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An Analysis of The Recruitment Methodology of Sales Officers in A Private Bank
An Analysis of The Recruitment Methodology of Sales Officers in A Private Bank
BY
KINSHUK DE
CONTENTS
Chapter
1.
INTRODUCTION
1.1
1.2
1.3
1.6
1.7
1.8
1.9
2.
RESEARCH METHODOLOGY
2.1
2.2
2.2
2.5
2.6
2.7
3.
AIM
BACKGROUND
INDIAS BANKING SCENE
EMERGENCE OF PRIVATE SECTOR BANKS
NATURE OF PROBLEM
JUSTIFICATION
ATTRITION
AIM
OBJECTIVE OF STUDY
RESEARCH TECHNIQUES
RECRUITMENT METHODOLOGIES
INTERNAL RECRUITMENT
EXTERNAL RECRUITMENT
4.
5.
ANNEXURES
PREFACE
Effective recruitment, selection and retention are critical to organizational
success. They enable companies to have high performing employees who are
satisfied with their jobs, thus contributing positively to the organization.
On the contrary, in-effective recruitment methodology, selection and
retention would result in mismatches which can have negative consequences for
an organization. A misfit who is not in tune with organizations philosophies and
goals can reduce output, productivity, customer satisfaction, relationship and over
all quality of work. Training a wrong hire can also be expensive. Effective
recruitment are therefore not only the first step towards organizational excellence,
but are important cost control mechanisms as well.
The study researches the spectrum of recruitment methodologies followed
in private sector banks towards developing an unique model, propose suggestion
that would reduce costs, time to recruit, be effective and help overall
organizational (in particular private banks) interests.
1
INTRODUCTION
1.1 Aim.
group of potential candidates from within and outside the organization for
employment. Once these candidates are identified, the process of selecting
appropriate employees for employment begins. This means collecting from
various sources, measuring and evaluating information about candidates
qualification for specified positions.
Indias Banking Scene
1.3 Indias banking sector is growing at a fast pace. India has become one of the
most preferred banking destinations in the world. The reasons are economy is
growing at a rate of 8.5%, Bank credit is growing at 30% per annum and there is
an ever-expanding middle class of between 250 and 300 million people (larger
than the population of the US) in need of financial services. All this enables
double-digit returns on most asset classes which is not so in a majority of other
countries worldwide. Foreign banks in India are also achieving a return on assets
and are keen in expanding their businesses.
1.4 Indian markets provide growth opportunities, which are unlikely to be matched
by the mature banking markets around the world. Some of the high growth
potential areas to be looked at are the market for consumer finance of about 2%3% of GDP, compared with 25% in some European markets, the real estate
market in India is growing at 30% annually and is projected to touch $50 billion by
2008, the retail credit is expected to cross Rs 5,70,000 crore by 2010 from the
current levels of Rs 2,00,000 crore and huge SME sector which contributes
significantly to Indias GDP.
Major strengths of the Indian banking industry, which have helped mark its place
on the global banking arena, are our Regulatory Systems, Economic Growth Rate,
Technological Advancement, Risk Assessment Systems and Credit Quality.
Regulatory systems, Technological systems and Risk management systems of
Indian banks were rated better than China and Russia and at par with Japan and
Singapore. China and India are one of the fastest growing economies in the world
as evident from the graphs below:-
10.5
8.3
7.5
5.1
nd
4.5
Ta
iw
an
5.3
Th
ai
la
M
al
ay
si
a
Ko
ng
re
Ho
ng
Si
ng
ap
o
In
di
a
Ch
in
a
5.5
Ko
re
a
5.6
6
4
2
0
In
do
ne
si
a
12
10
8
Loan Growth
%
30
27.6
25
20
13.4
15
9.9
10
8.1
7.7
6.4
6.4
5.1
Si
n
ga
p
or
e
nd
la
Th
ai
an
Ta
iw
K
or
ea
K
on
g
H
on
g
al
ay
si
na
C
hi
In
di
1.5
Banks are also increasingly getting attracted towards cross selling mutual
Bancassurance 73.6%
The banking industry is fast becoming a buyers industry with the new-
generation private sector banks giving a strong competition to the public sector
banks. Yes Bank is one such new age private sector Bank, offering high quality,
customer centric service catering to "Emerging India". Yes bank is the only
Greenfield license awarded by the RBI in the last 13 years. Yes Bank has
fructified into a "full service" commercial Bank that has steadily built Corporate and
Institutional Banking, Financial Markets, Investment Banking, Corporate Finance,
Business and Transaction Banking, Retail and Private Banking business lines
across the country, and is well equipped to offer a range of products and services
to corporate and retail customers.
Nature of the Problem
1.7
of skilled resources, especially in the sales function. Every private sector bank in
8
the country today employs sales personnel for customer acquisition and business
development in their respective retail unit cross-selling mutual funds, insurance
policies, credit cards to different categories of customers and services such as
wealth management and equity trading. A robust sales force consists of
Relationship Managers, Sales Managers and Sales Officers, depending on the
customer segment they focus on. On a broad base, customer segmentation in
most retail banks is as follows:(a)
(b)
(c)
Sales Officers
Average income 15 L pa
**
Average income 15 L pa
Relationship Managers
Sales Managers
1.71
Every branch of the bank employs close to 25-40 Sales Officers for
business development. These officers work towards building the customer base of
the
branch
by
selling
liabilities
products
(Current
Accounts/Savings
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
(i)
(j)
No consistency in approach.
(k)
(l)
(m)
recruitment processes.
Justification
1.8
Significant growth in the private banking sector over the past 5 years is
stretching the manpower resource in the banking sector. Growth has led to a
significant demand for people at the operational levels, and many banks are facing
severe sales force crunch. The trend of attrition and poaching is also growing.
Attrition is particularly rampant in the sales force in private sector banks leading to
turnover as high as 30% yearly. Data from some private sector banks indicate that
on an average bank spend 33% of organizations HR budget on recruitment and
18% on selection. 38% of organizations HR produce no reports on recruitment
10
activity whatsoever and are therefore unaccountable for the time and spend
involved.
Only
8%
have
any
form
of
competitor
benchmark
process
Eight out of ten sales officers said they have been approached by another
bank or organization during the last year to change. Recruitment of sales officer is
impacted by high turn over of the sales force. There is an ocean of restless young
professionals with low tolerance and high skills, ready to leave one organization
and join another at the drop of a hat. They may be angry with their bosses,
11
frustrated at work, or simply not satisfied with their pay packets. They feel that
loyalty does not pay, that passion is no longer rewarded. These feelings are not
new. They have always been there, in every organization since time immemorial.
But now, thanks to the growing economy and the shift from socialism to market
liberalization, there are many options available. It is easier to jump now than ever
before. Human resources are the new product in the market and vast
corporations both Indian and MNC are the new consumers. Only the market is
unique. Here both, the consumer and the product have the right to choose.
Processes are created to manage the high attrition rate of employees. But they
make the workplace so impersonal that they end up contributing to the attrition
rate. In the international market, Indians are seen as poor team players and
terrible at following processes. Yet, it is precisely our creativity that makes us
valuable in the banking industry that demands creativity. Private sector banks face
about 30% attrition per annum.
12
2
RESEARCH METHODOLOGY
Aim
2.1
private sector bank and propose modifications and improvements with following
objectives:(a)
(b)
(c)
Research Techniques
2.3
imperative that one first fully understands the current process. The most effective
way to achieve this is to undertake a full 'recruitment process audit', which should
look at every aspect of the recruitment cycle. The following research
methodologies were used to arrive at the 'best strategy for recruitment of
employees for any private sector bank in India:13
(a)
2.4
(b)
Interviews.
(c)
(d)
Industry practices.
(e)
(f)
every 'route to recruit' is fully utilized effectively in a time bound manner at minimal
cost. There are many options available to private sector banks to achieve best
results in the recruitment of new employees. However, to define this we will need
to gain a clear picture of the present recruitment process. Having fully audited and
documented the current recruitment cycle from attraction to induction, one will
finally be in a position to offer 'best strategy for any private sector bank.
Recruitment Methodologies
2.5
presently:-
14
2.6
(a)
Internal Recruitment
(b)
External Recruitment
Internal Recruitment.
External Recruitment.
sources for talent brought about by growth, desire for fresh ideas or to replace
employees who leave, banks periodically turn to the outside labor market. The
Five most popular external recruitment sources considered are:(a)
Job consultants
(b)
Campus Placement.
(c)
Online Application.
(d)
Recruitment advertising.
(e)
Referrals
15
3
CASE STUDY OF PROBLEM AT YESBANK
Introduction and Growth in Banking Sector
3.1
As brought out earlier, the Indias banking sector is growing at a fast pace.
India has become one of the most preferred banking destinations in the world. The
reasons are economy is growing at a rate of 8.5%, Bank credit is growing at 30%
per annum and there is an ever-expanding middle class of between 250 and 300
million people (larger than the population of the US) in need of financial services.
Banks are increasingly getting attracted towards activities such as marketing
mutual funds and insurance policies, offering credit cards to suit different
categories of customers and services such as wealth management, insurance and
equity trading. These are indeed proving to be more profitable for banks than plain
lending and borrowing. HR Managers in private sector banks need to think and act
strategically in relation to the requirement of workforce and ensure 'best strategy
for recruitment to meet goals at lowest costs.
Yes Bank: An Overview
3.2
Yes Bank, Indias new private sector Bank, is the outcome of the
service quality and operational excellence, and offers comprehensive banking and
financial solutions to its customers. A key strength and differentiating feature is its
knowledge driven approach to banking for its retail and wealth management
clients. Yes Bank is built on a foundation of trust, strengthened by knowledge,
backed by technology, governed by transparency and committed to responsible
banking. The result is an unstinted commitment. It is this commitment that has
earned the Bank the distinction of being ranked Indias No. 3 Bank in a recent
survey of listed banks in India by Business World. The same survey also ranked
Yes bank first in Safety, Efficiency & Growth. Yes bank won the Continuous
Innovation in HR Strategy award at The Indiatimes Mindscape Employer
Branding Awards 2007, the RASBIC award for Innovative Recruitment &
Staffing Programme and the Global HR Excellence Award for Innovative HR
Practices at the Asia Pacific HRM Congress 2007.
3.3
The bank has been able to achieve this growth through four instruments. A
focused
business
strategy
and
entrepreneurial
leadership,
highly
rated
17
3.4
Growth.
8231 million with about 60 branches in 35 locations across India within two years
of operation. The bank made plans to be about 100 branches by March 2008. The
foreign investors in Yes Bank are Rabobank, Citigroup Venture Capital
International, Chrys Capital and AIF Capital. The bank has increased its
headcount in North India region from around 500 people in Nov 06 to about 2000
people by Jun 2007. Each branch requires around 25-40 people to be fully
operational and run effectively.
Structure of Yes Bank
3.5
The bank has a matrix structure with the Relationship Vertical on one axis
RELATIONSHIP VERTICAL
Corporate &
Institutional
Banking
Business
Banking
Development
Knowledge
Banking
Investment
Banking
Treasury
P
R
O
D
U
C
T
V
E
Corporate &
Development
Banking
Transaction
Banking
Corporate
Finance
18
Emerging
Corporate
Banking
Retail
Banking
Treasury
T
I
C
A
L
3.6
President
Senior VP
Relationship manager
Retail Banking
NCR & Punjab
Relationship manager
Retail Banking UP
Relationship Manager
Business Banking
EC, C&IB
Relationship manager
C.P.U.
Relationship manager
Training & Development
3.7
Relationship manager
HR Operations
Records).
Like any startup Bank, the HR department faces the uphill task of
recruiting the branch team and sales force for every new branch. This could be
19
Business
Unit (360
officers)
Sub-Unit
<1
1-3
3-6
6-12
Month
Months
26
22
1
2
1
2
6
2
6
34
2%
6%
35%
>12
Total
RETAIL
BANKING &
WEALTH
Banc-
MANAGEMENT
assurance
Branch
Banking
Liabilities
Grand Total
Total Attrition
(%)
54
1
9
32
4
18
96
33%
2%
Attrition at Yes Bank, Delhi - Tenure wise Data from 360 Sales Officers
Recruitment Process in Yes bank
3.8
The sales force required for a branch to function is Tellers, Customer Sales
the HR drives the planned recruitment for the new and upcoming branches based
on defined norms. In case of an existing branch as the need against a position
arises, the line manager requests the HR department with the qualitative
requirement of the candidate. However, for an upcoming branch a planned
recruitment of the complete team as per defined norms and size of branch is
undertaken preferably on a top down approach. The HR department tries to follow
a pre-defined recruitment methodology to short list candidates and select
thereafter.
3.9
immediate Team Leader along with HR takes the first round of interviews. The
next round is undertaken by either the Sales Manager or the Branch Manager as
per the branch requirements and norms. However, for senior managerial
positions, there are a series of interviews with HR, line managers, Head of the
department and upto the level of CEO. The top management is actively involved in
selection and compensation finalization. The salary fitment is made by HR
keeping the fixed cost of the employee and various other factors into
consideration. Global sourcing is twice for senior managerial positions than for
middle management positions at Yes Bank.
3.10
well as the HR. The line assesses the candidate on his current potential, skills and
knowledge. The HR on the other hand assesses the candidate on his attitude,
profile, dexterity, family background, educational parameters, compensation and
21
other YES parameters defined. The line managers look at the job fit whereas the
HR looks at the organization fit of the employee.
3.11 While setting up a new branch the first step is to get the branch manager
onboard. The branch manager is either selected within the organization or hired
by the HR department and the Regional Head. Any new branch has to have a
Teller, a Customer Sales Executive/ Manager and a Branch Manager to be fully
operational. Training is the next most important process before a selected
candidate begins to carry out the assigned responsibilities in any branch. This is
undertaken for the Retail and Business Banking division of the bank. Often
training is the main purpose to assign the infant branch to a parent branch. The
flow of the recruitment process is as follows:-
22
Informs HR
HR
departmen
t
References
Consultants
RECRUITMENT
METHODOLOGY
Potential
candidates
identified
Candidat
e
selected
Yes
A
23
No
If senior
managemen
t position
Interview by CEO
Yes
No
Back papers, resume, salary slip and
offer letter of candidate sent to CEO
along with the organization chart
3.12
position. Typically, they also include to whom the position reports, specifications
such as the qualifications/ experience needed by the person in the job, salary
24
range for the position, etc. Job descriptions are usually developed by conducting a
job analysis, which includes examining the tasks and sequences of tasks
necessary to perform the job. The analysis looks at the areas of knowledge and
skills needed by the job. Bank keeps updating them and it is not a one-time
description, but a process which is kept up with ever-changing responsibilities and
skills necessary to perform the job, and the changing incentive plans.
3.13
While
the recruitment methodology for sourcing both sales officers and senior
management positions have been discussed in the preceding paragraphs, the
prime focus the present study and report will be sales officers. The following
methods of recruitment being followed have been analyzed:(a)
(b)
3.14
External Recruitment
(i)
Job consultants
(ii)
Online applications
(iii)
Referrals
(iv)
Campus placements
(v)
Direct Advertisement
Internal Recruitment
Job Consultants.
list of job consultants. Whenever a position arises, the bank requisitions their
services and provides the necessary job description, experience, place of work
and compensation details. The consultants then search their database and
25
provide a list of potential candidates after screening. The employer should insist
that entry level screening against the profile provided is undertaken by the
consultants. The advantages/ disadvantages of such methodology are as follows:-
(a)
set/ profile.
(b)
(b)
Resume
are
screened
for (c)
specific profile.
(c)
Quick
matching
of
credibility
consultants.
and
effective
employers
and
way
of
potential
candidates.
3.15
The average cost for such services for sales officers in urban region is
about Rs. 10000 and Rs. 7000 in rural region per sales officer. For mid level and
high level positions, the cost of services is about 8.5% of the yearly salary of the
employee. In case the employee resigns within three months, the bank insists, the
consultants provide replacement at no extra cost and insures for the training
costs. This method of recruitment is effective but expensive, especially in case of
senior level management and is not suitable in case of mass recruitment. 45% of
the positions at Yes bank at Delhi National Capital Region (NCR) are presently
being filled up through job consultants. However, due to non-availability of suitable
job consultants in rural areas, only 30% of the positions at Yes bank outside Delhi
were filled through job consultants.
26
of
3.16
During the study, 25 line and HR managers that work with such job
consultants were asked for their opinion about the quality of the candidates
provided by job consultants, which resulted in an interesting finding. Majority of
respondents think that the quality of candidates provided is good (58%), 21%
consider it to be average and another 21% even think it is insufficient.
21%
58%
21%
IN-SUFFICIENT
AVERAGE
GOOD
3.17
The author felt that the results concerning quality of candidates are partly
due to the way job consultants are being engaged by certain companies as part of
a shot-gun approach", without exclusivity and sometimes as a last resort after
failing to fill the position.
3.18
learnt that Yes bank has an empanelled list of 32 consultants and this is being
continuously tracked & re-evaluated. The evaluation process is built on Likert
scale and has many parameters like consultant credibility, quality of candidates,
27
3.19
Online Application.
all available positions and enables candidates to post their resumes against
vacancies. The bank also advertises such positions on various job websites like
naukri.com, google jobs, Monster.com etc. The advantages/ disadvantages of
such methodology are as follows:-
(d)
(e)
Inexpensive.
extensive screening.
(f)
Wide publicity.
Industry statistics reveal that 100 percent of the high tech companies in Global
500 list, and 89 percent of Fortune 500 companies, use their corporate websites
28
for recruitment. The past year has shown major growth in e-recruitment
advertisements, which cost 80 percent less than newspaper ads and is about 10
times cheaper than hiring consultants. Online recruitment is of immense
assistance in junior and middle-level recruitment. Senior positions require a
different strategy.
3.20
3.21
Yes bank has an online portal on which they advertise all openings and
enables the viewers to post their resumes. Candidates (internal and external) can
apply for positions as per the positions and locations advertised. This
methodology of recruitment has been found to be cost effective with vast
coverage. However, line and HR managers feel many irrelevant applications are
being posted, which leads to waste of time in screening/ interview and is at times
discouraging. Based on available statistics, 15% of the positions at Yes bank Delhi
are presently being filled through such online methodology. However, this is likely
to grow substantially.
Snapshot of the Website:
29
3.22
Referral.
employees to recommend acquaintances/ friends as candidates for certain positions and also earn
some incentives. Not many companies realize the benefits of good referral programme. A successful
referral programme reduces cost per hire significantly and at the same time promotes ownership. The
advantages/ disadvantages of such methodology are as follows:-
(a)
consultants.
(b)
the culture.
(c)
(b)
good potential.
results.
(d)
30
Based on available statistics, 6% of the positions at Yes bank Delhi are presently
being filled through referrals.
3.24
The employee is paid the referral fee after 3 months after the candidate
joins. The bank doesnt pay for referring any fresher or referring a candidate for a
position who would be directly reporting to the person who referred him. The
compensation for successful hire through this scheme is about 5% of annual
salary. The success of such a system is when vacancies are well advertised
internally.
3.25
Campus Placement.
sales officers for the post of Sales officers. The HR initiatives campus placements
based on long term forecast of sales officers. While recruiting from campus, the
bank screens for candidate having a good academic record, family background
with sound academic records in both Graduation and Class XII. Yes bank goes to
Tier I & II B-schools for recruiting sales officers for the post of Client Sales Partner
(CSPs) and about 15% of the positions at Yes bank Delhi are presently being filled
through such methodology. The advantages/ disadvantages of campus placement
are as follows:-
(a)
(b)
Good for mass induction at lower Banks all across India compete for
levels.
(c)
(b)
31
(d)
useful
towards
long
term
manpower requirements.
(e)
Provides talented youth with drive. (c) It has been observed that often good
(f)
Helps
banks
build
reputation candidates
have
many
job
offers.
3.26
tying up with various B-schools. Business schools have vast resource of talented
students studying specialized courses in Banking and Insurance. However, Banks
must plan staffing and be clear about its future manpower turnover/ requirement.
3.27
Direct Advertisement.
employers and candidates together and is still widely used. A clear and attractive
newspaper advertisement with specific details is eye-catching and invites
immediate attention. The services of newspapers and employment exchange are
useful. About 10% of the positions at Yes bank Delhi are being filled through such
direct advertisement methodology. However, this is likely to grow substantially.
The advantages and disadvantages are as follows:-
32
(a)
requirements and competencies are well (b) May bring many applications which
defined.
(b)
(c)
3.28
Internal Recruitment.
As
brought
out
earlier,
it
involves
filling
vacancies through internal means from existing employees. If external efforts are
undertaken without considering the desires, capabilities and potential of present
employees, a bank may incur both short and long run costs. In short run, morale
may de-generate, in the long run banks with a reputation for consistent neglect of
in-house talent may find it difficult to attract new candidates available through
other channels. The advantages and dis-advantages of internal recruitment are:-
(a)
Internal
candidate
know
Promotion
builds
(d)
sources.
Very cheap.
33
(c)
Transition
organizational
activities
growth
and
often
rapid
mask
growth
deficiencies
rate
slows
become
down
apparent
the
and
Placement cells of colleges the Bank visited e.g. ICFAI, IIPM, BIMT.
34
3.29
The percentage of
15
15
10
10
44
Campus
Job Consultant
Referral
Direct Advertisement
Internal
Online
16
20
11
9
30
14
Campus
Job Consultant
Referral
Direct Advertisement
Internal
Online
35
18
10
10
26
18
Campus
Job Consultant
Referral
Direct Advertisement
Internal
Online
36
19
12
10
25
16
Campus
Job Consultant
Referral
Direct Advertisement
Internal
Online
Survey of Employees
3.31
Usefulness
Effectiveness
respondents)
Job Consultants
Online applications
Referrals
5
4
3
4.3
4.25
4.0
Campus Placements
Direct Advertisement
Internal Recruitment
3
1
1
3.9
1.5
3.5
Survey Questionnaire placed at Appendix (78 Line/HR Managers and employees interviewed)
Mark scale 1(Not effective), 3 (Moderately effective), 5(Very effective)
Effectiveness was measured by the following:-
37
3.32
Records).
strategies and its effectiveness. Analysis of available data, surveys and costs
involved at Yes Bank were undertaken to arrive at an effective recruitment
strategy for the role of a Sales officer. Following was concluded:Recruitment
Applicability
Priority
Other
Cost
Overall
Factors
4
3.5
4
3.8
Effectiveness
3
5
4
5
Effectiveness
4
4.2
3.2
3.8
Strategy
Job Consultants
Online applications
Referrals
Campus
5
4
3
3
Placements
Direct
Advertisement
Internal
Recruitment
Mark scale 1(lo), 5(hi) for Priority
Mark scale 1(lo), 5(hi) for Cost, Cost Effectiveness 1(lo), 5(hi), Overall Effectiveness 1(lo), 5(hi)
HR and Line managers in private sector banks need to think and act
strategically to ensure availability of sales officers with right skills. This involves
38
adopting the correct methodology for recruitment, selection and appointment with
speed and transparency at lowest cost.
3.33
3.36
It has been observed from the data, online recruitment methodology is very
effective. However, the rise of more and more online job portals coupled with the
tightness of the market has also had a negative influence on recruitment. Many
banks thought that advertising in online job portals could reduce their dependency
on job consultants and lower recruitment costs. However, large no of job portals
have fragmented the demand and supply side market. It has therefore become
necessary to advertise and search in more and more job portals, which is proving
to be time-consuming, costly for banks and also becoming ineffective.
3.37
methodology that are used for search and selection, but also by the way these
methodologies are used. One also needs to take into account the following:(a)
(b)
What role does the recruited position play and its importance?
(c)
(d)
Can internal candidate be trained for the position and what are the
How long do you expect the new candidate to remain in the role and
(g)
40
3.38
is specific, focused and addressed to the section where one believes to find the
right candidate for the particular position. Broad-based recruitment can be
effective for positions that easily filled with minimal training. Organizations and
Banks also have to work towards building a brand value which impacts employee
positively. As Hertzberg work suggests that the line managers play a pivotal role
both as hygiene and motivation factor that impact on both employees attraction
and retention. Image and a reality of ethical and trustworthy operations in the
organization is a major attraction to both potential candidate and those already
employed.
3.39
Recruitment Plan.
Recruiting the right person starts with a detailed job description and
The more complex the job, the more complex the recruitment
(d)
Always recruit the right person for the job. Recruitment should be
When one actually meets the candidates, let them tell about their
background
and
achievements.
The
details
about
the
job,
the
Identify what initial training will be required and how much will be
Never over sell the job. Honesty about the role should be the best
policy.
(k)
new sales officers at Yes Bank, it was found that around 40% of new
employees never had references taken up. Background checks should be
42
are not the ones found to be most effective under all circumstances and
scenarios. Most banks do not have a clearly defined recruitment strategy, but use
a shot-gun approach to find candidates for their vacancies. This study has not
considered regional areas factors, Gender of candidates, age, discriminations etc
in a detailed manner. However, this is not to say that there isnt a problem in this
area or methodologies for recruitment will not be different. As seen in tables
above, the response varied between segments analyzed. Some discrepancy were
noticed which can have generalization error.
43
4
RECOMMENDATION & CONCLUSION
Recommendation
4.1 Recruiting can no longer be confined to the traditional ways. With the war of
talent intensifying, employers are broadening their reach though innovative
channels. Static recruitment no longer suffices in todays context of cost
effectiveness and efficiency. HR professional have a big responsibility to hire a
best candidate from the available sources discussed above. At the same time, one
has to be cost conscious. No process is complete without an evaluation of its
success. All executives interviewed accentuated the importance of employer
branding in attracting highly suitable candidates. Job consultants, online
applications and Campus placements emerged the most effective external
recruitment methodology used. Most showcase organizations and private sector
banks today have started using technology to screen resumes, filter applicants
and build database for future use. Based on all available data, an optimum, cost
effective, diverse and scalable recruitment strategy or methodology for recruitment
of sales officers was arrived at by the author targeting each methodology. Private
sector banks should aim to achieve the model by reengineering processes,
maximizing use of technology to reduce costs and exploit each source effectively.
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20
15
20
20
10
Campus
10
Job Consultant
Referral
Direct Advertisement
Internal
Online
Others
Conclusion
4.2
and the need was therefore to arrive at a recruitment strategy for the private
sector banks. As brought out earlier, the success of the recruitment strategy is not
only determined by the methodology that are used for search and selection, but
also by the way these methodologies are used and implemented. The processes
should ensure that there is no "shot-gun approach as a last resort after failing to
fill the position. Outsourcing of the recruitment process to an agency versus doing
this work in-house as a core HR responsibility is part of the strategic choice
companies should consider in determining a clear and effective HR recruitment
strategy. Trying to do both adds costs as HR resources go up and the required
time to fill vacancies often increases leading to less efficiency in finding and
selecting candidates for open positions. Employers have to use all available
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information and techniques available to them including the more traditional tools of
common sense and good judgment when making the right hiring choices for
available vacancies. The following are to be considered additionally:(a)
recruitment strategies.
(b)
recruit.
(d)
(e)
(i)
Once you have successfully recruited staff, make sure you keep
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5
ANNEXURES
LIST OF ANNEXES
I
II
CANDIDATES
III
IV
VI
VII
VIII
FEEDBACK FORM
47
NAME
KINSHUK DE
DATE OF JOINING
ANNEXURE II
QUESTIONNAIRE FOR INTERNAL/ EXTERNAL EMPLOYEES AND CANDIDATES
1.
Mostly Disagree
Neutral
Mostly Agree
On a scale of 1 to 5 how do you feel about joining, working for us and why?
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2.
Can you rate in order of merit the following methodologies of recruitment that you
believe is cost effective and can easily reach out to you easily:Job consultants
Online applications
Referrals
Campus placements
Direct Advertisement
3.
What according to you (on a scale of 1 to 5) are the primary causes for high
49
Job Security
Rewards elsewhere
HR/ Other Policies
Management
50
NAME
KINSHUK DE
DATE OF JOINING
ANNEXURE IV
QUESTIONNAIRE FOR HR MANAGRS AND LINE MANAGERS
Please rate these points on a scale of 1 to 5 as per the following:
1.
Mostly Disagree
Neutral
Mostly Agree
2.
Can you rate in order of merit the following external recruitment methodologies that you
believe are cost effective and can easily reach out to best candidates in Delhi and NCR:-
DELHI
NCR
Job consultants
Job consultants
Online applications
Online applications
Referrals
Referrals
Campus placements
Campus placements
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Direct Advertisement
3.
Direct Advertisement
What according to you on a scale of 1 to 5 are the primary causes for high attrition in the
banking industry?
Salary
Low Tolerance
Better prospects elsewhere
Market Liberalization
Poor Processes
Company Brand
Job Content
Poor Growth
Poor Incentives
Job Security
Rewards elsewhere
HR/ Other Policies
Management
4.
Which of the following could further improve recruitment in your organization (Rate 1 to 5)?
Planned Hires
Coordinated, sharing of business information
Economy to scale/cost reduction
Formalized agreements regarding business terms
Improved relationship with Job consultants and Line/ HR managers
Detailed job specifications
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53
NAME
Kinshuk De
DATE OF JOINING
ANNEXURE III
QUESTIONNAIRE ATTRACTION (NEW EMPLOYEES)
Mostly Disagree
Neutral
Mostly Agree
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I value regular interaction & appreciation from the top management more than any reward
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ANNEXURE V
PROPOSED RECRUITMENT PLAN FOR PVT LTD YES BANK
1. Date:
Section 1: Position Data
2. Working Title
3. Title Code and Payroll Title
4. Grade
5. Salary Range
6. Department
7. Hiring Authority (name & phone)
8. Recruitment Contact (name & phone):
9. Appointment Type:
10. Final Filing Date
11. Estimated Hire Date:
12. Is this a new position?
13. No of Positions
13. Full/ Part Time?
14. Attachments
15. Job Description (Enclose attachments if required).
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ANNEXURE VIII
FEEDBACK FORM
Kinshuk De
kinshuk.de@gmail.com
Fax : +91-9810775595
Useful
Moderately useful
Not useful
Very Good
Good
Neutral
Poor
3.
Would you consider implementing the strategies/ approaches in the case
study?
Yes
No
Other Comments:
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
Particulars of respondent
Name
Organization
Address
Email
Designation
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