Human Resource Strategy in Banking Industry

The Role of Human Resource in Banking Industry

The existence of a human resources department is vital to overall productivity and efficiency of the strong workforce in any thriving company. In most professional organizations, the role of the human resources department is not sidelined or eclipsed by other departments. In fact, good human resources can be one of the most valued and respected departments in an organization; their job is people, and people are the company’s most important asset.

One of the major roles of a Human Resource Department in a successful business involves a lot of observation and analysis from behind the scenes. The intelligence of the human resource staffs involves a compilation of complex data and metrics that follows the performance of individual employees. Their specific job is to make the workforce competent is a vital task. The sensitive nature of human relations and the work of human resource will adequately needed in making the management’s tough decisions. And the essential part is keeping a secret behind the close door meetings of who is going to let go, who is going to promote and who is going to hire.

Human Resource Strategy in Banking Industry

The Human Resource is the only department that can measure the ability of an employee before deploying him into the actual work. The strategy of human resource manager is very reliable because he, includes the other human resource staffs, are well-trained enough to this kind of job. The human resource manager creates their own strategy depending in the nature of the business that needs them. When the banking sector goes to the human resource management to hire new employees, the first thing that a human resource manager will do is to look for the right specification of the worker that the company needed. After determining the specification and requirements, the strategy in hiring new and fresh employees are the next in the line. In the works of Lawler and Siengthai (1997), they set a strategy that concerns in the Human Resource Strategy in Thailand. As application on their work, the study will present the following strategy that can help for the further study or if possible, actual implementation in one banking institution.

IT in Human Resource

The Human Resource is also updated in the technological change. The technology gives a great help in every business industry. The importance of a technology is being shared in every parts of the organization to promote the accuracy and efficiency. Acquiring a technology that can process the works of the human resource staff can make a difference and can finish the job in less than an hour. But the information system of the human resource department differs in the other field of business industry. And the appropriate process is a good partner in the business industry that includes the human resource department.

Recently, HR-IT has gained significance since most organizations have been using technology to transform HR, to increase HR productivity, to improve employee experience and to maximize the value of the company's most important asset- employees by aligning their skills, activities, and benefits with business objectives and strategies. The process that makes the work of a human resource staff that involves technology is usually covering the business role. These business roles are like Payroll Application, HR Application Outsourcing, Enterprise Learning Management, Portal Implementation/Integration and HR Analytics are key components of the solution set. The use of technology in terms of payroll will secure that every entry are protected and cannot be manipulated. Still, the processes are set from the beginning of its acquisition that usually compacted in a template and uses security code for protection from the outsiders.

Conclusion

To make a business successful, the right selection of right person in right department is one factor that can create a great impact. The Human Resource is the only department that somehow brings the first impression in the attitudes of every applicant. The human resource are fully equipped and armed with a psychological knowledge that can interpret any person’s action and gesture. Through many behavioral exams and series of personal evaluation, the human resource manager can analyze and judge well the applicant. Being a human resource manager is sometimes deceiving. Why? Because most of the human resource department has a good ambience and the attitude of the human resource can affect the other’s moods. The reason is to keep the chain between the employees and the higher management intact and to make an inviting communication.

References:

What’s new in human resources? Human Resources Department: Role within the organization [Online] Available at: http://www.hrvillage.com/human-resources/role.htm [Accessed 13 Aug 20009].

Lawler, J.J. & Siengthai, S., (1997). Human Resource Management and Strategy in the Thai Banking Industry, Research and Practice in Human Resource Managemen. [Online] Available at: http://rphrm.curtin.edu.au/1997/issue1/thai.html [Accessed 13 Aug 2009].

Hexaware Technologies (n.d.). Human Resource Information Technology [Online] Available at: http://www.hexaware.com/new_hr.htm [Accessed 13 Aug 2009].