logo

Human Resource Management in Natwest bank

   

Added on  2021-02-21

16 Pages4863 Words96 Views
Business DevelopmentLeadership ManagementProfessional Development
 | 
 | 
 | 
Human ResourceManagement
Human Resource Management in Natwest bank_1

Table of ContentsINTRODUCTION...........................................................................................................................1ACTIVITY 1....................................................................................................................................1Define the purpose and functions of Human resource management......................................1Explain the strength and weaknesses of HRM approaches to its functions...........................4ACTIVITY 2....................................................................................................................................7Covered in Booklet.................................................................................................................7ACTIVITY 3....................................................................................................................................7Identifying the importance of employee relations..................................................................7Identify the key elements of employee legislation.................................................................8Application of HRM practices in organizational context.....................................................10CONCLUSION ............................................................................................................................12REFERENCES..............................................................................................................................13
Human Resource Management in Natwest bank_2

INTRODUCTIONHuman resource management is a process of planning, organising, controlling anddirecting of the procurement, development, compensation, maintenance and separation of humanresources to achieve the objectives of individual, social as well as organization. It is classifiedinto mainly three terms like human, resource and management which means as follows: Humanmeans the skilled and knowledgeable workforce. Resource means the limited availability ofthings, and management means fully utilization of limited resources and humans to meet theobjectives of an organization. In this report, National Westminster Bank commonly known asNatwest bank is chosen for examining the HR practices. It is a major retail and commercial bankin the United Kingdom and it was founded in 1968 by the merger of National Provincial andWestminster bank. This deals in the financial services industry and it's headquarter is located in250 Bishopsgate, London. The company deals in the banking and insurance products and it isconsidered as one of the big four clearing banks in the United Kingdom. Under this reportdiscussed about the purpose and functions of HRM along with the human resource practices.Also, the report analyse the strength and weaknesses of HRM approaches, its functions as well asbenefits and its effectiveness with the context of company and employees. In addition, it examinethe importance of employee relations and elements of employee legislations as well asapplication of HR practices with the context of an organization. ACTIVITY 1Define the purpose and functions of Human resource managementHRM is a strategic tool that are used for the management of people within a company aswell as maintaining the employee-employer relationship. It involves the acquiring and managingplans that are used to ascertain the employees, businesses and management effectiveness. HRMtotally consists of human resources which defines as skills, knowledge, talent, abilities of anorganization workforce as well as approaches, values, beliefs and attitudes of an individualsinvolved in the organization's affairs (Human Resource Management – Nature, Scope,Objectives and Function, 2019). According to the Mathis and Jackson, “HRM is related to the effective utilization ofpeople and organization through managing the activities related to the human resource.”Characteristics of HRM:1
Human Resource Management in Natwest bank_3

Art & science: Human resource management is a combination of both art and science.Managing the people by using creative approaches is an art, whereas applying the theories andmethods is related to the science. Continuous process: HRM is never ending in nature, it is beginning with the planningand continue till the performance appraisals and employees maintenance as well as separation. Persuasive: This kind of activities are presented at every stage, levels and departments ofan organization so, it is persuasive in nature. Although, all types of firms have to follow HRM. People oriented: This is concerned with employees either individual's or in groups in thebetter attainment of goals and objectives. It involves personnel behaviour, emotions which helpsin accomplishing individual and organizational goals together. Staff function: HRM is responsible for all line managers and staff manager functions inan organization because they contribute towards the growth and success of business (Berman andet. al. 2019). Scope of HRM: Human resource management have a wide scope in fulfilling the several aspectssuch as personal, industrial relations as well as social welfare views. Personal aspects: This refers to the manpower planning, recruitment, selection, transfer,training and development, promotion, remuneration as well as incentives. Welfare aspects: It is concerned with the Working conditions, facilities and amenitieslike canteens, rest room, transportation, medical, lunch room, education, health and safetyas well as sports and housing facilities to their employees. Industrial relations aspects: It includes the collective bargaining, disputes settlement,grievance and disciplinary procedures and union relations etc. Purpose of HRM: The main purpose of human resource management is to hire and select theappropriate candidates on a right job at a right time. In the context of National Westminster Bankis to optimizing the effectiveness of its employees for increasing the organization's productivityand profitability. Its purpose is to estimate manpower gaps and fill it by hiring right number ofcandidates who are skilled enough to attain objectives of organisation.Functions of HRM: A Natwest bank can use the several functions for effective management ofhuman resource and effective workforce planning that are as follows: Recruitment and selection: It is a process of hiring and choosing the qualified as well aspotential candidates from the given pool for a specified job openings.In the context of National2
Human Resource Management in Natwest bank_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
HRM Practices: Workforce Planning, Recruitment and Selection, Training and Development
|18
|5121
|51

(Doc) Human Resource Management Assignment Solved
|14
|4395
|276

Importance of Employee Relations in HRM Decision-Making
|14
|3639
|31

(Solution) Human Resource Management Approaches Doc
|16
|5116
|406

Assignment on Human Resource Management - HSBC Bank
|19
|5583
|77

Human Resource Management - NatWest Bank Assignment
|12
|3648
|24