Importance of Human Resource Assignment

Running Head: IMPORTANCE OF HUMAN RESOURCE MANAGEMENT TO BUSINESS SUCCESS
Importance of Human Resource Management to Business Success
Name of the student
Name of the University
Author’s note

IMPORTANCE OF HUMAN RESOURCE MANAGEMENT TO BUSINESS SUCCESS1
Human resource management is the planned approach for the effective management of personnel
in an organization so that the employees give their best to the business to gain competitive advantage
(Armstrong & Taylor, 2020). The human resource management aims at fulfilling objectives like
maximum individual development, effective utilization of human resources, maintaining effective
relationship between the employer and the employee and establishing group dynamics. The human
resource has drastically evolved from the traditional method of hiring and firing and focuses more on
employee engagement (Masum, Azad & Beh, 2016).
ABC’s Strategy
The strategy of ABC bank is to provide extraordinary service to the customers and to ensure that
every branch has a people with expertise and talent to be leader in the banking industry. Since, ABC
employs more than 2700 employees from Asia Pacific region and are involved in assisting around 4.75
million customers. Therefore, to manage such a huge diverse workforce, the bank should rely on the
human resource management to improve their employee relations and performance (Madanat &
Khasawneh, 2017). The nature of the banking industry is totally serviced based, so the organization to
deal with people needs a management to deal with people in the organization and to make them equipped
with the necessary training in handling with the financial transactions and the economic risks. Because
skilled and effective talent management in the organization can only handle the financial risks that a bank
has to face regularly.
My role
Since, ABC bank is service sector, apart from the risk that it faces every day, employees handling
the daily affairs should know the need of customer satisfaction as well . Therefore, as a member of HR
team, I will make sure that the workforce at the bank should be provided with proper administrative
programs so that they can gain proper skills and efficiency to perform and meet the expectations and
goals of the organization. The employees working at the front office are the faces of the bank, therefore,
the bank should make sure that the hired employees go through the proper training to make them aware of
the core banking and customer relationship management (Figueiredo et al., 2016).
Key themes for the ABC bank
 A well-planned human resource strategy.
 Learning and development