Human Resource Management - Barclays plc Assignment Sample
Added on 2021-01-03
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HUMAN RESOURCEMANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................1P1 purpose and scope of HRM...............................................................................................1P2 Recruitment and selection approaches .............................................................................3P3 Advantage of HRM practice for employer and employee................................................7P4 Effectiveness of HRM Practice ........................................................................................8M 3 and D2......................................................................................................................................9Different methods used in HRM practices.............................................................................9P5 Importance of employee relation ...................................................................................11P6 Employment legislation and Human resources decision ................................................13M 4.................................................................................................................................................14Key aspect of employee relation management and employment legislation on decision making..............................................................................................................................................14P.7 Job specification documents...........................................................................................15M 5.................................................................................................................................................17Rationale application of HRM practices in work related context........................................17D 3..................................................................................................................................................17Employee relations and HRM practices that influence decision making......................................17CONCLUSION..............................................................................................................................18REFERENCES ...............................................................................................................................1
INTRODUCTIONHuman resource management is an effective approach which aims at managingprospective employees of the organization and make strategic plans to maximize employeeperformance to achieve organisational goals and objective.Barclays plc is a British banking financial service company which was founded on 17November, 1690. The core business of Barclays plc is investment banking, personal banking,corporate banking, financial services, wealth management and investment management(Lussierand Hendon, 2017). This study will highlight the main purpose and scope of the organization by retainingprospective and skilled workers who work together to attain business objective. This study also critically evaluates the key elements and practices of human resourcemanagement which help increase operational efficiency and productivity of the organization. Furthermore, it also highlights internal and external factors that influence the humanresource decision making. It also evaluates employment legislations which impact the workingof the organization and in strategic decision making (Morgeson, Brannick and Levine, 2019).Lastly, it also includes human resource management practices in a work related context toachieve organizational goals and objective effectively and efficiently.P1 purpose and scope of HRMHuman resources' management is a formal system which solely responsible formanagement of human capital in organization. Earlier Hrm purpose is limited to hire people onlybut now time has been changed thus, HR manager now responsible to metal, physical andfinancial well being of personnel. Following are the purpose and function of Barclays bank Hrmanager are given below:Function of HRMFulfil staff requirement HR managers are responsible to ensure right people on right time at right place. Toachieve that, they keep their eyes on vacant position in bank, define job and responsible,recruitment, design interview and selection process, reference check etc. manager constantlykeeps communication with all department managers to know staff need. HR also ensures that HRpractices are followed by legal compliance or not (Noe and et.al., 2017).
CompensationHR manager gather knowledge about pay scale currently prevailing in industry so thatfair payment can be offer to employees. They also comply law regarding employment andworkplace environment at federal, state and local level like The pension Act 2008, Equality Act2010 and so on.Benefits HR manager also deigned benefit to attract new people and to retain existing employeesin bank. Manager collect, analyse the information to carried out best package for their employeesalong with cost effectiveness to employer (Wood, 2018). Barclays bank gives health insurance,retirement plan, family insurance and casualty benefit, maternity leave etc. Performance AppraisalHR manager design the dimensions and process of performance evaluation which isconduct by bank periodically. Objective of performance review is to promote, demote andterminate the poor performer. HR has to keep special care regards this because wrong and biasedassessment might arise legal action again firm(Paauwe and Boon, 2018).Training And development T&D programs are arranged by manager after analyze the individual training andlearning need. Employees become more competence to perform more complex job when theirskill, knowledge are properly nourished.Purpose of HRMTo make the best utilization of human capital of bank.To maintain employee motivation, morale, job satisfaction via best HRM practice.Maintain healthy relation between employee and employer.To adhere legal and ethical practice in bank premises.Encourage belonging and team spirit among personnel(Cascio, 2015).M1Recruitment and selection process helps bank manager to avail require competency inpeople as manager clearly describe the skill, experience and knowledge for particular jobposition. This render pool of skill people, from where manager chooses best for given job. BestHRM policies and practice indirectly attract talent from market because everybody wants toattach their name with successful organization which provides the best employee treatment for2
their people as well . Business objectives are not static in nature, they also change with time andmarket position. Training and develop fill the gap between current skill and needed skilled toachieve organization goal. For instance Bank wants to increase their account opening, for whichHR manager try to excel marketing skill of marketing team.D1Internal and external recruitment and selection are two approach use by manager to fillany vacant position. Internal recruitment and selection is best for urgent hiring because manageralready have optimum knowledge but existing employees. But, internal hiring stops fresh talentsupply in bank. Also, it creates dysfunctional conflict. External hiring is time taking and costlyapproach but it brings fresh outlook in Firm. For instance Barclays bank HR generally gointernal option for higher authority position as these people already know organization culture.On the side external option are opted for operational level personnel(Wright, 2018).P2 Recruitment and selection approaches Recruitment and selection approaches comprises different method to reach the potentialemployee and various method to select the best person for a job. Selection of suitable method isdepends upon time, cost, number of vacant position, nature of job, skill and ability expectationand hiring policy of an organization (Chelladurai and Kerwin, 2018). Following are theapproaches uses by Barclays bank HR manager to attract and select people:3
External RecruitmentThis approach lay emphases on hire people from outside the bank. External sources usesby Barclays bank given belowAdvertisement- It is the most conventional way to announce hiring requirement in newspaper,trade journal, employment and educational magazines etc. all the needed skill are celery printalong with contact information. Bank now broadcast advertisement on electrical media likeeducational website, social sites, employment site, phone massage and E- reminders etc.Professional AssociationsEmployment Association work as pool between employer and would be employee. Theseassociations have information of candidate who seeks jobs. Bank manager can directly makecontact with these firm and choose the best applicant for them. It is best source to hire technicaland high level of personnel(HRM- Practices Employee-satisfaction-link-model, 2019).4Illustration 1: Internal and external recruitment(Meaning and Sources of Recruitment, 2019)
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