Activity No. Executive Summary 1 Introduction 2 Critical literature

Activity 2 (AC 4.1)

Table of contents:

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Contents

Page No.

Executive Summary

1

Introduction

2

Critical literature review

3

Findings

7

Recommendation & Conclusion

8

 

Executive Summary

(AC 2.1)

This business report is being done to
identify recommendations that will develop recruitment to be more efficient within
my organization – XYZ Bank and identifies
if the current mechanism would be effective enough to adopt the new change of XYZ strategy for growth which is delivered
in so many ways; Managing costs strategically, further developing the brand and
investing further in people. Alongside a literature review of Recruitment
difficulties, XYZ Branding, Traditional recruitment and the new changes.

 

The report also includes the
benchmarking for good practices in the Recruitment
process (E-Recruitment) in XYZ locally, the Process Mapping to identify
the current practices and the difficulties in the current process, Managers
questionnaire to identify the status of the recruitment process.

 

This report provides an overview of
how recruitment is being used and provides an insight of the benefits and
challenges of using different approaches and technologies.

 

The report includes the findings and recommendations
for the organization from the results of the literature review, process
mapping, benchmarking exercise and Senior Managers questionnaire.

 

Introduction

XYZ
is one of the world’s largest banking and financial services organizations. They
serve around 38 million customers through four global businesses: Retail
Banking and Wealth Management, Commercial Banking, Global Banking and Markets,
and Global Private Banking. Their network covers 67 countries and territories
in Europe, Asia, the Middle East and Africa, North America and Latin America.

Since
XYZ’s corporate and business strategy is to become the Leading International
Bank and aiming for growth, the HR strategy was adjusted accordingly to
accommodate and help in achieving the changes in the overall vision.

XYZ has all the ingredients to
deliver this strategy. To achieve their aspirations, they act with courageous
integrity, allowing people to make decisions and trusting them to maintain the
high ethical standards XYZ is known for. From branch to boardroom, their
behavior must be led by their values and ethics.

 

XYZ
looks for people who are ambitious and want to develop their career while
making a strong contribution to XYZ’s long-term, sustainable growth. To achieve
this growth in the right way, XYZ places great emphasis on their values and is committed to applying the highest
standards.

Recruitment currently goes in both direction of hiring from outside but
still do more focus on the internal development by continues learning,
development programs, XYZ Business School, and mentoring program. 

 

Jobs within XYZ are evaluated using
the well –established “Hay” method of job evaluation. Evaluated positions are
assigned grades, which have corresponding salary ranges. These ranges are
determined through competitor market analysis. To ensure compensations and
benefits packages remain competitive the Bank participates in salary surveys
each year, conducted by independent consultants. The salary structure is then
reviewed to ensure the Bank maintains market competitiveness.

 

 

(AC
2.2)

Literature Review

The literature review is to give an outline of Recruitment and
Talent management, including an assessment of the traditional recruitment
strategies, and the initiatives made to overcome the issues confronted.

The strategy for the review was a desk-based analysis of research and assessment literature. Academic articles through online searches
utilizing significant databases (Cinahl, Cochrane, ERIC, CIPD). Keyword searches
were done utilizing a combination of terms including ‘recruitment’, ’employee
branding’, and ‘online recruitment’. Relevant Journals were utilized, such as
‘Personnel Today’ and ‘People Management’.

The review incorporated all studies that met criteria, and
selections were made in view of the criteria, these being relevance and
quality. Relevance was distinguished if the study gave understanding into the
issues about recruitment or not, and whether these studies were about attracting
candidates rather than the full recruitment processes. Quality was assessed by
identifying the source of the article, whether it had been reviewed and its
inclusion in other studies.

The review was not confined to those research activities of an
academic nature, however, the greater part of the searches looked to
peer-reviewed journals as sources of the publications. In choosing to study
non-peer-reviewed publications the author ensured they were of high enough
quality and relevance to justify inclusion. The scope of sources included;
systematic and non-systematic reviews, other published research, grey
literature, white papers and policy documents, reports, evaluations,
cost-effectiveness studies, literature reviews, and
bibliographies.

Newspaper and magazine articles were also included, particularly
in looking at e-recruitment, as the development of this technology has not seen
many studies done on the subject to date. The Internet additionally offered a
plenty of valuable research findings, but limited resources did not allow a
full search for these types of items, so there is minimal inclusion within the
review.

The database searches and
other sources returned more than 2,500 items. Roughly 1000 were on subjects not
relevant to this report; 1,400 were relating to the wider recruitment
processes, only available as abstracts, or from dubious sources. This left number
of items was used in the final review.

The author feels the methodology carries with it few
restrictions.

Due to the broad nature of the subject being searched; finding all
the relevant articles through systematic database searching was difficult. With
many studies contained in multiple
literature databases and the inaccurate functioning of keywords as search
tools, it may be that useful studies that contained information pertaining to
the subject, but not explicitly described, were overlooked.

The findings listed in the review, as in most literature
reviews, may also be subject to “publication bias” and only studies that were
providing positive effects were offered for publication.

 

(AC
1.1 and 2.2)

Benchmarking:

Benchmarking can give facts to answer questions. It can give
data to indicate what can be accomplished. maybe more vital, benchmarking can advise
how to accomplish the same type of results! Benchmarking gives the external
references and the good practices on which to base assessment and to design
work processes.

There are essentially three types of benchmarking: strategic, data-based, and process-based benchmarking.
They differ based on the type of data you’re looking for. Strategic
Benchmarking looks at the strategies that companies use to compete.
Benchmarking to make improvements in business process performance generally
focus on uncovering how well other companies perform in comparison with you and
others, and how they achieve this performance. This is the focus of Data based
and Process-based Benchmarking.

When it is known how others are doing, data is utilized with a
specific end goal to understand how the organization
can develop. The clearest way is by assessing
where there are gaps between the organization’s
performance and that of the benchmarking partners. These assessments can be
used to identify the good practices for the organization
to adopt.

A benchmarking exercise was done to look at the way other financial
organization locally manage their
recruitment process and to have some benchmark data to identify how long the
process takes and how they utilize the E-recruitment
via XYZ careers website. 15 local organizations
were contacted by telephone and questions that were asked included their time
to recruit, the frequency of
advertisement on the careers website and when references were sought.

The benchmarking was done by using the telephone surveys, which
provides methods of collecting a snapshot of the views of many people. The outcome
can be summarized in the form of statistics allowing the measurement of such
things as current performance, possible future performance/expectation,
attitudes, and opinions. A mix of
qualitative and quantitative data can be collected depending on the questions
asked, for this exercise quantitative data was gathered.

The advantages of this method are that
it is a cheap alternative, has a higher
response rate than some other techniques, is easy to manage and can be done in
the short time. Disadvantages were
difficulty in contacting people, and people as seeing the phone calls as
intrusive. It was also identified when developing the questions, they need to
be short and brief.

 

Managers Questionnaire:

A set of questions was utilized to find out individuals’
opinions on specific points. The value
depends on asking the right questions and having the right response choices.
Responses are normally chosen from a suggested range. Questionnaires are either
self-completed, e.g. postal surveys – posted directly to chosen participants or
administered interactively with someone asking the questions and recording the
answers.

They would give methods of collecting a snapshot of the views of many people. The results can be
coded, analyzed and summarized in the
form of numbers, percentages and sample statistics, which allow responses to be
expressed as quantified measures. Predominantly quantitative where respondent
is choosing from a range of responses although some open-ended questions will
also generate qualitative data

This strategy was used as the author was searching for wide
measures of current performance i.e. current satisfaction, eliciting people’s
perceptions of issues, identifying priorities for future service delivery.

The advantages of using this method resulted are easy to assimilate and
communicate, results can be presented in different formats, can incorporate
several issues in one survey. Disadvantages
poor response rates particularly postal surveys (may need incentive, or
reminder), sample bias if too small and/or unrepresentative, is it a true
snapshot of current opinion, structured approach to survey, poor design can
produce misleading results

The questionnaire was piloted before distribution around the
offices by using a small group of staff available, to identify any issues with
the questions. Some investigative work had also been conducted through a focus
group in the development of the questionnaire, and a mixture of closed
questions, where people choose an answer, and open questions, where people can
provide reasons were developed.

To ensure a good response rate was accomplished the
questionnaires were kept relatively short and simple and it was made easier to
reply to the questionnaires being
collected once completed. Assuring people of confidentiality and data
protection was important at this point.

The sample group was drawn up to include representatives of the
four Divisions of the organization in different areas, to ensure recruitment services
were examined across the organization. A group of 30 representatives was identified to represent the senior managers
in the organization.)

The research attempted to minimize response bias through seeking
the trust of the respondents in ensuring confidentiality was assured. It is
also possible for experimenters to deliberately or inadvertently write survey
questions that bias people to respond the way they want them to. (Salant and
Dillman (1994), Frankfort-Nachmias and Nachmias (1996))

Face to face interviewing would have ensured that questionnaires
were effectively completed and managed the flexibility required when doing
research on concepts or when using different stimuli. However, the time restrictions
of the author and managers in the organization
did not allow this method to be used.

Process Mapping
Exercise:

The process is a progression of associated steps or
actions to achieve a result. Process Maps and flow Charts are the most commonly
used methods for designing and analyzing
processes and are widely used of the entire problem-solving
tools. By representing the logical steps of a process, promotes a greater and
shared understanding of ‘how the work is done’ and this presents opportunities
for identification of problems and nonvalue-adding
steps, which can promote process improvements

The author facilitated the session, guiding the team to identify
the steps involved in the recruitment process. Once the mapping stage was
completed the team was supported to
identify the areas that were hold-ups to
the process, areas of good practice and identify solutions to identified
problems in the process.

The outcomes were positive and enabled the team to get an overview
of other responsibilities and the overall processes the recruitment department
followed. The process is facilitated to allow the participants to feel safe and
able to contribute.

 

(AC 3.1)

Findings

Literature Review:

The report demonstrates
that online recruitment has established itself as a significant part of the
recruitment strategy and practice of a wide range of organizations.

The Internet is currently being used for advertising and
facilitating the application process. Use of internet-based systems to track
and manage candidate applications are becoming increasingly popular, especially
amongst larger organizations and are
providing huge benefits in terms of efficiency, cost, and capability to monitor and report on recruitment activities.

Recruitment is a costly business and the review has identified
that e-recruitment is a good option to save
money by reducing the time to recruit and cut the administrative processes involved in recruitment. Researchers also
identified the need to enhance and develop employer branding to allow more
applicants to be attracted to the organization
and apply for vacancies, whether that be
by traditional or by e-recruitment
methods.

Process Mapping:

Process Mapping was very effective in identifying areas where
there were potential issues.

Hold-ups were identified at the shortlisting and pre-interview stages. References and check stages. From the results
of the process mapping, a bench Marking exercise was planned to get further
information on the areas of hold-ups and
difficulties within the process.

Benchmarking:

A benchmarking exercise was conducted to identify the good
practices and target of the organization. A telephone survey was conducted with
questions being asked of Recruitment Managers
to assess the practice across the area. The time to appoint to a post from
advertising the post to a start date being arranged was very long. Also, the notice
periods vary dependent on grade from 1 month to 3 months and this would not
give an accurate indication of recruitment processes.

Managers Questionnaire:

To get some feedback from the users of the recruitment service
internally a questionnaire was developed and circulated to a sample of senior managers
with a responsibility for recruiting staff. Questions were asked about the
service and the difficulties experienced and feedback requested to identify
what would make the process more effective for managers.

The questionnaire identified the following results:

–      
How often do you use
the recruitment Department? 100% percent of the respondents utilized the department at least yearly, with
50 percent utilizing at least 6 monthly.

–      
Are you happy with
the service you receive? 80% percent of respondents identified they were not
happy with the service they received.

–      
What are your main
complaints about the service? Slow process, time it takes to get the documents,
timing of advertising,

–      
Would you prefer to
receive electronic applications or paper? 80 percent
of the respondents identified they would prefer electronic applications,
stating they were easier to access, cut down the waiting time for them to be
sent to another site, the 25 percent who preferred paper copies felt they were
easier to look the applications on the computer could be difficult.

–      
If available, would
you be happy with shortlisting candidates online? 80 percent of respondents were
happy to shortlist candidates online.

–      
Would you be able to
identify an interview date when advertising a post?

–      
Do you check all
candidates’ references after the interview?

–      
Could you wait until
the successful candidate was identified and then request references?

–      
How long do you feel
the recruitment process should take, advertisement to confirmation of a start
date? The answers range between 4-8 weeks

–      
How long does it
usually take? The average time that the respondents felt it took was 10-12
weeks

(AC 3.1)

Conclusions:

This report provides an insight into
how recruitment and e-recruitment are
being used and provide the benefits and challenges of using
e-recruitment technologies.

From the results of the benchmarking exercise, it shows that recruitment times are slow, and process
mapping identified hold ups to the recruitment process in areas of shortlisting and interviewing due to the time is
taken to complete the process.

Process Mapping identified that references are being requested
for all candidates, whether they are
successful or not. This was time-consuming
for recruitment staff and was costly as well. The e-recruitment method aims to save
time and money.

Recommendations:

Recommendations for the organization
from the results of the literature review, process mapping, benchmarking
exercise and Senior Managers questionnaire are

–      
E-recruitment to be
fully introduced alongside existing recruitment methods for all posts, with an
aim to reduce recruitment costs by 7% per year, which is an average year will mean savings of more than $200,000

–      
Request references
for successful candidates only.

–      
Managers to Identify
an interview date on the advertisement

These interventions if applied to the recruitment process and
implemented in the department should allow

–      
The reduction from
12 weeks to 6 weeks for the length of time it takes to make an appointment.
With approximately of 200 positions advertised every year, this would mean an
extra 1700 weeks during which new employees have started already working in the
new jobs instead of waiting for the red tape before they can start work.

–      
Requesting
references after interviews with
successful candidates only

–      
Resourcing is
conducted both internally and externally in an open, fair and transparent
manner and reviewed regularly so that supply is sustainable and inclusive of
all available talent.