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(solved) Human Resource Management in HSBC Bank

   

Added on  2020-10-22

19 Pages5539 Words450 Views
Leadership ManagementProfessional DevelopmentLanguages and Culture
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Human ResourceManagement
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INTRODUCTIONHuman Resource Management is the process related with recruitment, selection, trainingand development of employees along with providing compensation benefits, motivatingemployees and maintaining proper relations with them within the organisation. This enables theemployees to work effectively and efficiently in order to attain organisational goals andobjectives. The present assignment is based on HSBC Bank which is engaged in providingfinancial services throughout the UK. It becomes seventh largest bank in the world havingheadquartered in London. In this The main purpose of HRM is to maximise productivity oforganisation by effectively utilising skills of employees. In this report, chosen organisation isHSBC Bank. It is a British Multinational banking and financial services as well as it is the 7thlargest bank in the world, headquartered in London (UK). This report analyse the purpose andfunctions of HRM as well as strengths and weaknesses of recruitment and selection in HSBCbank. It also determines benefits and effectiveness of different HRM practices. At last itdiscusses application of HR practices in work related context within the organisation.Purpose and Functions of HRM, applicable to work force planning and resourcing anorganisation. Human Resource Management is an approach which is related with managing of peoplewithin the organisation in order to maximise their performance and helps company to attaincompetitive advantages. In general, it is concerned with hiring ,motivating and maintaining workforce within organisation (Bailey and et. al., 2018).Purpose of HRM HRM is the coordination of all the employees within the organisation to achieve desiredgoals and objectives by adopting various practices such as training and development, rewardsand compensations etc. It supports HSBC brand in maintaining employee turnover at lower level.Employee's commitment towards work- Productivity within organisation is linked toemployee commitment and performance towards their work. HRM implements variousbest practices and plans for the betterment of employees which indirectly support inretaining experienced employees for longer duration. Employees are given extraincentives for their performance of work which increases their commitment towards workand benefits the organisation.
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Optimum Utilisation of resources- Main purpose of HRM is to enable respectiveorganisation to make optimum utilisation of available resources. They ensures thatemployees are working effectively and necessary training facilities are provided in orderto make effective use of resources and achieve goals and objectives(Brewster andHegewisch, 2017).Meeting with changing environmental needs- Business environment has becomecomplex due to changing individual needs as well as technological and politicaladvancements. HRM t HSBC bank provides training to its employees to work in differentsoftware, adopt and learn new ways of performing job. This reduces employee turnoverand maintain quality of workforce in bank.Purpose of HRM functions along with its roles and responsibilitiesRecruitmentand selection- HRM address the skills and capabilities of employeesaccording to the requirement within an organisation. This need could be fulfilled by therecruiting skilled candidates and maintains quality of work force in organisation. HRM atHSBC bank selects the candidate with most appropriate skills which will be beneficial forthe bank and organisation (Brewster, Chung and Sparrow, 2016).Main purpose of thisfunctions is to assist the respective company to recruit the best candidates who haveappropriate skills and knowledge to perform task efficiently and attain organisationalgoals. Roles and Responsibilities include analysing the skills and knowledge of thecandidates and selects them by taking proper decision based on the interview taken.Training and Development- It is the major function of HRM, which improves thecurrent and future performance of employees at HSBC bank. It could be done byproviding them adequate training and development needs to improve their skills andabilities and creates a friendly atmosphere at work place by maintaining quality ofworkforce.Its main purpose is to provide training to the employees which could enhancetheir skills and capabilities and able to perform effectively. Roles and responsibilitiesincludes providing effective on the job and off the job training facilities to employees aswell as clears all their problems regarding their performance of task in order to makethem effective in doing task.Maintaining effective employee relations- Employee's are the main resource of anorganisation. Effective employee relations influences the behaviour and work of the
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