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The Lloyds TSB is one among the top banks in United Kingdom. It claims a rich heritage since 1765 when it was started as a private bank named bank of Taylors and Lloyds. It had its administrative centre in Birmingham and functioned in that same office for a century till the year 1865. Then it changed its focus to London by 1880. By the early years of the 20th century they expanded internationally to places like the whole continent of Europe, India and South America. By the year of 1810, it started its savings bank business with the aim of helping poor people. The major mergence of Lloyds was with the TSB in the year of 1995 and thus the Lloyds TSB is formed. Later in the year 2000, they acquired the Scottish widows. They operate under diverse brands in different areas. The Lloyds TSB Plc has been having a major share in England where as the Halifax while in Scotland the major brands under which they act are Wales and Bank of Scotland. They claim to provide the best and efficient service through their shared services as they cut down their cost. Now their employee strength reaches around 70000 employees.
In this context, as an HR manager of the company the main functional areas include recruitment, selection and retention. In easy words it is just like the procedure of finding and appointing new staff. The Lloyds TSB group Plc has recruited vast number of employees and still in search of skilled employees till date. We mainly advertise through our online site.
The recruitment process of the Lloyds TSB Plc is well planned and organised one. The vacancies are announced through the online website of the Lloyds TSB Plc. The jobs are categorised according to the designations and also according to the brands one wants to work. The data is given in a very structured manner quoting the type of job like full time or part time, number of hours, salary and so on with the job description and also the qualities, qualifications and skills needed in the expected person. Those candidates who feel like they fill the requirements of the Lloyds TSB Plc can apply by sending a CV along with a cover letter and they will receive a notification if the Lloyds TSB Plc get their application.
The procedure of selection in the Lloyds TSB Plc is a well designed process with structured events. After receiving a application it needs to be analysed and verified, after this process been over the selected candidates are been called from the HR Department. A written test will be there and those who pass in that will be taken for a pre planned personal interview which has three parts. A interview will be conducted by three HR personnel of the Lloyds TSB Plc and the candidates will individually get their turn accordingly and the interviewers will select those who are best and whom they feel will contribute to the accomplishment of objectives of the Lloyds TSB Plc.
The Lloyds TSB Plc has a very good retention rate in UK banking industry. They care a lot for their employees because they know the employees are the keystones of their success. The Lloyds TSB Plc follows an exceptional reward package scheme. It is not just a salary, but sometimes more than that like small holidays, increments, prizes and so on. If any of the employee proves to be highly skilled and talented its sure that he will surely reach up tp larger heights ie; in terms of promotions and all. Thus employees work with full of interest and concern.
The objectives of the functional areas
To fill the vacant areas and positions of the Lloyds TSB Plc with the right kind of person.
To make it sure that the individual whomever applies for the job is apt for it.
Any wastage of money and material should be avoided as there is a proper job description
Filling up the Lloyds TSB Plc with new employees with new skills.
To get the correct staff which the Lloyds TSB Plc needs
To be safer in the struggle of the market with modernized skills
Filtration of abilities and skills
To maintain a positive staff turnover ratio
To retain the staffs who are more of gualitative kind.
To motivate the employees and make them more resultful.
The human resource management models
The human resources are unavoidable part of an organisation. A lot of skills and personnel is needed in a UK Banking Industry to fulfil the needs of the customers, the Lloyds TSB Plc has to follow a good HRM model. There are mainly two HRM models. A combination of two models can bring about successful management of human resources. The two basic models of the HRM are Harvard model and the Michigan model.
The Harvard model of the HRM: the Harvard model is the commonest model followed in the management of human resources. It focuses on the soft side of the management. The human character and values are taken into consideration. The main concentration is on the employee motivation, participating them in the administration, aids them in working in team and maintains a good working atmosphere in the Lloyds TSB Plc. The Lloyds TSB Plc focuses on the factors like:
Human flow: this refers to the flow of people related to the Lloyds TSB Plc. This can be either the flow of staff to the Lloyds TSB Plc or through the organisation or the flow from the Lloyds TSB Plc.
Reward system: the Lloyds TSB Plc follows a better reward system in order to keep the human flow in a positive way. The rewards are helpful in keeping the employees of the Lloyds TSB Plc in a fruitful and innovative manner
Work system: the management of the work system is very influential. Because it has both positive and negative effect on the employees and may affect the outcome of the activity. Thus affects the objectives of the Lloyds TSB Plc
The Michigan model of HRM: The Michigan model of the human resource management is a bit harder one. According to this the human resources should be dealt like any other resources used for the goals to be achieved. Their main objectives are to obtain the human resource cheaply, use them according to the need, build up and utilize to maximum extend.
Human resource planning and development
The human resource planning and development is very much important in the forecasting of the companyâ€™s success as it gives a complete analysis of the skills the Lloyds TSB Plc have. The human resource planning and developing is a process of analysing the skills and qualities of the employees and evaluating them, making plans to develop them to achieve the goals of the Lloyds TSB Plc. In this phase, the human resource department tries to improve the skills or change the problems faced by an employee. This process helps them to attain more knowledge in the fields they need to have and thus become more productive and creative. The human resource planning and development is must if the organisation is going to start a new project. It helps the Lloyds TSB Plc to identify the present status of employees suitable for the new job and to plan about the workforce required and how to acquire that number. Sometimes the Lloyds TSB Plc transfers the current employees to the new position with a new job description or at times recruits few new employees and assign them along with the old experienced employees or sometimes recruit the whole work force from outside and put an experienced expert of the Lloyds TSB Plc to lead them. At this time the reward package system may help as it motivates all the employees. The Lloyds TSB Plc has different methods of human resource planning and development for developing the skills of the employees. They are as follows:
Career planning and development: the employees always want build up a better career and maintain a good career history. The career planning and development followed by the Lloyds TSB Plc helps the employees in achieving this. It helps in the personal development. The skills and performance of the employee is analysed and training is given to them if needed accordingly. Thus the employee can develop personally and in career. This helps in the mobility of the employee in the Lloyds TSB Plc both internally and externally. The transfer from one branch to another branch or from one department to another department or from one country to another country is a best example for the internal mobility. The external mobility refers to the migration of the employee from the Lloyds TSB Plc to another organisation. This is not a positive outcome as the Lloyds TSB Plc has spend a lot in the training and development of the employee with the aim of using their skills in the Lloyds TSB Plc for achieving their goals and objectives.
Workforce analysis and management: for a new project the human resources needed are identified and finalised. Their job description is made and compared with the business plan of the Lloyds TSB Plc. The next step is the work force analysis in which the inventory of the present work force is taken and is compared with the required one. Further adjustments are made and plan accordingly. Then the Lloyds TSB Plc redefines the job description. Then they plan how to implement these changes and how to prepare the human resource for this change. Then the human resource is acquired and made into a team. If any training for the development is needed, it is given.
It is very necessary to measure and monitor the performance of employees of an organisation. The Lloyds TSB Plc also maintains some methods to do this. There are mainly two methods the Lloyds TSB Plc follow. They are the job analysis and the performance appraisal. These two are essentials to the success of the organisation and needed in attaining the goals and objectives of the Lloyds TSB Plc.
Performance appraisal: the term performance appraisal indicates to the total assessment of the individual by the personnel appointed by the Lloyds TSB Plc mainly manager or the supervisor or anyone else. Even the customer can be used for the employeeâ€™s performance appraisal as they are coming in contact with him as in the 360 degree performance appraisal. After the analysis, proper training is given if any further development is needed. The main aims of the performance appraisal is to identify the skills of the employees, analyse the training needs of the employees and make sufficient change in the selection procedure of the Lloyds TSB Plc and the training process. It also helps in diagnosing the organisation, the path of implementation and predicts the future. Thus the Lloyds TSB Plc can replan the strategies if needed and correct the mistakes. There are different types of the performance appraisal that are followed in the current organisation set up. Some of them are formal interview for annual performance appraisal, informal interview which is an individual one, probationary review for the performance appraisal of the training period which helps to identify whether to offer the same job or a better or low one in the Lloyds TSB Plc as it will evaluate the personâ€™s performance in the whole probationary period in the Lloyds TSB Plc, counselling meetings for the individualâ€™s who need advices or clarification of personal dilemmas or those related with the job as they can affect the performance of the individual. For doing any performance appraisal a series of steps should be followed. At first the candidate should be prepared and also the evaluator should get ready mentally with framing all the points and questions needed to be covered. Then inform the candidate or the employee to be interviewed. Fix the date and venue in the Lloyds TSB Plc. Inform them the timing as well. Introduce before you start and say the procedure. Next comes the chance for an open discussion between the evaluator of the Lloyds TSB Plc and the employee. After discussion the employee is evaluated and feedback is given. A new suggestion for change and objective is given which is agreed by both and they are recorded properly. The agreement is signed between the employee and the evaluator on behalf of the Lloyds TSB Plc, the performance appraisal interview is always closed or ended with a positive reinforcement. The performance appraisal can be done in many ways. The most effective and the most recommended method of appraisal which the Lloyds TSB Plc follows is self appraisal. The Lloyds TSB Plc trains and motivates each and every employee to do this as it will improve them personally and benefit the organisation as well. The employees can think about them, their skills, goals, whether they are achieved or not. Thus they can find where they are in a scale and take adequate measures to correct themselves and thus becomes more productive. The second method is 360 degree appraisal. In this method of appraisal, any individual in the Lloyds TSB Plc or anyone from outside who is assigned by the Lloyds TSB Plc evaluates you and presents the reports. It can either be your head of the department to your colleagues or your subordinates. Sometimes more than one person can also evaluate you and your performance. The identity of the evaluator is not disclosed as it may bring about some enmity in the future. This character helps in improving the essence of the report as the people are free to tell the truth. The disadvantage is that people can use this as a tool for taking revenge or advantage.
The job analysis: it is a process of analysing a particular job, whether a person suits to be in that job and meets the requirement of the Lloyds TSB Plc. It helps in maintaining a job hierarchy as each employee knows the top and bottom designations of the chain. It helps in fixing the salary or the pay of a job. It helps in setting up the required qualifications, skills and experience needed for a particular job. It also helps the Lloyds TSB Plc in the recruitment and selection and helps in retention of the effective employees who are skilful, loyal and hardworking. Its main objective is to endorse human engineering and to identify and arrange the facilities needed for the employees. There are many ways to do job analysis. The methods which the Lloyds TSB Plc follows are observation method and interview like individual interview method and group interview method. In the observation method the personnel designated for this by the Lloyds TSB Plc closely watches the employee. He or she can be observed when he or she is alone or in a group. The person may or may not know that he is observed. If the person knows that he is observed, it may produce discomfort in the individual and may result in the inaccuracy of the test result. So it is better to observe without letting him know that they are observed. The second method that the Lloyds TSB Plc follows is the individual interview method. In this the manager or the assigned human resource personnel conducts interview with the employee individually. It will be a sort of discussion about the job and their achievements in a positive way. The employee is directed to talk more and the evaluator grasps information from them and a positive reinforcement is given after the discussion. This is used very less though it is a very good method. This is because of the vast time needed for the assessment of each employee. It is not practical in the Lloyds TSB Plc as they have 70000 employees at present. The group interview method is yet another method of job analysis followed by the Lloyds TSB Plc in order to measure and monitor the performance of the employees who are a part of the Lloyds TSB Plc currently. This is done after prior notice. A particular date and time are selected and the employees are divided into different groups. They are informed priorly about this. In the place arranged, the employees come as a group. The evaluator starts the discussion and guides the further discussion and listens to every employee. The evaluator makes sure that the discussion does not go in a wrong direction and every individual is participating. This is a practical method of job analysis. It gives plenty of information. The accuracy cannot be determined as the evaluation on individual basis cannot be taken.
The effectiveness of these methods is at optimum if you check the performance level of the employees of the Lloyds TSB Plc. This has been clearly visible in the graph of the employees performance. It has been in a constant increase from the past few years and is expected to increase further in the coming years. This is because of the human resource planning and development of the Lloyds TSB Plc. They do the performance appraisal of every employee and give correct feedback to the employee about what they have found out. Then they give a positive plan to correct the mistakes and advice them to undergo any training if necessary. An individual meeting is conducted in which they share their personal ideas and views and proper plan of change is made in the end and agreed. Thus it proves to be successful till date. For example, if a customer care assistant has been reported as behaving rudely to the customers, he can be called in asked for a reason. Check his work history and analyse and identify the reason. Have a talk with him individually and find out whether he needs any training or is he eligible to be in that post. If training is needed, arrange for that and continue observing him for preventing further such experience. From all these things, as an HR manager of the Lloyds TSB Plc I can clearly say that there is no need for change of the present policies followed by the HR department of the Lloyds TSB Plc. All we have to do is try to use the techniques fully and in better was to its full extend.