HR Management: Planning and Recruitment - Assignment Example

Table of Contents Table of Contents 1 Overview of the report 1 Background 2 ADNOC HR Strategy 2 HR Recruitment & Selection Goals and Objectives 3 HR Recruitment and Selection Plan 3 Job Specification 4 Job Advertisement sample 6 Initial Screening of Job Applicants 9 Short Listing the Applicants 10 Choosing top candidates 10 Job offer sheet 11 Recruitment and Selection Timeline 13 Conclusion 13 References: 14 Overview of the report This report is about ADNOC Company’s proposed recruitment and selection plan for the company’s chief financial officer. The report covers such areas as the company’s human resource strategy, the company’s Human resources recruitment goals and objectives. The report also gives the job description and job specification for the post advertised. In addition the report details out the entire process of the proposed recruitment and selection plan for the company including how the applicants will be screened, the tests and the interviews they will undertake up to the point where the successful candidate will accept the job and the conditions stipulated in the employment contract. Background ADNOC or the Arab National Oil company is a state owned oil company of the United Arab Emirates and is among the world’s largest oil companies. It operates two oil refineries and has fourteen subsidiary companies across the world. Being such a big company, it has adopted a human resources strategy aimed at ensuring it remains a leading oil company not only in the UAE but also globally. Its human resources strategy aims at ensuring that best talent is recruited, selected and retained in the company while adhering to all laid down government regulations on Human Resources as well as other relevant laws. In its recruitment and selection strategy, the company ensures equality while ensuring there is no discrimination of any form (Abu Dhabi National Oil Company, 2013). However, it should also be noted that the company’s recruitment and selection strategy also aims at ensuring adherence to the government policy on Emiritization. As such, its current policy is aimed at ensuring that 75% of its labor force is of UAE nationality. This paper details out a proposed recruitment and selection plan for the company’s Chief finance officer. This being a management post that requires a lot of experience; it is assumed that the post will be opened for everyone including expatriates. ADNOC HR Strategy ADNOC’s HR Strategy aims at having a stable, involved, well motivated, highly skilled and high performing workforce who are provided with safe, non discriminatory environment and whose efforts are properly recognized and rewarded. The strategy has the following components; a) Recruitment and selection – we aim at recruiting and retaining high quality workforce to meet ADNOC’s current and future needs. We will employ strategies that promote equal opportunities while enhancing our public image as an employer. b) Employee development –we aim at having highly skilled workforce that is continually learning and able to respond to changing working practices. c) Employee relations –ADNOC maintains excellent conflict free employer-employee relations that allow ADNOC’s objectives to be met. d) Employee benefits – ADNOC ensures that employees are adequately rewarded with attractive benefits in a bid to recruit and retain motivated employees capable of achieving our organizational goals and objectives. e) Welfare, Safety and health – ADNOC promotes high levels of safety, health and welfare in a bid to enabling employees perform productively. f) Equal opportunities- ADNOC will stimulate and advance equal opportunities in employing by avoiding all forms of discrimination while adhering to government policy on employment e.g. Emiritization. g) Staff performance and motivation –ADNOC aims at having high performing motivated employees so as to meet organizational goals and objectives. HR Recruitment & Selection Goals and Objectives Through recruitment and selection, the HR function will ensure provision of best manpower services in a bid to balancing organizational needs and fulfilling ADNOC’s overall vision. As such, the function has the following goals, -Recruiting and selecting of high caliber employees who meet organizational needs with an aim of achieving our objectives. - Ensuring employee benefits and remunerations are in line with industry norms (Janet, 2012) - Reduction of average duration taken to fill vacant positions by 25 percent - Reduction of recruitment and selection costs by 10 percent. HR Recruitment and Selection Plan ADNOC wishes to recruit and select a suitable candidate for the post of chief finance officer which falls vacant in the next two months when the current chief finance officer retires. The following is the proposed ADNOC recruitment and selection plan for the post. Job Description Reporting directly to ADNOC president, the Chief finance officer will be in charge of all strategic and tactical matters that relate to company finances. As such, the chief finance officer will have the following responsibilities; a) Defining standards, procedures, policies and organizational enhancements aimed at meeting ADNOC’s goals for finance. b) Preparing of financial forecasts in collaboration with senior management c) Planning and preparation of the company’s annual budget d) Regular monitoring and taking timely action in conjunction with management to ensure the company stays within budget e) Ensuring compliance with the relevant accounting standards in financial matters f) Management of cash balances and ensuring excess funds are invested in accordance to organizational objectives g) Preparing of monthly financial reports and analysis in accordance with relevant accounting standards h) Preparing for ADNOC’s future financial needs and stability through preparation and recommendation of loan applications for projects approved by the board including periodic review of debt portfolios for suitable rates. i) Assisting in preparation of business plans and financial forecasts for ventures associated with ADNOC j) Coordinating preparation for audits and filling of tax returns while ensuring proper maintaining of accounting records and documents in line with legal requirements and company policies. k) Monitoring ADNOC accounting systems for errors l) Managing a team of senior employees responsible for coordination and execution of the functions performed in Finance, HR and administrative groups. Job Specification The ideal candidate shall possess the following qualities which will help him/her perform the CFO duties effectively; Financial Accounting Skills –The candidate shall have knowledge on the various accounting standards. In addition, the candidate shall have adequate skills in budgeting and forecasting. Analytical skills – the candidate shall have adequate analytical skills for synthesizing complex financial information (Jonathan, 2007). Project management skills –the candidate should be able to develop project plans, coordinate projects while ensuring projects are completed within budgets People management skills – the candidate shall have people management skills for managing those working under him/her Cost conscious –The candidate should be able to ensure adherence to budgets while developing and implementing cost cutting measures for the company Judgment – The candidate will have sound decision making skills Organizing skills – The candidate shall have skills to prioritize and plan work activities while developing realistic action plans Quality management – The candidate shall be capable of looking for strategies to improve and promote quality within ADNOC Strategic thinking –The candidate shall have the ability to develop strategies for achieving organizational goals and undertaking SWOT analysis for the organization. Qualifications a) Education -The ideal candidate shall have a bachelor’s degree in accounting or finance related discipline from a recognized university -Those with MBA qualifications will have an added advantage b) Work Experience - The candidate shall have at least 7 years experience in a similar position three of which were preferably spent in a similar organization -Experience as a financial controller is preferable c) Communication skills -ability to communicate quickly and easily -possesses adequate written communication skills -Possesses ability to present information clearly and informatively d) Computer skills and proficiency in all programs necessary for running the office are of paramount importance Job Advertisement sample NB// Below is a sample job advertisement for the above post. The advert will be put in major local dailies for two weeks starting December 1st- 12th 2013. In addition, the advert will be placed in the company’s advert for the entire duration. Abu Dhabi Company for Onshore Oil Operations P.O BOX 270, Abu Dhabi United Arabs Emirates Tel: +9712-6040000 Job Title: Chief Finance Officer Department: Finance and Corporate Administration Reporting to: Group CEO Remuneration: The successful candidate shall receive a very competitive remuneration package in line with the company policy, the industry norms and his/her current remuneration package. Job Summary The company’s CFO is responsible for overseeing the company’s finance, forecasting, budgeting, accounting, tax and treasury at ADNOC. The CFO also oversees the company’s financial activities while advising and assisting the group CEO to meet the company’s overall financial and strategic objectives. The CFO provides strategic leadership in collaboration with management team in establishing long range goals, plans, policies and strategies while providing leadership and management for the company’s finance function. Essential duties and responsibilities a) Defining standards, procedures, policies and organizational enhancements aimed at meeting ADNOC’s goals for finance. b) Preparing of financial forecasts in collaboration with senior management b) Planning and preparation of the company’s annual budget c) Regular monitoring and taking timely action in conjunction with management to ensure the company stays within budget d) Ensuring compliance with the relevant accounting standards in financial matters e) Management of cash balances and ensuring excess funds are invested in accordance to organizational objectives f) Preparing of monthly financial reports and analysis in accordance with relevant accounting standards g) Preparing for ADNOC’s future financial needs and stability through preparation and recommendation of loan applications for projects approved by the board including periodic review of debt portfolios for suitable rates. h) Assisting in preparation of business plans and financial forecasts for ventures associated with ADNOC i) Coordinating preparation for audits and filling of tax returns while ensuring proper maintaining of accounting records and documents in line with legal requirements and company policies. j) Monitoring ADNOC accounting systems for errors k) Managing a team of senior employees responsible for coordination and execution of the functions performed in Finance, HR and administrative groups. Key Competencies For effective performance of the job, the ideal candidate shall possess the following competencies; Financial Accounting Skills –The candidate shall have knowledge on the various accounting standards. In addition, the candidate shall have adequate skills in budgeting and forecasting. Analytical skills – the candidate shall have adequate analytical skills for synthesizing complex financial information. Project management skills –the candidate should be able to develop project plans, coordinate projects while ensuring projects are completed within budgets People management skills – the candidate shall have people management skills for managing those working under him/her Cost conscious –The candidate should be able to ensure adherence to budgets while developing and implementing cost cutting measures for the company Judgment – The candidate will have sound decision making skills Organizing skills – The candidate shall have skills to prioritize and plan work activities while developing realistic action plans Quality management – The candidate shall be capable of looking for strategies to improve and promote quality within ADNOC Strategic thinking –The candidate shall have the ability to develop strategies for achieving organizational goals and undertaking SWOT analysis for the organization. Qualifications a) Education -The ideal candidate shall have a bachelor’s degree in accounting or finance related discipline from a recognized university -Those with MBA qualifications will have an added advantage b) Work Experience - The candidate shall have at least 7 years experience in a similar position three of which were preferably spent in a similar organization -Experience as a financial controller is preferable c) Communication skills -ability to communicate quickly and easily -possesses adequate written communication skills -Possesses ability to present information clearly and informatively d) Computer skills and proficiency in all programs necessary for running the office are of paramount importance Closing date: All interested candidate should send their application letters through the address above. Alternatively they can use the company’s website to make their application. NB// All applications addressed to the group human resources director should reach the company not later than Thursday 19th December 2013 at 3.45 pm. Initial Screening of Job Applicants The screening of applicants shall be done by the human resources selection committee jointly composed by senior management staff from finance department and the human resources department. For screening purposes, all the applicants will be required to submit well written resumes that shall be required to have met the above job specification. In addition, copies of academic and professional qualifications as well as any other relevant qualifications will be required to have been attached to the application letters. At first, the committee shall go through all the applications to eliminate 90% of the expected 100 applicants. In so doing, the committee shall consider the following when screening the applications; a) Neatness – All the applicants whose applicants are not considered neat will be left out since such a high profile job requires an organized person. b) Completeness – Incomplete applications imply that the applicant does not follow instructions and hence incomplete applications will be disqualified c) Outside interests – All applicants who are not involved in activities outside their career will be disqualified d) Relevant experience – All applicants who have not worked in the oil industry for 3-5 years will be disqualified. Short Listing the Applicants The selection committee will compile a list of the essential criteria based on job description above as a basis of short listing. Each application will then be scanned for the essential criteria which will include qualifications, knowledge and skills. The applicants will be examined for relevant experience, skills, unexplained gaps in employment, attention to details and mistakes as well as any unexplained thing. The applications will then be examined for all legal requirements and adherence to company policy. Based on this, the applicants to be invited for interviews will be shortlisted. Four types of tests will be administered to those who qualify for interviews. They include: a) Achievement tests – this will be aimed at picking the applicants who already posses the required skills and knowledge for the job. b) Aptitude tests – these will be aimed at measuring the general space visualization, verbal conceptualization, mathematical aptitude and other capabilities of the applicants. c) Personality tests – the test will aim at establishing the applicant’s personality d) Telephone interview – The interview will be conducted before the tests and will consist of some competency questions, questions on CV, work experience and education. Choosing top candidates The above processes will leave the selection committee with three top candidates from which the successful applicant will be chosen. The following further metrics will be useful in choosing the candidates; a) Competency based interview –This will be aimed at evaluating the candidates’ behavior and prior experiences in related work in previous employment. It will also test the candidates’ decision making skills and ability to lead and be innovative (Maggie, 2008). b) Technical interview – this will be aimed at testing the applicant’s problem solving skills as well as creativity. In addition, the interview will unearth the candidate’s analytical skills. c) Presentation – in this case, candidates will be given a hypothetical situation requiring financial solution and present to the panel so that the panel can see how the candidate would perform under similar circumstances. It is hoped that after undergoing the above process, we will be able to choose a competent candidate for the job. Job offer sheet The successful candidate will be issued with either of the following job offers depending on whether he/she is a local or an expatriate; Abu Dhabi Company for Onshore Oil Operations P.O BOX 270, Abu Dhabi United Arabs Emirates Tel: +9712-6040000 Successful applicant’s name and address Dear (Applicant’s name): RE: JOB OFFER I am pleased to offer you employment as the company’s Chief finance officer. Following the concluded recruitment and selection process, we felt that your background and skills will be of value to ADNOC team. You will be reporting to the group CEO and your starting date will be Monday January 6th 2014. Your net salary will be $ 60,000 per year which will be paid at the end of every month. The salary and allowances are subject to increment depending on your productivity. In addition, the HR office will give you an employee handbook detailing the medical and retirement benefits you are entitled to as our employee. If you accept the job offer, please sign the copy of this letter and return it to HR director’s office ADNOC looks forward to welcoming you as our new Chief finance officer Sincerely HR Director. Abu Dhabi Company for Onshore Oil Operations P.O BOX 270, Abu Dhabi United Arabs Emirates Tel: +9712-6040000 Successful applicant’s name and address Dear (Applicant’s name): RE: JOB OFFER I am pleased to offer you employment as the company’s Chief finance officer. Following the concluded recruitment and selection process, we felt that your background and skills will be of value to ADNOC team. The following details relate to the offer; Responsibilities: You will serve as the company’s chief finance officer. Work pay: you will be paid $60,000 at the end of every month. Work Periods: Mondays to Fridays from 8.00 am to 4.00 pm with Fridays being holidays for Muslim employees. Allowances: You will be entitled to inconvenience allowance at 15%, entertainment allowance at 10% and leave salary at 100% of your basic salary. In addition, Free to and from tickets will be given for home leave. Home leave: As an expatriate, you are entitled to 1 month paid home leave. If you accept the job offer, please sign the copy of this letter and return it to HR director’s office ADNOC looks forward to welcoming you as our new Chief finance officer Sincerely HR Director. Recruitment and Selection Timeline The following recruitment and selection timeline shall apply for the post November 25-30: Job design (description and specification and design of advert) December 1st -13th: Advertisement placement December 1st -19th: Receipt of Applications December 20th-23rd: Screening and Short listing of applications December 24th- 30th: Tests, Interviews and selection of successful candidate January 1st : Send Job offer January 6th : Job acceptance Conclusion The chief finance officer being a very important position for the company calls for a highly competent individual. This is the reason behind the candidate having to undergo the various tests and interviews above. It is hoped that by following the above process, we will get one of the best CFO’s for the company. References: Abu Dhabi National Oil company, 2013, ADNOC, Retrieved on 8th December 2013, From; https://www.abudhabi.ae/egovPoolPortal_WAR/appmanager/ADeGP/Citizen?_nfpb=true&_pageLabel=p_citizen_departments&lang=en&did=133374 Janet, B2012, Principles of Human Resources Management, London, Rutledge. Maggie, S2008, A handbook on Human resources hiring process, New York, John Willey& sons. Jonathan, A2007, Human resources planning, Oxford, Oxford University Press. Read More