Recruitment Process in Human Resource Management in Banking Sectors

 

Recruitment is a core function of the Human Resource department. It is a process that involves everything from identifying, attracting, screening, shortlisting, interviewing, selecting, hiring, and onboarding employees.

The recruitment teams can be large or small depending on the size of an organization. However, in smaller organizations, recruitment is typically the responsibility of a recruiting manager.

Many organizations outsource their recruiting needs, while some companies rely exclusively on advertisements, job boards, and social media channels to recruit talent for new positions. Many companies of today use recruitment software to make their recruitment process more effective and efficient. (hrhelpboard, 2023)

6 Phases in a Recruitment Process

Identifying the Hiring Needs

Whether a job opening is newly formed or just vacated, organization cannot find what organization need if HR don’t know what organization need in the first place. So, HR recruitment process should start with identifying the vacancies that exist followed by analysing the job specifications including the knowledge, skills and experience needed for the role.

Factors That Influence Recruitment:

·         Size of the organization

·         Salary structure

·         Work culture and working condition within the organization

·         The growth rate of the organization

·         The current state of employment in the economy

Preparing the Job Description

Once you know exactly what organization need in terms of knowledge, skills and experience, it is time to determine the duties and responsibilities of the job. Preparing a comprehensive job description will help you know what your potential employees must have in order to meet the demands of the role. More importantly, it provides your prospects with a checklist or a list that they can compare themselves to before applying. It is a tool to ensure that you get applications from the right candidates.

Talent Search

Identifying the right talent, attracting them and motivating them to apply are the most important aspects of the recruitment process. The job listing should be advertised internally to generate referrals as well as externally on popular social networking sites and preferred job boards. Recruiters can also conduct job fairs and promote openings in leading industry publications to cast a wider net. Broadly, there are two sources of recruitment that can be tapped for a talent search:

1. 1.      Internal Sources of Recruitment

When recruiters use internal sources for recruitment, it works to motivate the existing employees to be more productive and maximizes their job satisfaction and sense of security. Recruiting through internal sources also reduces the attrition rate along with cost and effort.

1. 2     External Sources of Recruitment

Recruiting through external sources offers a much wider scope for selection from a big number of qualified candidates. The process moves much faster even for bulk requirements while eliminating the chances of partiality or biases.

Screening and Shortlisting

In order to move forward with the recruitment process, HR needs to screen and shortlist applicants efficiently and accurately. This is where the recruitment process gets difficult and challenging.

Interviewing

The shortlisted applications will now move through the interview process prior to receiving an offer letter or a rejection note. Depending on the size of the hiring team and their unique recruitment needs, several interviews may be scheduled for every candidate.

Evaluation and Offer of Employment

This is the final stage of the recruitment process. Organization should never take it for granted that the candidate will accept the organization offer. However, if the candidate has patiently completed all the paperwork and waited through the selection process, the odds of accepting the offer are high.

NDB is looking for different skills and talents of the employees in different departments. And also they are making some recruitment to select the best people needed to the company to achieve the goals by using them. The company is looking for qualified and well experienced work force to continue their expansion procedures. There are some skills and techniques that are needed by the employees to be selected to the certain business procedure, the skills and the ability of the employees will be depend on the training, making plans, organizing, designing and the implementation of the skill related activities.

NDB reputation as an employer of choice has enabled us to attract and retain top talent, despite the increasing competition for skills in the industry. During the year, we recruited 423 employees (excluding outsourced personnel) to support our ambitious growth aspirations. The Bank’s recruitment processes are guided by a recruitment policy that is transparent and leaves no room for any form of discrimination. In order to nurture a strong pipeline of talent, and improve retention, employees are encouraged to apply for internal vacancies as much as possible. During the year we promoted 36 employees in this manner. External recruitments happen primarily at entry level and mainly comprise school leavers (A/L Based), newly qualified professionals and/or university graduates. The Bank has partnered with several universities to attract newly qualified graduates of selected disciplines. (ndbbank, 2017)

References

hrhelpboard. (2023). Retrieved 04 22, 2023, from https://www.hrhelpboard.com/recruitment/recruitment-process.htm

jobsoid. (2022). Retrieved 04 27, 2023, from jobsoid: https://www.jobsoid.com/recruitment-process/

ndbbank. (2017). Retrieved 04 24, 2023, from https://www.ndbbank.com/annual-report/2017/management-discussion-and-analysis.humcap#:~:text=OUR%20APPROACH%20TO%20HUMAN%20CAPITAL%20MANAGEMENT&text=Employees%20are%20also%20governed%20by,conflicts%20of%20interest%20among%20others.