Functional Aspects of Strategic Human Resource Management for HSBC

This report discusses the functional aspects of strategic human resource management that HSBC could have used to avoid the situation in Japan. It also reviews the strategic human resource policies that HSBC could adapt to suit different situations such as declining markets, innovatory organizations, and international context.

Strategic Human Resource
Management
1

INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................4
Identify and review the functional aspects of strategic human resource management that
HSBC could have used to avoid the situation in Japan..........................................................4
Critically review to determine the strategic human resource policies that HSBC could adapt to
suit different situations such as declining markets, innovatory organizations and international
context as discussed in the case, you may also suggest some relevant strategies to handle the
situation that at HSBC Japan..................................................................................................5
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
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INTRODUCTION
Human resource management is a strategic approach that aims towards efficient and
effective management of individuals within an organization or in a company and provides them
guidance and support in a manner to gain a competitive advantage in a respective industrial
sector. The human resource management approach mainly aims to enhance employee
performance to fulfill the organization’s strategic objectives and goals (Aiko, 2021). In context
with strategic human resource management, it is mainly termed as a connection between
organizational human resources and its objectives, strategies, and goals. With the help of
undertaking advantage of strategic human resource management organizations aim towards
increasing flexibility and innovation to gain a competitive edge in the industry. Strategic human
resource plays an important role and act as a foundation of a strong business as it helps an
organization to accomplish overall goals in a well-defined and effective manner. The present
report is conducted on the case study analysis of HSBC holding. In this report, formative
discussions have been conducted on a review of functional aspects of strategic human resource
management which is essential for HSBC to use to avoid the situation in Japan. Along with this
report include the strategic human resource policies that will help the organization to overcome
different situations and challenges.
MAIN BODY
Identify and review the functional aspects of strategic human resource management that HSBC
could have used to avoid the situation in Japan.
Strategic human resource management is mainly inclusive of traditional human resource
functions of interviewing, recruiting, screening, and hiring employees to align their performance
and roles and responsibilities with overall organization goals. In context with the present case
study analysis, it has been identified that HSBC engages in Japan and offers a range of financial
products and services which include trade services, asset management, commercial banking, cash
management, treasury project export, finance capital market, and customer service (Al-Rakhis
and Al-Rakhis, 2021). From the case study, it has been identified that HSBC add-ons on retail
banking operations in Japan, as the company faced certain issues in terms of language and
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recruitment barriers, decision-making problems, and technical compatibility which led HSBC to
leave the Japanese retail banking market. This case study identifies that the first major problem
that HSBC task forces faced in Japan is the language and recruitment barriers. It has been
evaluated that recruiting a local person who is both efficient in English and Japanese language,
costs higher operating costs to HSBC Japan branches. Along with this slow decision-making and
compatibility with technical aspects in terms of ATM and internet banking terms lead HSBC to
face many issues. In this, there are some certain functional aspects of strategic human resource
management that company can have undertaken to avoid the situation in Japan:
Tech tools and techniques
In this, the most important functional aspect of strategic human resource management is
taking advantage of tech tools and techniques. In this with the help of undertaking use of new
HR tools and techniques. For example, a needs assessment will lead HSBC to identify future
labor demand and availability (Boselie, Van Harten and Veld, 2021). This tool and technique
will help organizations to quickly increase the demand for specific employees who have value
and skills which will help them to conduct cost-effective operations.
Evaluate tools and training needed by employees for their roles
This functional aspect of strategic human resource manager at HSBC human resource
manager by determining mining tools needed by employees for their rules can accomplish or
overcome the situation at company faced in Japan. In this human resource manager with the help
of working in partnership with the different institutions can provide teams the best opportunities
for work efficiently by making them learn the Japanese language. This will significantly help
employees to appropriately conduct their roles and responsibility which will help organizations
to avoid the situation in Japan.
Performance metrics and corporate culture
According to this functional aspect of strategic human resource manager organization HR
department with the help of undertaking use of well-defined performance metrics with the
organization can conduct roles and responsibilities with the help of regular performance
evaluation. Along with this, reward schemes to employees for their high performance and
creativity in accomplishing their roles and offering of a corporate culture in which employees are
motivated to do their best to avoid the situation in Japan. HSBC with the help of motivated
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corporate culture and performance metrics can evaluate the regular performance of employees
and can further provide them training in terms of understanding of the Japanese language.
According to the above-mentioned analysis, it has been underlined that with the help of
conducting recruitment of candidates as per the roles and responsibilities of the company and
enhancing their skills and knowledge HSBC can avoid a situation in Japan, as in this company
can provide the language training in which employees can be well aware with the Japanese
language and can effectively perform their operations. Along with this to enhance the decision-
making process, HSBC can engage employees whether they are from Japanese culture can
effectively collaborate with them. With the help of undertaking and performing according to the
working condition in Japan HSBC can avoid the situation, as it is essential for an organization to
evaluate the market condition of a country to ensure successful operation. In this company with
the help of recruiting technically skilled candidates can accomplish their roles and
responsibilities effectively and can avoid the situations in Japan.
Critically review to determine the strategic human resource policies that HSBC could adapt to
suit different situations such as declining markets, innovatory organizations and
international context as discussed in the case, you may also suggest some relevant
strategies to handle the situation that at HSBC Japan
It is essential for an organisation to undertake effective strategic human resource policies
in order to effectively make them self-adaptive towards the situations and environment of
international market for an organisation who is operating their business operation on
international level. Company is required to evaluate business environment, cultural aspects and
technological aspects of a particular location and make them adaptive and implement strategies
to align organisational goals and objectives with the help of strategic human resource policies in
order to conduct successful business operation (Collins, 2021). In context with HSBC
organisation with the help of undertaking advantage of significant measures as strategic human
resource policies can overcome different challenges such as decision-making, language and
recruitment and technological challenges in a well-defined and effective manner. Mentioned
below strategies that will help HSBC to handle the situation in Japan is given:
Embrace cultural differences:
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For an organisation who is operating on different international platforms is required to
embrace cultural differences in order to frame strategies and policies. According to the major
issue that has been faced by HSBC in Japan is language barrier. In this it is essential for
company to make international employees well known with language. This will help
organisation to successfully overcome the challenges that they can face in that location and
further overcome this with the help of efficient strategies. This will help organisation to
successfully operate roles and responsibilities in a well defined and effective manner
(Ludwikowska, 2021). In terms of HSBC it is essential for company to identify cultural
perspectives of Japanese culture religion and embrace cultural differences. With the help of
embracing those prospective company can overcome challenges and can implement strategic
objectives with the help of enthusiastic and clear communication, which will help employees to
perform roles and responsibilities in effective way.
Leverage partnership:
In order to show long-term success in international business organisation is required to
leverage partnership with the help of forming strong relationship with consumers or other
competitive organisation. With the help of mutually beneficial partnership organisation can
successfully run international business in a well defined and effective manner.
Native cross-cultural trainer:
The major barrier that has been faced by HSBC in Japan is language barrier. In this it is
essential for company to make a little bit aware of the foreign business language in order to make
them conduct their roles and responsibilities in effective manner (Mitsakis, 2021). In this HSBC
with the help of native cross culture trainer HSBC can specialise employees by providing them
training. In this company can take advantage of specialised training the help of online tools and
techniques. With the help of training and cultural practice HSBC can smoothly run their
business operations and can overcome the language barrier.
Innovative approach:
In order to overcome technological barrier that has been faced by company in which
company faced technical incompatibility at ATM and internet tracking system, as due to
technical restrictions company is only required comply with local ATM and the internet banking
system. In this it is essential for company to have appropriate knowledge of the protocol and
technical standards of Japanese telecommunication network and implement innovative approach
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in order to be creative while managing their business operation (Reina and Scarozza, 2021 ). In
this HSBC is required to make changes according to the culture location and it is important for
organisation those who are operating on international platforms to subsequently conduct their
roles and responsibilities according to the culture of international market location. In this with
the help of an innovation company can comply with the protocol and technical standards of
Japanese telecommunication network and can further perform their roles and responsibilities in
effective manner.
HR analytics:
It is Essential for HSBC to undertake use of data analytics, as data is an important tool
that can be used by them to undertake important business decisions with management strategies.
With the help of taking use of HR analytics and sophisticated data models organisation can have
innovative ways to simplify real-time collaboration with the local market and understand job
search pattern in new country (Shanjabin and Oyshi, 2021). This will not only help HR manager
to embrace cultural awareness but will also help them to build strong relationships among
employees and management which helps in having productive work environment.
With the help of emphasising upon the strategic human resource policies HSBC could adopt
them according to different situations such as declining market and international context to
handle the situation that they faced in Japan (Shaw, 2021). These strategies will significantly
help organisation to perform their roles and responsibilities successfully in international market
segment.
CONCLUSION
Thus according to the above mentioned report strategic human resource management is
playing important role for organisation in which they can guide, motivate and align employees
performance roles and responsibilities with organisational objectives. This report identifies that
in order to successfully operate business on the international business market it is essential for
company to embrace cultural differences, leverage partnership and take advantage of native
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cross-cultural trainer, undertake use of efficient HR analytics and implement innovative
approach in order to seamlessly conductor roles and responsibilities while assuring success.
REFERENCES
Books and Journals
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Aiko, A.H., 2021. Relationship between Human Resource Strategies and Strategic Fit
Realization: A Review of Conceptual and Empirical Literature Perspective from
Japan. Journal of Strategic Management, 5(2), pp.8-16.
Al-Rakhis, M.M. and Al-Rakhis, F.M., 2021. The Impact of Modern Models on Strategic Human
Resources Management on Promoting Organizational Agility for Institutions, Analytical
and Descriptive Study.
Boselie, P., Van Harten, J. and Veld, M., 2021. A human resource management review on public
management and public administration research: Stop right there… before we go any
further…. Public Management Review, 23(4), pp.483-500.
Collins, C.J., 2021. Expanding the resource based view model of strategic human resource
management. The International Journal of Human Resource Management, 32(2),
pp.331-358.
Greer, C.R., 2021. Strategic human resource management. Pearson Custom Publishing.
Ludwikowska, K., 2021. The mediating role of employee-oriented human resource policy in the
relationship between strategic human resource management and organisational
performance. In Forum Scientiae Oeconomia (Vol. 9, No. 2, pp. 131-150).
Wydawnictwo Naukowe Akademii WSB.
Mitsakis, F., 2021. Strategic human resource development in times of business and economic
uncertainty: the case of Greek banks. European Journal of Training and Development.
Rees, G. and Smith, P. eds., 2021. Strategic human resource management: An international
perspective. Sage.
Reina, R. and Scarozza, D., 2021. Human Resource Management in the Public Administration.
In Organizational Development in Public Administration (pp. 61-101). Palgrave
Macmillan, Cham.
Shanjabin, S. and Oyshi, A.H., 2021. The comparative analysis of FMCG enterprises' vision,
mission, and core values focusing on strategic human resources. International Journal
of Financial, Accounting, and Management, 3(2), pp.115-128.
Shaw, J.D., 2021. The resource-based view and its use in strategic human resource management
research: The elegant and inglorious. Journal of Management, p.0149206321993543.
Vahabi, S., Solaimani, M. and Adel, A., 2021. The effect of strategic human resource
management on organizational performance with the mediating role of intellectual
capital in sports media staff of physical education schools in Tehran. Communication
Management in Sport Media.
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