- Induction Training
- Job Specific Training
- Personal Development
HSBC use a performance management cycle when measuring the success of the process. This can be seen below:
January
October April
July
The cycle allows HSBC to divide the year in quarters and as a result the directors at the company get an accurate idea of the performance management process. The process is carried out by management who interview employees and see how they are meeting their personal objectives and how these objectives contribute to the overall company aims. This allows the company to look at how they can go about improving their employees’ performance and if they are meeting expectations.
The link between Training and Development and Performance Management
For the training and development to be successful, performance management is needed to help each factor work effectively. Performance management enables employees to set individual objectives and the training and development aids them in meeting each one. This process is ongoing and HSBC has three stages of training and development that each employee must carry out. These three stages link to the training and development and performance of employees in the following ways:
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Induction Training – these needs are recognised and then and planned out using performance management.
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Job Specific Training – here the needs are also recognised and planned using performance management. After employees complete the training efficiency, accuracy and quality are analysed through performance management.
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Personal Development – needs are identified and planned through performance management. There are various types of training an employee can use to develop himself/herself. Each employee recognises his or her individual training needs through performance management. After doing the training they feel it has not been effective then other methods of training will be looked at.
The initial step of the training programme needs to be analysed. Here performance management is essential because management need to recognise the needs and requirements of the employee. This is a further example of the link between performance management and training and development.
The next step is design. This involves discussion on the type of training that will be applied to the employee. The third and fourth stages of the cycle are Delivery and Evaluation and bring the process to an end.
It is essential that training and development and performance management link and I think if they did not HSBC would not be as successful as they are currently. There is heavy emphasis on each of the two processes and no margin for error. Both of the processes have to compliment each other to ensure that HSBC runs efficiently. This will aid employees to meet individual objectives and see that HSBC meet overall company aims.
Training and Development and Performance Management influence by various Motivational Theories
To have well trained staff ensures that all operations at HSBC run efficiently. Well-trained staff have confidence in the work that they do and are likely to be more motivated and in turn productivity will be increased. the employees will also feel more secure in their jobs as they will feel that their contribution to the firm is valuable. Maslow’s theory includes similar ideas.
The Human Relations model is a major influence on the link between training and development and performance management at HSBC. As we know HSBC use CLICK culture which further links to this model. If employees feel that they are needed and are given responsibility they are likely to be more productive as they feel more valued. This is one of the key factors that contribute to HSBC’s success. If employees are happy and motivated staff turnover and absenteeism is likely to be low. The working environment also contributes to motivating employees at HSBC, as it is clean, modern and welcoming.
HSBC have adopted the Human Relations model and Maslow’s Hierarchy of Needs to aid them in motivating their employees. This is evident when looking at schemes such as CLICK and how they meet their objectives.
F.W. Taylor’s scientific approach also has links with the training and development and performance management at HSBC. This is in the way that employees are financially rewarded if they meet their objectives. By adopting this scientific approach and linking it with such theories as the Human Relations Model and the Hierarchy of Needs HSBC are very successful in motivating their employees. Also this is backed up by McGregor’s and Hertzberg’s theory. McGregor’s Y side and X side theory are both adopted by HSBC. The X side is the bonuses and pay that is given and the Y is the comfortable working environment they provide. Hertzberg’s theory is adopted in the way that HSBC offer rewards to hard working employees.
