Student Name:

Student ID:

Unit/Module: 1/ Business and the Business Environment

Programme: HND in Business

_______________________________________________________

Nelson College London

1
Table of Contents

Abstract......................................................................................................................................3
Introduction................................................................................................................................4
Assess how organizational change would affect HRM competence and training:....................7
Completion of corporate objective and HRM practise of employee recruitment and retention:
....................................................................................................................................................8
Internal and external elements and HRM's influence on the growth of a corporation...............9
Human resource management strategies in the workplace, supported by the data showing they
boost productivity in the long run:...........................................................................................11
Induction strategy that may enhance the XYZ Bank's long-term organisational performance
..................................................................................................................................................13
Conclusion................................................................................................................................15
References................................................................................................................................16

2
Abstract
Human Resource Management team of XYZ, Luxemburg is facing a challenge while it is
balancing in between daily task and workforce output. Basically, the main objective of this
HRM team is to provide a fruitful work environment which will led to the ultimate
flourishment of this bank. In addition, recruiting and developing the worker’s skills are core
responsibilities of the HRM team. However, a company’s success and the overall outcome
depends on its HRM team and that’s the reason a company must have a competent HRM
team. It is assumed that some of the external influence is the main reason behind the failure
of XYZ Bank’s work culture. This report will elaborate the core duties of HRM team of this
bank and the concerns of HRM as well as it will also design an appropriate work culture
framework which could provide stability.

3
Introduction
HRM is crucial for every business and appropriate recruiting requires a strong HRM
department. In addition, human resource management is important for recruiting, training,
problem-solving, work satisfaction and satisfying financial obligations. However, this
department maintains employees' rights and qualifications as well as preserves the
corporation goals. HRM team is immensely important to an organization and that’s why it is
considered as "heart and soul" of a company because it ensures development and selects the
appropriate workforce (Armstrong and Taylor, 2020). In this report, as the HRM
administrator for XYZ, I will discuss the HRM practices of this company as well as the
numerous approaches to its various protocols that boost the employee participation of this
organization. Firstly, this report will discuss about the primary aspects of XYZ Bank’s HRM
and that will lead to the description of HRM team’s contributions in terms of recruiting and
developing the workforce. After that this paper will elaborate about the internal and external
factors which impacted this organization’s work culture and the possible measurements that
can be implemented by the management team. However, along with the key contribution and
the observation of the HRM, this report will also contain the framework which can be
followed by the stakeholder and the relevant management team of XYZ to ensure the
company’s sustainability.

4
HRM fundamentals and their relevance to long-term productivity:

HRM is one of XYZ Bank's most valuable assets and this department HRM is accountable
for ensuring that the company's core objectives are accomplished. This department also plays
a significant role in the enforcement of employee laws and regulations. HRM of XYZ, on the
other hand, is involved in employee recruiting, the quality enhancement of the workplace
culture and the prosecution of the corporate norm violations.

Selection and hiring of the personnel:

HRM of XYZ Bank is actively contributing in the employee recruitment and this department
considers workforce as an asset. Without a skilled and experience workforce, a company
cannot survive. However, while recruiting an employee, HRM of this organization mainly
focuses on the leadership skill, work experience, commination skill, technological and
intellectual skill in a candidate. In addition, the team also emphasizes on the skill sets of a
candidate that can retain the company’s main objectives which could led this company to the
flourishment. On the other hand, previously one of the greatest strengths of XYZ, Luxemburg
was its diverse work-culture where employee from different countries came together and
grew up in different dimensions.
Still this organization hires employee from different nationality in order to sustain as well as
to understand the global market. However, in order to execute any policy, the HRM team
creates a layout of the company's requirements, advancement possibilities, existing job
market conditions, opponents, and then also evaluates the organization's current working
environment. (Lundy & Cowling, 1996). For instance, one of the risk factor of this
organization is now the influence of the local similar business such as PQR bank. Now due to
the diverse work-culture and the sharing of ideas, some of the staffs are being influenced by
the neighboring PQR bank and not maintaining the punctuality. Hence this is mandatory for
the XYZ Bank to select the competent workers while recruiting. Furthermore, such HRM
department strategies would aid XYZ Bank in gaining a major competitive advantage (Liker,
2004).

Motivating the workforce:

5
Encouraging or providing employee with the recreational facility is the must in order to
motivate the workforce. The growth of each industry's success depends on the positive
energy of its employees. Individuals who are demotivated cannot contribute in the
organization (Felgate,2020). XYZ Bank is an international organization and the HRM of this
organization makes sure that the employees are properly motivated and receiving additional
incentives based on their performance. Even in the challenging moment, XYZ Bank has
provided its staffs with recreational aspects so that they can boost themselves and give their
best output. However, our individual must have an unwavering contribution to implement
positive change and steady development while working. Several motivating tactics, including
the distribution of rewards, remuneration and performance incentives should be used in order
to encourage our workers.

Instruction and cognitive improvement:

The HRM staff is also responsible for fostering an atmosphere that is conducive to employee
development and improvement. Achieving modern knowledge and experience is required to
enable the continued development of both the organization and the individual employee.
Hiring the most qualified applicants for a certain position and expecting growth to increase
over time is not a realistic expectation. I n this context, XYZ Bank staff should participate in
time management and career development training. As this is a multi-cultural bank, its
employees should also attend language seminars in order to provide quality service to its
domestic and international customers. However, a s part of an individual's professional
development and the organization's growth, these courses should be mandatory. In addition,
HRM at XYZ Bank should develop a staff handbook that outlines the organization's primary
objectives and the consequences for breaching norms.

Organizational culture and conditions:

The productivity of an organization is heavily reliant upon its work environment and
worker's conveniences. This characteristic is not distinct to XYZ Bank; nonetheless, we
recognize individuality and include diversity. However, this bank is attempting to establish a
culture that will allow absolute productivity. In order to do this, it is essential to foster an
environment where diverse perspectives are being treated with equal respect. This company's
HRM ensures that employees are allowed to discuss their prescribed plan of development that
they wish to attain within a certain time frame. If we can ensure that our workers are
satisfied, we can protect our work culture. Therefore, HRM must promote and reward those

6
who have optimism and moral character (Blackburn Energy, 2022). In the development of
XYZ's work culture, we should ensure that our employees are well-adjusted in a multi-
cultural setting with a positive attitude, as opposed to adopting immorality or impunity.

Assess excellence and effectiveness:

Qualified employees are an organization's greatest advantage when it comes to achieving its
objectives. HRM examines the qualifications and experience of an employee and assigns him
in the job that best matches him. However, HRM team of XYZ evaluates staff performance
and take measurements if there is any violation towards the organization's goal. On the other
hand, this department also finds out the deserving staffs and appreciate them based on their
performance.

Assess how organizational change would affect HRM competence and

training:
Numerous elements affect the character of organizations, including technology, globalization,
contextual practices and others (Gyllensten et al,2020). As XYZ is a diverse organization, the
HRM department's practices must evolve in order to maintain effective communication with
employees. If any aspect of a factor like as globalization, technology or socio-cultural
term changes, HRM swiftly removes hazard if needed and executes new plan
for improvements. The following are the primary HRM-motivated considerations for
restructuring a company.
Global impact: The employees of the bank XYZ are sharing a diverse workforce. This
bank's operating purpose is dependent on the foreign financial backing and labor, thus each
worldwide event has a good or bad impact on the whole company. Hence, the HRM team at
XYZ ensures that the company's pay scale is comparable with the similar local and
international organizations. Additionally, the organization takes the effort to develop its
global workforce and guarantees that workers from all over the globe may communicate and
function in a secure atmosphere.
Technological impact: Utilizing new ideas, developments and technology to satisfy the
company's demands is another HRM innovation of this bank. It is more related to anticipating
future requirements and scenarios than reacting to a present issue. Moreover, to create a time-
efficient and creative work culture which ensures success, workers must be knowledgeable
about technology and its correct use. In this respect, HRM of XYZ has attempted to employ

7
technical assistance to preserve the bank's discipline. Using a computerized device called
"time- clock," the company has monitored the attendance and the working hours of its
employees. However, it has assisted in identifying and terminating employees who
have violated rules. Therefore, it is essential to provide our staff with technical skills so that
the bank can avoid impending hazards.

Culture diversity and the impact of local culture: As stated before, this organization
collaborates with numerous countries, and each nation has its unique culture. While
conducting business, this organization modifies a number of rules, regulations and working
circumstances in order to accommodate diverse cultural perspectives. In addition, XYZ
acknowledges the cultural significance and origin of its employees. However, XYZ has lately
been subjected to extensive disciplinary actions in the workplace. By following the
surrounding bank's working environment in Luxembourg, employees of XYZ have begun to
take extra leaves during office hours. As a consequence, the employees were unable to
perform their daily tasks and were unable to sustain productivity. Therefore, it is essential to
value professionalism and efficiency, and HRM is accountable for maintaining a healthy
work culture as well as eliminating any negative cultural or environmental practices.

Completion of corporate objective and HRM practise of employee

recruitment and retention:
Analysis and employment:
The HR department of XYZ Bank controls both domestic and international recruitment. The
department helps to inspire existing workers and recruit new ones (Hoch and
Dulebohn,2013). In addition, our HRM is continually on the vigilant for innovative ideas and
skill sets; as a result, we maintain attractive recruitment standards for both international and
domestic applicants. Afterwards, our HRM team collaborates with the selected people and
assigns them to roles that benefit both the organization and the employee.
Promotion and enhancement of employee qualifications:
Simply acquiring competent employees and maintaining their cognitive state over time will
not guarantee a company's continued success. In order to compete on the global stage,
workers must gain awareness of new technologies and keep up to date over time. XYZ uses
technology features and teaches its employees to become more professional and productive at
work. Moreover, under the supervision of our central bank organization, our employees often

8
learns this approach and receives hands-on experience throughout a yearlong professional
skill development course.
Evaluation of efficiency:
XYZ encourages professional advancement for its workers based on their accomplishments.
In addition, XYZ's HRM analyses the productivity of its workers and provides them the
justified salary to reward them and encourage them to do even more. XYZ guarantees that its
workers get larger rewards of similar businesses on the market. As a result, people are seen as
a reliable resource for the business since they are willing to give their whole selves to
achieving organizational success. It leads to the ultimate development and profit growth of
the industry.

Compensation and rewards: Recognition and remuneration are significant aspects that
influence the mindset of a workforce and assure employee dedication. XYZ Bank ensures
that its employees are treated fairly and their contributions to the company's sales success are
acknowledged. This organization also provides the core standards for worker welfare,
transportation, access to medical care, compensation and housing.

Internal and external elements and HRM's influence on the growth of a

corporation
The HRM policy of XYZ Bank depends on both internal and external factors.
Internal factors:
Human resource management's strategy is influenced by internal elements including the
availability of skilled workers, technological advancements and a flexible work culture.

Workforce: The XYZ Bank needs competent workers to complete its daily responsibilities.
If the HRM detects a shortage of qualified employees, the organization must rapidly educate
employees or recruit new employee. Additionally, XYZ Bank appreciates hiring new
employees from many cultural backgrounds, who often apply their own unique ideas.
Nevertheless, HRM is responsible for hiring competent and dependable employees for this
organization.

Compatibility: Work life balance is essential and without a versatile work place, a company
cannot survive. In a comfortable setting, employees are more willing to work and discover

9
their latent genius. Consequently, this organization's HRM constantly prioritizes a pleasant
work environment and provides extra amenities based on employee demand.

Technology: During this day of rapid technological advancement, it has become impossible
for businesses to thrive without some degree of technical expertise. Therefore, we encourage
our employees and assign them to numerous technical support training courses. In addition,
we use technology assistance to preserve this bank's full database. In fact, we provide special
consideration to the candidates with technological expertise when recruiting new employees.

External factors:
A company can't control the variables that influence its performance (Ivancevich and
Konopaske,2013). Therefore, the HRM team carefully analyses the external elements of XYZ
Bank and adopts policies to ensure the corporation's survival.

Environment and its influence: The climate is a crucial component of a sustainable

company. Our HRM team is always aware of meteorological occurrences like as the Covid-
19 epidemic. During the years covered by the Covid-19, we gave more thought to the well-
being of our employees than we did to increasing profits.

Economic impact: Economic operations have a crucial part in a bank's worldwide

performance. As part of economic operations, components such as spending level, cost of
borrowing and inflation rate must be taken into account in order to manage a firm
internationally (Martocchio,2013). Consequently, while adopting new policies, XYZ always
examines the inflation rate, interest rate, GDP and worker wage rate.

Political and legal issues: The operation of a company requires compliance with a number of
administration legal requirements. HRM of XYZ must operate appropriately while adopting a
new policy in a national or foreign country, since the regulations and legislation of each
country's government are subject to change. For instance, BREXIT has an impact on the UK
business climate, therefore XYZ must consider tax, incentive and other facilities while
implementing a new strategy.

Technological factors: The HRM department should educate and instruct the organization's
employees on technological topics. In to keep the company's human resources up-to-date,

10
whenever a new technology hits the market, our HRM department intends to incorporate it. In
this way, our work culture is more efficient and well-facilitated in terms of maximizing
technology utilization. As a result, if there is a new technological advancement, our HR
department may notify all employees and urge them to learn about it.

Human resource management strategies in the workplace, supported by

the data showing they boost productivity in the long run:
The subsequent section of this report will concentrate on the HRM team's
organizational strategies.
 Recognition technique: This bank encourages its employees in the workplace and
also continually adopts new policies to strengthen its personnel via different seminars
and training sessions. This bank also focuses on the enhancement of the individual's
personal and moral development.
 Consistent motivation: Repeated justification increases staff productivity. However,
this bank is capable of providing both external and internal advantages to its
employees. XYZ Bank has a propensity to offer its employees external motivation
including incentives, promotions and financial rewards. Moreover, organizational
engagement in multiple decision-making processes could be used as an alternative to
intrinsic rewards in this company (Leatherbarrow and Fletcher,2018).
 Adjustable duty hours: This bank's HRM staff can maximise the job satisfaction by
granting schedule flexibility. In addition, this enables the workers to focus on their
task without additional stress to adhere to a set time period.

Below is a demonstration of XYZ's senior officer recruitment method:

Job title: Senior Officer, Loan Department

Location: Luxemburg, United Kingdom
Working hours: 40 hours per week
Goal: Increase the overall revenue and contribute in gathering capital for the bank
reservation.
Job duties:
 Creative and effective promotional strategies to promote XYZ Bank

11
  Presentation of a weekly report on performance.
 Supervise the multi-cultural team members while they carry out their daily
responsibilities.
 Improve consumer communication and boost the bank's total financial reserve.
 Formulate policies and execute them effectively
 Prepare the team and its participants, keep in touch with the supporting personnel and
provide them with the necessary assistance.
Experience and requirement:
 Higher educational qualification is required from any renowned institute in finance or
accounting.
 At least 4 years of experience in the banking sector.
 Excellent communication and leadership skill.
 Innovative and expertise in time-management
 Knowledge in latest technology.
Interview selection criteria:
When conducting interviews with candidates, HR professionals will look for the following
qualities in an individual.
Required qualifications of a candidate:
 Leadership potential;
 Proficiency in relationship development and communication;
 Extensive understanding of drilling technology and supporting tools.
 Consultation quality and persuasion ability
 Etiquette and professionalism

12
Induction strategy that may enhance the XYZ Bank's long-term
organisational performance

Induction plan is crucial for the XYZ’s HRM department while solving issues and
implementing new policies in the workplace. However, XYZ Bank is suggested to follow the
below induction plan in order to protect the organizations’ work culture as well as to ensure
the sustainable development.

Analysis the work-culture: Analyzing the entire work culture of XYZ Bank is a must.
Without analyzing the workplace, human resource team of this organization cannot evaluate

13
the level of progress or output of the workforce. However, evaluation of the workplace
determines the major concerns within the organization.

Define the problem: XYZ Bank’s main concern is the incompetence of its workforce.
However, the work culture of this organization has been impacted negatively by the similar
local businesses situated in the same city. As a result, some of the workers of this bank are
spending their office hours in their personal task. That’s the reason they are failing to
complete their daily task and the objective of the bank are being violated. However, the HRM
team has implemented few policies and facilities for the workers so that they can focus on
their work. Unfortunately, all of the attempts have failed to maintain the punctuality of the
workers.
Proposal: HRM team of XYZ Bank can strictly follow the British workplace culture to
ensure that the workers are responsible for their duties. However, HRM team can also
implement new policies using the technology. For instance, calculating office hours with the
help of clock machine or finger print machine could be a great help. In addition, fine or
penalties due to the violation of rules and regulations can also influence the workers to
perform sincerely in their assigned task. However, flexible working hours is another way to
energies the employee with their preferred working hours. Last but not the least, reward and
monthly evaluation of the employee outcome should be done in order to encourage workers.
Approval of new policy: XYZ Bank is an authorized organization and it needs approval
from the Secretary of the Luxemburg Bankers Association while executing new policies.
Hence, this part is challenging and without the support from the Bankers Association, XYZ
Bank cannot implement any new policy no matter how effective those policies are. Therefore,
approaching to the association with the appropriate proposal is one of the most important
parts of this induction plan.
Implementation: After approval of new policy, implementing them is another challenging
portion of this induction plan. A successful implementation of the approved policy should be
followed up by the HRM team of XYZ Bank. In order to implement and adopt new policy,
the human resource team should arrange seminars or training sessions for the employee and it
also should be taken into account that after implementing the new policy, the workplace
outcome should be evaluated weekly.

14
Conclusion
HRM at XYZ Bank aids in motivating, helping and educating its employees to boost the
organization's production. Nevertheless, it adheres to all applicable rules and regulations in
its place of origin and overseas. With the assistance of an efficient HRM staff, a business may
acquire competent staff and assure its efficiency (Perrewe,2011). In addition, the targets of
XYZ Bank impact the development of its HRM reform agenda. However, HRM of this bank
is also responsible to alter any disciplinary issues if it’s needed.

15
References

16