HRM Strategies Australia Discussion 2022

Running head: HRM STRATEGIES
HRM STRATEGIES
Name of the Student:
Name of the University:
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HRM STRATEGIES1
Table of Contents
Introduction................................................................................................................................2
Discussion..................................................................................................................................2
Company Overview...............................................................................................................2
Strategic Human Resource Management (SHRM) at Westpac.............................................2
Importance of talent acquisition.............................................................................................3
Talent Acquisition at Westpac...............................................................................................4
Conclusion..................................................................................................................................5
References:.................................................................................................................................6

HRM STRATEGIES2
Introduction
In this modern era of unprecedented workforce mobility, several Australian
employers are emphasising on becoming “employer of choice” (Walker 2015). As a result of
this, employees today are enjoying more flexibilities and benefits than ever before.
Employers entice the applicants by means of hiring them for their soft skills, being more open
about the pay, giving flexible working hours etc. Workers expect more from their employers-
more accountability, more trust and more transparency. At the same time, employers too look
out for the candidates who have the ability of thinking more creatively, can adapt to change
quickly and can collaborate effectively. This paper shall elaborate on the process of talent
acquisition at Westpac, the first Australian bank to provide financial services.
Discussion
Company Overview
Westpac Banking Corporation or Westpac is an Australian bank that provides
financial services since its emergence in the year 1817 in Sydney. The business structure of
the company includes five divisions and they are- Consumer Bank, Business Bank,
Commercial Bank, Westpac Institutional Bank, BT Financial Group and Westpac New
Zealand (Blundell-wignall, Atkinson and Roulet 2018). All these five divisions serve more
than 12 billion of customers. However, it is to note that Westpac is considered to be the best
bank as it provides the investors an alternative prism through which they can assess the
profitability of the bank and value their equity and debt.
Strategic Human Resource Management (SHRM) at Westpac
It is to note that SHRM refers to the practice of attracting, rewarding, developing and
finally, retaining the employees for the benefit of both the employees and the organisation as
a whole. As per the theory of SHRM, human resource management (HRM) always has an