The process of recruitment is considered as the most important and time taking process. The organization selected for the discussion of recruitment topic is named as the NAB (National Bank of Australia). This organization is identified as one of the famous financial institution in Australia. The monetary and financial aspects of the country are identified with the help of this organization. There are various international demergers identified on the large scale as well. The reason for selecting this organization is the specific selection process for the recruitment. Apart from this, the organization is well versed in defining specific identity too. The topics that are covered in the report are also specified below.
The analysis section for the recruitment process is successful in defining different stages shown below. This analysis will be helpful in providing suitable assistance for the specific working structure related to the organization.
The strategy for recruitment in the organization is quite simple and flexible, which can be settled as per the environment as well. For recruiting the candidates, the procedure totally depends upon the area of specialization. The recruiting skills can be set by the head of the department or the team lead. Sometimes, as per the condition of the projects, the requirement will be changing with a rapid speed. Being a banking firm, the financial and marketing departments are most common. Apart from this, there is a technical front and back office staff too, which may assist in providing specific assistance for the development of the organization (National Australia Bank Limited, 2015).
The recruitment strategy totally depends upon the area and the developmental aspects. For example, for the financial recruitment, the focus is on the initial studies, whereas for the technical support, the organization needs another aspect for the improvement as well. So, in short, it can be identified that the process of recruitment and strategy related to it is changing continuously with a quick rate (Davis, McCarthy, & Bridges, 2016).
The procedure for the recruitment in the banking organization consists of five major steps. These steps act as the connecting link between the processes of selection and recruiting candidates on a wide level. All these steps are described below in the form of points:
By following these steps, the process of recruitment in NAB can be fulfilled very easily.
The recruitment is identified as one of the basic challenges due to which the organization is facing continuous problems and issues. The mode of challenges also increases on a wide level as well. Some of the common challenges which are being faced by the organization are specified below:
Apart from this, there are also some other challenges due to which the recruitment section of the organization suffers. These areas are the salary management, daily analysis of the employee’s requirement and the issues related to the performance and retentions.
The Labor/ supply demand of the organization is directly influenced with the process of the recruitment. The definite set of labors will help in providing the best output as soon as possible. The labor demand will get increase with the increase in the consumer demand. The labor demand aspects of the NAB are identified as the derived factor in which the consumers requirement will directly affect criteria for the improvement and processing. The more opening of the accounts and improving in trading factors will influence the increment in improving the labors in the simultaneous manner. So, for NAB, it can be concluded that an increase in the demand of commodity will directly influence increment in the labors involvement as well (Beeley & Davidson, 2013).
In NAB, the approaches are framed according to the requirement of the customers. The expansion of the trading aspects will directly help in improving the recruitment procedure. This will also affect for an increment in the process of recruitment and selection. The research and factors show that the Labor demand in contrast to NAB is increasing continuously. The management aspects and recruitment cell of the organization is also observing continuous changes related to the organization as well. In fact, the Labor demand that is identified in the NAB is also increasing the opportunity for the new comers and financial specialist in reference to the organization.
Similar to the Labor demand, supply demand is also considered as the factor for the discussion. The supply demand also increases with the expansion of various fields in an organization. There are various fields like loans, finance, marketing and the promotion and all these fields need the labors in different form. The company helps in reflecting these aspects in a very well approached format. The increment of the supply is also considered in two viewpoints in reference to the organization. These viewpoints are named as the supply of labor to industry and supply of labor to the entire economy. The organization mainly focuses on the first aspect in which the main spotlight and expansion is identified on the basis of first criteria, which is specified as the supply of labor on the basis of industry. The industry will assist in promoting trade values and with this, the supply also increases simultaneously (ABS, 2012).
In short, an increment in the demand and labor supply can be promoted in a well-focused and organized manner.
The NAB is identified as transparent and well-versed Australian Bank. The organizational structure and its image are also organized as well. The well organized and approached banking service provided by the organization is also appreciable. The services like the NAB private, security, customer support and basic banking service aspects are the major ones. These services also help in making the organizational image more strong and stable. This organizational image may also aid in preparing a strong ground for the process of recruitment. Due to the best organizational image, more recruitment will be identified on a wide level. The organization also provides various online services like different type of calculators. For this, the manpower for the online assistance will be required. This will also help in opening doors for the recruitment as well (Dieleman & Harnmeijer, 2006).
The demographic features may also be considered as one of the major reasons for the process of recruitment. The location of the Australian bank is quite famous and well-defined, but the bank always tries to manage their subsidiaries bank on that location, where the demographic conditions are supportive for the organization. The demographic conditions include the life style, age, sex and other aspects related to the people. All these processes are helpful in defining and deciding the market scenario for the organization. After identifying the entire marketing scenario, it could become easier to manage various perspectives related to the organization as well.
The recruitment and hiring process is the long lasting process through which hiring of suitable candidate can be done. But, as it is the process which takes time and there are various challenges too, which are faced by the organization, so specific recommendations will be provided for the suitable execution of the procedure. In contrast to NAB, some specific set of recommendations provided are specified below with the specific explanation and information as well:
The piece of work will be helpful in managing the major aspects related to the recruitment. By the help of these points, the best selection can be possible in NAB
ABS.(2012). Labour market statistics. Retrieved from https://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/1301.0~2012~Main%20Features~Labour%20market%20statistics~43
Anderson, W. (2015, April 15). Six challenges facing Australia’s medical research sector. Retrieved from https://theconversation.com/six-challenges-facing-australias-medical-research-sector-40222
Beeley, L., & Davidson, M. (2013, September 02). A Critical Analysis of Skilled Labor Supply and Demand in the Australian Hospitality Industry. Journal of Quality Assurance in Hospitality & Tourism, 14(3). Retrieved from https://www.tandfonline.com/doi/abs/10.1080/1528008X.2013.802552
Davis, K., McCarthy, M., & Bridges, J. (2016). The labor market during and after the terms of trade boom. Retrieved from https://www.rba.gov.au/publications/bulletin/2016/mar/pdf/bu-0316-1.pdf
Deakin University. (2012). Identifying effective strategies to increase recruitment and retention in community-based health promotion programs. Medibank Private Limited. Retrieved from https://www.deakin.edu.au/__data/assets/pdf_file/0005/622652/medibank.pdf
Dieleman, M., & Harnmeijer, J. (2006). Improving health worker performance: in search of promising practices. KIT – Royal Tropical Institute . Retrieved from https://www.who.int/hrh/resources/improving_hw_performance.pdf
McKenzie, J., & Mortimer, D. (2014, July 11). Implementing evidence-based recommended practices for the management of patients with mild traumatic brain injuries in Australian emergency care departments: study protocol for a cluster randomised controlled trial. Retrieved from https://trialsjournal.biomedcentral.com/articles/10.1186/1745-6215-15-281
National Australia Bank Limited. (2015). Our range of personal products. Retrieved from https://www.nab.com.au/: https://www.nab.com.au/
Nguyen, T., & Caesar, L. (2014, August). Current Challenges in the Recruitment and Retention of Seafarers: An Industry Perspective from Vietnam. The Asian Journal of Shipping and Logistics, 2, pp. 217-242. Retrieved from https://www.sciencedirect.com/science/article/pii/S2092521214000315
Stevens, G. (2017, May 14). Australia's international economic engagement: Opportunities and challenges. Retrieved from https://www.lowyinstitute.org/the-interpreter/australias-international-economic-engagement-opportunities-and-challenges
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