Human Resource Management in HSBC : Report
Added on 2020-06-04
11 Pages3350 Words34 Views
Human ResourceManagement
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Purpose and the functions of HRM, applicable to workforce planning and resourcing........1P2 Strength and weaknesses of different approaches to recruitment and selection....................3TASK 2............................................................................................................................................4P3 Benefits of different HRM practices for both the employer and employee...........................4P4 Effectiveness of different HRM practices in term of raising organizational profit andproductivity.................................................................................................................................5TASK 3............................................................................................................................................6P5 Importance of employee relation in respect to influencing HRM decision making..............6P6 Key elements of employment legislation and the impact it has upon HRM decision making.....................................................................................................................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONEmployees are the major part for every business organization because they execute theiractivities for attaining better results. In this manager play important role in managing workersand their performance in order to enhance overall productivity of the company. Basically HRMis an effective function which focus on managing as well as providing better direction to all thoseworkers who are work within the company (Park and et. al., 2014). With the help of this, firmeasily maintain better relation with their employees by providing them better welfare. Along withthis, human resource management also provide path to manager in order to accomplish entiregoals and objectives in appropriate time frame. It also include process of recruitment, selection,training and development, orientation which leads in attaining better performance of the workersat workplace. Present report is based on HSBC, is a British international bank which providevarious financial services to its customers in order to get their better satisfaction. In this, functionand purpose of HRM is mentioned in this report. Different recruitment methods and its strengthand weakness is also discussed. TASK 1P1 Purpose and the functions of HRM, applicable to workforce planning and resourcingHuman resource management is more important for every company because it helps inimproving overall performance level of the workers by managing their activities. In this manageralso play vital role in providing them better training and development programs to attain thesame in systematic manner. With the help of this they easily accomplish their goals andobjectives and also attain competitive advantage. Along with this, it is also important formanager of the company to provide positive and healthy work environment so that they retaintheir workers for long time period of time (Wagner, 2011). HRM concept help manager to recruitright person for right job at right time within the workplace which leads in enhancing theirworkers morale towards the works so that they effectively perform their activities and attainpositive results. In this context, there are some important function of HRM which follow byHSBC bank within their workplace are as follows:Planning: It is main function of HRM in which manager develop an effective planningprocess for entire business and workers activities so that they easily execute their work1
effectively. Basically it is an appropriate path which helps in providing better direction tostaff members. To attain the better results manager formulate an effective plan by usingvarious strategies which leads in improving the overall performance level of thecompany. Thus manager easily determine the vacant position of the company.Organising: This function comes after better planing process, in this manager determinethe workers needs in business organization. By this manager effectively manage and alsomaintain the better coordination among entire activities of the workers at workplace. Directing: The direction function of human resource management helps in encouragingworkers towards the work and activities in order to hit company goals and objectives(Functions of HRM, 2017). In this manager provide better guidance to its workers so thatthey get motivated and enhance their performance level. Controlling: It is also an important function of HRM in which manager includeobservation and comparison of entire results which helps in reducing the chances ofarising any kind of deviations. With the help of this manager of HSBC easily control aswell as monitor employees performance ion effective manner. Training and development: For enhancing the workers performance and productivity itis important for manager to provide them better training. With the help of this theyenhance their skills and knowledge towards the work so that they effectively deal withtheir task an maintain better relation with their subordinates. As a outcomes, productivityand performance will get enhances and appropriate way.Purpose of workforce planning: It is a systematic process which include an effective planningto forecast the human resource requirement within the organization. With the help of thismanager effectively recruit right skills employees at the right time and correct position whichprovide long term benefit to the company. In context of HSBC bank, manager utilize theirhuman resource in order to attain better results and also enhance their performance level. Alongwith this it also helps in establishing positive relation among all the employees at workplace. Along with the main purpose of HRM is to maximize productivity level of the companyby utilizing as well as optimizing the overall effectiveness of the workers at workplace. there aresome important purpose of human resources management in HSBC bank are as follows:2
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