HSBC HRM Practices and UK Regulations
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This assignment analyzes the crucial role of Human Resource Management (HRM) within HSBC. It highlights how effective HRM practices contribute to employee well-being, enhance service quality for customers, and ensure compliance with UK banking regulations. The report specifically examines HSBC's commitment to equal opportunities and safe working environments for all employees, regardless of background.
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HUMAN RESOURCE
MANAGEMENT
MANAGEMENT
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TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. The purpose and functions of human resource management at HSBC................................1
(Source: Strategic human resource management, 2008).............................................................2
P2. Strengths and weaknesses of recruitment and selection process adopted at HSBC.............4
P3 Benefits of HRM practices to employee and employer of HSBC.........................................5
P4 Effectiveness of HRM practices in terms of raising profit and productivity of HSBC bank.
.....................................................................................................................................................7
P5 Impact of employee relations at HSBC on HRM decision -making......................................8
P6 Key elements of employment legislation and its impact on decision making of HSBC.......9
P7 Application of HRM practices.............................................................................................11
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. The purpose and functions of human resource management at HSBC................................1
(Source: Strategic human resource management, 2008).............................................................2
P2. Strengths and weaknesses of recruitment and selection process adopted at HSBC.............4
P3 Benefits of HRM practices to employee and employer of HSBC.........................................5
P4 Effectiveness of HRM practices in terms of raising profit and productivity of HSBC bank.
.....................................................................................................................................................7
P5 Impact of employee relations at HSBC on HRM decision -making......................................8
P6 Key elements of employment legislation and its impact on decision making of HSBC.......9
P7 Application of HRM practices.............................................................................................11
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15
INTRODUCTION
The function of human resource management in an organization is enormous; it implies
to both workers and the company as well as help in achieving the organisational objectives in
relation to the needs and desires of employees. The human resources are vital to an organization
as their distinctive culture and structure helps in achieving competitive advantage for the
organization. The strategic deployment of resources in a correct manner is a major task
performed by human resource management.
Hongkong and Shanghai Banking Corporation is formally known as HSBC which is
amongst ten top banks of United Kingdom found in the year 1865 by Sir Thomas Sutherland.
Bank earned a total revenue of US$51.445 billion last year and is known as the world's local
bank. The bank focuses on talent management for retaining excellent and talented workers in
organisation at all levels.
TASK 1
P1. The purpose and functions of human resource management at HSBC
HSBC has a total of 228,687 employees in all its departments carrying out banking
operations efficiently. Every human resource department has certain roles and functions which
are needed to be performed. HR personnel is responsible for carrying out recruitment, selection,
staffing and controlling activities.
Nature of HRM
HRM is a management discipline or field of study which is responsible for managing
resources of organization effectually. As it is concerned with employees and workers, it is present
at all levels of the organization. At HSBC, HRM’s role is to direct employees towards attainment
of organizational objectives and thereby, building relationship amongst themselves.
Scope of strategic HRM
The scope of human resource management is wide and covers all aspects related to
employees. It starts from planning of employees, effect of employee’s relation with each other
and recruitment and selection of employees as well as their training and development. The
different purpose of HRM and various roles performed by HR personnel are:
1
The function of human resource management in an organization is enormous; it implies
to both workers and the company as well as help in achieving the organisational objectives in
relation to the needs and desires of employees. The human resources are vital to an organization
as their distinctive culture and structure helps in achieving competitive advantage for the
organization. The strategic deployment of resources in a correct manner is a major task
performed by human resource management.
Hongkong and Shanghai Banking Corporation is formally known as HSBC which is
amongst ten top banks of United Kingdom found in the year 1865 by Sir Thomas Sutherland.
Bank earned a total revenue of US$51.445 billion last year and is known as the world's local
bank. The bank focuses on talent management for retaining excellent and talented workers in
organisation at all levels.
TASK 1
P1. The purpose and functions of human resource management at HSBC
HSBC has a total of 228,687 employees in all its departments carrying out banking
operations efficiently. Every human resource department has certain roles and functions which
are needed to be performed. HR personnel is responsible for carrying out recruitment, selection,
staffing and controlling activities.
Nature of HRM
HRM is a management discipline or field of study which is responsible for managing
resources of organization effectually. As it is concerned with employees and workers, it is present
at all levels of the organization. At HSBC, HRM’s role is to direct employees towards attainment
of organizational objectives and thereby, building relationship amongst themselves.
Scope of strategic HRM
The scope of human resource management is wide and covers all aspects related to
employees. It starts from planning of employees, effect of employee’s relation with each other
and recruitment and selection of employees as well as their training and development. The
different purpose of HRM and various roles performed by HR personnel are:
1
(Source: Strategic human resource management, 2008)
Planning and Forecasting
Human resource manager at HSBC is responsible for planning of resources by checking
on vacant positions as well as excess availability of employees in a particular department. HR
personnel identifies talented resources and allocate them to right place with right work so as to
attain objective of the organization. They continuously evaluate the demand and supply of
individuals in market place and develop strategies to work upon it. This helps the company in
managing its operation in an effective manner and also helps customers by rendering quality and
sound services.
Recruitment and selection
In general terms, recruitment refers to various practices carried out by the business firm
so as to identify talented prospects for the organization. The recruitment process at HSBC
2
Illustration 1: Scope of HRM
Planning and Forecasting
Human resource manager at HSBC is responsible for planning of resources by checking
on vacant positions as well as excess availability of employees in a particular department. HR
personnel identifies talented resources and allocate them to right place with right work so as to
attain objective of the organization. They continuously evaluate the demand and supply of
individuals in market place and develop strategies to work upon it. This helps the company in
managing its operation in an effective manner and also helps customers by rendering quality and
sound services.
Recruitment and selection
In general terms, recruitment refers to various practices carried out by the business firm
so as to identify talented prospects for the organization. The recruitment process at HSBC
2
Illustration 1: Scope of HRM
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includes submission of online CV which is then evaluated by human resource personnel and
potential candidates are invited for the ability test. The recruitment process is then continued
with selection process. All prosperous people cleared at ability test are then called for an
interview which is directed towards candidate’s abilities and skills needed for the job. Potential
individual ethics, values and culture should be in line with the banking atmosphere so as to make
working a better experience.
Monitoring of Employees
HR personnel continuously evaluate the performance of employees at the bank through
various processes so as to manage work accordingly. A 360 degree review and feedback is
calculated for every employee by human resource personnel at HSBC. Various induction
programs are arranged for monitoring the employees and directing them towards achievement of
bank objectives. The reviewing of performance of employees helps personnel in deciding their
future position through various appraisals and promotions.
Training and Developments
It is of utmost importance for the manager of bank to arrange training and development of
employees so as to enhance their performance. It has to be conducted at all levels irrespective of
date of joining of employees as training helps to evolve workers to achieve the best possible
outcomes. Additionally, company is able to boost the career opportunities of employees by
offering them training on regular basis. This certainly motivates employees and hence, aids in
boosting the overall performance level of worker at HSBC. Rewards and Recognition:
HSBC has a planned format for rewarding employees through appraisals and promotions
whenever necessary. Recognition in front of team is adopted at HSBC bank which motivates
employees to perform better than others. Rewards are provided in the form of incentives, awards
and gift vouchers or cards. On the other hand, recognition is done on social sites as well as on
notice board which fulfils a social satisfaction feeling of employees.
Hard and Soft HRM approaches:
The two models benefit employees in respective manner. The hard approach refers to
meet the performance criteria so as to obtain organizational objectives. Whereas, the soft
3
potential candidates are invited for the ability test. The recruitment process is then continued
with selection process. All prosperous people cleared at ability test are then called for an
interview which is directed towards candidate’s abilities and skills needed for the job. Potential
individual ethics, values and culture should be in line with the banking atmosphere so as to make
working a better experience.
Monitoring of Employees
HR personnel continuously evaluate the performance of employees at the bank through
various processes so as to manage work accordingly. A 360 degree review and feedback is
calculated for every employee by human resource personnel at HSBC. Various induction
programs are arranged for monitoring the employees and directing them towards achievement of
bank objectives. The reviewing of performance of employees helps personnel in deciding their
future position through various appraisals and promotions.
Training and Developments
It is of utmost importance for the manager of bank to arrange training and development of
employees so as to enhance their performance. It has to be conducted at all levels irrespective of
date of joining of employees as training helps to evolve workers to achieve the best possible
outcomes. Additionally, company is able to boost the career opportunities of employees by
offering them training on regular basis. This certainly motivates employees and hence, aids in
boosting the overall performance level of worker at HSBC. Rewards and Recognition:
HSBC has a planned format for rewarding employees through appraisals and promotions
whenever necessary. Recognition in front of team is adopted at HSBC bank which motivates
employees to perform better than others. Rewards are provided in the form of incentives, awards
and gift vouchers or cards. On the other hand, recognition is done on social sites as well as on
notice board which fulfils a social satisfaction feeling of employees.
Hard and Soft HRM approaches:
The two models benefit employees in respective manner. The hard approach refers to
meet the performance criteria so as to obtain organizational objectives. Whereas, the soft
3
approach focuses on providing employees with proper benefit to grow within the organization by
accomplishing tasks. HSBC uses the soft approach towards employees which enhances their
creativity and thereby fulfilling bank's objectives.
P2. Strengths and weaknesses of recruitment and selection process adopted at HSBC
The process of recruitment and selection involves human resource personnel to plan and
carry out various internal and external activities. Recruitment is a fundamental process that
involves filling of vacant positions in an organization. On the other hand, selection refers to a
critical process which is also a negative aspect and implies choosing the best amongst all by
providing job.
Strengths of recruitment and selection process
Recruitment done internally refers to filling of vacant position from the organization itself
by shifting or promoting employees. HSBC involves internal recruitment process as they believe
that the trained employees are worth more than fresher recruited from the market. It saves the
cost of training and development as internal workers are potential enough to carry out bank
operations effectively. On the other hand, external recruitment is taken into consideration when
organizations are expanding their base and new and fresh talent is necessary to enhance benefits.
Recruitment process from external sources is a time consuming and costly activity which though
brings in new faces and dynamic personalities to the bank so as to achieve operations.
The selection process involves screening of the best candidates from amongst the
recruited ones and carry out various tests so as to reject the ones not suitable for the position.
This gives HSBC a comparative advantage by selecting the best talent for the bank. Various tests
used for selecting candidates at HSBC are Achievement, Intelligence, Personality, Aptitude and
Interest Test.
Weaknesses of recruitment and selection process:
The recruitment process done internally or externally has certain limitations. The internal
recruitment can be based on biased nature of employer which helps gain more power to few
favourable people. The external recruitment process has disadvantage as it is an expensive
criteria which consumes a lot of time and cautiousness of HR personnel at HSBC. It undergoes
several steps to identify the best candidate and involves a long process of selection and
4
accomplishing tasks. HSBC uses the soft approach towards employees which enhances their
creativity and thereby fulfilling bank's objectives.
P2. Strengths and weaknesses of recruitment and selection process adopted at HSBC
The process of recruitment and selection involves human resource personnel to plan and
carry out various internal and external activities. Recruitment is a fundamental process that
involves filling of vacant positions in an organization. On the other hand, selection refers to a
critical process which is also a negative aspect and implies choosing the best amongst all by
providing job.
Strengths of recruitment and selection process
Recruitment done internally refers to filling of vacant position from the organization itself
by shifting or promoting employees. HSBC involves internal recruitment process as they believe
that the trained employees are worth more than fresher recruited from the market. It saves the
cost of training and development as internal workers are potential enough to carry out bank
operations effectively. On the other hand, external recruitment is taken into consideration when
organizations are expanding their base and new and fresh talent is necessary to enhance benefits.
Recruitment process from external sources is a time consuming and costly activity which though
brings in new faces and dynamic personalities to the bank so as to achieve operations.
The selection process involves screening of the best candidates from amongst the
recruited ones and carry out various tests so as to reject the ones not suitable for the position.
This gives HSBC a comparative advantage by selecting the best talent for the bank. Various tests
used for selecting candidates at HSBC are Achievement, Intelligence, Personality, Aptitude and
Interest Test.
Weaknesses of recruitment and selection process:
The recruitment process done internally or externally has certain limitations. The internal
recruitment can be based on biased nature of employer which helps gain more power to few
favourable people. The external recruitment process has disadvantage as it is an expensive
criteria which consumes a lot of time and cautiousness of HR personnel at HSBC. It undergoes
several steps to identify the best candidate and involves a long process of selection and
4
screening. The external process is based on advertisement on TV, magazines, newspaper and
print media which involves a lot of expenditure initially and incurs training expenses afterwards.
The selection process in itself is a negative aspect which involves rejecting of candidates
due to peculiar differences. This creates a negative image in the minds of people applying for job
at a particular organization. At HSBC, various criteria has been undertaken to eliminate the
negative aspect of selection process so as to build an effective image.
P3 Benefits of HRM practices to employee and employer of HSBC.
HRM practices helps employees and employer achieve success and fulfil their personal
desires thereby accomplishing organizational goals. At HSBC management involves controlling
various activities of both employer and employee so as to attain organizational objectives. In
addition to it, employee relation is a legal aspect among employee and
employer that aids in offering right to employees along with significant opposition at the
workplace. Various benefits of HRM practices are:
Encouraging positive behaviour:
HSBC provides a healthy working environment to its employees which encourages
building relationship with employers. HRM practices are provided which benefits employees
favourably by motivating them to perform better so as to achieve standards. Various laws and
regulations are being establish at bank for helping employees fulfil their needs along with
company's objectives. The HR personnel carry out such practices which benefits both the
employees and employer simultaneously.
Retaining talented employees:
HSBC focuses on retaining talented and qualified employees by providing promotions
and internal recruitment for various top positions. Thus, they manage risk of new changes and
helps attain bank objectives effectively. The bank HR manager emphasizes on providing benefits
to employees and employer in a way which motivates them to perform better thereby
accomplishing their tasks. The retention saves a lot of talent and thus saves cost of recruiting
external candidates.
Learning and Development of employees:
5
print media which involves a lot of expenditure initially and incurs training expenses afterwards.
The selection process in itself is a negative aspect which involves rejecting of candidates
due to peculiar differences. This creates a negative image in the minds of people applying for job
at a particular organization. At HSBC, various criteria has been undertaken to eliminate the
negative aspect of selection process so as to build an effective image.
P3 Benefits of HRM practices to employee and employer of HSBC.
HRM practices helps employees and employer achieve success and fulfil their personal
desires thereby accomplishing organizational goals. At HSBC management involves controlling
various activities of both employer and employee so as to attain organizational objectives. In
addition to it, employee relation is a legal aspect among employee and
employer that aids in offering right to employees along with significant opposition at the
workplace. Various benefits of HRM practices are:
Encouraging positive behaviour:
HSBC provides a healthy working environment to its employees which encourages
building relationship with employers. HRM practices are provided which benefits employees
favourably by motivating them to perform better so as to achieve standards. Various laws and
regulations are being establish at bank for helping employees fulfil their needs along with
company's objectives. The HR personnel carry out such practices which benefits both the
employees and employer simultaneously.
Retaining talented employees:
HSBC focuses on retaining talented and qualified employees by providing promotions
and internal recruitment for various top positions. Thus, they manage risk of new changes and
helps attain bank objectives effectively. The bank HR manager emphasizes on providing benefits
to employees and employer in a way which motivates them to perform better thereby
accomplishing their tasks. The retention saves a lot of talent and thus saves cost of recruiting
external candidates.
Learning and Development of employees:
5
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HRM practices helps employees in development of their skills necessary for organization
as well as for their personal development. Hongkong and Shanghai Banking Corporation
provides various training and development programs accompanied by employers to help
employees achieve greater success. Its competitive advantage is increased by their employees
knowledge and skills. HSBC bank has made HRM as their one of the effective capital resource
for helping employees as well as employers to improve with time.
Managing and improving performance:
The HSBC has developed its performance management system which provides rewards
and recognition to employees while motivating them to achieve standards. Such activities
enhances productivity of employees which impacts on their overall performance. A series of
rewards and recognition are provided to excellent employees for their work which impel them to
work harder by using effective performance management system.
Maintaining ideal relations:
Employee relation is one of the significant part of organization that helps in gaining high
amount of support from the employees. The HRM practices focuses on developing good
relations among employee and employer which enhances work culture and brings collaboration
of activities so as to accomplish tasks mutually. Ideal relationship is essential in a banking
environment as every task is interrelated to each other and personal conflicts may hinder
organizational goals.
Motivating workforce:
Another benefit provided by HRM through their practices is motivation to employees.
Managers at HSBC tries to maximize performance of employees by providing motivation at each
step. They make employees feel unique and talented which helps them to perform better. This
feeling of individuality ultimately increases productivity thereby helping bank personnel
achieves its objectives both effectively and efficiently.
Building a flexible work environment:
A flexible and positive working environment is crucial which Hongkong and Shanghai
Banking Corporation HR practices reflects upon by creating such an environment. The
workforce today is diverse and culturally different which needs to be provided a flexible working
6
as well as for their personal development. Hongkong and Shanghai Banking Corporation
provides various training and development programs accompanied by employers to help
employees achieve greater success. Its competitive advantage is increased by their employees
knowledge and skills. HSBC bank has made HRM as their one of the effective capital resource
for helping employees as well as employers to improve with time.
Managing and improving performance:
The HSBC has developed its performance management system which provides rewards
and recognition to employees while motivating them to achieve standards. Such activities
enhances productivity of employees which impacts on their overall performance. A series of
rewards and recognition are provided to excellent employees for their work which impel them to
work harder by using effective performance management system.
Maintaining ideal relations:
Employee relation is one of the significant part of organization that helps in gaining high
amount of support from the employees. The HRM practices focuses on developing good
relations among employee and employer which enhances work culture and brings collaboration
of activities so as to accomplish tasks mutually. Ideal relationship is essential in a banking
environment as every task is interrelated to each other and personal conflicts may hinder
organizational goals.
Motivating workforce:
Another benefit provided by HRM through their practices is motivation to employees.
Managers at HSBC tries to maximize performance of employees by providing motivation at each
step. They make employees feel unique and talented which helps them to perform better. This
feeling of individuality ultimately increases productivity thereby helping bank personnel
achieves its objectives both effectively and efficiently.
Building a flexible work environment:
A flexible and positive working environment is crucial which Hongkong and Shanghai
Banking Corporation HR practices reflects upon by creating such an environment. The
workforce today is diverse and culturally different which needs to be provided a flexible working
6
condition so they feel comfortable and work effectively.
P4 Effectiveness of HRM practices in terms of raising profit and productivity of HSBC bank.
The HRM practices of Hongkong and Shanghai Banking Corporation are very crucial
and effective in enhancing profit margins and productivity ratios. The net operating profit earned
by HSBC in last year amounts to US$51.445 billion which has forecasted to rise in future. The
various factors which affects HSBC profit and productivity are:
Innovativeness of employees:
HSBC helps in improving performances of talented employees by implementing their
innovative ideas and thinking into daily process. This enhances productivity of employees
thereby impacting overall growth performance of bank. The new ideas and methods give
competitive advantage to the bank thereby increasing their profit margins and overall
productivity of achieving targets.
Motivation and high performance of employees:
At HSBC HRM practices are effective in motivating employees to perform better which
will impact on their profitability as well as employee will be gaining more incentives. The
mangers of bank provides effective programs and strategies to employees which helps them to
perform better. Another role encompasses by leaders and managers at bank is recruitment of
qualified employees for the right place which will provide organization sustainability in terms of
profit and productivity.
Achieving goals with effective communication techniques:
Communication is of utmost important for success and continuous growth of an
organization. Effective communication help achieve goals in a better way. HR personnel works
on providing information to each and every employee and rechecks on effective flow of
information so as to enhance productivity. Communication gap may lead to poor management at
bank which will impact overall productivity. Thus HSBC, focuses on providing effective means
of communication to all employees which will enhance their productivity and as such the profit
margins.
Reward based performances:
Rewards are crucial for making productivity meets standards. The HR practices
7
P4 Effectiveness of HRM practices in terms of raising profit and productivity of HSBC bank.
The HRM practices of Hongkong and Shanghai Banking Corporation are very crucial
and effective in enhancing profit margins and productivity ratios. The net operating profit earned
by HSBC in last year amounts to US$51.445 billion which has forecasted to rise in future. The
various factors which affects HSBC profit and productivity are:
Innovativeness of employees:
HSBC helps in improving performances of talented employees by implementing their
innovative ideas and thinking into daily process. This enhances productivity of employees
thereby impacting overall growth performance of bank. The new ideas and methods give
competitive advantage to the bank thereby increasing their profit margins and overall
productivity of achieving targets.
Motivation and high performance of employees:
At HSBC HRM practices are effective in motivating employees to perform better which
will impact on their profitability as well as employee will be gaining more incentives. The
mangers of bank provides effective programs and strategies to employees which helps them to
perform better. Another role encompasses by leaders and managers at bank is recruitment of
qualified employees for the right place which will provide organization sustainability in terms of
profit and productivity.
Achieving goals with effective communication techniques:
Communication is of utmost important for success and continuous growth of an
organization. Effective communication help achieve goals in a better way. HR personnel works
on providing information to each and every employee and rechecks on effective flow of
information so as to enhance productivity. Communication gap may lead to poor management at
bank which will impact overall productivity. Thus HSBC, focuses on providing effective means
of communication to all employees which will enhance their productivity and as such the profit
margins.
Reward based performances:
Rewards are crucial for making productivity meets standards. The HR practices
7
incorporates various types of rewards and recognition programs which not only motivates
employees to improve their performance rather helps them to attain success for a longer period.
Rewards motivates employees to work better and recognition instils employees to enhance their
better work. When monetary rewards are tied directly to performance and with each particular
goals, employees reinforce them with the tasks more seriously.
Integration and collaboration:
Every work needs to be coordinated with others so as to achieve better results HRM
practices at HSBC focuses towards integration and collaboration of various activities which
helps enhance productivity and overall profit margins for the bank.
Rewards and Recognition to enhance performance of employees:
HSBC managers provides rewards and recognition to employees by various means and in
different forms so as to motivate them to increase their productive which will impact on
generation of profits for the banking corporation. The bank being a world local corporation
provides facilities to employees as well as to its customers be enhancing their experiences each
time.
Increase skills and knowledge base:
The today's competitive world requires qualified and skilled workforce which is updated
about newer reforms and technology. Thus manager should focus on training and development of
internal employees so as to increase their knowledge base. HSBC, HR practices incorporates
rendering such special assistance to employees which will impact productivity thereby satisfying
customers in a better way.
P5 Impact of employee relations at HSBC on HRM decision -making.
For effective working of banking corporation it is necessary to enhance employee
relations with each and every one present in the organization. It is important to integrate with
fellow colleagues and members inside banking environment. Discussion and talks helps resolve
many problems and conflicts and ease in decision making process. Thus HRM focuses on
encouraging employees relationship withing HSBC so as to enhance effective decision making
which will benefit banking corporation.
Sharing of work improves decision making:
8
employees to improve their performance rather helps them to attain success for a longer period.
Rewards motivates employees to work better and recognition instils employees to enhance their
better work. When monetary rewards are tied directly to performance and with each particular
goals, employees reinforce them with the tasks more seriously.
Integration and collaboration:
Every work needs to be coordinated with others so as to achieve better results HRM
practices at HSBC focuses towards integration and collaboration of various activities which
helps enhance productivity and overall profit margins for the bank.
Rewards and Recognition to enhance performance of employees:
HSBC managers provides rewards and recognition to employees by various means and in
different forms so as to motivate them to increase their productive which will impact on
generation of profits for the banking corporation. The bank being a world local corporation
provides facilities to employees as well as to its customers be enhancing their experiences each
time.
Increase skills and knowledge base:
The today's competitive world requires qualified and skilled workforce which is updated
about newer reforms and technology. Thus manager should focus on training and development of
internal employees so as to increase their knowledge base. HSBC, HR practices incorporates
rendering such special assistance to employees which will impact productivity thereby satisfying
customers in a better way.
P5 Impact of employee relations at HSBC on HRM decision -making.
For effective working of banking corporation it is necessary to enhance employee
relations with each and every one present in the organization. It is important to integrate with
fellow colleagues and members inside banking environment. Discussion and talks helps resolve
many problems and conflicts and ease in decision making process. Thus HRM focuses on
encouraging employees relationship withing HSBC so as to enhance effective decision making
which will benefit banking corporation.
Sharing of work improves decision making:
8
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When work is shared among workers is enhances better decision making by management
and builds relationship among employees thereby decreasing their work load and improving
quality of work. It is essential to share work among employees at same level which will easily
accomplish difficult tasks and improves decision making by management.
Reduces conflicts among workers:
Effective relations among employees decreases the chances of disputes and conflicts and
ensures effective working environment. HSBC hr practices incorporates decision making process
through various forms. They consider employees relation with each other and form decisions
which will benefit banking corporation thereby enhancing productivity of employees in
particular as well as profitability of bank overall.
Improve quality of work:
The employee relations among themselves as well as with superiors and subordinates at
HSBC improves quality of work done as every one performs towards one common goal. The
improvement in quality is also attain hen social needs of employees at bank are fulfil effectively.
Ensures equality by effective communication:
Employee relations encourages equal treatment by mangers thereby ensuring effective
communication which reaches all in a corrective manner. Equality brings in feeling of respect
among employees which encourages them to perform better thereby enhancing banking
productivity and overall profitability.
P6 Key elements of employment legislation and its impact on decision making of HSBC.
Employment legislation incorporates various safety and protection measures, labour
relationship with the manager etc. HSBC bank employs workers on higher wages. It plays a
major role in listening and taking care of its employees grievances. HR professionals are
responsible for changing the conditions for their employees and making the most of for the
workers. The key aspects are :
9
and builds relationship among employees thereby decreasing their work load and improving
quality of work. It is essential to share work among employees at same level which will easily
accomplish difficult tasks and improves decision making by management.
Reduces conflicts among workers:
Effective relations among employees decreases the chances of disputes and conflicts and
ensures effective working environment. HSBC hr practices incorporates decision making process
through various forms. They consider employees relation with each other and form decisions
which will benefit banking corporation thereby enhancing productivity of employees in
particular as well as profitability of bank overall.
Improve quality of work:
The employee relations among themselves as well as with superiors and subordinates at
HSBC improves quality of work done as every one performs towards one common goal. The
improvement in quality is also attain hen social needs of employees at bank are fulfil effectively.
Ensures equality by effective communication:
Employee relations encourages equal treatment by mangers thereby ensuring effective
communication which reaches all in a corrective manner. Equality brings in feeling of respect
among employees which encourages them to perform better thereby enhancing banking
productivity and overall profitability.
P6 Key elements of employment legislation and its impact on decision making of HSBC.
Employment legislation incorporates various safety and protection measures, labour
relationship with the manager etc. HSBC bank employs workers on higher wages. It plays a
major role in listening and taking care of its employees grievances. HR professionals are
responsible for changing the conditions for their employees and making the most of for the
workers. The key aspects are :
9
(Source: HSBC Holdings plc, 2017)
Health and Safety Policy:
Every person is expected to create a healthy and safe working environment for
themselves as well as for others and are authorized to report any concerns. The bank's chief
executive officer is entitled to check various health and safety policies which are being practised
and keeps an eye on flow of information and instruction to each and every worker. The HSBC
group provides a healthy environment which is safe and secure for customers, employees,
directors, contractors and people visiting bank premises. It focuses on ensuring healthy and safe
management practices and legal obligations to be implemented at all segments and levels of the
bank (HSBC Holdings plc, 2017). The HSBC group has devised various programs for the
workers and buildings in which they operate globally. The company has provisions for fire
extinguishers in approx 2000 campuses globally and has devised various programs to ensure
health and safety measures. At HSBC, management believes health and safety plays a vital role
in functioning of bank and thus appropriate resources and facilities are provided to ensure
employees security. Employees and workers have given full freedom to report any defects or
concerns faced by them to the line mangers or directly to the top management team. Every step is
being monitored and assessed by the top level managers so as to keep a close check on the
working of the organization.
Equality Policy:
The purpose behind HSBC bank's equality policy point towards employment of people
from diverse cultures which reflect various customers the company is engaged with. The
10
Illustration 2: Health and Safety
Health and Safety Policy:
Every person is expected to create a healthy and safe working environment for
themselves as well as for others and are authorized to report any concerns. The bank's chief
executive officer is entitled to check various health and safety policies which are being practised
and keeps an eye on flow of information and instruction to each and every worker. The HSBC
group provides a healthy environment which is safe and secure for customers, employees,
directors, contractors and people visiting bank premises. It focuses on ensuring healthy and safe
management practices and legal obligations to be implemented at all segments and levels of the
bank (HSBC Holdings plc, 2017). The HSBC group has devised various programs for the
workers and buildings in which they operate globally. The company has provisions for fire
extinguishers in approx 2000 campuses globally and has devised various programs to ensure
health and safety measures. At HSBC, management believes health and safety plays a vital role
in functioning of bank and thus appropriate resources and facilities are provided to ensure
employees security. Employees and workers have given full freedom to report any defects or
concerns faced by them to the line mangers or directly to the top management team. Every step is
being monitored and assessed by the top level managers so as to keep a close check on the
working of the organization.
Equality Policy:
The purpose behind HSBC bank's equality policy point towards employment of people
from diverse cultures which reflect various customers the company is engaged with. The
10
Illustration 2: Health and Safety
organization incorporates Equality Act 2010 which protects employees from any kind of
discrimination at workplace. Any sort of misbehave on basis of sex, race or disability by the
employer is punishable under law with fine and imprisonment. The bank focuses on diversity
inclusion by bringing various people and cultures together under one roof as they believe that
diversity brings in benefits for company. HSBC follows practices which include bringing in
various communities so as to meet the needs of customers in the best possible ways. The
organization focuses on different ideas and perspectives which help to innovate, manage risk and
grow business in a sustainable way. Company believes that a wide and diverse manpower is vital
for a successful enterprise. Secondly, company focuses on fostering a culture where employees
are respected and valued. The approach behind equality policy at HSBC is to diversify the
thought process to intensify people agility, innovation and risk management ability. The Bank
has strict rules and procedures regarding the breach of equality policy.
Anti-Discrimination Policy:
At HSBC employers are responsible for treating their subordinates equally with respect
and dignity. The Banking corporation complies with the federal, state, and local EEO laws and
strives to promote a positive workplace free from unlawful discrimination and harassment. It
creates an environment free from any discrimination or harassment based on disability, color,
race, age, gender, religion, pregnancy, sex, or identity etc. The bank mangers has mandatory
regulations and will not tolerate any discrimination according to the UK government law against
workers or customers. The bank practices equal employment opportunities (EEO) to each and
every person regarding promotions, rewards, training, supervision, information or instruction,
compensation , benefits and other aspects as well. People with disability are protected at HSBC
as their discrimination is prohibited and are given equal respect in each aspect as given to other
employees. Though the bank faced issues in its earlier days when the act was established. This
anti-discrimination policy of UK government has provided safety and security of employees
working in banks and thus ensures zero inequality on any basis by any one during working
hours.
P7 Application of HRM practices.
Job description of CRM of HSBC bank - Job description is a written document which includes
specific details about a particular job. Customer relationship manager is a person who knows and
values customer and his needs and desires (Shi and Pamer, 2011). It is manly refers to a list of
11
discrimination at workplace. Any sort of misbehave on basis of sex, race or disability by the
employer is punishable under law with fine and imprisonment. The bank focuses on diversity
inclusion by bringing various people and cultures together under one roof as they believe that
diversity brings in benefits for company. HSBC follows practices which include bringing in
various communities so as to meet the needs of customers in the best possible ways. The
organization focuses on different ideas and perspectives which help to innovate, manage risk and
grow business in a sustainable way. Company believes that a wide and diverse manpower is vital
for a successful enterprise. Secondly, company focuses on fostering a culture where employees
are respected and valued. The approach behind equality policy at HSBC is to diversify the
thought process to intensify people agility, innovation and risk management ability. The Bank
has strict rules and procedures regarding the breach of equality policy.
Anti-Discrimination Policy:
At HSBC employers are responsible for treating their subordinates equally with respect
and dignity. The Banking corporation complies with the federal, state, and local EEO laws and
strives to promote a positive workplace free from unlawful discrimination and harassment. It
creates an environment free from any discrimination or harassment based on disability, color,
race, age, gender, religion, pregnancy, sex, or identity etc. The bank mangers has mandatory
regulations and will not tolerate any discrimination according to the UK government law against
workers or customers. The bank practices equal employment opportunities (EEO) to each and
every person regarding promotions, rewards, training, supervision, information or instruction,
compensation , benefits and other aspects as well. People with disability are protected at HSBC
as their discrimination is prohibited and are given equal respect in each aspect as given to other
employees. Though the bank faced issues in its earlier days when the act was established. This
anti-discrimination policy of UK government has provided safety and security of employees
working in banks and thus ensures zero inequality on any basis by any one during working
hours.
P7 Application of HRM practices.
Job description of CRM of HSBC bank - Job description is a written document which includes
specific details about a particular job. Customer relationship manager is a person who knows and
values customer and his needs and desires (Shi and Pamer, 2011). It is manly refers to a list of
11
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activities which includes general task,
responsibilities and functions which needs to be conduct on regular basis. Describing job helps
company to determine the specification for
employees so that appropriate and skilled employees can be appointed. On the other hand person
specification is termed as a statement that includes description regarding minimum
qualification and skills that a candidate must possess while applying for the specific job. It is
required that the bank should develop proper job description and person specification
s so that they can recruit and select employees as per the requirements. The job description of
CRM includes:
Job Title: Customer relationship manager.
Job Purpose:- The CRM is responsible for
Maintain HSBC internal control standards
Listen and resolve various grievances of employees and employers and take corrective
action on any discrimination.
Determine level of compliance and regulations and checks working of employees with
customers
Review of various documentation for further perusal.
Duties:
Deliver quality and efficient service to customers which will enhance the bank image and
provides satisfaction to them.
Assist customers so as to ensure smooth functioning which is of key importance for
banking corporation like HSBC.
Preparation of monthly reports which will provide a status of working condition of bank
and helps in forming strategies for future.
Coordinate with internal departments: CRM primary responsibility is to coordinate with
every department so as to maintain coordination among each other. By integration of activities
helps resolve issues frequently and bridges any gap in performance as each employee posses a
12
responsibilities and functions which needs to be conduct on regular basis. Describing job helps
company to determine the specification for
employees so that appropriate and skilled employees can be appointed. On the other hand person
specification is termed as a statement that includes description regarding minimum
qualification and skills that a candidate must possess while applying for the specific job. It is
required that the bank should develop proper job description and person specification
s so that they can recruit and select employees as per the requirements. The job description of
CRM includes:
Job Title: Customer relationship manager.
Job Purpose:- The CRM is responsible for
Maintain HSBC internal control standards
Listen and resolve various grievances of employees and employers and take corrective
action on any discrimination.
Determine level of compliance and regulations and checks working of employees with
customers
Review of various documentation for further perusal.
Duties:
Deliver quality and efficient service to customers which will enhance the bank image and
provides satisfaction to them.
Assist customers so as to ensure smooth functioning which is of key importance for
banking corporation like HSBC.
Preparation of monthly reports which will provide a status of working condition of bank
and helps in forming strategies for future.
Coordinate with internal departments: CRM primary responsibility is to coordinate with
every department so as to maintain coordination among each other. By integration of activities
helps resolve issues frequently and bridges any gap in performance as each employee posses a
12
unique talent.
Qualifications and skills
Management of work and projects in a fastest way possible so as to achieve competitive
advantage being a CRM.
Exclusive Problem solving skills which will enhance his position,
Exceptional communication skills both written and verbal
Knowledge base:
Knowledge regarding CRM systems and its working,
Information regarding the storage, retention and extraction of Data
Educated and Experience to analyse subject matter into consideration (Bloom and
Reenen, 2011).
Experience
Great in managing CRM system specifically MS dynamics,
Critical analysis of business processes, systems and problems
Personal attributes:
Can communicate in different languages
Must work in pressure
Can develop sound working relationship
Adaptable
Self-motivated
13
Qualifications and skills
Management of work and projects in a fastest way possible so as to achieve competitive
advantage being a CRM.
Exclusive Problem solving skills which will enhance his position,
Exceptional communication skills both written and verbal
Knowledge base:
Knowledge regarding CRM systems and its working,
Information regarding the storage, retention and extraction of Data
Educated and Experience to analyse subject matter into consideration (Bloom and
Reenen, 2011).
Experience
Great in managing CRM system specifically MS dynamics,
Critical analysis of business processes, systems and problems
Personal attributes:
Can communicate in different languages
Must work in pressure
Can develop sound working relationship
Adaptable
Self-motivated
13
Can work in a team
CONCLUSION
The report incorporates the various aspects of human resource management of HSBC and
how resources affects critical decision making of bank. The human resource management is an
activity accompanied in all organizations and plays a crucial role in fulfilling employees needs
and desires as well as organizational goals and objectives. HRM practices are valuable to HSBC
and its customers so as to improve quality of work and provide extensive services to customers
which will enhance their experience with the bank. The report also focuses on various
legislations imposed by HSBC under UK regulations to the banking corporation for the safety
and security of employees. Each employee is treated equally irrespective of any discrimination n
basis of colour, race, sex or religion is done by his employer.
14
CONCLUSION
The report incorporates the various aspects of human resource management of HSBC and
how resources affects critical decision making of bank. The human resource management is an
activity accompanied in all organizations and plays a crucial role in fulfilling employees needs
and desires as well as organizational goals and objectives. HRM practices are valuable to HSBC
and its customers so as to improve quality of work and provide extensive services to customers
which will enhance their experience with the bank. The report also focuses on various
legislations imposed by HSBC under UK regulations to the banking corporation for the safety
and security of employees. Each employee is treated equally irrespective of any discrimination n
basis of colour, race, sex or religion is done by his employer.
14
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REFERENCES
Books and Journals
Bloom, N. and Reenen, V. J., 2011. Human resource management and productivity. Handbook of
labor economics. 4. pp.1697-1767.
Boxall, P. and Purcell, J., 2011. Strategy and human resource management. Palgrave Macmillan.
Bratton, J. and Gold, J., 2012. Human resource management: theory and practice. Palgrave
Macmillan.
Collings, D. G. and Mellahi, K., 2009. Strategic talent management: A review and research
agenda. Human resource management review. 19(4). pp.304-313.
human resource management and employee involvement. Human Resource Management.
47(3). pp.463-479.
McClean, E. and Collins, C. J., 2011. High‐commitment HR practices, employee effort, and firm
performance: Investigating the effects of HR practices across employee groups within
Ngo, H. Y., Lau, C. M. and Foley, S., 2008. Strategic human resource management, firm
performance, and employee relations climate in China. Human Resource Management.
47(1). pp.73-90.
Pichler, S., Simpson, P. A. and Stroh, L. K., 2008. The glass ceiling in human resources:
Exploring the link between women's representation in management and the practices of strategic
professional services firms. Human Resource Management. 50(3). pp.341-363.
Purce, J., 2014. The impact of corporate strategy on human resource management. New
Perspectives on Human Resource Management. Routledge Revivals.
Shi, C. and Pamer, E.G., 2011. Monocyte recruitment during infection and inflammation. Nature
Reviews Immunology. 11(11). p.762.
Online
HSBC Holdings plc. 2017. [Pdf]. Available through: <file:///home/user/Downloads/180220-
annual-report-and-accounts-2017.pdf>
15
Books and Journals
Bloom, N. and Reenen, V. J., 2011. Human resource management and productivity. Handbook of
labor economics. 4. pp.1697-1767.
Boxall, P. and Purcell, J., 2011. Strategy and human resource management. Palgrave Macmillan.
Bratton, J. and Gold, J., 2012. Human resource management: theory and practice. Palgrave
Macmillan.
Collings, D. G. and Mellahi, K., 2009. Strategic talent management: A review and research
agenda. Human resource management review. 19(4). pp.304-313.
human resource management and employee involvement. Human Resource Management.
47(3). pp.463-479.
McClean, E. and Collins, C. J., 2011. High‐commitment HR practices, employee effort, and firm
performance: Investigating the effects of HR practices across employee groups within
Ngo, H. Y., Lau, C. M. and Foley, S., 2008. Strategic human resource management, firm
performance, and employee relations climate in China. Human Resource Management.
47(1). pp.73-90.
Pichler, S., Simpson, P. A. and Stroh, L. K., 2008. The glass ceiling in human resources:
Exploring the link between women's representation in management and the practices of strategic
professional services firms. Human Resource Management. 50(3). pp.341-363.
Purce, J., 2014. The impact of corporate strategy on human resource management. New
Perspectives on Human Resource Management. Routledge Revivals.
Shi, C. and Pamer, E.G., 2011. Monocyte recruitment during infection and inflammation. Nature
Reviews Immunology. 11(11). p.762.
Online
HSBC Holdings plc. 2017. [Pdf]. Available through: <file:///home/user/Downloads/180220-
annual-report-and-accounts-2017.pdf>
15
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