Job descriptions are the life force of HR processes. Everything from recruitment and training to performance evaluations and compensation all stems from that document. A strong job description touches all facets of the employment life cycle. It’s not just an exercise in due diligence and compliance. If you’re seeking top financial industry talent, it’s important to make these changes to your job descriptions.
1. Know how often to update:
Job descriptions should be updated once a year. While circumstances might call for more frequent updates, it is a great time to update once a year to coincide with the performance review process. Look at your goals and objectives during that time period and update job descriptions as necessary. It’s also vital to be inclusive—involve employers, employees, and even your marketing department for input into changes. Ensure that the employees are currently doing the job report on any small changes to the day-to-day functions as they see it. If you are a growing or changing organization, you’ll likely have to do it more often. Think of the job description as an ever-evolving document.
2. Understand the difference between a job description and job posting:
They are two very different things, achieving two different goals. A job posting is what a company uses to sell itself and the open position. It’s all about enticing candidates, to peak people’s interest. A job description is about compliance. It covers the essential functions, qualifications, and physical requirements of the job.
3. Changes in pandemic times:
This is crucial. We are living in pandemic times where the rules and norms of two years ago don’t apply in the same way. You have to account for any remote working, new technology upgrades, software that candidates must use, and safety protocols due to health guidelines. These are vitally important changes, and will reflect on how your company sees its operations post-pandemic, as well as how adaptable your company has been due to current economic circumstances.
4. Descriptions that reflect the compensation:
Compensation professionals evaluate job descriptions to determine wages that should be paid for the performance of a job. Determining wages for a job is another crucial reason that job descriptions are accurate and current. Since it is not unusual to have significant changes in the workplace, management and HR should review and/or update job descriptions annually.
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