Importance of Workforce Planning and HRM Practices in HSBC Bank

HSBC Bank Human
Resources
Management
1

INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Section 1...........................................................................................................................................3
Brief introduction of HSBC bank Plc.....................................................................................3
Importance of workforce planning to the goals of the organisation, and consider the role
strategic HRM plays when considering resourcing needs for a global business....................4
Strengths and weaknesses of different approaches to recruitment and selection...................5
Section 2...........................................................................................................................................6
Explain the benefits and limitations of HRM practices for HSBC and the employee..........6
Section 3...........................................................................................................................................9
Importance of employee relations with respect to influencing HRM decision making.........9
Key elements of employment legislation and the impact it has on HRM decision-making. .9
Application of HRM practices..............................................................................................10
Hospitality industrial segment CONCLUSION.............................................................................12
REFERENCES..............................................................................................................................14
APPENDIX....................................................................................................................................15
2

INTRODUCTION
Human resource management is defined as a process that includes selection, recruitment
provision related to training and development opportunity to employees and more. It is essential
for an HR manager to make sure that there is proper coordination of work as well as a systematic
process in order to accomplish organisational objectives while enhancing employee’s growth and
development (Alfes and et. al., 2013). Present report has been conducted on HSBC which is
performing its role and responsibilities in financial service sector. Present report include
importance of workforce planning along with the strength and weakness of different approaches
of recruitment and selection. In addition to this benefit and limitation of for employees in HSBC
is included in this report.
MAIN BODY
Section 1
Brief introduction of HSBC bank Plc
HSBC Holdings PLC was founded by Sir Thomas Sutherland and headquartered in
London, England, United Kingdom. This organisation is operating its business operations in
financial service industry and is serving worldwide. Main product of this company is financial
services and it is conducting its business operations with more than 22, 60,059 employees.
Mission statement
3

“To be one of the world’s great specialist banking groups, driven by commitment to our
core values and philosophy”
Core business objectives
 Connected to regulators, customers, communities and each other
 Communicate transparently, openly, honestly and treat customers and stakeholders fairly
 Deliver services with trustworthiness and help individuals to fulfil their dreams and hopes
Importance of workforce planning to the goals of the organisation, and consider the role strategic
HRM plays when considering resourcing needs for a global business
Workforce planning play important role for an organisation in order to conduct their business
operations in this manner (Chelladurai and Kerwin, 2017). It is essential for company to
implement workforce strategic planning in order to accomplish business goals and objectives.
Workforce planning is defined as an action plan that aid company to meet that desired long-term
goals in order to effectively maintain long-term success. Furthermore it has been underlined that
for each and every business organisation workforce planning in staff is key essential aspect to
ensure long-term sustainability. Workforce planning is identified as an essential element that
enhance quality and skills of workforce through which company can achieve its goal in effective
manner in relevant time. Workforce planning helps business to resilience to change as well as
effectively says challenges in a proactive and positive manner. Workforce planning allow
organisation to identify present in existing workforce and further provide them training as well as
assistance in order to enhance their satisfaction.
Role strategic HRM plays when considering resourcing needs for a global business
Strategic human resource management define as going beyond administrative tasks such as
payroll processing. Managers and leaders with an entity are required to think more deeply as well
as broadly about the manner in which employee can contribute in organisation success. It is
essential for all the executive and managers to involve, gaining more competitive advancements.
With the help of strategic human resources management organisation can develop effective
international workforce and can implement strategic human resource when considering resource
needs for global business, as with the help of this company can balance the need to co-ordinate
4