The Policy of the Commonwealth Bank-Free-Samples for Students

Question: Choose one Organisation any Company. then have to do policy assignment, also mention existing policy of the Organisation. please select requirement and selection among three option. Answer: Background The Commonwealth Bank of Australia is the multinational bank with their businesses in all over New Zealand, United Kingdom and Australia that is commonly referred to as CBA (Commbank.com.au, 2017). It helps in providing different financial services such as retail as well as institutional businesses and other broking services. The Commonwealth Bank was established by Catherine Livingstone in the month of 22nd December in the year 1911. Commonwealth Bank is actively involved in broking as well as listed in the stock exchange of Australia as well. The entire privatization was done in the year 1996 by the government of Australia as well. The essential actions of the Commonwealth Bank is to provide different their clients different services such as individual banking that includes debit and credit cards, wealth management and insurance. The different kinds of loans are provided by the respective bank to the customers such as loans for establishing business and other home loans as well. Su ch activities help them in being different from others in the crowd and make the knowledgeable individuals a part of the organization as well. This policy was prepared in order to reduce along with stop acquiring employees who do not have such adequate knowledge required to be employed in Commonwealth Bank Australia. Furthermore, Commonwealth Bank is an international level company, the employees in the organization has to be focused as well as talented in the respective jobs. The proper legislations have to be followed by the Commonwealth Bank while properly appointing employees in the organization and providing them with training as well. There should not be any kind of discrimination along with biasness for any employees who are employees in Commonwealth Bank. For instance- Proper training is essential in nature as this will help in providing the employees, then this can lead to different difficulties while managing different accounts of the customers in the bank. The induction program is essential in nature as this will help in attending the customers. After recruiting candidates, proper induction program has to be estab lished as this will help in selecting the individuals on such basis as that will help the organization to achieve goals. Purpose Commonwealth Bank of Australia helps all the individuals who are need in of any kind of loan or other financial services that can be provided to the individuals at a minimal rate than the other banks or financial institutions in Australia. It actively participates in different kinds of activities that actively participate in providing the customers the ideas of the different financial benefits or other individual benefits that can be provided to the customers. This includes other complementary services to the individuals who are presently or previously worked with Commonwealth Bank in Australia. The policy regarding the anti money laundering 2016-2017, Customer grievance redressal mechanism policies, along with collection of cheque policy are the ones that are properly implemented by the respective bank. The compensation policy has to be properly implemented as well as this will help the bank and the customers a proper view about the different policies as well as legislations. Lastly , the main purpose of following the different acts is to properly increase the well managed team with proper organizational structure and it has to be properly kept in view by the bank that it is in benefit of the customers as well (Jackson, SSchuler and Jiang 2014). Scope The policy of the Commonwealth Bank is applied to different staffs, selection and recruitment team as well as the different probationary staffs and clerks of the company. Furthermore, applicants, staffs as well as the clerks of the Commonwealth Bank are allowed to know the different development as well as training techniques that will be offered by the respective bank (Azmi and Mushtaq 2015). On the other hand, the higher officials or the managerial post employees need to follow different steps from the policy for proper recruitment of the different employees and there should not be any kind of biasness in the process of recruitment as well. Policy Proclamation The employees of the organization are the most valuable part of the Bank, wherein Commonwealth Bank has a proper selection and recruitment committee who has the total responsibility of appointing of the different staffs on the basis of the skills, experience along with proper abilities. Proper equity along with transparency is essential in with the applicants wherein there will be no biasness when appointing different individuals for different posts in the organization. The personal relationship should not be involved as this will increase the conflict of interest among the employees (Brewster, Mayrhofer and Morley 2016). Commonwealth Bank of Australia has various principles regarding the recruitment as well as selection of the staffs: All the applicants has to be treated equally even when the individuals or applicants are not from different state or culture The employees of the respective bank are selected on the basis of the potential abilities along with merits of the candidates who will meet the requirements of the organization (Budhwar and Debrah 2013) The employees of the Commonwealth Bank will be properly supported as well as supervised in the induction program In the induction program, proper training is provided in regards with the different legislations and rules such as compensation act, handling grievances of the individuals or the customers are mainly taught to the applicants who will be the future permanent employees of the respective bank The proper process of appointment is followed by the bank as the employees are selected on the basis of the recruitment as well as selection procedure Lastly, it is mandatory to be seen that there is proper training program that has been conducted for all the staffs in the organization with motivation and providing them job security as well (Storey 2014). Clash of interest There should not be any kind of appointment in the Commonwealth Bank of different employees who are having blood relationship or close relationship with the existing employees of the respective organization. This may give rise to conflict of interest in the future as well. This kind of conflict arises in the organization when there is a role of decision making role as there can be rise of biasness in the organization and this will have bad effect on the organization as well. The decision making can give rise to conflict that is pecuniary in nature that can lead to financial loss or gain among the staffs or the members of the organization. The conflict in the interest among the staff of the respective bank can create negative impact on the employees of the organization as well. The decisions have to be disclosed in front of the public or else there can be failure to disclose such decision that can be corrupt in nature. Confidentiality The information of the different applicants has to be properly utilized in a distinguished manner and the information has to be properly stored in the database of the selection and recruitment committee members (Lengnick-Hall, Lengnick-Hall and Rigsbee 2013). The information that has been collected from the different applicants is used for completing the entire recruitment and selection process for the different positions that are advertised only. There are different information that are disclosed of the different applicants in public will be regarded as fraud that may affect the reputation of the organization and this can affect the personal life of the individuals as well. The data of the applicants has to be properly secured under different circumstances under the Data Protection Act 1998. Definitions Recruitment is a process that is utilized by various companies as to attract qualified candidates with proper knowledge level along with different potential skills. The purpose is to find number of applicants as well as choosing candidates who will fit best in the company for the desired post (Chelladurai and Kerwin 2017). Selection is the technique of selection of the right candidate after process of recruitment who has met the different requirements of the bank. The process is conducted through the potentiality along with reference check and training of the employee. This will help in appointing the best staff without any kind of personal biasness (Marler and Fisher 2013). Induction is the process that is conducted on welcoming the different employees in the organization and supporting them with proper training along with orientation program as the new work can be stressful in nature. Recruitment and selection manager is the one who is responsible for appointing the potential candidates for the different posts such as clerks, probationary officers along with removing staffs due to the low performance in the continuous period of time (Marchington et al. 2016). Related Policies Prevention of money laundering Act 2005 Proper equality of employees Act Commonwealth Bank codes of conduct Act Policy on the collection of dues Workforce Grievances and Complaints Act Fair Work Act Data protection Act Particulars OF Policy Recruitment as well as Selection Policy Commonwealth Bank works and operates with proper motive of the providing different loans along with creating and balancing the economy. Commonwealth Bank is one of the largest international banks wherein authority of the decision making is decentralized in nature (Kramar 2014). The recruitment and selection manager are the ones who are generally responsible for hiring different candidates and the selection team individuals helps in preparing specification of job as well as perform analysis of the job. The different steps are to be followed in the process of hiring individuals are as follows: Identifying the vacancy in job and requirements of organization wherein the hiring managers will follow the objectives that are strategic in nature along with mission of the appointment of the new staff. By properly measuring the performance of various employees along with the committee it will help in finding new staffs in different department of human resource and it will help them in announcing job vacancy as well (Sparrow, Brewster and Chung 2016). Preparation of specification of job helps in describing the skills as well as inherent abilities that are required by individuals who will fit in the organization. The personal characteristics as well as past experience of the candidates are taken into consideration for fitting them into the organization Proper selection of search committee wherein hiring manager will acquire correct individuals and minimize personal biasness when they are selecting employees and Commonwealth Bank announces vacancy of job in various techniques such as by online application as the individuals can apply from different parts of the world and they announce it with help of social media as well in order to get more qualified candidates by providing them job description as well as finalizing the date for joining of employees (Armstrong and Taylor 2014). Proper analysis is required and conducting interview is essential in nature as this will help the applicants in meeting the minimum standards for filling the vacancy of the job. The applicants who are selected halve to be properly emailed about the schedule of interview timings. The different tests have to be applied as this will help in getting right candidate. The different tests will help in gaining proper candidate and potential candidates and this will be further analyzed by checking reference list as well as the past experience. Lastly, the final step includes selection of best candidate for Commonwealth Bank Australia. Proper training as well as orientation has to be provided to employees by welcoming in friendly manner and introducing them to employees in the organization. Procedure for handling grievances Commonwealth Bank works with proper coordination as well as communication in order to properly increase the effectiveness of the policy as this will help in increasing the efficiency of the employees as well. However, there can be different misunderstandings in the organization due to conflict in the interest of the employees in the organization. When the employees of the organization are facing any kind of mistreatment, then they can complain against the employee to the line managers. Firstly, explain the mistreatment that has been occurred verbally and the parties who were involved Line managers will report the matter to the Human resource manager of the company and the process of investigation starts TH investigation includes investigating complainants, witness and the different other parties who were involved Proper notes are made by the managers by continuous monitoring as well as conducting review and develop proper references There are different cases wherein the complaints are solved with help of HR manager, however if the HR manager cannot jump into a conclusion then the grievance is transferred to CEO of the company and this will help in resolving the matter Accountabilities The Human Resource manager with the coordination of the different managers and the CEO will prepare proper policy for recruitment and selection for the Commonwealth bank. The entire establishment of the policy is to ensure that all employees who are in the bank are responsible for performing their duties as well as responsibilities. The higher level employees and the subordinates are within the policy and the HR and line managers are entirely responsible for the effectiveness of the policy in the bank. References Armstrong, M. and Taylor, S., 2014.Armstrong's handbook of human resource management practice. Kogan Page Publishers. Azmi, F.T. and Mushtaq, S., 2015. Role of line managers in human resource management: empirical evidence from India.The International Journal of Human Resource Management,26(5), pp.616-639. Beardwell, J. and Thompson, A., 2014.Human resource management: a contemporary approach. Pearson Education. (Beardwell and Thompson 2014) Brewster, C. and Hegewisch, A. eds., 2017.Policy and Practice in European Human Resource Management: The Price Waterhouse Cranfield Survey. Taylor Francis. 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