HR Strategy of Barclays Bank

HR Strategy of Barclays BankIdentify the organisations overall HR schema and goalsSpecifically, Barclays outlined the core out objectives of its overall HR strategy in its online job portalTo ensure that our concourse programmes ar aligned with the Barclays Commercial Bank business strategy.To train and retain, as well as acquire the best talent in the market.To make Barclays the employer of choice for people in the industry and ensure those already with us willing have no intention of leaving.To ensure we have the right people, in the right jobs, doing the right work. (Barclays Bank)From the objectives strategy, one sees that the overall Human Resources strategy of Barclays Bank is maneuver by two fundamental factors First, the HR strategy is about governance directed at managing the sheer number and diversity of its employees so that they all usage and work according to and towards achieving the memorial tablets business objectives. This is particularly important because B arclays employs more than 123,000 people across the globe (Barclays 2009), covering a wide variety of subsidiaries. Secondly, the HR strategy is, certainly, aimed at attracting, developing and retaining the best people available.In regard to employee development and training in the context of the first dimension to Barclays overall HR strategy the people management a formal learning process has been developed and put in place by the banks human resources managers. The aim here is to give instruction the behaviors and values seen as pivotal in achieving corporate goals. This HR programme involves basic training in how teams work together, personality profiling, and preferred learning styles. (Ostroff 1999, p. 122) concord to Mike Ockenden, a former managing director at Barclays, HR is trying to create a spirit that says we are all one group of people working together towards the customer imperative. (Ostroff, p. 122) In addition, numerous other trainings are continually developed ranging from mentoring programmes, training on new technologies, operational methodologies, courses on team-work, to dialogue efficiency modules.When it comes to the objective to attract, train and retain the best people, specific programs and initiatives have been introduced. Our people, according to the organization, are the foundation of Barclays success. Its as simple as that. We want the more or less talented, whatever their style, personality, age, race, gender, sexual orientation, or disability. (Barclays 2009) Indeed, the organization implements a policy of diversity and equality in the workplace.Furthermore, the Barclays corporate culture resembles democratized structure nobody has a hole-and-corner(a) office, nor are there executive parking spaces employees sit in the same size chairs behind the same size desks titles are forbidden, and employees use first name when they address one another. (Ostroff, p. 121) This culture creates a conducive environment for innovation and that it promotes and maintains a system that values everyones contribution. Barclays maintains We promote an inclusive culture where colleagues of all backgrounds are respected and the different perspectives and fresh ideas they sens bring to the business are valued. (Barclays 2009)Barclays have also experimented with competency-based pay systems which were expected to provide clarity about how employees can add value through their respective roles in the organization and motivation to perform better. (Holbeche 2009, p. 148) The company boasts of offering one of the highest salary schemes in the industry. The benefits package is consisted of 1. fiscal reward such as competitive salary, discretionary bonuses and recognition schemes wherein employees could receive performance-based gifts and expensive perks 2) discounts in privileges on Barclays financial services and Barclays shares 3) health, well-being and retirement benefits. At Barclays, employees also have the option to ha ve flexible work schedules such as part-time work, compressed working week, job-sharing and a nine day fortnight, among others.Then, the organization has also set up a corporate social responsibility policy that aims to boost employee morale and made them proud to work for the company. This policy is contained in the companys sustainability strategy which focuses on three areas helping address social issues, investing in community initiatives, and volunteerism.In assessing whether Barclays overall human resources strategy and objectives, one needfully to look at the statistics. According to OstroffThe company is meeting its goal of increasing national market share by at least one ploughshare point each year. This figure represents approximately an 18 percent increase in revenues and a 20 percent increase in profits What is more, Barclays is whipping the competition by spending less. (p. 119)Barclays has achieved many of its successes partly because it was able to develop and impl ement a sound HR strategy and objectives, which are characterized by small people management.