Internship and Australian Financial Institutions

Student’s Name

Institutional Affiliation
Contents
Introduction.................................................................................................................................................2
Background..................................................................................................................................................2
Literature Review........................................................................................................................................3
Discussion....................................................................................................................................................4
Findings.......................................................................................................................................................8
Conclusion...................................................................................................................................................8
Recommendation........................................................................................................................................9
Reference..................................................................................................................................................10

Internship and Australian Financial Institutions

Introduction
Graduates think it is harder to find employment as more individuals seek postsecondary

schooling to work on their expert possibilities. With a 26% increment in individuals getting four-

year certifications in Australia from 2011 to 2016, a more significant number of graduates are

viewing for occupations than earlier ages (Abs.gov.au, 2017). Private ventures are turning into a

more substantial economy piece, representing 80% of all organizations. ActewAGL appreciates

the opportunity to comment on the Australian Energy Market Commission's (AEMC) Issues

Paper, Energy Market Arrangements for Electric and Natural Gas Vehicles, which was released

on January 18, 2012. ActewAGL is a multi-utility company that began as two partnerships in

2000: ActewAGL Distribution and ActewAGL Retail. ActewAGL Distribution is the owner and

operator of the electricity and gas networks in the Australian Capital Territory (ACT), the

Queanbeyan region, and the Shoalhaven.

Under contract with the network's owner, ACTEW Corporation Limited, ActewAGL

Distribution also operates and maintains the ACT water and sewerage networks. ActewAGL
Retail oversees customer service and marketing for electricity and gas services in the ACT and

throughout the Capital Region (including Goulburn, Yass, Young, Nowra, and Bega).

Background
Better Place Australia (BPA) and ActewAGL announced in July 2009 that Canberra

would be the location of BPA's first city-wide deployment of electric vehicle (EV) infrastructure

in Australia. ActewAGL and BPA have worked together to prepare the infrastructure

deployment since then. ActewAGL Retail and BPA signed a ten-year agreement in June 2011 for

ActewAGL Retail to deliver renewable energy to BPA's EV vehicle charging network in

Canberra. Furthermore, during BPA's seed funding round in November 2009, ActewAGL Retail

made a minor investment in the company (Ali, Mahmood & Mehreen (2019). ActewAGL also

owns and manages a small number of compressed natural gas (CNG) refilling stations in the

Australian Capital Territory and New South Wales (NSW). CNG is currently supplied by these

refueling facilities to a number of individual and fleet customers. ActewAGL's interest and

participation in the alternative transportation fuel industry is motivated by its desire to assist in

the adoption of ecologically responsible solutions as well as the business prospects afforded by

such advances.

ActewAGL is uniquely positioned to provide guidance on the costs and hazards

associated with the impact of such vehicles on electricity and natural gas networks, as well as

market participants, due to its active role in assisting the deployment of both electric and CNG

powered vehicles. While ActewAGL recognizes that the AEMC's goal1 is to advise the

Ministerial Council on Energy (MCE) on how energy market frameworks can support the

adoption of EVs and NGVs in the most cost-effective way, ActewAGL continues to believe that
regulation should be introduced only where there is clear evidence of market failure and that

such support should be provided in a way that does not harm the environment.

Literature Review
According to Keohane (2020), the electricity industry is still one of the world's most

important institutions. Its significance cannot be overstated, and individuals must be involved in

power usage in a variety of ways. As a result, AGL energy is critical and very vital in Australia,

as it provides the most basic need for life to continue. Fuel and electrical energy are the lifeblood

of the industry, which supports automobiles, machinery, and a large number of people.

Power industry management necessitates a highly technical approach, with the majority

of actions requiring extensive calculations (Yassine, 2019). Formulating power distribution lines

necessitates engineering work. Market research is also required to determine the economy's

potential markets. In addition, determining the power producing methods necessitates a

technological approach. In any case, the methods must be cost-effective and environmentally

friendly.

Reviewing a written article increases the research's quality and confirms the existence of

a research problem (Makin, A. J., & Layton, A. (2021). As a result, this chapter discusses the

talent acquisition and retention tactics stated by other academics in their books. The papers

demonstrate the significance of talent acquisition and retention for AGL Power in Australia.

Discussion
Recruiting or searching for talent

Talent sourcing, according to Makin, & Layton, (2021), is the process of finding,

studying, producing, and networking with possible job candidates in order to convert them into
job applicants and, eventually, employees in order to increase the institution's efficiency. In the

talent search process, there are several stages. All of these stages are aimed at obtaining the most

qualified and relevant staff for the power firm. They are as follows:

1) Talent identification based on growth requirements.

Any company's major goal is to grow in order to remain relevant and helpful in the

community. As a result, ACTEWAGL must maintain a progressive business plan in any

circumstance. Having a talented and skilled workforce that improves efficiency in long-term

activities is one method to ensure growth.

As a result, it must find a pool of deservingly skilled people who can assist them boost

productivity in the quickest time possible. The pool of qualified employees is a sign of future

expansion.

2) When writing a job description, keep the talent requirement in mind.

It is not enough to have a pool of talented potential employees; the organization must be

explicit about the types of abilities and employees necessary. As a result, it must write a solid job

description that emphasizes the talent as a plus.

3) Develop a candidate profile that is optimal.

The most qualified and talented individual that AGL energy would like to hire is referred

to as an ideal candidate. In both personnel search and recruitment, the ideal applicant profile

serves as a guide. What abilities and qualifications are required for a particular job? Is it

necessary for the candidate to have experience in production design and management? The ideal

applicant profile provides answers to such queries.

 4) Making contact with the ACTEWAGL

The ability to connect with potential employees serves as an incentive to recruit top

personnel. Keeping in touch with the most desirable individuals produces a welcoming

environment in which to offer a job or an employment offer that the employee cannot refuse. As

a result, when it comes to talent sourcing, the company needs to figure out how to keep in touch

with the most skilled workers in order to attract their attention and eventually recruit them to

their plan, which will boost productivity.

5) Creating jobs for talented and competent workers

An institution's principal goal is to deliver goods and services as efficiently as possible

while maximizing revenues and lowering production costs. The procurement of the most skilled

people reduces the manufacturing expenses. As a result, AGL Energy must consider hiring the

identified experts who can assist them in developing new extraction, distribution, and marketing

methods in the long run. Talent sourcing is a long-term process that necessitates the application

of tactics. In order to stay competitive in the market, many power firms are competing for highly

qualified and bright individuals. As a result, AGL energy must apply the following techniques in

order to attract the top staff.

• Conducting ongoing market research to uncover potential talent.

• Maintaining a positive working connection with the talent.

As a result, the tactics outlined above can substantially assist ACTEWAGL in developing

a competent and competitive pool of personnel who will eventually restore the company's market

worth.
Retention of Talent

Talent retention is defined by Rana & Sharma, (2019), as "the process of retaining

productive and effective skills in the operation of a business entity." It also refers to the process

of choosing capable employees who will serve as the institution's business pillars. There are

people in a regular corporate organization that have unique working skills that are difficult to

develop. Employees like them are always thought to be inventive and contribute to the

company's growth. The talented personnel provide innovative company concepts that, in the long

term, resolve the current situation.

The following are some examples of talent retention strategies:

1) Having a pay and benefits package that is competitive.

Many investors or companies are attracted to highly competent and talented individuals.

However, because skilled and talented people are in short supply, there is fierce rivalry. As a

result, institutions must change their salaries and perks to compete for skilled personnel in

today's market. To prevent losing competitive personnel to its key competitors, AGL Energy

Limited must raise compensation for competitive staff. This will also save them money on the

high costs of hiring personnel and finding permanent replacements.

2) Reducing employee suffering

Any company's management must be concerned with its employees. Managers should

create a welfare wing where problems affecting skilled people can be discussed and remedies

sought. Because their concerns have been resolved, ACTEWAGL energy limited will be able to

retain its personnel.

 3) Having leaders rather than bosses

Leaders are persons who lead by example in order to help an organization achieve its

goals. Leaders are favored because of their friendly demeanor, as opposed to bosses, who are

seen as dictators who are unconcerned about their employees' well-being. Leaders are defined as

persons who inspire confidence, skillfully handle obstacles, provide direction to employees,

provide high-quality services, believe in their human resources, are accessible to employees, and

are non-violent. Other methods of talent retention proposed by Trost (2020) include hiring the

right people at the start who will take over the job on a permanent basis later, making talented

employees brand ambassadors to make them feel like part of the energy company, making

employee engagement possible, and keeping an eye on managers to offer guidance. As a result,

the organization will have access to a wide pool of competent employees.

Findings
All of the research on graduate employability has one common theme: the relevance and

advantages of on-the-job learning. Because the ratio of internships available to higher education

enrolments is shrinking (Weible, 2009), the importance of internships is growing while

availability is shrinking. Internships are critical to achieving the greatest level of graduate

education. ACTEWAGL have a great chance to step up and provide internships to future

graduates, not just for the graduates, but also for themselves. Graduates and ACTEWAGLs have

opposing attitudes, which should be viewed as an opportunity for ACTEWAGLs to differentiate

themselves from giant businesses. In keeping with this concept, ACTEWAGLs might establish

links with local higher education institutions in order to market their employment options to

undergraduates. Students who participate in internships are more successful, and companies that
offer internships are more understanding and welcoming of graduates, making it more likely that

their skills will be utilized.

Conclusion
The ACTEWAGL is hesitant to hire graduates, and graduates are apprehensive that the

ACTEWAGL will not provide them with opportunities that will advance their careers. There are

some unexplored chances for small businesses, such as the ACTEWAGL, to attract graduates in

ways that large organizations cannot. Communication with local higher education schools can

help ACTEWAGL by allowing them to get to know undergraduates in their final year of study

and assess their suitability for employment. Similarly, this connection will assist final-year

undergraduates.

Recommendation
This paper recommend that when assessing ACTEWAGL for positions, ACTEWAGL

must have faith in the evidence of what they can give. Internships are crucial since they provide

the ACTEWAGL with a free or low-cost way to gain a new perspective on procedures. If the

intern is found inappropriate or the task is not to their taste, it is a short-term, low-commitment

engagement. Most importantly, they're a one-of-a-kind method to meet potential employees and

receive some fresh ideas from young up-and-comers who can enliven a workplace.
Reference
Rana, G., & Sharma, R. (2019). Assessing impact of employer branding on job engagement: A

study of banking sector. Emerging Economy Studies, 5(1), 7-21.

Makin, A. J., & Layton, A. (2021). The global fiscal response to COVID-19: Risks and

repercussions. Economic Analysis and Policy, 69, 340-349.

Hossain, S. M., Roy, M. K., & Das, P. K. (2017). Factors Affecting Employee's Turnover

Intention in Banking Sector of Bangladesh: An Empirical Analysis. ASA University

Review, 11(2).

Maheshwari, V., Gunesh, P., Lodorfos, G., & Konstantopoulou, A. (2017). Exploring HR

practitioners’ perspective on employer branding and its role in organisational

attractiveness and talent management. International Journal of Organizational Analysis.

Ali, Z., Mahmood, B., & Mehreen, A. (2019). Linking succession planning to employee

performance: The mediating roles of career development and performance

appraisal. Australian Journal of Career Development, 28(2), 112-121.

Mwita, K. M., & Tefurukwa, O. (2018). The influence of leadership on employee retention in

Tanzania commercial banks. Leadership, 8(2), 32-48.

Shah, S. H. A., Saeed, M. A., Yasir, M., Siddique, M., & Umar, A. (2018). The impact of

Transformational leadership on turnover intentions directly and through talent

engagement in the banking sector of twin cities of Pakistan. Journal of Managerial

Sciences, 3(11), 410-430.