Developing a Great Digital Environment and Candidate Pooling In Banking Industry
Meena (2020), argues that, banking sector has been passing through rapid transformation due to progressive economic reforms and fast pace of technology.
Our
bank has provided new digital platform for the recruitment of employees through
our official website. Candidate who
match the eligible criteria may apply for a suitable job in our organization.
Our Banking recruitment policy is to hire staff of the highest caliber, hence,
they advertise through a platform that would reach the eligible candidates to a
suitable position.
According
to Rooney (2021), Unemployed people
have focused more on learning digital skills, such as data analysis and
information technology. Nowadays banking
sector is driven towards digital era, hence, our bank is expecting to recruit
staff with more IT knowledge.
The
Banking sector would like to recruit candidate who are enthusiastic to learn
about online banking, electronic banking products including ATM, Debit Cards,
and online bill paying service. Respond
to the customer who call over to our bank, inquiring regarding the bank’s
electronic banking products.
Figure
2: Data is increasingly driving decision –making
Stobierski
(2019)
Stobierski (2019)
states that Data driven decision making is the process of using data to inform
your decision – making process and validate a course of action before
committing to it.
Our
bank is a longstanding bank and a challenger to other competitor banks, we give
services on timely manner, since we maintain a right analytics database in
which we are able to predict and detect the customer trends to improve our
service excellence and render the required services.
Xu
(2011), informs that, the globalization of economies and information
technology and the abundant distributed storage and sharing of data puts the
issue of the privacy on the forefront of the social policies and
practices.
Although
the Covid -19 Pandemic has radically changed the face of banking industry,
sudden transition to remote working occasioned by various national social
distancing and lockdown measures. While
remote working standard of the security measures with regard to customer data
base are highly secured. Our bank has
aimed at ensuring cloud security, data protection privacy are ensured that they
are highly protected.
Castellano (2013),
discussed that, when using contingent workplace should carry out two things
such as consider using a prescreened pool of extended workers who already know
the company and secondly, capture the knowledge of extended workers before they
leave.
Our
banking sector, recruits specially training Marketing Trainees, who are able to
act individually and canvass more products through applying various set of
strategies from social media engagement to sourcing talent. These Marketing Trainees are recruited within
their talent acquisition.
As
explained by Wenninger (2000), many
banks have placed a cost-efficient electronic access channel for traditional
banking products. Banks are planning to
offer new products designed specifically for e-commerce.
Figure 3 : Locked Down : Recruiting When You Can’t Travel
Bowman
(2020)
Chamorro-Premuzic (2012),
discusses that, our online behaviors are now also of interest to recruiters and
employers, who are desperately trying to translate them into “digital
reputations” and use them to find talent online.
Figure
4: Social and Digital Recruiting can be Efficient if Strategically Targeted
Stajduhar (2018)
As
discussed by Stajduhar (2018),
Digital platform can be efficient and cost-effective for recruitment, the
challenge is that leveraging these platforms successfully requires both a keen
understanding of the candidate pool and proficiency in social media.
Targeted
Outreach
Corbanese (2017)
has discussed that the idea behind emphasizing youth unemployment and
inactivity is that these can have potential long-lasting consequences on
individuals reduced employment opportunities and lower earnings in adulthood.
Most
of the banking marketing strategies is to target general audiences or wide
audience such as Z Generation, Millennials.
Our bank is granting opportunity to school leaver to gain experience in
financial sector and if they are willing to continue with banking they are
given first preference in recruiting permanent staff.
Targeted
E-mails
Shaferhoff (2021),
states that an excellent email marketing software should have all the important
essentials such as adding email contacts in bulk, email automation features,
SMS sending, detailed reporting, high deliverability
Target
e-mails are used to as a channel to promote products and to recruit candidate
to our banking industry. They increase
our banks sales cycle, and add value to marketing and service communication.
Social
Networks
According to Wilson (2020), young people crave
privacy, safety, and a respite from the throngs of people on socials platforms,
and gravitating towards more intimate destinations.
Social media accounts
in our bank will engage with the community, answering queries, post offers and
promote vacancies. Our bank’s Facebook
page carries variety of job vacancies, products which are marketed at our bank
and then services which are rendered at branches.
Job
Boards
Daria
(2019), suggests to choose open source software if you want
to start fast and validate the business idea with a minimal budget.
Hiring in Digital Age:
Improving
processes with AI
Vedapradha (2019),
states that artificial intelligence has been the most apt innovative technology
that facilities in better recruitment process when implemented strategically
having a significant effect on the performance of the employees.
Employer
Branding
Pouesard (2021),
states that, big or small the initiative, the important thing is
coherence. There must be a red thread
between your organization’s purposes.
Organizations that understand this today will be the success stories of
tomorrow.
Figure
5: Recruitment Marketing
Cummings
(2016)
As
per Cummings (2016), attracting of
great candidates, associations need to apply great marketing skills to the
recruitment process. No matter your
organization’s size or budget, you can incorporate 05 marketing strategies in
recruitment, such as Think like a marketer, Create a marketing plan, Create
effective messages, Deploy tactics and Identify practical metrics.
Targeted
job ads
Nelson (2019), states that many companies applaud social media recruitment platform because it allows them to gather an abundance of information about potential job candidates.
Figure 6: Video Interviewing
Strazzulla
(2019)
Strazzulla (2019),
states that video interviewing software has become an increasingly popular way
for business to screen candidates. Many companies are using video interviews on
their hiring process in order to streamline and expedite the hiring process.
Sharma (2013),
discussed that Modern HR professionals are now becoming more strategic and
proactive, and have to be experts on all social and technical trends that can
improve their teams. A huge impact has
occurred in main HR functions such as Recruitment, Training and Development,
Performance Management, Payroll, ESS and Workflow management.
Sackett (2016),
says that hourly recruiting is much like the positions you are hiring,
hands-on, difficult, leaderships even devalues those recruiters who take on the
task of filling these kinds of roles.
Customized strategies engage special population in research, In-house design of advertising materials, and creation of targeted social media post Karimipour (2017).
Video 2 : How to create a productive working environment
Mcgee (2019)
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Yes Treva, I agree with your views that you have posted in your posts as Banks need to understand what Digital Reinvention means for them based on their specific strategy and readiness to compete in the digital arena. Their efforts will need to be strategic to reach desired business goals with available capital and within an acceptable time frame Sarah, (2017)
ReplyDeleteAdding to you comment Hshanthika, as per Bender (2018), bold and tightly integrated digital strategies will be the biggest differentiator between companies that win and companies that don’t, and the biggest payouts will go to those that initiate digital disruptions. Fast- followers with operational excellence and superior organizational health won’t be far behind.
DeleteThis comment has been removed by the author.
ReplyDeleteAdding to your views the most important factors that caused the Transformation of traditional banking services are acceleration of the globalization of world economic relations, innovative leap in the field of information and telecommunication technologies, penetration of foreign banks into financial markets of many countries, increased competition between banks, integrated innovative solutions in customer service, etc. (Toloraya & Yarygina, 2017).
ReplyDeleteAddition to this, Daniel (2020) discussed, a less-interconnected network of relationships among employees reduces the sense of commitment to one another and to the organization. Teammates who have worked together for longer periods develop a more intuitive understanding of each other, what they mean when they speak, how they work as higher performance.
DeleteAgree with you and want to bring another factor here. The development of the Internet and social networks opens up new opportunities in the implementation of the recruitment and selection activities. The majority of company management finds that the structure of the labor force in the labor market has changed a lot, and traditional recruitment and selection techniques are not sufficient to attract and retain a new generation which has different demands and expectations from work. In order to obtain credible and useful information necessary for deciding on the choice of an adequate candidate, it is necessary to combine traditional and modern techniques, with the increasing use of the internet (Slavic et. al, 2017)
ReplyDeleteIn addition, Creating an employer brand to attract and hire top tech talent has specific problem. A strong employer brand starts with understanding how it functions to attract and engage tech candidate. An employer brand reflects how current and potential employees perceive the company’s culture and values (Plamondon, 2020).
DeleteAgree with you Treva, Adding to your argument, According to Gigauri, et al., (2020) Today’s complex environment has led to many changes including the process of recruiting, and online recruitment (OR) has become an important source of recruitment for human resource managers. Human Resource Managers need to adapt to new challenges caused the recent pandemic crisis, and get used to working online with employees, managing digital processes, dealing with employee dismissal, as well as carry out retention and selection procedures online.
ReplyDeleteAnd also, Digital future depends on developing the next generation of skills, closing the gap between talent supply and demand, and future-proofing you own and others potential. The main implication is that when leaders think about investing in technology, they should first think about investing in the people who can make that technology useful (Frankiewicz et al., 2020).
DeleteAgree with you. adding further more on digital recruiting as the use of technology to improve efficiency, effectiveness, and impact, reduce costs, and/or increase capacity across the recruitment process. In general, digital recruiting (also known as online recruitment) can facilitate in reaching a wider pool of potential candidates as well as facilitating the selection life cycle(Armstrong,M. 2009).
ReplyDeleteDigital communication affect wellbeing at work which indicates that from the perspective of enhancing digital communicated related working conditions and wellbeing at work has greater leverage can gained by developing well-communicated standard operating practices and conventions in the workplace (Okkonen et al., 2018).
DeleteAgreed Treva. Adding to that candidates more prefer to find jobs through professional oriented websites, such as corporate website, LinkedIn rather than personally oriented social media (Nikolaou et al., 2020).
ReplyDeleteAgreed, expectations of work can be fallen in to three different categories, namely income and security, high-quality interpersonal relationships and opportunities for personal development, fulfillment and self-expression at work, and work must meet these three types of expectation whether it is real or virtual and face to face or remote (Valenduc, 2016).
Delete