Research On The Recruitment&Selection Process Optimization Of Company X

The success of an organization depends on the effectiveness of its employees.Without a high-quality labor force,an organization is destined to have mediocre performance.The recruitment and selection practices of an organization are one of the most critical functions of human resource management.Recruiting and selecting the best talent in the labor market involves a variety of human resource management activities.Recruitment and selection,as a human resource management function,is one of the activities that impact most critically on the performance of an organization in terms of achieving its ultimate goal(Costello,2006).According to Beer et al.(1984),recruitment and selection not only seek to attract,obtain,and retain the quantity and quality of human resources the organization needs to achieve the strategic goals,but may also have significant impacts upon the composition of the workforce,the ultimate fit of employees with the organization' needs and culture,and upon long-range employment stability.The effective use of recruitment and selection policies and practices may also improve the commitment and performance of employees and reduce their absenteeism and turnover rates.The main purpose of the study is to identify the existing recruitment and selection practices of Company X.This company is based in Shanghai and this study focuses on the recruitment and selection of two very important job positions Company X which is Business Development Managers and Financial Consultants.Due to the nature of the company's business,these two job positions are mostly occupied by foreign talents.By identifying the challenges encountered by the company and provide optimizing strategies and recommendations in improving their recruitment and selection process.This research paper also reviewed literature on recruitment and selection.Company X uses both external and internal recruitment sources.It will discuss the five theoretical frameworks: human capital theory,resource dependency theory,big five personality theory,impression management theory and Holland's career tendency theory.It uses the PEST analysis to assess the external factors that affects the recruitment and selection process of the company.Survey questions were used to ascertain respondents' views on current issues pertaining to employee recruitment and selection practices in Company X.The data obtained from the survey were then analyzed.The findings of the study revealed that there are five main recruitment and selection methods.The top three most frequently used medium of employee selection,in the order of highly recognized method includes online advertisement,employee referral and campus recruitment.It is also obtained that most of the employees has only been working in Company X for less than a year – suggesting that there is a high turnover rate in the company.Five key issues and problems were identified which are time constraints,the complexity of the recruitment and selection process,the inefficiency of the recruiting process,finding people who wants to relocate and attracting the right candidate.It was also revealed that environmental factors such as legal,political,and socio-cultural factors normally influence the selection process.Although it is important for the organization to develop a recruitment and selection program which is tailored to their own individual needs it is also essential that they adopt an effective evaluation method in order to ensure the procedures they are practicing are as efficient and effective as possible in meeting these needs.In the literature review the importance of evaluation was highlighted as it is necessary for the organization to understand if they are actually gaining from the procedures they have in place.However,through the surveys returned and the interviews carried out it was established that at present the organization has no procedures in place to assess the effectiveness of the recruitment and selection methods practiced.It is strongly recommended that,in the near future,the organization introduce measures to such as the one proposed in the literature review,to assess the effectiveness of their recruitment and selection process.This will not only aid the organization in meeting their staffing needs but will also facilitate the district operation managers in establishing a sense of the right and wrong approaches to take.