Purpose and Policy of HR
The purpose of Human Resources is to establish framework and set standard that can help the employees to guide and conduct the employees in the right manner.
This is inclusive of the way job is done, decisions are made, interaction is carried out with another person and business is managed.
It is mission of human resources to help in providing effective human resource management and implement policies to attain corporate goals and balance the need of employee and company.
The hiring manager should submit the requisition that is complete to the HR department. The HR department in turn will assign a particular resignation number in order to help in the process of tracking and reporting.
All the employees should be given timely induction training. This training is vital for the recruitment of staff and can help the new employees to integrate harmoniously into the work environment.
The purpose of probationary period is to provide the managers with time so that they can assess the performance of the new employee and suitability in relation to the role assigned for them.
Social media like Linked In, Naukri and monster can be made use of in order to search for right candidate for job. Social networks can also be made use of in order to bag the suitable candidate and people can suggest suitable job profile positions to their friends and in this manner a network can be created. In addition to this, bulk messages can be sent over mobile phone to aid the recruitment process (Galea, 2014).
Financial Planning Association along with National Association of Personal Financial Advisor can be taken recourse to in order to select the right financial planner. One should hire a financial planner who has won the credentials of Certified Financial Planner or the Personal Financial Specialist. The planner should have passed an exam that tests the knowledge of candidate in terms of insurance, investment planning and tax planning. Chartered Financial Analyst are the analysts who can gauge the investment needs and is a master in the area of financial accounting and equity analysis.
An experienced financial planner to recommend investment products along with services which is suitable for different prospects and the clients based on objectives, time horizon and risk profile. He should be proficient at executing and negotiating follow up of different implementation vehicles inclusive of insurance, tax planning and estate planning. He should be able to solicit the clients with the help of telephone and mail (Swider, Zimmerman & Barrick, 2015).
We have an immediate opening in the position of Financial Planner in our financial planning firm called “Happy Finance”. You should have a bachelor’s degree and should have your Certified Planner Certificate (CFP) or Chartered Financial Analyst (CFA). Salary will not be a barrier for a deserving candidate. Should be proficient at independently analyzing and reviewing the financial documents. Be able to establish close working relationship with the lawyer and tax advisor.
The Equality Act came into existence on 1st October 2010 and its main motto is to ensure that discrimination does not exist while selecting the candidates. The primary aim of this statute is to ensure that discrimination law is harmonised and equality should be promoted with the help of law. It covers all the groups that were previously protected by the prevailing equality legislation and they are termed as “protected characteristics” (Smith, 2013). The protected characteristics stand for race, religion, sex and disability. According to the Human Rights Act, discrimination on wages should not exist between that of the employees. Difference in wages should be on the basis of skill and responsibility. Experience and seniority system should determine the differentiation in salary. The questions should be asked during interview in such a way that the applicants should get a fair chance in respect to the job needs (Wilton, 2016).
The advertisement should highlight the fact that the salary structure will be based on the skill set, experience and merit and not take into account race or skin colour to determine the salary. A sentence can be added: “Salary will be based on the merit, skill set and experience” in the position description of financial planner in order to emphasize the legal requirements.
Dear Bill Money,
I am pleased to inform you that Happy Finance would like to offer you the position of Financial Planner.
This letter is to confirm regarding our offer of employment and kindly go through the terms and conditions in order to prevent any confusion later on.
Salary- Your salary for taking up this position will be $ 450,000 per year that will be credited to your bank account on monthly basis around the 15th of every month.
Conditions- Employment is conditional on the basis of:
The candidate should be medically fit so that he can carry out the job role perfectly and attend medical examination whenever requested
Accept the process of documentation completely as has been requested in this letter
Not causing any breach in respect to any court order or other legal obligation while entering employment with us.
Terms- Your service may be terminated by providing you no lesser than 6 months in the form of writing.
The Financial Planner can be provided training on Moody’s Analytics that can prove to be helpful in setting the standard of financial service education. Competence and credibility can be increased with the help of this. Certified Financial Planning Course can be undertaken by the financial planner with the help of the company that covers aspects like asset and risk management and cash flow analysis (Taylor, 2014).
Probationary Performance Appraisals can help in providing feedback that can notify the employees regarding whether they have been able to meet their expectations. The review process should start with job description and it will be the yardstick against which the performance of the employee should be measured. The supervisor and employee should have communication process that is two-way in order to understand the performance level of the employee. The supervisor can highlight on corrective action that can help the employee in attaining the level of performance required for fulfilling the job role perfectly.
References:
Galea, A. G. (2014). Calibrating human resources recruitment and selection procedures to talent gaps within 5 star hotels in Malta(Bachelor’s thesis, University of Malta).
Smith, R. (2013). Human Resources Administration: A school based perspective. Routledge.
Swider, B. W., Zimmerman, R. D., & Barrick, M. R. (2015). Searching for the right fit: Development of applicant person-organization fit perceptions during the recruitment process. Journal of Applied Psychology, 100(3), 880.
Taylor, S. (2014). Resourcing and talent management. Kogan Page Publishers.
Wilton, N. (2016). An introduction to human resource management. Sage.
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