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The role of HR in the formulation of organisational strategies
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The organization selected for analysis in the semester long human resource management project is Chesapeake Bank (Chesapeake financial services & subsidiaries). The bank currently employs 180 people in various positions senior management to non-management positions. Chesapeake Bank offers a variety of financial services from basic personal checking to business loans. The 11 bank branches are located in the northern neck and middle peninsula of the Chesapeake Bay area while the main office is located in Kilmarnock, VA. Need to include structure and distribution of employees. Dianne Hall and Pat Lewis were the two persons our group chose to interview. Dianne was chosen because she has been a significant part of Chesapeake Bank for the past 30 years and is now Senior Vice President. She is the only woman in Senior Management and has been a huge part of Chesapeake Bank’s success and growth. Pat was chosen because she is the head of the Human Resources Department at Chesapeake Bank. She is very knowledgeable of the processes used there and has been a substantial resource to the bank and its employees. The interview process started by organizing ten interview questions compiled from our entire group. Once this was done, Ashleigh took the initiative to e-mail the questions to both Dianne and Pat. This was the only interview conducted for our case study. Our group chose to use Chesapeake Bank’s employee handbook, annual report, and company website as our organizational sources. We chose these three sources because they give us a better understanding of Chesapeake Bank as a whole. The organizational life cycle of Chesapeake Bank is well into the final elaboration stage. The bank has been in business for quite a long time, and has gone... ... middle of paper ... ...s will be useful in our careers to follow because we have learned that management must stay congruent with the companies HR strategy. As insignificant one decision may sound it does contribute to the bigger picture that the manager may not see. Works Cited Chesapeake Bank. Home. 2011 йил 28-February. 2011 йил 28-February . Chesapeake Financial Shares. Annual Report. Print. Kilmarnock, VA: Chesapeake Financial Shares, 2010. —. Employee Handbook. Print. Chesapeake Financial Shares. Kilmarnock, VA: Chesapeake Financial Shares, 2008. Hall, Dianne (Senior VP). Personal Interview Ashleigh Pritchett. 2011 йил 08-March. Lewis, Patricia (HR Manager). Personal Interview Ashleigh Pritchett. 2011 йил 08-March. Stewart, Greg L. and Kenneth G. Brown. “Human Resource Management.” Human Resource Management. 2nd Ed. Hoboken, NJ: Wiley, 2010. 590.
Prior to Fuller’s transfer, management at the Carson’s location was poorly run using the classical approach. While this approach can be successful, management has to find a good middle ground between caring for the company and caring about their employees. A traditional classical approach recognizes that there are five important factors to running a successful business (Miller, 19). According to text, these factors are planning, organizing, command, coordination and control (Miller, 19-20). These factors can be seen when you look at Third Bank as a whole. In the study, the CEO saw the issues in his company and put a plan together to improve. He had meetings with management, like fuller, to organize a solution. He then commanded all locations
The Royal Bank of Canada, also known as the RBC, is one of Canada’s most recognized banks. The Royal Bank of Canada is also a part of the Canadian “big five” in banking along with, TD, Scotiabank, BMO, and CIBC, who have all earned their spot as a part of the “big five” due to their dominance in the Canadian banking industry (“The Big, n.d). Being in such a position gives the Royal Bank of Canada a relatively large spotlight in the eyes of the media and the consumer. There may have been a time when a corporation’s only goal and purpose was for the pursuit of maximizing profits and to continuously expand and grow, and that this was also the sole measure of their success as an organization. However, it would seem that at this day and age company
RBC Financial Group uses a customer relationship management (CRM) strategy that provides a variety of services for a variety of clients. The strategy allows for individual customers to trust RBC and develop a personal relationship with each and every client. One major factor that allows CRM to operate effectively is the use of technologies and analytics to help classify each client’s financial situation. These customer profitability-based techniques allowed RBC to categorize their clients into A, B, and C groups so that the sales teams could optimize their efforts in catering to these different clients. This strategy holds the following strengths: optimizing sales efforts to different customers, easily accessible electronic sales leads, centralized and standardized financial decisions, and building personalized and sustainable customer relationships. There are a few weaknesses to the system though including the complexity in predicting future positions of companies despite the use of analytics as well as the complexity in creating consistency when using these
We began our interview by asking Mr. Kressel, what are the most important parts of the interviewee’s job? With his response describing that the most important part was just to talk so that the interviewer, Kressel himself, could get to know how the candidate thinks. Most of the questions that are asked help Central Escrow see if they have potential in the company or do not. An example question that they ask is, have you ever faced a problem that you ended up failing in? What was it and were you able to learn from the problem? Hearing the interviewee talk will give Kressel an ideal of how the interviewee thinks. Finding someone with common sense and being a clear thinker may help the candidate to get the job. In the interview, Kressel will be able to find out basic technical information about the candidate and that can help determine if they will be hired or not.
Torrington, D., Hall, L., Stephen, T., and Atkinson, C., 2011. Human resource management. 8ed. Essex: Pearson.
John Bratton, Jeff Gold (2007). Human Resource Management: Theory and Practice. 2nd ed. London: Macmillan press limited. p21.
Byars, L. L. (1997). Human Resource Management. Chicago, IL: The McGraw-Hill Companies, Inc. Mills, D. Q. (1994).
Immediately upon completion of the second interview, the branch man¬ager completed a rating sheet. At this time, he or she forwarded to the general sales manager all materials compiled on the applicant, including the application form, reference letters, rating sheet, and a statement recommending acceptance or rejection of the job candidate. The general sales manager decided whether or not to hire the applicant, then notified the branch sales manager, who, in turn, notified the applicant.
The banking industry in Malaysia consists of only eight commercial banks (Bank Negara Malaysia, 2013), and Public Bank Berhad is ranked third out of all in respect of size of assets, capitalization, and public’s choice (People's Choice for Best Banking Experience, 2013). This business has managed to broaden its wings across Asia after just a few years since its establishment (Teo, 2012). Despite the triumph it has acquired, there is always room for improvement. There are few analyses carried out – Management Analysis, HRM Analysis, and Leadership Analysis – in order to understand the business better. Thus, recommendations of related matters would be made upon the completion of these analyses.
Ubiparipovic, B., & Durkovic, E. (2011). Application of Business In the Banking Industry. Management Information Systems, Vol. 6 (2011), No. 4, , 023-030.
Firstly, CIBC FirstCaribbean International Bank’s goal is to become the number one bank within the Caribbean. Even though the organization offers the lowest interest rates within the banking industry and provides excellent customer service they have not achieved being the leading bank. In addition, the company operates on a centralized organizational structure whereby the loan decisions are made only through Barbados. This process lengthens the turnaround time for an approval as compared to their competitors which results in customer dis-satisfaction and allows customers to switch to its rival. Staff complains about the work load as a result of the redundancy and not being compensated fairly. Furthermore, the organization is not risk averse as compared to their competitors which contributes to the decline in sales and
Beardwell, J & Claydon, T 2007, Human resource management: a contemporary approach, FT/Prentice Hall, Harlow.
Saunders, A., & Cornett, M. M. (2011). Financial institutions management: A risk management approach (7th ed.). New York, NY: McGraw-Hill/Irwin.
With our ever changing technology and the digital age, competition has become fierce. If companies do not keep up with the new technology, the business may not be profitable and could end up suffering severe hardships. I want to know how each department of a business works for the greater good of the corporation. I want to learn how they complement each other to make a company profitable. It is my goal to learn each aspect, starting at the hourly employee though the Chief Executive Officer. This includes production, finance, marketing and sales. It is my hope to have a clear vision of how a corporation becomes and stays successful throughout the years. I want to understand what it takes to make a business successful in today’s world. I want to see how a corporation becomes successful from the ground up.
The bank has another competency in the banking industry i.e. it has broad branch network throughout the country also more than one branch in high productive cities. The customers are provided services at their nearest possible place to confirm customer satisfied.