INFORMATION IN HUMAN RESOURCE IN UK RETAIL BANKING

Information in Human resource in UK retail Banking

Information in Human resource in UK retail Banking

Introduction

Rapid development of science and technology, especially the usage of Internet and computer technology, has brought outstanding changes to our economy, society and culture. Space is no longer any obstacle since earth is more and more like a village. (Gill, 1991, 7-27)We have entered knowledge economic era entirely. In such an era, being confronted with new challenges of knowledge economy, the huge value knowledge has brought to enterprise, and the pressure of enterprise development, process banking and management change, employees or enterprise human resources as knowledge creators and users have now taken the place of equipment and capital, and become the value of enterprise or banks. Enterprise higher class has focused on manpower cost now.

From the perspective of human resource, how to change the visible manpower cost to invisible one is the problem all the enterprise are faced with, for any failure in this change will lead to sunk cost with lower profits, or even disasters to enterprise. It is out of question that manpower cost is the most important cost of many enterprises, especially knowledge industry and service industry, in which manpower cost could cover 70-80% and with a high flexibility. The flexibility is reflected in the job setting of enterprise bank (including staff preparation, job responsibility, man-job matching degree), salary structure, roster schedule, KPI etc. Every tiny item could combine into a huge number. (Boxall, Purcell, 2000, 183-203 )

If the manpower cost flexibility could be adjusted to 5-10%, it may produce 5-10% profits, which is much higher than other cost. Thus, it is very important to enhance human resources management. Rapid development of science and technology has brought a revolution for management work. For human resources management, the past receptive and experienced style will be changed to scientific, professional and technique one. The emergence of her will take human resources management to a new experience. (Mintzberg, 1989)

Human resource management focuses on securing, maintaining, and utilizing an effective work force, which banks cannot survive without. Human resource management involves a variety of activities, which include recruitment, and screening of prospective employees, the study of training needs, preparing human resource forecasts, the development of compensation systems, and an understanding of the laws that effect the performance of these activities. The human resource management function has evolved significantly since the early 1900s. The need to deal with labor unions and the human relations movement has increased the need for competent human resource professionals. (Boxall, Purcell, 2000, 183-203 )

Planning banking human resource needs is a key task for human resource managers. Key strategies for effective human resource management planning are:

·align human resource management strategy with business strategy

·determining priorities

·gaining line management support (Hall)

The banking mission generates the bank's plan, which in turn generates the human resource management plan. The external environment and the internal environment of the bank influence the human resource management ...