Analysis of Human Resource Management at Westpac Banking Corporation

This report provides an analysis of the Human Resource Management (HRM) practices within Westpac Banking Corporation, an Australian financial institution. The report examines the importance of organizational structure in managing business methodologies, particularly focusing on Westpac's talent acquisition and employee retention strategies. It highlights Westpac's strategic approach to workforce planning, aligning it with their business objectives. The report details the role of HR managers in ensuring effective talent acquisition and maintaining HRM standards. It discusses the company's recruitment processes, including the use of job descriptions, behavioral interview questions, and assessments. The report concludes by emphasizing the significance of these practices in contributing to the company's market performance and sustained growth. The report also references key academic sources to support its findings.

Human Resource Management

The business structure or the organizational structure is one of the important components for
any kind of business entity. It is because it regulates the whole business and manages each of
the work methodologies happening within the structure. It can be noted that Westpac Banking
Corporation is one of the largest banking entities located in Australia and they have been
operating in the market for the last 200 years. It can be observed that the recruitment and
retaining of the employees have been one of the chief functions of the Westpac Banking
Corporation. In addition, the key responsibility of the managers has been to ensure the
functionaries of the talent hunt procedures and thus stabilizing the Human Resource
Management practice standards at the same time frame (Agrawal 2017).
In recent years, it can be noted that Westpac Banking Corporation has strengthened its
business strategies and the managers have adopted the policies in taking the right decisions
for further development of the organization. The organization, within the time span, the
management board of the Westpac Banking Corporation has also established diverse
divisions, which includes the business bank, Institutional Bank, BT Financial Group and also
the Westpac New Zealand. They have also planned to expand their company in different
countries across the world (Nankervis et al. 2016).
It is understood that the Human resource management practices are much important for
developing the organizational work methodologies and thus increasing the performance
within the restricted time scale. Due to the particular matter, the Westpac Banking
Corporation has established the Westpac hire Talent Acquisition mentors who have been
given the responsibility in monitoring the recruitment procedures (Al Jerjawi 2015).
In case of the talent hunt procedures of the specialists, it can be observed that they have first
organized for a pool of talent in the first stage. These have been done according to the vacant
seats of the employees in the Westpac Banking Corporation. In the first stage, after the
selection of the pool of talents, the mentors have first started the campaign with the help of
job description and their responsibilities, which they have to accomplish for performing
better in the training period. Promotions are also have been accomplished for the diverse job
postings and the talented individuals are asked with behavioural questions in the interview
sessions for checking their patience and smartness. Thus, after going through some of the
important rounds like EQ, IQ and the interview test, the final decisions are made by the
management specialists (Davis et al. 2016).

Thus, it can be concluded that the business entity has been performing in the market for many
years and they have also improved their talent acquisition programs at the same time frame.
On the other hand, it can be understood that the talent acquisition program is one of the
important components in the management recruitment system and it also involves several
steps, which are described in the study.

References
Agrawal, A., 2017, March. HRM Effectiveness through E-HRM. In National Conference on
"Contemporary Issues in Management & Entrepreneurship" 04th March 2017 Jointly
organized by The Confederation of Indian Industry (CII).
Al Jerjawi, K., 2015. The role of human resource executives in mergers: a comparative case
study of two bank mergers, the merger of Westpac Corporation and St. George Bank
(Australia) and the merger of Emirates Bank International and the National Bank of Dubai
(UAE).
Davis, P.J., Frolova, Y. and Callahan, W., 2016. Workplace diversity management in
Australia: what do managers think and what are organisations doing?. Equality, Diversity and
Inclusion: An International Journal, 35(2), pp.81-98.
Nankervis, A.R., Baird, M., Coffey, J. and Shields, J., 2016. Human resource management:
strategy and practice. Cengage AU.