HRM Report: Barclays Case Study on Talent and Skills

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This report delves into the strategic approach of Human Resource Management (HRM) within Barclays, a multinational financial services company. It examines the purpose and scope of HRM in resourcing the organization with talent and skills to meet business objectives, distinguishing between hard and soft HRM approaches. The report analyzes the effectiveness of key HRM elements, including training, development, recruitment, and selection, and explores both internal and external factors influencing HRM decision-making, alongside relevant employment legislation. Furthermore, it investigates the application of HRM practices in a work-related context, particularly focusing on recruitment approaches and selection methods, and discusses the benefits of HRM practices for both employees and employers, such as payment and reward management. The report concludes by emphasizing the importance of effective HRM for achieving organizational goals and objectives.
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Human Resources
Management
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Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1 ...........................................................................................................................................3
Purpose and Scope of Human Resource Management in terms of resourcing an organisation
with talent and skills appropriate to fulfil business objectives...............................................3
TASK 2............................................................................................................................................7
Effectiveness of key elements of Human Resource Management in an organisation............7
TASK 3............................................................................................................................................9
Analyse internal and external factors that affect Human Resource Management decision
making, including employment legislation............................................................................9
TASK 4..........................................................................................................................................12
Application of HRM practices in work related context........................................................12
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................17
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INTRODUCTION
Human Resource Management (HRM) is considered as strategic approach to effective
management of individual in organisation for achievement of competitive advantage (Al Ariss
and et. al., 2014). HRM is the important function which lies within enterprise. These department
is responsible for recruitment, training and development, hiring, rewarding, performance
appraisal and others. The HR manager of organisation should be skilled, knowledgeable and
experiences so that they can select best candidate for given job profile. The given assignment is
based on Barclays which was founded in 1690 at England, United Kingdom. It is multinational
financial services and investment bank company. This deals in four core business such as
corporate banking, investment management, wealth management and personal banking. It
highlights about scope and purpose of HRM related with skills and talent for business objectives.
The effectiveness of key elements and internal, external factors along with legislation are
discussed in report. There are some HRM practices related with work context are highlighted in
assignment.
TASK 1
Purpose and Scope of Human Resource Management in terms of resourcing an organisation with
talent and skills appropriate to fulfil business objectives
Definition of HRM
HRM is process for developing and hiring employees in order to become them valuable
to organisation. It is considered as important functions of enterprise as they carry different
activities of business. It includes conducting job analyse, recruiting right person for job, planning
personnel needs, management of salaries and wages, training and development, providing
incentives and benefits and evaluation of performance (human resource management (HRM),
2019).
Hard and Soft HRM
In hard HRM, employees are treated as resources of business such as buildings and
machinery. There is less communication, little delegation of roles and responsibilities and pay
minimum wages to staff (An, 2012). If Barclays use such approach in their business then
employees cannot survive for longer period of time as it is focus towards goals and objectives of
organisation.
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In soft HRM, employees are treated as important resources of business and source of
competitive advantage. Organisation focus on roles, motivation and rewards of employees. There
is two way communication, long term planning and high delegation of roles and responsibilities
(Donate and de Pablo, 2015). Barclays can use such approach and provide motivation, incentives
for good performance. As it helps in encouraging staff which focus more on needs of employees
rather than organisation.
Purpose of HRM
The main purpose of HRM is to build and develop positive and strong relationship among
employee and employer for obtaining organisational goals and objectives in effective manner.
The HR manager of Barclays, it can be said that they formulates policies and strategies in
effective manner that influences interest of staff and persuades them for longer period of time in
same company.
Functions of HRM
The important functions of HRM are described below:
Training and Development- It is also considered as important functions of HR where
organisation develop knowledge and skills of staff through help of training and development for
specified job profile (Alfes and et. al., 2013). The main purpose of such functions is to gain
competitive advantage through help of highly knowledgeable and skilled staff. Barclays can
achieve objectives by improving employees on continuous basis.
Recruitment and Selection- This is regarded as first and foremost HR functions of
organisation. Barclays should recruits and selects candidates on basis of skills possessed by them
which could meet vacant position. The main purpose of such functions is to fulfils workforce
requirement who can work for goal achievement (Durst and Runar Edvardsson, 2012). The HR
manager of Barclays select best talent for enterprise who could work effectively.
Managing good relation with employee- Employees are considered as a pillar of every
organisations (Bratton and Gold, 2017). Employee relation is very huge concepts which aid
manager of Barclays to foster effective relation with workers. The well planned workers
relationship will promote balanced and healthy relation among employer and staff members.
Maintain and develop good working environment- It is responsibility of manager to
provide effective and good working environment to staff and employees. In present environment
of business, workers cannot work under uncomfortable surroundings. This is a crucial role and
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duties of Barclays human resource manager to provide healthy working condition to its
subordinates which encourage workers and enhance productivity (Golicic and Smith, 2013).
In organisation, recruitment and selection plays an essential role in success of business.
Recruitment is the methods where candidates can apply for vacant position in company. The
main purpose is to hire effective individuals and staff. Similarly, selection is the method where
organisation chose best candidates from applied post by individuals. The main aim is to select
pool of applicants from talent. There are different approaches to recruitment and selection used
by Barclays along with their strengths and weaknesses are as follows:
Recruitment Approaches
In recruitment approaches, there are internal and external methods along with strengths
and weaknesses are as follows:
Internal Recruitment- It is method in which company fills vacant seats within existing
employees (Cascio, 2015). It comprise promotions, employee referrals, word of mouth etc. The
strengths and weaknesses are as follows:
Strength- This methods requires less time for hiring as candidates are hired within
existing employees of organisation. New hires can adjust easily as roles and
responsibilities are already known. Barclays can use such for hiring better employees in
organisation.
Weaknesses- This method limit pool of application if enterprise hire for new division
where existing may lack skills and knowledge. Barclays can use such methods but there
are many employees who lack skill required for particular field.
External Recruitment- This is method where organisation acquire pool of job
candidates rather than existing one (Daley, 2012). It includes techniques such as job portal, walk-
ins, campus recruitment. The strengths and weaknesses are s follows:
Strength- It provide opportunity to outsider employees where organisation can find right
candidates for given job profile. This method bring fresh talent to firm which motivate
current employees. Barclays can use such methods as new talents different ways for
solving particular problems.
Weaknesses- This method require high cost and take longer period of time for hiring.
This reduced employee morale as current staff has less chance for promotion that reduces
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productivity and morale. This can reduce morale of Barclays staff as promotion within
organisation can decline.
Selection Approaches
There are two methods of selection approaches such as systematic and unsystematic with
their strengths and weaknesses are as follows:
Systematic Approach- It is systematic process used by Barclays in order to hire skilled
and knowledgeable people. This approaches requires some steps such as job analysis, person
specification, description, marketing, assessing nominee, short listing, reference obtaining,
choosing, creation of innovative efforts, initiating new employees (Jackson, Schuler and Jiang,
2014). All activities are carried out in systematic manner to choose best candidates. The strength
and weaknesses of such approach are as follows: Strengths- Through systematic approach more number of workers are attracted and there
is no disputes and misunderstanding between personnel can occur. This can helps
Barclays to achieve result without any disputes.
Weaknesses- Though this approach is length for Barclays and cost required is high as
compared to other.
Unsystematic Approach- This approach is used by only few company for selection of
right candidate for given job profile (Jiang and et. al., 2012). The HR manager of Barclays chose
curriculum vitae (CV) from various documents and on that basis talented and skilled is chosen.
The strength and weaknesses of unsystematic approach are as follows: Strengths- This approach helps individuals to enhance skills, knowledge for job
performance and aid outsider candidates who applied for given job. The employees
working in Barclays can improve their skills and knowledge for better work performance.
Weaknesses- This approach is not suitable for inside candidates of firm and there is high
development of disputes among employers and workers. The disputes rise in Barclays
that leads to decline in productivity and profitability.
From this task, it can be concluded that organisation need proper human resource
management for running their activities and task. There are purpose of HRM which helps in
achieving goals and objectives. Different functions of HRM provide help to business to work
properly in order to achieve goals and objectives. There are recruitment and selection approaches
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for organisation which have their own strengths and weaknesses. This can help to recruit and
select skilled and knowledgeable candidate for given profile.
TASK 2
Effectiveness of key elements of Human Resource Management in an organisation
HRM Practices
Barclays, which has a big role in investment, corporate and personal banking system, and
regulates all new services with perfect stability in the market. It has many different services
which update the market, financing activity in an appropriate manner, HRM practices play a vital
role in its stability of working cultures (Grichnik and et. al., 2014). Some of benefits which an
employee and an employer can get from unique formation of HRM practices in the company
which are described below:
HRM Practices Benefits to Employees
Stability of employees or to give benefits in improving employee turnover. It increase in
employee turnover, which is beneficial to get familiar with company and experienced people
remain in the same company give more benefits. It help in making a formal interaction in
between different departments in a way to resolve all grudges and resolution between them. It
put more efforts in improving the performance of employees as to get the knowledge of previous
work, which analysis on various aspects, so to improve in an appropriate manner. Put an eye on
budget control as to get the business for future smooth sailing, HRM practices deal with 360
degree feedback and finds an appropriate annual pay review of employees which help in cost
cutting for a future in business (Jeston, 2014). Continuous appraisal system, in terms of payment
and reward HRM practices has a vital role while motivating employees to do hard work in
getting efficient and effective work in company. HRM practices promote an optimistic
atmosphere among employees as to give them proper management regarding promotion, benefits
or any other conflicts in Barclays.
HRM Practices Benefits to Employers
Strategies framing, HRM practices put efforts in framing different strategies and provide
a hidden platform to different employers as to get more benefits in the company (Kehoe and
Wright, 2013). HRM practices focus on planning workforce environment and develop an
effective and efficient training for employer to know their hidden skills. It mange all the risk
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regarding employer retention and maintain a value of the company in the mind of people out
there. HRM Practices help in framing policies and focus on employer future growth with the aim
of company's objective in mind.
HRM Practices
HRM is strategic and planned approach for managing people and their performance
effectively. HRM practices are guidance system which coordinates with business plan. This
consists of practices which enhance motivation, workforce ability and opportunity for higher
performance (Noe and et. al., 2017). The practices of HRM helps in increasing profits and
productivity of business for achievement of goals and objectives. Every organisation need to
follow such practices in their business for proper guidance and work accordingly. There are
various types of HRM practices which can be followed in organisation such as flexible working
options, payment and reward management, employee performance management and monitoring,
and learning development and training. Such practices helps Barclays to increase their
productivity and profit for longer period of time. The effectiveness of payment and reward
management of Barclays practices is described below:
Payment and Reward Management- This practices is concerned with implementation
and formulation of policies and practices which aim to reward people in fair and equal manner as
per value of organisation. It consists of controlling and analysing employee compensation,
remuneration and benefits of employees (Ployhart and et. al., 2014). This practices aims for
creating and operating reward structure for organisation. The structure consists of salary, pay
policy, payroll administration, minimum wages, team rewards, executive pay, total rewards. As
Barclays is large banking and financial sector which provide services to consumers. This
payment and reward management practices is very important for such industry. If employee
working in Barclays are provided with good pay and rewards in terms of benefits, motivation,
promotion then they work for organisation goals rather than individual goals. It is important for
organisation to treat workforce in effective and efficient manner. This practices has potential
benefits for staffs working in banking and investment sectors. It helps in increasing skills,
improving motivation, empowering employees for achievement of goal and objectives. Thus,
these above are the effectiveness of HRM practices. For example, employees working in
Barclays are provide with reward for their performance then they get motivated towards
organisation and give their best in doing in better and effective manner way. All working staff
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should be made time payment for work done so that they give best in achievement of both
individual as well organisational goals and objectives.
Reward and Reward Management Theory
According to view of Kerzner and Kerzner 2017, reward and reward management theory
is reinforcement theory which aim is to achieve high level of motivation among employees
through punishment, extinction and reinforcement. It has both positive and negative impact on
employees. When staff of Barclays behave in positive manner then response towards them is
positive. This leads to reward to employees who are working in better manner. Similarly, when
employees behaves negatively then they are punished and not liable for rewards. Punishment
means imposing negative result or removing positive consequences where employees are
preventing from undesirable behaviours which can be positive and negative (Employee Motivation -
Reinforcement Theory, 2019).
TASK 3
Analyse internal and external factors that affect Human Resource Management decision making,
including employment legislation
Employee Relations
It is also known as industrial relations which concern on emotional, contractual, practical
and physical relationship among employee and employer (Purce, 2014). There should be mutual
respect, open communication and trust among each other. The organisation with good relation
with employees provide fair treatment to all staff which leads them to committed towards jobs
and loyal to company. The strong relationship resolve and prevent problems which arise in
workplace. The HR manager of Barclays should maintain good relationship with each and every
staff so that they can work for organisation and its goals and objectives. Thus, employee relation
helps in making effective and efficient decision for organisation.
Importance of Employee Relations
Some of importance of employee relations are as follows:
Increase Productivity- Employee relations helps in creating good atmosphere within
organisation that leads to increase employee motivation and morale. Barclays can increase their
productivity through good relationship with employee which leads to rise in profit. Each and
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every members working in organisation should maintain effective relationship with each other
for result achievement.
Employee Loyalty- The creation of pleasant and productive work environment has effect
on loyalty of employee and their business. The loyal staff work for betterment of organisation
and there is low turnover. Barclays can improve employee loyalty through employee relations.
They should be provide with salary, wages, benefits so that they work in organisation for longer
period of time (Why Employee Relations are Important in an Organization, 2019).
Low Conflict- When employees are provided with friendly and comfort environment
then conflict reduces. Barclays should maintain effective relationship with employees so that
they can work for organisation and provide them with friendly workplace. As it is said happy
workforce leads to productive output. The success and failure of organisation depends upon
employee relations.
Strategy for Improving Employee Engagement
Employee Engagement is extent where staff feel passionate about jobs and are committed
to enterprise and put efforts for work given. It is property of relationship among employee and
organisation. They goes beyond activities such as events, games and drive performance. Barclays
need to include their each and every staff for better result. This help them to feel motivated and
encouraged towards goals and objectives of organisation. In order to improve employee
engagement in firm, various strategy has been formulated. These strategy helps enterprise to
work in effective manner. The implemented strategy for improving employee engagement by
Barclays is performance review where firm set clear expectations with teammates and evaluation
is done. Employee should be given feedback and performance review regarding their work
performance so that they can improve themselves for betterment of organisation. Thus, this aid
for improvement of staff and their working styles.
Payment and Reward Management
For engaging employees and decreasing employee turnover, it is very important for
Barclays to provide payment and reward to their staff. This can help respective organisation for
achieving their goals and objectives in better and effective manner. For instance, all employees
working in any organisation should be given time payment and in case of outstanding
performance they should be given reward for motivating and encouraging them. Thus, this helps
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in creating positive attitude towards organisation and employees to give their best in order to
achieve their goals.
Employment Legislations
It is law which governs employment within workplace with everyone whoever work in
organisation. This laws affect employee, employer and unions directly (Renwick, Redman and
Maguire, 2013). These legislations is becoming controversial because of impact on public
concerns and businesses. The main role of employment laws is to ensure that it helps in
identifying who can and cannot be employed, whom to offer job and treated during engagement
process, minimum terms and conditions under which they can work. Barclays has also followed
laws in their business for running it in effective manner.
Key elements of Employment legislations
Some of key elements of employment legislations are as follows:
Providing equal employment opportunity to everyone who is looking for jobs
For better work environment, prevent sexual harassment
Remuneration and wages should be paid for service and work
The working employees should be provided with social security, safety, welfare and
health care.
There should be fixing working hours that is working time regulations.
Impact of legislations Upon Decision Making
The safety measurement and workplace design of workers where each and every
employer should comply with requirements otherwise they will be penalised. This can impact
decision making of HR manager where they should provide equality and fair treatment to staff
and formulate policies and plan accordingly (Vaiman, Scullion and Collings, 2012). Employment
legislation impact social security plans and provisions which depends on nature of job and
situations. The impact of employment legislations are as follows:
Equality Act, 2010- This act protect individual from discrimination in society as well as
workplace. It is act of Parliament of United Kingdom for purpose of providing equality to each
and every people (Wright, 2018). There should not be discrimination on basis of religion,
disability, age, gender, sexual harassment. Barclays need to implement such act in their
organisation for providing equality to each and every people. This helps staff to work in effective
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