Activity 2 (AC 4.1)Table of contents: 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 toidentify recommendations that will develop recruitment to be more efficient withinmy organization – XYZ Bank and identifiesif the current mechanism would be effective enough to adopt the new change of XYZ strategy for growth which is deliveredin so many ways; Managing costs strategically, further developing the brand andinvesting further in people. Alongside a literature review of Recruitmentdifficulties, XYZ Branding, Traditional recruitment and the new changes. The report also includes thebenchmarking for good practices in the Recruitmentprocess (E-Recruitment) in XYZ locally, the Process Mapping to identifythe current practices and the difficulties in the current process, Managersquestionnaire to identify the status of the recruitment process.
This report provides an overview ofhow recruitment is being used and provides an insight of the benefits andchallenges of using different approaches and technologies. The report includes the findings and recommendationsfor the organization from the results of the literature review, processmapping, benchmarking exercise and Senior Managers questionnaire. IntroductionXYZis one of the world’s largest banking and financial services organizations. Theyserve around 38 million customers through four global businesses: RetailBanking and Wealth Management, Commercial Banking, Global Banking and Markets,and Global Private Banking. Their network covers 67 countries and territoriesin Europe, Asia, the Middle East and Africa, North America and Latin America.SinceXYZ’s corporate and business strategy is to become the Leading InternationalBank and aiming for growth, the HR strategy was adjusted accordingly toaccommodate and help in achieving the changes in the overall vision.XYZ has all the ingredients todeliver this strategy.
To achieve their aspirations, they act with courageousintegrity, allowing people to make decisions and trusting them to maintain thehigh ethical standards XYZ is known for. From branch to boardroom, theirbehavior must be led by their values and ethics. XYZlooks for people who are ambitious and want to develop their career whilemaking a strong contribution to XYZ’s long-term, sustainable growth. To achievethis growth in the right way, XYZ places great emphasis on their values and is committed to applying the higheststandards. Recruitment currently goes in both direction of hiring from outside butstill do more focus on the internal development by continues learning,development programs, XYZ Business School, and mentoring program.
Jobs within XYZ are evaluated usingthe well –established “Hay” method of job evaluation. Evaluated positions areassigned grades, which have corresponding salary ranges. These ranges aredetermined through competitor market analysis. To ensure compensations andbenefits packages remain competitive the Bank participates in salary surveyseach year, conducted by independent consultants. The salary structure is thenreviewed to ensure the Bank maintains market competitiveness. (AC2.2) Literature ReviewThe literature review is to give an outline of Recruitment andTalent management, including an assessment of the traditional recruitmentstrategies, 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 searchesutilizing significant databases (Cinahl, Cochrane, ERIC, CIPD). Keyword searcheswere done utilizing a combination of terms including ‘recruitment’, ’employeebranding’, and ‘online recruitment’. Relevant Journals were utilized, such as’Personnel Today’ and ‘People Management’.The review incorporated all studies that met criteria, andselections were made in view of the criteria, these being relevance andquality. Relevance was distinguished if the study gave understanding into theissues about recruitment or not, and whether these studies were about attractingcandidates rather than the full recruitment processes.
Quality was assessed byidentifying the source of the article, whether it had been reviewed and itsinclusion in other studies.The review was not confined to those research activities of anacademic nature, however, the greater part of the searches looked topeer-reviewed journals as sources of the publications. In choosing to studynon-peer-reviewed publications the author ensured they were of high enoughquality and relevance to justify inclusion. The scope of sources included;systematic and non-systematic reviews, other published research, greyliterature, white papers and policy documents, reports, evaluations,cost-effectiveness studies, literature reviews, andbibliographies.Newspaper and magazine articles were also included, particularlyin looking at e-recruitment, as the development of this technology has not seenmany studies done on the subject to date. The Internet additionally offered aplenty of valuable research findings, but limited resources did not allow afull search for these types of items, so there is minimal inclusion within thereview.
The database searches andother sources returned more than 2,500 items. Roughly 1000 were on subjects notrelevant to this report; 1,400 were relating to the wider recruitmentprocesses, only available as abstracts, or from dubious sources. This left numberof items was used in the final review.The author feels the methodology carries with it fewrestrictions.
Due to the broad nature of the subject being searched; finding allthe relevant articles through systematic database searching was difficult. Withmany studies contained in multipleliterature databases and the inaccurate functioning of keywords as searchtools, it may be that useful studies that contained information pertaining tothe subject, but not explicitly described, were overlooked.The findings listed in the review, as in most literaturereviews, may also be subject to “publication bias” and only studies that wereproviding positive effects were offered for publication. (AC1.1 and 2.2)Benchmarking:Benchmarking can give facts to answer questions. It can givedata to indicate what can be accomplished. maybe more vital, benchmarking can advisehow to accomplish the same type of results! Benchmarking gives the externalreferences and the good practices on which to base assessment and to designwork 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. StrategicBenchmarking looks at the strategies that companies use to compete.Benchmarking to make improvements in business process performance generallyfocus on uncovering how well other companies perform in comparison with you andothers, and how they achieve this performance. This is the focus of Data basedand Process-based Benchmarking.When it is known how others are doing, data is utilized with aspecific end goal to understand how the organizationcan develop.
The clearest way is by assessingwhere there are gaps between the organization’sperformance and that of the benchmarking partners. These assessments can beused to identify the good practices for the organizationto adopt.A benchmarking exercise was done to look at the way other financialorganization locally manage theirrecruitment process and to have some benchmark data to identify how long theprocess takes and how they utilize the E-recruitmentvia XYZ careers website. 15 local organizationswere contacted by telephone and questions that were asked included their timeto recruit, the frequency ofadvertisement on the careers website and when references were sought.The benchmarking was done by using the telephone surveys, whichprovides methods of collecting a snapshot of the views of many people. The outcomecan be summarized in the form of statistics allowing the measurement of suchthings as current performance, possible future performance/expectation,attitudes, and opinions.
A mix ofqualitative and quantitative data can be collected depending on the questionsasked, for this exercise quantitative data was gathered.The advantages of this method are thatit is a cheap alternative, has a higherresponse rate than some other techniques, is easy to manage and can be done inthe short time. Disadvantages weredifficulty in contacting people, and people as seeing the phone calls asintrusive. It was also identified when developing the questions, they need tobe short and brief. Managers Questionnaire:A set of questions was utilized to find out individuals’opinions on specific points. The valuedepends on asking the right questions and having the right response choices.Responses are normally chosen from a suggested range.
Questionnaires are eitherself-completed, e.g. postal surveys – posted directly to chosen participants oradministered interactively with someone asking the questions and recording theanswers.They would give methods of collecting a snapshot of the views of many people. The results can becoded, analyzed and summarized in theform of numbers, percentages and sample statistics, which allow responses to beexpressed as quantified measures. Predominantly quantitative where respondentis choosing from a range of responses although some open-ended questions willalso generate qualitative dataThis strategy was used as the author was searching for widemeasures of current performance i.e. current satisfaction, eliciting people’sperceptions of issues, identifying priorities for future service delivery.
The advantages of using this method resulted are easy to assimilate andcommunicate, results can be presented in different formats, can incorporateseveral issues in one survey. Disadvantagespoor response rates particularly postal surveys (may need incentive, orreminder), sample bias if too small and/or unrepresentative, is it a truesnapshot of current opinion, structured approach to survey, poor design canproduce misleading resultsThe questionnaire was piloted before distribution around theoffices by using a small group of staff available, to identify any issues withthe questions. Some investigative work had also been conducted through a focusgroup in the development of the questionnaire, and a mixture of closedquestions, where people choose an answer, and open questions, where people canprovide reasons were developed.To ensure a good response rate was accomplished thequestionnaires were kept relatively short and simple and it was made easier toreply to the questionnaires beingcollected once completed. Assuring people of confidentiality and dataprotection was important at this point.The sample group was drawn up to include representatives of thefour Divisions of the organization in different areas, to ensure recruitment serviceswere examined across the organization. A group of 30 representatives was identified to represent the senior managersin the organization.)The research attempted to minimize response bias through seekingthe trust of the respondents in ensuring confidentiality was assured.
It isalso possible for experimenters to deliberately or inadvertently write surveyquestions that bias people to respond the way they want them to. (Salant andDillman (1994), Frankfort-Nachmias and Nachmias (1996))Face to face interviewing would have ensured that questionnaireswere effectively completed and managed the flexibility required when doingresearch on concepts or when using different stimuli. However, the time restrictionsof the author and managers in the organizationdid not allow this method to be used.Process MappingExercise:The process is a progression of associated steps oractions to achieve a result.
Process Maps and flow Charts are the most commonlyused methods for designing and analyzingprocesses and are widely used of the entire problem-solvingtools. By representing the logical steps of a process, promotes a greater andshared understanding of ‘how the work is done’ and this presents opportunitiesfor identification of problems and nonvalue-addingsteps, which can promote process improvementsThe author facilitated the session, guiding the team to identifythe steps involved in the recruitment process. Once the mapping stage wascompleted the team was supported toidentify the areas that were hold-ups tothe process, areas of good practice and identify solutions to identifiedproblems in the process.The outcomes were positive and enabled the team to get an overviewof other responsibilities and the overall processes the recruitment departmentfollowed. The process is facilitated to allow the participants to feel safe andable to contribute.
(AC 3.1)FindingsLiterature Review:The report demonstratesthat online recruitment has established itself as a significant part of therecruitment strategy and practice of a wide range of organizations.The Internet is currently being used for advertising andfacilitating the application process. Use of internet-based systems to trackand manage candidate applications are becoming increasingly popular, especiallyamongst larger organizations and areproviding 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 identifiedthat e-recruitment is a good option to savemoney by reducing the time to recruit and cut the administrative processes involved in recruitment. Researchers alsoidentified the need to enhance and develop employer branding to allow moreapplicants to be attracted to the organizationand apply for vacancies, whether that beby traditional or by e-recruitmentmethods.Process Mapping:Process Mapping was very effective in identifying areas wherethere were potential issues.
Hold-ups were identified at the shortlisting and pre-interview stages. References and check stages. From the resultsof the process mapping, a bench Marking exercise was planned to get furtherinformation on the areas of hold-ups anddifficulties within the process.Benchmarking:A benchmarking exercise was conducted to identify the goodpractices and target of the organization. A telephone survey was conducted withquestions being asked of Recruitment Managersto assess the practice across the area.
The time to appoint to a post fromadvertising the post to a start date being arranged was very long. Also, the noticeperiods vary dependent on grade from 1 month to 3 months and this would notgive an accurate indication of recruitment processes.Managers Questionnaire:To get some feedback from the users of the recruitment serviceinternally a questionnaire was developed and circulated to a sample of senior managerswith a responsibility for recruiting staff. Questions were asked about theservice and the difficulties experienced and feedback requested to identifywhat would make the process more effective for managers.The questionnaire identified the following results:- How often do you usethe recruitment Department? 100% percent of the respondents utilized the department at least yearly, with50 percent utilizing at least 6 monthly.- Are you happy withthe service you receive? 80% percent of respondents identified they were nothappy with the service they received.
– What are your maincomplaints about the service? Slow process, time it takes to get the documents,timing of advertising,- Would you prefer toreceive electronic applications or paper? 80 percentof the respondents identified they would prefer electronic applications,stating they were easier to access, cut down the waiting time for them to besent to another site, the 25 percent who preferred paper copies felt they wereeasier to look the applications on the computer could be difficult. – If available, wouldyou be happy with shortlisting candidates online? 80 percent of respondents werehappy to shortlist candidates online.- Would you be able toidentify an interview date when advertising a post?- Do you check allcandidates’ references after the interview?- Could you wait untilthe successful candidate was identified and then request references?- How long do you feelthe recruitment process should take, advertisement to confirmation of a startdate? The answers range between 4-8 weeks- How long does itusually take? The average time that the respondents felt it took was 10-12weeks(AC 3.1)Conclusions:This report provides an insight intohow recruitment and e-recruitment arebeing used and provide the benefits and challenges of usinge-recruitment technologies.From the results of the benchmarking exercise, it shows that recruitment times are slow, and processmapping identified hold ups to the recruitment process in areas of shortlisting and interviewing due to the time istaken to complete the process.
Process Mapping identified that references are being requestedfor all candidates, whether they aresuccessful or not. This was time-consumingfor recruitment staff and was costly as well. The e-recruitment method aims to savetime and money.Recommendations:Recommendations for the organizationfrom the results of the literature review, process mapping, benchmarkingexercise and Senior Managers questionnaire are- E-recruitment to befully introduced alongside existing recruitment methods for all posts, with anaim to reduce recruitment costs by 7% per year, which is an average year will mean savings of more than $200,000- Request referencesfor successful candidates only.
– Managers to Identifyan interview date on the advertisementThese interventions if applied to the recruitment process andimplemented in the department should allow- The reduction from12 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 anextra 1700 weeks during which new employees have started already working in thenew jobs instead of waiting for the red tape before they can start work.- Requestingreferences after interviews withsuccessful candidates only- Resourcing isconducted both internally and externally in an open, fair and transparentmanner and reviewed regularly so that supply is sustainable and inclusive ofall available talent.