Assignment Question
Looking at an organisation that you are familiar with provide applied critical assessment of the recruitment and selection procedure being used as part of the larger Talent Management process.
1. Provide background information on your organisation, outlining the HR function and its responsibilities.
2. Outline and assess the full Talent Management process used within the organisation.
3. What HR planning has taken place within your organisation? Is this sufficient?
4. How has the Talent Management Process incorporated internal and external changes / trends?
Looking at your analysis and best practice what recommendations if any would you make for improvement within your organisation?
(Draw on your learning from Unit 1 – 4 and brainstorming activity in unit 1 to make use of frameworks, theories and best practice to support your ideas).
Word Count: 2,000 words (The report is 2,000 words and then the reflective statement is an additional 200 words. See below for details of reflective statement.)
Solution:
Introduction
For decades, Human resource management has evolved significantly and has played an essential role in organizational success (Hills, 2011). Human resource management played a more administrative function which includes recruitment and selection, motivation, reward and compensation, payroll processing and so on (Church, 2015).Several organizations are aware that the task of talent management is essential to the hiring of the best employees, their coaching, creating a friendly working environment, good payment structure and the engagement protocols for wellness programs and satisfaction of employees. As an outcome of an effective recruiting program, talent management has evolved (Church & Rotolo, 2013). Therefore, this report seeks to present a historical information on the organizational HR roles and obligations, outline and evaluate the talent management process, how has the talent management process has been incorporated both internal and external changes. Furthermore, the report used Fidelity Bank Plc as a model organization and recommends improvements for the organizations.
Organizational Background Information
Fidelity Bank Plc started its business as Fidelity Union Merchant Bank Limited in 1988. The institution currently has a footprint in Nigeria's metropolitan areas and corporate headquarters. It ranks amongst the first 10 in the financial services sector (Chima, 2014). The financial institution is renowned for its integrity in its activities particularly for providing its clients countrywide with quality services. In the Nigerian financial sector, the standard of the education acquired at the workplace and at fantastic business colleges within both Nigeria and abroad, also value Fidelity Bank employees. Fidelity Bank has always been mindful of the caliber of individuals it hires to make sure the best talents for the job were hired so as to facilitate collaboration, information sharing and skills within the workplace that can enhance profitability of all stakeholders of the organization (Chima, 2014),
Fidelity Bank offers equal opportunity to every workers and candidates, regardless of race, colour, ethnicity, sex, sexual preference, gender identification or speech, national origin, age, impairment, hereditary details, relationship status, parole or military condition, in compliance with appropriate federal, state and local regulations (Lockwood, 2010).
The primary duties and responsibilities of human resource at Fidelity bank include; the management of the day to day activities of staffs within the organization, recruitment and selection of talents, training and development of staffs, creating and managing workers relationship, conducting Job analysis and coordinating the reward system of workers.
Talent Management Processes
At Fidelity Bank Plc, five talent management processes takes place and this include;
1. Identification of company goals and its prerequisite: Fidelity bank has high level priorities; therefore the first operation in their talent management process involves listing the goals and future changes that will be initiated in the business firm which is immediately followed by the building up the employment descriptions and qualifications for the position they want to recruit workers into.
2. Sourcing and Attracting the Talent: At Fidelity Bank Plc, the first thing that comes to mind during recruitment is why a well trained professional will want to work for the firm (Gelens et al., 2014). This has always helped the organization to brand itself better and get qualified talents to work for them. In sourcing and attracting talents, Fidelity Bank uses online platforms such as LinkedIn to source for highly experienced individuals. The bank also makes use of recruitment companies who places the job advert on their website for application and selects the best candidates for the recruiting and selection process.
3. Hiringand Selection of Talent: At this stage, the bankperforman interview, conduct a test assessment and recruit the top talent. There are four steps at this stage; the first is the writing of a test which is always a GMAT 100 question to be answered in one and half hour. The cutoff point is always 50% and only those that meet the cut off will move to the next phase. The other three phases are interview sections with the recruiters, followed by the interview section with the HR personnel of the bank and the final interview with the top administrative officers of the bank and then followed by the selection of the best talent for the job.
4. Workers Retention: To retain staffs at fidelity bank, the first thing the bank does is not to hire a quitter in the first place (Zhang et al., 2015), they don’t sugar coat the job position and lie during their recruitment and selection process just to get the person to have a bite. Fidelity Bank believes in growth and carries out trainings for their staffs immediately after selection for the job and also in house trainings for existing workers for better productivity. They give their workers room for creativity and the working environment is always conducive.
5. Promotion: Promotion takes places constantly at Fidelity Bank. Mostly when a position is declared vacant, in house selection is always done for people to move from a lower position to a higher work because no one will want to remain at anunchanged position for so long (King, 2016), especially if they are experienced and qualified personnel that can easily secure another job in a firm with the desired position they want.
Human Resource Planning of Fidelity Bank Plc
At Fidelity bank, there are a series of planning activities that are carried outsequentially to achieve the ultimate objective of implementing a plan that allows the business to recruit and keep sufficient skilled workers to achieve the banks requirements. These plans are sufficient as highly trained human resource personnel are employed as HR staffs to make the process a detailed one. Also the HR is provided with adequate man power and equipment to perform their duties appropriately. The HR planning includes but is not limited to the following:
1.Job Supply Evaluation: This involves the recognition of the organization's existing workers and vacant positions. The HR department analyses the company’s capability based on its number of workers, theirexpertise, credentials, roles, compensation plans and productivity standards of the company (Dries, 2013).
2.Employees Future Planning:Fidelity bankplans its employees' future by taking into account other things such as promotions, benefits, layoffs and transitions, all of which can affect thefirm’s future requirements.
3.Job Trainings:Fidelity Bank HRperforms job trainings for their workers, most especially trainings for new recruit and on the job training for existing workers in the firm. They conduct trainings for their staffs within and outside Nigeria, most especially in Harvard Business School. There managers are often sent to study abroad so they can function on an international standard in the organization as Fidelity Bank is an international financial institution.
4.Reward System:Fidelity BankHRadopts Maslow's hierarchy of needs to motivate their employees. They take into consideration the Maslow’s five stage model to identify the various needs of their workers according to their levels. Maslow’s five stage models include Physiological needs, safety needs, affection and belongingness needs, esteem needs, and Self-actualization needs of workers. The HR makes plan for each of their staffs using these needs as the motivational factors of each staff is different. For instance, Fidelity bank as observed that new recruits are motivated mostly through psychological means and they plan extensively to address it at every point in time.
Internal Consideration
1. Age, superiority and educational attainment: it has been observed at fidelity bank that old employees in term of age and there stay in the company have no serious intention to leave the firm, while young employees changes job most often at the beginning of their career in the company. To solve this, fidelity bank makes their worker sign an agreement which binds them to the company for 5years. In addition to that, there are various forms of compensation plans and benefits that have been put in place to retain the employee. In addition, at fidelity bank, the level of education has a lot of significant relationship with job retentions
2. Salary and Benefits: The correlation of wages and incentives with talent withholding is an added advantage Fidelity Bank use to retain talents in the organization. Fidelity bank has found fair recompense and awardofworkers to have a noteworthypessimisticconsequence on theirintent to relinquish their position in the company.
3. Job Flexibility: Job flexibility at fidelity bank is essential in order to retain workers of any age in which they are given a degree of independence in determining how the job will be performed and how their activities will be synchronized with that of several workers. However, Slan-Jerusalim&Hausdorf (2012) described the relevance of flexibility for work force, such as planning variability that best fit the employee working hours, tasks, duties and family obligations and Fidelity Bank ensure that all employees have the flexibility they need.
External Consideration
Government Regulations: One of the most important external considerations at Fidelity Bank is government regulations on the Safety and Health Act of 1970 ensuring workers clean and hygienic conditions by regular checks and evaluation (Swailes& Blackburn, 2016). Although this regulation has changed frequently but Fidelity Bank has created a modality that provides a safe and healthy work environment for workers and have also employed health safety professionals to oversee the safety of workers in the company
Economic Conditions: One of the leading extrinsic impact on Fidelity bank is the form of the present economy, most especially the global pandemic (COVID-19) ravaging the world. It does not just have an impact on talent recruitment, it affects the company’s ability to perform it functions adequately. However, Fidelity bank have put measures in place to combat this external influence by making available tools that employees can use to work from home and for those working at various branches maintaining social distancing. The company have also put in place remote learning and virtual development for its workers, making the economic downturn a learning and development avenue for its workers.
Labor forcepopulation size:With the retirement of the older generation and a newer generation of employed individuals, Fidelity Bank Department of Human Resource has always looked for strategies to motivate this new group. They recruit and provide various forms of incentive plans for this millennial generation. The company also provide a working environment that is worthy of the way this generation works.
Conclusion
The functions of Human resource management are more than recruiting and laying off staffs, they ensures that all kind of external interference is heard and appropriate processes are observed, to prevent legal proceedings and penalties (Wang & Seifert, 2017).This report as demonstrated how talent management takes place in an organization and it has shown the effectiveness of proper talent management in a company. It has specifically revealed how Fidelity bank performs their recruitment and selection of talents and how they retain talent within the firm. As there are external and internal factors that affect talent management process, the essay explained the factors that affect Fidelity Bank and how they have successfully weathered the storm of the effects, most especially the global pandemic of Covid-19 that has led to the downturn of many corporate organizations.Fidelity Bank HR makes sure that they pay close attention to external influences because there is a good chance that they affect the job and the company workforce.
Recommendations
Based on the discussion and analysis in this report, the following recommendations emerged;
i. Review of the current Reward and Compensation System: The Companyneeds to provide a better work flexibility for workers, make timely promotion as at when dueand also providing updated equipment to help facilitate workers duties.
ii. Improve the company by creating development programmes: As a component of progress evaluations to ensure staffs are aware of internally available career development options, executives must perform frequent career strategy workshops (Ribbens& Cheng, 2015).
iii. Promote contributions from peer to peer:The company should stimulate a sense of appreciation among workers by making them send emails or text of a Job well done after a task is successfully completed (Morgan, 2010).
Reflective Essay
There arefour units with different topics were discussed which focused majorly on human resource management. In unit one, I learnt about Human resource management which is an essential department in an organization as they see to the day to day activities of employees and also contribute to the success of the organization. I also learnt from the brainstorming activity from various posts and topics within the learning outcome which course mates posted.
In unit two, I learnt about HR planning which is an important HR strategy that explicitly defines the organizations future.
Unit three exposed me to Employment Law, Equality and Diversity where I learnt the functions of employment legislation as well as the process of equal opportunity and favoritism in an organization.
Lastly, I learnt extensively from unit four as it explains the concept of talent management which exposed me to the rudiment of talent sourcing, retention and performance evaluation. In addition, the Mid Module Assignment was another avenue of further learning and wider reading.
In summary, what I have learned from unit one to four has equipped with the knowledge to complete the rest of the module and apply same to my personal and professional life.
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