Factors Affecting Recruitment Process

The given assignment involves analyzing various sources to understand the importance of recruitment in job choice and the factors that influence it. It includes researching different stages of the job interview process and considering internal and external factors that affect recruitment. Additionally, it touches upon the role of a financial advisor and the importance of planning one's assessment for candidate selection.

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AUTHORS NAME
UNIVERSITY OF AFFILIATION

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Introduction
The process of recruitment and selection is among the significant elements of running established and startups
business. Employees with the right skills can help the organization attain its long-term and short-term goals.
Employees without the right skills can do harm to the business through creating a work environment that is
toxic and missing sales. Experts advise on the selection and employee recruitment are essential for any business
to meet its objectives and goals. The recruitment process is the ability of an organization to source out for new
employees, to keep the firm in operation and improving the human capital quality employed in the organization
("Recruitment and Selection - HRM Guide", 2016).The main aim of conducting a recruitment and a selection
process is so as to hire employees with the best talents from the market so as to keep the organization
competitive. The recruitment process is about managing the high volumes of resume jobs and the competencies
to select the right candidate for the organization.
Competitive human resource management usually starts with a recruitment process that is competitive in nature.
The firms together with its employees create a competitive advantage. The main goal of the recruitment process
is finding the best sources on the job market. The human resource recruiters have to fully utilize the managers
and the recruitment sources so as to make the right decision that is fast and effective.
Purpose
The purpose of this paper to find the right candidate for an organization that requires a skilled financial advisor
to fill their position. In order to find the right candidate, the recruitment process has to follow a certain sequence
of steps. First, the candidate has to be sourced using various methods so as to find the candidate with the perfect
skills for the job. Secondly, the recruitment team has to critically analyze the applications and review the
resumes. Lastly, an interview has to conduct to see if the candidate has met the required skills and qualify for
the job (Mayhew, 2011).

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Company background information
The Toronto Dominion bank operates as a North America bank. The bank is a financial service that operates
online having more than 5 million mobile and online customers. The banks have segments in which it conducts
its business. The segments comprise of the wholesale banking, retail banking, and corporate banking. The
wholesale banking offers a variety of capital markets corporate banking services, including the underwriting
and distribution of the new debt and equity providing advice on the strategic acquisitions and the divestitures
and meeting the client's needs (Editorial, 2011).
The wholesale banking a variety of capital markets, corporate banking products and services, government and
institutional clients in the various global financial center. This segment of the bank provides market access to its
retail operation and wealth and offers the banking solution to its customers and its partners. The capital markets
and the investment banking product line comprises of trading, underwriting advisory, and services execution.
The corporate banking product group comprises trade finance, cash management services, and the corporate
lending.
Financial advisor
A financial advisor is an employee who offers customers financial advice. They do take in account various
information comprising of the economic trends, clients comfortable with the risky decision and the regulatory
changes in determining the customer investment portfolio. They have the task of ensuring the client feel
comfortable.
Financial advisor to help the customer through assessing their financial needs and helping them with
investments and decision on insurance. They help the customer plan for their short-term and long-term goals
such as retirement and education expenses. After assessing the client needs the financial advisor with
recommending an investment that will match the objectives of the customer. They perform a task of investing
the client money based on the decisions of the client.

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Despite the fact that financial advisor does offer advice on various topics, some of them specialize in certain
areas such as risk management or retirement. They evaluate the willingness of the investor to take chances and
modify their investment accordingly. They will invest the consumer investment after which they will be
obtaining the customer regular report s on the status of the investment as well as the customer. The task of the
financial advisor includes monitoring the customer's investments and modifying the financial plan depending on
the customer circumstance changing or a change in the investment option ("Financial Advisor", 2016).
Financial advisor position at the Toronto Dominion Bank is to offer the customer a clear guideline on their
investment without having any malicious motive. They are guided by strict code of conduct that does not
provide any room for errors .The bank has employees who have licensed to purchase and sell bonds directly.
Based on the employment agreement with the clients, the financial advisor might have the permission from the
customer on making selling and buying decision of the bonds (Doyle, 2011).
Environmental context
Having a good track record of being an effective businessman is important to being financial advisor .It is of
great importance to find a financial advisor who is very independent and well respected in the industry (Wong,
2009).The financial advisor should have an understanding of the various dimensions of running a successful
business. Factors considered when recruiting financial advisor and how it will influence selection strategy.
Credentials
Financial advisor post requires various educational requirements.one has to pass various courses on different
topics including insurance investment, estate planning, financial planning and a comprehensive exam. A
certified financial planner who provided various financial planning services pledges to work with the client
interest above his own interest at all times (Greenwald, 2013).

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Services offered
Majority of the financial advisor do only offer investment advice. There is very few financial advisor who offers
comprehensive financial services. This comprises of all the management assets that are directly managed by the
planner or indirectly management by the planer. The comprehensive financial services would comprise of the
insurance, life estate, and cash flow planning (Greenwald, 2013).
Payment
There is no better way to pay for the financial advice. Planners can be paid based on various factors. The
significant thing is to understand the way the prospective planner charges and the budget the employee has
(Wong, 2009) .This will help in getting a clear picture of whether the employee will get the best services
Disciplinary history
The recruiter should liaise with the financial industry regulatory authority and other board to check the applicant
disciplinary history (Greenwald, 2013).
Recruitment and selection planning
The recruitment planning cannot be achieved without a strategic planning. Before any recruitment process, the
organization must implement a staffing plan that is proper and do a forecasting to determine the number of
people the organization requires.
Job vacancy and job description

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Job vacancy and job description
A thorough examination of the financial advisor position in relation to Toronto Dominion Bank. The
organization should summarize the need that the person will fill in helping the organization attain its long-term

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and short-term goals. The recruiter will request the organization how well does the financial advisor position fit
the organization future needs and other responsibility that can be added to the job. The recruiter will follow the
evaluation with a job description that is very detailed based the clear understanding of the organization business
needs that are growing (McKay, 2013).
Establishing selection criteria.
Recruitment criteria will help the recruiter to avoid instances of finding an employee who can be comfortable
with the organization culture instead of finding the applicants who have the right skills sets that are required
(Johnston, 2013).The recruitment plan should be explicit on finding the candidate who is successful. A clear list
of the job skills should be well laid out to avoid confusion during a time when there are two employees with
competing qualification. Selection criteria should be used as a guideline to help on focus on the needs of the
job.
Internal versus external search.
The vacant position can be announced to the employees of the organization before being announced to the
public. The job description and the job requirements should be published on the employee intranet. Having the
job open to the internal and external applicant will help in finding the best plan for the position.
Evaluation and testing
The recruiter should conduct competencies test for the candidates that the employer is serious about. The
organization requires employees who can get up to speed quickly. The recruiter should ensure that the test is
checked from time to time to ensure that it aligns us with the skills required for the job vacancy.
The interview process
The recruiter will set aside the list of all applicants who have met the requirements. The personnel responsible
for conducting the interview should be notified. Interviewer should agree on a certain candidate if they qualify
as compared to the rest.

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Job description
Financial advisor job title-Toronto Dominion Bank
Job summary
Toronto Dominion bank presents an opportunity to be part of the world fastest growing fiscal institution .The
organization is searching for an independent, well respected financial advisor to help the customer in managing
their investment strategies. Everyone who is looking for a challenging position is encouraged to apply.
Responsibilities and duties
 Provide financial planning support to customers.
 Guide and respond to the customer regarding their financial planning queries.
 Help in the company plans development.
 Support investment professional to cultivate the client relationships.
 Prepare financial plans and check for their accuracy.
Qualification
 Certified financial plan designation will be an added advantage ("Financial Advisor Job Description
Examples | Indeed.com", 2014).
 Postgraduate diploma in finance or insurance.
 3 years’ experience working with financial planning software.
 Poses strong communication skills.
 5 years’ experience working as a financial advisor before.
Job advertisement
Advertising has gradually evolved into an enormous communication medium. There are various mediums for
job advertisement. For this job, the recruitment department selected the local newspaper and the online job
board.

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Local newspaper
The job position requires an applicant who is local since the organization does not allow telecommuting for this
position. This was the best medium since the local paper charges less fee for advertisement of the jobs for the
local people. Its was a cost-saving scheme for the organization.
Online job board
There is numerous online job board. The advantage of using the online job board is that it made it easier to find
the right candidate since the jobs are classified based on the industry. This platform was the cheapest and it
could reach a larger audience.
HIRING FINANCIAL ADVISOR
Organisation:Toronto Dominion Bank
Level: Mid-level
Application deadline 6th march 2018
Job summary
Toronto Dominion bank presents an opportunity to be part of the world fastest growing fiscal
institution .The organization is searching for an independent, well respected financial advisor
to help the customer in managing their investment strategies (Doyle, 2011). Everyone who is
looking for a challenging position is encouraged to apply.
Responsibilities and duties
Provide financial planning support to customers

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Guide and respond to the customer regarding their financial planning queries
Help in the company plans development
Support investment professional to cultivate the client relationships
Prepare financial plans and check for their accuracy.
Qualification
Certified financial plan designation will be an added advantage.
Postgraduate diploma in finance or insurance
3 years’ experience working with financial planning software
Poses strong communication skills.
5 years’ experience working as a financial advisor before.
Log in to www.torontodomionbank.com to apply.
Budget
Medium vehicle Percentage within
medium
Monetary cost
newspaper Toronto local
magazine
$150 $50 per day
Online Online job board 100% Free

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Notice Internal 100% Free
Part 3
Assessment methods.
Financial advisor role requires strong communication skills, critical analysis of the problem and sharp mind.
After shortlisting the candidates who have qualified for the interview, all successful candidates will be given a
case to analyze and come up with a solution. The solution will be presented during the interview day to the
panel before the interview process. The aim of the presentation is to test the confidence level of the candidate,
his communication skill and ability to critically analyze the situation.
Tools
The following are the best tools that will help in selecting the right candidate for the job.
Athena assessment. This test evaluates the applicant judgment based on the notion that people who are effective
in their jobs have good judgment.
Then Berke assessment. It is a customized personality test measuring the intelligence of a candidate. The
recruiter can list all the behavioral traits that are desirable and compare the result of each candidate against the
other candidate (Bika, 2016).
After completion of various test and assessments, the panel will have recorded each candidate score at each
stage. The results will be compiled and remarks made by each person is present in the panel. The candidate with
the highest score will be awarded the job.

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Screening matrix
Resume screening matrix provides the objective method of comparing the candidates against the standards and
the candidates. This evaluation simplifies the process of selecting the candidate to consider for further .The
screening matrix provides a convenient means of spotting the trends among the applicants.
Application
Name
Experience Have a
required
degree
Strong
analytical
skills
Gender Reason for
applying
Work history
1
2
3
4
5

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Assessment matrix
Assessment Matrix ()
Applicant
name
Demonstra
tion/
qualificatio
n
Verbal/
written
Test
Portfolio of
work
Scenario/
case study
presentatio
n
Confidence
level
Score
Interview phases
Job interviews provide an platform for the candidate to sell themselves to the potential employers (McIntosh,
2013).Candidates should invest a lot of their time in preparing for the interview and having a clear
understanding of the interview process. It is essential for the job applicant to understand the importance of each
phase of the interview and the requirement in making the best impression.
3 phases of the interview
Before the interview
 Once the recruiter has received the candidates CVS and made their selection, they are required to give
the candidate some days’ notice in order to prepare for the interview.

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 The recruiter should notify the candidates if they will be required to take the test and bring in their work
samples so that the candidate will appear during the interview day fully prepared.
 Inform the candidate about how long the process of the interview is going to take and the stages
involved in the interview.
During the interview
 The interview is stressing to a lot of people, the recruiter should try and relax their candidate .the
organization should ensure that all the employees are escorted to the interview room and given warm
welcome.
 People do tend to judge the first impression .the recruiter should avoid judging the first impression since
some candidates fail at giving the best first impression but end up performing well in the organization.
 Give a brief overview of the job before starting to interview the employee. The summary of the position
should incorporate the key responsibility, the key challenges the performance criteria and the reporting
structure.
 The recruiter should listen to the candidate in order to get a lot of information to differentiate between
the candidates and determine the skills of the candidate
 The recruiter should give the candidate time to ask for questions in case their candidate has questions
about the organization.
After the interview
 The recruiter should inform the candidate on the state of his application. If the candidate is the best fit
for the position, they should be informed of the next step forward. Suppose the candidate does not
qualify let them know as soon as possible.
 Compare recommendation from other interviewer and reach consensus .The post interview is the
duration for the interviewer to do notes comparison and reach a consensus. Each interviewer should give
their recommendation.

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Receive application
Explain process
Explain interview structure
Put candidate at ease
Don’t judge first impression
Listen
Invite candidate to ask question

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Interview questions
1. Why do you want to work with Toronto Dominion bank as a financial advisor?
2. Describe a scenario when you had to help a client make a difficult decision?
3. What are your career goals?
4. Are you comfortable meeting up with clients or talking to them on the phone?
5. How do you attain your goals?
6. What makes s you the best fit for this position?
7. How do you maintain the client loyalty?
Interview schedule
Applicant name Date time
1 4th march 2018 8.00 am
2 4th march 2018 9.00 am
3 4th march 2018 11.00 am
4 4th march 2018 12.00am

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5 4th march 2018 2.00 am
Summary
Recruitment and selection process plays a vital role in the organization success. Employees do leave
organization looking for greener pastures while others resign or retire. The most significant thing is that the
organization finds another manpower who are qualified and very skilled to fill the position. There is time when
the organization decided to create a new product that will help the organization venture into a new, market. This
will require manpower that is very skilled to ensure the new product doesn't fail but is well accepted in the
market by the consumer. Understanding recruitment simply, it means to understand the process of searching for
the right skills to fill a position from job applicants .Recruitment process is initiated when the organization has a
vacancy and therefore advertise for the position to be filled. The process is terminated at that time when the
right manpower has been selected from the many job applicants .Many organizations do have an internal human
resource department that deals with hiring and recruiting of the new staff. However, Toronto Dominion bank
lacks that department and that why they contracted a professional human resource to help them fill the position
in their organization.
The recruitment process has a lot of importance on the organization. First, the process helps in determining the
future and the present organization job requirement in conjunction with the manpower planning and the
activities of job analysis. Secondly, the process is significant in the increment of the organization success rate of
the process of selection because it reduces the number of applicants who are not qualified for the job. Thirdly,

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recruitment helps the organization in reducing the employee turnover rate after a short period of time. Lastly, it
helps in identifying the most competent job applicant who will the right candidate for the task at hand.
On the other hand, the recruitment process is hindered by a lot of factors. They are categorized into internal and
external factors. First the labor market condition, the demand of certain skill in the market greatly affect the
recruitment process, if the demand is too high, the supply of similar skill can be very low this will make the
recruitment process difficult. Secondly, the unemployment situation, this has a positive impact on the
recruitment process (Singh, 2014). When the need for certain skill is available in the market due to
unemployment, the recruitment process is simpler. The number of the job applicant is very high making it very
easy to find the right skill and the best-qualified individual for the job. Lastly, the organization reputation.
Organization reputation has a great impact on the recruitment process (Root, 2014). An organization that has a
good reputation attract potential and most skilled applicants. That is the reason why an organization with high
rated reputation do attract a large number of applicants.
Toronto Dominion Bank is an organization that is well known for its good reputation of handling its employees
well. The organization is among the top rated firms that protect the interest of the employee first before through
ensuring the employee demands are addressed and solved. Therefore the recruitment process will be very easier
as more individuals look forward to working with the bank.

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