The 21st-century business arena is characterized by high competition and tumultuous market trends. And yet, to remain relevant and sustainable in a highly competitive free market economy, business is expected to craft an edge in whichever niche it operates. At this point, employees and how you manage them becomes critical towards realizing organizational objectives. Human resource management (HRM) has the obligation to plan, execute, hire and take control of the staffing process. Moreover, the HRM is also required to ensure professional growth of employees and company development schemes for a firm. However, the most critical responsibility of the HRM is to enhance the company 's output, boost employees ' efficacy, and assure them favorable
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As businesses expand, the management often hires employees to assume various everyday tasks like production, accounting, client services and sales. While individual organizations pay employees a basic salary, others offer handouts that escalate or de-escalate employee remuneration based on performance. Each remuneration strategy has its pros and cons. This paper examines the human resource management woes at Hana Bank while making proposals for the best action and implementation plan to mitigate the problem. In the end, various recommendations are …show more content…
Implicitly, Hana Bank should ensure that its employees have significant obligation tied to the strategic course of the company. Moreover, Hana Bank 's top management has the responsibility to update employees on corporate issues by way of internal communication. Communication channels such as e-mail updates as well as newsletters serve as efficient platforms for imparting corporate values and building team spirit. Operational HR Planning: Hana Bank should implement HR management practices to underpin management as well as employees in accomplishing their everyday objectives. Human resource management at Hana Bank should determine needed employees to offer services during a given period. Moreover, they should also determine how performance will be supervised, by ensuring well organized human resource management practices to respond to such demands. Ultimately, the operational schedule should assure appropriate employees support (Boselie &Paauwe, 2005). Employee Benefits: Hana Bank should attach a high premium on employees and also wake up to the realization that better remunerations lead to satisfied employees. Again, Hana Bank ought to understand that high employee turnover is a function of poor remunerations. The bank should, therefore, understand that while it invests so much when it comes hiring the best
As businesses expand, the management often hires employees to assume various everyday tasks like production, accounting, client services and sales. While individual organizations pay employees a basic salary, others offer handouts that escalate or de-escalate employee remuneration based on performance. Each remuneration strategy has its pros and cons. This paper examines the human resource management woes at Hana Bank while making proposals for the best action and implementation plan to mitigate the problem. In the end, various recommendations are …show more content…
Implicitly, Hana Bank should ensure that its employees have significant obligation tied to the strategic course of the company. Moreover, Hana Bank 's top management has the responsibility to update employees on corporate issues by way of internal communication. Communication channels such as e-mail updates as well as newsletters serve as efficient platforms for imparting corporate values and building team spirit. Operational HR Planning: Hana Bank should implement HR management practices to underpin management as well as employees in accomplishing their everyday objectives. Human resource management at Hana Bank should determine needed employees to offer services during a given period. Moreover, they should also determine how performance will be supervised, by ensuring well organized human resource management practices to respond to such demands. Ultimately, the operational schedule should assure appropriate employees support (Boselie &Paauwe, 2005). Employee Benefits: Hana Bank should attach a high premium on employees and also wake up to the realization that better remunerations lead to satisfied employees. Again, Hana Bank ought to understand that high employee turnover is a function of poor remunerations. The bank should, therefore, understand that while it invests so much when it comes hiring the best