Human Resource Management Fights for Equality

Question: Discuss about the Report for Human Resource Management of Fights for Equality. Answer: 1: Stone in his hypothesis has integrated various environmental impacts in an organization and entailed over culture and structure over the firm. Stone formulated diverse trends about human resource management of an organization. The threefold trend as proposed by Stone is explained below. One of the trends is the rate of change in technology: Organizations in present context are evaluating human resources and labor costs in the line with available technologies which is based on the theory that products and services can be delivered more efficiently through the means of the best possible arrangement of people, resource, and equipment increasing productivity. In the given context the organization selected is DBS Bank. Instead of interacting to a customer care representative of DBS Bank to talk through about account management, one may interact with an automated system using the internet or for that matter ATM or automate teller machine (Benn et al. 2015). The initiative is formulated to manage any challenges that a customer may encounter in DBS Bank. With such automated system in place, DBS Bank can cut down labor costs by reducing the number of customer care personnel. Since more people would utilize automated services of the organization, there is less need for supervision by the bank authorities. As a result, clients wou ld pay less in service charges and may avail more value for their money. With the development and evolution of these services, clients could be more satisfied even though they are not engaging with any particular person in DBS Bank. The HRM theorists participate in the development and effecting of various technological trends to access the various technological services of the automated interface. In present times, the HR is assisting to evaluate the role of organizational structure and human resources with the aim of offering more premium services meeting the customer expectation and quality. DBS Bank relies on the internet for performing convenient, fast and efficient recruitment process of their core personnel (Stone 2013). Flexibility as a response to changing business environment: Being responsive and innovative to varying business environments calls for great flexibility. More organizations are focusing on core competencies that are what they do best in keeping with the essence of the business. One trend as observed in DBS Bank is hiring of temporary resources through employment agencies like Manpower etc. These firms provide skilled and unskilled personnel on a need basis and take care of HR functions like hiring, assessment of employees to name a few (Sanchez-Apellaniz and Triguero-Snchez 2016). This tectonic shift of HR policies in DBS Bank supports the theory of Stone that HR policies should be lean in structure and must be reactive to the changing environment in the banking sector. Earlier a survey pointed out that most employers outsource and intend to expand HR outsourcing which includes training, development, global mobility and payroll. Increase in financial litigation: In addition to growing concerns over various productivity changes in technology, and increase in the global competition another trend that deserves special mention is a proliferation of litigation relating to HR aspects. The violation of labor laws is prevalent in the banking sector, and DBS Bank is susceptible to the risk (Stone 2013). The organization in consideration exercises Federal Laws of the State which provides discrimination concerning gender, race, color and national origin. The bank is bound by a host of federal laws and regulation which impacts the overall types of personnel decisions. Moreover, Disabilities Act was passed to promote equal employment opportunities for disabled Singaporeans. Nowadays, the HR management of the firm should be well versed with OSHA, EEOC, ADA and other jargons which come with regulatory effect (dbs.com.sg 2016). 2: Maslow promulgates Need Hierarchy Theory which mentions that all human beings have a diverse range of universal needs that are satisfied in a hierarchal manner. This hypothesis at creation was not mainly focused on work motivation but also in other aspects that Maslow later became interested in. He propounds that the source of motivation is a special need. The needs have identical characteristics for resources in general and others based on genetics. This theory argues that when one need is fulfilled it would no longer influence the individual, and another need would replace the former (Chauhan et al. 2014). In the given context, a better rewarding structure is something that DBS Bank may mull over as a motivating factor in keeping with staff recognition. The force which moves or alters the organizational performance indicates motivation of staffs. On the other hand, the essential factor that differentiates a firm from another is human resources or human capital, to be precise. Th e poor reward system along with motivation practices are frequently succumbed resulting into the high turnover rate and may not be regarded as a positive result since existing work processes may be disrupted, and the same is likely to have a detrimental effect on the performance of DBS Bank. On the other hand, intricacy and individuality may be used for categorizing motivation amongst DBS Bank resources. It is imperative for the management and think-tank should formulate policies that are out of the box and should tackle motivation regarding individual resources. The interrelation amongst performance and motivation is somewhat unavoidable which results in bettering of staff performance due to motivation. Motivation may be either extrinsic or intrinsic and happiness, satisfaction, and sense of achievement come under intrinsic while extrinsic motivation entails over penalty and accomplishment goals (Needles Jr et al. 2016). The flipside of motivation is considered as demoralization. The demoralization is convenient to succumb to and may have the viral effect over various staffs. The firm in consideration, DBS Bank should delve in continuous motivation and reward performing staffs which could be an effective method to retain them (dbs.com.sg 2016). It is crucial that motivation is a must for upholding the optimum level of resourcefulness amongst staffs. This is important for sustaining the premium quality of performance to inspire excellent services by the resources of DBS Bank. Maslows model in some cases is culture specific. DBS Bank in Singapore may follow one set of principle whereas; the bank situated in other parts of the world experience a different culture (Tervartanyan and Kleiner 2015). 3: DBS is surely one of the leading financial services in Singapore, but however, to retain its organizational success, and to deliver high quality customer support, the organization must adopt the effective HR policies. Effective HR policies will help DBS keep its employees content with the organization, and as such it will increase employee productivity. While speaking of effective HR policy, the importance of incentives cannot be understated. An incentive is used for the purpose of motivating and encouraging the employees to work more with greater dedication in future. DBS bank already offers incentives to its employees, for rewarding their extra efforts at the end of each month. However, the introduction of a few new incentive schemes can be highly beneficial (Snell et al. 2015). The merit-based incentive scheme is a very profitable scheme that can be introduced at DBS Bank. It should be remembered, that each organization succeeds with the help of team effort, yet there are employees who perform slightly better than the others. These employees always expect some form of recognition and rewards for the extra hard work and efforts they have invested for a specific project. Hence, it is important to reward these employees by offering them financial incentives at the end of each month. These monthly merit-based reward systems will help the employees understand their vital importance in the organization, which in turn will help in increasing their loyalty towards the organization. The employees who consistently perform well, if left unrewarded might lose interest to work further and the loss of these employees will bring about a potential loss to the organization. Hence, merit-based incentive scheme will help in retaining the employees on the one hand, while incre asing the competition among the employees on the other hand (Doherty 2015). Profit sharing incentive scheme is also an interesting scheme that can be employed by DBS bank. Under this scheme, the management authority must create an arrangement so that the annual profit can be shared between the employer and the employee. This will help the employees feel that their hard work, as well as labor, has a direct impact on the success of the organization. DBS bank can ensure greater employee satisfaction as well as employee retention by rewarding them with a part of the annual profit. It does not matter how much less the amount is, but the profit sharing scheme will never fail to make the employees feel valued (Larkin and Leider 2012). Apart from offering financial incentives, DBS bank must also offer other forms of incentives to the employees. Holiday sponsorship is an example of an attractive incentive program whereby an employee is performing the best throughout the year, will be offered the opportunity of visiting a foreign location, for three days two nights, absolutely at free of cost. This will not only help in recognizing the deserving candidate for his skills and expertise but will also help in motivating other employees to perform equally well (Umikalsom 2013). The Insurance scheme is a very rare yet an important incentive scheme whereby the DBS bank will offer health or life insurance to the employees. It is to be noted that as a result of the implementation of this scheme, the employees working at DBS bank will feel more secure and resultantly they will not think of switching to other organizations. This will help in increasing the productivity as well as the efficiency rate of the employees. The insura nce scheme is an important incentive scheme as it rightly upholds the belief that the employee productivity and loyalty increases by providing them long-term benefits, such as insurance schemes (Kuvaas et al. 2015). 4: The working environment of resources is not static, and greater emphasis is given on career planning and performance appraisal. The following points elucidate the given proposition. Retention and attracting talent: At DBS Bank the management aims to create a structure wherein people may have an opportunity to learn and grow thereby making a difference at work individually. By nurturing and grooming people, the firm can retain and engage with them well. DBS Bank observes the philosophy of growing ones timber. This means that the firm is looking to attract the best talent from college freshmen to senior positions across the entire region. The employees would be motivated to commend DBS as a potential and prospective employer which resulted in acquiring qualified resources accounting nearly forty percent of the vacancies through internal referrals (Taormina and Gao 2013). People engagement: DBS Bank offers various avenues for resources and employees to engage in a two-fold communication. This includes customary townhalls at the headquarters and also at division levels (dbs.com.sg 2016). This forum facilitates various employees to decipher the bigger larger picture within the organization and how they could contribute to achieving the desired standards. The feedback received from these platforms or forums helps the top-brass of the firm to formulate initiatives and practices in keeping with employee needs and concerns. Additionally, the firm maintains an intranet domain for the employees which permit them to engage in a one-on-one conversation with the CEO (Lăzăroiu 2015). DBS Bank boasts of employees hailing from the region and across the world. Gender diversity is something that the firm strictly abides by. Nearly fifty-eight percent of the workforce accounts to be women and as many as nineteen leaders are women. Talent acquisition programs: The senior business leaders of DBS Bank are committed to putting up a strong leadership culture at DBS Bank and thereby take an active part in nurturing of talent and development of future leaders. Various new programs have been initiated to spruce new aspirants willing to excel in verticals like customer service division, retail banking, and others. The leadership programs are aimed to build new leaders who are expected to be in the system for a substantial period (Naidu and Chand 2015). As an integral part of nurturing of talent from within the ranks of DBS Bank, the firm has maintained internal mobility program since 2010. The staffers are encouraged to leverage skills and opportunities presented by the initiative of the bank. The resources who assume senior ranks and positions in the organization, for instance, Assistant VP may seek to be designated in a new role with a short period notice. Also the firm caters to the senior employees needs that have high potential to be rotated in different domains of the firm. The rigorous leadership management process in DBS Bank helps to identify the potential leaders at all levels of DBS Bank. The organization using adopting true and fair performance appraisal system tops the list of trusted employers amongst prospective resources as well as existing workforce in DBS Bank (dbs.com.sg 2016). 5: Job enlargement is necessary if DBS bank has to achieve organizational success in a short period. By introducing job enlargement, DBS intends to increase the scope of the job, so that each employee is assigned to a wide range of duties and responsibilities. However, this horizontal expansion of job activities may not be accepted and be welcome by the employees during the initial phase. As a result, the employees will start resisting to the job enlargement program (Saleem et al. 2012). The first and foremost resistance will come from the employees on the ground of decreasing rate of job satisfaction. The employees when confronted with a variety of tasks, to be completed in a short span of time, they may complain that they are unable to complete each task with 100% accuracy. The diversity of tasks to be performed may make an employee inefficient and as a result, he may start feeling unproductive. Next, the employees may refuse to perform multiple tasks, as they may complain that the y are overburdened with multiple tasks. The overload may reduce their productivity, and at the beginning, being inexperienced in other fields of work, they may claim that they are unable to complete works where they do not possess any specialization (Zareen et al. 2013). Again, the employees may also resist to the proposal of job enlargement as they may fear that it will lead to unjustified termination of employees. In case a single employee is entrusted with too many tasks and responsibilities, other employees may lose their importance in the organization. Those who do not possess a versatile skill, may get fired, or at least may fear about their service being terminated. Besides, the employees may also object to this system, as they may feel that because of the diversity of tasks to be performed, their work, efficiency and performance level may not be properly evaluated. The employees under the enlargement job plan may be asked to do work that is outside his job description. As such, the employees may feel that they will be asked to do a variety of tasks, though their performance will be reviewed and recognized only by the task he is assigned to do, as per his job description. As a result, they may create a lot of confusion, and may lose enthusiasm in working more productively for the organization (Zabel et al. 2015). Reference list Benn, S., Teo, S.T. and Martin, A., 2015. Employee participation and engagement in working for the environment. Personnel Review, 44(4), pp.492-510. Chauhan, A., Goel, M. and Arora, R.G., 2014. A review on factors influencing employee motivation. EXCEL International Journal of Multidisciplinary Management Studies, 4(2), pp.128-143. dbs.com.sg, 2016. [online] www.dbs.com.sg. Available at: https://www.dbs.com.sg/index/default.page [Accessed 29 Aug. 2016]. Doherty, R.B., 2015. Goodbye, sustainable growth ratehello, merit-based incentive payment system. Annals of internal medicine, 163(2), pp.138-139. 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