Employee Resourcing in Banking Sector

  What is Strategic Selection? Selection is the process of selecting the best qualified candidate from a group of applicants. But Strategic selection is " linking the selection activities to company's strategic objectives, goals & culture".  "Strategic selection is not a technique; it is a managerial responsibility" (Bowman & Asch, 1987). An organization can only be successful and reach its strategic objectives by employing individuals who have the capacity and desire to contribute to its mission without any force. Strategic Selection Methods Head hunters and recruiters using various hiring methods to select most suitable candidates for a specific job role in multiple ways. But can a recruiter check and cover all the required qualification of a candidate if you have a vey short time period for the recruitment? Here are some basic points that need to check when strategically selecting suitable employees from a group of candidates. Test the job knowledge T...

Role of Training & Development  Training & development of any organization is basically design in order to  manage people in the organization to fulfill the organization's goals and strengthen its corporate culture. Further, the HR departments of every company assist & teach their employees to acquire new skills as well as to develop abilities which help them to perform their job role in confidence. By doing so, the management expect them to reach their maximum and perform better to be competitive in frequently changing industry.  T & D unit of HR department has a major role when designing trainings for employees. It should cover all employees from bottom to top and they should analyze industry trends, new implementations such as digitalization, cyber security, systems, policies & procedure changes etc. When employees are accoutered with their skills & knowledge it is easy to drive them towards the path where the company needs to be.  How man...

Industry Competition & Employee Resourcing T he success of every organization depends on the quality & ability of its employees/human resources. It is same for banking sector . According to  Bhatia & Kaur (2021) " adopt proper and purpose oriented training, logical and rational placement, development of healthier attitudes, objective appraisal system, better leadership and development of higher individual/group morale for the development of the human resource at their command" During past few years Sri Lankan banking sector has experienced significant transformation in terms of digitalization, customer expectations, regulatory requirements & most importantly employee expectations. It is very challenging to navigate in the industry with a confidence as there is high competition in the industry. Soon after COVID 19 pandemic, inflation of the country resulted increasing high employee turnover of banking sector which is similar to all other industries. Most of the...

 What is Employee Resourcing ? Employee resourcing is starting from advertising the vacancy, a good description of job role, screening applications, interviewing the candidates and finally selecting the most suitable person to the company out of potential bunch of people. Most of the organizations using their own resourcing strategies which are changing depending on industry changes and demand. According to Armstrong (2012) "Recruitment is a process of searching and employing people, that an organization needs". Traditional & Modern Resourcing  before industrial revolution, people had very simple methods when it comes to resourcing. As most of the work related to manual labor, people who had strong body and  ability to do heavy-duty could easily find jobs in anywhere. So, people only seek jobs in local areas or visit nearest town to find jobs which can earn more wages. After industrial revolution up until early 2000, people gradually used news-papers, headhunting met...

What is Employee Turnover? " Employee turnover refers to the total number of workers who leave a company over a certain time period. It includes those who exit voluntarily as well as employees who are fired or laid off—that is, involuntary turnover" (Holliday, 2021) What is Employee Retention? Employee retention can be simply defined as “employees' pattern to stay with their current employer without seeking any potential job opportunities from the competitors”                                                                                           (Insperity Staff,2024) Why would people tend to seek new opportunities or prefer for a change of environment regularly? From 2022 until mid 2023 most of the banks' retention ratio dropped considerably. As per my personal ...