Strategic Human Resource Management for HSBC Group

This report discusses the importance of strategic human resource management for HSBC Group and reviews its functional aspects. It also covers policies related to SHRM that can be adopted by the company to fit in various situations such as declining markets, innovatory organisation and context of international. The report concludes with the need for a proactive management of workers to attain the potential values.

Strategic Human
Resource
Management

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Critically review the functional aspects of strategic human resource management...................3
The policies related with SHRM that can be adopted by the HSBC Group to fit in various
situations such as declining markets, innovatory organisation and context of international......5
TASK...............................................................................................................................................7
CONCLUSION ...............................................................................................................................7
REFERENCES:...............................................................................................................................8
Books and Journals:....................................................................................................................8

INTRODUCTION
The Human resources department of the company is being considered as one of the most
important part of the company. The Human resource management of organisation is responsible
for managing and motivating the employees within the company(Alomari, 2020) . Strategic
human resource management is very important for the company and along with this, this is a
connection between the human resource and strategies, goals and objectives of the company.
Strategic HRM not only help in developing different opportunities for the HR experts but also
helps the in dealing with the different problems and challenges in a very effective manner. This
following report is based on HSBC with is a public listed company. The company was founded
in 1959 as a holding company and the headquarters of the company is located in London,
England, UK. HSBC is a British bank which deals in different banking and financial services.
The company provide their services through four multinational organisation which comprises
retail banking and wealth management, commercial banking, global private banking and global
banking market. In Japan, the HSCB was the first bank where they offer different types of
products and financial services like asset management, trade services, project export finance,
cash management treasury, capital market and many more. The following report is going to
review the functional aspects of the strategic HRM that should be used by HSBC group in order
to avid the situation in Japan. Along with this, this report also cover the strategic HRM policies
that company should adopt.
MAIN BODY
Critically review the functional aspects of strategic human resource management.
Strategic human resource management is responsible for hiring, recruiting, training and
retaining the workforce of the company. The human resource department of the company always
interact with the different department of the company in order to make their policies and
programme that aligns with gaols of the business as well the employees. The strategic HRM
develops or generate different opportunities within the human resource department which not
only enhance the productivity of the other functional areas of the business but also improves the
stability of the company in the competitive market.

When an organisation thinks to develop and implement their plan and policies at the
international level the strategic human resource management is act as a strategic partner for the
human resource department of the company(Ayedee, Kumar and Shaikh, 2021). The experts of
the strategic HR shown their expertise through different activities like recruiting, compensating
and training and developing. The strategic HR of the company constantly focus on the different
methods which helps the human resources department of the organisation in order to effect the
growth and development of the company in a very effective and positive manner. In relation to
the HSBC group, it is very important for the Human Resource department of the to take positive
and strategic approach. These approaches not only help in improving the retention rate of the
employees with in the company but also help in fulfilling the long term plan of the company in a
very effective manner. Different types of challenges and complexities has been faced by the
respective company when they operate their functions in Japan like hiring and language barrier,
slow and improper decision making, technical incompatibility etc.
Hiring and Recruitment of the employee is being considered as one of the major
functions of the Human Resource management of the company. The main motive of this
department is to hire the excellent skills and talent according to the need and requirement of the
different department of the company. The possession of right skills, talent and expertise with in
the employees helps in attaining the set objectives and goals of the company. In order to hire the
employees for the company in Japan, the HSBC group must have to find proper candidate who
effectively conduct the interview process for the company(Singh, 2018) . Individual who conduct
the interview process must ensures that proper screening of the employees must be done and
along with this proper interview round must be taken to check the skills and talent of the
candidate. In relation to the HSBC, the strategic manager of the company conducts all the rounds
of the employees in a very effective manner. This not only help in selecting a suitable candidates
for the specific job role but also help in achieving a successful position in the market for a long
period of time. In addition to this the strategic manger of the company must have to focus on
developing the effective training and programme for the employees (Bordunos and Kosheleva,
2018) . These programme helps in improving the skills of the employees which improves the
overall performance of the company in the market. Developing effective training and
programmes to improves the skills and selecting the talented employees for the company is
being considered as on of the most important functions of the human resource experts. The

success of the company is totally depend on the training of the employees which were provided
by the human resource management. Along with this the success also depend on the
opportunities available within the company. The strategic HR expert of the company also ensures
that the new joining must posses the specific knowledge and talent in order to perform all the
activities and functions of the company in a very effective manner. If the respective company
properly execute all the training and development programmes then this not only help them in
improving the retention rate of the employees with in the company but also help in enhancing
the productivity of the employees. Due to this they put more efforts for the future growth of the
company. Different business functions has also been performed in a very effective manner
because of the overall improvement in the productivity of employees, which result in the
completions of all the dealings of the company in a proper way. In order to overcome from the
problem of language barrier in Japan, the human resource management of the company must
have to provide a crash course to the employees so that they can understand the language of the
nation. With the help of this they can easily communicate with their customer and remove the
language barrier which cam in the way of achieving the success. They can also easily
communicate all the offering or goods and services of the company to their customer in very
effective manner and along with this, they can also make strong relationship with them which
benefits the organisation in future. The company also offer them free class in order to understand
the new language(de Miranda, Castro and et. al., 2020) .
In relation to the HSBC group, the strategic human resource management of the company
also helps the company in dealing with all the complexities and challenges which are faced by
the company in running their business functions. These factors has a huge impact on the business
and its plan. In order to enjoy the competitive advantage and achieve a successful position in the
market the HR management of the company must have to focus on developing the different
methods so that company can face all the problems. It is totally based on obtaining a proactive
management of workers to attain the potential values.
The policies related with SHRM that can be adopted by the HSBC Group to fit in various
situations such as declining markets, innovatory organisation and context of international.
A connection has been made by the strategic human resource management between the
human resource and the goals and objectives of the company(Triwibisono and et .al., 2017). In
relation to the HSBC Group, different types of situations such as declining market, inventory

organisation and context of internal has been faced by the company. The term declining market
can be understood as a market which decline from the maturity level and the revenues of the
company stay flat occasionally. In simple language, the sales and growth of the company either
be negative or not developing. The main reason behind the declining market is technological
innovations and evaporating demand of the consumer's. In context to the HSBC group, the
reason behind declined market id Covid 19 situation. This pandemic directly affects the sales of
different products and services of the company in a very negative manner. The profitability of
the company is affected by this pandemic and along with this, employees of the company may
have to lose their jobs(Hamadamin and Atan, 2019).
In inventory organisational situation, the management of the company must have to make
changes in their products and services. They have to modify their products and give them a new
look so that they can attract more customers which directly impact on the sales. In order to
develop the different policies and plan for the growth of company in the market the strategic
human resource management plays a very significant role along with their implementation. The
experts of the SHRM have to develop strategic approach in order to retain the skill full worker
and effectively attaining of all the objectives. Different approaches in relation to various
situations like innovation capacity and context of internationalization which have been adopted
by the company has been discussed below:-
Undertaking analysis of HR functions has been considered as the need of the company which
help in evaluating the performance of the existing employees. In context to the HSBC Group,
the management of the company must have to start the reviewing the performance of the
employees (Han and et .al., 2019). By doing this they can easily acknowledge the strengths and
weakness of the employees and along with this they can also find opportunities for the company.
Understanding organisational strategy and existing aims, states that the human resource
department of the company must have to develop their policies ans strategy according to the
different department or board areas of business. In relation to the HSBC group, the goals and
objectives of the company has been set and developed by the higher authorities of the company
and then effectively convey to the each department. Evaluation of the tools, these tools help in
defining the role of employees within the company. This is being considered as one of the most
important process of the strategic human resource management. The management of respective
company must have to focus on the partnership with the different department. Experts of

strategic HR have to identify the needs and requirements of the company. Define human
resource strategic goals: it is also very important for the strategic human resource management
to acknowledge the set objectives of the business and along with the implementation process and
techniques(Kasemsap, 2019) . Major role of the HRM is to effectively communicate all the
objective of the company to all the levels, so that it can be easily understand by each and every
employees. Culturally competent, human resources experts is also responsible for developing
healthy and culturally competent environment within the boundaries of the company. The HR
experts must have to focus on the developing the different ideas which help the employees of the
company in order to communicate and deal with the customers of the different
background(Njenga, 2018) .
TASK
CONCLUSION
From the above report it has been concluded that strategic human resource management
is being considered as connections of different techniques and HR department of the company
which focus on the long term goals and planning. They are also responsible for defining the
goals of the company. This report also concluded that, strategic planning also helps the company
in facing the different problems and complexities in respect to the HSBC Group. Different
problem has been faced by the company in order to expand their business function in Japan like
language barrier, technical incompatibility and many more. Along with this, this report also
concluded various functional aspects of the strategic human resource management. Afterwords,
various polices has been discussed which has been adopted by the company in order to overcome
from the different situations.

REFERENCES:
Books and Journals:
Alomari, Z., 2020. Does human capital moderate the relationship between strategic thinking and
strategic human resource management?. Management Science Letters. 10(3). pp.565-
574.
Ayedee, N., Kumar, M. and Shaikh, A.A., 2021. Role of Emotional Intelligence and Strategic
Human Resource Management during COVID-19 Pandemic. Academy of Strategic
Management Journal.
Bordunos, A. and Kosheleva, S., 2018. Institutional fit of Strategic Human Resource
Management: Myth, limitation or advantage?.
de Miranda Castro, M.V and et. al., 2020. Implementation of strategic human resource
management practices: a review of the national scientific production and new research
paths. Revista de Gestão.
Hamadamin, H.H. and Atan, T., 2019. The impact of strategic human resource management
practices on competitive advantage sustainability: The mediation of human capital
development and employee commitment. Sustainability. 11(20). p.5782.
Han, J.H and et .al., 2019. The goldilocks effect of strategic human resource management?
Optimizing the benefits of a high-performance work system through the dual alignment
of vertical and horizontal fit. Academy of Management Journal. 62(5). pp.1388-1412.
Kasemsap, K., 2019. Promoting strategic human resource management, organizational learning,
and knowledge management in modern organizations. In Advanced Methodologies and
Technologies in Business Operations and Management (pp. 879-891). IGI Global.
Njenga, M.W., 2018. The Influence of strategic human resource management practices on firm
performance of insurance firms in Kenya (Doctoral dissertation, Strathmore University).
Singh, N., 2018. Strategic human resource practices for innovation performance: an empirical
investigation. Benchmarking: An International Journal.
Triwibisono, C and et .al., 2017. The influence of strategic human resource management on
employee engagement. International Journal of Business and Globalisation. 19(3).
pp.414-432.