Evaluation of Human Resource Management in the Banking Industry
Evaluation of Human Resource Management in the Banking Industry
Human resource management (HRM or HR) is that the strategic approach to the effective management of individuals in a company or organization specified they assist their business gain a competitive advantage. it's designed to maximise worker performance in commission of associate employer's strategic objectives (Johnason , 2009).
Human resource management (HRM or HR) is that the strategic approach to the effective management of individuals in a company or organization specified they assist their business gain a competitive advantage. it's designed to maximise worker performance in commission of associate employer's strategic objectives (Johnason , 2009).
HR responsibilities
According to HR Assistant Job Description and Salary, 2018: The duties include planning, recruitment, and selection process, posting job ads, evaluating the performance of employees, organizing resumes and job applications, scheduling interviews and assisting within the process and ensuring background checks. Another job is payroll and benefits administration which deals with ensuring vacation and sick time are accounted for, reviewing payroll, and participating in benefits tasks, like claim resolutions, reconciling benefit statements, and approving invoices for payment.
According to Mathis and Jackson (2003) a human resources manager has several functions during a company Determine needs of the staff. Determine to use temporary staff or hire employees to fill these needs. Recruit and train the simplest employees. Supervise the work. Manage employee relations, unions and negotiation. Prepare employee records and private policies. Ensure high performance. Manage employee payroll, benefits and compensation. Ensure equal opportunities. Deal with discrimination. Deal with performance issues. Ensure that human resources practices conform to varied regulations. Push the employees' motivation. Mediate disputes internally. Upgrade learning knowledge of employees Disseminate information within the organization so on benefit its growth.
Evolution of Strategic Human Resource Management
Personal Management (PM)
Human Resource Management (HRM)
Strategic Human Resource Management (SHRM)
Personal Management (PM)
Human Resource Management (HRM)
Strategic Human Resource Management (SHRM)
According to (SCRIBD, 2017) Personnel management is obtaining, using and maintaining a satisfied workforce. It is mainly concerned about employees at work and their relationship within the organization. This is the administrative process which includes hiring, orienting, salaries and addressing complaints and needs. It is human oriented, it helps the workers to develop their potential to their fullest. One of the motivational factors is incentive plans. Personnel management emphasizes on action rather than making prolonged schedules, plans, work methods. The work place issues can be solved more effectively and smoothly.
Human resource management
According to (SCRIBD, 2017) The process of hiring and developing employees focusing on policies and systems. This includes the basic functions of Personnel Management plus extensive knowledge of the industry, leadership, and effective negotiation skills. Conducting job analysis, planning personnel needs, recruiting the right people for the job, orienting and training, managing wages and salaries, providing benefits and incentives, evaluating performance, resolving disputes, and communicating with all employees in all levels. The concentration is on maximizing employee productivity by managing human capital of an organization and focus on implementing policies and procedures. HRM treats employees as a resource much like a machine/ cash or rather considers employees as the asset to the organization. HR professionals ensure that employees are trained to have a continuous development. This is done through training programs, performance evaluations and reward programs.
According to (SCRIBD, 2017) The process of hiring and developing employees focusing on policies and systems. This includes the basic functions of Personnel Management plus extensive knowledge of the industry, leadership, and effective negotiation skills. Conducting job analysis, planning personnel needs, recruiting the right people for the job, orienting and training, managing wages and salaries, providing benefits and incentives, evaluating performance, resolving disputes, and communicating with all employees in all levels. The concentration is on maximizing employee productivity by managing human capital of an organization and focus on implementing policies and procedures. HRM treats employees as a resource much like a machine/ cash or rather considers employees as the asset to the organization. HR professionals ensure that employees are trained to have a continuous development. This is done through training programs, performance evaluations and reward programs.
Strategic Human Resource Management
According to (SCRIBD, 2017) Proactive management of the employees of a company or organization. Strategic human resource management includes the basic HR functions and also involves working with employees in a corporative method for staff retention, improve the work quality and maximize the mutual benefit of employment for both the employee and the employer. With the evolution of HR practices strategy and human resource management systems are becoming significant factors for the organizations.
According to (SCRIBD, 2017) Proactive management of the employees of a company or organization. Strategic human resource management includes the basic HR functions and also involves working with employees in a corporative method for staff retention, improve the work quality and maximize the mutual benefit of employment for both the employee and the employer. With the evolution of HR practices strategy and human resource management systems are becoming significant factors for the organizations.
According to (SCRIBD, 2017) The amalgamation of strategy and HRM systems directed to the rise of strategic human resource management (SHRM), which is a broader concept. PM, HRM and SHRM are not different concepts from each other but more of a developed concept of each step. Ultimately it is understood that only n SHRM people are considered as a strategic resource, that is to be used for creating and sustaining competitive advantage for the organization.
Importance of SHRM
Banking Industry I work, which invest in their human resources have a very high possibility of achieving organizational goals and succeeding in the industry. They perceive their workers as the heart of their business. The development of the technology is used the betterment of the company as well as for the comforts of the employees. In addition, they have selected set of practices and innovative procedures which are designed to develop, expand and connect employees with professional skills and knowledge in order to achieve business priorities. Human resource in any organization means the functions in the implementation of its strategies of recruiting, selecting, training and rewarding personnel to increase the capacity of a business.
Banking Industry I work, which invest in their human resources have a very high possibility of achieving organizational goals and succeeding in the industry. They perceive their workers as the heart of their business. The development of the technology is used the betterment of the company as well as for the comforts of the employees. In addition, they have selected set of practices and innovative procedures which are designed to develop, expand and connect employees with professional skills and knowledge in order to achieve business priorities. Human resource in any organization means the functions in the implementation of its strategies of recruiting, selecting, training and rewarding personnel to increase the capacity of a business.
According to (UKESSAYS, 2017) SHRM helps the organization in achieving its objectives by;
1. Training the managers to effectively handle subordinates
2. Creating awareness regarding the importance of various means of effective
communication
3. Planning an efficient and fair rewarding system to keep up the motivational levels of the
employees
4. Taking actions to eliminate absenteeism and high turnover
5. Aligning employee goals with the organization
6. Quantifying the contribution of employee costs to the total costs of the organization and
taking steps to optimize them
7. Proactively identify the strategic needs of the organization
2. Creating awareness regarding the importance of various means of effective
communication
3. Planning an efficient and fair rewarding system to keep up the motivational levels of the
employees
4. Taking actions to eliminate absenteeism and high turnover
5. Aligning employee goals with the organization
6. Quantifying the contribution of employee costs to the total costs of the organization and
taking steps to optimize them
7. Proactively identify the strategic needs of the organization
Conclusion
Strategic Human Resources Management plays a major role in managing the workforce and improving their productivity. Various activities of SHRM motivate employees and indicate the succession path. It is admitted that it is not possible to achieve organizational goals without the contribution of human resource. SHRM facilitates the use of human resources.
Strategic Human Resources Management plays a major role in managing the workforce and improving their productivity. Various activities of SHRM motivate employees and indicate the succession path. It is admitted that it is not possible to achieve organizational goals without the contribution of human resource. SHRM facilitates the use of human resources.
List of Referances
Collings, D. G., & Wood, G. (2009). Human resource management: A critical approach. In D. G. Colligs & G. Wood (Eds.), Human resource management: A critical approach (pp. 1-16). London: Routledge.
'HR Assistant Job Description and Salary" www.humanresourcesedu.org Retrieved 2018-03-30.
Johnason, P. (2009). HRM in changing organizational contexts. In D. G.Collings & G. Wood (Eds.), Human resource management: A critical approach (pp. 19-37). London: Routledge.
SCRIBD, 2017. Historical Evolution of Strategic Human Resource Management.[Online] Available at: https://www.scribd.com/document/51465249/HISTORICAL-EVOLUTION-OF-STRATEGIC-HUMAN-RESOURCE-MANAGEMEN1.[Accessed 28-11-2017]
UKESSAYS, 2017. The evolution of Strategic Human Resource Management. [Online] Available at: https://www.ukessays.com/essays/business/strategic-human-resource-management-evolved-business-essay.php. [Accessed 28-11-2017]
Collings, D. G., & Wood, G. (2009). Human resource management: A critical approach. In D. G. Colligs & G. Wood (Eds.), Human resource management: A critical approach (pp. 1-16). London: Routledge.
'HR Assistant Job Description and Salary" www.humanresourcesedu.org Retrieved 2018-03-30.
Johnason, P. (2009). HRM in changing organizational contexts. In D. G.Collings & G. Wood (Eds.), Human resource management: A critical approach (pp. 19-37). London: Routledge.
SCRIBD, 2017. Historical Evolution of Strategic Human Resource Management.[Online] Available at: https://www.scribd.com/document/51465249/HISTORICAL-EVOLUTION-OF-STRATEGIC-HUMAN-RESOURCE-MANAGEMEN1.[Accessed 28-11-2017]
UKESSAYS, 2017. The evolution of Strategic Human Resource Management. [Online] Available at: https://www.ukessays.com/essays/business/strategic-human-resource-management-evolved-business-essay.php. [Accessed 28-11-2017]
Comments
Post a Comment