Impact of Recruitment Strategies on Employee Retention - Eltizam, UAE
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This report examines the impact of recruitment strategies on employee retention at Eltizam Asset Management Group in the UAE. The study investigates the recruitment and retention practices, including an overview of the company, its recruitment and retention strategies, and the challenges faced. The research employs a positivism research philosophy with a quantitative approach, utilizing surveys to collect data. The analysis covers demographic profiles of employees, the effectiveness of various recruitment and retention strategies, and correlation studies to identify relationships between different factors. The findings are presented through tables and figures, followed by hypothesis testing and interpretation of results. The report concludes with recommendations for improving recruitment and retention practices, addressing gender and age differences, and suggesting areas for future research. The study provides valuable insights for HR managers and professionals seeking to enhance their recruitment and retention strategies within the asset management industry.
Impact of recruitment strategies on employee retention - An overview of Eltizam Asset
Management Group, UAE
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Management Group, UAE
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Table of Contents
Chapter One :Introduction...............................................................................................................6
1.1 Background of the research study..............................................................................................6
1.2 Research Problem......................................................................................................................6
1.3 Research Aim.............................................................................................................................7
1.4 Research Objectives...................................................................................................................7
1.5 Research Questions....................................................................................................................8
1.6 Research Hypothesis..................................................................................................................8
1.7 Significance of the study...........................................................................................................8
Chapter Two : Literature Review....................................................................................................9
2.1 Introduction................................................................................................................................9
2.2 Definition of Recruitment and Selection...................................................................................9
2.3 Definition of Recruitment........................................................................................................10
2.4 Background of Eltizam Asset Management Group.................................................................10
2. 5 Recruitment strategies employed by Eltizam Asset Management Group..............................11
2.6 Retention strategies employed by Eltizam Asset Management Group...................................12
2.7 Conceptual framework.............................................................................................................14
2.8 Conclusion...............................................................................................................................16
Chapter Three: Research Methodology.........................................................................................17
3.1 Research Philosophy................................................................................................................17
3.2 Justification for using Positivism research philosophy...........................................................17
3.3 Research Approach..................................................................................................................17
3.5 Research Purpose.....................................................................................................................18
3.7 Research Strategy....................................................................................................................18
3.9 Data Collection........................................................................................................................18
3.10 Sample Selection- Population and Sample size.....................................................................19
3.11 Data Analysis.........................................................................................................................19
3.12 Limitations.............................................................................................................................19
3.13 Ethical Considerations...........................................................................................................19
Chapter Four: Results, Analysis and Discussion...........................................................................21
Chapter One :Introduction...............................................................................................................6
1.1 Background of the research study..............................................................................................6
1.2 Research Problem......................................................................................................................6
1.3 Research Aim.............................................................................................................................7
1.4 Research Objectives...................................................................................................................7
1.5 Research Questions....................................................................................................................8
1.6 Research Hypothesis..................................................................................................................8
1.7 Significance of the study...........................................................................................................8
Chapter Two : Literature Review....................................................................................................9
2.1 Introduction................................................................................................................................9
2.2 Definition of Recruitment and Selection...................................................................................9
2.3 Definition of Recruitment........................................................................................................10
2.4 Background of Eltizam Asset Management Group.................................................................10
2. 5 Recruitment strategies employed by Eltizam Asset Management Group..............................11
2.6 Retention strategies employed by Eltizam Asset Management Group...................................12
2.7 Conceptual framework.............................................................................................................14
2.8 Conclusion...............................................................................................................................16
Chapter Three: Research Methodology.........................................................................................17
3.1 Research Philosophy................................................................................................................17
3.2 Justification for using Positivism research philosophy...........................................................17
3.3 Research Approach..................................................................................................................17
3.5 Research Purpose.....................................................................................................................18
3.7 Research Strategy....................................................................................................................18
3.9 Data Collection........................................................................................................................18
3.10 Sample Selection- Population and Sample size.....................................................................19
3.11 Data Analysis.........................................................................................................................19
3.12 Limitations.............................................................................................................................19
3.13 Ethical Considerations...........................................................................................................19
Chapter Four: Results, Analysis and Discussion...........................................................................21
4.1 Introduction..............................................................................................................................21
4.2 Demographic profile of the Employees...................................................................................21
4.3 Recruitment strategies employed by Eltizam Group...............................................................22
4.4 Retention strategies employed by Eltizam Group...................................................................31
4.5 Correlation studies...................................................................................................................40
4.6 Testing of Hypothesis..............................................................................................................43
4.7 Interpretation of Results and Analysis.....................................................................................45
Chapter 5: Conclusion, Recommendation and Future Work.........................................................46
5.1 Conclusion...............................................................................................................................46
5.2 Recommendations....................................................................................................................47
Improving employee recruitment..............................................................................................47
Improving employee retention...................................................................................................48
References and Bibliography.........................................................................................................50
Appendix........................................................................................................................................54
4.2 Demographic profile of the Employees...................................................................................21
4.3 Recruitment strategies employed by Eltizam Group...............................................................22
4.4 Retention strategies employed by Eltizam Group...................................................................31
4.5 Correlation studies...................................................................................................................40
4.6 Testing of Hypothesis..............................................................................................................43
4.7 Interpretation of Results and Analysis.....................................................................................45
Chapter 5: Conclusion, Recommendation and Future Work.........................................................46
5.1 Conclusion...............................................................................................................................46
5.2 Recommendations....................................................................................................................47
Improving employee recruitment..............................................................................................47
Improving employee retention...................................................................................................48
References and Bibliography.........................................................................................................50
Appendix........................................................................................................................................54
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Table of Tables
Table 1: Gender.............................................................................................................................20
Table 2: Age Group.......................................................................................................................20
Table 3: What is the most important technique used by your organization to recruit new
employees?....................................................................................................................................21
Table 4: Do you provide Stipend programs to new recruits..........................................................22
Table 5: Do you provide Internships and Liaisons to new recruits...............................................23
Table 6: Does the organization clearly define the position objectives, requirements and candidate
specifications in the recruitment process?.....................................................................................24
Table 7: To what extent do/did you feel that Salary Package of business impact the ability to
recruit staff?...................................................................................................................................25
Table 8: To what extent do/did you feel that the type of business impact’s the organizations
ability to recruit staff?....................................................................................................................26
Table 9: Does the psychological aspects of the candidate influence the recruitment process?.....27
Table 10 : Performance Bonus Structure is essential....................................................................28
Table 11 : Structured Path advancement.......................................................................................29
Table 12: Employee involved in decision related to business.......................................................30
Table 13: Salary Package’s impact to retain staff.........................................................................31
Table 14 : Type of business impact’s to retain staff......................................................................32
Table 15 : Job responsibility influence to retain employees..........................................................33
Table 16 : Job training, coaching influence in retention of employees.........................................34
Table 17 : Zeal to work prevents frequent staff resignation and promotes organizational
performance...................................................................................................................................35
Table 18 : Organizational commitment prevents frequent staff resignation.................................36
Table 19 : Performance Bonus Structure.......................................................................................37
Table 20 : Communication with Superiors....................................................................................38
Table 21: Correlation amongst recruitment strategies...................................................................40
Table 22: Correlation amongst retention strategies.......................................................................41
Table 23: Independent Sample t-test.............................................................................................42
Table 24: ANOVA: Recruitment...................................................................................................42
Table 25: Independent sample t-test..............................................................................................43
Table 26: ANOVA – Retention.....................................................................................................44
Table 1: Gender.............................................................................................................................20
Table 2: Age Group.......................................................................................................................20
Table 3: What is the most important technique used by your organization to recruit new
employees?....................................................................................................................................21
Table 4: Do you provide Stipend programs to new recruits..........................................................22
Table 5: Do you provide Internships and Liaisons to new recruits...............................................23
Table 6: Does the organization clearly define the position objectives, requirements and candidate
specifications in the recruitment process?.....................................................................................24
Table 7: To what extent do/did you feel that Salary Package of business impact the ability to
recruit staff?...................................................................................................................................25
Table 8: To what extent do/did you feel that the type of business impact’s the organizations
ability to recruit staff?....................................................................................................................26
Table 9: Does the psychological aspects of the candidate influence the recruitment process?.....27
Table 10 : Performance Bonus Structure is essential....................................................................28
Table 11 : Structured Path advancement.......................................................................................29
Table 12: Employee involved in decision related to business.......................................................30
Table 13: Salary Package’s impact to retain staff.........................................................................31
Table 14 : Type of business impact’s to retain staff......................................................................32
Table 15 : Job responsibility influence to retain employees..........................................................33
Table 16 : Job training, coaching influence in retention of employees.........................................34
Table 17 : Zeal to work prevents frequent staff resignation and promotes organizational
performance...................................................................................................................................35
Table 18 : Organizational commitment prevents frequent staff resignation.................................36
Table 19 : Performance Bonus Structure.......................................................................................37
Table 20 : Communication with Superiors....................................................................................38
Table 21: Correlation amongst recruitment strategies...................................................................40
Table 22: Correlation amongst retention strategies.......................................................................41
Table 23: Independent Sample t-test.............................................................................................42
Table 24: ANOVA: Recruitment...................................................................................................42
Table 25: Independent sample t-test..............................................................................................43
Table 26: ANOVA – Retention.....................................................................................................44
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Table of Figures
Figure 1: Conceptual Framework to test recruitment strategies....................................................13
Figure 2 : Conceptual framework to test retention strategies........................................................14
Figure 3: Demographic profile of Employees...............................................................................21
Figure 4: The most important technique used by Eltizam to recruit new employees....................22
Figure 5: Provides Stipend to new recruits....................................................................................23
Figure 6: Provides Internships and Liaisons..................................................................................24
Figure 7: The organization defines the requirements to candidates..............................................25
Figure 8: Salary Package’s impact to recruit new staff.................................................................26
Figure 9: Type of business’s impact to recruit new staff...............................................................27
Figure 10: Influence of psychological aspect of the candidate in recruitment..............................28
Figure 11 : Performance Bonus Structure is essential...................................................................29
Figure 12 : Structured Path towards advancement........................................................................30
Figure 13: Employee involved in decision related to business......................................................31
Figure 14 : Salary Package’s impact to retain staff.......................................................................32
Figure 15 : Type of business impact’s to retain staff.....................................................................33
Figure 16 : Job responsibility influence to retain employees........................................................34
Figure 17 : Job training, coaching influence in retention of employees........................................35
Figure 18 : Zeal to work prevents frequent staff resignation and promotes organizational
performance...................................................................................................................................36
Figure 19 : Organizational commitment prevents frequent staff...................................................37
Figure 20 : Performance bonus Structure......................................................................................38
Figure 21 : Communication with Superiors...................................................................................39
Figure 1: Conceptual Framework to test recruitment strategies....................................................13
Figure 2 : Conceptual framework to test retention strategies........................................................14
Figure 3: Demographic profile of Employees...............................................................................21
Figure 4: The most important technique used by Eltizam to recruit new employees....................22
Figure 5: Provides Stipend to new recruits....................................................................................23
Figure 6: Provides Internships and Liaisons..................................................................................24
Figure 7: The organization defines the requirements to candidates..............................................25
Figure 8: Salary Package’s impact to recruit new staff.................................................................26
Figure 9: Type of business’s impact to recruit new staff...............................................................27
Figure 10: Influence of psychological aspect of the candidate in recruitment..............................28
Figure 11 : Performance Bonus Structure is essential...................................................................29
Figure 12 : Structured Path towards advancement........................................................................30
Figure 13: Employee involved in decision related to business......................................................31
Figure 14 : Salary Package’s impact to retain staff.......................................................................32
Figure 15 : Type of business impact’s to retain staff.....................................................................33
Figure 16 : Job responsibility influence to retain employees........................................................34
Figure 17 : Job training, coaching influence in retention of employees........................................35
Figure 18 : Zeal to work prevents frequent staff resignation and promotes organizational
performance...................................................................................................................................36
Figure 19 : Organizational commitment prevents frequent staff...................................................37
Figure 20 : Performance bonus Structure......................................................................................38
Figure 21 : Communication with Superiors...................................................................................39
Chapter One :Introduction
1.1 Background of the research study
The successful adoption of recruitment as well as retention of employees has proved to be
most integral part of Eltizam Asset Management Group (Eltizam.ae 2017). In addition,
recruitment and selection for asset management group have proved to be core human resource
planning activity and vital part of overall strategic plan. Furthermore, the complexity of the
human resource planning process widely varies upon size of the organization as well as
perception and status of the human resource function within Eltizam Asset Management Group.
Therefore, Eltizam Asset Management Group has Human Resources as a core function used in
their operations for managing the manpower in an effective way (Al Ariss, Cascio and Paauwe
2014).
The research study had been conducted by the researcher by focusing on UAE-based
Company and the name of the company is Eltizam Asset Management Group (Eltizam.ae 2017).
This particular company is a dynamic, motivated as well as proficient asset management
company that aims at delivering integrated services in an effective way that gives potential
clients a new definition to asset management activities. This company employs exceptional
people who have the zeal and confidence towards working in a competitive environment. This
company is setting new benchmarks as well as standards to become leading authority in asset
management in Middle East region. The company strives to provide highest quality of services to
the potential clients based on international standards. The human resources and staff members
working at Eltizam Asset Management Group are passionate about their work and at the same
time encourage each other to achieve more in the near future and be recognized and awarded.
The company takes the ownership as well as accountability for all the actions. The company
ensures transparency as well as sustaining trust level by delivering services on time and keeping
the promise. The company even expects high levels of ethics as well as professionalism and
treats each employee equally (Armstrong and Taylor 2014). The company believes in constantly
monitoring trends by putting emphasis upon innovation as well as adaptability towards change.
The company seeks opportunities to add value to the business enterprise in the most appropriate
way. They are open to new ideas as well as believe in continuously learning from each other.
The employees working in the company are committed to the core values as well as becoming
loyal to the business enterprise. The employees working at this company are proud to represent
themselves at true asset to the business enterprise (Al-Emadi, Schwabenland and Wei 2015).
1.2 Research Problem
The problem identified in the present research study is recruiting new candidates and
even retention of existing employees at Eltizam Asset Management Group (Eltizam.ae 2017). It
1.1 Background of the research study
The successful adoption of recruitment as well as retention of employees has proved to be
most integral part of Eltizam Asset Management Group (Eltizam.ae 2017). In addition,
recruitment and selection for asset management group have proved to be core human resource
planning activity and vital part of overall strategic plan. Furthermore, the complexity of the
human resource planning process widely varies upon size of the organization as well as
perception and status of the human resource function within Eltizam Asset Management Group.
Therefore, Eltizam Asset Management Group has Human Resources as a core function used in
their operations for managing the manpower in an effective way (Al Ariss, Cascio and Paauwe
2014).
The research study had been conducted by the researcher by focusing on UAE-based
Company and the name of the company is Eltizam Asset Management Group (Eltizam.ae 2017).
This particular company is a dynamic, motivated as well as proficient asset management
company that aims at delivering integrated services in an effective way that gives potential
clients a new definition to asset management activities. This company employs exceptional
people who have the zeal and confidence towards working in a competitive environment. This
company is setting new benchmarks as well as standards to become leading authority in asset
management in Middle East region. The company strives to provide highest quality of services to
the potential clients based on international standards. The human resources and staff members
working at Eltizam Asset Management Group are passionate about their work and at the same
time encourage each other to achieve more in the near future and be recognized and awarded.
The company takes the ownership as well as accountability for all the actions. The company
ensures transparency as well as sustaining trust level by delivering services on time and keeping
the promise. The company even expects high levels of ethics as well as professionalism and
treats each employee equally (Armstrong and Taylor 2014). The company believes in constantly
monitoring trends by putting emphasis upon innovation as well as adaptability towards change.
The company seeks opportunities to add value to the business enterprise in the most appropriate
way. They are open to new ideas as well as believe in continuously learning from each other.
The employees working in the company are committed to the core values as well as becoming
loyal to the business enterprise. The employees working at this company are proud to represent
themselves at true asset to the business enterprise (Al-Emadi, Schwabenland and Wei 2015).
1.2 Research Problem
The problem identified in the present research study is recruiting new candidates and
even retention of existing employees at Eltizam Asset Management Group (Eltizam.ae 2017). It
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is difficult to recruit potential candidates every time in a company because any wrong hire can
lead to hamper the level of productivity in that particular job field. Recruiting costs are higher so
it is a great responsibility for the HR department to recruit deserving candidates for the job.
Retaining employees does not mean hiring an employee who is going to stay in the same position
until he or she retires. Recruiter faces difficulty in balancing speed and quality. These recruiters
face biggest challenge in balancing speed of hire with quality of hire. Even after recruitment, it is
very difficult to retain existing employees for longer duration of time frame. The recruitment
strategy adopted by the company should be new and outdated. In order to work in this
competitive environment, recruiters needs to ensure that they are using latest and updated
recruitment strategy to ensure that the new strategy will help in producing superior results
(Bamberger, Biron and Meshoulam 2014). With the advancement of technology and shift in
culture, it is noted that there is huge changes present in the current recruitment world. Recruiters
face new challenges because of digital landscape, restless workforce.
Recruitment and retention of employees is not an easy task and for this reason,
companies hire recruiters as well as human resource departments. In addition, the HR
Department of a company faces various challenges in recruiting new employee. The ability of
business to overcome the challenges depends upon various factors that include economy as well
as competence and commitment of the recruiter. Hiring a new candidate is time taking process
(Benitez-Amado, Llorens-Montes and Fernandez-Perez 2015). The issue faced by recruiter is
regarding quality of candidates that prevails in this changing working economy. There is an
emergence of technologies as well as awareness of global economics and increased educational
requirements that are in high demand.
1.3 Research Aim
The main aim of the research study is to investigate on “Impact of recruitment strategies
on employee retention - An overview of Eltizam Asset Management Group, UAE” (Eltizam.ae
2017). The study investigates as well as improves on the method for the recruitment and
retention of employees at Eltizam Asset Management Group. The research study at the end draw
conclusions that will help HR managers of Eltizam Asset Management Group to retain the
existing employees and recruit talented and potential candidates by using effective strategies.
1.4 Research Objectives
To find out any gender difference in recruitment strategies as followed by Eltizam Asset
Management Group (Eltizam.ae 2017)
To highlight any gender difference in retention strategies as followed by Eltizam Asset
Management Group
lead to hamper the level of productivity in that particular job field. Recruiting costs are higher so
it is a great responsibility for the HR department to recruit deserving candidates for the job.
Retaining employees does not mean hiring an employee who is going to stay in the same position
until he or she retires. Recruiter faces difficulty in balancing speed and quality. These recruiters
face biggest challenge in balancing speed of hire with quality of hire. Even after recruitment, it is
very difficult to retain existing employees for longer duration of time frame. The recruitment
strategy adopted by the company should be new and outdated. In order to work in this
competitive environment, recruiters needs to ensure that they are using latest and updated
recruitment strategy to ensure that the new strategy will help in producing superior results
(Bamberger, Biron and Meshoulam 2014). With the advancement of technology and shift in
culture, it is noted that there is huge changes present in the current recruitment world. Recruiters
face new challenges because of digital landscape, restless workforce.
Recruitment and retention of employees is not an easy task and for this reason,
companies hire recruiters as well as human resource departments. In addition, the HR
Department of a company faces various challenges in recruiting new employee. The ability of
business to overcome the challenges depends upon various factors that include economy as well
as competence and commitment of the recruiter. Hiring a new candidate is time taking process
(Benitez-Amado, Llorens-Montes and Fernandez-Perez 2015). The issue faced by recruiter is
regarding quality of candidates that prevails in this changing working economy. There is an
emergence of technologies as well as awareness of global economics and increased educational
requirements that are in high demand.
1.3 Research Aim
The main aim of the research study is to investigate on “Impact of recruitment strategies
on employee retention - An overview of Eltizam Asset Management Group, UAE” (Eltizam.ae
2017). The study investigates as well as improves on the method for the recruitment and
retention of employees at Eltizam Asset Management Group. The research study at the end draw
conclusions that will help HR managers of Eltizam Asset Management Group to retain the
existing employees and recruit talented and potential candidates by using effective strategies.
1.4 Research Objectives
To find out any gender difference in recruitment strategies as followed by Eltizam Asset
Management Group (Eltizam.ae 2017)
To highlight any gender difference in retention strategies as followed by Eltizam Asset
Management Group
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To evaluate on the current recruitment strategies used by Eltizam Asset Management
Group
To assess on the current retention strategies used by Eltizam Asset Management Group
1.5 Research Questions
1. Is there any gender difference in recruitment strategies followed by Eltizam Asset
Management Group?
2. Is there any gender difference in retention strategies followed by Eltizam Asset
Management Group?
1.6 Research Hypothesis
Hypothesis 1 : There is no gender difference in recruitment strategies of Eltizam Group
Hypothesis 2 : There is no age difference in recruitment strategies of Eltizam Group
Hypothesis 3 : There is no gender difference in retention strategies of Eltizam Group
Hypothesis 4 : There is no age difference in retention strategies of Eltizam Group
1.7 Significance of the study
The significance of the research study is to identify the issues that arrive from recruitment
and retention of employees at Eltizam Asset Management Group (Eltizam.ae 2017). Current
research into Eltizam Asset Management Group business recruitment and retention issues
emphasizes upon the ability for discovering as well as retaining talented staff members. It is
important to integrate the benefits of recruitment and treatment of employees in Eltizam Asset
Management Group for enhancing the outcomes of these processes in business premises. The
current literature in the study explains about recruitment strategies and retention strategies. Most
of the human resource department finds it difficult to hire new employees at work. Retention of
existing employees is very important. Corporate culture as well as working environment plays
main role in retention activities (Cascio and Boudreau 2016). There are several factors such as
compensation as well as benefits and working environment in employee recruitment.
Group
To assess on the current retention strategies used by Eltizam Asset Management Group
1.5 Research Questions
1. Is there any gender difference in recruitment strategies followed by Eltizam Asset
Management Group?
2. Is there any gender difference in retention strategies followed by Eltizam Asset
Management Group?
1.6 Research Hypothesis
Hypothesis 1 : There is no gender difference in recruitment strategies of Eltizam Group
Hypothesis 2 : There is no age difference in recruitment strategies of Eltizam Group
Hypothesis 3 : There is no gender difference in retention strategies of Eltizam Group
Hypothesis 4 : There is no age difference in retention strategies of Eltizam Group
1.7 Significance of the study
The significance of the research study is to identify the issues that arrive from recruitment
and retention of employees at Eltizam Asset Management Group (Eltizam.ae 2017). Current
research into Eltizam Asset Management Group business recruitment and retention issues
emphasizes upon the ability for discovering as well as retaining talented staff members. It is
important to integrate the benefits of recruitment and treatment of employees in Eltizam Asset
Management Group for enhancing the outcomes of these processes in business premises. The
current literature in the study explains about recruitment strategies and retention strategies. Most
of the human resource department finds it difficult to hire new employees at work. Retention of
existing employees is very important. Corporate culture as well as working environment plays
main role in retention activities (Cascio and Boudreau 2016). There are several factors such as
compensation as well as benefits and working environment in employee recruitment.
Chapter Two : Literature Review
2.1 Introduction
This chapter explains the literature review that covers viewpoint of different empirical
works of scholars on recruitment strategies as well as retention strategies at Eltizam Asset
Management Group, UAE (Veloso et al. 2014). The reason to review the literature section is to
establish linkages between recruitment as well as retention strategies that form the main basis for
the analysis of present research study. This section covers main areas that include works of
scholars on recruitment as well as retention strategies adopted by Eltizam Asset Management
Group in United Arab Emirates. Therefore, the study examines the research by drafting
conceptual framework at the end that is further divided into components pertaining to
recruitment strategies and retention strategies at Eltizam Asset Management Group, UAE (Renz
2016). Training employees at work is the one of the best way to reinforce the sense of value. By
training the employees, there is high possibility that these employees will be able to achieve
further goals as well as have a solid understanding of job requirements at the same time.
2.2 Definition of Recruitment and Selection
As rightly put forward by Taylor (2014), forms of recruitment and selection plays
important role in companies such as Eltizam Asset Management Group, UAE. Without human
resources, companies cannot function well and face difficulty in maintaining their existence. By
proper recruitment and selection, employees will gain an opportunity to work in the present
company or business (Cascio and Boudreau 2016). Recruitment is defined as the process that
opts for seeking and attracting a pool of applicants where qualified candidates are selected. On
the other hand, selection is defined as the process that links with human resource objectives as
well as employment objectives. Selection is the process where available candidates are chosen
with a view that these candidates can perform well in the job (Tiwari and Shrivastava 2013).
Recruitment of staff members is treated as one of the crucial personnel function that need
proper execution when competent staff members are employed in particular business enterprise.
Schiemann (2014) observed that the success of any business enterprise for achieving future goals
is enhanced because of the quality of its workforce. Recruitment can be termed as the process for
searching from large pool of interested candidates where business enterprise selects most
competent and qualified applicants for their business (Cappelli and Keller 2017). It is essential to
understand the fact that the principles of human resource management are treated same in both
private as well as public organizations. It is due to personnel management that deals with the
acquisition of personnel for managing ways in order to achieve goals of business enterprise as a
whole. The main goal of business enterprise is to achieve positive results based on which the
2.1 Introduction
This chapter explains the literature review that covers viewpoint of different empirical
works of scholars on recruitment strategies as well as retention strategies at Eltizam Asset
Management Group, UAE (Veloso et al. 2014). The reason to review the literature section is to
establish linkages between recruitment as well as retention strategies that form the main basis for
the analysis of present research study. This section covers main areas that include works of
scholars on recruitment as well as retention strategies adopted by Eltizam Asset Management
Group in United Arab Emirates. Therefore, the study examines the research by drafting
conceptual framework at the end that is further divided into components pertaining to
recruitment strategies and retention strategies at Eltizam Asset Management Group, UAE (Renz
2016). Training employees at work is the one of the best way to reinforce the sense of value. By
training the employees, there is high possibility that these employees will be able to achieve
further goals as well as have a solid understanding of job requirements at the same time.
2.2 Definition of Recruitment and Selection
As rightly put forward by Taylor (2014), forms of recruitment and selection plays
important role in companies such as Eltizam Asset Management Group, UAE. Without human
resources, companies cannot function well and face difficulty in maintaining their existence. By
proper recruitment and selection, employees will gain an opportunity to work in the present
company or business (Cascio and Boudreau 2016). Recruitment is defined as the process that
opts for seeking and attracting a pool of applicants where qualified candidates are selected. On
the other hand, selection is defined as the process that links with human resource objectives as
well as employment objectives. Selection is the process where available candidates are chosen
with a view that these candidates can perform well in the job (Tiwari and Shrivastava 2013).
Recruitment of staff members is treated as one of the crucial personnel function that need
proper execution when competent staff members are employed in particular business enterprise.
Schiemann (2014) observed that the success of any business enterprise for achieving future goals
is enhanced because of the quality of its workforce. Recruitment can be termed as the process for
searching from large pool of interested candidates where business enterprise selects most
competent and qualified applicants for their business (Cappelli and Keller 2017). It is essential to
understand the fact that the principles of human resource management are treated same in both
private as well as public organizations. It is due to personnel management that deals with the
acquisition of personnel for managing ways in order to achieve goals of business enterprise as a
whole. The main goal of business enterprise is to achieve positive results based on which the
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company aims at setting out ways to employ competent staff members as it is crucial activities to
attainment of future business success (Rachel, Pavithra and Imran 2016).
attainment of future business success (Rachel, Pavithra and Imran 2016).
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2.3 Definition of Recruitment
According to Soon (2017), recruitment is defined as the effort put by an organization to
induce a sufficient number of suitably qualified individuals for applying for position that are
readily available in the business enterprise. In order to opt for any new position, employee
should have the knowledge on job vacancies available for that post. In addition, recruitment is
the process that are used by companies to attract suitable people where they can apply for
position by making them aware that such positions exist in their companies (Pobst 2014).
2.4 Background of Eltizam Asset Management Group
Eltizam Asset Management Group is one of the leading asset management companies
based in United Arab Emirates that aims at providing strategic management services. The
company leverage expertise with the partners that benefit investors as well as homeowners and
commercial occupants. The main purpose of Eltizam Asset Management Group is to make
stakeholders safe and comfortable in their own property (Tatoglu, Glaister and Demirbag 2016).
Eltizam Asset Management Group work following tight deadlines as well as maintaining strong
customer service ethics for maintaining highest set of standards
Eltizam Asset Management Group is one of the multicultural companies that are rapidly
expanding both in United Arab Emirates and globally (Oseghale, Mulyata and Debrah 2017).
This asset management company shows interest in recruiting the best talent as per industry
benchmark. Eltizam Asset Management Group is constantly strive to find talented as well as
ambitious individuals with creative minds and those who have the ability to be inspirational
leaders in selected field of excellence (Tarique and Schuler 2012).
Working with Eltizam Asset Management Group is invaluable as the company foster an
opportunity for the employees to develop in their professional growth by interacting with leading
professionals of the industry who have proper knowledge about Asset management (Oladapo
2014). While working in this company, the team members have a sense of trust and
responsibility to help each other when needed. In addition, Eltizam Asset Management Group
provides the right platform as well as environment especially for maintaining work-life balance,
job satisfaction as well as career growth and recognition (Chitsaz-Isfahani and Boustani 2014).
The work assigned to the employee is more challenging and innovative that leads to work in an
exciting and safe atmosphere. Employees working under this company try their best to contribute
towards collective growth of the company as a whole (Sparrow, Hird and Cooper 2015).
The key drivers of attaining success level by Eltizam Asset Management Group was done
by partnering with clients so that the company can deliver best quality services as well as value
for money (Meyers and van Woerkom 2014). The company believes in understanding the
business needs of the clients that aligns with the services for attainment of future goals as well as
objectives. The company aims at helping the clients to achieve cost efficiencies as well as higher
According to Soon (2017), recruitment is defined as the effort put by an organization to
induce a sufficient number of suitably qualified individuals for applying for position that are
readily available in the business enterprise. In order to opt for any new position, employee
should have the knowledge on job vacancies available for that post. In addition, recruitment is
the process that are used by companies to attract suitable people where they can apply for
position by making them aware that such positions exist in their companies (Pobst 2014).
2.4 Background of Eltizam Asset Management Group
Eltizam Asset Management Group is one of the leading asset management companies
based in United Arab Emirates that aims at providing strategic management services. The
company leverage expertise with the partners that benefit investors as well as homeowners and
commercial occupants. The main purpose of Eltizam Asset Management Group is to make
stakeholders safe and comfortable in their own property (Tatoglu, Glaister and Demirbag 2016).
Eltizam Asset Management Group work following tight deadlines as well as maintaining strong
customer service ethics for maintaining highest set of standards
Eltizam Asset Management Group is one of the multicultural companies that are rapidly
expanding both in United Arab Emirates and globally (Oseghale, Mulyata and Debrah 2017).
This asset management company shows interest in recruiting the best talent as per industry
benchmark. Eltizam Asset Management Group is constantly strive to find talented as well as
ambitious individuals with creative minds and those who have the ability to be inspirational
leaders in selected field of excellence (Tarique and Schuler 2012).
Working with Eltizam Asset Management Group is invaluable as the company foster an
opportunity for the employees to develop in their professional growth by interacting with leading
professionals of the industry who have proper knowledge about Asset management (Oladapo
2014). While working in this company, the team members have a sense of trust and
responsibility to help each other when needed. In addition, Eltizam Asset Management Group
provides the right platform as well as environment especially for maintaining work-life balance,
job satisfaction as well as career growth and recognition (Chitsaz-Isfahani and Boustani 2014).
The work assigned to the employee is more challenging and innovative that leads to work in an
exciting and safe atmosphere. Employees working under this company try their best to contribute
towards collective growth of the company as a whole (Sparrow, Hird and Cooper 2015).
The key drivers of attaining success level by Eltizam Asset Management Group was done
by partnering with clients so that the company can deliver best quality services as well as value
for money (Meyers and van Woerkom 2014). The company believes in understanding the
business needs of the clients that aligns with the services for attainment of future goals as well as
objectives. The company aims at helping the clients to achieve cost efficiencies as well as higher
return on investment over and above average inflationary targets. In addition, the company even
provides one-stop-shop service for the clients in order to help them in outsourcing non-core asset
management services (Breaugh 2017). Furthermore, Eltizam Asset Management Group
constantly focuses on implementing business model evolution that differentiates the company
from the competition. The company even focuses on creating business opportunities that include
product diversification for enhancing the value of shareholders (Skuza and Scullion 2015).
Eltizam Asset Management Group is committed towards providing sustainable as well as
strategic asset management solutions to the clients and customers. The company aims at
enhancing business brand reputations that work constantly on upgrading the asset valuation of
the clients. In addition, the specialized professionals of Eltizam Asset Management Group ensure
to render committed excellence for delivery of exceptional solutions to the clients (Armstrong
and Taylor 2014).
2. 5 Recruitment strategies employed by Eltizam Asset Management Group
Identifying and nurturing top performance- The HR Department of Eltizam Asset
Management Group firstly aims at identifying as well as nurturing top performance (Benitez-
Amado, Llorens-Montes and Fernandez-Perez 2015). They identify top 20% of performance in
their business and keep a track of that information in an accessible list. Action plan need to be
made by these HR managers where discussion will be done on how to keep employees happy
and retain them with their company for longer period of time (Singh and Sharma 2015).
Recruitment technique- There is various important recruitment technique adopted by Eltizam
Asset Management Group for recruiting new employees. Newspaper advertisement, school or
placement job and website advertisement are some of the important recruitment technique used
by Eltizam Asset Management Group where new employees can be recruited that work for
becoming the real asset to the company (Mehta, Kurbetti and Dhankhar 2014).
Driving referrals as a company-wide initiative- It is a known fact that referrals is one of the
easiest way to source talent. Making use of referral source will help in boosting the results and
getting access to best talent. Employees will be given prizes in terms of monetary value that will
refer their friends, family or relatives in their company (Kontoghiorghes 2016).
Stipend programs- Stipend programs are one of the effective recruitment strategies that should
be used by company at the time of recruiting new employees. Stipend program is a program
where new recruits will be paid money during training sessions (Khilji, Tarique and Schuler
2015).
Internships and Liaisons- Internships and Liaisons are an effective way to train new recruit
when they start working for a company. Internship provides an opportunity to the new recruits to
get the training at an initial phase within the company (Kaur et al. 2015).
provides one-stop-shop service for the clients in order to help them in outsourcing non-core asset
management services (Breaugh 2017). Furthermore, Eltizam Asset Management Group
constantly focuses on implementing business model evolution that differentiates the company
from the competition. The company even focuses on creating business opportunities that include
product diversification for enhancing the value of shareholders (Skuza and Scullion 2015).
Eltizam Asset Management Group is committed towards providing sustainable as well as
strategic asset management solutions to the clients and customers. The company aims at
enhancing business brand reputations that work constantly on upgrading the asset valuation of
the clients. In addition, the specialized professionals of Eltizam Asset Management Group ensure
to render committed excellence for delivery of exceptional solutions to the clients (Armstrong
and Taylor 2014).
2. 5 Recruitment strategies employed by Eltizam Asset Management Group
Identifying and nurturing top performance- The HR Department of Eltizam Asset
Management Group firstly aims at identifying as well as nurturing top performance (Benitez-
Amado, Llorens-Montes and Fernandez-Perez 2015). They identify top 20% of performance in
their business and keep a track of that information in an accessible list. Action plan need to be
made by these HR managers where discussion will be done on how to keep employees happy
and retain them with their company for longer period of time (Singh and Sharma 2015).
Recruitment technique- There is various important recruitment technique adopted by Eltizam
Asset Management Group for recruiting new employees. Newspaper advertisement, school or
placement job and website advertisement are some of the important recruitment technique used
by Eltizam Asset Management Group where new employees can be recruited that work for
becoming the real asset to the company (Mehta, Kurbetti and Dhankhar 2014).
Driving referrals as a company-wide initiative- It is a known fact that referrals is one of the
easiest way to source talent. Making use of referral source will help in boosting the results and
getting access to best talent. Employees will be given prizes in terms of monetary value that will
refer their friends, family or relatives in their company (Kontoghiorghes 2016).
Stipend programs- Stipend programs are one of the effective recruitment strategies that should
be used by company at the time of recruiting new employees. Stipend program is a program
where new recruits will be paid money during training sessions (Khilji, Tarique and Schuler
2015).
Internships and Liaisons- Internships and Liaisons are an effective way to train new recruit
when they start working for a company. Internship provides an opportunity to the new recruits to
get the training at an initial phase within the company (Kaur et al. 2015).
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