Human Resource Management Of Kiwibank Limited †Free Samples

Question: Discuss about the Human Resource Management Of Kiwibank Limited. Answer: Introduction Kiwibank Limited is engaged in rendering banking services through its post offices in New Zealand. It is a subsidiary company of New Zealand Post Limited, Accident Compensation Corporation and the New Zealand Superannuation. It is a government based organization and it renders its services under the control of New Zealand government. Currently, the organization has more than 2500 employees and they all have gained adequate training in relevance to resolving the queries of banks customers. The organization was founded in 2001 by the New Zealand Post and Susan Macken is the current Chairperson of Board of Directors. Its parent company i.e. New Zealand Post was founded in 1867 and in 1987, it was separated in order to build a separate company as PostBank. Their core business activities are business banking, personal banking, other wealth-related services and the KiwiSaver. KiwiSaver is the unique type of savings scheme launched in 2007. The primary motive of this scheme is to provide re tirement benefits to the New Zealand people. Strategic human resource management of Kiwibank is unique and effective enough to attract, retain, reward the employees to become the core part of the organization so as to enhance its performance in the banking and the financial sector of New Zealand. Human resource management plays crucial role in maintaining and improvising the efficiency of the organization. Under this department, crucial decisions such as appointment of the right candidates with appropriate skills and knowledge, providing them training and the counselling session in relevance with the methods used by the organization to perform their functionalities, etc. are being included. As banking and finance is a part of the typical service sector, thus, customer satisfaction is considered as the key aspect for the Kiwibank for enhancing the performance of the organization. With the help of effective strategic human resource management, Kiwibank managed to win the award of Bank of the Year in 2009 and 2010. Along with the bank of the year award, they have won various other awards which showcase the ability of the Kiwibank in terms of customer satiation and employee satisfaction. Current Human Resources policies Being a part of the service sector, organizational management has adopted the strategies and the techniques for enhancing the market image of the organization. In order to move towards the success, organization needs to attract the customers to make investments in the bank. To attract the customers towards the bank, they have used a combination of unique as well as common human resource managements strategies. Human Resource management is the process to be performed by the top level management of the organization and it generally includes the identification of the tasks which needs to be performed for attaining the organizational goals and the objectives. Apart from the identification of the task, it also includes the allocation of the tasks to the right candidate in order to attain the organizational goals and the objectives (Abdi Aulakh, 2012). Following are the certain crucial aspects of the human resource managements policies of Kiwibank: Recruitment and selection: This is the procedure which is performed by every organization for performing the activities of the Kiwibank Limited. It includes providing adequate advice in relation to making investments, explaining the benefits of available schemes with the bank, etc. To perform these functionalities, organization needs to appoint the candidates with efficient patience skills. Short tempered and the impatience candidates will not be able to perform the duties such as explaining the scheme, their benefits, resolving and answering the customers queries, etc. Thus, recruitment and selection of the candidates for performing the duties of the organization are done on above-discussed factors (Absar, 2012). Talent: Before appointing any candidate for performing the functionalities of the organization, applied candidates abilities are evaluated in relevance with the activities needs to be performed for the organization. After selecting the candidate, more opportunities arise such as providing appropriate training and counselling sessions in order to teach them the methods and the strategies used by the organization. This will help the employees to gain knowledge as per the organizational aspect and this will help them to perform in the same manner to attain the goals and the objectives (Ash, Hodge Connell, 2013). Performance Standards: These are the factors developed by the top level management and are practiced by the human resource management for evaluating the performance expected with the performance attained by the employees. If large gap found in the performance attained and the performance expected then relevant factors micro as well as macro environmental factors are ascertained to analyse the reason for the gap. Health and Safety: This is the crucial factor for managing the existing as well as newly appointed employees within the organization in an effective manner. This policy describes the principles developed and implemented within the workplace for developing the healthy and safe workplace for them. This will influence them to work with their efficiency as well as it also builds positive image for the organization. As per this scenario, Kiwibank is engaged in the banking and the financial activities and in this field, advanced security measures for keeping the investments of the customers safe as well as to secure the health of the employees. Due to lack of health and safety measures, it could create negative impact on the performance of the organization which will lead to reduction in the goodwill of the organization. Healthy Work Environment Healthy work environment influences the skilled and talented candidates to apply for the job opportunities. This will help the organization to select the most deserving candidate for the vacant position in the workplace. To develop and maintain the healthy workplace for the employees, the following are crucial stakeholders which play vital role: Employer In Kiwibank Limited, Susan Macken will act as the employer and he is the person responsible for providing an effective and safe workplace for the organization. Providing safe workplace is expense for an organization but it also enhances the efficiency of the organization (Jonas, 2010). Equal opportunities need to be given to every employee in order to boost up their career. Task allocation should be done on the basis of knowledge and expertise area of the individual in order to attain the desired goals and the objectives. The employer has the right to ask the employees to sign the contract in terms of non-sharing of the important and secret data of the organization outside of the organization. If employee caught to do so, then employer can take appropriate and relevant legal actions against the employee. Employee Policies developed by the management needs to be considered and followed by the employees for avoiding the chances of any type of glitch. Terms and conditions given in the agreement while joining the organization need to be considered and any irrelevant activity performed by the employee could lead to negative outcomes (Hutchinson Purcell, 2010). They have the right to get a safe, secure as well as healthy workplace. Employees should feel comfortable as well as their queries need to be resolved at the earliest in order to enhance the employee satisfaction. Government Government needs to consider all those policies which are built for developing a safe, secure as well as healthy workplace. Thus, they need to identify time to time by reviewing the condition of the workplace, measures are taken to make the environment safe, etc. (Heckhausen, Wrosch Schulz, 2010). Every organization needs to follow and consider all relevant policies developed by the government. Performing the functionalities of the organization without getting registered under government as well as without considering the policies could generate various negative outcomes for the organization. As per the equal opportunity act, government authorities need to consider that every employee should get the equal opportunity to grow and prosper his career (Gormley, Colella Shell, 2012). Strategic Workforce Planning Strategic workforce planning is the procedure under which all the methods, principles and the tools are available to accomplish the tasks. Quality is very important aspect for the Kiwibank because rendering qualitative services will influence the customers to make more investments. Below are certainly important elements of the strategic workforce planning those are also included in the functionalities of the Kiwibank Limited: Staffing: Under the strategic workforce planning process, staffing is the key aspect which includes the selection of the right candidate at the right place. In terms of the Kiwibank Limited, for various banking and finance related activities, qualified, skilled and knowledgeable candidates needs to be appointed for the accomplishment of the desired goals and the objectives. While performing this functionality, organizational human resource management needs to consider all the activities in an adequate manner otherwise, it may lead to generate negative outcomes such as disputes between the employees (Fudge, McCrystal Sankaran, 2012). Work System Design: This procedure involves the selection of the available techniques and the resources with the organization in order to perform the functionalities. Kiwibank Limiteds management needs to ascertain the all available resources as well as the techniques for performing the banking activities in an appropriate manner. This will lead to generating positive as well as effective results for the organization (Freedland Kountouris, 2011). Irrelevant utilisation or distribution of the available techniques and the resources may lead to generate negative results which could destroy the organizational goodwill in the market. Learning Development: This process of strategic workforce planning helps the organization to attain its desired goals within the reasonable period of time. This process improves the employees efficiency through reviewing their past performances. With the help of learning and development functionality, organization could enhance the skills and the knowledge in relevance with the accomplishment of the tasks (Flamholtz, 2012). Petty mistake or irrelevant usage of the training and the development procedure could lead to unexpected results which may direct the organization into negative aspect as well as the negative impact will be imposed on the performance of the organization (Elnaga Imran, 2013). Performance Management: This is the procedure under which the performance indicators set up by the management of the organization are used for evaluating the performance attained by the employees. For instance, Kiwibanks human resource management sets the targets in order to gain the particular amount of investments and for attaining the same performance, performance indicators will be used (Dewhurst, Pettigrew Srinivasan, 2012). Without considering the performance indicators by the employees may lead to inviting various glitches within the organization, while it will also affect the goodwill of the organization in the negative manner (DeTienne, 2010). Compensation Management: This process under the strategic workforce planning defines that the employees of the organization should be treated and awarded with appropriate and reasonable compensation in the situation where employees get injured or hurt during performing the functionalities of the organization. Providing appropriate compensation will build the positive image for the organization in the employee who gets the compensation as well as in the other employees also (De Jong Elfring, 2010). In the absence of the providing compensation to the injured employees within the workplace may lead to decrease in the goodwill the organization (De Chernatony, 2010). ormance of the strategic workforce planning For enhancing the performance of the strategic workforce planning, Kiwibank has conducted the market research activities in order to identify the most appropriate techniques in consideration with the external environment. This will help them to generate more opportunities to attain their desired goals and the objectives developed by the management. Following recommendations are being suggested to the Kiwibank Limited in order to enhance the efficiency of their strategic workforce planning: Staffing: For improving the efficiency of the staffing process of the strategic workforce planning, it has been recommended that candidates with appropriate knowledge and skills as required by the organization should be appointed. Appointment of the experienced candidates from the same field may also be found at the positive strategy for the organization. Kiwibank could also use the promotional and the advertisement strategies for inviting a number of candidates for the purpose of the recruitment and the selection. This will generate various opportunities for the organization in order to fulfil the requirement with the most eligible candidate (Adgei?Frimpong, et. al., 2014). Work System Design: For enhancing this part of the strategic workforce planning, Kiwibank needs to ascertain the external resources and techniques for performing the organizational performance. This will help the organization to accomplish its targets and the goals in an appropriate manner (Rouse, et. al., 2016). Learning and Development: It has been recommended that learning and development programs efficiency could be improved with the help of adaptation of the innovative and trending strategies. This will help the employees to gain the knowledge in relevance with the performance of the organizational activities which will generate positive results for the organization (Mayes, 2014). Performance management: To enhance the efficiency of the performance management organization needs to adopt certain strategies in relevance to improving the key performance indicators. With the help of improvised key performance indicators, organization will be able to ascertain more opportunities in order to attain the goals and the objectives of the organization (Riasi, 2015). Compensation Management: This is the procedure which should include the advanced schemes in relation to the compensating the injured employees within workplace and it will develop the positive image for the organization (Kelsey, 2015). Development process Tools and techniques are necessary to gain the competitive advantage in the banking and the financial sector. Following are those tools which could help the organization to select, retain and attract the employees within the workplace: Skills and knowledge: These are the vital elements which play crucial role in enhancing the organizational performance. This also helps the organization develop its human resource management through which effective management process could be developed. In order to build the opportunities for the organization to gain competitive advantage, skillful and the talented employees from the same field as of organization should be appointed. Chances of opportunities to expand their business in the global market will also be enhanced (Danish Usman, 2010). Talent Management: This process helps the existing as well as newly appointed candidates to enhance their efficiencies for performing the banking activities in an advanced manner. With the help of advanced talent and management tool, Kiwibank will be able to attain its desired goals and the objectives in the target market. Effective Leadership: With the help of effective leadership process, newly appointed employees will get the appropriate guidance and the best relevant method in order to accomplish the tasks. This also teaches them the benefit of coordination and team which acts as the most effective measures in terms of development tools (Cabellero Walker, 2010). Principles of Treaty of Waitangi In terms of performing the business activities in the New Zealand market, every organization needs to ascertain these principles for attaining their desired goals and the objectives in an appropriate manner: Reciprocity: Under this principle, Maori people of New Zealand have the right to protect their interest, lands, etc. This was built when British Crown overruled the New Zealand but their principles and the Maori peoples principles; laws were kept aside for protecting them from the exploitation and other unethical activities. Kiwibank needs to consider this principle while appointing the candidates from Maori community or purchasing the land in the Maori communitys area (Brewster Hegewisch, 2017). Partnership: In terms of expansion of the international firms in the New Zealand, Maori firms have the right to get into the partnership in order to save their interests as well as they should be treated equally in relevance with the other communities people treatment. Active Protection: Under this principle, British crown promises the Maori people to protect their rights of partnership, reciprocity as well as of autonomy. Thus, while performing the duties of human resource management in New Zealand, Kiwibank needs to consider these principles as their primary policies and the rules (Boxall Purcell, 2011). Autonomy: All Maori people get autonomy from the British crown under which all the rules, laws and political systems will be allowed by the Maori people. British crown will never interfere with the independence of the Maori people and the same needs to be followed by the Kiwibank for serving the Maori people in an adequate manner in New Zealand. Equal Treatment: Equal treatment should be given to the Maori people and the other castes people. This will improve the efficiency of the human resource management department of the Kiwibank Limited (Bilgehan Ozturk, 2011). Recommendations Treaty of Waitangi principles was built to protect the Maori people from the British Crowns rules and the regulations. In order to expand the business in the New Zealands market, every organization should adopt these principles in order to attain their desired goals and the objectives in relevance with the effective human resource management. While these principles were built in the traditional times but these are necessary to be adopted as well as practiced in the daily business activities for performing the organizational activities in appropriate manner (Berman, et. al., 2012). Summary Human resource management and the strategic human resource management have crucial roles in enhancing the organizational performance in the dynamic business environment. In terms of the Kiwibank Limited which is engaged in rendering various services in relation to the banking facilities have developed the most unique as well as effective human resource management. It has the capability to manage all types of situations in the business environment and along with the handling capacity; it is also capable enough to gain appropriate competitive advantage in the banking sector with the target market. The HRM of the Kiwibank is effective enough through which they could also set up their effective position in the international banking industry. Thus, they should be performed in the same manner with adaptation of strategies and the techniques as per the changing trends. Conclusion From the aforesaid information, it can be concluded that human resource management of Kiwibank Limited has the potential to gain vast opportunities in relevance to enhancing the efficiency of the organization. Current policies and rules used by the HRM department of Kiwibank are effective enough to manage all the functionalities, requirements of the organization. As well as the recommendations provided for improving the effectiveness of the strategies of the human resource management have also the capability to generate more opportunities in relevance with expansion of the business in the global banking industry. References Abdi, M., Aulakh, P. S. (2012). Do country-level institutional frameworks and interfirm governance arrangements substitute or complement in international business relationships?.Journal of International Business Studies, 477-497. Absar, M. M. N. (2012). 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