Pans - Amazing Inventory Planning

Panin Sekuritas (PANS) History Background

The government started a new era of capital market by opening the Exchange for foreign investors to contribute to the growth of Indonesian capital market in 1989. Accordingly, Panin Group, which is a strong and well-known group in financial services industry, set up a securities firm named PT. Panin Sekuritasindo through its Panin Bank in 1989. In 1991, company invited new partners to give new contributions, which was why the name was changed to PT. Nusamas Panin. Following the growth of Panin Bank as a strong and financially healthy bank in Indonesia, afterward the company changed its name to PT. Panin Sekuritas in 1995. As the business continued growing, the company decided to go public in 2000, in order to strengthen its capital structure and aim for expansion.

Recruitment

By definition, recruitment is the process of locating potential individuals who might join an organization and encouraging them to apply for existing or anticipated job openings. There are two sources of recruitment, which are internal and external. At PANS, for entry-level positions PANS uses external recruitment. PANS prioritize its existing employees to be recruited internally and try to boost up current employees’ career advancement through company’s appropriate terms and conditions. Unless PANS unable to find the perfect fit for the vacant position and the position has to be filled urgently, only then they try to recruit externally. Theoretically, ‘promotion-from-within’ policy encourages employees to continue their effort and ensure them if they can perform well, they will be promoted too. This improves confidence within the company and supports a culture of employee engagement.

Company should also be wary of potential limitations as well. There are jobs that require specialized training and experience that can’t be easily filled within the company. As for PANS case, according to the regulations from BAPEPAM-LK, Stockbrokers would need to fulfill several prerequisites, for instance WPPE Certifications (Wakil Perantara Pedagang Efek). Hence, should there are any vacant Stockbrokers Positions and PANS unable find the replacement internally, PANS would then recruit externally.

To recruit externally at PANS, they use three sources of recruitment below:

• Referrals:

o PANS Employees

For instance, PANS accept recommendations from its employees if there are any vacant positions. Occasionally, PANS practice nepotism too. Nepotism is a practice of hiring relatives of current employees. Perhaps nepotism has negative connotation since it can invite charges of favoritism. However, the referred candidates would still be subjected to strict selection process, and to avoid discrimination, PANS are in compliance