Manage Recruitment, Selection And Induction Process At Reserve Bank Of Australia

Design and Structure

Discuss about the Manage Recruitment Selection and Induction Process for Functions of the HR Department.
 

The Reserve Bank of Australia (RBA) is the central bank of Australia, which was founded in the year 1960 (Rba.gov.au 2016). The headquarters of the bank is located in Sydney, Australia.  The Governor of the Bank is Glenn Stevens. The Bank assumes the responsibility of delivering the crucial services to the Government of Australia (Rba.gov.au 2016).  It also provides services to the official institutions and other banks of the country.

The day to day concerns of the Bank are managed by the Reserve Bank Board, Payment Systems Board, Audit Committee, Remuneration Committee, Risk Management Committee and the Executive Committee (Rba.gov.au 2016). The RBAformulates the banking policy and the monetary policy of the Bank (Rba.gov.au 2016). It takes care of the payment system, audit, and remuneration and ensures that the risks are properly identified. The Business Services group consists of departments such as Banking Department, Payments Settlement departments[,] and note issue department (Rba.gov.au 2016). The Corporate Service group consists of departments such as Facilities Management, Financial Administration, Staff Services and Information Technology (Rba.gov.au 2016). The Economic group consists of Economic Analysis and Economic Research(Rba.gov.au 2016). The Financial Markets group consists of departments like Domestic Markets and International Department(Rba.gov.au 2016).

The RBA is considered to be the primary banker of the Commonwealth. The Bank strives to provide assistance to other central banks, official institutions and other financial entities (Rba.gov.au 2016). These may include collections like reporting, account maintenance as well as payments. 

The RBA ensures that the banking policy, as well as the monetary policy of the bank, satisfies the interests of the people. The Bank strives to improve the stability of the Australian currency, maintaining full employment opportunities in Australia and the economic prosperity of Australia (Rba.gov.au 2016).

The recruitment policy of the bank integrates the principles of diversity and equity in the formulation of specific strategies and goals (Rba.gov.au 2016). This makes it possible for the Bank to attract talented candidates. The crucial aspect of the recruitment policy includes an equitable policy for the selection of candidates. The RBA utilises a variety of recruitment strategies so that it can attract as well as select a diverse pool of candidates (Connell & Stanton 2014). The Bank reviewed various policies of the recruitment and selection process so that they are at par with the anti-discrimination legislations (Rba.gov.au 2016). There is a document known as “Selection Panel Guidelines”, which discusses the issues of equity and the employment requirements in the specific organizational areas (Yesseleva 2012). The RBA has strived to put emphasis on the recruitment of female employees. The Bank utilizes specific programs like “Graduate Development Program” to attract a large number of qualified women employees in the management positions in various departments of the Bank (Evetts 2014). The bank strives to formulate innovative recruitment policies for attracting different candidates from diverse backgrounds. The Bank utilizes the “Graduate Recruitment Benchmarking Survey” for the purpose of determining the best recruitment strategies (Carroll 2013).

Strategic Goals

The RBA utilizes a variety of approaches for inviting applications for a wide pool of candidates. The Bank recently announced online recruitment measures, in order to attract employees from the job boards on the internet (Rba.gov.au 2016). The Institution also utilizes the traditional methods of recruitment, in order to tap the largest pool of potential candidates (Rba.gov.au 2016). The various sources of recruitment used by the Bank include the TAFE colleges, recruitment agencies, internet agencies, employment agencies and others (Hajkowicz et al. 2016). There are special recruitment drives for the differently able persons, Indigenous Australians and persons with disabilities (Rba.gov.au 2016). The Bank strives to implement atraineeship position along with mentoring support to the candidates especially Indigenous Australian population.

The Bank strives to make excellent induction programs for the new recruits. The induction programs of the Bank ensure that the diverse requirements of the employees such as religion, culture, personal or disable related, are properly addressed (Barak 2013). The policies of equity are integrated with the process of induction programs. The induction module comprises of the particular module on the diversity and equity issues (Rba.gov.au 2016). The Bank introduced skills training in English language through the means of grammar and writing coaching (Richards & Rodgers 2014). The Bank believes in providing suitable induction schedules, which are relevant to the workplace. The Bank has also implemented “New Managers Program”, which focuses on the understanding of the effective leadership traits such as conflict resolution, cross-cultural dynamics, team building and others (Rba.gov.au 2016). The Bank also strives to enhance the skills of the women managers and encourage them in the senior management. 

The recruitment in the Reserve Bank of Australia has to abide by the guidelines of the Fair Work Act 2009 (Fwc.gov.au 2016). This law provides the basic guidelines for the recruitment, selection and the induction policy that should be followed by the organization. The law also protects the employees from discrimination and disallows the recruitment concerns that are responsible for the discrimination against a prospective employee (Fwc.gov.au 2016). The recruitment agencies are not supposed to engage in any form of discrimination against gender, age, religion or age. The Australian Human Rights Commission also gives guidelines for the best practices in recruitment and selection (Alrc.gov.au 2016). The Commission ensures that there is equitable and fair recruitment process. The induction policy is governed by Fair Works Ombudsman, which specifies the initiatives that should be adopted by the employers for a newly recruited employee (Fwc.gov.au 2016). The law states certain steps for the recruitment and selection process such as knowledge of the laws, assessing the hiring needs, attracting the correct people, selection of the right person and making an offer to the correct person(Alrc.gov.au 2016). The Fair Work Act believes that the organizations should formulate a robust induction policy for the maximum benefit (Fwc.gov.au 2016). The induction policies make sure that the new employees are welcomed, well-informed and prepared to give their best in their new job.

Operational Goals

The recruitment, selection, and induction practices are critically analyzed. It has been observed that the position descriptions and the employment specifications were not up to the mark. The managers were little confused regarding the exact qualifications and experiences they were looking for in a prospective candidate. There were instances when the advertisements of the vacant positions were not proper and lacked the conformance with the organizational policy. The recruitment sources should be properly identified and the recruitment initiatives should satisfy the organizational policies and the legal requirements (Alrc.gov.au 2016). There is a lack of opportunities to recognize specialists such as recruitment agencies, vocational psychologists, security personnel, remuneration specialists and others. The human resource personnel should be properly utilized so that the organizational effectiveness can be achieved (Snell Morris and Bohlander 2015). There is a need to identify the various options for improving the technological framework in the organization so that the maximum effectiveness of the recruitment process can be achieved. The selection process should satisfy the predetermined standards and the legal requirements (Bamberger Biron and Meshoulam 2014). The right to work, permanent residency and non-discrimination of prospective candidates should be done at the time of selection. The new employees are provided with job appointment letters and are counseled for various parameters like compensation, perks, job duties, shift timings, place of work and the terms and the conditions (Salau Falola and Akinbode 2014). The probationary employees are evaluated from time to time and suitable feedback from their reporting authority is being taken. The decisions on confirmation or termination of the employees are taken after considering the feedback of the managers. 

The recruitment process needs to be redesigned. The position descriptions and the various employee details need to be clearly written down. There should be separate proforma of each open vacancy. The job descriptions should be determined by the human resource personnel after consultation with the respective department heads. All the details of the job and the expectations of the organization from the prospective candidates should be laid down clearly. The same job description should be communicated well to the prospective candidates. The advertisements of the job openings should be relevant to the job descriptions and should also satisfy the organizational requirements. All the recruitment sources should be identified for the recruitment process. The best recruitment source should be identified that is cost effective and provides maximum benefits. There should be proper utilization of the human resources in the organization. The human resource planning is important and there should be a proper allocation of the resources. The human resources should work together for the achievement of the common organizational goals. The organization should strive for improvement of technology adoption in the recruitment process. The online recruitment channels like job portals, social networking sites, forums and others should be utilized in the recruitment of suitable manpower in the organization. The selection process should be in-depth, rigorous, employee friendly and ethical. There should be no favoritism and the organization should select only deserving candidates. The organization should use a variety of selection tools such as face to face interviews, video interviews, psychometric testing, behavior testing, skills testing and others. The selection process should be followed by a background check and a social media check of the prospective candidates. The new employees should be subjected to a detailed induction process. There should be proper planning of the induction process that should outline the duration and content of the induction program. The recruitment, selection, and the induction process should be excellent so that the overall quality of the human resources in enriched.

Discussion

All the employees of the organization should be aware of the recruitment, selection and the induction policy. The low-level managers, middle- level managers, senior managers, technical persons, departmental heads, ground level staffs and others should be informed about the key features of the policy. The human resource team should communicate the policies to all the employees of the organization and should also address their queries (if any). There are various methods of communication that should be adopted by the organization. One of the most common communication means is the face to face communication (Mark et al. 2014). This is one of the highly efficient communication methods. In this age of technology, the HR team can choose IT as its communication tools. The employees can be communicated by emails, intranet services, video conferencing, online meeting tools and others (Wright 2016). There should be a fixed timeline for the communication process. The employees should be intimated about the revised policies within a period of seven days, from the date of implementation.

The human resource team should monitor the changes that took place after the implementation of the new recruitment, selection, and induction policy. There should be a review mechanism that determines the gap between the outcomes before and after the change implementation (Gisselquist 2012). The trial procedure should take into account all the aspects of the recruitment, selection, and induction policy. 

The key stakeholders should be interviewed and their feedback towards the recruitment, selection, and induction policy should be noted. An effective recruitment and selection procedure would ensure that the right candidate occupies the right position. A well designed and nicely implemented induction policy would convert the new employees into productive employees. The feedback should be taken with the concerned department heads as well as the HR manager.

Conclusions

The recruitment, selection, and the induction process are the vital functions of an organization. The policy concerning the recruitment and selection should be revised from time to time. This is important as it ensures the best candidates are coming in the organization at the shortest possible time. The induction process should be effective and should be designed in a way that provides the maximum advantage for the organization. The right candidate should be transformed into an asset of the organization. This would help in the achievement of the organizational goals. 

References

Australian Law Reform Commission | ALRC. (2016). Alrc.gov.au. Retrieved 26 June 2016, from https://www.alrc.gov.au

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Carroll, D. 2013. A Panel Data Investigation of the Relationship between Graduate Job Search and Employment Outcomes. Journal of Institutional Research, 18(1), 47-55.

Connell, J., & Stanton, P. 2014. Skills and the role of HRM: towards a research agenda for the Asia Pacific region. Asia Pacific Journal of Human Resources, 52(1), 4-22.

Evetts, J. 2014. Women and career: themes and issues in advanced industrial societies. Routledge.

Fair Work Commission | Australia's national workplace relations tribunal. (2016). Fwc.gov.au. Retrieved 26 June 2016, from https://www.fwc.gov.au

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Hajkowicz, S. A., Reeson, A., Rudd, L., Bratanova, A., Hodgers, L., Mason, C., & Boughen, N. 2016. Tomorrow’s Digitally Enabled Workforce: Megatrends and scenarios for jobs and employment in Australia over the coming twenty years.

Mark, G., Iqbal, S., Czerwinski, M., & Johns, P. 2014, February. Capturing the mood: facebook and face-to-face encounters in the workplace. InProceedings of the 17th ACM conference on Computer supported cooperative work & social computing (pp. 1082-1094). ACM.

Rba.gov.au 2016. Retrieved 26 June 2016, from https://www.rba.gov.au/

Richards, J. C., & Rodgers, T. S. 2014. Approaches and methods in language teaching. Cambridge university press.

Salau, O. P., Falola, H. O., &Akinbode, J. 2014. Induction and Staff Attitude towards Retention and Organizational Effectiveness. IOSR Journal of Business and Management (IOSR-JBM), 16(4), 47-52.

Snell, S. A., Morris, S. S., &Bohlander, G. W. 2015. Managing human resources. Nelson Education.

Wright, M. (Ed.). 2016. Gower handbook of internal communication. CRC Press.

Yesseleva, M. 2012. Small-and medium-sized enterprises: data sources in Australia. Global journal of business research, 6(2), 83-92.