Strategic Human Resource Project

Strategic Human
Resource Project

Table of Contents
INTRODUCTION...........................................................................................................................4
Talent Selection...............................................................................................................................4
Identifying the goal of the organisation and understanding its requirement- ........................4
Sourcing and attracting of talent.............................................................................................4
Recruiting and selecting the talent.........................................................................................5
Employee retention ................................................................................................................5
Promotion...............................................................................................................................5
Performance Appraisal...........................................................................................................5
Succession planning...............................................................................................................5
Recommendations..................................................................................................................6
Managing Employees Performance /Performance Appraisals .......................................................6
Management by Objectives (MBO).......................................................................................6
360-Degree Feedback.............................................................................................................6
Annual Performance Review .................................................................................................7
Recommendations..................................................................................................................7
Training and Coaching Employee ..................................................................................................7
On the job training..................................................................................................................7
Bank-wide Student Training Program....................................................................................8
Foster transparency.................................................................................................................8
Create clear objectives and goals...........................................................................................8
Recommendation....................................................................................................................8
Establishing employee pay structure/ compensation.......................................................................9
Competence of the employee ................................................................................................9
Roles, responsibilities and duties of the employees ..............................................................9
Government Regulations........................................................................................................9
Recommendation..................................................................................................................10
Learning and development of employees for future success ........................................................10
Personal development ..........................................................................................................10
Professional Training............................................................................................................11

Employee Engagement.........................................................................................................11
Recommendation..................................................................................................................11
CONCLUSION..............................................................................................................................11
REFERENCES................................................................................................................................1

INTRODUCTION
Strategic Human resource is a contemporary approach to deal with workforce in an
organisation. This approach has not only focused on ideal management of human resources but
also ensure that long term objectives of the business are fulfilled. Strategic Human resource
management attempts to form a culture that is productive and simultaneously contributes in
improving business processes. For this report, the company taken into consideration is Bank of
Montreal which is a Canadian multinational investment bank. They have been serving 12 Million
customers for personal banking, commercial banking and also provides services for wealth
management and investment. For the specific assessment of HR practices and policies, there will
be an evaluation of the agility of different human resource functions such as Talent selection,
performance appraisals, training & coaching, compensation and most importantly learning and
development for employees to achieve success.
Talent Selection
Talent selection is one of the core function that is to be performed within the business as
this will enable the association with the best of their employees by selecting them on the basis of
their required skills and knowledge. This is also coined as the term of selecting the right person
at right time for the right position so that utilisation of their effective talent can be done on a
systematic way (Mone and London, 2018). The BMO will focus on the recruitment of their
employees through the proper talent selection pool. This pool will enable the manager with
assessment and alignment of the employees for future position based on the further design and
process of the organisation. In order to hire the most effective talent for the business the manager
of BMO carries out several processes which are as mentioned :
Identifying the goal of the organisation and understanding its requirement-
This steps is the prime step within the business before hiring of the talent. In this the
manager of BMO focuses on defining the goal and identifying that who will be the person who
could contribute their efforts in achieving this desire goal so that the working can be performed
in a smooth manner (MacLennan, 2017).
Sourcing and attracting of talent
This step is the next step to the identification of the requirement. In this phase the
consideration will be given more on the searching of the required talent by going through