Strategic Human Resource Management

Strategic Human
Resource Management
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CONTENTS
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Evaluation of research with individual performance related pay................................................3
Circumstances related with IPRP tends for motivating employees.............................................4
Circumstances in which IPRP not perform their work well........................................................6
CONCLUSION................................................................................................................................7
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INTRODUCTION
Strategic human resources management is defined as the way through which a connection
between the human resource of an organisation as well as its strategies, objective and goal. The
main purpose of an strategic human resources management is to advance the flexibility and
innovations within organisation so that operations can be enhanced and competitive edge can be
achieved. The current report is based on determining the importance of human resource strategy
within na organisation and manner in which it remain helpful to a company in achievement their
goals and objectives (Jackson, Schuler and Jiang, 2014). For this the Barclays bank is consider
for this report which is a British multinational bank that offer range of financial services
throughout the world. The current report put emphases toward elaborating about the significance
of individual performance related pay and manner in which it support in motivating the
employees while performing their role in appropriate manner.
MAIN BODY
Evaluation of research with individual performance related pay
The performance related pay is defined as the way of managing the pay by connecting the
salary progression of an employee with the assessment of their performance which is usually
measured against the pre agreed objective. The concept of performance evaluation through the
appraisals is an essential factor constituent by the organisational management which directly
reflect about its achievement as well as progression. The performance related pay is considered
to be an essential methods for fuel up the motivation, as employees use it for accomplishing their
need and want. This is so because the employees mainly perform work for obtaining a better
salary so that they can improve their living standard and fulfil their basic need, so for this
Performance based compensation is also considered to be effective practices to adopt by an
organisation (Jiang and Li, 2019). As by providing fair compensation to its employees as per the
efforts they exert toward company it become easier to keep them motivated to perform more
better for getting high pay over their efforts.
Barclays operated in a banking sector which is well known for the quality of financial
services it provide and the customer satisfaction they hold which make it one among the top
player within banking sector. But in banking sector, the handling of financial and economic risk
at broad level is consider to be biggest challenge along with the competition in market. This
make the human resource management more significant for the Barclays bank, as by managing
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