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Shri Vile Parle Kelvani Mandals

Mithibai College of Arts,, Chauhan Institute of Science & Amrutben Jivanlal college of Commerce and Economics Vile Parle (West) Mumbai 400056

A PROJECT ON

EXTERNAL SOURCES OF RECRUITMENT


IN THE SUBJECT

HUMAN RESOURCE OF MANAGEMENT


SUBMITTED BY NAME:MEHERVAAN SINGH KOHLI ROLL NO.: 52 DIVISION:

UNDER THE GUIDANCE OF PROF. HARIKISHNAN KURUP TO

UNIVERSITY OF MUMBAI
FOR

MASTER OF COMMERCE PROGRAMME (SEMESTER I) YEAR: 2013-14


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Shri Vile Parle Kelvani Mandals


Mithibai College of Arts,, Chauhan Institute of Science & Amrutben Jivanlal college of Commerce and Economics Vile Parle (West) Mumbai 400056

EVALUATION CERTIFICATE
This is to certify that the undersigned have

assessed and evaluated the project on Topic EXTERNAL SOURCES OF RECRUITMENT

Submitted by MEHERVAAN SINGH KOHLI , student of M.Com. Part - I (Semester I) for the academic year 2013-2014. This project is original to the best of our knowledge and has been accepted for Internal Assessment. Name & Signature of Internal Examiner Name & Signature of External Examiner

PRINCIPAL

College Seal
MANGAONKAR

DR.KIRAN

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Shri Vile Parle Kelvani Mandals


Mithibai College of Arts,, Chauhan Institute of Science & Amrutben Jivanlal college of Commerce and Economics Vile Parle (West) Mumbai 400056

DECLARATION BY THE STUDENT


I, MEHERVAAN SINGH KOHLI student of M.Com. (Part I) Roll No.: 52 hereby declare that the project titled EXTERNAL SOURCES OF

RECRUITMENT
for the subject- HUMAN RESOURCE OF MANAGEMENT submitted by me for Semester I of the academic year 2013-14, is based on actual work carried out by me under the guidance and supervision of PROF.
HARIKISHNAN KURUP . I further state that this work is

original and not submitted anywhere else for any examination.

Place: Date: Name & Signature of Student

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ACKNOWLEDGEMENT
First and foremost I seek the blessings of my beloved TEACHERS who keep lot of expectations on me and showering their infinite love for ever. I would like to thank University of Mumbai for giving me this opportunity of taking such a challenging project, which has enhanced my knowledge about The external resources of recruitment I show my gratitude to the Principal, Vice Principal and Co-ordinator of Mithibai College who gave me a lot of moral support and under their guidance I was successfully able to complete my project. And with deep sense of gratitude I would like to thank Prof. HARIKISHNAN KURUP for his immense help and co-operation.

OR
At the outset, let me avail this opportunity to express my deep sense of gratitude to my beloved project guide APEKSHA CHHEDA for the constant support and motivation. The project would have remained a distant dream without his cooperation.

.4. I would be failing in my responsibilities if I am not remembering the help of guidance which I received from HARIKISHNAN KURUP for the timely inspiration and cordial approach. It give me always immense pleasure to work with her and I feel extremely lucky to be associated with him/her.

Prof.

HARIKISHNAN KURUP deserves a special place here in my

project work. He helped me by giving various suggestions on various aspects of research methodologies. The support of HARIKISHNAN KURUP is extremely unparallel and I thank him/her for having immense expectations on my academic future.

.5. CONTENT
Sr. No. PARTICULARS CHAPTER I INTRODUCTION 1.1 1.2 1.3 1.4 1.5 2.1 2.2 2.3 2.4 RECRUITEMENT 7 RECRUITMENT PROCESS 9 MEANING 10 NEED OF RECRUITMENT 11 STEPS IN RECRUTIMENT PROCESS 12 CHAPTER II IMPORTANCE & PURPOSE RECRUITMENT STRATEGIES PURPOSE AND IMPORTANCE HOW TO INDEITFY FAILURE SOURCES OF RECRUITMENT 15 17 18 25 Page No.

2.5

INTERNAL SOURSES MERITS/DEMERITS

26-27 CHAPTER-III

EXTERNAL SOURCES OF RECRUITMENT 3.1 3.2 3.3 3.4 3.5 EXTERNAL SOURCES OF RECRUITMENT ADVANTAGES OF EXTERNAL RECRUITMENT DISADVANTAGES OF EXTERNAL RECRUITMENT INTERNAL VS EXTERNAL RECRUITMENT EXTERNAL RECRUITMENT SUCCESS FACTORS CHAPTER IV CONCLUSION 4.1 4.2 4.3 RECOMMENDATION CONCLUSION BIBLIOGRAPHY 51 52 53 28 33 35 36 37

CHAPTER 1. INTRODUCTION

RECRUITMENT

Recruitment refers to the process of attracting, screening, selecting, and on boarding a qualified person for a job. At the strategic level it may involve the development of an employer brand which includes an 'employee offering'. The stages of the recruitment process include: job analysis and developing a person specification; the sourcing of candidates by networking, advertising, or other search

methods; matching candidates to job requirements and screening individuals using testing (skills or personality assessment); assessment of candidates' motivations and their fit with organizational requirements by interviewing and other assessment techniques. The recruitment process also includes the making and finalizing of job offers and the induction and on boarding of new employees. Depending on the size and culture of the organization recruitment may be undertaken in-house by managers, human resource generalists and / or recruitment specialists. Alternatively parts of all of the process might be undertaken by either public sector employment agencies, or commercial recruitment agencies, or specialist search consultancies. The process of finding and hiring the best-qualified candidate (from within or outside of an organization) for a job opening, in a timely and cost effective manner. The recruitment process includes analyzing the requirements of a job, attracting employees to that job, screening and selecting applicants, hiring, and integrating the new employee to the organization. .8. Human resources are the most important assets in an organization. Recruitment often represents the first contact that a company has with potential employees. It is through recruitment that many individuals will come to know a firm and eventually decide whether they wish to work for it. A well-planned and well-managed recruiting effort will result in high-quality applicants, whereas a haphazard and piecemeal effort will result in mediocre ones. Quality employees cannot be selected when quality candidates do not know of job openings, are not interested in working for the company, and do not apply. Recruitment should inform qualified individuals about employment opportunities, create a positive image of the company, provide enough information about the jobs so that applicants can make comparisons with their qualifications and interests, and generate enthusiasm among the best candidates so that they will apply for the available positions. This includes candidates from outside of the organization

(external recruitment), as well as current employees interested in different jobs within the company (internal recruitment). Recruitment costs includes hires at all levels (professional an d managerial hires are the most expensive ) and advertising costs, recruiter and candidate travel, agency/search firm fees, relocation costs, and the recruiters salary and benefits.

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Meaning Of Recruitment
Recruitment of candidates is the function preceding the selection, which helps create a pool of prospective employees for the organization so that the management can select the right candidate for the right job from this pool. The main objective of the recruitment process is to expedite the selection process. Recruitment is a continuous process whereby the firm attempts to develop a pool of qualified applicants for the future human resources needs even though specific vacancies do not exist. Usually, the recruitment process starts when a manger initiates an employee requisition for a specific vacancy or an anticipated vacancy.

According to Edwin B. Flippo, Recruitment is the process of searching the candidates for employment and stimulating them to apply for jobs in the organisation.

A formal definition states It is the process of finding and attracting capable applicants for the employment. The process begins when new recruits are sought and ends when their applicants are submitted. The result is a pool of applicants from which new employees are selected.

I t i s t h e p r o c e s s t o d i s c o v e r s o u r c e s o f manpower to meet the requirement of staffing schedule and to employ effective measures for attracting that manpower inadequate numbers to facilitate effective selection of an efficient working force

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Need for Recruitment:

Vacancies due to promotions, transfer, retirement, termination, permanent disability, death and labor turnover. Creation of new vacancies due to the growth, expansion and diversification of business activities of an enterprise. In addition, new vacancies are possible due to job specification.

Determine the present and future requirements of the organization on conjunction with its personnel-planning and job analysis activities. Increase the pool of job candidates at minimum cost. Help increase the success rate of the selection process by reducing the number of visibly under qualified or overqualified job applicants. Help reduce the probability that job applicants, once recruited and selected, will leave the organization only after a short period of time. Meet the organizations legal and social obligations regarding the composition of its work force. Begin identifying and preparing potential job applicants who will be appropriate candidates. Increase organizational and individual effectiveness in the short term and long term. Evaluate the effectiveness of various recruiting techniques and sources for all types of job applicants.

Needs are of Three types


PLANNED i.e. the needs arising from changes in organization and retirement policy. ANTICIPATED needs are those movements in personnel, which an organization can predict by studying trends in internal and external environment.

UNEXPECTED Resignation, deaths, accidents, illness give rise to unexpected needs.

STEPS IN RECRUITMENT PROCESS

Step 1: Database Search


Over the years that we have spent in accounting and recruitment we have developed an extensive database of high quality candidates at all levels.

.12. Step 2: Advertising


Advertising the role will also help us identify any new people in the market who might not be registered with us. Our preferred method of advertising is via the internet. One important point here is that we dont on charge our client s for the advertising that we undertake.

Step 3: Networking and Referrals

One of our main sources of candidates is through our extensive networks within professional bodies such as the CPA, ICAA. These networks also include sporting and social groups both real and internet based. We firmly believe that good people know other good people.

Step 4: Processing the applicants


All applicants are subject to screening and a rigorous interview process. Our interviews are generally conducted by 2 consultants and during this process we use competency based and behavioral questioning techniques to gain a true understanding of the candidates abilities. We also take the time to give the individuals career advice and counseling so even if they are unsuccessful in their application they will have gained something through the process. After the completion of the process the consultants prepare a detailed candidate Summary Report that we submit to the client

Step 5: Submission and Interview

Once an applicant is deemed worthy of submission, we will send our Summary Report and the candidates CV in their format. We will follow up the email with a call and arrange an interview time suitable for both parties. One of our consultants will be available to attend the interview if you require assistance or coaching in the interview process.

Step 6: Feedback and Offer


When the interview is completed, we will take and give feedback to both parties. At this stage we will also ensure that all the appropriate documentation including references has been finalized and made available to you. If an offer is made we will communicate the offer on your behalf and then manage the process so that you get the best possible outcome.

Step 7: Commencement and Retention


When the candidate commences the role the consultant will keep in touch with you and your new employee to ensure that both parties are meeting their obligations. We will continue to stay in touch until the candidate has successfully completed their probation period. We can also assist you in developing retention strategies to retain your new staff member.

.14. CHAPTER 2. IMPORTANCE AND PURPOSE RECRUITMENT STRATEGY


Recruitment is of the most crucial roles of the human resource professionals. The level of performance of an organization depends on the effectiveness of its recruitment function Organizations have developed and follow recruitment strategies to hire the best talent for their organization and to utilize their resources optimally. A successful recruitment strategy should be well planned and practical to attract more and good talent to apply in the organization. For Formulating an effective and successful recruitment strategy, the strategy should cover the following elements: 1.Identifying and Prioritizing Jobs: Requirements keep arising at various levels in every organization; it is almost a never-ending process. It is impossible to fill all the positions immediately. Therefore, there is a need to identify the positions requiring immediate attention and action. To maintain the quality of the recruitment activities, it is useful to prioritize the vacancies whether to focus on all vacancies equally or focusing on key jobs first.

2. Candidates to Target: The recruitment process can be effective only if the organization completely understands the requirements of the type of candidates that are required and will be beneficial for the organization. This covers the following parameters as well:

Performance Level Required: Different strategies are required for focusing on hiring high performers and average performers. Experience Level Required: The strategy should be clear as to what is the experience level required by the organization. The candidates experience can range from being a fresher to experienced senior professionals. Category of the Candidate: The strategy should clearly define the target Candidate. He/she can be from the same industry, different industry, unemployed, top performers of the industry etc. 3. Sources of Recruitment: The strategy should define various sources (external and internal) of recruitment, which are the sources to be used and focused for the recruitment purposes for various positions. Employee referral is one of the most effective sources of recruitment.

4. Trained Recruiters: The recruitment professionals conducting the interviews and the other recruitment activities should be well-trained and experienced to conduct the activities. They should also be aware of the major parameters and skills (e.g.: behavioral, technical etc.) to focus while interviewing and selecting a candidate.

5. How to Evaluate the Candidates: The various parameters and the ways to judge them i.e. the entire recruitment process should be panned in advance. Like the rounds of technical interviews, HR interviews, written tests, psychometric tests etc.

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Purpose and Importance of Recruitment


Attract and encourage more and more candidates to apply in the organization. Create a talent pool of candidates to enable the selection of best candidates for the organization. Determine present and future requirements of the organization in conjunction with its personnel planning and job analysis activities. recruitment is the process which links the employers with the employees. Increase the pool of job candidates at minimum cost. Help increase the success rate of selection process by decreasing number of visibly under qualified or overqualified job applicants. Help reduce the probability that job applicants once recruited and selected will leave the organization only after a short period of time. Meet the organizations legal and social obligations regarding the composition of its workforce

. Begin identifying and preparing potential job applicants who will be appropriate candidates. Increase organization and individual effectiveness of various recruiting techniques and sources for all types of job applicants .17.

The Steps of the Recruiting Process and How to Identify Failure Points

The 19 Steps in an Effective Recruiting Process


In this section Ill list each of the 19 distinct steps in the recruiting process, as well as the primary goal and the common cause of failure for each.

Step #1 Determine your ideal recruiting target


The goal of this step is to determine precisely who recruiting efforts should target, including performance level, experience level, and whether or not they are actively looking for a job. If youre targeting top performers or poaching from competitors, the remaining steps of the recruiting process must be designed to fit the needs in the job search process of your targeted candidate if you expect to even gain their attention. At this step many firms prioritize their jobs, so that they focus resources on jobs with the highest business impact. Common reason for failure: defining your target but failing to design the approaches used in a way capable of recruiting and hiring that type of target.

Step #2 Understanding your targets decision criteria a significant


part of any recruiting process is attracting desired talent, which you cannot do effectively without understanding what your targets consider important. This step focuses on identifying the key factors, known as job acceptance criteria, that are necessary in order to convince a qualified prospect to apply for and eventually accept a job at your firm. Common reason for failure: omitting this step altogether and producing messages based on what the recruiting team finds compelling versus what the target talent needs to hear about.

Step #3 Knowing where your target hangs out having defined your
target and their decision criteria, the next step aims at identifying where you are most likely to find the target talent, including what communication channels would be effective for recruitment messages. If you dont accurately identify where they spend their time, there will be a low probability of you placing compelling information about the company and the opportunity in a place they will find or pay attention to. Common reason for failure: omitting this step altogether and deploying employment branding and recruitment marketing to channels that are easiest to deploy to.

Step #4 Employment branding driving a pipeline of talent is the role of


employment branding, a science-driven discipline that produces a consistent flow of

qualified talent interested in some day working for your organization. The goal of this step is proactively developing and deploying content about what makes your organization a desirable place to work in the minds of your target talent populations. Obviously, if qualified individuals havent ever heard of your firm or they dont really think that your firm offers any positive or compelling features, you wont get many direct applicants. Common reason for failure: firms present their employer brand message in a perfect corporate format that is not judged to be authentic or believable by the target audience.

Step #5 Learning your targets job search process at this step you
implement a process designed to identify the typical process that your target audience uses once they begin a job search. The goal is to better understand precisely how they look for jobs, so that you can engineer your approach to advertising opportunities to make your jobs visible to them. If for example you learned that top talent often start job searches using Boolean search strings entered into a major search engine versus visiting a major job board, you may focus your attention on making your jobs listing searchengine acceptable and optimized, versus broadcasting to macro and micro job boards. Common reason for failure: again, many recruiting processes omit this step and as result, rely on luck or coincidence in order to be at the right place at the right time. Step #6 Posting jobs for active candidates because active candidates are proactively seeking out job openings, it doesnt take a lot to make your job postings visible. During this step, the goal is to write position postings and place them where active candidates can easily find them. Obviously if the descriptions are written so that they are unappealing or they are placed where your active candidates wouldnt likely see them, you would have a low percentage of active candidates applying. Common reason for failure: many firms refuse to gather data, so they are forced to guess where active candidates look for job openings. Step #7 Directly sourcing non-active prospects because non-active prospects are not in job search mode, they are unlikely to read any job postings or to visit your corporate career site. Instead, recruiters (or your employees through the

referral program) will have to identify them, contact them, build a relationship, and eventually convince them to apply through direct sourcing. Common reason for failure: many recruiting functions do little direct sourcing and as a result, they are forced (often without realizing it) to select from a pool of primarily active candidates. Step #8 Providing prospects with additional informatio n at this step potential candidates have decided to consider your firm but want additional information before they decide to actually apply. The goal of this step is to make it easy for potential candidates to find positive information about your firm and its jobs. Many will visit your corporate website for additional information, opting not to apply if what they find isnt immediately compelling. Smart prospects will also look for information about your firm and what its like to work there in places you cant control, including blogs, ratings sites, and via social media. The best firms identify trusted information sources and work proactively to influence information on them. Common reason for failure: lack of interest in identifying what information candidates are most interested in and delivering a candid set of information. Step #9 The job application process by this step, potential candidates have been convinced to apply for a position, so the goal is for a large percentage of the qualified individuals who visit the site to complete the application process. Common reason for failure: most application processes are tedious or frustrating and there is no feedback mechanism to find out why applicants drop before they complete the process. Step #10 Sorting applications by job once applications are received, the goal is to ensure that the highest quality applications are sorted relevant to the most appropriate jobs (manually or via software). Common reason for failure: no metric or feedback mechanism to measure the percentage of applications that were routed to the wrong job. Step #11 The initial screening of applications and resumes at this step applications are screened to see if they meet minimum qualifications for the job. The goal is to successfully qualify the applicants so that qualified applicants are not sorted out and that only a small percentage of unqualified candidates make it to the next step.

Common reason for failure: the absence of a metric or feedback mechanism to measure the percentage of applications that were misclassified or that advanced without meeting minimum standards. Step #12 The initial phone screen having screened resumes, the next step involves screening the individual behind the application. The goal of this step is to gather additional information on the candidates qualifications and fit, which should help you more accurately determine which candidates advance to an interview. Common reason for failure: no metric or periodic testing to determine the accuracy of the screening process. Step #13 Interviewing and selling qualified applicants in this step the most qualified candidates advance to formal interviews and other assessment activities. The primary goal is to rank order the candidates by level of desirability, with a secondary goal of providing a positive candidate experience that effectively sells the best candidates on this job. Common reason for failure: the absence of a feedback mechanism to identify problems and candidate dissatisfaction with the process that leads to top talent opting out before the process is completed. Step #14 The final interview the goal of this step is to confirm your initial desirability ranking and set expectations among those most likely to receive an offer. Common reason for failure: the very best candidates have been previously screened out by mistake or voluntarily dropped out of the process, so remaining choices are mediocre. Step #15 The reference checking process with your short list vetted and expectations for an offer set, the next step validates the perception of your assessment team using references. The goal is to gather additional information on the finalist(s) and ensure information provided is not erroneous. Common reason for failure: the reference checking process is under funded and no one is accountable for demonstrating effectiveness.

Step #16 The offer process the goal of this step is to put together an offer that is within the companys boundaries and that meets as many of the candidates job acceptance criteria as possible. The process should have the sales and influence component that work to improve the likelihood of top candidates accepting. Common reason for failure: no one is held accountable for this step and there is seldom an effective mechanism to analyze failures and to provide feedback on how the offer process can be improved. Step #17 The post-offer acceptance process once an offer is accepted, it doesnt ensure the candidate will actually show up for work! The goal of this step is to ensure those that accept our offers dont back out (as a result of a counteroffer or second thoughts). That often means continuous communications with the new hire and providing more ties that closely link the individual to the firm prior to their start date. Common reason for failure: this step is often left to chance or is omitted. Step #18 The on boarding process contrary to popular belief, the primary goal of onboarding is not to get employees enrolled in benefits, but rather to provide resources and information that enable new hires to become productive as fast as possible. Common reason for failure: failures often occur because of the week handoff between the recruiting and on boarding functions and no defined budget for on boarding. Step #19 Feedback and new hire monitoring if the ultimate goal is continuous improvement of the recruiting process, then this step is the most important of all. The goal of this step is to assess the performance of new hires and to use that performance information to validate or prove that the overall recruiting process is producing quality hires. If a high percentage new hires fail, quit, or are poor performers, you will know that the hiring process needs significant improvement. A secondary goal is using new hires to determine what elements of the recruiting process were and were not effective. Some organizations also consider it a goal for recruiters to work individually with new hires to improve retention. Common reason for failure: this step is skipped altogether.

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Criteria for Assessing a Recruiting Failure Point


After mapping each of the steps of the recruiting process, the next thing to do is to determine if there are any indicators that point to an activity as a possible failure point. An individual step becomes an automatic candidate for closer examination as a key failure point if it meets one or more of the following six characteristics: 1. The step is absent if a step is nonexistent, it cant make its contribution to the overall hiring process! 2. The step has no defined goals without published clear and measurable goals, it is unlikely that any activity will purposely produce desirable results. 3. Performance measures do not exist without feedback mechanisms to provide data or metrics to monitor the output of the step, the probability of failure increases dramatically. 4. Handoffs are not aligned the handoff between preceding and subsequent activities is not aligned. If they are not aligned, the outputs of one step will not easily mesh with the inputs of the next step. 5. No individual is accountable if no individual owns the step, there is less likelihood that errors will be caught.

6. The step has no defined funding without a defined budget, there is no need to justify the existence and the performance of the step.

One of the quickest and cheapest ways to identify potential failure points is to make a simple list of the steps in the hiring process. For each step, list the primary goals, how you measure performance of the activities in the step, and who is accountable. If you find missing steps, unclear goals, missing metrics or lack of accountability, you know what weaknesses may be leading to poor performance.

.24. Sources Of Recruitment

Every organization has the option of choosing the candidates for its recruitment processes from two kinds of sources: internal and external sources. The sources within the organization itself (like transfer of employees from one department to other, promotions) to fill a position are known as the Internal sources of recruitment. Recruitment candidates from all the other sources (like outsourcing agencies etc.) are known as the External sources of recruitment.

Internal Sources of Recruitment

An internal recruiter (alternatively in-house recruiter or corporate recruiter) is member of a company or organization and typically works in the human resources (HR) department. Internal recruiters may be multi-functional, serving in an HR generalist role or in a specific role focusing all their time on recruiting. Activities vary from firm to firm but may include, screening CVs or rsums, conducting aptitude or psychological testing, interviewing, undertaking reference and background checks,

hiring; administering contracts, advising candidates on benefits, onboarding new recruits and conducting exit interviews with employees leaving the organisation. They can be permanent employees or hired as contractors for this purpose. Contract recruiters tend to move around between multiple companies, working at each one for a short stint as needed for specific hiring purposes. The responsibility is to filter candidates as per the requirements of each client.

The internal sources of recruitment are:1. Promotions: Promotion means to give a higher position, status, salary and responsibility to the employee. So, the vacancy can be filled by promoting a suitable candidate from the same organization.

2.Transfers: Transfer means a change in the place of employment without any


change in the position, status, salary and responsibility of the employee. So, the vacancy can be filled by transferring a suitable candidate from the same organisation.

3. Internal Advertisements : Here, the vacancy is advertised within the


organisation .The existing employees are asked to apply for the vacancy .So, recruitment is done from within the organisation. 4. Retired Managers: Sometimes, retired managers may be recalled for a short period. This is done when the organisation cannot find a suitable candidate. 5. Recall from Long Leave: The organisation may recall a manager who has gone on a long leave. This is done when the organisation faces a problem which can only be solved by that particular manager. After he solves the problem, his leave is extended.

Merits of Internal Sources

The benefits / advantages / merits of using internal sources of recruitment:1. It is time saving, economical, simple and reliable. 2. There is no need of induction training because the candidate already knows everything about the organisation, the work, the employee, the rules and regulations, etc. 3. It motivates the employees of work hard in order to get higher jobs in the same organisation. 4. It increases the morale of the employees and it improves the relations in the organisation. 5. It reduce executive turnover. 6. It develops loyalty and a sense of responsibility

Demerits of Internal Sources

The limitations / demerits of using internal sources of recruitment:1. It prevents new blood from entering the organisation. New blood brings innovative ideas, fresh thinking and dynamism into the organisation. 2. It has limited scope because it is not possible to fill up all types of vacancies from within the organisation. 3. The position of the person who is promoted or transferred will be vacant. 4. There may be bias or partiality in promoting or transferring persons from within the organisation. 5. Those who are not promoted will be unhappy. 6. The right person may be promoted or transferred only if proper confidential reports of all employees are maintained. This involves a lot of time, money and energy.

CHAPTER 3. EXTERNAL SOURCES OF RECRUITMENT

Professional or Trade Associations: Many associations provide placement service to its members. It consists of compiling job seekers lists and providing access to members during regional or national conventions. Also, the publications of these associations carry classified advertisements from employers interested in recruiting their members. These are particularly useful for attracting highly educated, experienced or skilled personnel. Also, the recruiters can zero on in specific job seekers, especially for hard-to-fill technical posts.

Advertisements: It is a popular method of seeking recruits, as many recruiters prefer advertisements because of their wide reach. Want ads describe the job benefits, identify the employer and tell those interested how to apply. Newspaper is the most common medium but for highly specialized recruits, advertisements may be placed in professional or business journals. Advertisements must contain proper information like the job content, working conditions, location of job, compensation including fringe benefits, job specifications, growth aspects, etc. The advertisement has to sell the idea that the company and job are perfect for the candidate. Recruitment advertisements can also serve as corporate advertisements to build company image. It also cost effective.

Employment Exchanges: Employment Exchanges have been set up all over the country in deference to the provision of the Employment Exchanges (Compulsory Notification of Vacancies) Act, 1959. The Act applies to all industrial establishments having 25 workers or more each. The Act requires all the industrial establishments to notify the vacancies before they are filled. The

major functions of the exchanges are to increase the pool of possible applicants and to do the preliminary screening. Thus, employment exchanges act as a link between the employers and the prospective employees. These offices are particularly useful to in recruiting blue-collar, white collar and technical workers.

Campus Recruitments: Colleges, universities, research laboratories, sports fields and institutes are fertile ground for recruiters, particularly the institutes. Campus Recruitment is going global with companies like HLL, Citibank, HCLHP, ANZ Grindlays, L&T, Motorola and Reliance looking for global markets. Some companies recruit a given number of candidates from these institutes every year. Campus recruitment is so much sought after that each college; university department or institute will have a placement officer to handle recruitment functions. However, it is often an expensive process, even if recruiting process produces job offers and acceptances eventually. A majority leave the organization within the first five years of their employment. Yet, it is a major source of recruitment for prestigious companies.

Walk-ins, Write-ins and Talk-ins: The most common and least expensive approach for candidates is direct applications, in which job seekers submit unsolicited application letters or resumes. Direct applications can also provide a pool of potential employees to meet future needs. From employees viewpoint, walk-ins are preferable as they are free from the hassles associated with other methods of recruitment. While direct applications are particularly effective in filling entry-level and unskilled vacancies, some organizations compile pools of potential employees from direct applications for skilled positions. Write-ins are those who send written enquiries. These jobseekers are asked to complete application forms for further processing. Talk-ins involves the job aspirants

meeting the recruiter (on an appropriated date) for detailed talks. No application is required to be submitted to the recruiter.

Contractors: They are used to recruit casual workers. The names of the workers are not entered in the company records and, to this extent; difficulties experienced in maintaining permanent workers are avoided.

Consultants: They are in the profession for recruiting and selecting managerial and executive personnel. They are useful as they have nationwide contacts and lend professionalism to the hiring process. They also keep prospective employer and employee anonymous. However, the cost can be a deterrent factor.

Head Hunters: They are useful in specialized and skilled candidate working in a particular company. An agent is sent to represent the recruiting company and offer is made to the candidate. This is a useful source when both the companies involved are in the same field, and the employee is reluctant to take the offer since he fears, that his company is testing his loyalty.

Radio, Television and Internet: Radio and television are used to reach certain types of job applicants such as skilled workers. Radio and television are used but sparingly, and that too, by government departments only. Companies in the private sector are hesitant to use the media because of high costs and also because they fear that such advertising will make the companies look desperate and damage their conservative image. However, there is nothing inherently desperate about using radio and television. It depends upon what is said and

how it is delivered. Internet is becoming a popular option for recruitment today. There are specialized sites like naukri.com. Also, websites of companies have a separate section wherein; aspirants can submit their resumes and applications. This provides a wider reach.

Competitors: This method is popularly known as poaching or raiding which involves identifying the right people in rival companies, offering them better terms and luring them away. For instance, several executives of HMT left to join Titan Watch Company. There are legal and ethical issues involved in raiding rival firms for potential candidates. From the legal point of view, an employee is expected to join a new organization only after obtaining a no objection certificate from his/ her present employer. Violating this requirement shall bind the employee to pay a few months salary to his/ her present employer as a punishment. However, there are many ethical issues attached to it.

Mergers and Acquisitions: When organizations combine, they have a pool of employees, out of whom some may not be necessary any longer. As a result, the new organization has, in effect, a pool of qualified job applicants. As a result, new jobs may be created. Both new and old jobs may be readily staffed by drawing the best-qualified applicants from this employee pool. This method facilitates the immediate implementation of an organizations strategic plan.

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Educational InstitutionDirect recruitment from colleges and universities


is prevalent for the recruitment of higher staff in western countries but not in

India. Many big organizations maintain a close liaison with educational institutions for recruitment to various jobs. Various recruiting groups develop systematic formal university recruiting programmers. They hold preliminary oncampus interviews and select some students for final interview mostly at their offices.

Employee recommendations-In order to encourage existing employees,


some concern have made a policy to recruit further staff only from the applicants introduced and recommended by employees or employees' union. Other conditions being equal, preference will be given to friends and relatives of existing employees.

LEASINGTo adjust short term fluctuations in personnel needs, the


possibilities of leasing personnel for some specified period may be considered. This system of leasing has been v. ell adopted by the public sector organizations with the rapid growth of public sector, the acute shortage of managerial personnel has been solved by borrowing the personnel from the Government departments. At the end of their term they are given option to choose either parent services or the present organisation.

Unsolicited ApplicationsOne of the important source of recruitment is


unsolicited applicants who send their requests for appointment against a vacancy, if any. By appointing such casual callers the employer saves not only

the selection and training costs but also expenditure in the form of pension,

insurance and fringe benefits.

ADVANTAGES OF EXTERNAL RECRUITMENT


1. It helps you acquire competitive intelligence about other firms. 2. New hires can help you identify other potential candidates to poach from their firm. 3. The new ideas that applicants and new hires bring in stimulate the thinking of others. 4. New hires ask why we do things that way so we are often forced to re-think the way we do things. 5. It keeps our employees on the edge because they know they must compete against outsiders for jobs. 6. Outside hires dont have political alliances already set up. This can help them implement new ideas without the baggage of past political battles. 7. Already trained external hires may give us instant talent for new products, programs, and skills. 8. Some argue that hiring already trained people is cheaper than developing and promoting internal talent. This effect varies depending on the cost of a new hire.

9. It allows other firms to train and weed out the turkeys so we can hire the cream of the crop. As a result it can lower training cost. 10. In a stagnant culture, outsiders might help shake things up and help us evolve our culture. 11. When you hire a great talent from a close competitor, you gain one and as an added benefitthe competitor also loses one. 12. The outside recruiting and advertising for outside hires may tangentially help build your brand, send a message that you are growing and also help boost sales. 13. Re-hiring boomerangs (former employees) may aid in retention efforts as they tell other employees that the grass is not greener on the outside. 14. In a fast-growing company (or small firms) you might have no choice but the higher externally because there isnt enough talent to go around inside the firm. 15. If the firm has weak training or development, the inside talent will not have sufficient skill to do the job. 16. If the firm has a weak hiring process promoting internally, is not a realistic option because of the lack of talent. 17. In jobs where you absolutely require experience, there may not be enough experience in newly developing areas. 18. External hiring forces are managers to stay up with trends and to benchmark as they interview search. This is the added impact of improving their learning. 19. In most cases external hiring adds more to the diversity of the workforce than internal hiring. 20. If the firm is going global, it will undoubtedly line that external local hires are superior and performance to internal promotions. 21. The World Wide Web makes recruiting so easy and inexpensive the advantage has shifted towards external hiring.

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DISADVANTAGES OF EXTERNAL RECRUITMENT


1. Outside hires can weaken the corporate culture by bringing in counter culture people. 2. The turnover rate for external hires is almost always higher than internal promotions because the candidates must both adjust to a new environment and they come to us as relative unknowns. 3. External hires often have a longer adjustment period and orientation costs are higher. 4. Customers may feel slighted if they dont get one of the Firms current employees. 5. In a tight job the (potentially) higher starting salaries of outside hires may cause internal equity issues and eventually increase all salaries. 6. In a tight job market there may be little external talent available or the quality of the limited talent may be poor. 7. Firms with strategic alliances may anger their partners by poaching their talent. 8. Hiring talent away from customers and suppliers may harm your business relationships. 9. Legal issues can occur when hiring intact teams, top technical talent with noncompete agreements. 10. In a competitive market you cant hire quality talent without a strong recruiting function. 11. Learning internet recruiting and setting up web pages may be prohibitively expensive or time consuming.

12. The world of external recruiting changes so rapidly and is so competitive that we might end up with lesser talent unless we can afford a strong recruiting function. 13. The likelihood of lawsuits resulting from illegal practices by hard to control managers is high. 14. External hires have already demonstrated their lack of loyalty by leaving their firm. They may have the same lack of loyalty at our firm, resulting and high turnover rate.

INTERNAL RECRUITMENT VS EXTERNAL RECRUITMENT

.36. External Recruitment Success Factors

The external recruitment is the HR Process, which is not fully manageable by the HRM Function. The external recruitment involves other external parties and they have to cooperate closely to bring a common success for the organization. The external recruitment is a difficult HR Process when it has to be done properly and meeting stretching requirements and goals of the top management. The HRM Function has to take initiatives in four important areas to make the external recruitment efficient, quick and bringing the right quality of candidates:

Organization Brand Name Correct Positioning of Job Posting Channels Used to promote the job vacancy Speed of the Recruitment Process

The brand name is very important for the external recruitment. The potential job candidates will not apply for the position with the organization, which has no name. The trust of the candidates is the essential for the successful external recruitment. The only way how to hide no name organization is the use of the recruitment agency, which can work without announcing the name of the client. Correct Positioning of the job vacancies is a role of the HRM Function. The HR Recruiter has to recognize the correct media and approach to the advertisement of the job vacancy. The job posting is the same as the commercial advertisement. The target group has to have a chance to be approached by the job advertisement to know about it. The channels used to advertise the job vacancy . The common answer of the HR Recruiters is use the Internet, you cannot lose anything. But the candidates for the position do not have to browse the Internet every day to look for the vacancies. The HR Recruiter has to know the habits and emotions of the target group to select the best channel, which mix the quality of the candidates and the price per one candidate. The speed of the external recruitment process is crucial condition for the success. The candidates have to catch and followed very quickly not to lose them in favor of a

different organization. When the candidate decides to look for a new career opportunity, then he or she expects to find a solution pretty quickly. The candidate will not wait for a long time to be invited for the job interview and then for the final decision of the organization. The HRM Function has to arrange everything before the external recruitment starts.

Yes Bank:
Yes Bank, Indias new private sector Bank, is the outcome of the professional commitment of top management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to Emerging India. Yes Bank has adopted best international practices, the highest standards of 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. The bank has been able to achieve this growth through four instruments. A focused business strategy and entrepreneurial leadership, highly rated employees, best-in-class processes and evolutionary technology. Yes Bank is pursuing a Brand strategy to build one of the finest financial brands in India and to provide an unprecedented delightful banking experience to all its customers. What has worked well for Yes bank is that

unlike the first lot of private banks that came up in the mid-1990s, it did not get caught in a liquidity crunch that was brought about by the high interest rate regime unleashed to contain inflationary pressures in 1995. Yes Bank started its operations in 2004 with branches in Mumbai, Delhi and Gurgaon (NCR).

Growth.
The total net worth of the bank as on 30 Jun 07 stands at INR 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.

Nature of Recruitment Problem Faced at Yes Bank (From Bank 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 close to about 25-40 officers per branch consisting of Relationship Managers, Sales Officers headed by the Branch Managers and Sales Managers. Further, there is a factor of about 30% attrition per annum, which has to be made good to maintain sales force levels. The following data substantiate attrition rates at Yes bank, Delhi

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Recruitment Process in Yes bank


The sales force required for a branch to function is Tellers, Customer Sales Managers, Customer Sales Executives, Sales Manager and a Branch Manager. The line managers drive the recruitment process for existing branches, whereas 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. Selection of right candidate is undertaken in a hierarchical process. The 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. Any candidate who has to be recruited is interviewed both by the line as 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 other YES parameters defined. The line managers look at the job fit whereas the HR looks at the organization fit of the employee.

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:-

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Line projects need for manpower

Informs HR

HR departmen t

Search for potential employees against job description

Consultants

References

RECRUITMENT METHODOLOGY Potential candidates identified

Interview by line and HR managers

Candidat e selected

No

Yes

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If senior managemen t position

Yes

Interview by CEO

No Back papers, resume, salary slip and offer letter of candidate sent to CEO along with the organization chart

Offer letter signed by CEO sent to the candidate

Employee joins and is given the joining kit by the HR department

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RECRUITMENT FLOW IN YES BANK


Job Descriptions They are lists of the general tasks, functions and responsibilities of a position. Typically, they also include to whom the position reports, specifications such as the qualifications/ experience needed by the person in the job, salary 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. Analysis of Methodologies for Recruitment of Sales Officers. 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) External Recruitment (i) (ii) (iii) (iv) (v) (b) Job consultants Online applications Referrals Campus placements Direct Advertisement

Internal Recruitment

Job Consultants.

In this process, the bank ties-up with an empanelled a 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 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:ADVANTAGES & DIS-ADVANTAGES OF JOB CONSULTANTS ADVANTAGES DISADVANTAGES (a) Get candidates for specific skill (a) Very expensive. set/ profile. (b) (c) Resume are screened specific profile. Quick and effective way of matching employers and potential candidates. 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. Online Application. Banks have online portal where they advertise 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:(b) for (c) Not suitable for mass induction. Dependent of credibility of

consultants.

.45. ADVANTAGES & DISADVANTAGES OF ONLINE STSTEM ADVANTAGES DISADVANTAGES (d) Quick and easy way of matching (a) Lot of junk resume for jobs employers and potential candidates. (e) (f) Inexpensive. Wide publicity. irrelevant Therefore screening. (b) Not all candidates are accustomed to looking for jobs in this manner. (c) Publicity limited to internet users. (d) Loss of human interaction. 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 Referral. Companies/banks runs an employee referral scheme, which encourages 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:to their requires specialization. extensive

.46. ADVANTAGES & DISADVANTAGES OF REFERRAL STSTEM ADVANTAGES DISADVANTAGES (a) Inexpensive compared to job (a) You may be obligated to hire in consultants. (b) (c) (d) of the culture. good potential. Results are quick. certain cases when candidate is not (b) May lead to inter-personal issues. May not always produce desired Referred candidates are aware suitable. Employees refer candidates with (c)

results. (d) Not suitable for mass recruitment. (e) Not sustainable in the long run. (f) Issues arise when referred candidate is selected and does not perform or quits.

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. Campus Placement. The banks go Business schools for recruiting 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:-

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ADVANTAGES & DIS-ADVANTAGES OF CAMPUS PLACEMENT ADVANTAGES DISADVANTAGES (a) Inexpensive. (a) Competition is fierce. Companies/ (b) levels. (c) (d) (e) (f) Allows hiring specific skills. Good for mass induction at lower Banks all across India compete for similar un-experienced low cost skills. (b) Linked to academic session and useful towards long term Source of talent that can be trained therefore Provides talented youth with drive.

towards specific competence.

manpower requirements. (c) It has been observed that often good have many job offers. Therefore, may not ultimately join. (d) Training costs are very high for candidates taken from campuses

Helps banks build reputation during candidates

such job fair/ campus placement.

Campus recruitment is a cost effective model for mass recruitment after 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.

Direct Advertisement.
This is the age old method of bringing 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:-

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ADVANTAGES & DIS-ADVANTAGES OF DIRECT ADVERTISEMENT ADVANTAGES DISADVANTAGES (a) Effective medium when job (a) Ideal for mass recruitment. requirements and competencies are (b) May bring many applications which well defined. (b) Very good reach. may not be suitable for the position. Therefore, screening. (c) Can involve cost and results take some time to fructify. requires extensive

Recruitment Plan.

Based on the recruitment methodology arrived or the

organization wishes to adopt, a recruitment plan should be devised. The present study after taking all available data and inputs came up with a Recruitment Plan template. This template in placed at Annexure. The following are the salient points towards a successful recruitment plan:(a) Recruiting the right person starts with a detailed job description and personal specification. It also involves following a recruitment process that produces a suitable candidate at a minimum cost to the bank. (b) The more complex the job, the more complex the recruitment process needs would be. However, as a minimum, the interview process should include at least two level interviews, a psychometric assessment and a thorough reference check. (c) (d) Advertisements through various recruitment methodologies should be Interviews should be highly structured and based on proven clear, to the point indicating job description. methodologies. They should reveal levels of competency in key areas, appropriateness of experience, personality strengths and weaknesses and integrity. (e) Carefully selected psychometric assessments are valuable tools in the selection process, but not to the exclusion of a structured interview. Individuals

should be selected on the basis of past performance, competence and personality. (f) Always recruit the right person for the job. Recruitment should be seen as a 'rejection process' as much as a 'selection process'. One shouldnt be tempted to pick 'the best of from a bad lot (g) (h) Screen likely candidates with a simple telephone interview before When one actually meets the candidates, let them tell about their deciding who to invite for the face-to-face interview. background and achievements. The details about the job, the compensation, the company, etc should follow. (i) (j) (k) 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. Background & reference checks are very vital. During interview of new needed to invest in the candidate and whether he or she is worth that investment.

sales officers at Yes Bank, it was found that around 40% of new employees never had references taken up. Background checks should be as thorough, as possible and should include employment history and character references.

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CHAPTER 4. Recommendation
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.

Proposed Recruitment Methodology 20 15 Campus Referral Internal Others 5 20 20 10 10 Job Consultant Direct Advertisement Online

Conclusion This report has investigated the various methodologies for recruitment 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 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) strategies. Ensure you look internally prior to adopting any external recruitment

(b) (c) (d) (e) (f) (g) (h) (i)

Have a clear understanding of the current marketplace including Map a consistent recruitment / hiring process for each new recruit. Create a consistent job profile for each requirement. Ensure feedback is offered. Feedback forms should be completed for Ensure relevant management information is collated and presented to Have a clear understanding of the best methods of attracting Review all testing and assessment products and processes. Once you have successfully recruited staff, make sure you keep them

salary, skills shortages reasons for candidates to join the bank.

each candidate interviewed. hiring managers from suppliers. employees, devise an attraction strategy.

by introducing attractive retention measures and developing innovative and creative training programme to keep them motivated and engaged. (j) Hold focus group meetings of employees.

BIBLIOGRAPHY

BOOKS: 1. Professor Dr. M. Ataur Rahman, Strategic Human Resource Management, 2nd ed., 2009 2. B. Wherther and JR. K. Devis, Human Resource and Personnel Management, 5th ed., 2004 3.Gary Dessler; Human Resource Management; Seventh Edition; Prentice Hall of India, New Delhi-110001, India. 4. David A. Decenzo and Stephen P. Robbins, Fundamentals of Human Resource Management,

Eight Edition, 2011-2012 WEBSITES: I. http://YESBANK .com II. http://en.wikipedia.org/wiki/dbbl_bd

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