Co-Op Bank Case Study
1) Why you chose this organization for that particular topic.
The Organization that has been chosen to highlight the issue of selection criteria is the Co-op Bank in UK, which forms part of the Co-op Group. The Co-op Group is the UK’s largest mutual business, owned by more than eight million members, and has a minority shareholding in the Co-operative Bank.
The choice of this particular organization has been made to highlight and analyze a faulty recruitment, which turned into a major scandal in the high rungs of United Kingdom and became also a raging political issue later. This involved the recruitment of Mr. Paul Flower as the Chairman of Co-op Bank and Vice-Chairman of the Co-op Group in April 2010. He later went through a debacle due
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And 92% of the employers in UK considered psychometric testing to be an important tool for recruitment. This can indicate an over-reliance on a single method and very limited number of other selection procedures being actually used for recruitment purposes. This could actually point towards a general malpractice in the UK.
TURNOVER PROBLEMS
According to the Harvard Business Review, employee turnover is due to bad hiring decisions goes as high as 80%! This is a direct reflection that proper care was not taken to make an in-depth research on the candidate match with the job requirements, and also the means used for the selection process were insufficient and ineffective. Evaluating and leveraging various technologies available to the recruiters and hiring managers can ensure an effective hiring process. Many existing tools and practices seen in companies of all sizes unfortunately are less and less suited with today’s demands, leading to misfits in hiring and obvious turnover
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Some companies will reject a candidate based on their not achieving “as good results as they anticipated”, even though the candidate may have excelled in other areas of the recruitment process. Psychometric tests can also be detrimental when used in certain cultural groups (and could be considered discriminatory). They can also be damaging when employers place too much of an emphasis on their results and overlook the importance of traditional interviews and reference
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