Human Resource Management Report: HSBC, Practices and Relations

This report provides a comprehensive overview of Human Resource Management (HRM), focusing on its core functions and practices within the context of HSBC. It explores the purpose of HRM, detailing various practices such as hard and soft HRM, employee compensation, development, and recruitment strategies. The report analyzes the strengths and weaknesses of different recruitment approaches, including internal and external methods. It also examines the benefits of HRM practices for both employers and employees, emphasizing the impact of performance management, training, and development on productivity and profitability. Furthermore, the report highlights the significance of employee relations in influencing decision-making and overall organizational success, underscoring the crucial role of a positive work environment in fostering commitment and productivity. The report concludes by discussing how HRM practices can enhance employee engagement, drive better business outcomes, and improve overall organizational performance.

Human Resource
Management

INTRODUCTION
Number of employees work in an enterprise, management of those workers, their
performance and decisions is known as human resource management (Human resource
management, 2016). Under this concept, manager of firm take number of decision and do efforts
to combine the actions of all workers in a way so company can achieve its set goal and objectives
(Arrowsmith and Parker, 2013). HSBC holdings plc a British international bank which offer
various financial services to large number of customers is taken under this report for study.
Major functions and purpose of HRM with various practices related with this concept is all
detailed under this report. Different method of recruitment with its strengths and weakness is
also given in this. Further, major elements of employment relations and importance of good
employee relations in today's business environment is all detailed in this report. In addition to
this application of HRM practices in a work related context is all detailed in this.
TASK 1
P1 Purpose and functions of HRM
Management of subordinates working in enterprise is very essential for every
organisation. This help business entity to achieve its goals and easily and at the same helps in
better satisfy the needs of customers. To retain the employees for a long period of time, it is very
important for managers to offer them a safe and healthy working environment (Baluch, Salge
and Piening, 2013). Concept of human resource management helps in all this. This make the
manager able to recruit right candidate for a right job and at right time at workplace. This helps
in create the environment which encourage employees to work well at workplace. Purpose of
HRM concept is to make the process of recruitment more effective which help company in get a
skilled workforce that ensure effective completion of all business operations.
Various practices of HRM are there which are as follows: Hard HRM: In this, all employee are treated as a enterprise's equipment to complete
business activities for which an effective linked is identified with process of planning.
Major aim of manager under this is to retain the staff members for a long period of time
and all efforts are done by management to make the process of recruitment more
effective.
 Soft HRM: This approach is totally opposite form the hard approach. Under this,
enterprise see its employees as a major and valuable assets as these are the one which
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ensure effective execution of all business activities and help company to achieve its end
goals.
Major function of HRM performed by HSBC are as follows: Employee's compensation and benefits: For encourage employees to perform well and
to get a competitive advantage, it is very necessary for every business entity to offer
them fair compensation and benefits for the work they do (Caligiuri, 2014) (Conesa-
Zamora and et. al., 2011). Various factors such as minimum wage, equal pay and many
more must be consider by manager while formulating compensation packages for
workers. This increase commitment of employees towards their work and jobs. Development of workers: From all function of HRM, this is one of the most important.
As per this, manager should conduct training and development programmes for
subordinates for make them more able to perform their duties (Functions of HRM, 2017).
One of the main benefit of training programmes is that it enhance employee's creativity
which support enterprise to offer innovative products to its customers. All this provide
various long term benefits to a firm.
 Recruitment, selection and planning of manpower: Manager identify the subordinates
require to perform various jobs at workplace. After that with help of job specification and
description he undertake the recruitment process to select the right candidate for fill
vacancy at workplace.
These are the major functions of human resource management. It is very essential that all
these must be well execute and implement at workplace so HSBC can get maximum benefits.
P2 Strengths and weakness of various approaches of recruitment and selection
Recruitment is the process attracting, short-listing, selecting and appoint the right
candidate for fill a specific vacancy at workplace. This is one of the major function of HRM. It is
very necessary that this should be implement in an effective way. It helps company to get a
skilled workforce with provide competitive advantage to company (Collins, Zhu and Warner,
2012). For execute this process basically there are two approaches which can be use by HSBC to
hire candidate. Internal approach of recruitment: When current employees of company are given a
chance to fill higher job positions at workplace then this is known as internal approach of
recruitment. In this, manager examine the skills and abilities of present subordinates to
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take recruitment decision. Fast decision making is one of the feature of this recruitment
approach. Following are the strengths and weakness of this:
Strengths: This approach save both time and cost of company. As existing subordinates are
chosen under this for promotion so this motivate them to perform well (Guest, Paauwe and
Wright, 2012). This create positive working climate boost up employee's morale. Further, this
save training cost of enterprise.
Weakness: This approach fails to brings innovation at workplace. Workers who fails to get
promotion get demotivate and this hamper the productivity of enterprise. Sometimes it becomes
difficult for manager to choose the right one. External approach of recruitment: Under this, company invite candidates from outside
the enterprise to fill vacancy. It is more effective as compare to internal approach of
recruitment. Following are the strengths and weakness of this:
Strengths: This approach brings innovation at workplace which increase creativity and
productivity of company. Skills of new candidate save training cost of company. Enhance
creativity help enterprise to attract more number of customers towards its offering.
Weakness: This approach is very costly and time consuming. New workers take time to
understand the work climate and culture of company which hampers company productivity.
Further, this decrease the morale of existing subordinates.
Selection: This process is starts after the procedure of recruitment. In this, manager take
the final decision and choose a candidate for perform a specific job at workplace. Major
approaches of selection are as follows: Systematic: In this approach, recruiter follow a step by step process for take the final
decision of selection. Manager evaluate the skills and abilities of every candidate to select
a better one (Gurkov, Zelenova and Saidov, 2012). This is more popular and effective as
compare to other approaches of selection and at the same time provide better results to
enterprise.
 Unsystematic: In this, recruiter select a CV from all CV on a random basis and after that
he carry out the comparison between the skills of candidate and the qualities require to
perform the job. Individuals who pass the criteria get selected by manager.
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TASK 2
P3 Benefits of various HRM practices for employer and employee
Number of HRM practices are there but the major one are as follows: Monitoring and management of employee's performance: Today, no enterprise can
achieve success or its objectives without support and commitment of its workers. It is
very necessary for staff members to perform well as this contribute in growth of company
and at the same time provide competitive advantage to business (Hauptmann and Steger,
2013). To ensure that workers are performing their duties in a adequate manner, it is very
important for manager to evaluate and examine their performance at continuous basis.
This make the manager aware about the present abilities of staff members and also help
in identify the gap between current and actual skills. For remove the gap, if any,
managers require to offer training to staff members so they can perform well and ensure
completion of business activities in an effective way.
 Training and development of subordinates: One of the major advantage of training is
that it increase skills and knowledge of staff members which enhance their creativity and
make them able to better satisfy the needs of customers (Horwitz, 2011). Development of
skills of workers increase profits of company and provide various other benefits to
company.
Practices of HRM provide benefit to both workers and employer of company which can
be understood by following points:
Benefits to employees: Motivate subordinates to work well: Concept of HRM helps in create a positive and
healthy work climate at workplace. This ensure that fair wages must be offer to staff
members and all this encourage them to work well. Provide them training: Practices of HRM undertake performance evaluation of workers
and if manager fins any kind of gap between current and actual skills then training is
offer to workers to fill the same (Karmiloff-Smith and et. al., 2015). Training not only
increase skills of workers but at the same time help them in find new ways to complete
the work.
Benefits to employer:
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 Helps in create a positive and better work climate: When manager offer fair
compensation and growth opportunities to all workers the all this create a positive work
climate at workplace. All this enhance employee's productivity which increase profits and
market share of organisation.
 Support manager in take right decisions: One of the main benefit of HRM is that it
make the manager aware about what is going at work place and in every department. All
this guide and support him in take better decision for company.
P4 Effectiveness of various HRM practices in terms of raising profit and productivity of
organisation
Whole concept of HRM is related with the management of employees and their decision
which they take place in firm. It is very important or manager to take right decision related with
management of workers so they can contribute more in success and growth of enterprise.
Employees of company are the one which make products for customers and satisfy their need
and wants (Kim and Bae, 2017). For this, it is very important for manager to offer them training
so they can work well. Training enhance their knowledge and creativity and this make the
enterprise able to serve more number of customers.
Various practices increase profits and productivity of company for example, when
manager monitor the actions and decisions of employees then he find the needs of improvements
and offer them training, if require. This improve performance and productivity of subordinates
and when workers perform well then this directly increase profits of enterprise.
Further, training make the employees able to understand how to work with new
technology and resources and this make the final offering of company more effective and
attractive. Training helps workers to take right decisions in complex situation and also make
them able to effectively deal with every customer. This increase the number of loyal customers
and help enterprise to capture a larger market share.
When organisation offer the opportunity of flexible working hours to its employees then
it help business entity to retain the workers for long time period and at the same time enhance
their productivity. When subordinates work in time in which they want to do then it always
results in better output and increase their productivity (Park and et. al., 2014). Further, it increase
their commitment towards their jobs which increase profits of company.
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HRM practices, make the manager able to formulate better compensation packages for
employees. When staff members get fair compensation and reward for the work they do then it
enhance their morale and at the same time improve their productivity.
Overall various practices of HRM helps in create a positive working environment which
improve productivity of workers which directly increase the profits of company.
TASK 3
P5 Importance of employee relations in influencing decision making
Workers contribute a lot in success of every enterprise and today a firm cannot survive
without commitment and support of its workers. It is very necessary for employer to create and
maintain better relations with them. Quality of relation with employees affect the decision
making process of company (Pereira and Anderson, 2012). For example, when employer
maintain good relations with subordinated then workers provide full support to company to take
decision and implement any kind of change. On the opposite of it, when manager fails to
maintain good quality relation with workers then employees do not support the employer and this
also create various issues and obstacles in business process. For create good relations with
employees managers by HSBC should consider the following things:
 It is very essential for employer to treat all workers in a friendly way so they can solve
their problems and issue with them without any kind of hesitation.
 Employers should not discriminate among employees on basis of their age, colour,
gender and culture. All employees should get a fair and equal treatment.
 Involvement of workers in decision making process should be encourage as this make the
workers feel that they are valuable for firm and at the same time increase their
confidence.
 After introduction of any change, feedback of subordinated should be collected.
 Job rotation should take place in enterprise on continuous basis. This increase skills and
knowledge of employees.
 Workers who work well and hard should get a appreciation. This encourage them to
perform well and enhance their morale.
 Training must be offer to them so they can learn to work with new technology and can
offer better products to target customers. In addition this, safe and healthy working
condition should be provide to workers so they can work effectively.
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With help of all this, manager of HSBC can create and maintain good relations with
employees. Quality of this relation affect the decision making procedure of enterprise (Vo and
Stanton, 2011). For example, in case of good quality of relations employees support manager in
take business decisions which provide various benefits to company.
P6 Key elements of employment legislations and its impact on decision making
Employment legislation is a legislative body which consists various type of employment
protection measures and define the roles and responsibilities of both employer and employee
towards each other (Wagner, 2011). Various elements are included under this which affect the
decision making process of company. For example concept of minimum wage act ensure that
minimum wages must be offer to every employee so they can fulfil basic needs of their routine
life and this affect the compensation packages of workers. Major elements which cover under
this concept are stated below under the following heading: Anti-discrimination act: This act of employment legislation is made to promote the
equality of employees of a company. According to this, subordinates should not be
discriminated on basis of their colour, race, religion, culture and gender (Warner, 2014)
. When discrimination exist at workplace then it decrease the morale of employees and
hamper their productivity. Opposite of this, elimination of discrimination from workplace
create a positive work environment and ensure completion of business operations in an
effective way. Diversity act: Major focus of this act remain on the differences and similarities among
the individuals working in enterprise (Wheeler, Halbesleben and Harris, 2012). Different
factors which affect the behaviour of an individual such as education, parental status and
geographical location is all taken under this. Diversity management help enterprise in
better satisfy the needs of its customers. Data protection act: This act ensure processing of relevant data in a legal and ethical
way. Workers who do work in enterprise are responsible to keep the relevant facts and
figures confidential. Equality act: According to this act, an employer is responsible to treat all employees in
an equal way and he should not discriminate subordinated on basis of their gender.
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 Health and safety act: As per this, an employer is liable to offer safe and healthy
working conditions to employees (Zhao and et. al., 2011). Workers perform well under
risk free situations.
All these elements of employment legislation affect the decision making process of
managers and employers at workplace.
TASK 4
P7 Application of various HRM practices in an enterprise
Hotel receptionist training
Training title/ Workshop- Date- Time-
Location Trainer
Expected Participants
Activity Expected time Process Equipments
Induction or
Introduction
Objectives of Training
a)
b)
Warm up
Important Content
Necessary points
Job advertisement
Faculty require
Qualification
First class MBA/BBA in accounting from a recognised institution
How a candidate can apply?
Send your applications with one colour photograph and CV with required documents on ouir
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website. A candidate can apply till 5th February 2018.
Email-id: www.ucl.com
Contact no.: 6589745612
Job specification
Qualification Degree in health field from any recognised
University.
Adequate nursing training.
Experience Should have 1 year experience of working in
health and social care home.
Area of expertise Should have adequate information about all
medical tools.
Other qualities Able to support the patients in changing their
lifestyle.
Awareness about national and local health
policy.
Interview Questions
 What are your biggest strengths?
 What are your weakness?
 What grades did you get in your college?
 What were your roles and responsibilities when you worked at job x? Why do your want to work with us?
Person specification
Particulars Essential criteria Desirable criteria
Qualification and training Cooking qualification (NVQ) Training related with cooking
food and hygiene
Experience Delivering best services to
customers
One year experience of
working in a small kitchen
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Working under pressure
Skills and knowledge Attention to detail Entrepreneurial skills
Personal characteristics Confident, polite
Ability to work with a team
CV
General information
Name: Shoun Watson
Father's name: Jerry Watson
Mother's name: Akira Watson
Mobile no,: 6699885544
Email id: [e-mail]
Key skills:
 1 year studio experience, working with creative teams
 Adequate information of digital and film
 Understanding of PC and Mac system
 Work well with a team
 Quick to learn new methods and techniques
Experience:
 Saddington and baynes: Deal with retouching of pictures
 Prime portraits Ltd: Work as a digital corrections manager, preparing of images for
reproduction or sale.
CONCLUSION
From the given report, it can be summarised that concept of HRM helps manager in
manage the workers and their actions at workplace. This helps in create an maintain a positive
work environment at workplace which increase employee's productivity and provide various
other benefits to company. Different methods of recruitment are selection are there which can be
use by the managers of HSBC. Various factors of employment legislation must be consider by
the while formulate compensation packages of workers. To capture a larger market share and to
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achieve set goals and objectives it is very necessary for firm to create and maintain good
relations with workers. Effective implementation of HRM practices provide advantages to both
employer and employees so right decision must be taken by manager related with this.
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REFRENCES
Books and Journals
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