Changes that MPI can put to improve their recruitment, selection, and career development of graduates
Money Penny Investments have a very good approach in the selection and recruitment of employees to join their team. The idea of looking for fresh graduates who have just completed or are about to complete university is excellent. Fresh graduates are the best people to recruit and train (Abdul-Rahman, 2010). This is because they are young, energetic, enthusiastic, creative, innovative, and have the chance to learn and adapt to a new environment and working conditions. With proper training, these individuals can fully adapt to the companys system and work in accordance with the terms and conditions that have been set by the organization.
To improve on this idea, the company should also consider increasing the base which they use to find and select recruits for career building and development. The company should try to search and identify employees from a wider base rather than just depending on fresh graduates from the university. Since the program widely depends on young individuals, it should be modified to include individuals who have graduated at least in the last five years. By making this move, the company will stand a higher chance of getting more individuals to choose from. This will thus ensure that the candidates who are selected for the training program are of the best caliber.
Money Penny Investments should also try to expand this program overseas. It should not just depend on graduates from Australia. This is because the company is in the phase of expanding its operations into new markets. For a company to be successful in a new market, it must have a good knowledge and understanding of the market itself and identify the means through which it can stabilize and make profits. The people who may assist in this are the trainees from these countries.
These individuals have a good understanding of their local markets. They know the strengths and weaknesses of the industry therefore they can capitalize on this knowledge to ensure that the company entrance into the new market becomes successful. The training which they will receive will impart the extra knowledge and skills which are required in the performance of their tasks. This training will also ensure that they adopt MPIs culture. In doing so, the company will stand a higher chance of success while venturing into new markets.
How the recruitment of a team leader and customer care staff in Bangkok should have been conducted by MPI to ensure that the project is successful?
The move to create a branch in Bangkok was unsuccessful due to the procedure that was used to select a team leader to head the office and the manner in which the customer service staff was selected and hired. The individual who was chosen for the position of a team leader, Sally, had great credentials in her work. She had been successful in most of the tasks and duties that had been signed to her in the course of her career.
As a result, she had a lot of respect from her fellow employees and therefore was the best candidate for the position. The success of moving into a new market mainly depends on the individual ability of a leader to adapt to the new environment and culture (Robbins et al, 2011). This is very critical since this individual acts as a representative of the company overseas. Despite her success and credentials, Sally did not meet these requirements
There are a lot of factors that MPI should have considered before offering this opportunity to someone. First of all, they should ensure that the individual has good leadership skills. This should be reflected in his or her past experiences as a leader and the success that he or she had in that position. A team leader, especially for such a position should also have a good understanding of the overseas market. He/she should have a clear knowledge and understanding of the status of the market and how it operates. Most importantly, the individual should have experience in holding such a position.
Experience is essential in this position since it will ensure that the project is successful at the end (Wether and Chandler, 2006). Sally lacked experience on her part. She chose an inexperienced company to hire the customer care staff. Due to their incompetence, the staff which this company recruited was not competent enough to meet the standards that are required by MPI. They barely met the deadlines, provided a lot of applications of individuals who did not meet the requirements, and the individuals who were selected lacked professional ethics.
MPI should also have used a different strategy in the hiring of the customer care staff in Bangkok. It could have used a reputable outsourcing company to recruit the best people for these positions in the country (Weick, 2009). This company should be identified and selected at a good time. This will give it ample time to look for the best employees for recruitment. The company should also have established a training program for fresh graduates in the country. This program should have been running for several years. Having such a program in place ensures that the company identifies and employs the best employees who meet their standards.
Reference
Abdul-Rahman, Y. (2010). The Art of Islamic Banking and Finance: Tools and Techniques for Community-Based Banking. New York: John Wiley and Sons.
Robbins, S.P., Judge, T.A., Millett, B, and Boyle, M. (2011). Organizational Behaviour. Frenchs Forest: Pearson.
Weick, K. E. (2009) Sensemaking in Organizations. Organization Science, 2 (1), 405-420.
Wether, W and Chandler, D. (2006). Strategic Corporate Social Responsibility: Stakeholders in a Global Environment. Miami.Sage.