Fundamentals of human resource management | Report

HUMAN RESOURCE
MANAGEMENT

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
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