Running head: HUMAN RESOURCE MANAGEMENT 1
Thegoal of effective human resource managements is to facilitate theachievement of organization goals through developing employees’talents, improving work conditions and integrating employees’ goalswith those of the organization. EarlyHuman resource management practices dealt with personnel management(PM) as a specialist area. However, due to globalization,technological development and increased economic progressthe practice of HR has changed significantly. Today, HRM practicesinvolve more than personnel management through such aspects asemployee training, conducting performance appraisals, improved rewardpackages and managing industrial relations as a way of improvingemployees’ productivity (White& Bryson, 2013).
Thescope of HRM has expanded to capitalizeon employees’ output and achieve organizations strategicobjectives. As such, strategic human resource management (SHRM) hasevolved as a new dimension in HRM in which employees’ needs areintegrated with organization goals to achieve maximum benefits. As astrategic measure of improving employee productivity, current HRMpractices are aimed at initiatives that enhance employee talentdevelopment, competitive reward package, diversity at workplace,inclusion in decision making and dealing with industrial laborrelation issues. The overall goal is to reduce turnover rates, retainand develop competitive employees thereby maximizing organizationoutput. The following is a discussion on ways that HRM at ANZ Bankcould use to achieve corporate strategic objectives as well asdeveloping a competitive workforce.
TheHRM strategy of meeting the needs of employees
Humanresources practices hold determines how successful organizationachieves their corporate goals. The HRM should understand bothinternal and the external HRM system practices that impede effectiveperformanceof employees. Human resources planning (HRP) is an important aspectin organization strategic planning by progressive development ofemployees’ talents, engaging in competitive resourcing andsuccession plans. The objective of organization HRP should berecruiting the right candidates with the right work attributes atconvenient time and place to achieve organization strategic goals(Gould,2013).
Thereare myriads of challenges that need effective HRP in such areas asmanaging workforce on working hours, equal pay, recruitment, trainingand promoting diversity at work. The HRM at ANZ bank need to embraceand integrate SHRM practices with its organization goals as part ofHuman resources planning. In strategic human resource management,firms need to realize that employees are means through whichorganization goals and competitive advantage of the firm areachieved. In this case, the HRM at ANZ bank need to embrace effectiveHRP as a way of aligning the business needs with those of employees.This can be achieved through adequate and appraised employeerecruitment, training and development needs, remuneration, level ofemployee participation in decision making and re-designing jobfunctions to suit employees’ capabilities (White & Bryson,2013).
Effectiverecruitment method is important in the acquisition of talentedemployees. Organization output is improved when organization engagein effective selection plans for the right candidates (Boxall& Macky, 2007).The goal of HRMshould be to attract, select, hire and retain the best-talentedemployees that suit job description in the organization. This isimportant as it ensures that only individuals who have positive workattitude and take innovative initiatives are recruited to benefit theorganization. As such, the HRM at ANZ Bank needs to apply arecruitment process that is effective and suited to organization jobdescription objectives. In this way, the firm will achieve adiversified workforce that shares the organization ambition(Gould, 2013).By recognizing that employees are strategic assets in theorganization, the recruitment process at ANZ Bank should apply SHRMto optimize job description, business goals with candidateattributes. In this way, ANZ Bank will get candidates interested ingrowing their career with the firm the resultant effect will bereduced turnover rates and productive employees.
Promotingeffective employees’ relations and competitive remuneration
Embracingthe pluralistic and unitarist perspective
Employeesperform well if the organization adequately addresses the needs ofemployees. The human resources need to promote a common interestbetween the employees and the organization managers (Boxall &Macky, 2007). In this case, the firm needs to improve such aspects aseffective flow of communication across the organization levels andencourage participation of employees in union groups. In Accordanceto pluralist perspective, the HRM need to enhance easier meansthrough which conflicts are addressed. According to social contracttheorist, employees expect organizations to protect provide andenhance their work and individual needs in line with achievingorganization goals(Maslow, 1943).As such, HRM should enhance work environments in which openness isfostered in listening and responding adequately to employee issues.
Behaviortheorist such as Abraham Maslow observed that, employeeactions are influenced by their innate psychological needs. Inparticular, employees have basic needs that are only addressed whenorganizations continuously remunerates their employees. Maslow (1943)further observed that workers have self-esteem and self-actualizationneeds that when satisfied motivates employees to increase theirperformance. Therefore, the HRM at ANZ needs to reward and appreciateemployees as a way of enhancing theirjob satisfaction and improve and their work performance. Inaddition, the organization should allow employees’ independence andcontribute in organization decision-making as part of promoting theirself-actualization (Boxall& Macky 2007).
Aspart of enhancing and developing effective workforce at ANZ Bank, theHRM should facilitate a work environment where communication flowseasily and teamwork is enhanced. Therefore, the HRM can assist theBank realize its strategy by competitively rewarding their staffs,eliminating discrimination, promoting equal opportunity in selection,promotion and participation in decision making. The best way is forthe HRM to integrate employees’ needs with organization goalsdeveloping and investing in quality employee performance is in linewith achieving quality organization output(Boxall & Macky, 2007).
Thekey to improved employee performance and enhancing talent developmentis through training. As epitomized in the High-performance worksystem (HPWS) paradigm, organization production is enhanced whenemployees are continuously engaged in training and development(Barney & Wright, 1997). Employee training and development helpto impart positive behaviors to employees as well as developing theirknowledge and skills this enhances the sustainability oforganization performance and its competitive advantage in theindustry.
Inaddition, training and development facilitates employees’ careerprogress thereby satisfying their self-actualization needs asespoused by Abraham Maslow (Maslow,1943).Training and development improve employees’ skills, experience, andcommitment and enhance effective work relationships (Davidson,McPhail & Barry, 2011). Furthermore, training and developmentencourage employee participation in decision making, teamwork andenhance positive work attitudes. Therefore, the HRM at ANZ needeffective programs to train and develop their employee capacity toenhance talent retention and diversity of ideas as key aspects ofrealizing organization strategic goals(White& Bryson, 2013).
Thereare several ways of enhancing effective work output in organizations,and the goal should be integrating employee interests with those ofthe organization. The most significant aspect that the HRM capitalizeon plans aimed to improve employees’ value as a competitiveadvantage. It is employees’ competency and dealings with clientsthat improve the performance and growth of organizations. As such,the HRM need to improve employee performance and motivation throughcompetitive reward packages, good work environments and developingemployees’ skills through training and development.
EmbracingStrategic Human resource management (SHRM) in organizationscontributes greatly to effective performance of organizations. Whenemployees’ needs are integrated with organization goals, theoverall performance and success of the firm is enhanced. Employees’output is enhanced by competitive rewards, training and development,good work relations and participating in decision making for thefirm. In this way, employees’ retention, commitment andresponsibility are enhanced as they feel part of the organization.Consequently, this results in the sustainability and competitiveadvantage of the business among its competitors.
BarneyJ. B. & Wright P. M. (1997). On Becoming a Strategic Partner: TheRole of Human Resources in gaining Competitive Advantage. Ithaca, NY:Cornell University, Centerfor Advanced Human Resource Studies.
BoxallP. & Macky K. (2007).High-performance work systems and organizational Performance:Bridging theory and practice. UK, London: Sage Publications.
DavidsonM., McPhail R. & Barry S. (2011). Hospitality HRM: past, presentand the future. InternationalJournal of Contemporary Hospitality Management.Vol. 23 No. 4. Gold Coast, Australia: Emerald Group PublishingLimited.
GouldA. M. (2013). Employer policy and manager practice in the fast foodindustry: a match made in heaven or a loveless marriage.Asia Pacific Journal of Human Resources,Australian Human Resources Institute.Vol. 51, 307–329.
Maslow,A.H. (1943). A Theory of Human Motivation Psychological Review, 50,370-396.
WhiteM. & Bryson A. (2013). Human Relations,Positiveemployee attitudes: How much human resource management do you need?UK: Sage Publications.