Internal Code: IAH155
This paper discusses the human resource management and the importance of human resource management in an organization. The Australia’s biggest bank Commonwealth Bank of Australia faces a significant issue that is of employee’s relation with the bank. This paper identifies one of the significance issue of human resource management that is employee’s relation. Therefore, the paper discusses in detail the employee’s relation with the help of journal articles and academic research. Further, the paper also discusses the best human resource management practice in the bank industry. Thus, the paper provides a detailed analysis of employee’s relation with the human resource management.
According to the research by Armstrong and Taylor (2017HRM can be explained as a procedure of managing employees of the company using human approach. HR perspective to manpower allows the manager to see employees as an integral resource (Armstrong & Taylor, 2017). It is an approach through which company can use the manpower not for the advantage of the company but also for expansion, growth and satisfaction of employees. Hence, HRM is a system that aims on the development of human resources and efficient management of employees so that employees can experience human dignity in their workplace. (Cross & Carbery, 2013). Further, several researches emphasis on the importance of Human resource management in an organization. According to research, the HR is an important part of the organization. The HR is important for several reasons such as HR monitors the culture. (Tullar, 1991). Secondly, HR ismainly responsible for he hiring the employees and is also important as it gives training, selection, monitoring, scheduling help, leadership, planning procedure and conduct interview (Zafar, 2013). HR is also important for the company as it recommends salaries and creates compensation plan. They offer guidance to managers as they keep the salary in the company. HR is further important for the company as it is responsible and forming strategies for employees and company that leads to achievement of the company’s strategic objectives. So if the company is altering directions, creating new products, altering mission, vision and goals, HR must assist the path with employee’s procedure and programs. ("Human Resource Management", 2015).
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