Managing Human Resources NAB

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.

Analyses of Recruitment process

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.

Recruitment strategy

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).

Procedure of Recruitment

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:

• The first step is related to the application process. The organization has a specific set of application, through which the candidates can apply for the specific post. The additional role and job description is also mentioned through which the specific job roles are also mentioned.
• The second step is related to the telephonic interview. If the requirement meets in regards to the initial condition related to the organization, then it will become easier to conduct a telephonic round easily.
• The third step is related to the Behavioral event Interviewing (BEI). This is the unique method of conducting interviews in the correct direction. In this method, the past experiences and achievements of employees will be identified. On the basis of this, the assumption will be analyzed. By the help of this, the potential and specific capacity along with the competencies in relation to the employee according to the current market scenario can also be evaluated (Nguyen & Caesar, 2014).
• The fourth and fifth step comprises of the assessment and work reference check. In this process, the assessment of the employee can be done. With this, the final checklist for the documents and other experience certificates can also be placed. This will help in defining the actual formalities before joining.
• The sixth step is related to the probity checking. It may aid in defining the criminal and other records related to the organization. The last step is related to delivering of the offer letter to the selected candidates. By the help of this last step, the offers are provided to the candidates and the final step of joining will be completed initially (Anderson, 2015).

 By following these steps, the process of recruitment in NAB can be fulfilled very easily.

Key Challenges in Recruitment

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:

• The first challenge is the coordination of employee’s qualities with the organizational policies. The expectations of the organization are continuously changing and the employees have to coordinate with their policies in the right direction. To manage the equilibrium, specific solution should be managed correctly.
• The second challenge is related to the marketing and releasing the advertisement on a broad level. If the marketing for the post is not correct and advertisements which are releasing are not suitable, then it will become a great challenge for an organization to select the right candidate. So, an organization has to come up with various sources and processes as well (Stevens, 2017).
• The next challenge is related to the measurement of the performance and identification of results at an initial level. To manage both these perspectives, the organization has to come up with various strategies. The employees’ aspect should be discussed at an initial level. The accurate reports and procedure are also required for the improvement as well.

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.

Labor/Supply Demand

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.

Organizational Image and Demographic

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.

Conclusion and Recommendations

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:

• It is recommended that the strategic approach towards hiring and processing should be identified at an initial level. The procedure for recruitment may also help in providing assistance in a specific manner (Deakin University, 2012)
• Before recruiting, the candidate’s identification related to the specific process can also be done. The past details of the employees and disclosure of their past working experience will aid in highlighting the basic aspects related to the organization.
• Apart from this, before recruiting an accurate candidate for the organization, it is essential to identify the basic perspectives in regards to the marketing and advertisement. The advertising and marketing are also helpful in selecting specific candidates for the further improvement and processing.
• Other than this, the recommendations are also mentioned at the level of employee and services provided in the banking sector as well (McKenzie & Mortimer, 2014).

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

References

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