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Human Resource Management on HSBC Bank

Added on - 08 Dec 2020

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Human ResourceManagement
Table of ContentsINTRODUCTION...........................................................................................................................3TASK1.............................................................................................................................................4P1Purpose and Functions of HRM, applicable to work force planning and resourcing anorganisation.................................................................................................................................4P2 Strength and weaknesses of different approaches to recruitment and selection process.......6TASK 2............................................................................................................................................8P3 Benefits of human resource management for both employer and employees.......................8P4 Effectiveness of different human resource practices in terms of raising organisation profitand productivity........................................................................................................................10TASK 3..........................................................................................................................................11P5 Analyse importance of employee relations to influence HRM decision making................11P6 Identification of key elements of employment legislation and its impact upon HRMdecision making........................................................................................................................12TASK 4..........................................................................................................................................14P7 Applications of HRM practices in work related context , using specific examples............14CONCLUSION..............................................................................................................................17REFERENCES..............................................................................................................................19
INTRODUCTIONHuman Resource Management is primarily concerned with management of people withinorganisation. It is defined as the process of managing, hiring, training, developing andmotivating employees within organisation (Armstrong and Taylor, 2014). Essentially the purposeof HRM is to maximise productivity of an organisation by optimising effectiveness of itsemployees. In this report, chosen organisation is HSBC bank. It is a British multinationalbanking and financial services holding as well as 7thlargest bank in world. This report analysesthe importance of human resource management in work force planning and resourcing in HSBCbank. It also determines the strengths and weakness of recruitment process and analysedimportance of employee relations influencing HRM decisions. In addition to this application ofHuman resource practices in context to work related are discussed in this report.TASK 1P1Purpose and Functions of HRM, applicable to work force planning and resourcing anorganisation.Human resource management is an strategic approach concerned with management ofpeople within organisations by focusing on policies and systems (Bailey and et.al., 2018). It isdesigned to maximise employees performance that helps business to gain competitive advantage.It is concerned with hiring, motivating and maintaining of workforce within business. In generalHRM is used to describe both the individuals who work for the company and the departmentswho are responsible for managing resources for effective growth of organisation.Purpose of HRMHRM is the coordination of an organisations individual to achieve specific businessobjectives by providing them adequate training, fair compensation which maintains employeesatisfaction. HSBC bank analysed the need and purpose of HRM to coordinate its activities andachieve goals.Employee's commitment toward work- Productivity of the organisation is directlyrelated to quality and commitment of employees towards their work. HR management atHSBC bank adopts policies and strategies to attract and retain workforce in theirrespective banks. Employees are provided compensation and other benefits according to
their task for effective working . This increases their commitment towards their work andincrease profits of organisation.Promotes company culture-Employees comes from varied backgrounds that have greatinfluence on their job. HRM focuses on employees are happy in the organisation to stayand work, keeping a low turnover . HSBC bank should conduct specific activities andsessions to make the employees work with employees of varied cultures.Meeting with changing environmental needs-Business environment is changingrapidly due to change in technological and political advancements (Brewster andHegewisch, 2017).HRM provides employees with appropriate training to cope up andmeet with the changes. This provides an opportunity for individuals at HSBC bank toexecute task in different software, learn new ways of performing job. This maintainsquality of workforce in respective company.Functions Of HRMRecruitment and selection- HRM identifies the need for employees with specific skillsand abilities to fulfil their task role. This helps organisation to recruit skilled candidatesand maintain quality of workforce in organisation(Brewster,Chung and Sparrow 2016).HSBC bank identifies the need of workforce for carrying specific task and selects the bestcandidate which meets its specification. This is beneficial for both organisation andindividual.Training and development- Training and development are the important functionscarried out by HRM. It improves the current and future performance of individuals byproviding them adequate training and increasing individuals skills in performing specifictask. HSBC bank should provide training facilities to its members to improve their skillsof performing jobs and creates a motivating environment at work place.Managing Employee relations- Employee relations is the broad concept of the functionsof HRM. Management should organise activities to know employee at their personallevel and also helps in resolving conflicts which will promote healthy and balancerelation in organisation (Briscoe, Tarique and Schuler, 2012). HSBC bank shouldmaintain proper relation between superiors ans subordinates to avoid conflicts andmaintaining workforce which increases organisation effectiveness.
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