Effective recruitment, selection and retention are critical to organizational success. They enable companies to have high performing employees who are satisfied with their jobs, thus contributing positively to the organization. On the contrary, in-effective recruitment methodology, selection and retention would result in mismatches which can have negative consequences for an organization. A misfit who is not in tune with organization’s philosophies and goals can reduce output, productivity, customer satisfaction, relationship and over all quality of work. Training a wrong hire can also be expensive. Effective recruitment is therefore not only the first step towards organizational excellence, but important cost control mechanisms as well.
The human resources are the most important assets of an organization. The success or failure of an organization is largely dependent on the caliber of the people working therein. Without positive and creative contributions from people, organizations cannot progress and prosper. In order to achieve the goals or the activities of an organization, therefore, they need to recruit people with requisite skills, qualifications and experience. While doing so, they have to keep the present as well as the future requirements of the organization in mind.
Recruitment is distinct from Employment and Selection. Once the required number and kind of human resources are determined, the management has to find the places where the required human resources are available and also find the means of attracting them towards the organization before selecting suitable candidates for jobs. All this process is generally known as recruitment. Some people use the term “Recruitment” for employment. These two are not one and the same. Recruitment is only one of the steps in the entire employment process. Some others use the term recruitment for selection. These are not the same either. Technically speaking, the function of recruitment precedes the selection function and it includes only finding, developing the sources of prospective employees and attracting them to apply for jobs in an organization, whereas the selection is the process of finding out the most suitable candidate to the job out of the candidates attracted (i.e., recruited).
Background of the Company
The pharmaceutical market of Bangladesh very much dynamic and competitive and is comparable to those of developed countries. It is a matter of great pleasure that this sector successfully fulfils major portion of local demand of pharmaceutical products and at the same time it is moving forward to explore the international market for chemicals and pharmaceuticals products. The contribution of pharmaceuticals companies in Bangladesh to the national economy is encouraging. The investment in this sector is increasing which speaks about the potentiality in this sector. This sector satisfies the demand of the local market and also goes for export to explore the international market. Nuvista Pharma is one of the well-known performer in Pharmaceticul Industry in Bangladesh.
Organon (Bangladesh) Limited has been operating in Bangladesh since 1964. Until 30 June 2006, it was a subsidiary of Organon International, a renowned global bio-pharmaceutical company, concentrating on gynecology, anesthesia, fertility and neuroscience. On 1 July 2006, Organon International divested its entire stake in Organon (Bangladesh) Ltd. to local management. Subsequently the name of the Company was changed to Nuvista Pharma Limited in December 2006. Nuvista Pharma Ltd. markets a specialized range of products, comprising mainly hormones and steroids. It manufactures tablets, capsule and injections at its own manufacturing facilities in Tongi, Gazipur, and also imports finished medicines from Organon International.
The company in every other respect remains the same. It continues to import world renowned and trusted Organon brands for the...