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Transcript of HR Process
Deutsche Bank is looking for a economical researcher for its South-American department. The candidate should maintain the relationships with the departments in the multiple countries.
Phase 2: Recruiting Job Candidates
After the Human Resources department decided that a new economic researcher is needed, the Human Resource Management process can be started. The first step of the process is recruitment. In this step a job vacancy should be announced with the job description provided in order to build a pool of candidates. Every company wants to use skills and talents of new employees in the most efficient and effective way, this is why it is essential for Talent Management to develop a good job description. A thorough job analysis needs to be performed to help determine knowledge, experience, responsibilities, duties and authority of current employees. The analysis will provide the information that is required for writing a job description.
Phase 3: Selecting Job Candidates
In conclusion, we would like to give comments on how the assignments went. First of all it was very nice that it was not a typical assignment. We could use our creativity and also give our own interpretation to some matters, like the applicant.
We believe this assignment was very useful to gain understanding of the Human Resource Process. Because we had to apply the theory from the lectures and the book, in order to go through the whole process and finish this assignment.
Overall the assignment went really smooth, everyone knew what they needed to do and everything was done on time.
Phase 4: Training and Developing
Phase 5: Performance Management
Phase 6: Compensation
Phase 7: Employee Relations
Name: Alberto Uria
Date of birth: 03-10-1968
Place of birth: Bogota
Marital status: Married
Christian-Albrechts-Universitat zu Kiel: ASP Macroeconomic Research, Economics
Kiel Institut Für Weltwirtschaft: ASP International Economics Policy Research, Economics
Head of Research and Partner - Vicker Capital Markets (2008 - present)
MD Emerging Markets Researc - Bear Stearns (2005-2008)
Head of EM Research - IDEAglobal (2002-2005)
The involved country in which our company is located is the Federal Republic of Germany. This country in central Europe is considered one of the most affluent and important nations in the world. With 80.3 million inhabitants it is the most populous country in Europe. Germans are considered very hard working people, who put a lot of effort in their daily job; not surprisingly, even though the world is going through an economic crisis, Germany still have a positive economic growth. Germany’s economic strength goes even as far as it being the 3rd strongest economy in the world, after Japan and the United States.
At the moment, Germany is the most suitable country in Europe to follow a financial career. Our company, the Deutsche Bank, has proven to be a stable bank and is not expected to suffer a major crisis in the next years.
Something that is also important for our applicant is transport. Germany has a very extensive train network, led by the Deutsch Bahn company . Tickets are relatively cheap and can be accessed 365 days of the year. Moreover, the place our client is expected to live, Frankfurt, has a well-functioning subway network, which is conceived to one of the best in the country. This is practical for the applicant to get to work, but also to be close to his disabled child.
Furthermore, Germany has a special policy for parents with a disabled child. The percentage of income that is free of taxes is higher so parents can take care of their children. Additionally, we researched the availability of au pairs in the Frankfurt area; the offer is very broad, and affordable, which helps when our applicant cannot be home.
Deutsche Bank is a global banking and financial service provider with its headquarters being located in the twin towers in Frankfurt am Main, Germany.
It was founded in Berlin in 1870 as a specialist bank for foreign trade.
With having its major financial offices in London, New York City, Singapore,
Sydney, and being present in 66 other countries, the Deutsche Bank is now an
employee to more than 100,000 people with a large present in the European, American, Asia-Pacific and the emerging markets.
It currently offers services including sales, trading, research and origination of debt
and equity, mergers and acquisitions, risk management products, like derivatives,
corporate finance, wealth management, retail banking, fund management and
The operating income of 2012 was €784 million, with a revenue of €33.7 million,
a profit of €237 million, total assets of €2.2012 trillion and a total equity of €54.00
billion. Deutsche Bank is currently traded on both the German (FWB) and New York stock exchange (NYSE) and in 2009 was the largest foreign exchange dealer with a total market share of 21%.
The candidate should be able to compile, analyze and report the data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
Furthermore supervising the research projects is also an important task.
The candidate should have knowledge about economics and accounting principles and practices, the financial markets of South-America, banking and the analysis and reporting of financial data.
Furthermore advanced knowledge of mathematics, the English, Spanish and German language and about computers and electronics.
The skills required for this job are:
giving full attention to what others are saying
taking time to understand the points being made
asking appropriate questions
not interrupting at inappropriate times
communicating effectively in writing
Talking to others to convey information effectively
Using mathematics to solve problems
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems
Complex problem solving
Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
Judgement and Decision making
Considering the relative costs and benefits of potential actions to choose the most appropriate one
For this job it its essential to have a good written comprehension and expression, as the ability to read and understand written information and ideas and being able to communicate written ideas to others is of great importance. Additionally, deductive and inductive reasoning, the ability of applying general rules to problems in order to find reasonable answers and the ability to find a relationship between seemingly unrelated occasions, is crucial. Furthermore, oral comprehension and expression, which means being able to listen and to understand ideas presented by others and the ability of being able to communicate information to others in a understandable way. Besides these general communication tools, mathematical reasoning also is of great importance, as the new employee needs to be able to choose the right mathematical methods and formulas to solve a problem.
For the job as a economic researcher at Deutsche Bank analyzing data and information in order to get information and interacting with computer to process information is everyday business. Especially identifying underlying principles by breaking down information into separate parts, combined with observing and receiving information from relevant sources is a big part of this job.
In order to be a successful economic researcher analytical thinking and paying attention to details is crucial. This job requires analyzing information and using logic to address problems as well as being careful about details in completing tasks. Being driven to establish personal challenges and work hard towards mastering tasks is as important as being honest, ethical, independent and having a high stress tolerance.
Working values provided for this job are job security and excellent working conditions. It is necessary for the candidate to be independent, being able to work on his/her own and make distinct decisions. The ability to work result orientated and offer potential for leadership are essential.
Next part of this step is to make the announcement about the vacancy. There are various channels that can be used to distribute the job advertisement, so we have to carefully evaluate all of them and choose the ones that best fit our candidate profile. The position requires high qualifications and extensive experience, therefore college recruiting and walk-ins cannot be used effectively. Deutsche Bank is looking for candidate who would stay for long-term, which eliminates any channels that provide temporary workers. This leaves us with main distribution channels:
Professional employment agencies
In order to successfully choose our employees at Deutsche Bank we have a created a five-step process:
1. After reading through the received applications, and putting all required information into our data system, suitable candidates are invited for a telephone interview.
2. Two days after the application deadline, our Human Resource department sends out dates for the telephone interviews. This interview is designed to find out more about the employee and if his beliefs are matching the job profile.
3. After successfully passing this step, the candidate is invited for a personal interview at our headquarters in Frankfurt am Main, Germany. A potential supervisor will conduct this interview.
4. Another step of the selecting process is a medical examination by our company’s physician to ensure the physical fitness of the potential employee.
5. The last step is a reference check, which we conduct with all our employees to prevent any fraud in the information given to us before.
As a method for conducting appraisal Deutsche Bank uses Behaviorally Anchored Rating Scales(BARS) method. This method helps managers to understand what employees are doing right and what they are doing wrong through examples of their behavior. The performance levels that are awarded help supervisors to make decisions about corrections if such are required.
New employees have discussion sessions scheduled every second week to ensure that they have an understanding of company values and expected quality of their output at an early stage of their development within the firm.
This matrix illustrates the resource allocation method used in Deutsche Bank
The main reason for most employees to go to work is the compensation. Employee compensation are all forms of payment or rewards going to the employees because they have worked. There are direct financial payments, such as salaries, incentives and bonuses and there are indirect payments in the form of benefits.
At Deutsche Bank, we want to keep our personnel as motivated as possible and in the best shape so they can do their jobs at their best. Therefore we use the skill-based pay method. This means our employees are paid for the skills and knowledge they possess. Hereby we challenge our employees to learn more skills and gain more knowledge. To insure everyone of an respectable income, there is also a basic pay rate.
In order to make our new employees fit in the new company, Deutsche Bank offers an extensive orientation program. We feel that it is important that new employees learn the basic information, personnel policies, the employees’ daily routine, the company operations and safety measures and regulations. In the new employees’ first weeks he or she will be taught this through blended learning and behavioral modeling; this way, the new employee will not only learn about the company culture, but also need more people, which enhances the social cohesiveness. This is what is called the socialization process, and this has a certain time limit, namely one months. After this one month we will evaluate with the employee how he feels about his new job and how familiar he is with the company culture. If it is noticed that there are problems and extra (social) training will be given in order to make our employee feel more at home, and therefore more efficient.
However, the training and learning process does not stop there. Since our new employees will be working in an environment that is constantly changing, we need our employees to constantly adapt to this. We at Deutsche Bank analyze our environment constantly; with the knowledge that we gain from this we form training programs. We offer standard training processes and special managerial processes. These trainings are mainly focused on learning new skills for better organizational performance. In order to keep these training challenging and enjoyable, we offer a wide range of training types such as:
Games and Simulations
Niké Bakker, 12090263
Andrea Beck, 12090522
Jelle Kleyheeg, 12088676
Arianna Murzina, 12032735
Alberto is the father of a disabled child, Recardo. Therefore he has some requirements before he agrees to work for Deutsche Bank. He wants to live very close to his work (0-10% travel requirement) and in an area where top-notch care is available.
At the moment Alberto has already worked ten months for us. Alberto has brought the company everything that was expected of him and even more. However he has been feeling homesick and this feeling is increasing. He even is hinting at leaving Deutsche Bank to get a better job in Colombia.
Because Alberto is very precious to Deutsche Bank, we will try everything in our power to keep Mr. Uria at our company. This is why we offer him to travel back to his home country for two months and enjoy time with his family there. If this feeling should stay after his vacation, Deutsche Bank agrees to move his workplace to the office in Columbia. So we can still use Alberto's services for the South-American department. However, top-notch care for his son from German professionals is not granted there.
In order to make Alberto Uria agree to work at Deutsche Bank we offer him a job at our headquarters in Frankfurt am Main. In this metropolis top-notch care for his son is granted. At Deutsche Bank we will help Alberto to find accommodation near the office. Furthermore, we assure him that he will not have to travel more than two times a year.
In order to find the perfect applicant for the job of economic researcher, we used LinkedIn, Hays(international recruiting agency with offices all over the world, including both United States and Germany) and several websites such as my.jobs.
After finishing all these steps, we choose to hire Alberto Uria, as he fitted the jobs requirements best. His personal values, as well as his job experience and personal background is the perfect fit for the job as a researcher specialized on South America at Deutsche Bank. Since Mr. Uria is very driven, motivated, engaged and has a great knowledge about the South American culture, Deutsche Bank is happy to have him as a new employee.
Additionally, we also look at the longer term; where the training programs are focusses on acquiring a particular skill, the Deutsche Bank Learning and Development Program (DBLD) goes further than this. We think that it is important that our employees know what they are doing, and how well they are doing. With constant and constructive feedback, we try to improve our employees’ long term performance. Moreover, every department of the Deutsche Bank has its own supervisor who monitors and helps with the employees’ performance.
Next to the salary the employees receive, we also offer several benefits to extra motivate our personnel. These benefits include:
34 annual vacation days
Unemployment insurance: 60% of salary for 6 months after job loss
For the sake of the company and the personal interest of the employees themselves, it is important that employee relations are kept well maintained. A positive working environment is a crucial factor in work satisfaction and, certainly not in the last place, work efficiency. Therefore, we at Deutsch Bank not only check and give feedback on group performances, but we also check how the team work went. We want to know from our employees how they experienced group norms and roles, and how this influenced the social cohesiveness in the group. Team work is an important component of our company and therefore we attach great value to it.
Moreover, we want to know from our employees how conform they felt with the team work. Too much conformity means bans out original and creative thinking; it makes teams too formal too each other and will disadvantageous for the group performance. On the other hand, we know from experience that little conformity is not good either. Too little conformity creates a team relation that is too informal, and therefore decreases efficiency.
So, in order to let our employees collaborate well with each other we encounter our projects rather as “team projects” instead of “group project. Reason being it forces employees to work more as a team, rather than a group of individuals; additionally, this means that employees are responsible for performance as a team, not individually. When working in teams it is easier to determine roles, which enhances team efficiency.
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Völker, Lilian. "Training and Development Employees." The Hague University, The Hague. 18 Sept. 2013. Lecture
Willemse, Manja. "Recruiting and Talent Management." An Introduction to Human Resource Management. 2nd ed. N.p.: Harlow: Pearson, n.d. 23-48. Print.
Willemse, Manja. "Selecting Employees." An Introduction to Human Resource Management. 2nd ed. N.p.: Harlow: Pearson, n.d. 65-90. Print.
Willemse, Manja. "Training and Developing Employees." An Introduction to Human Resource Management. 2nd ed. N.p.: Harlow: Pearson, n.d. 100-122. Print.
Willemse, Manja. "Performance and Talent Management." An Introduction to Human Resource Management. 2nd ed. N.p.: Harlow: Pearson, n.d. 131-151. Print.
Willemse, Manja. "Compensating Employees." An Introduction to Human Resource Management. 2nd ed. N.p.: Harlow: Pearson, n.d. 158-183. Print.