Importance of the Human Resource Management

Running Head: IMPROTANCE OF HUMAN RESOURCE MANGEMENT TO BUSINESS SUCCESS
Importance of human resource management to business success
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IMPORTANCE OF HUMAN RESOURCE MANAGEMENT TO BUSINESS SUCCESS1
Human resource management is the process of achieving supreme workforce growth, productive
working environment and improved connection between the company and the personnel. Achievement of
an organization is influenced by the appropriateness and the capability of the employees. Therefore,
human resource management functions on the norm that labour management relation cannot function
alone in achieving the target. This focuses on many changes like quality control, customer relation, profit,
productivity and more (Armstrong & Taylor, 2020). HRM helps in institutionalizing the change and
enhancing group performance and more. The human resource has radically progressed from the out-dated
process of employing and firing and emphasis more on worker commitment (Tabatabaei et al., 2017).
Human resource motivates and encourages employees and assist them in achieving short as well as long
term goals of the organization (Bartram, Cavanagh & Hoye, 2017).
The policy of ABC bank is to deliver amazing facility to the clients and to guarantee that each
and every division has individuals with proficiency and ability so that it can be a leader in the banking
business. ABC gives service to around 2700 people from Asia Pacific region and also involved in
assisting about 4.75 million customers. Therefore, for handling so huge varied workforce, the bank must
rely on the human resource practices for cultivating healthy operative relations and performance
(Madanat & Khasawneh, 2017). The financial transactions industry is entirely serviced constructed, so the
bank for commercialising with its customers’ require a management for handling personnel in the
business. HRM will enhance the performance of the bank by providing all the obligatory teaching that
will assist in governing the commercial communications and even financial risks faced by the bank.
Therefore, talented and operational personnel management system in the bank will be able in handling
economic challenges of the bank regularly (Hauff, Alewell & Hansen, 2017).
As the ABC bank is a sector that provides services, the bank has to handle monetary risks on
daily basis so to run these operations smoothly, the personnel who deals with the day-to-day activities
must possess the skills of persuading the customer as well as look after the requirements of client
contentment. The staffs who work at the anterior of the bank reflects the image of the organization, thus,
the bank would be assured that the appointed personnel receives appropriate training so that he/she
become expert in the fundamental banking skills and consumer association management (Figueiredo et
al., 2016).
The ABC bank requires skilled human resource management in the premises so that the human
resource can deal with the requirements of the banking sector and also handles the scarcity of manpower
source in the organization professionally. There are numerous trials confronted by the bank such as
fluctuating employee’s demographic, strong rivalry in the international economy, talent difference and