Effective Management and Application of Human Resources in HSBC

Effective management
and application of
Human Resources in HSBC

Table of Contents
Introduction......................................................................................................................................3
Section 1...........................................................................................................................................3
Introduction to HSBC Bank Plc.............................................................................................3
Importance of workforce planning in order to achieve goal of business organisation and
consider strategic HRM .........................................................................................................3
Various strengths and weaknesses of several approaches of recruitment and selection........4
Section 2...........................................................................................................................................5
Benefits and limitations of HRM practices of organisation's employees and employer........5
Effectiveness of HRM practices in terms of raising organisational profit as well as
productivity.............................................................................................................................7
Section 3...........................................................................................................................................8
Employee relations importance in regard to HRM decision-making.....................................8
Employment legislation as well as its impact upon HRM decision-making..........................8
Application of HRM practices in reference work related context .........................................8
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

Introduction
HRM practices plays significant role in an organisation. Effective management and
application of Human resources in overall development of the company is necessary in order to
achieve ultimate success for the company. HR is required to adopt effective employment
legislations and other practices in order to encourage workforce to produce effective results and
maintain their productivity levels for ultimate growth of the company. In this reference, this
report will be based up on HSBC Bank PLC of which HRM practice will be identified and
evaluated in order to reach ultimate outcome of the manner in which company manages its HR
related operations.
Section 1
Introduction to HSBC Bank Plc
HSBC Bank Plc is a multinational banking organisation which has vast areas of
operations and founded in 1836 at Birmingham, UK. It provides services such as personal
financing, commercial banking and other investing related facilities which helps customers as a
whole. It includes approximately 85000 employees which are presently working for the
company.
Mission statement: HSBC Bank PLC's mission is to “enhance economies and let businesses to
growth at extreme heights” by satisfying the needs and hopes in order to connect maximum
customer base.
Core business objectives: Various core business objectives of HSBC bank Plc is being given as
follows:
 To create business value and make unique business identity.
 To take customers together in order to succeed in the long term basis.
 To digitalise its operations at large scale.
Importance of workforce planning in order to achieve goal of business organisation and consider
strategic HRM
Workforce Planning: It is considered as important task from company's point of view in order
to achieve ultimate success (Dubey and Gupta, 2018). It sets out future based needs &
requirements of workforce in relation to meet out business objectives over the specified time
period. It helps to keep an organisation with adequate number of staff in order to carry out

business operations in smooth manner. By applying such technique, it becomes easier to hire
right person, relevant skilled candidate with necessary qualification who could devote itself
towards achievement of business goals (Achour and Sarra, 2017).
HRM Strategies: It is considered as effective approach towards facing prevailing challenges and
difficulties in an organisation which is making it less favourable to achieve business long term
objectives (Bose and Gupta, 2017). Through HRM strategic management, such challenges and
difficulties could be dealt with in an effective manner so that organisational goals and targets
could be achieved in the given time period. It is about using innovation and creativity by HR
managers in order to achieve such objective. In this regard, HSBC Bank is using delegation of
authority in order to achieve timely completion of tasks in effective manner.
Various strengths and weaknesses of several approaches of recruitment and selection
Recruitment
Internal recruitment: It is a situation when company looks forward to fill out vacate
places from current workforce in order to eliminate extra cost.
Strengths:
 It is comparatively quick technique and easy to implement from company's point of view.
 It is considered as cost effective technique as it does not include any occurrence of extra
cost of the company (Shah and Aman, 2019).
Weaknesses:
 It might cause situation of internal conflicts which could hamper internal environment of
the company.
 It limits the opportunity of hiring potential candidates who could prosper business
organisation.
External recruitment: It is a condition in which a company is required to recruit an
individual from external environment of the company.(Ramaprasad and et. al., 2017)
Strengths:
 It promotes better competitive environment in the company.
 It helps in hiring skilled and qualified inputs for further growth of the company.
Weaknesses:
 It includes higher cost for ultimate hiring of the candidates which is considered as cost
ineffective structure.