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Formulation and Implementation of Recruitment & Selection in company Amana Invests

A Project Report Prepared By D.A.S.Wickramasinghe CCHRM 09SA/04/07

Course: Certificate Course in Human Resource Management May 2009

INSTITUTE OF PERSONNEL MANAGEMENT SRILANKA

IPM www.ipmlk.org

Contents
List of illustrations List of Tables Acknowledgment Executive Summary INTRODUTION Background of the Organization Objectives of the Organization Products or Services and Customers or Market Segment Organization Structure

OBJECTIVES OF THE STUDY

REVIEW OF LITERATURE

ANALYSIS Methodology Analysis

FINDINGS (KEY ISSUZES)

RECOMMENDATIONS Appendix 1: Company data profiles Appendix 11: Survey questionnaire Appendix 111: Additional data List of References

List of illustrations Structure of the organization The recruitment process

List of tables Methods of recruitment

Acknowledgment
I would like to offer my gratitude to the many individuals and organizations that contributed to this work, on both academic and personal levels. First and foremost, to the Organization of Amana Invests, for helping me and enabling my work on Recruitment and Selection and also, for supporting my study welcoming me into their incredible organization and supporting this project every step of the way.

I would also like to express my appreciation to all my friends and family for all their support over the last two months.

Finally, I would like to offer special thanks to IPM institute for the giving advices to success this project.

D.A.S.Wickramasinghe CCHRM, 09SA/04/04

Executive Summary
This study provided me structure and tips for creating an employee recruitment and selection survey questionnaire. And also the related theoretical points about recruitment and selection. This organizational recruitment and selection study provided good practical knowledge of recruitment and selection. Employee recruitment and selection questionnaires Questionnaire is usually very helpful to get good understanding about the project to everybody. So its very easy to do our project according to the questionnaire. The recruitment and selection process is varying from company to company. But there are common factors in this process in all companies. So we must create the questionnaire to get answers to those common factors. Finally, I Would Like To Say This Study Was an Ideal Experience for My Career Development in Field Of Human Resources Management

INTRODUCTION

The recruitment and selection process is very important to the all companies, because the man power is very valuable thing for the company. So recruit right person to the right job at the right time is very important. All the companies recruit new employees because of pension and turnover of the old employees.

Recruitment is process of generating a pool of qualified applicants, for a particular job, from which the most suitable candidate could be chosen. In other hand there are lot of qualified people out from the universities and institutions. So selecting the right person to the job is very hard. Because of all the applicants have same qualifications.

Background of organization

Amana Investments Limited, Sri Lankas premier provider of Islamic Financial Solutions, offers a range of World Class Sharia- compliant products to customers. Since its inception in 1997, Amana has emerged as a robust trendsetter in Sri Lankas financial services sector and shown remarkable growth in business. The entire range of products is interest-free and structured on the principles of equity and fairness and available to all persons, irrespective of their ethnicity. All products are approved by the Sharia Supervisory Council and subject to regular Sharia audits

Vision of the Amana invests Be a World Class Islamic Financial Solutions Provider Core Values of Amana invests a law abiding corporate citizen. Believe in just and equitable financial solutions. believe in continuously building trust and credibility with all people Care for their customers and work to exceed their expectations. have a passion to succeed through innovative products and services care for their employees, their growth and well being Board of Directors of Amana Invests Osman Kassim - Chairman Faizal Salieh Managing Director Dr. A.A.M.Haroon Tyeab Akbarally M. Thahir Dato Ahmad Tajudin Abdul Rahman Dato Zukri Bin Samat Dr. Ifthikar Ismail

Amana Group Companies


Amana Invests Limited

Amana Securities Limited (100%) Amana Capital Limited (100%) Lanka Commodity Brokers Limited Lawyers
Abdeen Associates Attornys-at-Law & Notaries Public D.L. & F De Saram

Amana Takaful Limited IGL Lanka Limited

Address Amana Investments Limited 480, Galle Road, Colombo 3, Sri Lanka.

Telephone/Fax/E-mail Telephone: +94-11-2564090 Fax: +94-11-2574419 Email: info@amana.lk Services Unregistered and Registered vehicles leasing Equipment and Machinery leasing Facility for house purchases Cost Plus Sale for Imports and Local trading activities Joint Venture Financing where all the partners share the profit or loss.

Structure of the Amana Invests organization

CEO

Board of Directors

MD

Marketing

HR

Finance

Credit Admin

IT

Trade Finance

Facility

HOP

Objectives of the Study

To examine an Employee Recruitment & Selection from a theoretical stand point. The fundamental and principles of Employee Recruitment & Selection discussed in the class room are to be placed in the context of a real life organizational setting. The major focus of this study will be on understanding employee Recruitment & Selection in organizational settings. Emphasis will be on attempting to understand the causes and consequences of Recruitment & Selection behavior in organizations. such as, The way that organization recruitment process comments on? The way that organization selection of new employees process comments on? The important of Recruitment & Selection in an organization.

This study is, designed to touch on a variety of areas and topics relevant to the employee Recruitment & Selection in organizations. As such, the coverage of these topics will not be in great depth. Advanced elective work in these areas is available for the interested persons.

Recruitment & Selection


Recruitment is a crucial step in staffing the organization. for any organization, its people are the primary resources to it. It is this resource that activates all other resources obtained by and available to the organization. Recruitment thus as the 1st step in the process of acquiring the necessary people for the organization. Therefore finding the right person to the right job at the right time is very important to any organizations success. Recruitment is the process of generating a pool of qualified applicants, for a particular post/job, from which the most suitable candidate/s be chosen.

The Recruitment Process


Identify the Job vacancy Preparation of JD & JS Recruitment

Welcome new employee (Induction)

Selection

Identify the Job vacancy This is the 1st step in the recruitment process, where the number of existing vacancies are identified; in what location, in what positions of the organization and determine by when such vacancies should be filled. This is also called Man power planning or Human resource planning.

Preparation of JD & JS JD & JS will form the basis of recruitment.

Recruitment To attract and get in touch with the potential applicant.

Selection from applicants those seem as having the best potential to be valuable, productive who could contribute to the success of the organization.

Welcome new employee (Induction) To welcome the new employees and induct them.

Methods of Recruitment

Internal sources External sources

Source Internal Recruiting from the existing employees of the organization.


Transfers Promotions Referrals of employees Former employees

Advantages

Drawbacks

Familiarity Better utilization of internal talent. Economical Motivational value

Restricted choice Inbreeding Absence of competition Conflict

External Recruiting from the prospective candidates outside of the organization.


Advertising Employment agencies Educational Institutions Special events

Wide options available Incorporation of new ideas Infusion of new blood Element of competition Indirect publicity for the company

Frustration amongst existing employees High expense Take long time Lack of certainty Time consuming

The Recruitment Procedures Important of having an efficient and effective procedure foe recruitment and selection is very important. One of the most important 1stbsteps in planning for recruitment is to establish a suitable policy and procedure. Success or desired results could be achieved only then. A recruitment policy in a typical situation may indicate out the principles or the code of the company adopting in recruitment. E.g.:
Advertise all vacancies internally. Reply all job applicants with minimum delay. Aim to inform all potential candidates basic details and job conditions of every job advertised.

Aim to process all applications with the same efficiency Seek candidates on the basis of their qualifications for the vacancy. Aim to ensure that every candidate invited for interview will be given a fair and a through hearing.

Essential step in recruitment is to get a clear picture of what kind of people the organization needs. The basic elements of this process of this process are to prepare. Job analysis Job description Job specification

Selection
Selection is a process by which you select the most suitable and qualified individuals for specific positions in the organization. Why selection of right employee is so important. Your own performances always depend in part on your subordinates. Employees with the right skills and attributes will do a better job for you and the company. It is too costly to recruit and hire employees. Legal implications.

The Selection Process Screening and Short-Listing of Applications(Review Applications) Preliminary interviews Employment test/Selection test Secondary interviews Reference checking Medical examination Selection decision

Screening and Short-Listing of Applications its obvious that you will get applications which are not in line with the advertised criteria. In order to reduce time wasting, these applications need to be screened out and only the applications which meet minimum entry criteria will be taken to the next step.

Preliminary Interviews this is a process that determines whether applicant is in fact as impressive as the application submitted. This brings about one of the 1st personnel contacts of an individual with the company and since its the stage at which some candidates get rejected. Types of Interviews Structured(Directive) Unstructured(Non-Directive) Methods of Interviews Personnel Interview Panel Interview Mass Interview Computerized Interview Video tape Interview

Employment test/Selection test Many types of tests are available to be used in the selection of candidates. We can conveniently classify tests according to whether they measure mental abilities, physical abilities, personality. Personality test Test of motor and physical abilities Intelligent test Simulations Management Assessment Centers

Secondary Interviews Most organizations have a minimum of 2 or 3 interviews depending on the recruitment procedure of the company. Reference Checking This usually takes place either before or after the 2nd interview. Most organizations provide space on the application from for the purpose of listing references. References can be obtained either personally from the schools and institutions or from past employer.

Medical Examination Medical tests are a requirement in certain organizations. Candidates have to be proved fit for employment in certain trades such as armed services.

Selection Decision After obtaining and evaluating the information about the finalist in the job selection process, the managers next step is to make the actual hiring decision. The person who usually makes the final decision is the manager who is responsible for the performance of new employee.

Methodology
1. Before the study a. Research the company b. Learn resume or application c. Familiar with the position description d. Prepare some answers or example e. Think of a few questions to ask f. Plan travel time g. Bring original documents

2. Methods of study a. Interview Method b. Questionnaire method c. Observation Method d. On line Information

Analysis of Recruitment & Selection in Amana Invests

Amana invests company is very popular company in Srilanka and they have many branches in all over the country. So they have very big number of employees. Among their employees some are turnover the organization and some designate from the organization. So company has many vacancies and HR department must fill these vacancies. So their recruit and select new employees highly recommended way. So the company has 8 major departments and if their have any vacancy the department heads are informed the HR department and HR department get all the information about that job vacancy and they get responsibility to recruit a new employee to that position. The 1st step of recruitment process is the HR department find an existing employee in their organization and if they found an employee in their organization they give that job to the employee. So that way is very profitable to their company. The methods of advertising vacancies Notice Boards Circulars Annual General Meeting Company journal

By recruiting existing employees to higher post, its very advantages for the company. Because the time they spent to recruit a new employee is very few. In otherwise managers confidence about the employee is very high and the employee is highly motivated and he/she do their work accurately.

Otherwise if they recruit a employee out side of the organization. This is get more time to recruit a new employee and spent more money to recruit an employee. The 1st step is the HR department put an advertisement on the media about the vacancy. The ways that they advertise are Newspapers www.amana.lk www.sofjob.com So in that advertisement they published all the information of the position and they publish the job application in their web site and www.sofjob.com.They give a deadline to all the candidates

to submit their applications to the HR department and they strictly reject the applications that submitted after the deadline. After the deadline the HR department collect the all the applications which they are received and they firstly they check whether all the CVs and applications are in order to suitable manner. If they arent reject those applications. After the checking those applications they send a letters to all applicants those who are select to the 1st interview. The purpose of the1st interview is identifying the applicant to the interview board; the interview board consists with 3 members. The applicant should introduce his/her self to the interview board. After the 1st interview they select some number of applicants to the 2nd step. The 2nd step is writing exam. The examination questions are consisting with 4 major parts. Job related Math Writing skills General knowledge

They give marksout of 200 and those who got above 125 considered pass. Strictly say that they doing the examinations for the above of officers level. The 3rd step is second interview. It is called as rough interview, because this interview is the turning point of the applicant. If the applicant the pass the interview he/her can reach the last step and if he failed he/her will throw out. After the 2nd interview the next step is the 2nd examination. Its too difficult to the applicant. The examination consists with 2 major parts. Job related General knowledge They give marks out of 100 and those who got above 70 considered pass. And the next step is interview with department heads. After this interview, the applicant who passes this interview, company recruits them as new employees. Before the recruitment the company checks the references of applicants and the do medical examination to the applicant. After all of these new employee is welcome to the company.

FINDINGS

Amana Invests is very huge investment company in Srilanka. So they have big number of employees. After ending of their service, they are turnover from the company.

So department heads are must recruit new employees to fill those vacancies. Most of the department heads idea is recruits new employees out side of the company. The department heads are consider as recruiting new employees from the outside is very advantage for their company. But the existing employees have more experiences and they have good understanding about the environment of the company. So 1st departments heads are should give chance to their existing employees. In other hand its also very advantage for the company. Because the employees are motivated and doing the works to company success. The HR department is held the examinations for above of officers level. They didnt hold the examinations for below of the officers level of employees when they were recruiting. Its a wrong idea. Because the below of the officers level employees are also valuable resources to the company. So when they recruiting the company, the company must check their knowledge.

In other hand firstly they published their vacancies in their web site. But the few of people have the internet facility. So some of the qualified people didnt get chance to send the job applications. They published it on newspapers two weeks before to the deadline. So it is too short period to send job applications.

They do references checking after the applicant selecting from the 2nd interview. But they should check it after the 1st interview.

RECOMMENDATIONS

Amana Invests is big company and their existing employees and customers are heart of the company. So the recruiting system of Amana invests is highly recommended and its very transparency. But the after the 2nd examination the company informed the applicant by calling to him/her. Its very unpleasant, because if the company calling to the applicant when he busy time or when he switched off the phone, the applicant will skip that big opportunity. So company should send a letter to the applicant, its highly appropriate.