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Managing Human Capital - Assignment Human Capital... · PDF file Human capital of the...

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  • MBA

    MODULE ASSIGNMENT: Managing Human Capital

    Student Name Student Registration No. Module Lecturer Module Tutor Date Submitted

    Total Word Count 4028

  • 1 | P a g e

    Managing Human

    Capital ABC Bank

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    Executive Summary

    This report is about how to restructure the Human resource of the ABC Bank in order to best

    fit in the current global market as well as for long term survival in the market.

    Firstly this report explains about the bank’s historical development, current market stage and

    the development of human capital.

    Secondly explains about the current recruitment policy that exist within the bank and using

    appropriate HRD models, how it can be improved and what changes can be done to it in order

    to align with its development process and the environmental variations.

    Next explains about the classical theories of motivation and propose a hybrid theory which

    matches the bank in order to develop its human capital and to motivate them in order to

    provide a better service to both customers and the organization.

    Finally discusses about the challenges that can arise when restructuring the HRD process of

    the bank and some management techniques which can be utilized in order to manage

    concurrent operational changes.

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    Table of Contents

    Executive Summary ................................................................................................................... 2

    List of Tables & Figures ............................................................................................................ 5

    List of Abbreviations ................................................................................................................. 6

    01. Introduction .......................................................................................................................... 7

    2.0 The Organization ................................................................................................................. 7

    2.1 Historical Development of the Company together with its HR practices ......................... 7

    2.2 Company’s Current Market Context ................................................................................. 8

    2.3 Profile of the Company’s Human Capital ........................................................................ 8

    2.4 Current HR practices and the Current HR Model(s) of the Company .............................. 8

    3.0 Recruitment & Selection Practices of the Company ........................................................... 10

    3.1 Critical Analysis of the Recruitment and Selection Practices ........................................ 10

    3.2 Recommendations to Enhance the Recruitment and Selection Practices ...................... 12

    4.0 Human Resource Development (HRD) Practices of the Company ................................ 13

    4.1 Critical Evaluation of the HRD practices of the Company ............................................. 13

    4.1.1 Training ................................................................................................................ 13

    4.1.2 Development ............................................................................................................ 13

    4.1.3 Learning ............................................................................................................... 14

    4.1.4 Career Progression ................................................................................................ 14

    4.2 Recommendations to Enhance the HRD of the Company ............................................. 15

    5.0 Staff Motivation .................................................................................................................. 16

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    5.1 Critical Evaluation of Classical Motivation Theories ..................................................... 16

    5.2 Proposed Hybrid Motivation Theory / Model ................................................................ 18

    06. Change Management within the Company ........................................................................ 19

    6.1 Proposed change to a HR practice or HR policy of the company................................... 19

    6.2 Change Management Process ........................................................................................ 19

    6.3 Critical Analysis of the Possible Challenges .................................................................. 19

    6.4 Recommendations to overcome the challenges .............................................................. 20

    07. Conclusion ......................................................................................................................... 20

    References ................................................................................................................................ 21

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    List of Tables & Figures

    Figure 1 - Human Resource Development............................................................................... 13

    Figure 2 - Maslow’s hierarchy of needs .................................................................................. 16

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    List of Abbreviations

    HR - Human resources

    HRD -Human Resource Development

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    01. Introduction

    ABC Bank is a leading commercial bank in Sri Lanka owned by the government with more

    than 735 branches and more than 8,000 staff. It’s in operation since 1961, under banking act.

    From inception to now it has been the most awarded and leading bank in the country.

    (People's Bank, 2014)

    ABC bank is providing many banking and financial services to its customers like current

    account facilities, loan facilities, pawning, leasing and investment schemes etc. This report is

    about how the human capital of ABC bank can be restructured in order to survive in the

    market space and to survive in the global market, both short and in the long run.

    2.0 The Organization

    2.1 Historical Development of the Company together with its HR practices

    ABC bank started its operations in 1961 and now it is a 54 year old government bank in Sri

    Lanka. Its motto is to be the “Pulse of the People”. Using this motto, the bank has been able

    to catch up a large market space and win customers hearts towards it.

    People bank grows on a daily basis with government recognition while constantly adding

    innovative services and practices to its business to survive in the market.

    The bank today has more than 735 branches and more than 3000 ATM locations in order to

    provide a better and broaden services to its customers. It has AA+ credit rating according to

    the Fitch ratings. (People's Bank, 2014)

    When looking at the recent performance highlights of the bank, ABC bank was able to win

    many awards like ‘Slim brand excellence’ continuously since 2006. Also has won several

    awards in 2014 at the world finance banking award ceremony for being the best banking

    group and the most sustainable bank in Sri Lanka. Currently bank has the largest savings base

    exceeding 318 billion and the profit before tax of 17,231 million in 2014. Bank has recorded

    a 1 trillion balance sheet for the first time of their history.

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    2.2 Company ’s Current Market Context

    Today ABC bank is providing many services like various types of accounts, pawning

    facilities, loan facilities (Guru Setha, pension loans), corporate banking services and also

    foreign exchange facilities etc. (People's Bank, 2014)

    Banking industry is highly competitive in today’s context. All the banks are competing for

    the same customer base and for the same target market. So the banks in the current market are

    introducing various innovative products and services like 365 days banking, 24/7 banking

    services, card less cash, new types of accounts like salary saver etc. which would provide

    more benefits to its clientele and this would lead to target many more customers as well as

    widen their target audience. In order to survive in the current competitive market, ABC bank

    introduced some innovative accounts like Relax, Green banking accounts; Wealth planner

    etc. One reason for its survival in the market is being a government bank. The other

    competitive advantage is that the bank has its loyal staff.

    2.3 Profile of the Company’s Human Capital

    Human capital of the bank is a critical success factor to it, because ABC bank is a service

    providing organization that provides an intangible service. Quality and the advancement of

    the bank’s service depends on its staff performance. Because the level and the extent of

    service that its staff is willing to provide to the customer depends on the attitude and the

    mentality of the staff members which subsequently decides the performance of the bank.

    ABC bank relies on the loyal staff members, therefore it is more consider

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