of cultural fit.
Successful candidates will be assessed based on interviews, personality tests, skills test, references, academic performance, drug screening, job simulations and on-the-job assessment. Further, the primary 'sales' strategies will be our compensation; opportunities for promotion; benefits; effective team leaders and managers; excellent culture and values; bonus and stock option opportunities; challenge, growth and learning opportunities; and employment brand and image.
As we move forward towards achieving the organisation's objectives, I believe that focusing on all internal candidates through laterals and promotions could only hurt the organisation in the long run. Although internal recruitment and selection hones strong loyalty as well as saving costs from training and induction of new employees, internal recruitment requires strong HR management and it can suffer from the fresh blood. To wit, internal recruitment does not bring new skills and competencies to the organisation.
In contrast, external recruitment brings new people to the organisation. It also allows the organisation to define the right requirements and then the organisation could select the best candidate. As well, external recruitment increases the popularity of the organisation on the job market, an initiative that improves the position of the organisation. E-recruitment and selection practices, in particular, facilitate reaching the large target and bring the qualified candidates while also providing access to virtually unlimited number of job seekers.
This is not to say that internal recruitment and selection will be totally abolished. Instead, the recruitment and selection mix will strategically minimise the disadvantages of internal recruitment on one end while maximising the advantages of external recruitment on the other end. Moreover, external recruitment has advantage in terms of biasness while internal recruitment has cost advantage. Combined, the resultants of these recruitment and selection will bring talentship optimisation for the organisation.
The approval of this proposal will be significant in ensuring the existence of competent workforce. As such, competitive edge could be bolstered based on the continuation of thinking and efficiently functioning people resource. Turnover rates could be lessened too. This condition will have a greater impact on staff morale which could lead to the generation of quality services and of satisfied customers, and the retention of the quality workforce long-term.
REVIEW OF RELATED LITERATURE Internet banking refers to the utilization of the Internet for performing transactions and payments by accessing a bank's secure website.It also pertains to the application of financial services and markets through the use of electronic communication and computation(Humphrey et al. 2004).The developments can be subdivided into two main areas. The first is the impact of Internet banking on financial services. Most economists perceive that the existence of the Internet and other electronic communication processes has significantly changed many aspects of the banking industry. A majority of the services normally provided by banks can already be provided by other financial entities (Jayaratne et al. 2001). The second main area is the major transformation that occurred on most financial markets. Nowadays, these no longer need to be related with a physical place. In effect, trading systems for foreign exchanges are gradually becoming global. All these change…