Bus353 Project Management : Development Assessment Answers

Answer:

1. Introduction

The motive of this research is to analyze and identify about the requirement of personnel management and the impact of the same on the companies and its employees. The performance management is directly related to the productivity of the company and the performance of the employees who are working in a company (Zhang, & Bartol, 2010). The company on which the further discussion takes place in this study is DBS bank of Singapore.

I am appointed as Human resource manager of DBS bank and the motive is to prepare a report related to the job analysis, job design, recruitment and selection strategies that can be adopted by DBS bank in the future so that they can fulfill the staffing needs keeping in view that all the personnel needs and strategies can be fulfilled. The personnel management takes place by the strategic managers of the company who are responsible in framing all the strategies and policies of the company and its employees (Cherniss, 2003). The personnel management is a management that helps the company to focus on its operations as it is workforces centered management.

1.1 An overview on the company

Development bank of Singapore (DBS) group holding is a company that is headquartered in Singapore. This company is one of the largest companies in the financial sectors of Asia. The company comes under the banks of Asian pacific region and enjoying highest ratings that too credit ratings in the market and financial industry. The bank is the highest bank in South-east Asia.

Development bank of Singapore (DBS) was initiated in 1868 that is considered as one of the finest bank of the entire world. It is measured by the assets and plays a dominant role in the consumer banking, securities brokerage, treasury and markets, equity and debt funding. This banking group is forth largest banking group in the Hong Kong. The bank serves many people including large institutions like corporate, institutional and retail customers by the functions and operations takes place in their company (Barzelay, 2001). The bank is a financial company and a bank that has many subsidiaries. The major asset for this bank is its customers as it is a customer based banking company.

1.2 Nature of the business

Development bank of Singapore (DBS) is a financial institution that is a strong and stable company and provides a wide range of products and services related to finance. The company is also dealing in the process of problem solving and gives their 100 % to solve the problems of their customers. in order to accomplish the desired goals and objectives of the company , Development bank of Singapore (DBS)  is very much concerned and committed towards  the empowerment, engagement, and educations of the workforce and employees working with them so that with the development and growth of the company, the employees who are the part of the company can also growth. In this way, the company has strengthened the workforce in their company (Rainey, & Bozeman, 2000).

1.3 Plans in Singapore

Development bank of Singapore (DBS) is dealing in Singapore and Hong Kong which are the primary market for the same. So the company and its net profits shows from both of the laces is 85 % in the year ending 2008 (Cohen, 2007). The company is enjoying a dominating position as it is the leading bank  in the consumer banking sector, treasury markets, asset management, securities, debt raising, asset fund arising, asset management, and many other financial services that are performed by most of the banks and financial institutions.

2. Job analysis

Job analysis includes the need and requirement of the duties for a particular job. It is a kind of process in which there are judgments take place on the basis of data and information gathered for the specific job (Datta, Guthrie, & Wright, 2005). The job analysis is divided into two major parts that is job specification and job description.

2.1 Job description

It is termed as a formal account that determines the responsibilities, tasks and duties of the employees working with Development bank of Singapore (DBS). The job description is further divided into three parts that is task, responsibilities and duties. Task is related to the assigned work that is in the written form provided to the employee according to whom they have to perform (Perry, Hondeghem, & Wise, 2010). It defines the process of work that is going to be used by the employees. The Duties of the employees defines the limits and restrictions under which they have to perform.  Role and Responsibility may related to the relation of the employees between each other that can be on various types of level like supervisory level, managerial requirements, other relations with the other colleagues.  There are goals and objectives that are also defined in the job description that employees have to achieve.

2.2 Job specification

The process of job specification is related to the statement that contains all the required skills, knowledge, talent, and eligibility that are required to perform a particular job or job position in Development bank of Singapore (DBS). Here the title mention is accountant so there are lots of requirements in the job specification. They are related to the skills, abilities talent, knowledge, for a specific job (Collins, & Clark, 2003). The job specification if prepared for the job analysis of the particular job as it defines as the holders of the job. It comprises of education level, quantification, job experience, age, skills, knowledge, factors for the work orientation, and many other skill set. In this, the discussions are on the Hr manager of Development bank of Singapore (DBS)

Title: Accountant

Knowledge:

• The communication of the accountant must be good  that is read, speak and write in English  and other languages that are relevant for the company as he or she has to maintain all the accounts  and explain them to other members
• He  should have experience of accountant field
• He should have possessed minimum level of qualifications in accountancy

Skills

• He must be a multi taker and  have deep knowledge of how to maintain records
• Good performer and disciplined
• The priorities must be work related
• He must be very efficient in the computers and specially in Microsoft word and excel and tally

Abilities

• Problems handing
• A good decision maker
• Good calculations qualities

Other characteristics

• He must be attentive
• The work must be accurate
• He should be good in management of accounts

3. Job design 

The job design is the major function performed by the human resource management of Development bank of Singapore (DBS) or any other company. The job design have direct and indirect link with the same as they develop content, relation, of the job and also about the job holders (Wright, Cropanzano, & Bonett, 2007). It also describe about the recruitment and selection process for the post of the human resource managers. It is done to cater the various types of needs like technological, organizational, and other needs job design help in meeting the personal needs and social requirement of the HR managers as well as the employees.

3.1 Design for efficiency

The efficiency of the accountant is related to the motivation as it plays vital role to let them realize their importance n the company. It is relevant to realize the employees that they play a vital role in the company. The process of efficiency is dependent on two major points that are financial rewards and non financial rewards. In Development bank of Singapore (DBS), the motivation of the employees is increased by a combination of both the rewards. This is the techniques used by the company to motivate their employees (Kaptein, & Schwartz, 2008). It done by the teams of the company who analyze the work perform by the employees and also to identify the ways by which they can bring improvement in the same. In order to bring improvement, they provide those trainings and motivational exercise. Development bank of Singapore (DBS) believes that the efficiency of the employees take place when there is liberty in decision making and sharing the views of them.

3.2 Motivation

Motivation refers to the process that provides satisfaction to the accountant and this activity is done by the human resource management. It is related to the delivery of motivational speeches, rewards, respect values, and other motivational elements (Perry, Engbers, & Jun, 2009). The motivation is also done by providing the employees rewards in financial and non financial terms. It helps in empowerment of the accountant’s morale and motivates them to perform better. It enhances the performance of the employees. They can provide trainings, health care programs, development programs, self care planning, work life balance, and other related trainings. Development bank of Singapore (DBS) provide motivation by entertaining  the views and ideas of the employees  in the process of decision making where employees can prove their skills, talent, knowledge, etc. they believe that if the employees are motivated then they will perform better with their 100 % caliber (Houston, 2006). The HR department is very conscious and dedicated towards the accountant and other workforce as they keep motivating them time to time.

3.3 Safety and health

The safety and health plays a vital role in the job that plays as a major tool for the motivation of the employees.

3.4 Mental capacity

The mental capacity of the employees is related to the ability of them to perform for a particular job design.

4. Recruitment 

Recruitment refers to sending invitation to the candidate so that they can appear for the process of recruitment to hire the employees. Recruitment plays a vital role as it changes the entre performance and productivity of the company (Latham, 2012). It is a crucial, strict and rigorous process taken care by the human resource department of DBS bank.

The motive of the company is to hire the candidates that are best suited for the preferred job position. They want candidates who are humble, friendly and cheerful. They want employees who have to caliber to convince the customers and serve them is the best way they can (Zhang, & Bartol, 2010). The company receives approx 10000 applications every year to join the company but the reality is they hire only 900 candidates out of the 10,000 applications. In this way, they successfully complete the process of recruitment.

4.1 Recruitment strategies 

Recruitment strategies are the strategy adopted by the company is very simple as they want employees who are cheerful and eligible to cope up with the environment of the company.  They conduct a well planned strategy to hire right accountant like the first step in recruitment planning and then the development of strategies so that they can identify the right candidate (Grant, 2007). It consists of geographical areas, skills set, etc. after strategic development, the next step is searching and screening of the applications. At last there is an evaluation and control for the same take place.

4.2 Its implementation

The implementation of above written strategies take place by making plans related to the process of implementation (Redman, 2016). They conduct recruitment drive, job advertisements and campus job fairs so that they can find eligible candidates.

5. Selection 

Selection The process of selection is very crucial at DBS bank as they believe in hiring right candidate so that they can take the whole responsibility (Ardichvili, Page, & Wentling, 2003). There are various types of process of selection take place.

5.1 Selection strategies

The company uses many types of selection strategies like knowledge, skills and abilities (KSA) at the initial point to understand the employees and his or her skills. They also outsource the process of selection to the candidates who are pioneer in this particular work.  The company believes in the process of head hunting in which they check the referrals, initiate interviews, and screen the large pool of candidates. They also believe in internal selection of the employees (Wright, 2001). The other strategy used by DBS bank is multistage section strategy in which various types of tools are involved in the process of selection. They use conductive strategy in which they eliminate the candidates who performed low that help the company to select the more suitable for the company.

5.2 The implementations and steps involved are

• Screening of the application an resumes
• Testing and reviewing of the work samples
• Interviewing the candidates or personal interview
• References check and back ground check
• Final selection

6. Conclusion

The purpose of this report is to better understand about the HR department of the company DBS bank and how they recruit accountant in their company. The human resource department faces many challenges in the management of personnel who are working with the company. In order to have better management, the company uses many strategies and policies so that they together achieve the goals and objectives the company and make it successful organization. The bank is an organization that deals in financial services and due to this they have to bring effective management in the entire organisation whether it is related to the employees or the customers.

References

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