HR Management: Riyad Bank

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Table of Contents

Introduction
Main Discussion
Recruitment, Selection, Orientation, Enculturation and Work Diversity
Performance Appraisal
Conclusion
List of References

Introduction

For many organizations, human resource management plays a very important role. In essence, human resource management (commonly denoted as HR management) comes in a myriad of ways which, in one way or another, implicatively have an effect on workers, their bosses and the customers.

In this paper, central focus will be on assessing the influence of HR management in the superiority of outcomes in an organization. In doing so, HR management issues related to selection and recruitment, training and development, performance appraisal and employee, among many other issues, will be duly analysed using Riyad bank as our case study.

Main Discussion

Job Analysis and Description

Essentially, different jobs entail different responsibilities from workers and the management as well. According to Boxall and Purcell (2003), companies that do not have good job descriptions and well-defined responsibilities tend to have problems. Riyad bank is an equal employer that focuses on getting the best performance from their employees.

The bank has perfected in its services as it deals with fragile services that could fluctuate in demand if they are not treated carefully. In essence, it has to focus on the services that are offered to their customers in the satisfactory standards to make the customers keep coming back for more of the services. By clearly defining its jobs, Riyad bank has been greatly able to progress and produce viable outcomes.

Recruitment, Selection, Orientation, Enculturation and Work Diversity

Hiring the right employees bears a lasting impact on an organization’s ability to achieve its goals, the working environment in the institution, and the financial costs incurred in hiring and training staff with the appropriate skills. On the other hand, recruiting the wrong staff can lead to the permanent loss of time, money and other important resources (Bratton & Gold, 2007).

Riyad bank strategizes on the selection of top employees who have experience in the banking sector. Employees who are known to have experience in the banking sector are well versatile with the performance of the banks and will give better services (Budhwa & Yaw, 2001).

Similarly, experienced employees in the banking sector could have loyal customers who could move in with him to the bank. This could be an advantage to the bank as it will increase its customer and client level. Also, the selection board is an experienced inclusion of people who have studied and mastered the art of human resource management thus greatly helping the company progress.

Good recruitment and selection practices set a good precedence for availability of good workers thus encouraging good performance in the organization (Kidd et al., 2001). Based on the above reports, it can thus be said that the recruitment and selection exercise at Riyad bank is indeed a rigorous one no wander it has been able to accrue great success in its endeavors.

Performance Appraisal

In general, yet representative terms, performance appraisal refers to a professional way in which businesspeople and project managers assess whether their businesses are viable financially, economically and business-wise. Essentially, performance appraisal can be done on projects of any caliber (small, medium or large projects).

According to Edgar (2005), in spite of the many challenges and limitations faced; performance appraisal has repeatedly been used on different projects by different organizations and led to huge financial benefits. This, probably, is the major reason majority of public and private sector businesses ensure that they conduct appraisal before, during and after engaging in any form of investment.

With the dynamic nature of businesses, several methods have are currently used in performing performance appraisal. However, there are five renowned major types of appraisals namely; payback period, accounting rate of return, internal rate of return, profitability index, and the net present value (also known as the discounted cash flow).

Choosing either of these appraisal methods should be done with extreme caution and under professional guidance so that the most fitting method is selected. In Riyad Bank, there is not much information regarding performance appraisals being done by the company. However, the Bank usually releases periodic financial statements which, is a clear indication that the company values performance appraisal.

Training and Development

Training and development of employees is an essential practice in any employment sector. This is due to the fact that it directly affects the employees in their interaction with the clients. Reports from the Bank indicate that Riyad bank has greatly invested in the training of employees to foster their action in serving clients.

For new employees in the bank, there is a special training that they have to attend to before commencing their work officially. This is an introductory training that is vital in shaping up an individual in the working environment.

Training and development is an informative strategy that keeps all the employees up to date with current information. Similarly, current trends are majorly taught in the trainings that employees attend. In this respect, Riyad bank has strategized a number of trainings and workshops that the employees have to attend in the course of their employment in the bank.

Since the bank operates throughout the year, all the employees cannot train in the same period. It has, therefore, arranged the trainings in that they feature a number of employees from different departments.

They train in different sessions to accrue a constant working structure that will not affect the customers. In spite of the many trainings that Riyad Bank has, the ever-changing nature of the world of banking calls for more avenues of training and development to be put in place.

Employee Compensation, Rewards, Motivation and Retention

According to Nohria et al. (2008), workers who are motivated tend to work in a better way when compared to their counterparts. Some of the key motivations to workers include chances of promotions and career growth, work-life balance and time for relaxation, teamwork, good reward and punishment systems and fair remuneration systems, among others (Saari & Judge, 2004).

In Riyad bank, a good number of these motivators are in place. For example, in effecting team work, Riyad bank arranges for team building activities for all the employees. The employees are treated for an excursion that is out of office where they get time to bond, get entertained, and make strong friendly relations.

Effectually, the employees are encouraged to work as a team in making sure that the bank succeeds in offering the best services and products as compared to their competitors.

Additionally, Riyad bank also has good reward systems where well-performing workers and employees are duly rewarded for their efforts. By rewarding these employees, the workers will be motivated towards giving good services to their clients which, in turn, accrue better outcomes in the bank.

Ethical, Legal and Industrial Endeavors

As was earlier mentioned, different industries have different rules and regulations that guide its workers. In spite of the difference in their scopes, both legal and ethical endeavors all tend to serve the same primary purpose of protecting the rights of workers while ensuring that organizations get maximum revenues in their endeavors.

However, factors such as greed, the need to amass power and exploit others, by those in leadership positions, have often led to the rise of unethical and illegal behaviors in various industries. Such exploitations normally come in form of vices like bribery, corruption, and work abuse—which end up limiting the main objectivity of the legal and ethical laws of a given industry.

Once these exploitations occur, money and power only goes to a section of people in the society thus widening the gap between the rich and the poor while demoralizing the hard working people.

In Riyad bank, most of the ethical and legal considerations are similar to those observed by other banks. The only variation is that most workers and clients at Riyad Bank are Muslims. Consequently, most of the ethics observed in the bank tend to be more biased in favor of the Islamic practices. For example, most workers at the bank are allowed to go for prayers five times a day—which is customary for staunch Muslims.

Conclusion

In conclusion, HR management indeed plays a vital role in the outcomes of businesses. In Riyad bank, good HR practices are evidently in place. However, if ultimate progress is to be made by the company, then it is unavoidable for relevant changes to be made in the areas the company is challenged while the HR management strives to better Riyad bank.

List of References

Bratton, J., and Gold, J 2007, Human resource management: theory and practice, 4^th edn, Palgrave Macmillan, Basingstoke.

Boxall, P., and Purcell, J 2003, Strategy and human resource management, Palgrave, Basingstoke.

Budwha, P.S., and Yaw, D 2001. Human resource management in developing countries, Routledge, New York.

Kidd, J. B., Xue, L., and Richter, F. J 2001, Advances in human resource management in Asia. Palgrave, New York.

Edgar, D.2005, The war over work: the future of work and family. Melbourne University Press, Melbourne

Nohria, N., Groysberg, B., and Lee, L 2008, ‘Employee motivation: a powerful new mode’, Harvard Business Review, 78-84.

Saari, L. M., and Judge, T. A 2004, ‘Employee Attitudes and Job Satisfaction’, Human Resource Management, 43 (4), 395-407.

Ulrich, D 1997, Human resource champions, Harvard Business School Press, Boston.

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