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This report is based on functions of the Human Resource department at HSBC Bank. The importance of the human resource function has grown rapidly over the last few years and this report looks at why.

Extracts from this document...

Introduction

Introduction This report is based on functions of the Human Resource department at HSBC Bank. The importance of the human resource function has grown rapidly over the last few years and this report looks at why. In this report there will be suggestions on how HSBC can improve its human resource department. HSBC Midland Bank is one of the major UK clearing banks; it became a member of HSBC in 1992 and is the HSBC Group flagship in the UK and the rest of Europe. The HSBC Group is one of the world's largest financial services organisation and HSBC Holdings plc, is one of the five largest companies in the UK. Through its global network, the group provides a whole range of financial services including: personal, corporate, investment and private banking; trade services; cash management; treasury and capital market services; insurance; consumer and business finance; pension and investment fund management; trustee services; and securities and custody services. The assets of the group at 30th June 1998 were valued at �290 billion. The group has a network of over 5,500 offices in 81 countries, employing 132,000 people. HSBC Midland employs 32,000 people approximately 70% of which work in its 1,740 branches across the UK. The bank has a personal customer base of five and a half million and business customers of over half a million. Midland branches are grouped together locally into five area, Central, Midlands, Southern, Northern and Wales. Midland was voted the best major high street bank in 1998. Midland Bank has been a major force in British banking since the last decades of the nineteenth century. Charles Geach established the first Midland bank in Union Street in Birmingham in 1836, just after the industrial revolution. At the time it was known as the Birmingham and Midland Bank. After expanding in the Midlands, the bank grew nationwide in the 1890s when it bought the Central Bank of London. ...read more.

Middle

HSBC Training and Development When a new employee is recruited by HSBC, they are immediately placed on a training programme. This can take place within the business or outside the business. HSBC train their employees outside the business, but some new employees are given mentors. The human resources department in HSBC say this a good way for a new employee to train, as the new employee can pick up how to operate in their roles by someone with experience. The human resources department say that both ways of training are very effective, but the training off-site involves travelling to a location outside the business which can be costly whereas the mentor method can be time consuming, so they both have advantages and disadvantages. HSBC employees also still have to go on training programmess as their careers progress. This is so that they can keep developing their skills. When HSBC was fitted with new computer systems, the human resources department selected a few employees for training, so they can get used to the new system and use it with confidence. HSBC say they only send a few employees as these employees can then teach the rest of the employees at HSBC and it will be less costly. HSBC say when an employee is not able to achieve targets set, it could be due to a lack of skills so then the human resources department of HSBC will send them to a training course to improve their skills. HSBC human resources department say 95% of the time when these employees come back from training they will achieve targets that have been set for them. HSBC on the job training A lot of the employees learning and development will take place 'on-the-job'. This could take the form of * Coaching by another employee with experience of the job * Job shadowing - watching another employee and familiarizing themselves with the role * Performing the role under supervision * Self-study to familiarize themselves with procedures (for example, job training aids) ...read more.

Conclusion

Policies are increasingly tailored towards sales targets and increasing use of technology. HSBC's Human Resources department needs to address the issues highlighted. Summary of Problems * High degree of change leading to instability * Inadequate staffing levels causing stress and health problems * Job insecurity (partly due to general changes in banking sector) * Employees feeling undervalued * Organisation adopting a culture of being cost and sales driven * Low staff morale and motivation Leading to... * Low quality of customer service and security lapses Staff at HSBC have been neglected in management's quest to deal with an increasing number of entrants and changes in the banking sector. Staff have become increasingly demoralized and less committed to HSBC. Reform is certainly needed in this organisation and the Human Resources department can help implement this. The suggestions highlighted can all be implemented by HSBC. The benefits of the scheme are: * Higher staff morale and motivation * Adequate staffing levels * Greater job security and stability * Wider acceptance and understanding of change * Reputation for being concerned about the welfare of employees * More productive workforce Introducing these schemes will improve the working environment, which in turn will improve the quality of customer service and lead to greater sales and profitability. The proposals will also lead to development of the bank as staff and management work together for the common goal of improving standards and increasing the competitiveness of the bank. In 1998 HSBC's operating profit* was �1,153 million1. Some of this money could be used to fund schemes to improve working conditions for branch staff. It is still important to continue marketing and competitive activities but more emphasis should now be placed on overcoming problems that have been created at branch level and funds channeled into improving employee welfare. HSBC's mission: 'Our aim is to be the most respected and successful bank'. They intend to achieve this through "establishing a nationwide reputation for outstanding customer service".2 They are unlikely to be able to achieve and sustain this ambition without first investing in the people who deliver this service. ...read more.

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