The purpose of this paper is to conduct a job analysis on the financial analyst occupation in our firm. The process of conducting a job analysis involves the collection of job related data and then analyzing it to determine if the job description will attract the right candidates and is up to industry standards.
The finance analyst job description that was used in the job analysis pointed out the major duties of the role, the skills and qualifications required, the essential competencies, the experience, education, and training required, and special considerations.
The first step in conducting the job analysis is to understand the job. This entails considering all the duties of the position, the scope of these duties, the amount of authority, and the context in which these activities will be carried out (Royer, 2010). The financial analyst job description that we have has only detailed the main duties of the financial analyst. There is no information on which the financial analyst will be reporting to or the context in which he will carry out the duties. This might cause confusion as to the scope of the duties to be performed by the successful candidate, as well as how senior his position is in the organization.
After this step, we should identify the performance behaviors that will be used to evaluate the quality of the output produced. The job description that was used to conduct this job analysis does not detail the performance behaviors that will be used to determine whether the job has been done satisfactorily or not. The job description should have included details on the metrics that would be used in judging the quality of work produced. These behavior metrics would be key attracting candidates that understand how quality work is gauged (Grant, 1988).
Thereafter, we should focus on the essential competencies required for the job. These are the competencies that the candidate will need to exhibit in order to guarantee good performance and high productivity. The competencies fall under the qualifications section of ordinary job descriptions.
The job description that we are analyzing has listed the critical competencies required including being a team player, having a thorough knowledge in Microsoft Excel, excellent written and verbal communication, ability to multi-task, ability to demonstrate a high level of discretion, strong work ethic, professionalism, and maturity. Having the competencies listed down demonstrates a complete job description that will attract the candidates with the required qualifications.
The experience, education, and training section is essential in any job description. The section should be analyzed by every job analyst. Some of the competencies that were described above are derived from experience, training, and education. The job analyst should ensure that the requirements in the section should be based on the projected number of qualified people in the market. The requirements in this section should also be realistic and reasonable based on the market. The requirements in this section should be placed at an optimum level.
If the qualifications in this section are too high then some candidates with the right competencies might be eliminated during the screening stage without being given the opportunity to prove themselves. When the qualifications are set too low, then most of the applicants will need to be assessed and considered. This process might be too time consuming, costly, and at times, a pointless if the candidates do not have the competencies required by the company (Prien, and Huhse, 2004).
There should also be a special consideration section in a job description such as the criminal records view. The financial analyst job description does not detail any special considerations as such there is a high risk that the description will attract people with criminal records. People with criminal records would not be a perfect fit for a financial analyst position because of the level of integrity and honesty required. Other special considerations that should be placed in the financial analyst job description include details on the physical requirements, willingness statements, professional designations, and occupational certifications.
Grant, P.C. (1988). Why job descriptions do not work. Personnel Journal, 3(25): 132-135.
Prien, E. & Huhse, G. (2004). A content-oriented approach to setting minimum qualifications. Public Personnel Management, 33 (1): 89-98.
Royer, K.P. (2010). Job descriptions and job analyses in practice: How research and application differ. College of Liberal Arts and Social Sciences Theses and Dissertations. Paper 50.