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Barclays & HSBC - Improving Organisational Performance (my reference: bdr) - Essay Example

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BARCLAYS & HSBC - IMPROVING ORGANISATIONAL PERFORMANCE Name of institution: Date: Introduction HSBC and Barclays are rated among the companies which have the largest revenues and assets in UK. HSBC services include; personal loans and mortgages, debit and credit cards and payment services…
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Barclays & HSBC - Improving Organisational Performance (my reference: bdr)
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Download file to see previous pages The first cluster entails Global Retail Banking while the other deals with investment and Corporate Banking and the Wealth Man. HSBC Company services are saturated in most parts of the Asian regions whereas Barclays has concentrated its services in Spain. Emerging companies are economic growth foundations in the contemporary business world. However, little is acknowledged about factors contributing to the failure and success of both developing and developed organisations. The purpose of the paper is to address the role played by High Performance Work practices in HSBC and Barclays banks. The research paper will clearly outline the correlation between firm performance and High Performance Work Practices and challenges experienced by both. Importance of High Performance Work Practices in HSBC and Barclays High Performance Work Practices are bundles or set of human resource management practices that corresponds to the selection, performance management, training, information sharing, and compensation. All these practices are designed to retrain, attract, and motivate organisation employees (Way 2002, Guthrie 2001). The practices are labelled highly performing because they are intended to enhance performance that is superior to employees. It is argued that, these practices if used appropriately can result in an organisation sustainable success through empowering and building organisation social and human capital. There exists positive correlation between various HPWP and various firm-level of outcomes (Guthrie 2005, MacDuffie, 1995). Financial performance among HSBC’s and Barclays highlights only one significant dimension of the Companies success. As such, it is vital for managers to understand the importance of HPWP in producing innovation at company’s level (Rogers& Wright 1998). It is hypothesized that companies employing HPWP achieves greater innovation levels than companies which ignore the relevance of HPWP. Company’s innovation can be broadly classified into three types; organizational, Process, and products (Zahra et al. 2000). Product innovation entails coming up with new products. Process constitutes the innovation and the development of new technologies by an organisation. Organisation innovation refers to designing of new administration and management programs. In retail section, Barclays bank intends to include ethics in marketing. It offers incentive to customers via its credit card. Entrepreneurship and company’s-level innovation is inflamed by practices carried out by human resource management. For Barclays and HSBC to remain innovative, they should strive to pay wages that are above market level. This is because, individuals must be compelled to invest and take risks in projects that are entrepreneurial (Hayton 2005). In addition, compensation that is incentive-based should be correlated to company innovativeness and entrepreneurial behaviours (Carlson et al 2006, Hostager, et al., 1998). On the contrary, it is argued that, adoption of a paying structure that is based on interior equity perceptions results in innovation higher levels (Hayton 2005). Hayton states that, HPWP are often associated with surroundings that promote organisational citizenship behaviours (OCBs). These behaviours are significant in promoting communication, sharing of knowledge and enhancing ideas that are innovative. According to Hayton (2005), the employment of team work, ...Download file to see next pagesRead More
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