International Human Resource Management

Running Head: INTERNATIONAL HUMAN RESOURCE MANAGEMENT
INTERNATIONAL HUMAN RESOURCE MANAGEMENT
Name of the Student:
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1INTERNATIONAL HUMAN RESOURCE MANAGEMENT
Executive summary
The Australian financial and banking industry is highly lucrative and generally monopolised by
four or five big banking companies such as CBA, ANZ and Westpac. All those organisations are
highly popular and enjoy a powerful position in the market. As a result of that potential threats of
misconducts is obvious in the Australian banking sector. In this context, this report tries to
illuminate with the existing business practice of the banking organisations and intends to
formulate a core concept of delivering HR related issues and practices that are considered to be
the most important features of the financial sector of Australia. Finally, a recommendation is also
made in order to create better performance of the Australian banking sector in domestic and
international sphere.

2INTERNATIONAL HUMAN RESOURCE MANAGEMENT
Table of Contents
1.0 Introduction................................................................................................................................4
1.1 Background sentence.................................................................................................................4
1.2 Scopes....................................................................................................................................4
1.3 Purpose..................................................................................................................................5
2.0 Body paragraphs........................................................................................................................5
2.1 History & Overview of banking system of Australia............................................................5
2.2 The features of banking in Australia.....................................................................................5
2.3 Current issues and challenges in banking sector in Australia....................................................6
2.4 HRM issues for banking sector..................................................................................................7
2.4.1 Organisational culture.........................................................................................................7
2.4.2 Lack of employee motivation.............................................................................................8
2.4. 3 Lack of leadership quality.................................................................................................8
2.5 HR Practices in Australian Banking system..............................................................................9
2.5.1 Recruitment process............................................................................................................9
2.5.2 Reward system..................................................................................................................10
3.0 Recommendations....................................................................................................................11
4.0 Conclusion...............................................................................................................................12
5.0 Reference.................................................................................................................................14

3INTERNATIONAL HUMAN RESOURCE MANAGEMENT
1.0 Introduction
1.1 Background sentence
The financial and banking sector of Australia is highly developed and flourished across
the country. As one of the most lucrative and profitable business sectors in Australia, it becomes
obvious to see huge competitiveness in the financial and banking sector. There are four leading
banks in the Australian market that comprises more than 70% of the banking sector (Seltzer
2017). The leading banks are Commonwealth Bank of Australia, Westpac, ANZ Bank and
National Australia Bank. Besides this there are also the mutual banking institutions in Australia
with other retail and foreign banks.
1.2 Scopes
The future of the Australian banking sector is highly promising with lots of opportunities
for the banking organisations to deal with the changing nature of the banking sector. From the
research of Salim, Arjomandi and Seufert (2016) it can be argued that high utilisation of
technology has transcended the banking activities effectively with a prospect for the banking
organisation to earn more profit by expand the market domestically and in international level.
The technological implementation further leaves an impact on the consumer behaviour. The
present consumers of Australian banks are highly educated and well aware of the existing
banking system in Australia and highly concern about their self-interests. As a result of that it
becomes a challenge for the banking organisations in Australia to put great deal of emphasis on
the transforming nature of the customers.