Human Resources Management - HSBC bank

Human Resources
Management

Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
P1. Purpose and functions of HRM applicable to workforce planning and resource.................1
P2. Strengths and weakness of different approaches to recruitment and selection.....................2
LO 2.................................................................................................................................................4
P3. Benefits and different HRM practices within organisation for both employer and
employee.....................................................................................................................................4
P4. Effectiveness of different HRM practices in terms of raising organisational profit and
productivity.................................................................................................................................5
LO 3.................................................................................................................................................6
P5. Analysing importance of employee relations in respect to influence HRM decision
making.........................................................................................................................................6
P6. Identifying key elements of employment legislation and impact it has upon HRM decision
making.........................................................................................................................................8
LO 4.................................................................................................................................................9
P7. Application of HRM practices..............................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................10

INTRODUCTION
Human resources are termed as the most valuable and also the unique assets that are
available in organisation (Roshni Das and Amitabh Deo Kodwani, 2018). It is also defined as
process in order to manage employees that are available in a company. It also include
involvement of hiring, training and motivating employees. In the following report, HSBC bank
has been taken into consideration. It is a British multinational banking and financial services and
the 7th largest bank in whole world. It has been headquartered in London, United Kingdom.
In the following report, functions and purposes of human resource management has been
discussed along with strengths and weakness of different approaches related to recruitment and
selection. Further, benefits of different HRM practices and its effectiveness in raising the profit
of HSBC bank has also been analysed. In addition to this, this report also highlights on key
elements of employment legislation and its impact on HRM decision making has been discussed.
LO 1
P1. Purpose and functions of HRM applicable to workforce planning and resource.
Human Resource Management is a term that is referred to as the strategic approach to the
management in effective way so that they can help the business in order to earn competitive
advantage (Halil Zaim, Yavuz Keceli, Ashraf Jaradat and Selma Kastrati, 2018). It is also known
as HR department and is designed in order to maximise the performance of employees in the
services related to the strategic objectives of employees. Thus, the purpose and function of
Human resource management in HSBC bank has been discussed as per below context-
Purpose
 Internal customer management- This is the key purpose of human resource management
of HSBC bank. The productivity depends mainly on employees that are involved in a
particular organisation. They further leads in defining and implementing objectives that is
required in order to attract, recruit and retain the high quality of workforce. It also plays
important role in financial performance of the cited company like compensation related to
employees, benefits, team structure etc. They also leads in serving internal customers and
helps in creating the external relationships successfully.
 Cultural sensitivity- The human resource management of HSBC bank maintains cultural
awareness. They are routinely called up in order to manage differences that are related to
1