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The human resource management process is begins with deciding what the job entail. Therefore we need to know about human resource management. So the purpose of this assignment is to understand about job analysis, job description and job specification. Each and every organization consists of jobs and that have to be staffed. Job analysis is a process through which we determine the duties of these positions and the characteristics of the people who are hire for the firm. Job description and job specification are the products of job analysis. We will see in the moment that every manager should understand the mechanics of analyze the jobs.
JOB ANALYSIS OF FINANCE MANAGER
Finance manager has a responsibility of maintaining and the managing the finance strategy, finance, finance reports within the organization. Financial manager work for to accomplish mission, vision and goal of a company be serving as the member of the finance team. Financial manager have an understanding of various types issues and business strategies.
There are certain form for job analysis of financial manager which are given below,
1. Primary responsibilities.
Finance manager make a financial forecasting and share findings with senior management. They conduct a meeting over a period of time to talk about challenge and risk which are facing the company in the long run and short run. The finance manager draws a outline key for financial measurement and models and charts. The individual in this location leads preparation meetings and works cross-functionally. The financial manager maintains the finance software and builds financial decision that influences the organization.
2. Other responsibilities.
Finance manager serves a his/her responsibilities on various areas such as controller or finance officer. Depending on title the finance manager maintain cash payments and receipts. Financial manager also prepare financial statements and make a financial analysis. The finance banking institution also mange loan, mortgage and other bank related services.
3. Work environment.
Financial manager work with financial professionals in office environment. For a proper financial works they use different techniques with the use of computers and various range of software like tally and database management system. The situation requires work outside a typical workday as well as travelling.
4. Training and Qualification.
Finance manager requires a bachelor degree in any financial discipline such as accounting or finance. Some companies require finance manager as a master of business administration. Finance manager must have an experience in any financial industry. Whereas the job requires knowledge of accounting. Finance managers must have a knowledge of account and accounting principles because of that they work with public and customers, finance manager should have communication and proper customer service skills. The position require the ability to think analytically and the capability to make a proper decision regarding any situation. Finance manager must have an experience about financial systems.
The average salary of financial manager is 75000$ annually and as per the company standards and policies.
JOB DESCRIPTION OF FINANCE MANAGER
Financial manager is responsible for giving financial advice and support to clients and other persons of organization. Specific work environment require both public and private sector organization such as multinational companies, suppliers, retailers, charities, financial institutions like banks, manufacturing units and universities. Financial management is the main aspect of all major business decisions. The proper budgetary planning is essential for long term as well as short term planning. In addition care must be taken to guarantee that financial practice are in line with all governmental legislation and policy.
Work Activity of finance manager
Providing and explanation the financial information,
Maintaining cash inflows and outflows,
analyze changes and advise accordingly,
prepare a strategies and long term business plans,
research and report the factors which affect the business,
analyze competitors and market trends,
develop financial management and minimize financial risk,
evaluation of cost reduction opportunities,
manage the financial accounting and reporting system,
liaise with auditors to guarantee yearly monitoring is carried out,
maintain a good relationship with external contacts such as auditors, solicitors, bankers and statutory organizations,
prepare accurate financial reports,
arrange another or new sources of finance for the company's debt,
aware about changes in financial regulations and legislation and policies.
RECRUITMENT AND SELECTION PROCESS
(1)Review project management approach.
The project director meets with hiring institutions and others and discuss for the search. Discussions include review the work plan, verify timing and establishing communication methods.
(2)Develop Recruitment Brochure.
Develop the recruitment brochure for the specific designation is a guidance for the entire search process. Development of profile includes collecting technical information and recruitment criteria.
The search executive or consultants meet with hiring authority. It is necessary. The motive behind these meetings is to take gain and understanding of the professional background requirements preferred the placement.
The recruitment criteria are for those personnel and professionals as well as experiences desired in the placements. The criteria consist of goal and objectives of company. The search consultant meets with the staff of agency to facilitate identifying and articulate the criteria.
(5)Outreach and Recruiting.
This step is among the most important step in the entire search. They develop a outreach and advertisement that includes placement of various professionals publications particular to the area of expertise being wanted. This method of outreach to possible applicants provides a confidential resource that is consistently monitored by many key levels executive.
They review all applicants to identify and evaluate those that are matching with recruitment criteria and minimum qualification. The evaluation include some factor such as professional experience, size and complexity of the candidate's recent organization as compared to the applicant profile.
The search consultants carry out preliminary mention review of candidates who are identified during screening as the most qualified. They make direct contact with candidate who are passed the screening for learn more about the candidates behaviour, past act and management style.
After this step the search consultants take a preliminary interview of candidate who are pass the screening and primary reference review and approved by the authority. The external interview are conducted to know about additional information about the candidate.
After completing with screening and interview, the search consultants meet with the other hiring council to review the search report on the candidates who are interviewed. The search report includes candidates CV or Resume.
The final selection process is conducted on the basis of review of hiring authority. The search consultants make a selection process for finalist candidates. The search consultant make an interview booklet that include the resume and candidate report. The report contain different question and areas of discussion based upon the recruitment criteria. The search consultants attends the interview through the selection process. Search consultant is vacant to assist the hiring authority in the final selection. This assistance include providing and obtaining any additional information to assist in making the final selection decision.
ADVERTISEMENT OF RECRUITMENT
The recruitment advertising devise agency gives a absolute idea of advertising design services including media planning and buying, innovative design, multimedia and online strategies. The advertising agency gives a complete recruitment advertisement design tools like design, multimedia etc. the advertisement agency have a special team for administer, coordinate and apply the right decision for making a advertisement of recruitment. Therefore, this should be attractive and should convey a strong and powerful company. The professional provide complete knowledge about structured recruitment advertising design. This they can extend our advertisement so that convey a huge audience having understanding in just the right line of business that your company is looking for. The service after sales is a most important feature of advertisement. For preparation of advertisement of recruitment of finance manager the company should approach to the advertisement agency so that they will help them to make advertisement.
The sources of advertisement given below.
SOURCES OF ADVERTISEMENT OF RECRUITMENT
There are two types of sources for advertisement which are given below,
it include efficiency of employees promotion and demotion on the basis of performance of employees.
Dependence of relative and other person who approach to the company for recruitment.
Retired and retrenched employees in case of in case of shortage of qualified personnel or increase in work load.
Newspaper are the most effective external source of the advertisement but the problem with newspaper is that it is effective in the only in small area, from long distance it is n-affective.
Educational institute's campus recruitment is the other way of external source of advertisement.
Performance Appraisal is the organized measure of the performance of employees and to know the ability of a person for future growth and development. Performance appraisal is generally done in systematic ways which are as follows:
The superior measure the pay of employees and evaluate it with target and strategy.
The supervisor analyzes the factors following work act of employees.
The employers are in a situation to supervise the employees for a better performance.
Performance appraisal is a method of acquiring and processing the information needed to improve an individual employee's performance and accomplishments.
It is the process of evaluating the performance of employees, sharing that information with them and searching for ways to improve their performance.
1. Critical incident method.
This method of performance appraisal which involves evaluate and identify specific situation where employees do something well which improve the performance of employees.
2. Weighted checklist method.
In this method, performance appraisal is made under where the jobs being evaluated based on explanatory statements about successful and ineffective performance on jobs.
3. Paired comparison analysis.
This method of performance appraisal is a good way to made entire use of the methods of options. Each option is in assessment with the others in the list. The results will be declared and then option with zenith rank will be mostly chosen.
4. Essay Evaluation method.
In this method of performance appraisal, superior (managers/supervisor) are figure out the strong and weak point of staff's performance. Essay evaluation method is a mathematical technique. It is frequently mixed with the form the graphic rating scale.
5. Behaviorally anchored rating scales.
This method performance appraisal is based on making rates on behaviors of employees. to determine the effectiveness or ineffectiveness of working performance. The form is a mixture of the rating range and decisive incident methods to evaluate behavior of the staff.
6. Performance ranking method.
The performance appraisal of ranking method is useful to evaluate the performance of employees from the highest to lowest levels. Managers will make evaluation of an employee with the others, instead of made evaluation of each worker with some positive principles.
7. Management By Objectives (MBO) method.
In this method of performance the managers should sets a standard or objective and made an evaluation of performance of employees and lastly make results based on result achieved. This method mostly cares about the results achieved (goals) but not how employees can fulfill them.
8. 360 degree performance appraisal.
The style of 360 degree performance appraisal is a method that employees will give classified and nameless evaluation on their colleagues. This position also informed that, that can be used as reference for such methods of performance assessments of 720, 540, 180…
9. Forced ranking method.
In this method of performance appraisal, employees are ranked in terms of strength distribution. It is vital that the ratio be shared in the way that 10 or 20 % will be the highest levels of performances, while 70 or 80% will be in the middle level and the rest will be in the lowest one.
10. Behavioral Observation Scales.
The method is based on the balance of supervision on behaviors is the one in which is more important tasks that employees have performed during their working time will be evaluated on a regular basis.
According to me among above all 10 methods of performance appraisal the management by objective method (MBO) is appropriate method of performance appraisal of financial manager. Because this method is widely used in the recent organization and widely used in financial institution like banks and share market. MBO is a method of performance appraisal in which managers or employers set a list of objectives and make assessments on their performance on a regular basis, and finally make rewards based on the results achieved. This method mostly cares about the results achieved (goals) but not to the way how employees can fulfill them.