Importance of HRM in HSBC Bank

HUMAN
RESOURCE
MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................4
TASK A.......................................................................................................................................4
HR strategy creating Value..........................................................................................................4
TASK B.......................................................................................................................................5
The influence of Regional and National Culture on practice of HRM -.....................................5
TASK-C.......................................................................................................................................5
Employment Model.....................................................................................................................5
TASK D.......................................................................................................................................6
Practices used by HSBC in Asian/African Countries..................................................................6
TASK - E.....................................................................................................................................7
Considering the importance of local culture and HRM practices at the time of hiring or firing
and practices carry out in international HRM..............................................................................7
TASK-F.......................................................................................................................................8
Differences in terms of employment laws when international HRM changes local business
systems.........................................................................................................................................8
TASK G.......................................................................................................................................9
Suggestions to employers regarding HRM practices ensuring the high performance for the
Organization -..............................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES................................................................................................................................1

INTRODUCTION
Human Resource Management refers the process by which the organization employs people,
provide them training, compensate them for their work, develops policies related to people
working and formulate strategies to retain them. In simple terms, it is the practice of managing
and supervising people to achieve their best performance. Human resource Management plays a
crucial role in every company as it not only formulate the policies & procedures and to hire
candidates but also use strategic plans to make sure the right candidates are hired and trained for
the correct job at the right time.
HSBC Holdings plc commonly known as HSBC is British global investment bank and financial
services company. It was originated from hong in British Hong Kong but its present form is
headquartered in London, UK by Hongkong and Shanghai Banking Corporation to act as a new
form of holding company in 1991. This Banking company have its presence in various countries
across Europe, Africa, USA and Asia. Earlier the company's business was organized into 4
groups – Commercial Banking, Retail and Wealth Management Banking, Global private banking
and Global Banking and Markets. But recently HSBC Bank announced that it will merge its
retail and wealth management business with the global private banking.
Report examines how value was created by the HSBC bank using the concept of strategic HRM
and analyse the influence of regional and national culture on the practice of HRM in India. This
report also use appropriate model of employment and state the organizational levers used by the
HSBC to create value. Using the Storey's 27 states what is being practised by the HSBC Bank in
Asian/ African Country, HRM policies or Personnel Management. Further, the report discuss the
significance of local culture in hiring and firing, examines the difference in terms of employment
law in internal and domestic market and provide suggestions regarding HRM practises.

MAIN BODY
TASK A.
HR strategy creating Value
Earlier HR department only focused on recruiting employees, but to create the value strategic
HRM was introduced. Strategic Human Resource Management refers to the combination of
Strategy and HRM. In simple words, it can be defined as the process which is future oriented and
helps in developing and implementing HR programs that address business issues and contribute
in long term goal (Brewster, 2017).
Strategy for HSBC that Creates value is that it creates the work environment which is engaged,
loyal and productive. HRM of HSBC considers some tools while developing the strategic plan
which creates the brand image of the company and attract people to work with them.
Competitive Salaries – Company offers competitive salaries to its employees according to their
experience, skills and performance at workplace.
Enviable Benefit Packages – to attract the talent o work with them company has to offer high
packages with some attractive benefits so that candidate chooses the company.
Promotional Opportunities – Company for its own growth and development have to provide its
employees the growth in their career then only they will be committed to the company.
Training and development – HSBC focuses on providing the best training and development to its
employees so that he can have expertise and in that area and helps Company efficiently achieve
goal.
Employee Autonomy – This is the most important factor that creates value in the company,
HSBC provides its employees autonomy in decision making and suggesting ideas that can be
helpful for companies growth (Shamim and et.al., 2016).
In today’s competitive environment for the company to be in race, it is important for the
company to come up with such HR practices which are innovative, flexible and gives company
competitive advantage over its rivals. HSBC always tries its best to come with such HR practices
that increases the employee’s job satisfaction by providing them flexible working hours, good
compensation. This company also tries to provide such work culture where the employees feel
that they are essential for the company. By satisfying employees, employees work with more
dedication and that results in improved rates of customer satisfaction which results in overall
growth of the company (Michael, 2019).