StrategicHumanResourcesManagement_Assessment1

Expansion Recruiting Strategy – “The Bank”

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“The Bank”

Recruitment Strategy for Expansion Report

“The Bank”

2020, April 19

Patrick Gutzmer

MBA-FPX5310

Strategic Human Resource Management

Dr. John DiBenedetto

April 19, 2020

John Q. Doe, Student

Overview:

The report contained within will provide information and data analysis to assist in the development, recognition of hurdles, and give recommendations for the planned expansion of “The Bank” as related to the area of staffing. These staffing recommendations will assist in choosing the best location to allow for the most qualified and diverse staffing possible to help strength the mission, values, goals, and culture of “The Bank”.

Strategic Recruiting Strategy:

“The Bank’s” strategic recruiting strategy will use these five areas of focus to establish goals and allow us to target the employees we desire to work at “The Bank”.

These focuses are:

1) Goals of “The Bank” and how to reach them

2) How and where to find these employees

3) Evaluation of our strategy to gage success

4) Loyalty of employees hired

5) Budget

With the use of these guidelines we are set up to find the best talent to help with the expansion of “The Bank”.

Statistical Description of Locations:

We are going to study and present data on the three locations that are being considered for the new branch location for “The Bank”. We will not list the location names only as A, B, and C. This will help eliminate some of positives and negatives associated with the locations. The topics we are going to include are distance from main branch, population statistics, educational facilities, and local competition.

Site A:

A small city with a population of 23,000 located 35 miles from the main branch. There is a large manufacturing corporation that employees 35% of the town's population. There is one local high school and a local technical school. The three largest areas of study at the technical school are machine operations, forklift operations, and data entry (business). There is not local community bank in the community, the closest is 20 miles away and there are 3 large bank branches within the community. As a note we are known in the community for our sponsorship of the local high school football field.

Graphical Representation:

Site B:

A city with a population of 78,000 located 20 miles from the main branch. There are numerous small manufacturing plants, two large medical centers, and a medium sized mall (20 stores). There is three local high schools, a community college branch, and a medium sized university. The three largest areas of study at the community college and university are medical, business, and education. There are four local community banks, eight large bank branches, and one credit union within the community. We do not have any current ties to the community.

Graphical Representation:

Site C:

A city with a population of 20,000 located 12 miles from the main branch. There are no major industries in the town, this is a commuter city. There is one local high school and no other educational facilities in town. There are two community banks, one large bank branch, and one credit union within the community. We do not have any current business ties to the community, but both our Bank President and Chief Human Resource Officer call it home.

Graphical Representation:

Comparisons of Locations:

To compare the locations from a strictly human resource positions we are going to take the acquired data and break down the reasoning for each section that we are reviewing and the importance of the figures.

Location from Main Branch. All three location are within 35 miles of the primary branch. So, there is not a statistical advantage. The reasoning for the importance of this figure is that all training, interviewing and hiring are located at the main branch. If there was a significant distance between the locations, we must figure in travel expenses for training.

Population. The population for the three sites varies with the largest 78,000 Site B to 20,000 for Site C. The population favors Site B as it is the largest city; this allows a better possibility of having more applicants which leads to a better chance to drive towards a more diverse and experienced team. With Site B being the largest town, it also comes with three high schools, a community college branch, and a medium sized university. The educational facilities will allow the bank to promote ourselves and be involved in the departments that are driven towards banking (such as: business, finance, and mathematics). The size of the town and the educational facilities will allow “The Bank” to become more involved in a larger community and provide an opportunity for more growth in the future.

Diversity. The diversity of the three sites are common among the area and there is no significant difference. The area is well diverse, and all individuals have a unique and different background. Since, “The Bank” represents all individuals within its territory there is no significant advantage or disadvantage when it comes to race to fill opening positions. Race was included in the study to ensure there was not a large statistical difference. In our opinion race is evenly split within the communities.

Education Level. Like diversity there is no advantage or disadvantage for any of the sites as compared to the other. There is a wide range of educational levels in each town and with the diverse type of job opening that are going to occur all sites will have the required talent to fill the positions available.

Competition. Comparing the competition that is near each site has a couple different aspects to consider. The first is what kind of talent is available and have the same or similar skill set to what we are training for. The second is how likely is the competition going to “steal” our trained individuals. Both are major influencers in staffing decision as it will help determine the amount and type of training that is going to be required, but also must make us build brand loyalty. Brand loyalty is that we must promote from within, listen and build our employees up, and proved opportunities to enrich and give our employees a sense of pride.

Site A wins this comparison because there are only large banks to compete with and these are considered secondary competition. The employees with the large banks get corporate bank training and if they move over to “The Bank” they can see the difference in set up and dedication that is offered at a community bank. Also, word of mouth is the best way to recruit and develop the best talent.

Community Involvement. Community involvement is a big part of the community banking appearance. “The Bank” prides itself on being involved in the communities we represent, especially ones with our branch locations. “The Bank” does have small community investments within the new site considerations and can build on those. Our employees must feel they have a tie to the community and feel a sense of pride and belonging when at work and at home. We must continue this involvement and find individuals that will be involved and be a representative of “The Bank” at all times.

Recruitment of Minorities:

The diversity of our company is a priority in the development, strengthening, and building a relationship with the community. Our goal is to have our staff be a representative of the communities that we serve. If we do not understand where they are coming from and what they are going through, how are we to be a bank of the community.

“It's been proven that when a team includes people of different genders, ethnicities, cultural backgrounds, sexual orientations, etc., it produces more creative, innovative and effective results. That's because diverse groups offer a wider range of experiences, and don't simply parrot back the same old ideas produced by people of similar backgrounds.” (Forbes Coaches Council, 2017, August 29).

In order to reach our goals and diversify our staff we will use numerous tools and strategies to help focus on obtaining a mix of individuals that will allow for the best possible group staffing.

Recruitment tools to assist in the search for a diverse candidate pool.

1) Make the diversity search intentional

2) Use current employee recommendations

3) Partner with local schools and training institutes

4) Expand the search beyond usual means.

In order to continue our mission as the top community bank we must continue to adjust to the ever-changing market that we are located in. With the expansion of the “The Bank” we must recruit to match the new environment.

Laws/Legal to Consider:

When preparing to hire for new staff to fill a current role, a future role, or staffing a new location; each step in the hiring process must meet all legal standards to avoid landing in a legal battle.

Job Posting:

Each posting of a position be it on a job board, company website, newspaper, or any other entity must follow the guide as set by the EEOC (Equal Employment Opportunity Commission). Basically, stating a position shouldn’t give preference based on age, disability, race, religion, sex, color, sexual orientation, or political affiliation.

Pre-Employment Screening:

The required test must not set restrictive standards that are not job related, invade privacy standards, or discriminate directly or indirectly against any minority group.

Verification of Citizenship:

“Employee” must provide verification of proof to work within the United States.

Interviewing:

Be direct when interviewing and frame questions to avoid being perceived as discriminatory toward any group. Job description are to be worded to allow equal opportunity for all applicants. Avoid personal questions. In the cases of applicants with disabilities or religious requirements EEOC states reason accommodation must be made.

All individuals involved in the interview process in any capacity must be aware of the rules and expectations in this process.

Most importantly: “When in doubt consult with our attorney”.

Recommendation:

After reviewing the information and measurements it is the recommendation of the Human Resource Department as pertaining to staffing that Site A be the choice for the new branch location. The reasoning for this recommendation is listed below.

Site A overall has the least amount of direct competition. The employees of the larger banks will receive the corporate training and will come in with a good set of skills if they decide to transfer over, and then we can rely on word of mouth bring over more talent. This location is also the furthest from the main branch and will provide a new set of employees to represent “The Bank” in their town. Being the furthest away will also provide us with an oppurtunity to get a more diverse and local talent to build the relationship. Another strong consideration was the local technical school who is developing data entry students and data entry is a big part of the banking world and with the students learning on newer technology it will give us a leg up on the competition. There will be numerous opportunities to collaborate with the large manufacturing center in town as they are a majority sponsor of “town events” this will help give us a working relationship and take some of the financial burden off them about sponsorship. The final piece is that we can start building a great team and use that team to build out further if that is the desire of “The Bank”.

References:

Dol.gov (2020)

Gordon-Smith, M. (2015, June 16). The 7 elements of an efficient recruitment strategy. Retrieved from: https://www.linkedin.com/pulse/7-elements-effective-recruitment-strategy-g-michael-gordon-smith/

Florentine, S. (2019, February 14). Diversity and inclusion: 8 best practices for changing your culture. Retrieved from: https://www.cio.com/article/3262704/diversity-and-inclusion-8-best-practices-for-changing-your-culture.html

Forbes Coaches Counsel (2017, August 29). Want Diversity? 15 recruiting tactics to attract a wider range of candidates. Forbes Magazine. Retrieved from: https://www.forbes.com/sites/forbescoachescouncil/2017/08/29/want-diversity-15-recruiting-tactics-to-attract-a-wider-range-of-candidates/#2f77cded2144

Kellman, D. (2014, May 9). Avoid these 6 recruiting-related legal issues. Retrieved from: https://www.hrexchangenetwork.com/employment-law/articles/avoid-these-6-recruiting-related-legal-issues

Luenendonk, M. (2016, December 4). 8 proven recruitment strategies. Retrieved from: https://www.cleverism.com/8-proven-recruitment-strategies/

Reddy, K. (n.d.). 19 best practices in recruitment and selection process. Retrieved from: https://content.wisestep.com/best-practices-in-recruitment-and-selection-process/

Saez, A. (n.d.). Importance of effective recruitment and selection. Retrieved from: https://yourbusiness.azcentral.com/outline-purpose-recruitment-5848.html

Saez, A. (n.d.). Outline the purpose of recruitment. Retrieved from: https://yourbusiness.azcentral.com/outline-purpose-recruitment-5848.html

Population: 23,000 White Hispanic Black Asian More than 1 Race Did not Disclose 6900 5750 9200 230 460 460

Education Level HS CC/Tech Coll/Uni Not Disclosed 10350 8050 3450 1150

Competition 3 Comm Bank Large Bank 0 3

Population: 78,000 White Hispanic Black Asian More than 1 Race Did not Disclose 19500 23400 31200 3120 0 780

Education Level HS CC/Tech Coll/Uni Not Disclosed 7800 23400 46800 0

Competition: 13 Comm Bank Large Bank Credit Unions 4 8 1

Population: 20,000 White Hispanic Black Asian More than 1 Race Did not Disclose 5000 5000 5000 3000 1000 1000

Education Level HS CC/Tech Coll/Uni Not Disclosed 1500 3000 15000 500

Competition: 4 Comm Bank Large Bank Credit Unions 2 1 1

From Main Branch

Site A Distance 35 Site B Distance 20 Site C Distance 12

Population

Site A Population 23000 Site B Population 78000 Site C Population 20000

Total Competition

Site A Competition 3 Site B Competition 13 Site C Competition 4

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