Human Resource Management at HSBC: Approaches, Benefits, and Limitations

Human Resource
Management

Table of Contents
INTRODUCTION...........................................................................................................................3
SECTION 1......................................................................................................................................3
Introduction of HSBC including mission statements, and core business objectives..................3
Importance of workforce planning and role of strategic HRM ..................................................3
Approaches to recruitment and selection and its strength and weaknesses................................4
SECTION 2......................................................................................................................................5
Explain the benefits and limitations ...........................................................................................5
Relevance of HRM to organisational efficiency, effectiveness and profitability.......................7
SECTION 3......................................................................................................................................7
Importance of employee relation with respect to influencing HRM decision making...............7
Employment legislation and the impact it has on HRM decision making..................................8
Application of HRM practices and reasons for its application in organisation..........................8
Following documents are designed which includes job advertisement, job description, person
specification, interview questionnaire and appointment letter....................................................9
Interview Questionnaire:................................................................................................................11
REFERENCES:.............................................................................................................................14
Books and Journals...................................................................................................................14
Online........................................................................................................................................14

INTRODUCTION
Human resource management deals with the human behaviour in organisation. It includes
selecting, recruiting, orienting, inducting and training of people to carry out smooth operations
(Stone, Cox and Gavin, 2020). This report is in context to HSBC bank. It is a multinational
financial and investment bank established in 1865, in Hong Kong. It started its operations in 14
August 1866. This report includes the missions, objectives and statements of HSBC. Also, its
approaches, benefits and limitations, importance of employee relations in decision making and
practices of HRM will going to discuss in this report. It also includes legislation of employees,
job advertisement, job specification, person specification, interview questionnaire and
appointment letter.
MAIN BODY
SECTION 1
Introduction of HSBC including mission statements, and core business objectives.
HSBC is a public limited company and located in different countries and boundaries like
South America, North America, Europe and Africa. It started its operation in three different
groups which are global banking and markets, commercial banking, wealth and personal
banking.
Mission: HSBC aims for providing best products and services to their clients all over the globe
(Macke and Genari, 2019). They train their employees and make them efficient so that can
achieve desired goals and targets.
Objectives: These are the core values which business aim to provide their customers with
higher profitability. Objectives of HSBC are mentioned below:
 To grab the opportunities from all over the world and bring ideas, people and capital
together to serve their clients in best possible ways.
 To provide different type of loans to their customers such as business loans, personal
loans and mortgages. (What are the objectives of HSBC?, 2020).
Importance of workforce planning and role of strategic HRM
Workforce planning refers to the appointment of right people to fulfil the demands for
management and operations according to their knowledge, experiences and skills (Zhang and
et.al.,2021). It is very important because it allows managers to make strategic decisions and plans

which help them to compete in global world. It allows future predictions so that upcoming risks
can be identified and corrective measures and precautions can be taken against them. It helps in
creating various programs and ideas which are essential for organisation. HSBC also formulate
workforce plan which determine the tasks which are carried out for the success of organisation.
Strategic HRM plays a critical role in considering the resources need for global business. It helps
in identification of problems and evaluating the solution for them. Strategic HRM promotes the
goals and aims of the HSBC bank and create workforce which is dedicated, loyal, efficient,
hardworking and productive in nature. This will help HSBC in capturing the opportunities over
the boundaries which increases their profitability in effective manner.
Approaches to recruitment and selection and its strength and weaknesses.
Recruitment
Internal recruitment
 Re-employment: In this type of recruitment, organisations hire their previous employees
who worked with them already in past.
Strength Weakness
It is time saving and cost effective. It also
enhance the dedication level of existing
employees.
It disturbs other employees and create negative
effect which may cause job dissatisfaction
because of change in position and lack of job
security.
External recruitment
 Direct advertising: This involves advertisement on social media, career websites, job
boards and industry publications. It attracts large number of people at the same time.
Strength Weakness
External: It appoints fresh and skilled
candidates in large pool.
External: Results in higher cost and time
consuming.
Selection