Getting the right employees for a particular job can cost an organization tremendous hard work alongside costing the company thousands of dollars in recruitment. In such instances, internal recruitment seems like the most natural answer to multiple staffing needs. After all, the management already has the candidates on board, and there is a working history to help the panel of recruitment to determine the strengths and weaknesses of the candidates. Moreover, internal staffing makes the entire recruitment process not only more comfortable but quicker alongside reducing the associated costs. One such organization that has successfully illustrated the value of internal recruitment and its impact on the management is Banco Bradesco.
The Changes in Banco Bradesco
As a leading financial services firm in Brazil, the last couple of months have been somewhat unpredictable for the employees of Banco Bradesco because of the frequency in reshuffling. For starters, it all began when in late 2017; the former president of the bank, Mr. Brandao de Mello stepped down citing that it was time to pave the leadership docket for a slightly more vibrant leader. Furthermore, he had served for more than three decades; a reflection of his loyalty to Banco Bradesco. Other than that, he was particular about the bank upholding internal recruitment in the search for his replacement. As if that was not enough, he appointed a successor to hold his position temporarily; Luiz Carlos Trabuco took over instantly. For more than four months, Luiz Carlos served as the chairman of Banco Bradesco.
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Octavio de Lazari is elected.
In early March 2018, the panel of directors held a meeting to discuss the way forward in the leadership of the institution. First, they had a sitting to consider the impact of internal recruitment to the firm. From the discussion, it was of utmost importance for the bank to invest in an individual who would help utilize the already available resources in terms of managerial skills and leadership prospects according to valor.com.br. Furthermore, given that there was a list of viable leaders awaiting election, the election period was a bit challenging as almost every candidate had some qualifications. However, Octavio de Lazari’s resume was too impressive as he had been part of the bank for quite some time. Although that contributed to his appointment as president, the weight lied on his experience and past contributions in the development of the bank’s service portfolio.
While taking over the leadership realms, Octavio de Lazari promised to walk into the footsteps of his mentors; Luiz Carlos Trabuco and Brandao de Mello.
Luiz Carlos Trabuco Retains Leadership Roles
Correspondingly, Luiz Carlos Trabuco took over his initial role as the chief executive officer. What is more, he is already advocating for the implementation of pension reforms. What’s more, in his perspective, these reforms will dictate the way in which the next policies will be approved.
Like in the case of Banco Bradesco, internal recruitment works brilliantly for some companies. Nevertheless, before an organization embarks on this route, it is critical to consider its impact on the employee turnover.