Training plan for employees
Recruitment, selection, training and evaluating employees Section A I have been hired by Laurent Bank of Canada, as a consultant to assist in hiring employees for the Commercial Banking Branch located In Montreal, Quebec. Laurent Bank Is a Quebec regional bank that has been In operation since 1846 and their head office Is located In downtown Montreal. The bank offers retail and commercial financial services. I will be consulting for the hilling of employees working at a new commercial branch located next to Concordia University, in Montreal.
These employees will be working as Commercial Account Managers in the banking industry. The Laurent Bank Commercial Banking sector offers different types of loans for small business owners such as Credit Lines, Term Loans and Business VISAS. The Bank makes a profit by collecting the interest they have charged on each of their loans. The Bank is looking to hire 3 employees who have had previous experience working in the banking Industry as well as an educational background in Finance or Accounting, preferably at a University level (I. E. Bachelor’s Degree).
The newly hired employees will be responsible for managing a portfolio of existing business clients. They will also be required to bring In new clients to the Bank. Section B I will conduct the following job analysis to obtain Information on the skills, knowledge and ablest required for the Job: Identify and Isolate the component tasks Involved Examine how the tasks are performed Identify the main areas of responsibility Identify the working conditions I will use the 3 following methods to gather data from existing employees or sources to conduct my Job analysis: 1 .
Interviewing existing Account Managers: I would meet with a few current employees working in Commercial Banking and ask them specific questions about their Job. 2. Perform an online search: I would search inline on Commercial Account Managers in order to gain knowledge on the field and specific requirements. 3. I would obtain access to the weekly activity logs: All Account Managers are required to submit a weekly actively log to their superiors. This log contains detailed Information on the work that was done during the week.
Job Description: The Account Manager is responsible for structuring credits and addressing perceived risk. This includes completing necessary due diligence, establishing pricing and terms of credit, and also producing ongoing credit reviews and risk ratings that fleet knowledge of Bank policies and procedures. With respect to business development The Account Manager continually develops and broadens relationships with existing customers by cross-selling relevant and value added financial products and services. It is also a priority to build new relationships through referrals from customers and other sources.
Section C I will recruit prospective employees by posting the Job description on Social Networking sites such as Linked and Faceable. I will also use job search websites also post the available position in the careers section of the corporate website of Laurent Bank. Social Networking sites are good way to attract Job seekers since almost everyone use Linked and Faceable. The majority of the population is using a smart phone nowadays with these applications already installed. Faceable would help me do a background check on applicants by having access to their network of friends, activities and hobbies.
It would not, however give me much information on their education, skills or work experience. Linked is a more useful application for recruiters because its main use is to connect professionals through their work experience. Linked is an excellent calibration tool to help me assess the depth of the potential talent pool. The following 3 selections techniques will be used: I will compare the credentials from each candidate’s profile or posted resume; I will personally message those who I have selected and inform them on my decision to pursue an interview; I will also perform background reference checks on the candidates.
Comparing profiles between candidates will enable me to narrow down my search; however there is the possibility that I choose one candidate over another strictly based on the presentation of their online profile or resume. Sending a personal message to chosen candidates is good ways of letting the applicant know that we are interested. However, this method can also backfire when the applicant refuses to respond to the message in a timely manner, resulting in wastage of time. Background checks are always a good source for gaining insight on the applicant’s past work experience.
However, it is important to make sure you are speaking with the right person. It is not always easy to contact a candidate’s previous boss due to availability. Old Boss’ are not always eager to take the time out and speak about a past employee. Section D Once hired, the employees’ performance will be evaluated on a weekly basis. The Mentor or personal in charge of training the employee will be required to fill out a performance form. The form will contain several sections about the different tasks required for the role of an Account Manager.
The Mentor will grade each section with the following: A (achieved), F (failed), AN (non-applicable) and IP (in progress). This weekly evaluation will serve as an indicator of the employee’s progress. It will also clearly indicate the areas where the employee needs improvement. The following training methods will be used: 1 . Job Shadowing with an existing Account Manager. This will enable the new employee to gain insight on the day-to-day activities of an account manager. It will also give the employee to ask questions on specific tasks.
However, it can slow down the efficiency of Account Managers if they spend too much time answering questions. 2. Helping Account Managers with their portfolios. This will be both beneficial to the new and existing employees. New employees will gain experience by analyzing credit applications and financial statements. While the existing Account Manager will have more time work on other tasks and duties. However, the work submitted by the new employees will have to be revised by the Account Manager before submission. Section E The following 3 training programs will be used: 1 .
Moody Analytics Account Manager. New employees will be required to complete the Commercial Lending program that involves online lessons on the specific skills needed for this role. Financial statement analysis, risk management and business development are the three topics covered in the lessons. After every lesson, employees are required to complete an examination testing their skills learned. The scores from these exams ill be sent directly to the Mentor. This will teach the employee on the three most important skills needed for an Account Manager.
However, employees must be trusted to not consult other employees when answering the exam questions. 2. Financial Statement Analysis New employees will be given financial statements from new and existing clients to analyze. They will be required to calculate key ratios in order to determine the performance of the company in the current and past year. Financial statement analysis is a skill that must be mastered in order to be a successful Account Manager ND this is a good way to practice. The employee, however, might feel discouraged at first since all financial statements are different and can be very confusing at first. . Case Discussion New employees will be given the opportunity to discuss the risk associated with lending to the clients they have analyzed through financial statement analysis and job shadowing with an Account Manager. This will give a chance to new employees to express themselves and share their ideas. Some new employees, however, might feel too intimidated or shy to fully express their opinion. PART 2: Company Culture Section F I will advise leaders to help employees reach personal and organizational goals by pointing out the paths they should follow and by providing them with the means to do so.
They would need to show concern and support for subordinates. The leader should use a transactional leadership style, where they can clearly identify the needs of their followers and give rewards in exchange for performance. They can set goals and expectations, reward effort and provide feedback. Section G Commercial Account Managers often work out of the office, visiting clients, checking out loan applications, and soliciting new business. Account Managers may be required to travel if a client is out of town, or to work evenings if that is the only time at which a client can meet.
Employees in this role have the flexibility to work from home as well. Normal business banking hours are Monday to Friday from mamma to pm. An Account Manager manages his/her portfolio; therefore they usually manage least 37. 5 hours per week. Employees will be eligible for 4 weeks of vacation annually, however weeks must be reserved in advance to avoid too much vacancy at once. The office will be well located in central downtown Montreal. This will give employees the opportunity to take public transportation instead of driving their vehicles. It will also enable Account Managers to easily penetrate the commercial market.
The office building will be connected to an underground metro station, which will facilitate travel during winter. All account managers will be provided with their own work space in the form of an open concept cubicle. This will encourage teamwork and also enable employees to interact with each other more frequently. There will be private rooms that can be reserved for client meetings. Upper Management will have private closed offices. There will also be a board room for meetings and presentations. The thermostat will be electronically adjusted to provide ideal temperatures for winter and summer.
The lighting will be sufficient for desk work and each workstation will have its own computer, printer and telephone. There will also be a cafeteria open to all employees with a fridge and microwave. This will encourage employees to interact during lunch hour. I would be aware of the following psychological and social concerns: Job Autonomy and Harassment. I would assess the degree of satisfaction an employee has with their current role because it will be reflected in their reference. If the employee is not fully satisfied, they will feel exhausted with their role and eventually would not care to perform.
This could eventually lead to the employee leaving their Job. Harassment is very serious and must be handled severely. Employees who face harassment might be too intimidated to report it. If it is not handled immediately, it can lead to serious lawsuits towards the organization. The policies on harassment will be clearly explained to all employees upon Joining the organization. Section H Stress in the workplace often coincides with the following behaviors in employees: rower productivity, reduced motivation, increased errors, and increased turnover.
The role of an Account Manager often results in the following stresses: Role Overload. Employees feel there are too many tasks in too short time period. I would attempt to minimize stress using the following 3 programs: Improve communication 0 Share information with employees to reduce uncertainty about their Jobs and futures. Clearly define employees’ roles and responsibilities. 0 Make communication friendly and efficient, not mean-spirited or petty. Consult Employees 0 Give workers opportunities to participate in decisions that affect their Jobs. Consult employees about scheduling and work rules. Be sure the workload is suitable to employees’ abilities and resources; avoid unrealistic deadlines. 0 Show that individual workers are valued. 0 Offer rewards and incentives. As Employee of the Month. 0 Provide opportunities for career development. 0 Promote an “entrepreneurial” work climate that gives employees more control over their work. Cultivate a friendly social climate 0 Provide opportunities for social interaction among employees. 0 Establish a zero- tolerance policy for harassment. 0 Make management actions consistent with organizational values.
