Effective Management and Application of Human Resources in HSBC

Effective management and
application of human resources
in HSBC

Contents
INTRODUCTION...........................................................................................................................3
SECTION 1......................................................................................................................................3
Overview of company:...........................................................................................................3
Importance of workforce planning towards organisational goal............................................3
Strength and weakness of different approaches to recruitment & selection..........................3
SECTION 2......................................................................................................................................4
Explain benefits and limitation of HRM practices.................................................................4
Evaluate how HRM is related with organisational efficiency, effectiveness and profitability.
................................................................................................................................................5
SECTION 3......................................................................................................................................6
Important of employee relations with respect to influencing HRM decision making...........6
Key elements of employee legislation with its impact on HRM decision making................7
Application of HRM...............................................................................................................7
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Human resources management is a part of management that includes so nay activities such
as section, recruitment, and appraisal of employee (Flynn, Valentine and Meglich, 2021). It plays
an essential role within company. Following report is based on HSBC Bank Plc. and covers
different methods of recruitment and selection with strength a d weakness. Also limitation and
benefits of HRM practices, employee relation and application of HRM.
SECTION 1
Overview of company:
HSBC Bank Plc. of UK provides banking services, offers credit and debit card services,
saving and current accounts, personal & home loans, mortgages, investment advisory and
property & casual insurance services. It service consumers across the world (HSBC UK Bank
PLC, 2021).
Mission: HSBC is one of the world’s largest banking and financial service organisation.
They serve around 46 million customers through four global businesses.
Vision: Primary vision of HSBC Bank is to be the leading international bank in turkey.
Core business objective:
 Build connection, be aware of external issues and collaborate across boundaries.
 Care about individual and their progress, show respect, be supportive and responsive.
Importance of workforce planning towards organisational goal.
Workforce planning refers to a plan related with the future need of workforce to attain
business objective. It includes safe staffing, recruitment & retention, development of workforce
and succession of planning. It is important because it makes everyone from management to staff
look to future for themselves and for business. It aid aspiring staff to push themselves forward, to
recognise people into role. It requires managers and leaders to plan ahead by considering all
business eventualities.
Strength and weakness of different approaches to recruitment & selection
Recruitment – It is a process which is related with hiring of employee when an occurrence is
arise. It is a searching procedure of potential candidate who have ability to perform all function
of company appropriately and fill vacant position.

Internal recruitment- This is related with hiring of individual within company by
promoting or transferring for full filling vacant job role. It saves time and cost both.
Strength: Lots of expenses incurred in external recruitment can be saved as well as it is
supportive in developing company’s efficiency.
Weakness: Sometime individual are not feeling good while transferring one place to
another. Also it is not good for opting new technologies.
External recruitment- In this approach candidate are hired from outside of the organisation.
Application of potential candidates synchronised for full filling the vacant job role. To selected
best so many test are organised.
Strength: It offer opportunity to welcome highly skilled and experiences candidate which
are able to opt advancement in technology. It is a sources of hiring talented workforce within
company.
Weakness: Respective firm is large in size and have complex organisational structure, to
settle in organisation new recruiter take time and this is cost effective process too (Stewart and
Brown, 2019).
Selection: It is final stage of recruitment in that candidates are selected based on their
performance.
Preliminary screening: In this all applied application are carried out together and then
selected based on JS, JD either employee are meeting with set criteria or not.
Strength – It saves time, provides clarity about essential requirements.
Weakness - Capable candidate face problem by rejection over selected as it totally depends
on personal judgment of mangers.
SECTION 2
Explain benefits and limitation of HRM practices.
Performance management: It is a continuous process that are associated with the
interaction of employee and employer to track the performance of each subordinates within the
organisation. Also to guide them the right direction and path for the accomplishment of
organisational goal. In context of HSBC bank Plc. they carry out so many approaches in order to
measure the employee performance like MBO, 360 degree feedback and so many more.