HR Approaches Post COVID in UK Banking Sector

HOW HAS HR APPROACHES HAS
CHANGED POST COVID IN THE
BANKING SECTOR OF THE UK
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ABSTRACT
Purpose
The current research report is based on analysing the changes introduced by the
businesses within their HR policies so that to deal with complication of COVID-19 and to regain
business position after the crisis. The report has examined that COVID-19 has given massive
changes to the industries in which they adopted different measures so that to manage their
employees and to manage business functions as well. On the other hand, this has also examined
that these changes strategies are such as remote working, online recruitment and many others. So
that using these HR approach organisation may develop their businesses and acquire success.
Methodology
In the current research the investigator have used quantitative research methods so that to
align the research methods with objectives of the research. In this research, deductive research
approach is being used so that the research topic can be addressed.
Findings
From the current research this has been analysed that there are different HR approaches that can
be used by the banking sector of UK so that to manage business functions within the COVID
outbreak. Using such methods this will be easier so that to gain market success and to align
business functions with needs of their customers.
Practical implications
The present research study mainly emphasise on evaluating the extent the extent at which
HR approaches have been changed after the outbreak of COVID-19. In addition to this, present
research also offers aid in evaluating the roles of HR approaches to manage the changes
experienced by organisation after covid-19.
Originality/ Value
The aspects that has been duly collected through the present research significantly aid in
evaluating elements that affected organisation after covid-19 along with HR strategies to manage
them. This research significantly offer valuable in depth detail of HR strategies to manage
organisation after the pandemic.
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ACKNOWLEDGEMENT
First of all I would like to thank my parents for their blessing and support which they had
given to me throughout the research. I would also like to draw my gratitude to my professor as
they have helped me to manage my research in more appropriate manner. I would like to express
my gratitude to friends and team mates as they supported me throughout the journey in which I
was able to acquire higher opportunities to accomplish my research needs. At last I would like to
thank my seniors as well for assisting me in gaining authentic and accurate information.
Yours sincerely
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Table of Contents
ABSTRACT ....................................................................................................................................2
ACKNOWLEDGEMENT...............................................................................................................3
INTRODUCTION ..........................................................................................................................5
Overview of the topic.............................................................................................................5
Research aim..........................................................................................................................5
Research Objectives ..............................................................................................................6
Research Question..................................................................................................................6
Rationale of the research........................................................................................................6
LITERATURE REVIEW................................................................................................................7
What is concept and significance of HR approaches in context to banking sector?..............7
What are the changes in HR approaches in the UK banking sector after Covid-19?...........10
What are the challenges faced due to changes in HR approaches by banking sector in UK?13
RESEARCH METHODOLOGY...................................................................................................16
FINDINGS AND DISCUSSION ..................................................................................................19
Data analysis ........................................................................................................................19
Discussion.............................................................................................................................29
CONCLUSION AND RECOMMENDATIONS..........................................................................36
CONCLUSION....................................................................................................................36
RECOMMENDATIONS.....................................................................................................37
REFERENCES..............................................................................................................................39
APPENDIX....................................................................................................................................43
APPLICATION FOR ETHICAL CLEARANCE FORM....................................................43
Questionnaire .......................................................................................................................44
Frequency distribution table ................................................................................................45
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INTRODUCTION
Overview of the topic
The current study is based on the topic of human resource department which is
considered as the most important part of the company as it helps in recruiting and selecting
talented staff for working towards achieving the goals and objectives in the competitive market
(Zhu, 2019). The HR approaches are the most effective method that helps in deriving employees
to work more efficiently and effectively for achieving high growth and productivity in the
business market. Covid-19 has effected the banks adversely and this has reduced the working
capability of the employees to produce effective work quality. Covid-19 has resulted in
decreasing the value of the banks as customers are not visiting the bank for doing transactions
and for this the banks needs to improve their online presence so that they receive business online
also. Human resource management helps the bank in hiring employees online so that they do the
work according to the norms and procedures mentioned by the government. The HR department
mainly focuses on maximising the performance of the employees that are working for the
organisation towards the employer strategic goals. Human resource department is the soul of
every organization as it helps in motivating and inspiriting employees to do work for producing
more enhanced results and for gaining high success in the time of pandemic (Liu and Meyer,
2020). bank of the UK is of great importance from the view point of the customers as it helps in
delivering better service to the customer so that they receive huge business for enhanced growth
in the business market. The HR department mainly focus on developing online facilities so that
employees can work from heir home in order to get them prevented from the effect of the virus
(Bell, 2005). The current study defined about the importance and role of HR approaches in
reducing the impact of Covid-19 in the life of the employees that are working in the bank for
earning their basic livelihood. The research also identifies various challenges that bank face with
the effect of the Covid-19 across the world which results in decreased profitability and
productivity.
Research aim
The main aim of this research is “To identify how has HR approaches has changed post
coved in the banking sector of the UK”.
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Research Objectives
 To know the concept and significance of HR approaches in context to banking sector
 To understand the changes in HR approaches in the UK banking sector after Covid-19.
 To examine the challenges faced due to changes in HR approaches by banking sector in
UK.
Research Question
 What is concept and significance of HR approaches in context to banking sector?
 What are the changes in HR approaches in the UK banking sector after Covid-19?
 What are the challenges faced due to changes in HR approaches by banking sector in
UK?
Rationale of the research
The main purpose of carrying out thus present research is identifying the importance of
HR approaches in improving the position of the banks of the UK during Covid-19 pandemic.
This is considered as an important topic of the research that helps in gaining knowledge about
the given topic in an effective and efficient manner for the overall development of the bank
(Reis, 2018). The investigation is helps the researcher in gaining in depth information about the
chosen research topic so that future research can be conducted in a proper manner and quality
and reliable information for other researcher in case they want to perform future research. The
following research fulfils two types of objectives from the view point of the researcher which are
defined as personal and professional objectives. In context of personal objective, this helps the
researcher in gaining detailed information about the given selected topic so that the improve their
way of working and also for engaging in the working activities effectively and reliably. In
context of professional objectives, the researcher will gain effective information about the
chosen topic which is easily understandable. It helps the companies in gaining new and
innovative ideas fro dealing with the present situation effectively and efficiently.
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LITERATURE REVIEW
It is the chapter that covers second-hand in relation to the research topic. This is the
section which majorly focuses over addressing each research question with great quality
information. It is the chapter which holds major data about the whole investigation and also aims
at finding research gap by collecting in-depth insights. Some of the secondary sources used in the
current study are: books, publications, articles, magazines, newspapers and so on.
What is concept and significance of HR approaches in context to banking sector?
According to Shaban (2019), bank is one of the significant financial pillars of every
economy. In today's increasing volatile and complex business world, companies are putting great
efforts to continue their business operations and succeed. In an organisation, HRM practices hold
great importance because it helps in their survival and existence in the presence of high
competition. In simpler words, human resource management practices define the organisational
activities focused at managing employees and ensure the resources are used towards the
attainment of company's objectives and goals.
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Illustration 1: Functions of Human resource department
The above illustration states that there are 12 major functions of human resource
department which are associated with providing edge to the employees so that overall personal
and business benefits can be provided. The first function is related with career planning in which
HR personnels are needed to provide career planning for their employees so that they can be
retained for longer duration of time. Another major function is related with recruitment and
selection so that under this skilled employees are recruited so that employees skills and
capabilities can be used in order to attain business objectives. Another prominent function is
related with performance management which means that the HR department is needed to use
several methods so that they can manage individual employee performance and acquire success.
On the other hand, another function is related with providing health and safety measures to
employees so that they can enhance their time of retention can be increased. During the time of
COVID-19 the major focus of all the organisations were to increase safety and hygiene measures
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