Botswana has become the latest country to realize the added advantage of having in place electronic recruitment processes as part of their Human Resources functionality. Companies are progressively moving away from labor intensive exercises requiring them to print CV’s into large cumbersome piles in order to scrutinize eligibility of applicants at a later stage (when they have mentally prepared themselves for the mammoth task).
Apart from the manner in which they receive and deal with CV’s, the way in which companies advertise positions in the modern era has also evolved to new time-saving, hassle-free electronic methods. These are very attractive options to organizations as they provide more cost effective solutions to HR Practitioners across the globe.
So what is an online job board? Online Job Boards have been around since the early 2000’s. Globally their popularity has grown steadily year-by-year to the point that they are now top shelf on the list when companies consider the ways in which they are to advertise their job vacancies. Job boards are distinctly different to recruitment agencies as they do not provide an HR admin function or processes.
Their strength lies instead in the manner in which they connect with the target groups through the internet. We’ve all heard about the way in which companies in advanced countries have realized the need to engage in commercial activities on social media sites like Facebook, twitter and YouTube. Sites that were previously considered to be frivolous and for juvenile usage.
This is simply not true and companies have woken up to the fact. They’ve realized that people are on these sight for a good part of their days whether it be at work or at home; to update family and friends on something amazing that happened in their lives; to tweet about an event they may be a part of or just to upload a fun video with friends to put a smile on whoever comes across their offering.
The platform the internet provides is limitless and it has given birth to social media sites that have changed our world for the better. Job boards fall in this very category.
Whilst these existing platforms are increasingly used to a commercial end the rise of Online Job Boards has served to further streamline the use of the internet when people are advertising available jobs and searching the market for employment. These technological advertences are invaluable. And here’s why. Advertising your job online makes it a lot more accessible to people.
This is true even in Botswana. We are not as behind in the technology space as people think. We have telecommunication companies that have brought world leading 4th generation internet connectivity (4G) right to our doorstep.
This means that if you have a smart phone, tablet, phablet, laptop or TV that can connect to the internet you will be able to connect to whatever you’re searching for in a matter of nano-seconds.
So whatever you place online will be available for all to see on the internet in an instance. Meaning if your company places a job advert on an online job board the second it is published it will become available worldwide in an instant.
It typically takes an average of 45 days to fill a vacancy. The first stage of this process includes advertising through print media, internal and external e-recruiting, word-of-mouth exercises etc. to inform people of the vacancy.
The wider you cast your net and the faster this can happen the better your chances of cutting down the extended period it will take your HR department to make a placement. Online Job Boards greatly speed up this process for your company because they are convenient for job seekers. As a job seeker there is a reluctance to go to each individual company’s website to check for vacancies on their respective career pages.
Not because they are lazy but simply because the exercise would be too time consuming. Sometimes information on career sites is not readily available due to the lack of a specifically dedicated person or team to spearhead this new e-recruitment functionality of their website.
Online Job Boards can further aid your company and its e-recruitment aspirations as it links jobs currently present in your internal career pages to the more centralized job board where job seekers will conveniently find them.
It can even serve as your career page so that when applicants click on the tab present on your page they will be re-directed to your dedicated page on the centralized job board which will contain all of your vacancies updated in real-time. It’s an incredibly efficient way to keep prospective employees abreast of when you are hiring for new positions as well as when applications are closed.
Online Job boards will help you receive a greater numbers of applicants. Whilst also providing you with automated ways of sorting through them that won’t cause an aneurism.
Virtual accounts are provided by job boards where all of the CV’s you have gathered in your database through prior job adverts can be stored for future use when you have another vacancy to fill. This can directly minimize your advertising expenditure as you will now be able to go through your virtual database to search relevant CV’s to the new position you are hiring for.
There will be no need to advertise externally. Being on the digital space means that Job Boards tend to work hand in hand with social networks as a tool to further increase traffic to their site and garner greater numbers of CV’s for your advertised jobs. More traffic to the job board means increase traffic for your company website as well m, through linking of pages.
This now becomes a branding value add to your company because where the Job Board penetrates the market your company will be present too. This has proven an effective way of getting visitors to your company’s site and maintain a high level of brand exposure in the market.
There is no reason why Online Job Boards will not work for your company. They are cost-effective, automated and integrated to the internet in a manner that both you and prospective employees will find immensely beneficial. Integrate an online job board into your company’s recruitment today and see instant results as you scoop up all the best available talent with ease.
In the words of Charles Darwin, "It is not the strongest of our species who survives, or the most intelligent, but the one most responsive to change.”
A squeaky and glittering metaphoric smile was the look reflected from the Pula against the greenback this week and money market researchers lean this on optimism following Monday’s announcement of another Covid-19 vaccine which is said to have boosted emerging market economies.
With other emerging market currencies, the Pula too reacted to optimism and fanfare on the new Covid-19 vaccine against the weakening US dollar which has been losing its shine since the uncertainty laden US elections.
After bouncing back into the Johannesburg Stock Exchange (JSE) last week Friday, following a year of being in the freezer, the Choppies stock started this week with much fluidity.
Choppies was suspended in both the Botswana Stock Exchange and its secondary listing at the JSE for failure to publish financial results. Choppies suspension on Botswana Stock Exchange was lifted on 27 July 2020. On Friday last week, when suspension was being lifted, Choppies explained that this came into fruition “following extensive engagement with the JSE.”
Choppies stock, prior to suspension, hit a mammoth decline in value of more than 60 percent, especially in September 2018. Waking from a 24 month freezer, last week the Choppies share price was at R0.64 and the stock did not make any movement.
However, Monday was the day when Choppies stock moved vibrantly, albeit volatile. Choppies’ value was on a high volatile mood on Monday, reaching highs of 200 percent. At noon, the same Monday, the Choppies share had reached R1.05. Before taking an uphill movement, Choppies stock slightly slipped by 2 cents. But the Choppies share rode up high and by lunch time the stock had reached the day’s summit of R2.00 and that was at 13:30 when investors were buying the stock for lunch.
The same eventful Monday saw gloom on the faces of Choppies rivals, when Choppies gained by 220.31 percent around lunch time its rivals in the JSE Food & Drug Retailers sector were licking wounds. Spar lost 2.94 percent, Pick Pay fell by 2.43 percent, Shoprite 7.52 percent and Dis-Chem 1.98 percent. The only gainer was Clicks by a paltry 0.51 percent.
In an interview with BusinessPost, Choppies sponsors at the JSE PSG Capital Managing Director Johan Holtzhausen explained that the retailer’s stock was in high demand after a long suspension. He said when a company list or a suspension is lifted the market needs to find itself on the pricing of the share.
“Initially when the suspension was lifted there were more buyers than sellers. As far as we could see this created a shortage of shares so to speak and resulted in the price at which the shares traded going to R1.20 and eventually R2.05 before finding its level around R0.80 sent from a JSE perspective.
This is marked dynamics and reflect that there are investors that are positive about the stock in the long run. This is a snapshot over a short period and one requires a longer period to draw further conclusions,” said Holtzhausen in an interview talking about the Choppies stock.
On Monday this week where the Choppies value grew by 200 percent, the stock took a turn looking down, closing the day at R0.87 from a high of R2.00. According to local stockbroker Motswedi Securities on Monday while there was no movement by Choppies in the local stock exchange as the retailer appeared on the board as 141,000 shares traded at P0.60 each.
However in Choppies’ secondary listing the stock price rallied to over 200 percent during intraday trading on Monday before losing steam and declining to around R0.87 share.
Before press yesterday Choppies opened the market with the stock starting the day at R0.80 then went flat for few hours before taking a slide downward, dropping 5 cents in 30 minutes. Choppies then went flat at R0.75 for 50 minutes yesterday before going up at 10:20 am where it nearly recovered the open day price of 80 cents, but was shy of 1 cent. From 79 cents the price went flat until noon.
Competition and Consumer Authority (CCA) has revealed that in its assessment of the Jet take over by Foschini, there were considerations on possible market rivalry and a clash in targeted classes.
According to a merger decision notice seen by this publication this week, high considerations were made to ensure that Foschini’s takeover of Jet is not anyhow an elimination of rivalry or competition or if the two entities; the targeted and the acquiring enterprise serves the same class of customers or offer the same products, to elude the anti-trust issues or a stretch of monopoly.
The two entities are South African retailers whose services stretched to Botswana shores. Last month local anti-trust body, CCA, received an acquisition proposal from South African clothing retailer, Foschini, stating their intentions to take-over Jet.
South African government’s Business Rescue Practitioners earlier this year after finding out that Jet’s mother company, Edcon, is falling apart, made a decision that Foschini can buy Jet for R480 million. This means that Foschini will add Jet to its portfolio of 30 retail brands that trade in clothing, footwear, jewellery, sportswear, homeware, cell phones, and technology products from value to upper market segments throughout more than 4085 outlets in 32 countries on five continents.
However the main headache for the CCA decision which was released this week, is distinguishing the targeted and the acquiring entity businesses and services.
When doing a ‘Competitive Analysis and Public Interest’ assessment, CCA is said to have discovered that Foschini is classified as a “standard retailer” which targets middle-to-upper income consumers and it competes with stores such as; Truworths and Woolworths. The targeted entity, Jet, is on the lower league when compared to its acquirer, it serves customers of lower classes and is regarded as a discount/value retailer targeting lower income consumers or a mass market. This makes Jet to be in direct competition with Ackermans, Pepkor, Cash Bazaar and Mr Price.
“Therefore, a narrower view of the market is that Foschini through its stores trading in Botswana is not a close competitor to Jet. Additionally, there exist other major rivals who will continue to exercise competitive constraints on the merged enterprise post-merger,” concluded CCA this month.
The anti-trust body continued to explain that in terms of the Acquisition of a Dominant Position, the analysis shows that the acquisition of the target business by Foschini Botswana will result in an insignificant combined market share in the relevant market.
This made CCA reach to a conclusion that there is no case of an acquisition of a dominant position in the market under consideration or any other market on the account of the proposed transaction.
What supports the merger according to CCA is that it is in compliance with regards to ‘Public Interest Considerations’ because the findings of the assessment revealed that the transaction is as a result of the need for a Business Rescue by the target enterprise. This is so because in the event that the proposed transaction fails, it will translate into the loss of the employment positions at the target business.
“On that note the Authority (CCA) found it necessary to ensure that the proposed merger does not result in any retrenchments or redundancies. In light of this, the assessment revealed the critical need to protect the employees of the merged entity from possible merger specific retrenchments/ redundancies,” said CCA.
Before making a determination that the recently proposed transaction is not likely to result in the prevention or substantial lessening of competition or endanger the continuity of the services offered in the relevant market, CCA said it then moved into a concern for public interest which is a protection enshrined in the Competition Act of 2018.
CCA’s concern was mostly loss of livelihood or employment by 126 Batswana workers at Jet stores, stating that possible retrenchments or redundancies may arise as a result of implementation of the proposed merger.
Much to the desire of trade union or labour movements in Botswana and across Southern Africa where the Jet stores are stemmed-who also raised concerns about the retail’s workers job security- CCA subjects Foschini to keep the target entity 126 workers.
“There shall be no merger specific retrenchments or redundancies that may affect the employees of the merged enterprises. For clarity, merger specific retrenchments or redundancies do not include (the list is not exhaustive): i. voluntary retrenchment and/or voluntary separation arrangements; ii. Voluntary early retirement packages; iii. Unreasonable refusals to be redeployed; iv. Resignations or retirements in the ordinary course of business; v. retrenchments lawfully effected for operational requirements unrelated to the Merger; and vi. Terminations in the ordinary course of business, including but not limited to, dismissals as a result of misconduct or poor performance,” said CCA.
CCA also orders that Foschini informs it about all the details of 126 Jet employees within thirty (30) days of the merger approval date. CCA should also know information of when Foschini is implementing the merger, within 30 days of the approval date.
Other conditions include Foschini sharing a copy of the conditions of approval to all employees of the Jet or their respective representatives within ten (10) days of the approval date.
“Should vacancies arise in the target, the merged enterprise shall consider previous employment at one of the non-transferring Jet stores to be a positive factor to be taken into account in the consideration of offering potential employment,” said CCA.
According to CCA, in cases of any job losses, for the Authority to assess whether the retrenchments or redundancies are merger specific, at least three months before (to the extent that this deadline can be practically achieved and in terms of the prevailing and legally required employment practices) any retrenchments or redundancies are to take place, inform the Authority of: i. The intended retrenchments; ii. The reasons for the retrenchments; iii. The number and categories of employees affected; iv. The expected date of the retrenchments.