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Human Resource Management in HSBC Bank

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Added on  2020-10-05

Human Resource Management in HSBC Bank

   Added on 2020-10-05

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Human Resource Management
Human Resource Management in HSBC Bank_1
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1Purpose and function of HRM, applicable in workforce planning and resourcing anorganisation............................................................................................................................3P2 Strength and weaknesses of different approaches to recruitment and selection process. .5TASK 2............................................................................................................................................6P3 Benefits of HRM practices for both employer and employees.........................................6P4 Effectiveness of different HRM practices in terms of raising organisational profit andproductivity.............................................................................................................................8TASK 3..........................................................................................................................................10P5Analyse the importance of employee relations in respect to influencing HRM decisionmaking..................................................................................................................................10P6 Identify the key elements of employment legislation and the impact it has upon HRMdecision-making...................................................................................................................11TASK 4..........................................................................................................................................12P7 Illustrate the application of HRM practices in a work related context, using specificexamples...............................................................................................................................12CONCLUSION..............................................................................................................................16REFRENCES.................................................................................................................................17
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INTRODUCTIONHuman Resource Management is practice of recruiting, hiring, developing and managingan organisation's employees. It is basically defined as process of managing, hiring, training anddevelopment and motivating employees in an organisation (Foster, 2014). Moreover, it is a wayin which a firm hires new employees so as to ensure effective utilization and maximumdevelopment of human resource, satisfy both individual and organisation. In this report, chosenorganisation is HSBC Bank. It is a British multinational banking and financial services holdingcompany as well as 7th largest bank in world. HSBC is organised within four business groups thatis commercial banking, global banking and marketers, retail banking and health management andglobal private banking. This report is going to analysis purpose and function of human resourcemanagement, strength and weakness of different approaches in selection and recruitmentprocess. Moreover, importance of employees relations influencing HRM decision making andimpact of employees legislation is defined. Further, application of human resource practices in awork related context is discussed in this project.TASK 1P1Purpose and function of HRM, applicable in workforce planning and resourcing anorganisation.Human resource management is an strategic approach to effective management of anorganisation that help both employees and firm to gain competitive advantage.(Pattanayak,2018). The human resource management function is concerned with hiring, motivating people inan working environment of an organisation. In organisation context of HSBC, employees areconsider as life bone for an organisation. There are some purpose and function of humanresource management are as follows:Purpose: It is management process effective in development of employee's work related skills,knowledge and experience. Moreover, to work together in order to improve performance andmeet organisational goals and objectives.Internal employee engagement: Human resource management has various keypurposes as productivity of an organisation directly result with quality of employees.
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HSBC human resource management implements purposes and policies that are necessaryto attract its employees and retain a quality workforce. Staffing:The main purpose of staffing is employee's recruitment, screening and selectionperformed within an organisation or business in fulling job openings. This process helpmangers of HSBC, to select the right candidate for right job. Further, it is beneficial forboth individual as well as organisation to meet its goals and objectives respectively.Cultural sensitivity: Human resource management maintains cultural awareness amongemployees as responds to needs of an individual and multiple division (Armstrong andTaylor, 2014). The employee's of HSBC are form different regions, state and city. Theyare conducting effective session and activeness that employee's feel comfortable inworking environment without any difficulties.Functions:Human resource management function are applied for acquiring, developing,maintaining and providing remuneration to its employees. It function are designed to carried outorder to maximise both employees as well as organisation.Recruitment and selection: Recruitment and selection process is very important functionof every organisation. It is process of captivating, screening and selecting potential andqualified candidates. HSBC implement this process very effectively for selecting rightcandidate for right job for fulling goals and objectives of an organisation. Orientation: Orientation is the fundamental function of an organisation as it helps newemployees to feel comfortable in working culture. HSBC, provides this program thatincludes goals and objectives of organisation to employees in order to achieve long termand short term goals of respective firm. Further, it helps an individual to know is rightsand duties of their job position.Maintaining good working condition:It is basic and important responsibility of humanresource management to provide good working condition to its employee. HSBC,provides good safe and comfortable working environment to their employees to carry outtheir work effectively (Bratton and Gold, 2017). Moreover, they motivate theiremployees to tackle new challenges and opportunities and contribute their best to achieveorganisation goals.
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