I would like to express my gratitude to all those who gave us the possibility to complete this assignment. I want to thank the Department of Business Administration for giving me permission to commence this assignment in the first instance, to do the necessary research work.
I am deeply indebted to our supervisor Madam Syeda Humaira from the Federal Urdu University Karachi whose help, stimulating suggestions and encouragement helped me in all the time of research for and writing of this assignment. The hiring process in Bank Alfalah Limited according to Decision Making Process (Imaginary) Here we will discuss the hiring process in Bank Al-Falah branch by the decision making process.
1st Step: Identifying a Problem
In this step, we analyze what the problem actually is? And how can we overcome this problem! In our topic, Marketing Executives of Bank Al-Falah analyze that they should give priority to those customers who have an individual account or party account greater than 1 million Rupees.
That’s why Bank Alfalah is launching a new product which will be known as “Priority Banking” so that the bank can be able to capture the big customers of the market. For this purpose, the bank has to hire some officers who will deal with customers in the branch and will do the marketing of that product as well. We have to select just three best candidates either from IBA, CBM, Humdard University, Karachi University, or Iqra University, and the preference will be given to MBAs in Marketing.
2nd Step: Identification of Decision Criteria
In this step, we actually decide or fix the qualities which a candidate must have. The qualities which a candidate must have according to our decision criteria are Curriculum Vitae (CV) Presentation: when we apply somewhere we do not go there most probably rather we send our CV to that organization. In this way, the CV provided by us is the best representative of your personality.
- Qualification: Candidate’s qualification must meet the job required qualification. The selection committee prefers the desire to specialize on a secondary basis.
- Experience: Any candidate should have some experience and if the candidate is starting his career, he is advised to do an internship in the desired field first.
- Subject Knowledge: Candidate must have broad knowledge about his subject as well as he should be good in current affairs.
- Communication: In the interview, if you communicate in English, it gives a good impression on interviewer but it is not necessary to communicate in English, you just communicate in that language in which you can speak confidently but the most important thing is that the language you are speaking, the interviewer can understand or not.
3rd Step: Allocation Weights to Criteria
In this step, we have to assume the weights (points) of the skills and presentation of CV on our own, on the basis of which we are going to select the desired candidate or who will b assumed fit for the organization. In the following we will discuss the assumed points we will give to their skills, and these marks will be out of 10.
- CV Presentation =4
- Subject and general Knowledge =6
4th Step: Development of Alternatives
In this step, we are going to choose the desired institutions from which we are going to select the best candidates, and the most preferred institutions to select the desired candidates are discussed below:
- Institute of Business Administration (IBA)
- College for Business Management (CBM)
- Hamdard University
- Karachi University
- Iqra University
Overall we selected these five institutions from where the candidates are going to be selected.
5th Step: Analyzing Alternatives
In step 5 we will discuss why we are allocating CV presentation, qualification, experience, and other skills. In this step we will give the marks to the candidates on the basis of CV presentation, their qualifications, experience, subject, and general knowledge and communication skills.
CV Presentation: We gave equal marks to each candidate in the CV presentation because the institutions which we selected, they all teach/guide these students how to prepare an attractive CV. Qualification: e gave the marks of qualification on the basis of their specialization in MBA. Experience: We gave the marks to the students on the basis of their internship experiences, because we are selecting the fresh candidates and we’ll give them training. Subject and general knowledge: As we know that the student of IBA is good in their subjects knowledge as well as current affairs because their institution trains them according to market requirement. Communication: Communication skills of all the students from the institutions which are selected enhance the students in written and spoken abilities so that they able to communicate and survive in the market successfully.
6th Step: Implementing the Alternatives
Before implementation, we trained these successful candidates that how to deal with the customers and how to increase our business, and then we post them in the market to do the work independently.
7th Step: Evolution of Decision Effectiveness
After the training, we analyze whether they are carried out their duties/responsibilities as required. If we feel they are effective and they are giving us the desired results then we appoint them otherwise we again analyze why we couldn’t get the success. There can be two possibilities: i. We couldn’t identify the problem. ii. We couldn’t analyze the alternatives in a better way. In this situation, we again start our process from the beginning rather our decision was correct then we just monitor the adjusting.