Human Resource Management At HSBC Bank
Disclaimer: This work has been submitted by a student. This is not an example of the work written by our professional academic writers. You can view samples of our professional work here.
Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UK Essays.
Published: Mon, 5 Dec 2016
Human Resource M management is defined as the organizational function that deals with the issues in the organization which is either related to employee or the management such as compensation, hiring, performance management, organization development, safety, wellness benefits, employee motivation, communication administration and training. Human resource management is the function with the organization that focused mainly on three things they are recruitment, managementand providing directions for the organization.
HONG KONG SHANGHAI BANKING CORPORATION (HSBC)
HSBC holdings a British financial holding company with organs in Honking and shanghai opened in 1865 .the company shifted its headquarters from Hong Kong to United Kingdom in 2003. The bank has got intense competition all over Asia .the Company is doing well in business for the past 3 years and attained a huge rise in revenue. The financial performance of the company indicates that the company is achieving its goals and willing to offer better service and products to the customers,
Companies approach to Human Resource Management:-
HSBC, with current employee strength of 26000 employs and managers different kind of people all around the world. By doing so the company maintains a balanced and well rounded employment status. This gives the company advantage to face all kinds of situations an issues .HSBC bank gives foremost priority to its employees and make certain their rights are preserved. Taking proper approach to HRM the company will soon be best in personnel among the competitors.
FUNCTIONAL AREAS OF HUMAN RESOURCE IN HSBC BANK:-
The main functional areas or activities of human resource in HSBC bank are as follows:-
Appropriate selection and identification of over all skills profile
Investment in training and development
Motivation and appraisal
For implanting a resource strategy we must be translate the strategy in to practical action. For that planning is an impotent criteria that to be organized logically.
Selection is the process of collecting and evaluating information about an individual in order to extend an offer of employment. Such employment could be either a first position for a new employee or a differ high ranking position for a current employee according to his knowledge and experience. The selection process is being done under normal legal and environmental constraints. In today’s competitive business environment, managers are keenly looking forward to increasing the performance of their employees. Increasing the performance will automatically increase the competitive advantage of other firms. The appropriate selection of the employee is very important in an organization especially in a bank. Because eon and organization like bank the main and the important element is customers so without customers faith the cannot exist so we need to select the correct and the apt employee for the respective position and need to give train nag to improve their skills. If the selection of the employee is good and the employee is apt for the position the employee as well as the company can come up with good ideas and schemes through which they can attract more customers their by they can extend the name of the organization to a better level. So in order to increase the performance of the employee many methods will introduce like customer service, employee involvement programmed and other methods like design of particular jobs which will enhance the relationship between the manager and employee in which employee can involve much and can put forward their abilities for all these criteria’s need to select a proper employee, for that selection is the first and the foremost thing in the selection of the appropriate employee .The important of selection is very important in the growth of the organization. It is also the basis for the development of programmed that increase the productivity of the employee, if the employee doesn’t have the appropriate talents for the job to which they are assigned, programmes to
Improve will be unsuccessful. There are different steps involved in the selection process of HSBC.they are stated below:-
Finding the need of manpower in the company and advertising for the position in media, journals and newspapers.
Human resource department of the bank should be responsible for mentioning the skills and knowledge required for the post.
Giving an interview call is also human resourse departments responsibility after monitoring the application received and sort the apt candidate who posses all the skills and qualification required for the job
Interview is conducted in four steps, A test will be conducted to all selected candidates to check the technical knowledge about the work they are going to perform, then a HR interview will be conducted to know more about the candidate and check whether the candidate is apt to the organization, then a group discussion will be there to check the behavior and commanding skill of the candidate, a final round interview will be conducted by the head of al the departments regarding the functions he is going to perform in the bank.
INVESTMENT IN TRAINING AND DEVELOPMENT:-
Training and development has traditionally been a functional division of the personnel or human resource department concerned with carrying out the identification of training and developmental needs. Planning and designing training. Implementing it and finally evaluating it. Training and development is to be regarded as the strategically activity the purpose of training and development includes. To improve the present and future well being of the organization. What oppurtunities are afforded by the environment, what are the strength and weakness of the organization, analysis of current skill levels available within and external to the organization? Thus we can give the employee training in order to increase the capability and ability of the employee and thus their by we can improve the over all change in the organ insertion and their by develops the employee to come up with new ideas which helps in promoting the company to a higher level. When cross checked with the training and development programmes at HSBC bank they conduct regular development programs to their employees to make them expose to the current economical status and improving the skills of the employees to face the challenge. The training of HSBC mainly concentrated on some special criteria’s like to concentrate on the performance improvement, communication, computer development skills, customer service, diversity, ethics, human relations, quality improvement and safety. In this the important thing is customer service the main element of an organization is customer so and employer should be more oriented on the customers have to respect them their needs and queries so its very important for the employer to keep good training and their by the management can increase the good will of the organization
Motivation and appraisal:-
As employee is the back bone of the organization the company should always make sure about the commitment of the employee. motivation and appraisal will decrease the gap between the employee and the managemet.reward programmes will increase the confidence of the employee and make them more committed towards the organization .the managers can yield more productive and creative results by motivating their employee by offering financial enrichment ,incentives the company can motivate the employee for achieving its goals ,the managers can also motivate the employee by removing organizational barriers by giving their employees respected loyalty.HSBC bank rewards the employee with reward points ,incentives or gift to motivate the employee to achieve more goals. The bank will give warnings and try to improve the performance of those employees whose performance is bad to avoid quick terminations.
HUMAN RESOURCE MANAGEMENT MODELS:-
Two models of HRM are defined by store (1989) as Hard and Soft model. Hard model insist on meeting the requirement with work force .soft model is considered as more employee oriented and give room to the employee to grow within the organization.HSBC bank implements both models of HRM and varies with the situation.
Hard model also referred as matching model or best fit approach is a method of extracting the maximum potentials from the employee for the benefit of the company. Here the employees are considered as a tool of the organization to achieve its goals.HSBC bank doesn’t use hard model often but their cashing sections were the functions are a routine.
Soft model gives foremost consideration to the employee and will try to develop the skills of the employee for the betterment of the organization. here the employee is motivated to achieve the goals of the organization .soft model is very relevant in the industries which requires innovative and creative works.HSBC mainly follows this model of HRM as it considers for its employees and preserve their rights to make them grow with the company and intact increases the productivity of the organization.
HUMAN RESOURSE PLANNING AND DEVELOPMENT METHODS:-
Human resource planning and development is always important for the effective run of the organidsation.the forecast of human resource department always play a major role in planning and development. The different planning and development methods of human resource are stated below:-
Workforce planning is important in an organization as indicates the need of staffs required for a particular task. Human resource department can prepare a chart indicating the time when the work should be finished and the amount of manpower required for the task .finding out who is the right person for the task will increase the productivity of the organization.
TRAINING AND DEVELOPMENT:-
An employee’s performance can be affected by various reasons such as personal and physical issues. So rejuvenating them by giving development programmes can increase their efficiency. frequent training programmes should be conducted for the employees to make their work interesting or easy to them.HSBC bank have frequent development programmes to improve the performance of the employees rather than terminating them on their beginning stage due to poor performance. As the company relies on soft model of harm, it tries to develop the skills of current employees to deliver a better service to their clients.
RECRUITING LONG TERM EMPLOYEES:-
A company or organiosation always invest more on their recruitment and training programmes.so if the company can recruit employees for a longer term or sustaining the current employees can decrease their expense on this. Experience always reflect in the performance of the company.HSBC recruit new employees for a long term so that the employee get skilled and experienced with the organization and can deliver a better performance to achieve the goals .the human resource team should monitor the status of the employee and should give proper guidance if the employee is facing any problem rather than making the employee leave the job. Human resource department should make sure that the newly recruitment employees are looking for a stable position in the firm.
OBJECTIVES OF TRAINING AND DEVELOPMENT:-
Aims and objectives are much important when it deals with the training and development as it increases the efficiency of the employee. Objectives are an important tool to analyses the improvement, development of the employee and can evaluate their performance. Objectives can be attained by both the company and the staff when it goes through the development programmes.implemention of these objectives will give the organization new strategy and an improved result. The main objectives are stated below:-
Individual objectives visions for the improvement of skills of the employee. By training the employee regarding the new technological inventions and changes in the market will enable the company to expand its business. The employee by developing the skills and knowledge can easily achieve the tasks and will be beneficial to the organization.
HSBC bank conducts frequent development programmes to the staffs to make them more market oriented and to let them know bout the latest changes in technology.
Human resource plays a vital role in the efficient run of all departments as it recruits and trains the right employee for the position. Developing the knowledge about the department employee will have a clear idea about the department works and reporting person. The employee should be known with the risks involved in the department and the human resource should train them in such away that he can challenge all the risks and produce a better result for the department.
Benefit to the company:-
Companies become more beneficial if the employees are efficient. So by training them and developing their skills company can aim for bigger goals. Giving confidence to the employee and making the employee more committed to the organization, it can result in the performance of the company. Developing a healthy competence among the employees company can gain more benefits and can result in good performance.
Benefit to the society:-
The organization is not only responsible for making an employee a good performer but also to make him meet the demands of the environment. The environment around him will demand so much from the operation he is working with. the training should enable to meet all the challenges he is facing and should face the demands.HSBC bank train the employee in such away they he will follow all the ethical rules of the society and deliver service as the society demands.
EVALUATING THE PERFORMANCE OF THE EMPLOYEE:-
Performance evaluation is very important in the organization as it indicates how far the organization has achieved its target and how it should mentor the employee to challenge more tasks.HSBC bank is always keen on performance evaluation of the staff to deliver a better service to its clients. Performance evaluation will help in finding the employee needs and company can collect views from the employees and can act on to meet the necessary needs. It gives a feedback on employee’s performance. Evaluation will decrease the communication gap between the high level administration and staffs.organisation can allocate a reward programmed for the employees to enhance their performance. Performance evaluation widens the opportunity for the employee to develop and be more beneficiary to the company. Performance evaluation is a strategic canalization about the employees to improve their potential and making them beneficial for the company. There are several aspects that should be considered while evaluating the performance. Those aspects are stated below:-
The more an employee achieve companies target more the company will lend the support. Employee who cannot achieve the task will be considered as a burden for the company. So the organization will monitor every employee’s performance and will rate the employee according to the target he achieves.
Features of work:-
The company will measure the employee’s quality and quantity of work and will evaluate his performance accordingly. The organizations goodwill always depends on the quality work performed by the employee. So the company will be very keen on the way the employee does his work.
Consistency in the performance:-
Company will always consider consistency of the performance by the employee. A reliable employee is the one who always shows consistency in his performance.organisation can’t take decision on long term plans if it doesn’t find its staffs consistent.
Behavior of the employee:-
The company will be very keen on the organizational behavior of the employee. Company monitor how the employees attitude towards supervisors, managers and how employee cop up with his co worker. With his performance in achieving target company also looks forward for a good behavior within the organiosation.
Accepting company’s policy:-
Employees performance not only comprise on achieving targets but also on how the employee work adhering the companies policies. The company wants their employees to upheld companies policies in the work they do.
The company always looks for the employees who are cost efficient on completing their tasks. They prefer staffs that can control the expenditure of operations to achieve the target.
Feedback from colleague:-
The company will check the employee’s feedback from its colleague and that process is referred as 360 degree feedback. The organization will collect the feedback from co workers, managers and all those who are associated with the employee in work. These feedbacks will be considered while evaluating the performance of the employee.
HSBC bank evaluates the performance of the staff at consistent intervals to improve the performance of them. They also consider all these aspects while evaluating the employee. They also adopt some methods for evaluating the performance of the employee. Method is stated below:-
Challenging their employee
Always set challenges to employees and should measure how the employee is taking up the challenge. Bank monitor the quality of work and the time consumed to do the task.
Making Specification criteria:-
HSBC will evaluate the performance of the employee not only with the goals achieved but by recognizing what the employee is capable of .thee company measures the employee in all aspects and it will be specific with each employee and try to develop the skill and knowledge in what the employee is good at. By doing so HSBC gains specialist workers for each department.
Preparing Time period:-
HSBC sets a particular timeframe for all tasks and will monitor the staff .the company can attain high performance and save quality time which is very important for the company. Being time oriented the staffs knows the work and time period for finishing it.
Employee organization making the oriented:-
HSBC train their employee for not only attaining individual goals but also the organization goals. The employee won’t be concentrating on achieving his goals but will be keen on the organizations goal. By implementing this HSBC has tied up their employee with the company to review the target of company in the future.
As a very promising banking sector HSBC bank is finding its position among the top with branches extended to the places like asia-pacific, Europe, middle east, Africa and America…the proper implementation of human resource strategy has took the organization into a new level of customer banking.HSBC always made sure that the employees are very productive and innovative and are adherent to the bank policies. This helps the organization to achieve its goals in the long run. Hence in today’s competitive business world HSBC has achieved a major role in their customer’s satisfaction through achieving their major goals. in the starting of every business year they will come up with new schemes like investment banking, financial solution for corporates,trade service, corporate banking, payment and cash management which will always customer oriented and their by the HSBC bank can increase the trustworthy of the customers as well as other business entity.
Human Resource Management at Work by Mick marching ton 4 EDITION.
Management in a Business Context, 3rd edition by Alan Price
Cite This Work
To export a reference to this article please select a referencing stye below: