HRM in terms of workforce planning and resourcing within BARCLAYS Bank

   

Added on  2020-12-29

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Human ResourceManagementTable of Contents
HRM in terms of workforce planning and resourcing within BARCLAYS Bank_1
INTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Purpose and function of HRM in terms of workforce planning and resourcing withinBARCLAYS Bank......................................................................................................................1P2 Strengths and weaknesses of different approaches of recruitment, selection and alsobenefits and drawbacks of methods which are used by BARCLAYS Bank...............................3Task 2...............................................................................................................................................7P3 Benefits of HRM practices to employee and employer within BARCLAYS Bank..............7P4 Importance of effectiveness of different HRM practices.......................................................8TASK 3............................................................................................................................................9P5 Importance of employee relations to influence HRM decision-making in BARCLAYSBank............................................................................................................................................9P6 Key element of employee's legislation and their impact on decision making process ofHRM of BARCLAYS Bank......................................................................................................10TASK 4..........................................................................................................................................12P7 Applications of HRM activities...........................................................................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
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INTRODUCTIONHuman resource management is defined as a formal system which is devised to provideindividuals with recruitment, selection, their induction, orientation, provide them with trainingand development, appraise performance of employees, decide compensation, provide benefits,motivate them, build healthy relationship with them by following different labour laws (Humanresource management, 2016). Elementary objective of HRM is to place appropriate candidate atspecific place. In this report, BARCLAYS Bank in Central London is taken into consideration. Itis a public limited company which deals with banking and financial services. It was founded onNovember 17, 1690 in City of London, Kingdom of England. It is headquartered in London, UK.They provide their customers with wealth management, investment, commercial and retailbanking. This report deals with purpose and functions of HRM which are applicable toworkforce planning. Moreover, advantages and disadvantages of contrasting approaches ofrecruitment and selection are provided. Furthermore, benefits of HRM practices and theireffectiveness in terms of organisational productivity and profitability is evaluated. Importance ofemployee relations with respect to decision-making are analysed and key elements ofemployment legislation with their impact has been identified. At last, applications of HRMpractices using peculiar examples have been illustrated. TASK 1P1 Purpose and function of HRM in terms of workforce planning and resourcing withinBARCLAYS Bank.Human resource management refers to set of functions, programs and activities which areplanned and carried out so that effectiveness of both organisation and employees can bemaximised. As per Flippo, Human resource management refers to making plans, theirorganisation, direction and control of acquisition, improvement, recompense, segregation,maintenance and detachment of human resources to the end by which social, organisational andindividual objectives are fulfilled (Bondarouk and Ruël, 2013). Workforce planning is defined asa process to ensure that current and future needs of organisation related with human capital toaccomplish different activities are met. Managers of BARCLAYS bank carry out workforceplanning in effectual way. They use formative process by which they are able to identifyrequirements related with human capital, gap in present and future workforce and determination
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of internal and external drivers associated with engagement of workforce. By this, they will beable maintain around 80,000 employees who are working with them. Purpose of Human Resource ManagementHRM refers to function within organisation which emphasise on recruitment,management and giving directions to employees who are working within organisation. Thisfunction can be also carried out by line managers (Chang, Chiang and Han, 2012). By thisprofitability of organisation can be enhanced and their internal workforce can also bestrengthened. Primary purpose of HRM is to establish bridge between employees andmanagement by which organisational objectives can be fulfilled. HR manager of BARCLAYSbank carry out their functionalities and operations in shaping way. Purpose of HRM is mentionedbelow:Make better organisational culture: This factor is essential which must be taken intoconsideration in efficacious manner. HR manager needs to make use of specified techniques andtools by which they will be able to provide is provide enhanced organisational culture.BARCLAYS HR manager must provide their employees with healthy and optimistic workingenvironment. Apart from this, they also ensure that work is allotted to candidates on the basis oftheir capabilities and skills. This will assist HR manager to eliminate any kind of stress withinworking environment. By this, they will be able to complete their tasks in stipulated timeduration with higher efficiency.Law: Different countries have their own set of regulations and laws which are build bytheir own government. HR manager of BARCLAYS bank ensure that they bide all legal policieslike union and negotiation act, health and safety act, data protection act and other acts by whichthey can safeguard rights of their employees (Chelladurai and Kerwin, 2017). It enables HRmanager to furnish stable and secure working structure to all employees which will lead to havesignificant impact on profitability of organisation. Thereby, it assist HR manager ofBARCLAYS bank to make their decisions on the basis of laws which are formulated bygovernment. This will automatically benefit organisation to carry out their operations withinfalling into any kind of legal hindrances.Functions of Human Resource ManagementHR manager of BARCLAYS bank carry out different functions which are mentionedbelow:
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