Review of HRM Practices in the Australian Financial Sector

This report provides a comprehensive review of four peer-reviewed journal articles focusing on human resource management (HRM) within the Australian financial sector. The analysis covers various aspects, including the evolution of HRM practices, the adoption of strategic human resource management (SHRM), industrial relations frameworks, and the impact of supervisor support and work-life balance initiatives. The articles explore the factors driving changes in HRM, the effects on core HRM processes, and the outcomes for organizations, such as improved employee performance and revenue. The review also examines how SHRM contributes to achieving organizational goals, the role of HR professionals in managing employer-employee relations, and the importance of HR planning in promoting employee well-being and work-life balance. The student identifies the relevance of each article to their essay, highlighting key insights into the Australian financial sector's HRM landscape.

Running head: MANAGEMENT OF HUMAN RESOURCES
MANAGEMENT OF HUMAN RESOURCES IN THE FINANCIAL SECTOR
Name of the Student:
Name of the University:
Author’s Note:

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Article 1
Full Reference
Susomrith, P., & Brown, A. (2017). The core processes adopted for outsourcing HRM in
Australia and its outcomes. Management Decision, 55(7), 1521-1535. Retrieved from
https://www.emerald.com/insight/content/doi/10.1108/MD-05-2016-0333/full/html
Outline of Research Objectives and Research Questions
The research objectives used in this article are given below-
1. To understand the factors which have contributed towards the change in the HRM
practices followed by the financial sector
2. To analyze the manner in which the changes in HRM practices have affected the core
HRM processes used by the organisations related to the financial sector
3. To determine the outcomes of the changes in HRM practices on the organisations related
to the financial sector
The research questions used in this article are given below-
1. What are the factors which have contributed towards the change in the HRM practices
followed by the financial sector?
2. In what ways the changes in HRM practices have affected the core HRM processes used
by the organisations related to the financial sector?
3. What are the outcomes of the changes in HRM practices for the organisations related to
the financial sector?

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Outline of the Research Methodology
Susomrith and Brown (2017) conducted surveys with 436 employees related to four
major Australian business corporations associated with the financial sector of the nation of
Australia for collecting the primary data which in turn helped in the completion of the article.
This primary data was analyzed by Susomrith and Brown following the method of quantitative
data analysis method through the usage of the tool of SPSS.
Discussion of the Findings
The results of the survey conducted by Susomrith and Brown clearly revealed the fact
that “the changes in the industry requirements and also the changing market or the customer
demands coupled with the diversity of the job roles that the employees are required to perform
have directly contributed towards the change in HRM practices”. More importantly, Susomrith
and Brown (2017) found that these changes necessitated a change in the HRM practices followed
by the corporation which in turn required a change within the framework of the core HRM
processes followed by the corporations as well. For example, the corporations had to modify the
rewards, compensations, HR planning and other processes used by them in order to effectively
incorporate these changes. Moreover, the article clearly reveals the fact that these changes have
positively affected the employee performance and thereby contributed towards the enhancement
of the revenue earned by them as well.
Summary of the Conclusions
Susomrith and Brown (2017) sum up the article by stating the viewpoint that the
evolution of the HRM or for that matter the changes that the HRM had undergone in the nation
of Australia had positively affected the different financial corporations of the concerned nation.

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However, at the same time it needs to be said that in order to derive the necessary benefits that
the corporations had been required to drastically modify the HR practices as well as the
processes used by them.
Indication of how this will be relevant for your Essay 3
The article of Susomrith and Brown (2017) published in “Management Decision” will be
an important resource for my Essay 3 because of the information that it offers regarding the
concept of evolution of HRM in the financial sector of the nation of Australia. Furthermore, the
article also illustrates the key changes that the corporations have made within the HRM practices
and processes followed by them in order to integrate the necessary changes.

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Article 2
Full Reference
Sablok, G., Stanton, P., Bartram, T., Burgess, J., & Boyle, B. (2017). Human resource
development practices, managers and multinational enterprises in Australia: Thinking
globally, acting locally. Education+ Training, 59(5), 483-501. Retrieved from
https://www.emerald.com/insight/content/doi/10.1108/ET-02-2016-0023/full/html
Outline of Research Objectives and Research Questions
The research objectives used in this article are given below-
1. To understand the factors which have contributed towards the usage of the strategic
human resource management (SHRM) by the HR professionals in the financial sector of
Australia
2. To evaluate the benefits offered by the usage of SHRM by the HR professionals to the
corporations related to the financial sector of Australia
3. To recommend ways through which the HR professionals can effectively use the process
of SHRM to contribute effectively towards organizational growth in the financial sector
of Australia
The research questions used in this article are given below-
1. What are the factors which have contributed towards the usage of the strategic human
resource management (SHRM) by the HR professionals in the financial sector of
Australia?

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2. What are the benefits offered by the usage of SHRM by the HR professionals to the
corporations related to the financial sector of Australia?
3. What are ways through which the HR professionals can effectively use the process of
SHRM to contribute effectively towards organizational growth in the financial sector of
Australia?
Outline of the Research Methodology
Sablok et al. (2017) conducted surveys with 211 HR professionals related to the different
financial corporations of the nation of Australia for the collection of the required primary data
needed for the completion of the article. In addition to this, the process of quantitative data
analysis was adopted by Sablok et al. (2017) and also the tool of SPSS for the analysis of the
primary data which had been collected.
Discussion of the Findings
Sablok et al. (2017) through the analysis of the results of the survey found that an
important factor which motivated the “different business corporations and also the HR
professionals related to them to take the help of the process of SHRM was the opportunity to
help the corporation to attain its overall business or strategic goals or objectives”. In this relation,
it needs to be said that the HR professionals by linking the different departments of the
corporations and also by aligning the individual objectives or the goals of the different
employees with the overall goals or the objectives of the corporations have the opportunity to
attain this particular end. In addition to these, the effective usage of the process of SHRM helped
the corporations to enhance employee performance and thereby increase the revenue earned by
them as well.

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Summary of the Conclusions
Sablok et al. (2017) concluded the article by stating that the effective usage of the process
of SHRM by the HR professionals and also the business corporations offered various benefits to
them. Furthermore, the article clearly indicates the fact that one of the most factors which
motivates the corporations to take the help of the process of SHRM is take the help of the
process of SHRM is to strategically align the individuals with the overall goals or objectives of
the corporation itself.
Indication of how this will be relevant for your Essay 3
The article of Sablok et al. (2017) published in “Education+ Training” is an important
one from the perspective of Essay 3. I have selected this article since it offers useful information
regarding the process of SHRM, the factors which motivate the business corporations and also
the HR professionals to take the help of the same, the benefits offered by it and others.

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Article 3
Full Reference
Bartram, T., Boyle, B., Stanton, P., Burgess, J., & McDonnell, A. (2015). Multinational
enterprises and industrial relations: A research agenda for the 21st century. Journal of
Industrial Relations, 57(2), 127-145. Retrieved from
https://journals.sagepub.com/doi/abs/10.1177/0022185614564379
Outline of Research Objectives and Research Questions
The research objectives used in this article are given below-
1. To understand the factors which have contributed towards the change in the relationship
between the employer and the employees within the financial sector
2. To analyze the role played by the HR professionals in managing the relation between the
employer and the employees within the financial sector
3. To recommend ways through which the HR professionals can help in the effective
management of the relation between the employer and the employees within the financial
sector
The research questions used in this article are given below-
1. What are the factors which have contributed towards the change in the relationship
between the employer and the employees within the financial sector
2. What is the role played by the HR professionals in managing the relation between the
employer and the employees within the financial sector

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3. What are the ways through which the HR professionals can help in the effective
management of the relation between the employer and the employees within the financial
sector
Outline of the Research Methodology
Bartram et al. (2015) have taken the help of secondary data collection method in order to
collect the required information needed for the completion of the article. For example, the
different industry reports, peer-reviewed articles, newspaper articles and others were consulted
for the collection of information. More importantly, the process of thematic analysis or
qualitative data analysis method was followed for the analysis of the secondary information.
Discussion of the Findings
Bartram et al. (2015) on the basis of the analysis of the secondary data collected by them
found that “the industrial relations or the relation between the employers and the employees
within the financial sector had undergone a significant amount of change in synchronicity with
the changing job roles that the employees perform”. For example, unlike the earlier times the
employees in the present times have become an integral part of the different corporations
because of the different kinds of job roles that they perform. More importantly, over the years it
had been seen that the HR professionals have also played a key role in bringing about this
change in the behavior which is meted out to the employees. In this relation, mention needs to be
made of the different benefit plans, negotiations and others which are being undertaken by the
HR professionals for the empowerment of the employees within the corporations.

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Summary of the Conclusions
Bartram et al. (2015) have concluded the article by stating that the different policies or
the practices used by the HR professionals while empowering the employees have contributed
effectively towards the changing relations between the employers and the employees. This can
be attributed to the fact that the employees in the present times within the framework of the
different business corporations have become an integral part of the same because of the
diverging job roles that they perform.
Indication of how this will be relevant for your Essay 3
This article of Bartram et al. (2015) published in “Journal of Industrial Relations” will be
an important one from the context of Essay 3. For example, the article elucidates important
information regarding the relation which presently exists between the employers and the
employees in the different corporations related to the financial sector.

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Article 4
Full Reference
Talukder, A. K. M., Vickers, M., & Khan, A. (2018). Supervisor support and work-life balance:
Impacts on job performance in the Australian financial sector. Personnel Review, 47(3),
727-744. Retrieved from https://www.emerald.com/insight/content/doi/10.1108/PR-12-
2016-0314/full/html
Outline of Research Objectives and Research Questions
The research objectives used in this article are given below-
1. To understand the manner in which effective HR planning within the financial sector had
contributed towards employee well-being
2. To evaluate the impact of HR planning on the overall organizational performance of the
corporations related to the financial sector
3. To elucidate the manner in which the tool of HR planning can be used to help the
employees attain work-life balance
The research questions used in this article are given below-
1. How effective HR planning within the financial sector can contribute towards employee
well-being?
2. What is the impact of HR planning on the overall organizational performance of the
corporations related to the financial sector?
3. How the tool of HR planning can be used to help the employees attain work-life balance?

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Outline of the Research Methodology
Talukder, Vickers and Khan (2018) collected primary data through the usage of the tool
of survey from around 305 HR professionals related to the different financial corporations of the
nation of Australia. Furthermore, for the analysis of this information collected through the
process of survey the scholars took the help of the quantitative data analysis method.
Discussion of the Findings
Talukder, Vickers and Khan (2018) through the analysis of the primary data that they
collected for the completion of the article found that “the effective usage of the construct of HR
planning serves dual purpose within the framework of the business corporations related to the
financial sector of Australia”. On the one hand, the usage of this tool helps the HR professionals
to meet the labor demands of the corporations and on the other hand helps them to promote the
effective utilization of the human resources of the same. For example, by helping the
corporations to get the required number of workers, the HR professionals play a pivotal role in
reducing the work stress faced by the workers. This in turn helps them to enhance the level of
their well-being, promotes effective work-life balance and thereby improves the job performance
of the workers as well.
Summary of the Conclusions
Talukder, Vickers and Khan (2018) concludes the article by stating that the process of
HR planning is an integral job role of the HR professionals within the framework of the different
business corporations of the nation of Australia. For example, the effective usage of the process
of HR planning helps the HR professionals to effectively resolve the labor issues faced by them
and also to enhance the well-being as well as the job productivity of the workers as well.