Importance and Components of People Management
| Subject: | 💭 Psychology |
| Type: | Evaluation Essay |
| Pages: | 1 |
| Word count: | 494 |
| Topics: | Teamwork, 🔥 Motivation, 😇 Organizational Behavior, 🙋♂️ Management, 👩💼 Human Resources |
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People management is the process of hiring, disciplining, training, assessing and firing the employees of an organization. It is the most crucial leadership skills to boost the morale of an organization’s labour force. The factors that limit the efficacy of people management are lack of support from the senior hierarchy and inadequacy of information. A theoretical framework that can be used in the people management processes is Maslow’s hierarchy of needs (Bloom and Van Reenen, 2007). It addresses the fact that employees expect to be paid for the service they provide to the organization without having their physical or mental well-being threatened. This theory is relevant to the case of HSBC as the company treats its employees as its most valued assets. HSBC helps its employees to reach their full potential by encouraging individual ideas. The people management policies of HSBC include rewards, benefits and skill-training programs.
Recruitment and Selection
The recruitment and selection(R&S) policies of HSBC vary from country to country accounting for cultural differences (Gakovic, and Yardley, 2007). Demographic trends like spurt in young adult population in developing nations are putting strain on the global recruitment market (Barak, 2016). The most common problem identified during R &S is that HR managers are unable to deploy inclusion policies pertaining to ethnicity, class and gender simultaneously (Healy, Kirton and Noon, 2010). One of the global issues observed in the domain of R&S is gender pay gap (Kirton and Greene, 2015).Women often complain that they have to face issues of corporate sexism (Kandola, 2009).HSBC designs its R&S policies addressing these issues. The strategic diversity management theory is relevant to HSBC’s R&S policies as the company strives to hire individuals across various socio-economic backgrounds.
HSBC establishes its project management policy through identification of potential business managers amongst existing talent pool and implementation of development initiatives beyond the senior management level. The UK labour market is very diverse, as it constitutes of women, ethnic minority groups, aged and mildly disabled population as well as care-giving employees who can only work part-time (Cornelius, 2002). HSBC conducts its R&S programs throughout the talent pool of these communities. The company implements equal opportunity laws that protect women against discrimination based on their impending maternity (Gatrell, and Swan, 2008).The company designs its R&S policies monitoring the various trends of labour participation exhibited by different social groups (Kumra, and Manfredi, 2012). UK legislations necessitate implementation of anti-discrimination policies at the workplace and HSBC integrates its diversity and inclusion programs into its R &S process accordingly (Greene, and Kirton, 2010).
Conclusion and Recommendation
The company has designed its people management practices according to the behaviour of its employees. HSBC should focus on the individual weaknesses of the employees and shape relevant training programs. Through performance management and reward systems, HSBC should attempt to address grievances of its employees. Recruitment of women and different ethnic groups should be increased by the company. It is also recommended that the HSBC increases its global talent acquisition.
- Barak, M.E.M., 2016. Managing diversity: Toward a globally inclusive workplace. USA: Sage Publications.
- Bloom, N. and Van Reenen, J., 2007. Measuring and explaining management practices across firms and countries. The Quarterly Journal of Economics, 122(4), pp.1351-1408.
- Cornelius, N., 2002. Building workplace equality: Ethics, diversity and inclusion. USA: Cengage Learning EMEA
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- Gatrell, C. and Swan, E., 2008. Gender and diversity in management: a concise introduction. USA: Sage.
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- Healy, G., Kirton, G. and Noon, M. eds., 2010. Equality, inequalities and diversity: Contemporary challenges and strategies.UK: Palgrave Macmillan.
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- Kumra, S. and Manfredi, S., 2012. Managing equality and diversity: theory and practice. UK: Oxford University Press.
Offered for reference purposes only.