Answer To: 1.Assessment DetailsWrite an individual report on the following scenario within a 2000...
Arundhati answered on Apr 11 2021
Impact of successful HR Planning and Design on overall Business Performance
1. Introduction
New challenges like globalization, investment in human capital, growth, change management etc. are emerging and organizations from all over the world needs to manage and find opportunities through these challenges. Among these challenges the management of human capital has gained added importance, as organizations are realizing the importance of people or human resource as assets of strategic importance. The performance of an organization depends on the efficiency of the human resources involved with the organization (AlKerdawy, 2016). Therefore a systematic set up for recruitment, training and development, motivation, manpower planning, performance evaluation, industrial relation and remuneration management should be taken into consideration. Sheridan (1992) found that Human Resource Management is also concerned about the development of skills, ability and knowledge in the acquired human resources, so that the tasks and responsibilities given by the organization are performed effectively and efficiently. The main concept of Human resource management comprises of four main functions - Acquisition, Development, Maintenance and Motivation of the human resource. These are the basic factors or key steps that help an organization to achieve its goals (Pohl, Vonthron and Closon, 2017). The main intention of this report is to understand effective HR planning and design influence the overall performance of an organization. A case study of Lloyds Bank Plc. is taken under consideration to understand and evaluate the topic in a more clarified way.
2. Background of the Organization
The Lloyds Bank Plc. is British commercial and retail bank with outlets across the England. The Lloyds Bank Plc. is traditionally considered as one of the major clearing banks in the UK. In 1765, the bank was established in the Birmingham (Lloydsbankinggroup.com, 2018). In a banking sector, the management of human resources is much more difficult than capital management or technology management. The definition of Human resource management (HRM) evolved in the later period of twentieth century. In the current day world, survival of an organization depends on the development of new capabilities; as a result organizations are facing critical challenges in all over the world.
In Lloyds Bank PLC, human resource management works for maximum positioning of business resources for the effective outcome of the organization. HRM department in Lloyds Bank PLC develops strategies and applies plans and program for utilization of the organization resources. The major functional area of the human resource management for the organization is planning, staffing, and employee development and maintenance. The functional area which is focused on the human resource department is the quality of life, career planning and the professional development of the employees. Therefore, the human resources management plays a vital role in managing the workforce with personal and professional development which leads to the overall development of in Lloyds Bank PLC and their workforce (Lloydsbankinggroup.com, 2018).
3. Impact of changing demography on the HR planning
Banks just like any other organizations require having their human resource managed. This is because the role of HR department ought to ensure that the facility has adequate staffs to enable the facility meet its strategic objectives of HR planning and job design. Notably, the Lloyds Bank PLC HR department is involved in many activities that may include hiring as well as training of the diverse employees working extended national and international region. Moreover, the department is responsible for ensuring support regarding management of the bank (Arunika and Kottawatta, 2017).
According to leadership theory, the culture of any organization significantly affects the capacity to achieve its authoritative objectives as well as goals. It is the identity of the association. In spite of the fact that the staff may originate from different demography, their view of the company’s culture would be the same. Although it is conceivable to have extraordinary leaders in the autocratic form of leadership, employees ought not to be devoted as well as dedicated in this aspects of leadership as they do not have any liberty rather than following instructions (Chin, 2015). Accordingly, it is important for the progression of the working environment to be transformed with the aim of promoting positive results. Motivation as well as leadership ought to be two interrelated factors that ought to dependably enhance positive results. Poor or incapable administration procedures are perceived to result in having the organization’s culture is poor (Gill et al., 2018).
In Lloyds Bank Plc, the issue of collaboration within the working...