ROYAL BANK OF SCOTLAND

Royal Bank of Scotland Human Resource Management





Royal Bank of Scotland Human Resource Management

Introduction

The purpose of this paper is to enlighten and explore the significance of human resource management in Royal Scotland Bank (RBS). This paper aims to enlighten different perspectives of human resource management; in addition, the paper discusses that the human resource management is concerned with employee management in RBS. Human resource management is a dynamic field, evolving quickly from its early focus on understanding the patterns of impact of HRM practices and systems on performance to embracing the mediating mechanisms. At the same time, researchers in this area continue to push the boundaries of what we know and are engaging in exciting research that delves deeper into the mediating mechanisms of how HRM systems work. The definition of HRM reinforces the notion that HRM practices create valuable resources within the firm that are capable of producing competitive advantage through people. Human resources management (HRM) is a term that encapsulates the approach and process of managing people who work for an organization. This work can be either paid or undertaken in a voluntary capacity. HRM frames all people-related matters within an organization, including planning for new appointments, recruitment and selection, induction, performance management, reward and incentive structures, training and development, and when and how to let people go. Effective HRM is a vital component in the operation and success of any sport organization. Typically only larger organizations, those with more than 100 employees or volunteers, will have a specific human resources staff member or functional area. Therefore, the direct line manager will be responsible for the functions of HRM. Indeed, more than two decades of research has accumulated a vast body of knowledge which suggests that HRM practices that impact the motivation, knowledge, skills, and behaviours of employees lead to better employee, organizational, and financial outcomes.

The current role for human resource professionals in RBS is that of a partner in helping the organization attain its business strategy. Without effective human resource management, the company cannot accomplish high-level goals such as competing globally, grabbing market share, and being innovative. A way HRM contributes to business strategy is by helping to build high-performance work practices. Integration of 92 studies found that organizations could increase their performance 20 percent by implementing high-performance work practices. HR planning, which is an important component of HR management, HR management integrates the overall plan of RBS. Most organizations of medium and large have a plan that guides so that they can fully realize their mission (Groysberg & Sherman, 2007, 1-34).

Discussion

RBS routinely develop investment plans to enable them to achieve their goals, and it is equally important though less common to develop plans about the staff. There are many reasons due to which Human Resource Management is critical towards the success of RBS and for meeting its goals and objectives. RBS exert lots of efforts in order to meet the needs of the employees to create a supportive atmosphere for increasing their ...