Human Resource Management

By- F113847

21BSP303

Word count - 1400

Abstract

We offered various short- and long-term strategies to deal with the EBG bank's operational
and strategic difficulties. Short-term tactics include encouraging change management,
increasing motivation through goal setting, and establishing a more flexible human resource
organisation. Long-term strategies focus on international human resource management and
how it may be improved with a talent management programme. The significance of equality,
diversity, and inclusion in connection to the company's strategic goals has been discussed.
Table of Contents
Operational issues ............................................................................................................ 4
Change Management ............................................................................................................... 4
Increasing motivation using Goal Setting Theory ....................................................................... 4
Flexibility ................................................................................................................................. 5
Implementing Hybrid working model to increase flexibility- ........................................................................ 5

Long term strategic issues ................................................................................................ 5

IHRM and Talent Management Programme .............................................................................. 5
Building a work culture that promotes Equality, Diversity and Inclusion .................................... 6
Conclusion ........................................................................................................................ 7
Reference list.................................................................................................................... 8
Operational issues
The employee retention is one of the major operational issues faced by the EBG. It has a poor
employee retention and higher employee turnover than the industry standards. Another
operational issue is the poor customer service given by the employees. It is evident that there
is a lack of motivation among employees and scope for training and development. Below are
some ways through which the company can deal with the operational issues-

Change Management

The business landscape is constantly evolving, managers must understand how to leverage
the changes in order to manage the challenges. Human resource change management is
concerned with redefining employee roles and responsibilities by differentiating tasks based
on the person's strengths and weaknesses. It aids in reducing or eliminating resistance to
change through communication. Changes should be introduced in distinct phases so that
employees become accustomed to the change. The company can also provide support
systems and training programmes to ensure that employees understand what is expected of
them in the midst of change. (Redman, Wilkinson and Dundon, 2017)

As the bank undergoes ongoing changes, such as redistribution of responsibilities, it must

integrate change management strategies to train its human resources to deal with the firm's
changes. EBG, for example, is relocating operations to the Fulchester 'Customer Contact
Centre' (CCC). As a result, the organisation should give staff with training and development
so that they can handle the new operations competently. They must also motivate personnel
by implementing new goals and targets and tying incentives to those targets. The new tasks
would be assigned to employees based on their skills and expertise. Furthermore, the task
would be divided into distinct phases to allow employees to adjust.

Increasing motivation using Goal Setting Theory

Goal-setting theory is concerned with the effects of goal-setting on subsequent performance.

It is an employee-engagement approach which focuses on setting clear and quantifiable goals
to boost productivity. The goal setting will help increase the employee engagement in the
workplace and it will also improve employee performance by increasing efforts and overall
motivation. The goals are linked to the company’s strategy and development plan. Setting
and achieving goals gives employees a sense of accomplishment and it also increases the
customer satisfaction. Achievement of Goals should be linked with annual incentive plan and
career progression that will encourage the employee further to perform. (Redman, Wilkinson
and Dundon, 2017)
In this case, the bank can formulate goals to increase customer satisfaction, increased
productivity, increase lead turnover. The employee would be engaged in fulfilling the targets
while being in line with company strategy.

Flexibility

Workplace flexibility is defined as "the ability of workers or employees to choose when,

where, and for how long they engage in work-related tasks." It allows employees to blend
work and non-work related activities, which improves their job performance and level of
motivation. Also it gives the employer the flexibility to choose different recruitment
strategies such as employing on a part time basis, shift working, skill based deployment etc.

Implementing Hybrid working model to increase flexibility-

A hybrid working model helps to retain local and foreign talent by giving people the
opportunity and autonomy to work where and how they want. In this case, the EU based
employees could have been offered a hybrid working model after Brexit took place. This
would also help employees to deal with the repetitive nature of the work as they would be
working from their own comfort under less monitoring. This would provide better work life
balance which would further promote Worker Productivity and retention rates. (Rothwell
and Kazanas, 2003)

In the Hybrid working model the company will not be able to micro manage the employees
which would act as beneficial as the employees are dissatisfied with high level of monitoring
and the remote work will give the freedom to work according to their schedule but within the
specified time limit.

Long term strategic issues

IHRM and Talent Management Programme

International banking operations are increasingly more profitable because of the substantial
growth opportunities in ASEAN market and ease to source high calibre banking staff in lesser
salaries. So in the coming years the company should focus on international human resource
management through talent management programmes. IHRM plays a very crucial role in
terms of managing employees belonging to different geographical locations and countries.
(Redman, Wilkinson and Dundon, 2017)

Developing the international human resource management would help the company to
employ, train and develop and compensate the employees in international and global
organizations. This will help the company to expand in the international markets and do
higher value recruitments. (Redman, Wilkinson and Dundon, 2017)
Talent management seeks to attract, identify, develop, retain and deploy individuals who are
considered particularly valuable to an organisation. It gives individuals meaningful work and
opportunities for progress, and it also contributes to the creation of a high-performing
workplace. It promotes diversity and inclusion, as well as lifelong learning, which improves
the 'employee value proposition.'

Through the Talent Management programmes, the company can transform the work culture .
A positive work culture could be form through rewarding employees that live out your
company's values on a daily basis. These principles should be important to all employees and
articulated in a way that allows everyone to internalise and understand them. Better work
culture can promote engagement and retention.

The Talent Management programmes would be structured according to the 7 guiding

principles that reinforce and drive the company’s Corporate Strategy and will serve the future
talents needs for the company. The programme will be able to deal with the concerns that are
caused by BREXIT and ‘the great resignation’ as it would be open to international markets
and the international talents.

Building a work culture that promotes Equality, Diversity and Inclusion

As the company becomes global, the concepts of EDI becomes more relevant The EDI is
really essential as Teamwork and collaboration thrive in a diverse environment and Employee
loyalty and retention is strong when employees are understood. A strong EDI approach would
ensure staff are well prepared for international assignments, different workplace behaviours
in different countries and managing multi-cultural teams. It would also help the bank to
decrease the employee turnover globally. (Redman, Wilkinson and Dundon, 2017)

The EBG's Human Resource team should consider what data (both quantitative and
qualitative) they can collect and analyse to improve their EDI performance in areas including
as recruitment, progression, access to learning and development, and attrition.

Here, the HR team would be ideally positioned to gain from and face the consequences of
successful and bad EDI practices. HR must stand against arbitrary methods to EDI, such as
unconscious bias training, in the absence of a clear EDI plan, strategy, and applicable
Objectives. The success of EBG's EDI programmes is inextricably linked to the success of
HR activities, the HR team must continually challenge their organisations to do better.

Following the EDI principles, communication and collaboration in the employees should be
developed to improve the overall efficiency of the bank. The EDI would help the culturally
fragmented parts of the EBG to work together. As the company just gone through the mergers
and acquisitions, the deployment of EDI is necessary to collaborate two different work
cultures under the same management.

Conclusion
HRM processes range from talent identification through talent deployment, as well as talent
retention and development. The EGB bank has a lot of scope in developing the HRM process.
Poor staff retention and low customer satisfaction can be addressed quickly employing
human resource operating strategies. Creating a work culture and an effective multinational
human resource management system will take time. The talent management programme can
be tailored to the needs of the organisation in order to attract foreign talent and provide them
with a pleasant work environment that adheres to EDI principles.
Reference list
Redman, T., Wilkinson, A. and Dundon, T. (2017). Contemporary human resource
management: Text and cases. 5th ed. Harlow, United Kingdom: Pearson Education.

Rothwell, W.J. and Kazanas, H.C. (2003). The strategic development of talent.
Amherst, Mass.: Hrd Press.