HSBC Bank Australia: Globalisation, Talent, Technology, and Demography

This report examines the profound changes in the business environment brought about by globalisation and their impact on talent management, using HSBC Bank Australia as a case study. It explores how multinational organisations face challenges in motivating and retaining employees in a globalised world, emphasising the importance of strong communication channels and employee empowerment. The report delves into the role of technology in talent management, highlighting the need for companies to encourage technological advancements, hire skilled workers, and maintain up-to-date technological infrastructure. Furthermore, it addresses the significance of cultural intelligence for multinational companies to effectively manage employees and customers from diverse cultural backgrounds. The report concludes by summarising the key challenges and offering insights into navigating the complexities of globalisation, technological advancements, and demographic shifts in the modern business landscape.

Running head: GLOBALISATION
Globalisation
Name of the Student:
Name of the University:
Author Note:

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Table of Contents
Introduction:....................................................................................................................................1
Globalisation:...................................................................................................................................1
Communicate better:....................................................................................................................1
Empowerment of employees:......................................................................................................2
Technology:.....................................................................................................................................3
Encourage them to improve technology:.....................................................................................3
Hire more talent worker in the area:............................................................................................3
Companies should be up-to-date:................................................................................................4
Demographic:..................................................................................................................................5
Conclusion:......................................................................................................................................6
References:......................................................................................................................................7

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Introduction:
The aim of the paper is to study the changes in the business environment ushered by
globalisation and management of talent in the light of the challenges posed by these changes.
The study is conducted taking HSBC Bank Australia as the base. The assignment has been
divided into three sections namely, globalisation, technology and demography. The globalisation
section delves into the ways to motivate employees keeping globalisation in the backdrop. The
second section deals with the challenges posed by globalisation towards MNCS in terms of
technology. The third section studies the needs for multinational companies to be culturally
intelligent to be able to deal with employees and customers from diverse cultures.
Globalisation:
The multinational organisations face the challenge of motivating and maintain employees
due to globalisation. Globalisation has allowed the business organisations to expand into new
economies. For example, HSBC Bank is based in London, the United Kingdom. The
international bank has expanded into many countries including Australia. This foreign expansion
of multinational companies has allowed them to get access to new consumer base and employee
bases. Australia is a developed market, which provides the multinational bank with skilled
employees who contribute towards the high market performance of the bank (Yamao and
Sekiguchi 2015). The multinational organisations like HSBC bank motivate and maintain their
employees in the following ways:
Communicate better:
The multinational companies should establish a strong channel of communication with
their employees. The departmental heads should communicate the targets of each employee

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clearly. They should allow their subordinates employees to take part in decision-making process,
which would make them feel responsible towards their duties. The subordinates should be
encouraged to express their fears, pressures and insecurities with higher officials. The
multinational companies like HSBC Bank operate in several markets in the world like Australia.
They have to compete with several other strong competitors to attain and retain their competitive
position in the market. This requires them to motivate their employees to achieve high degree of
efficiency(Raab, Ambos and Tallman 2014). Transparent communication motivates employees
to function more efficiently towards strengthening the market position of the multinational
companies. HSBC Australia serves a large number of business and domestic customers. This
requires the employees of the bank to be motivated to provide service to these customer base
with diverse needs. Thus, it can be inferred that transparent communication among junior and
senior employee help the bank to motivate its employees to serve the customers
efficiently(Lupton and Beamish 2014).
Empowerment of employees:
Globalisation has led to the multinational organisations to empower their employees to
take business decisions to take advantage of market opportunities. It has led to the expansion of
multinational companies into new host market, which has brought these companies under
influence of macro-environmental influences like political, economical and technological factors.
The companies today are required to make their decision making process more streamlined to
enable them to take advantage of the market opportunities in the host countries as well.
Multinational banks like HSBC Bank Australia put emphasis on empowerment of employees to
enable them to take prompt business decisions. Empowerment of employees motivates them to

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get more involved in the operations of the company and serve customers better(Skudiene et al.
2013).
Technology:
Advancement of new technology has made the multinational companies improve the
technical knowledge of their employees, hire staff that are more technical and update their
technology on regular basis. The key technology factors driving talent management are as
follows:
Encourage them to improve technology:
Advancement in technology has encouraged employees to adopt new gadgets and
technology in their professional and personal lives. Globalisation has brought about advancement
in new technology which the encourages the multinational companies to make their production
facilities more advanced. The multinational companies should encourage their workers to gain
knowledge in modern technology and use the same while operating and serving customers. For
example, the banking industry is experiencing a very high rate of technical advancement, which
has impacted the banking product line as well(Baptista and Oliveira 2015). The banks today
offer products like mobile banking, net banking and online fund transfer facilities, which allow
customers to bank as per their conveniences. HSBC Bank Australia should encourage its
employees to educate themselves in these new technological advancements so that they can
encourage the customers to use them and increase the revenue generation of the
bank(Hsbc.com.au. 2017).

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Hire more talent worker in the area:
The multinational companies should hire more talent workers to bring about more
technological and innovative improvements in their operations. Globalisation has made the
organisations adopt modern technology to upgrade their operations. The multinational companies
are present in geographically dispersed locations even within a single host country. They
managers posted in these various locations require communicating with each other to take crucial
business decisions. For example, the managers of the various branches of HSBC Bank Australia
require to hold meetings while making business strategies concerning the Australian market and
integrate those plans with their international startegies(Wanyama 2016). This requires the
multinational companies to be very strong technically and acquire advanced communication
infrastructure like cloud computing and teleconferencing. This requires the multinational
companies like HSBC Bank Australia to hire workforce, which have deep knowledge about
technology. The multinational banks like HSBC require conducting continuous research and
development to improve their digital products and add new features to them. This necessity to
continuously improve technologically has necessitated the multinational banks to employ more
talent to work in the areas of technology and innovation(Kinyua, Muathe and Kilika 2015).
Companies should be up-to-date:
Technology has emerged as a new form of capital and the companies need to update their
technological infrastructure to maintain their competitive position in the local and international
market. The multinational banks like HSBC Bank Australia today cater a huge consumer base
both domestic and business customers. These companies require holding a large number of data
about customers to be able to serve them appropriately. This requirement to hold vast customer
data requires them to upgrade their knowledge management system. The multinational

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companies today need to acquire, share and use a vast body of data with their business partners
like management and employees to execute business strategies(Lilly and Juma 2014). The
multinational banks like HSBC Australia has to handle a great deal of data which is financial in
nature and have to secure them against data threats. These threats to the crucial business data
require the banks to install security infrastructure. The banks today collaborate with other
companies like debit card making companies and insurance companies to provide their
customers with new age banking products like debit cards and insurance products. All these
requirements demand the banks to upgrade their technological systems and allocate funds
towards these advancements on continuous basis. Thus, it can be inferred from the discussion
that globalisation challenge these banks to keep their systems up-to-date on regular basis(Ngugi
and Karina 2013).
Demographic:
The multinational companies today require to employ talent from their host countries and
serve a customers from diverse cultural background which require them to acquire cultural
intelligence. Difference in cultural perception between the managers and their subordinates
create communication gap which impedes departmental performances which ultimately impacts
the performances of the entire organisations as a whole. Thus difference in culture is a challenge
which the multinational organisations have to manage as a result of their expansion into
countries with diverse cultures(Daft 2014). The multinational banks like HSBC Australia employ
people in their host countries like Australia. The cultural perceptions of the Australians are very
different from the cultural perception of the apex management in Britain. This requires the
departmental heads to have information about the cultural perception of the Australian people to
be able to employ them and retain them. Understanding of multiple cultures helps the managers

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to create strong communication channels with their subordinates. The subordinates on the other
hand feel motivation to work under managers who understand their cultures. Moreover, these
multinational banks serve the people of Australia with their products. Their knowledge about the
cultures of the people of Australia helps them to offer appropriate banking products. This helps
the banks to offer products that are more appropriate and handle the customers’ complaints more
effectively. This enables customer satisfaction and the customers keep on banking with HSBBC
Australia on regular basis. This yields high revenue from continuous transactions with
customers. This also helps the multinational bank to acquire and retain competitive advantage in
the Australian market. This discussion shows that the multinational banks like HSBC Bank,
Australia require to have cultural intelligence to be able to exploit the talent of Australia. It is
requires to be able to understand the needs of the customers in Australia and offer them with
appropriate banking solutions(Du Toit 2013).
Conclusion:
The above study shows that globalisation and changes in the modern business world have
placed the multinational companies before diverse challenges. The first challenge, which the
multinational companies have deal with, is to motivate their employees to over achieve their
targets. The second challenge, which these companies have to deal with, is the need to strengthen
them technologically and keep on allocating huge funds towards technological advancements.
The third challenge, which these companies have to face, is the requirement to be culturally
intelligence and have knowledge about diverse cultures.

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References:
Baptista, G. and Oliveira, T., 2015. Understanding mobile banking: The unified theory of
acceptance and use of technology combined with cultural moderators. Computers in Human
Behavior, 50, pp.418-430.
Daft, R.L., 2014. The leadership experience. Cengage Learning.
Du Toit, A.S.A., 2013. Comparative study of competitive intelligence practices between two
retail banks in Brazil and South Africa. Journal of Intelligence Studies in Business, 3(2).
Hsbc.com.au. (2017). HSBC Bank Australia - Personal Banking | HSBC Australia. [online]
Available at: https://www.hsbc.com.au/1/2/ [Accessed 14 Sep. 2017].
Kinyua, G.M., Muathe, S.M.A. and Kilika, J.M., 2015. Effect of knowledge conversion and
knowledge application on performance of commercial banks in Kenya. International Journal of
Education and Research, 3(10), pp.431-445.
Lilly, L. and Juma, D., 2014. Influence of Strategic Innovation on Performance of Commercial
Banks in Kenya: The Case of Kenya Commercial Bank in Nairobi County. European Journal of
Business Management, 2(1), pp.336-341.
Lupton, N. and Beamish, P., 2014. Organizational structure and knowledge-practice diffusion in
the MNC. Journal of Knowledge Management, 18(4), pp.710-727.
Ngugi, K. and Karina, B., 2013. Effect of innovation strategy on performance of commercial
banks in Kenya. International Journal of Social Sciences and Entrepreneurship, 1(3), pp.158-
170.
Raab, K.J., Ambos, B. and Tallman, S., 2014. Strong or invisible hands?–Managerial
involvement in the knowledge sharing process of globally dispersed knowledge groups. Journal
of World Business, 49(1), pp.32-41.

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Skudiene, V., Everhart, D.D., Slepikaite, K. and Reardon, J., 2013. Front-Line Employees'
Recognition And Empowerment Effect On Retail Bank Customers' Perceived Value. Journal of
Service Science (Online), 6(1), p.105.
Wanyama, F.O., 2016. Surviving liberalization: the cooperative movement in Kenya.
Yamao, S. and Sekiguchi, T., 2015. Employee commitment to corporate globalization: The role
of English language proficiency and human resource practices. Journal of World Business, 50(1),
pp.168-179.