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Human Resources Management (HRM) is the deliberate launch into the effective administration of the workers in an institution to yield the profit. To get the best out of the given circumstances, we need to manage our resources, which in this case is humans that is why we need human resource management. As opined by Wheely (2010), Human Resources Management has sole responsibility for the growth and administration of a company to enhance the effectiveness. It deals with all kinds of paperwork and legal procedures for any new recruitment or in case an employee quits or is fired. It also looks after the concerns of the current employee and tries to motivate the employee to raise the production of the company.
P1 - Purpose and Function of HRM in context of Barclays. (M1)
Human resources are always an essential issue in any company because the people working in it decide a company's face. Thus, at Barclays it takes extensive care of its employees. It looks after its employees via screening, coaching and incentives. To provide better leadership to the world, it launched Leadership Program (Milewicz, 2013). The company is so obsessed with HRs that they have a program to train the future HR. The human resource management functions can be categorized such as operative, managerial, advisor function that explained blow:
Operative Function: These include many factors that is:
- Training and Development
- Professional Development:
- Performance Appraisal:
- Compensation and Benefits:
- Ensuring legal compliance:
In case of Barclays the HRM team recruits the best candidates who can help in the growth of the firm. Further, as an operative function employee development through training, employee encouragement through performance appraisal, rewards is also done.
Managerial Functions: This function includes planning, organization, directing and controlling.
Advisory Functions: Basically Adviser Group plays a vital part in HR management system, The Adviser Department divided also into two groups and that is,
- Top Management Adviser
- Departmental Health Adviser
Hence, the above stated HR function helps The Barclays Company execute its operation in a better manner.
P2- Strengths and weaknesses of different approaches to recruitment and selection process at Barclays (M2)
Barclays is always applauded for its workspace diversity and flexible work hours. It has a total employee of about 50,000. It is expanding for both onsite and remote positions. They generally tend to hire people with innovative approach and cutting edge of things. To maintain this huge number of employees the management of this organization should think about the Employee welfare, on that aspect SWOT analysis can play a crucial role.
Strengths of Barclays in context of HRM: As stated by Daniel (2013), the world of digital payments is growing rapidly and so is Barclays. There are big openings in coding, programming, engineers, designers and developers. They are also looking customer care executives who provide assistance. One of the strengths of Barclays is also hires virtual employee who does not have to relocate for the job. They also hire employees who can do any kind of work and are flexible too. They provide all variety of facilities to their customers whenever in need. According to the viewpoint of Jarvis (2015), one of the most significant weaknesses, here is the Barclays show too much trust in its employees.
Weakness of Barclays in context of HRM: Once, any member is not able to live up to the expectations it creates a ruckus of the situation. HR team has to go through all the rule and regulation systematically and take all the responsibility. Barclays yield and profit. The impact of HR management decision makes a profound effect towards company's exposure. According to the viewpoint of Legge (2017), the HR team maintains a leadership attitude towards the employee that helps to boost up in work. Barclays needs to keep a better relationship with customers about debts on credit cards. They need to change their present schemes on credit card charges and all the hassle to get a Barclays cards. They have offices in very few cities of Asian countries that need to grow. Apart that as intended by Legge (2017), Political rules tend to come in the way of Barclays as it is very hard with its regulations worldwide. Intense competition has led to recent downfall of the company, as it is not ready to lower its prices in the name of standards. Every country has different tax and revenue, so it should also change its levied percentage of taxes. Lastly, everything is as per the American business model, which is not compatible everywhere in the globe.
P3. The Benefits of Human Resource Management for Employees and Employer:
As intended by Gray (2014), Human resource management is the process of joining the human resource department with the intended goals of business to pick up the market goals in an effortless way. In short, human resource involves recruiting, hiring, and manage the employees. A confident and successful human resource system requires many more sections of that company like organizational culture and management health security. However, with an understanding of this part of HR management system business title-holders can proficiently structure its business strategy.
Organizational Culture: Organizational culture is nothing but gathering values, company that is Barclay’s vision, tradition, working rules and company's benefits that a company had achieved over the past years. As intended by Cox (2016), the Human Resource management plays a vital role in influencing the Barclays culture in front of a business prospective nature. Employees of the company know and learn from the HR department about the guideline, procedure; company's standard into the market and many other things which are acceptable in the workplace. For example, Barclays has a policy of punctuality, and that is very important on company premises. This policy promotes time management skills for junior employees, or the HR department of Barclays Inc organization accepts a better time soft time management skills that values employees self-determination to manage their schedule.
Planning for Change:
Nowadays business of the world changes rapidly with high accuracy and all the companies update continuously. It is the responsibility of the HR department to progress its own company, like other companies the HR team of Barclays helps the company for ongoing changes and it cannot be ignored (Neely, 2013). Planning for changes means assisting the employees to understand the company's profile, about its product and helping them to make out their roles allow for the larger picture of the company.
Training and Development: The Barclays Company has a very responsible and organizes HR Department that conducts the training and development of its new employees with proper norms (Cox, 2016). Selected all the candidates, from training periods are highly qualified and having better skills for respective jobs, by the HR team. In training time, procedure and policies are needed to be conveyed to the employees of the Barclays Company by the HR team. The HR department also is in charge of ongoing employees’ development. This continuous learning process keeps employees skills up to date so that they can apply their thinking in the working field.
Health and Safety: The main benefits given by HR system to the employees are health and safety security. In Barclays organization, HR department plays a keen role to ensure proper protection of employees (Milewicz, 2013). This can be achieved through policy and many others, but the company's HR function may go a step ahead to make sure the recruits are aware of the risks of its strategy.
Figure: Benefits of HRM
(Source: Solansky, 2018)
P4: Evaluate the effectiveness of different HR practice concerning organizational profit and productivity: (M3)
In The Barclays Company, the HR practices and policy on workers' yield is a significant subject in the area of Human Resource Management system, organizational philosophy and industrial relations. There are some ways in HR management increase the revenue implanting employee’s talent.
- Retaining Qualified Employees: The Barclays make available easy access and flexibility in employees favour. Thus, their employees can have their capable staffs for the organisation. By creating this situation, the HR Management manages the risk and lessening the organisation pressure (Legge, 2017).
- Encouraging the positive behavior: The Barclays provides a beautiful and competitive environment and auspiciously payback for its employees through the HR Management practice.
- Innovative and High Performing Employees: The company helps to promote its competitive environment and motivate its employees for better work performance. However, the reason behind this to increase the company’s net revenue, productivity from the market.
- Useful Direction an Execution: The managers of The Barclays company plays a significant role in setting the track, priority, purpose, goal, and perfection of the product market (Solansky, 2018). HR Management helps The Barclays to choose the right managers for the correct place. The HR Department l leads the company to the excellent site with revenue and efficiency.
- Team and personality goals with efficient communication: As intended by Legge (2017), to develop an organization especially who deals with huge number of employees, efficient communication process is very essential. To establish that, management can take help with any web based technology related organization. In this aspect, according to the Data Security Protection act 2007, management make sure about their secrete strategy to develop the business.
- Shearing and Collaboration: Profitability and productivity of The BarclaysBarclays improve magically and pick up the highest position when the outsider feels free to collaborate and share their idea and tools with company's employees (Milewicz, 2013).
- Updating employees performance to increase productivity: As of today's market with full of competition and collaboration, to cope up with this system The Barclays increase their employee's performance with the help of its HR team and create a massive pace of change to upgrade its skills and work techniques.
P5: Analyze the importance of employees relation in respect to infusing HRM decision machining at The Barclays: (M4)
Every worker shares a beautiful relationship with other fellow workers in The BarclaysBarclays Company. As stated by Marr (2013), it is mandatory for them to build a healthy relationship with others employees to carry on the work. The employees need to talk and to discuss work relate topic in the market perspective. It is essential for any corporate company that to maintain a good communication by which any work can be implemented with establishing a team and finally achieve. Some of employees associations are like specified below:
Distribute the work among all employees: In the Barclays, company's worker easies the workload by sharing among all others employees and work as a unit and that increase the chance the productivity of the company (Solansky, 2018). As it is next to impossible to do the whole work for one and handle it correctly, it should be divided among all other employees. However, that makes the job perfect and deliver to the customer, or the market in between require a timeline. If the employees have a good understanding of other employees, they will have the aptitude to help to make the job trouble-free.
A bitter argument among workers: Good relations among all the employees of The Barclays reduce the chance community dispute and fight between them. The employees trust each other to complete the projects of The Barclays Company (Cox, 2016). They consider their fellow workers as a family member rather than a competitor to the work field. As a result, the net revenue of the company from the market grows and its help the HR team to make an easy decision for their authorization.
Loyalty of the employees: enjoyable and interactive work environment in The Barclays Company helps to generate the trustful and loyal employees. As said by Solansky (2018), the employees feel motivated to deliver the given task them by the company. They present with more hard work that leads to superior efficiency and returns to the company. Moreover, the rate of income is very few in the company that helps to maintain the cost of hiring new employees.
Guarantee equal opportunity by communicating effectively: The Effectively communicative system in The Barclays Company helps to make sure that the recruits that there is no unfairness diagonally the country in any perspective. As an effect, the employees can get more motivation to execute their task to attend their desired goal set by the HR Management system. Proper communication system assists the company's HR team to take the right judgment it requires time.
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P6. Identification of the key element of employment legislation and the effectiveness on HR Management decision making in The Barclays:
Like other reputed multinational companies, in The Barclays is also retaining the employee's authorization while recruiting the new employees and even previous employees in the company that has some significant impact on the HR Management judgment machining for the organization. Therefore, the critical legislation is given below:
Defining Position: As the time of recruiting process, the company has to elaborate to the employees about his position in that company. The HR management describes the working process, responsibility and the right direction for the employees.
Proper Compensation: The Company should define every employee's compensation at the time of joining. As opined by Milewicz (2013), it must make sure their employees about their minimum payment and working hour. After the exact conformity on every perspective, The Barclays selects its desire employees.
As per the Equality Act, 2010, everyone needs to be treated equally irrespective of caste, creed, gender, age, culture and ability. The Company must maintain the equality in every viewpoint while recruiting new employees. There will also be equality in salary, working hour, sex, health facilities and many other factors. There should not tolerate any racism between any employees and the management. As opined by Solansky (2018), if there is any discrimination, the employee may inform the management authorities.
Time of work: Employees should be alert the time which they were expenditure to the company, that means the on a daily basis working hour to perform the task. As directed by Milewicz (2013), they may take the overtime duties, but before that, they should know that what amount of extra compensation given by the company for overtime. The company should allow a proper holiday plan on a yearly basis. In this case, planning a year base holiday plan for the employees of the company helps the HR team to make a proper plan for them.
Sex Discrimination Act, 1995: This act of Chamber of Deputies participate that women and men the grounds of sex, marital status and even gender. This includes four kinds of unfairness such as, straight and complex discrimination, exploit and irritation. In shake of direct unfairness, an individual can directly harassed or misappropriate behavior by other employees management or staffs of the organization, employee can be terminated from the organization. Even a general diary can be issued through the specific charge to the administration.
Employment Right Act, 1996: This is the rule of UK Parliament, which make sure of that the candidate working in the institution get the advantage of worker when the employees work. As opined by Milewicz (2013), if any employee can discriminate by the others and the individual can provide a prove to the authority, that can be an issue. In the year 1997 this act was little revise by the Labor authority to involve the suitable working time in the work process. If any organization has decided to terminate an employee, the management has to show reason to the individual according to the Employment Right act.
P7. Illustrate the application of HR management practices in a work-related content, using specific scenario of The Barclays: (M5)
Employee welfare comities: The Barclays should create Employee welfare comities, which maintain all the employee related issue and maintain a correct employee management ratio (Cox, 2016). These comities may look after all the employee’s problem and helps to the HR management to identify the right candidate as require its job profile.
Job and person condition: Preprinting job preparing and candidate's situation applies to the employment circumstance and requirements of The Barclays, taking into description legislation and company policy.
Recruitment and selection procedure: The HR management plays a vital role in the interview and selection process and helps the company to make a right decision for choosing the best employee for the job.
Design and placing job advertisement: For promoting The Barclays, the HR manager is the backbone of this company. According to the viewpoint of Milewicz (2013), today's market is demand less offline marketing and more online marketing, to promote the company in the online market makes a solid foundation in the business field.
Shortlist and processing application: In interview season, the company receives millions of uses of an applicant, and from there it is next to impossible to choose the right person for the job. In that case, the HR management system helps to shortlisted the application of candidates and reduces the pressure from the company for the recruitment process.
Interview and training process: In selection process HR team have to go through all the rule and regulation step by step and take all the responsibility. From interviewing to the training period, all the process conducts under the guidance of HR department.
In this statement, many Human Resource topics have been talked about into thoughtfulness on which have shown the effectiveness of HR management in raising The Barclays yield and profit. The impact of HR management decision makes a profound effect towards company's exposure. The HR team maintains a leadership attitude towards the employee which helps to boost up in work (Solansky, 2018). In addition to employees right and responsibilities is described throughout the entire assignment. The good or bad effect both are mention of HR department in The Barclays Inc company. After examine and research process it is clear that human resource management in The Barclays company helps to influence the employees and take the better decision to achieve they are required goal and fulfill all the demands of the employees.
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