Human Resource Management- HSBC Company
Added on 2020-10-23
22 Pages5299 Words261 Views
HUMAN RESOURCEMANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11. PURPOSE OF THE HR FUNCTIONS OF HSBC CO.....................................................12. AN ASSESSMENT OF WORKFORCE PLANNING APPROACHES -.........................43. THE DIFFERENT METHODS USED IN HR PRACTICES -.........................................54. EMPLOYEE RELATIONS APPROACH USED BY HSBC CO. -..................................85. Key aspects of employment legislation within which HSBC must work..........................86. Employee relations and employment legislation helps in inform decision making andachieve business objectives...................................................................................................9TASK 2..........................................................................................................................................107. Application of HR Practices in work related context using job specification and offer letter...............................................................................................................................................10Job related interview questions:...........................................................................................138. Use of technology, digital platforms and social networking on improvising the recruitmentand selection process of HSBC company.............................................................................14CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................16
INTRODUCTIONHuman resource management is essential part of business unit that focuses on planning,analysing, selection, hiring, training and development, performance appraisal, rewarding andprovide a healthy working environment through effective recruitment. HSBC is a British bankingand financial services company founded by Sir Thomas Sutherland. It is one of the 7th largestbank in the world which has network worldwide and covers 66 countries and territories. HSBCcompany provide services like wealth management, corporate banking, private banking,mortgage loans, retail banking, credit cards, finance, investment banking and insurance. Thisreport highlights key roles and responsibilities of HR, its role is to retain productive employeesin the organization and make strategic plans for improved decision making which enhancesproductivity of the organization. In this assignment, it will include the role of assistant of HRmanagement in HSBC. This report also focuses on significance and purpose of HR and further italso includes approach and method used in HR practices. This report covers key legislationswhich should be implemented at workplace and how it helps in decision making. This report alsohighlights how technology, digital platforms and social media platforms helps improverecruitment and selection process.TASK 11
1. Purpose and responsibility of the hr functions of HSBC coThe main purpose behind the functions of HR department of HSBC Co. is to collect peoplefor the achievement of objectives of HSBC Co. Purpose behind HR functions of HSBC Co. arementioned below -RECRUITMENT and SELECTION – Purpose for recruitment is to find out the bestcandidates for the job who has the skills to accomplish task effectively with increasedproductivity in HSBC Co. HR aims to attract pool of candidates from across the globe who canapply for the job. Role of HR manager of HSBC Co. in recruitment is to implement those planfor attracting the pool of candidates for HSBC Co (Recruitment and selection, 2015). Purpose behind selection of HSBC Co. is to select the best candidates out of pools ofcandidates who best fit the job and have desired skills to perform task effectively and efficiently.Selection is a process of screening and short listing right candidates for the job which increasesproductivity of the organization. Role of HR manager in selection process is to select thecandidates on the basis of HSBC's requirement, not on the basis of gender or relationships orother characteristics. TRAINING AND DEVELOPMENT – Purpose behind giving training and focusing ondevelopment of Employees of HSBC Co. is to give them career growth opportunities, providethem knowledge and skill for the selected job. Training and development helps employee to2Illustration 1: HR functionsSource: (Human resourcefunctions, 2016)
enhance their skill and knowledge for increased productivity and performance. Role of HRmanager in the training and development is to give equal opportunities to all the employees ofHSBC Co. and not discriminate between the employees.3
COMPENSATION MANAGEMENT – Purpose behind compensation managementdone by HSBC Co. is to motivate employees, retain them in HSBC Co. and create friendlyrelationship between employees and employers of HSBC Co. Role of HR manager in thecompensation management is to make fair compensation policy and give them salaries timelyand fairly according to their performance and also give same compensation to the employees ofHSBC Co. who work on the same position without any discrimination.EMPLOYEE RELATIONS – Purpose behind employee relations of HSBC Co. is tostrengthen the relationship between employees and employers, understand the problems ofemployees and keep employees happy and motivate in the environment of HSBC Co. It helps inemployees’ retention and benefit organization in accomplishing goals and objectives. Role of HRmanager of HSBC Co. in Employee relations is to provide the employees friendly environmentand make them feel that they are an important part of the HSBC Co. PERFORMANCE APPRAISAL – Purpose behind performance appraisal of employeesof HSBC Co. is to evaluate the performance of the employees and accordingly decide thepromotion and demotion decision of employees. Role of HSBC Co.'s HR manager inperformance appraisal is to appraise over all working of employees and promote themaccordingly. It is on the basis of appraisal, not on the basis of affection or relationship they shareor any other characteristics (Voegtlin and Greenwood, 2016). THE SIGNIFICANCE OF HR PLAYS IN BUSINESS OBJECTIVES - HR plays a crucial role in the retaliation of employees in the HSBC Co. andstrengthen the relationship between employees and employee and employer too.An effective HR of HSBC also teach an individual employee that how to committowards work and company which lead to commitment and effective employees andthat is reason for the success of HSBC Co. (Dessler, 2016).ROLES AND RESPONSIBILITIES OF HR IN HSBC COMPANYThe key role of HR is to make strategic planning and take decisions which is beneficial forthe organization in achieving its desired goal and objective. The main roles of HR arerecruitment, selection, performance appraisal, training and development, handling grievances.The major responsibility of HR is to create a healthy and positive workforce environment byresolving problems and implementing change effectively in the organization. 4
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