The Connection between Personal and Organisational Development - Essay Example

?Introduction To find the right job entails a strong match and connection between an individual’s interest and his/her experiences (Backhaus 2003). Although countless job seekers are motivated to find jobs due to monetary rewards, others still perceive the importance of finding a job that is rewarding and evocative at the same time (Jansen, Jansen and Spink 2005). The previous modules that we have been discussing gave me an extensive idea of aligning my professional goals with personal interests through various strategies such as doing self-evaluation and finding out whether my competencies are well matched with my preferred job, doing research about certain job offers to understand the type of work that I will be taking on and whether these can meet my expectations, visiting popular recruitment sites online, networking techniques, and going over opportunities for career advancement. This way, understanding the link between my own attributes and required characteristics for employment will help me in being clear about my goals, responsibilities and challenges that can be possibly attached with the profession itself. Task One I am aware of how competitive the business environment is that obtaining a financial analyst position in successful firms will be incredibly challenging especially for those with fewer experiences or less idea on this profession’s tasks and responsibilities. As a means of preparing for employment, the use of a SMART career plan has allowed me to outline all my goals that I intend to successfully achieve over a period of time as I develop goals which are specific, measurable, achievable, realistic, and time framed. My very first concern is my resume and cover letter as employers first look through these regardless of how capable, knowledgeable, or experienced a candidate is; what matters first is to present an impressive resume that provides an overview of educational attainment and relevant job experience in an honest, concise, and professional manner. Since I only have limited work history and do not have actual employment experience even in a short duration, I intend to use the unconventional format for presenting my abilities and other attributes in a better structure. Moreover, asking feedback from other people may also allow for further improvements. Next goal is to attend at least four events every month to establish connections with other people who have more experience and knowledge. This can be achieved by attending programs and other training opportunities that can allow me to both meet individuals who intend to learn the best practices and skills for financial analysis and other finance-related tasks. Aside from making valuable connections, it is most likely that the necessary knowledge and skills are developed. For instance, I have learned about the Financial Analysis Specialist (FAS) Program that is an online designation program implemented for financial analysis professionals to improve their training and verify their knowledge for them to land a job within the industry. It has presented a number of objectives for trainees such as being able to understand and use financial analysis tools and practices, the basic principles of accounting, and online resources for a more efficient financial analysis, to name a few- addressing my needs to considerably improve on my own set of skills. Programs like these will also help my potential employers in knowing that I possess specialized knowledge with regards to this particular area, possibly much more than others who are competing to have this job. This will also suggest that I am serious about my professional goals and that I immediately take relevant action for my career development. Participating in exams such as the Series 7 or 63 may also equip me with terms and practices for accounting and other finance-related while reviewing for and taking the Chartered Financial Analyst (CFA) exam will considerably improve my technical knowledge. Additionally, several tests and modules gave me a clearer view on aligning my capabilities with goal setting especially in becoming a financial analyst. For instance, psychometric testing for abstract, verbal and numerical reasoning skills as well as learning styles made me further realize how I am in crucial need for improving many of the skills that are needed to become a financial analyst. The results for the abstract reasoning test gave me a low score with which I only managed to correctly answer about 30% of the questions. This will suggest that I need to improve on my ability to identify relationships and themes between certain issues in order to come up with new ideas and enhance my problem solving skills. The test to indicate my learning styles identified a style that can be referred to as “activator” which suggests that I enjoy and prefer being involved in practical activities. Because I prefer having a “hands-on” experience, I tend to develop relationships with others for meaningful interactions and exchange of ideas. In short, having an “activator” style for learning intends to relate experience with learning to maximize its full effect. Because activators want to see and experience action through practical applications, it has been implied that they desire to create order and deliver efficient outcomes. Consequently, all important issues and concerns are to be attended to immediately to produce favorable results. People like myself who possess an “activator” learning style prefers subjects that deal with facts, can be proven useful, can demonstrate actual experience and application instead of theories and concepts alone, and more importantly, are able to provide possible solutions to problems. All these explain why I am keen on pursuing a finance-related career as financial analysis is well-structured, requires immediate application of tools and practices, as well as aims to obtain relevant outcomes. This test for indicating learning styles, thus, provides me with a clearer view of why becoming a financial analyst is well-matched to many of my characteristics. To gain professional qualifications is generally a must for me and if I am to obtain employment in a bank or in a brokerage firm, my overall plan is to first work as a junior analyst and work my way up to more senior positions. After three to five years of being employed and working with financial services, I intend to obtain any form of promotion as a means of enhancing my professional career. I have been informed that a considerable amount of time and effort is required in this profession, such as being expected to work for more than 50 hours per week and even reaching 90 hours during busy time periods. There are possibilities that I may not entirely succeed as a financial analyst so I am keeping options my open; if ever this is not the most appropriate job for me, I will be considering my background and seek other related professions that will offer a wide range of opportunities for career growth and development. Recruitment and Selection Practices of Employers The process for recruitment, assessment, and selection remains to be a crucial component for successfully hiring effective employees. Seeking candidates that are well-matched to the organization’s requirements entails strategic thinking among the company’s human resource department, with their main goal as the long-term success of their firm through the employees that they select (El-Kot and Leat 2008). Unfavorable outcomes of ineffective recruitment choices, such as demonstrating a weak person-job fit, can often lead to adverse results such as an increased rate of turnover, a decrease in performance effectiveness, a decrease in employees’ job –related satisfaction, as well as a decrease in work motivation. Companies have been known to develop and implement recruitment processes which can yield positive outcomes on both the organization and its potential employees. For example, ensuring that job descriptions which are up-to-date are provided can give candidates with a clear view of the specific tasks that are required for the job (Heraty and Morley 1998). These also include the necessary skills and knowledge needed to effectively function for the job. Many finance-related positions are complex and are generally characterized by demanding work, simultaneously assuming multiple roles, and constantly changing needs. Under such circumstances, the most appropriate person-job fit can be obtained by emphasizing the consistency between the candidates’ attributes and the company’s activities (Stewart and Knowles 2000). Job descriptions can be further enhanced by collecting information from a wide range of sources. Because supervisors and employees who work under similar roles are most likely to be given the responsibility of providing or modifying the competencies and responsibilities required for a certain job position. Hence, they often gather relevant information that may be related to establish accurate job descriptions and assess candidates such as how to distinguish poor from good job-related performance or what characteristics should be reasonably expected. It is also considered whether the company is willing to employ workers who have less experience and provide activities for professional development for enhancing their skills and knowledge. Carrying out a successful strategy for employee recruitment also entails having the reliable sources of recruitment such as advertisements, employment agencies, personal recommendations, and direct applications, to name a few (Branine 2008). This wide range of recruitment techniques can be utilized in order to hire new employees; however, a number of reports have indicated that recruiting new staff members through personal referrals from current staff members or direct (uncalled for) applications tends to lead to a lower rate of turnover. In fact, it has been shown to increase the employees’ job satisfaction as well compared to other conventional recruitment means such as advertisements. Various individuals in an organization are often responsible for recruiting new workers such as allowing them to conduct interviews or answer telephone inquiries, to name a few examples of their tasks. Recruiters can generally have a considerable impact on the job candidates especially their interest in a job position and intentions in accepting the job offer (Farnham and Stevens 2000). The position’s supervisor or co-workers are considered effective recruiters as they are often viewed to be a reliable and plausible source of information regarding the job position and the organization itself. It has also been pointed out that recruiters who display friendliness and substantial information are linked with stronger intentions of candidates accepting the job offer. To highlight the positive components of a job position is crucial for attracting desirable potential employees, thus the need for recruiters who provide precise and sensible information. On the other hand, providing job descriptions that are unreasonably optimistic can bring about negative issues in the long run when the expectations of new employees are not met. The evaluation of recruitment strategies to determine their effectiveness also plays an important role such as conducting cost-benefit analysis with regards to the number of job candidates who were recruited and comparing the efficiency of these applicants who were hired through various strategies. Examining the performance, absenteeism and retention rates of employees who were recruited from various sources can also be of good use (Min and Kleiner 2001). Generally, employers make use of various ways through which they can assess job candidates. A common of these would be the resumes and written applications, also known as the curriculum vitae, which provide an overview of relevant information with regards to the applicant’s professional history, experience, and qualifications (Lockyer and Scholarios 2007). It is recommended for all recruiters to verify all information in these CVs whenever appropriate, such as asking candidates to explain certain gaps in their work history, to improve the effectiveness of written applications. Structured interviews have also been a recommended means for assessing job applicants as these involve asking them relevant questions and evaluating their responses based on pre-determined standards. Situational questions that ask applicants about possible situations which may happen with the job and experience-based questions that highlight the applicant’s previous experiences are both raised during such interviews to determine how well they can respond to certain situations. Other employers also make use of reference checks to identify employment problems in past and confirming the accuracy of one’s CV (Schullery, Ickes, and Schullery 2009). Because insignificant negative results have been found through reference checks, it is inadvisable to distinguish applications based on reference checks alone. For external recruitment, organizations have been continuously advised to establish connects with career counselors in universities and other educational institutions to become involved in recruiting students for available job positions. Establishing associations with other professional organizations that have objectives which are consistent with the organization’s goals and asking them to advertise job positions to their members have become a useful means for recruiting applicants (Mann and Glover 2001). Meanwhile, internally recruiting workers require clarity about the experience and competencies necessary for applications and assessing possible candidates within the organization who have the qualifications for then open job position can be considered as well. Selection procedures then become solely based on whether the applicants can meet or exceed organizational standards both in the present and in the future. Positive attributes such as being innovative, creative in solving problems, willing to learn, and adaptable to various situations are often taken into account by employers as these characteristics can make a considerable impact on the workplace . More importantly, value systems have become an essential component of effective recruitment and selection processes as organizations continue to target their resources in developing and maintaining a compatible fit between employees and their jobs. This implies that certain individuals are well-matched to function effectively in certain job positions than others (Caldwell and O’Reilly 1990). Research has suggested several factors such as job choice, organizational climate, and values to contribute to person-job fit, and theories have also considered how certain characteristics, individual and situation, can influence a person’s response to a particular situation. Person-organization fit refers to the consistency between organizational values and individual values. Value systems remain to be fundamental aspect of corporate culture and ample research has suggested that culture significantly influences how well a person fits into the organizational setting. Similarities between individual and organizational values have been shown to produce favorable outcomes such as job satisfaction and higher retention rates. When individuals feel that they do not fit into the working environment, they most likely experience feelings of anxiety and insecurity (Li and Hung 2010). On the other hand, a strong perception of person-job fit will allow them to experience higher levels of positive affect and tend to stay with the organization for a long time. Employees are also more attracted and satisfied with organizations that are effective in their recruitment and selection processes, provide a clear path for rewards and career development, and demonstrates a strong value system through their employees as role models. Most often people are attracted to careers that match their interests, personality, and values, and that they often take into account the characteristics of a certain job position such as its pay, description, or fringe benefits whenever they make choices about applying for or accepting the job offer (Wheeler, Gallagher, Brouer, and Sablynski 2007). All of these suggest that there is a wide range of contributing factors that should be significantly considered when implementing recruitment and selection processes to ensure that favorable outcomes both for the organization and its employees are obtained. Self-Evaluation Financial analysts are required to possess personal characteristics that mainly involve good thinking and communication skills. Analytical skills are necessary for conducting comprehensive research and come up with objective recommendations with regards to investment decisions. They should also possess the ability to effectively present and discuss their findings as well as skills for managing time and responding to frequent disruptions at work. It is also important to provide a strategic approach, analyze problems, and look for inventive solutions while consulting and at the same time directing other people. High ethical standards along with strong communication skills are also preferred by employers who intend to hire financial analysts that can provide favorable outcomes in a long term. Most of the tests that I have completed regarding my personalities and skills have pointed out that I prefer to engage in activities that will yield positive and practical outcomes. I also tend to like environments where people are able to interact well, activities are highly prioritized, and results of such tasks are tangible and immediate. Because I choose activities that have a hands-on approach and have immediate outcomes, I believe that being involved in financial analysis will further interest me as their environment has been shown to revolve around constant demand and challenges and therefore requires immediate solutions to problems. My inclination to conduct work in a brisk and structured manner so both employers and clients become confident may also be of great use to them. However, I may demonstrate a weak personality in times of uncertainty, when things do not go as planned or when unexpected situations occur. I do not really mix well with spontaneity and to implement a traditional process during times of ambiguity is what I often do. This may create certain problems for my employers or the workplace in general if I am not able to address this concern. It would be more favorable if I undergo more training programs, particularly those that involve building cooperation and teamwork, to increase my hands-on experience so I will continuously become exposed to uncertain situations and practice my way of dealing with ambiguous circumstances. This way, when I obtain long-term employment with a certain organization, my chances of effectively dealing with activities that are influenced my constant change will be increased. Organizations in need for financial analysts also choose to hire workers who demonstrate proficiency in using software applications, databases, programs for presentations, and other online tools and resources, hence the need to improve my skills in utilizing such applications. Many junior analysts are often promoted when they are able to integrate these technical skills and knowledge with interpersonal capabilities in order to provide accurate findings through a clear and informative approach. To gather information about macroeconomy along with gathering facts with regards to certain companies and their application of various aspects of the economy on their processes is required for most financial analysts, hence the need to demonstrate careful observation. Research is also required out of this job so I suggest that I myself conduct some reading about financial news in publications and websites that offer information on business and finance-related reports and trends. Analysts may also be given the opportunity to travel for them to observe first-hand the operations of other organizations at a ground level and attend important conventions with co-workers who belong to the same industry or perform similar tasks. Communication skills should then be effectively exhibited in such situations. Due to the fact that the career of financial analysts entail considerable work and preparation, the need for graduate students to go through as much training and hands-on experience as they can becomes crucial. To obtain the most relevant training opportunities and actual experiences regarding financial analysis is my topmost priority at the moment to make sure that I will be successfully hired by my prospect employers in the coming months. Communication Styles Regardless of career preferences, the significance of communication skills for individuals who intend to obtain employment or achieve career advancement cannot be underemphasized. For instance the Secretary’s Commission on Achieving Necessary Skills (SCANS) under the US Department of Labor was able to identify that interpersonal and communication skills, such as listening or speaking, are two of the most important skills that play a fundamental role in attaining success in any workplace. Interpersonal skills are characterized by an individual’s ability to complete tasks with his/her team, provide knowledge of others, provide service to customers, inspire, facilitate, and function well with other individuals who come from various cultural backgrounds (O’Hair, Friedrich, & Dixon 2002). It has been pointed out that interpersonal skills have been the most commonly mentioned competency in entry level job advertisements in different metropolitan areas (North and Worth 2004) as the need for effective interpersonal skills were emphasized. Many of these entry level ads also highlighted the need for communication skills, especially basic abilities including writing, reading, speaking, and listening. Furthermore, a number of studies have also indicated the relationship between communication skills of workers and perceptions of performance of supervisors (Maes, Weldy, and Icenogle 1997). Oral communication still remains to be the most significant competency during the assessment of job applicants; it is also believed to be the most crucial quality to achieve managerial success. Individuals who desire to become organizational leaders someday should also possess a number of interpersonal and social skills such as supportiveness of group tasks, friendliness, teamwork, fluency in verbal language, and an encouraging behavior. However, despite the relevance of communication and interpersonal skills, research has still pointed out that there is insufficiency in communication skills among individuals (Eisenberg and Goodall 2004). Owing to this fact, organizations have been substantially investing on training opportunities in order to enhance these skills. In 1999, it was reported that the United States were able to provide employee training for improvement of communication skills, 77% for team building, 70% for public speaking, 70% for interviewing, and 64% for business and technical writing (Industry Report 1999). Common criticisms include those of business schools that have been reported to have been inadequately teaching communication skills and abilities that are significantly needed in the current workplace that is highlighted by team orientation, service orientation, and reorganization Shockley-Zalabak 2002). Other responsibilities especially of managers include planning, facilitating, organizing, controlling and commanding all require strong communication skills. Business course work normally involves formal presentations in the classroom; however only a small number of courses generally require students to become involved in other important forms of communication such as being able to resolve conflicts or conduct meetings. Many corporate recruiters have also been dissatisfied with their hired employees as they assumed that such graduates possessed the fundamental knowledge and competencies necessary for their job positions. Because of this, employers have begun emphasizing communication skills to be the main criteria in distinguishing and selecting employees. Krapels and Davis (2000) noted that communication skills, interpersonal skills, and teambuilding skills have become very important for hiring workers. Many companies also believe that they can significantly cut down on costs if schools and other educational institutions can improve the communication skills of their students. Being able to understand the importance of such skills has made me realize that various communication styles exist and each approach can provide favorable outcomes to any organization. For me, the use of verbal/oral communication is a very crucial attribute to achieve success in the workplace and pass on valuable information to employers and co-workers. Oral communication within the organization plays an important role for both the organization and its employees. Verbal exchanges can be beneficial to employees when speaking with superiors for their needs to be recognized and fulfilled. Moreover, employees that do not demonstrate oral communication skills may bring about adverse outcomes such as confusion or loss of productivity (Pincus and Debonis 2004). Managers and other members of the senior level also need to effective skills for oral communication to send clear and concise instructions while interacting with lower level employees. Generally oral communication skills should allow every individual to listen and be understood as well to build relationships, establish a dynamic environment, and help boost the morale of fellow employees. Conclusion The paper has looked into an overview of recruitment and selection procedures used by employers to hire their workers. In order to produce favorable results, there is a need for both the employer and the applicants to do their part. Companies should be clear and accurate as to stating the required competencies and attributes from job applicants while job applicants themselves should also undergo the necessary preparations for them to be accepted by their potential employers. A wide range of skills, from technical knowledge and decision making to social and interpersonal abilities, play a fundamental role in obtaining employment and serving an organization for a long time. Consequently, companies should carry out effective and accurate applicant assessment to hire employees that will match their requirements, work towards organizational goals, and fit right into their environment. Meanwhile job candidates should also consider their educational and professional qualifications when applying for work while enhancing the areas that they need improvement on. This way, the recruitment and selection process will produce outcomes that are appropriate for both the employer and the candidates. Appendices Appendix 1 Curriculum Vitae Name: Ding “Derek” Qiang Sex: Male Date of Birth: 1989-02-22 Nationality: Chinese Place of Birth: Jiangsu Nanjing, China Health: In good physical condition Height: 175cm Weight: 132 pounds Present Address: Room 3 Flat 7 Leaze Arcade road Newcastle Desired Objective/Position: I desire to become a Chartered Financial Analyst. Education and Training 9/2009-12/2009 Study Business with Finance in Newcastle Business School of Northumbria University 9/2007-6/2009 Study Business with Finance in China One year part-time work experience in an investment company in China. Technical Skills Skilled with AUTOCAD, MS Office (Word, Excel, and PowerPoint), Primavera Name Ding “Derek” Qiang I am keen on improving my knowledge of finance. I am interested in developing my communication and analysis skills. I believe that I can make a valuable contribution to improve company performance. I am confident that I can do my best in work. I have a good experience in Chinese marketing and I can bring a lot of information about China as one of the largest markets in the world. Appendix 2- Psychometric Tests Appendix 3- Interview Questions 1. Tell me about yourself. I am a new student graduate from college. I obtained scholarship in my college and I have one year work experience in going through a part time job. 2. What experience do you have in this field? I have worked for a popular investment company in China for one year before I came to England and I have attained a satisfactory level of success in this field. 3. Do you consider yourself successful? Yes, I consider myself to be successful in finance work when I was young. It is because I have put all my energy and time in this area and I have attained success before. 4. What do you know about this organization? It is a very popular organization especially with regards to the field of finance. Many people who study finance want to get a job in this organization. 5. What have you done to improve your knowledge in the last year? I have got a CFA in my last year and I have made certain investments myself to contribute to my accomplishments. 6. Are you applying for other jobs? This is the only job position that I have applied for because I only like this work and I believe I will be successful in this area. 7. Why do you want to work for this organization? I wish to work for this company because they provide good salary; I am also very interested in the variety of finance-related work that they offer. 8. What kind of salary do you need? I need salary that will improve my standards of living and help me establish a comfortable life in this country. 9. Are you a team player? Of course I am a very good team player and I value the sense of cooperation and team unity. 10. Why should we hire you? I am a capable and competent candidate for this job because you can gain certain benefits from hiring people like myself who possess the necessary knowledge and skills as well as a high level of commitment towards this job. My interests are also consistent with the responsibilities and activities that come in finance-related areas. Appendix 4- Reflection My performance in the assessment activities was somewhat satisfactory; however, I perceive that there really is a great need to enhance majority of my skills, whether these be related to technical or communication abilities. I have learned to accept my weak points and admit the fact that I need to work and prepare hard in order to meet the pre-determined standards of potential employers. I have also obtained a wider and clearer view of myself, my personal characteristics as well as my greatest and poorest skills. This way, I now know which strong points I can reinforce and which weak areas I still need to develop and focus on. Being able to understand my attributes and how it can influence as well as be influenced by the employing organization and its workplace has helped me realize how I can achieve success in both my professional development and contribute to organizational achievement as well. Appendix 5- Observance in Meetings References: Backhaus, K 2003, Importance of person-organization fit to job seekers, Career Development International, vol. 8, no. 1, pp. 21 – 26. Branine, M 2008, Graduate recruitment and selection in the UK: A study of the recent changes in methods and expectations, Career Development International, vol. 13, no. 6, pp.497 – 513. Caldwell, DM, and O’ Reilly 1990, Measuring person-job fit using a profile comparison process, Journal of Applied Psychology, vol. 75, pp. 648-657. Eisenberg, EM, and Goodall, HL 2004, Organizational communication: Balancing creativity and constraint (4th ed.), Bedford/St. Martin’s, New York. El-Kot, G, and Leat, M 2008, A survey of recruitment and selection practices in Egypt, Education, Business and Society: Contemporary Middle Eastern Issues, vol. 1, no. 3, pp.200 – 212. Farnham, D, and Stevens, A 2000, Developing and implementing competence-based recruitment and selection in a social services department – A case study of West Sussex County Council, International Journal of Public Sector Management, vol. 13, no. 4, pp.369 – 382. Heraty, N, and Morley, M 1998, In search of good fit: policy and practice in recruitment and selection in Ireland, Journal of Management Development, vol. 17, no. 9, pp.662 – 685. Industry Report 1999, Training, vol. 36, no. 10, pp. 37-81. Jansen, BJ, Jansen, KJ, and Spink, A 2005, Using the web to look for work: Implications for online job seeking and recruiting, Internet Research, vol. 15, no. 1, pp.49 – 66. Krapels, RH, and Davis, BD 2000, Communication training in two companies, Business Communication Quarterly, vol. 63, no, 3, pp. 104-110. Li, CK, and Hung, C-H 2010, An examination of the mediating role of person-job fit in relations between information literacy and work outcomes, Journal of Workplace Learning, vol. 22, no. 5, pp.306 – 318. Min, JC, and Kleiner, BH 2001, How to hire employees effectively, Management Research News, vol. 24, no. 12, pp.31 – 38. Lockyer, C, and Scholarios, D 2007, The “rain dance” of selection in construction: rationality as ritual and the logic of informality, Personnel Review, vol. 36, no. 4, pp.528 – 548. Maes, JD, Weldy, TG, and Icenogle, ML 1997, A managerial perspective: Oral communication competency is most important for business students in the workplace, Journal of Business Communication, vol. 34, no. 1, pp. 67-80. Mann, A, and Glover, C 2010, The point of partnership: the case for employer engagement in education, Strategic HR Review, vol. 10, no. 1, pp.21 – 27. North, AB, and Worth, WE 2004, Trends in selected entry-level technology, interpersonal, and basic communication SCANS skills: 1992-2002, Journal of Employment Counseling, vol. 41, pp. 60-70. O’Hair, D, Friedrich, GW, and Dixon, LD 2002, Strategic communication in business and the professions (4th ed.), Houghton Mifflin, New York. Pincus, JD, and DeBonis, JN 2004, Top dog: A different kind of book about becoming an excellent leader, McGraw-Hill, New York. Shockley-Zalabak, P 2002, Fundamentals of organizational communication: Knowledge, sensitivity, skills, and values (5th ed.), Allyn & Bacon, Boston. Schullery, NM, Ickes, L, Schullery, S 2009, Employer preferences for resumes and cover letters, Business Communication Quarterly, vol. 72, no. 2,  pp. 163-176. Stewart, J, and Knowles, V 2000, Graduate recruitment and selection practices in small businesses, Career Development International, vol. 5, no. 1, pp.21 – 38. Wheeler, AR, Gallagher, VC, Brouer, RL, and Sablynski, CJ 2007, When person-organization (mis)fit and (dis)satisfaction lead to turnover: The moderating role of perceived job mobility, Journal of Managerial Psychology, vol. 22, no. 2, pp.203 – 219. Read More