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Human resource management (Case study) - Essay Example

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Human Resources Management (Case Study) Date Total Word Count: 1897 Section A 1.1 To what extent does the approach to Talent Management at Standard Chartered Bank display features of SHRM? First and foremost, strategic human resources management (SHRM) has been defined by Boxall & Purcell (2003) as “concerned with explaining how HRM influences organisational performance…
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Download file to see previous pages It defines the organisation’s behaviour and how it tries to cope with its environment.” More precisely, the MBA Tutorials (2010) defines SHRM as “the linking of human resources with strategic goals and objectives in order to improve business performance and develop organizational culture that foster innovation and competitive advantage” (par. 1). The key features of SHRM were identified as: (1) some organizing strategies or schemes link individual human resource interventions so that they are ‘mutually supportive’; (2) a great amount of responsibility is transferred down the line for the management of HR; and (3) there is a precise link between overall organization strategy, organization environment, HR policies and practices” (MBA Tutorials, 2010, par. 3) In this regard, the Talent Management at Standard Chartered Bank displays features of SHRM in terms of manifesting the presence of strategies that show “emphasis on people that has seen HR issues ascend the corporate agenda, with the bank’s declared goal of measurably increasing its leadership capacity by 2011” (Case facts, 2). ...
.to introduce certain global standards and tools, (and) to give managers some freedom to decide locally how best to use them” (Case facts, 3).  1.2 Comment on the relevance of this approach in the light of the recent banking crisis? The Talent Management program that is consistent with the SHRM approach is appropriately significant in the light of the recent banking crisis due to its ability to gauge performance of personnel and bank branches regardless of their assigned locations; it has the ability to generate and integrate performance of employees on a global scale. In this regard, the effect of changes in the external environment could immediately be measured in terms of repercussive effects on bank branches worldwide and on how creative managers and respective personnel are in responding to the external pressures. The Talent Management Program of Standard Chartered manifests acknowledged the important roles and functions of HRM opting to implement SHRM in adapting to diverse factors from the external environment and adjusting to the demands of the times. Its ability to assess its effectiveness evolves into encompassing areas of employee development (employee behavior, attitudes and skills), competencies, performance, as these attributes all contribute to the achievement of organizational goals. As Cabrera & Cabrera averred, “no longer are operational measures of internal efficiency sufficient. HR departments must be able to demonstrate the value of their strategic contributions” (2003, 3) which are most applicable especially during the financial crisis. 1.3 Why is it important to measure the impact of SHRM? What might be included in an evaluation strategy to measure the impact of SHRM in ...Download file to see next pages Read More
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