Human resource is the biggest and most important resource among the other available resources for an organization or an institution, thus it is very important to choose a suitable recruitment and selection policy to meet the various required and dynamic targets of the organization. This policy is needed to ensure that the best and suitable employees are recruited for the organization (Kamran et al, 2015). An employee may be very productive for a financial company not only by his academic records but also by his nature, and another one may be excellent in a manufacturing organization, thus to identify and select one which is productive for the organizational nature and business, it is very important to have a thorough and intelligent recruitment and selection procedure and policy (Lievens and Chapman, 2019).
The internal issues refer to the objectives of the organization, the strategies of the chosen business, the needs of the HR, the rank of Hr in the total organizational business structure (Anosh et al, 2014), for example, if a consultancy firm is a dependant more on the external finished data and less on the internal analysis of the employees, the HR importance will not be that much important as compared to a firm who needs to analyze and produce information from the raw data collected from external sources.
The strategic choice of the business firm frères to the decisions of the business regarding its effects on the future strategy. It asks a simple question that where they want to go? For this a SWOT analysis needed to be examined on the strengths and weaknesses of the business and the opportunities and threats relating to those decisions (Ekwoaba et al, 2015). For example, the chosen firm does a business of economic policy research and analysis and provides data to its clients, it will rely on the most probable data which forecast the future of economic developments so that its client will have faith in it, and thus will decide to hire high-quality individuals at the cost of increasing HR expenses. It will rarely focus on decreasing the cost of HR by hiring low salaried employees.
The management values and the organizational culture is an important internal factor in policy framing of HR. values are the important and lasting beliefs that the organizational members share and which framer the culture about what is desirable and what is not (Kumari, 2012). For example, one organization may be more prone to profit-making against the ethics and the other one may be more emphasized on maintaining ethics towards its stakeholders for the core belief is ethics maintenance will be positive for long lasting profit and brand building. The ethical treatment of employees refers to what the organizational attitude towards the employees, if there is mass availability of the employees, and still the employee’s benefits are maintained as it was before, the organization believes in employee’s sati8sfaction and happiness more than its immediate profits. The ethical business practices are the one which decides the longevity of the organization in the market, values like terminal values, instrumental values or aesthetic values can showcase the organizational values and orientation towards the employees (Bolander and Sandberg, 2013).
Corporate social responsibility refers to the internal private business self-regulation which aims to contribute to the societal goals in the territories in/for which the organization is working, these are guided by the ethical social prct5ices of the organization and are aimed to achieve the societal and ethical goals of well being apart from economic profit or solely organizational goals.
The law of the land related to the industrial business, discrimination, occupational safety, and health and privacy do also have a considerable effect on the HR policy of a company. These factors raise the expenses of a company on its employees from hitherto lower expenses prevalent due to societal stereotypes and increased availability of the human resource (Chalikias et al, 2014). For example, Nike has set its sweatshops in Vietnam instead of the USA or a European country for the reason because the laws related to employee satisfaction and safety were very resilient there and the company had not any pressure for such safety and security related.
Government policies regarding the business and industrial relations like the employment requirements, education and training to be provided, immigration and citizenship, etc do also affect largely on the recruitment processes and can restrict or open the scope of human resources for a company (Chalikias et al, 2014). For example, The H1B visas of America for the immigrant's work permit if goes open for more people, the IT companies of America can have quality people on lower salaries. These government policies can also bound a company to employ a minimum number of employees from a particular section, community, or nationality. For example, the US might want the IT companies to enroll at least 50 % Americans or Indian firms might be compelled to enroll a particular percentage of employees related to depressed classes no matter what their educational or work qualifications match or do not match the companies’ requirements.
Vermeeren et al (2014) explain the economic conditions regarding the country in times of distress or stability and the attitude of the government in such times to provide trust and stability in its market also have a considerable effect on the market of employees for the organizations available. A firm and economically positive and high growth will attract more employees rather than people going towards their businesses. If the country tries to stabilize the market with its funds in times of distress, the market has trust in the future of that country and more workers are attracted to it. A mature economy will have employees with higher demands and lower working culture as compared to a developing country where the workers have not touched the economic maturity in terms of work.
Societal values and issues are made prevalent by organizations, countries, international institutions, and which are higher goals than the organizations’ (Boon et al, 2019). These societal values can be ethically developed or can be imposed by the law (ex-CSR mandatory requirements) to create a sense of societal values and these goals are more inclined towards the external and indirect stakeholders of the company more often than the general people and they're well being.
The government policies and ethical treatment of employees are the two most crucial issues which are needed to be analyzed in the HR policy.
Employee recruitment and selection policy of the economic research and financial management company
The company deals in the area of economic research and financial management of its clients and it relies on the raw data and statistics from the external sources and converts it into useful statistical and macro and microeconomic information for its clients who are primarily the investors in various stock exchanges and intuitional investors in different countries. The basic objective of the recruitment and selection policy of the economic and financial company selected is to enroll the employees who do not believe in quick switch of job and are keen on understanding and learning on a longer basis because the business of the comp0any demands a compulsory learning process and the employee is expected to yield good results after a particular period and in that case if the employee aims to switch the job, the aim of the recruitment policy will be failed. Thus there should be a synchronization between the goals of this company and the goals of the employee.
The scope of the HR department in the company spans between the planning of Hr, recruitment, and selection, training, development, payroll management, industrial relations, rewards, legal procedures, grievance handling, feedback, annual reporting’s own performance and development and management of the harmonious relationship between the employees and management and between organizational and individual goals (Cooke et al, 2020).
The company believes in the open competition ways for the recruitment and it makes sure the right and meritorious canisters are hired apart from evaluating the ethical and learning and understanding abilities of the candidates. The company does avail of the job of a clerk which is why constant learning from the job is essential for the candidate to be selected. The company ensures professionalism in every step of selection. The company put its best efforts into a transparent and effective style where all the candidates are treated equally and on par save the policy guidelines of the government. The company always recruits in the ways which are conscious of its image on the outside, company HR is always aggressive in adopting new and innovative procedures in its scope of working and always encourages the outsiders and the present employees to advise on such matters.
The job description and job specification shall be mentioned and stated by the HR of the company with the required skills, experience, aptitude, and knowledge.
Advertising- The next step is the advertising of the job, which is posted both internally and externally as the company believes in the career development and job enrichment of the existing employees, and thus it believes this step comes under equal opportunity provider. This advertisement shall be done with the help- of the framework designed by a sub-department of the HR department and no external consultancy agency is hired in our recruitment advertising.
Applications- the applications shall be categorized into categories A and b after the required period of the application is ended. Thus on the preliminary examination, the applications shall be categorized and then application A is those with which further procedure will be followed and B are those which are unsuitable for the job and are discarded from the procedure.
Written examination- the A category candidates shall require to pass a written examination of multiple-choice with a minimum of 40 % passing marks and all those below the 40 % criteria shall be discarded and will not be considered further.
Interview- The interview shall be taken for the remaining candidates who will focus more on the qualitative assessments, ethics, and learning ability with stability in place of quantitative knowledge and facts.
Second interview- The second interview of the qualified candidate’s hall is taken to refine the eligible and required candidates best suited for the job. The purpose of the two interviews is that the job does need more of learners and less of existing tactful knowledge.
After the recruitment process ends, the job offer and the call letter for the final candidate's hall be delivered and a thank you email will be sent to other applications for showing interest in the company.
The HRM manager is the approver of the policy adopted and conducted. The CEO and board members on the advice of the HRM manager shall sign the approved policy of the HR recruitment and selection procedure adopted or going to be adopted. The requirements and the number of vacancies shall be collected from the line managers of the different departments (Aslam et al, 2014). Suggestions and advice are welcomed by the HRM from every employee of the company within a stipulated period.
A continuous evaluation and performance appraisal policy work with the reports half annually and confidential reports every year based on which the current HR recruitment and selection policy will be evaluated and relevant changes will be made thereafter (Cooke et al, 2020). The management, board members, and HRM manager shall conduct an annual meeting after the receipt of the yearly reports and shall advise the HRM manager on the relevant changes to be made.
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