HR Systems Analysis of Standard Chartered Report 2022

Running head: HR SYSTEMS ANALYSIS OF STANDARD CHARTERED
HR Systems Analysis of Standard Chartered
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HR SYSTEMS ANALYSIS OF STANDARD CHARTERED1
Executive Summary
certain strategic issues are observed to be faced by Standard Chartered regarding effective
implementation of SRHM practices in UK that is required to be addressed by the Board of
Directors of the company. The objective of the report was to analyse the HR processes and
practices within a global organisation in the UK banking sector such as Standard Chartered.
Being human resource management consultant advices will be offered to the banking
organisation regarding restructuring of its HR practices that can facilitate the company in
competing more effectively within the international marketplace.

HR SYSTEMS ANALYSIS OF STANDARD CHARTERED2
Table of Contents
1. Introduction..................................................................................................................................4
2. Strategic Issues to be addressed in Standard Chartered...............................................................5
3. Reflection on Different SHRM Practices from Various Business Sectors..................................6
3.1. SHRM Development and Practices from Various Business Sectors....................................6
3.1.1. SHRM Development and Practices in UK Oil and Gas Sector (British Petroleum).....6
3.1.2. SHRM Development and Practices in UK Retail Sector (Tesco).................................8
3.1.3. SHRM Development and Practices in UK Hospitality Sector (ITC)............................9
3.1.4. SHRM Development and Practices in UK Manufacturing Sector (Rio Tinto)...........11
3.1.5. SHRM Development and Practices in UK Healthcare Sector (HCA Healthcare)......12
4. Training Strategy for Standard Chartered in Creating High Performance Organisation...........13
5. Strategic HR Implementation Plan in Creating High Performance Organisation.....................15
5.1. SHRM Policies and Practices.............................................................................................15
5.2. HR Planning........................................................................................................................17
5.3. Recruitment.........................................................................................................................19
5.4. Selection.............................................................................................................................20
5.5. Performance Appraisal Strategies.......................................................................................20
6. Conclusion.................................................................................................................................23
References......................................................................................................................................25

HR SYSTEMS ANALYSIS OF STANDARD CHARTERED3

HR SYSTEMS ANALYSIS OF STANDARD CHARTERED4
1. Introduction
Strategic human resource management (SHRM) is considered as a philosophy of
managing the employment relations with the employees working in the organisation.
Implementation of SHR strategies ensures high performance of employees to make the
organisations highly adaptive, competitive along with effective within a turbulent competitive
business environment (Barrick et al. 2015). SHRM considers implementing innovative practices
related with business operations along with employment relations. In the current report, one of
the renowned international organisations operating within the banking sector of UK will be
selected like Standard Chartered for analysing its HR practices and strategies effectiveness.
Standard Chartered Plc. is a renowned British multinational banking and financial services
company that is positioned as seventh largest bank all over the world that serves more than seven
million consumers all over the world. The financial performance of the bank signifies that the
organisation is attaining its business goals of offering better services and products to its target
consumers (Hsbc.co.uk. 2019).
The objective of the report is to analyse the HR processes and practices within a global
organisation in the UK banking sector such as Standard Chartered. Being human resource
management consultant advices will be offered to the banking organisation regarding
restructuring of its HR practices that can facilitate the company in competing more effectively
within the international marketplace. Strategic issues faced by the selected banking organisation
will be analysed so that suitable strategic HR implementation plan can be crated for facilitating
Standard Chartered in creating a high performance as well as competitive business. N effective

HR SYSTEMS ANALYSIS OF STANDARD CHARTERED5
HR implementation plan for the bank will take into consideration SHRM, HR planning,
selection, recruitment long with performance appraisal strategies (Bin 2015).
2. Strategic Issues to be addressed in Standard Chartered
Over the years, Standard Chartered has attained exceptional performance and positioned
itself as leading banking organisation in UK as well as internationally. The banking organisation
has always been responsible in making an employee high performing individuals in the
workplace to make them meet the demands of the changing environment. The bank focuses on
training employees in a way that they follow all the ethical rules existing within the society and
offer services as per as demanded by the society (Bailey et al. 2018).
However, certain strategic issues are observed to be faced by Standard Chartered
regarding effective implementation of SRHM practices in UK that is required to be addressed by
the Board of Directors of the company. HSBC is an international banking organisation that is
evidenced to deal with certain risky situations associated with human talent management that is
the most important asset if the organisation in attaining better financial performance (Bratton and
Gold 2017). In order to attain full commitment from the employees the banking organisation is
intended to develop innovative human resource practices and policies. In addition, the bank is
also striving to remain conscious regarding the cultural diversity if its employees as it have
spread its branch networking several areas of the world where employees belong to different
cultural backgrounds. For this reason, HSBC needs to ensure that its SHRM practices must be
different in various regions of the world (Caloghirou et al. 2018).
Increasing globalisation has generated more awareness regarding the need of the HSBC
Holding’s HR mangers to be highly sensitive towards the cultural aspects in the SHRM process.