Highlight the role and importance of HRM functions in achieving an organisation's purpose - Essay Example

Professionals as a human resource are vied as important in any organization in its aim to achieve its objectives. For example, such multinationals as Standard Chartered Bank view its employees based on how they are important in achieving the strategic goals of the organization. In return, the organizations hold the human resources dear to it that it ensures that whenever any decision is to be made that is likely to affect the employees; they have to be consulted in order to come up with friendly policies.

In a study commissioned by Michie and Sheehan-Quinn (2001), a survey of 200 manufacturing firms in the United Kingdom found that there is a close relationship between the performance of corporations and the human resource management strategies employed (Michie and Sheehan-Quinn 2001, pp.287-306). . agement is great when coherent policies are employed together with great employment practices and they are applied as a package (Kelliher and Riley 2002, pp.237–242). Human Resource Management (HRM) at Standard Chartered Bank Human Resource Management is one of the most important factors critical to the successful running of an organization.

This is because in the absence of a proper HRM program, there can be no clear vision for the organization and opportunities will be squandered and resources will be wasted as the full potential of the employees’ remain underutilized or untapped. Acquiring the right employees for an organization is important through good recruitment and selection processes is one way of having a solid foundation for the management of human resources in the organization. Standard Chartered Bank has employed numerous human resource management strategies in order to achieve its objectives.

Employee Retention and Managing Diversity Standard Chartered Bank aims at attracting and retaining the best talent in term of human resource at any given time. It is important to note that working for this bank accords an individual the opportunity to work in fifty-six countries that Standard Chartered Bank operates in and one can benefit from the banks valuable approach that manages people or employees by recognizing their values and thereby developing them on an individual’s talent and strengths.

The bank is able to have a diverse work force that it harnesses from the countries it operates in by ensuring that the workforce is of diverse, multi-talented and representative of all the interests of the places it operates in. The motivation for this is to attract and harness the different strengths and talents brought about by different individuals that make them