> 2. Identify which category of Literary Devices of 8 words you find in the text, such as the the use of rhetorical devices of metaphor, or other rhetorical devices as you can find in the text.
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Assignment Coversheet
Introduction
The strategic human resource development (SHRD) is a way of equipping employees, management and the executive on the current and emerging alignments of the companies as well as the organization (Berkley, 2013). Equipping of the parties involved in daily management and operations of organization concerning activities is what is referred to as traditional HR development.
In this case study analysis, it focuses on the Queenslander Credit Union, on its strategies pertaining human resource development. Human assets, for instance, have feature characteristics that are entirely different from other resources within the organization which maybe the physical product as well as the financial capital. The performance of human as a resource in an organization is difficult to predict as making any justifications in investing in human specifically improving their performance has a direct impact on the organization's financial results (Youndt & Snell, 2013).
Queenslanders Credit Union Overview
An institution focusing on the banking industry sorely owned by Australian customers and has been in existence for more than 50 years. As a banking organization, its role focuses on providing products as well as services with pride by giving back to the community.
The institution's purpose is providing a customer-owned banking that benefits its customers as well the communities it operates around. With its strategies in operations, the system operates with three values i.e. putting first its clients, providing best for the organization as well as committed to making its operations better.
Historically, this group was formed as a result of an amalgamation of the Australian first public credit union serving public employees with an Ipswich credit union that focused on the coal mining industry within Queensland. Currently, the credit union boasts of five retail branches and total of over sixty employees.
Human resource development needs to be addressed
The traditional accounting system entails that the organization does not own employees, therefore, cannot be enlisted as assets belonging to the organization, within the balance sheet hence cannot be accounted for, however, in the income statement employee's are listed as expenses to the organization. Therefore, as in the case of the Queenslander Credit Union, which is a financial institution offering services as the primary activity; strategic human resources development is vital. The banking has been the people business, and for efficient risk management, skilled manpower is essential. Through the stiff competition within this sector, providing services to their customers, with the current trend changes the only way institutions such as the Queenslander Credit Union will be relevant is providing satisfactory services to the clients. For this to be achieved, strategic human resource development has to be in place (Grieves, 2011). This issue can be witnessed from recruiting, retaining, developing of well-motivated workforce as well as training
For any decision maker in any organization, the key challenge in making the right decision on the value attached to the human capital is eminent. For instance, the Queenslander Credit Union, with a total number of over sixty employees has 47 percent of the workers fifty years plus. Though the organization boasts of engaged employees as well as loyal customers, it makes it difficult for any management to predict, observe or determine the input of investment vested on the employees hence creating the need for strategic management.
There are two forms of resources that the Credit Union needs to be concerned as far as strategic Human Resource Management is concerned (Reinhardt et al 2011). The first of these concerns being the human capital and focuses on the skills and knowledge of the employees. The second challenge is the set organization's systems. For Queenslander, the issues of policies and practices, being a banking institution, as a result of the newly adopted accounting standards by the AABS. These policies concerning the lease rules complicate the matter on the development of the human capital. They need to be implemented by the organization willingly hence for the banking sector making it compulsory; therefore, a new human resource has to be acquired, or training has to take place for the entire staff so as to ensure implementation. Some of the HRD needs to be addressed include;
Human resource as competitive advantage
Very little research has been conducted focusing on the value attached to the human as assets to any organizations. The standard practice has been curtailing by investing on employees as they are viewed to leave the organization. What is commonly known is that the employees have skills and knowledge, but their value cannot be quantified or their quality established. With the Queenslander Credit Union boosting of loyal customers, this is as a result of an efficient routine created by the employees as they have formed a boundary spanner between the organization and the customers. Therefore, for this case the organization as it offers services, it is vital to uphold higher human resource investments to ensure continuous development unless it loses its employees to other competitors playing in the same industry (Holland, et al 2009).
Developing employees
With the increased completion in the banking sector as well as technological advancement within the industry, employee development will be a fundamental decision for the Credit Union. The organization boasts of 75% women working for the institution as well as 25% of their workforce being male; the loophole hangs on their age where 47% of the Queenslander Credit Union is over the age of 51 yrs. With their vast experience in the financial sector, it is logical that most of these people within the said age bracket will not be interested in acquiring any further knowledge on training pertaining any technological advancement, but rather will be eager to retire (Pasher & Ronen, 2011). For this organization, due to competitive nature in the service industry, if the strategic human resource has to be achieved it will be substantial for the organization to start training the young employees for the competitive posts to ensure it remains relevant in the industry.
The system processes
The key human resource development initiators are the executives/board and the unions. The amount of time the human resource issues as well strategic issues determines the systems process. For strategic human resource development to be achieved, transparency and objective should be maintained. From the 2014/2015 annual report of the board meeting of Queenslander Credit Union, risk as well audit meetings seem to be allocated fewer hours. It puts the organization at a risk as these are critical issues that touch on the employees direct. Another problem that can be established within the system process is lack of the exit interviews. It can be noted in the organization's description of the employees as engaged as well as the loyal customers. The exit of an employees should not be restricted, but as part of strategic human resource development substitutes as well as non-disruption of significant functions as a result of an exit of a vital employee (Kandula, 2011). With an exit interview, the organization can recall some of its retired employees as they enjoy a pension and a medical benefit if a key employee exits, therefore, with the Credit Union, with the lack of this exit interview, SHRD cannot be achieved.
Strategic human resource needed
Banking industry should consider a strategic human resource development in understanding and developing the value of human as a resource within the organization (Need, 2012). Four aspects can be considered as far as the HR development strategies;
• Company relationship involving the executive and workers available.
• Strategic orientation and aligned in the grand strategy involving resource development.
• The effects of strategies on the company
• Players in relations and responsibilities within the organization.
For the Queenslander Credit Union, the following human resource necessities should be considered in achieving strategic human resource development;
Human resource players and management interaction
The management should be committed in developing resources within the organization more so the employees as resources. With the changes in the banking industry, the organization's position of high assets, the solid lending growth as well as the lack of economies of scales should not make the management reluctant, but should be involved in every aspect pertaining the human resource. With the positive implications as well as well performance within the service sector, the partnership between the management and those individuals in strategic resource development is important. For the effectiveness of achieving the organization's strategic orientation, the combined contribution of these two groups, as well as their skills, is vital (Kaur & Singh, 2014). This relationship should be implemented from both strategic and the operational levels to enable effective achievement of resource developments.
Planning
With increased customer expectations in the Queenslander Credit Union, income rises, as well as dividends, are expected to accrue. This growth, however, needs a larger human capital to handle transforming challenge presented to the banking industry. The logic question posed to this industry is whether it is ready to deal with the new employees who culturally are different from their predecessors. For instance, Queenslander Credit Union enjoys a culture of well-engaged employees, but the eminent challenge is half of its employees are over 50 years of age. It implies that in 10yrs to come most of these employees will be retired creating a vacuum. Therefore, the manpower lifecycle approach for this institution is necessary and should be integrated into the businesses strategic human resource development. It Can be done through, having a recruitment program, that is steady as well as well calibrated, young employees working as a team with the older employees (Najafi, 2013). This is as a result of cultural adjustment in the management as a way of planning for the future. The final aspect of planning for this service institution is technological change. It can be achieved through continuous skill upgrading to ensure they are at par with the technologically changing sector so as to maintain their relevance within the industry.
Developing employees
Having an employee for over 10yrs is a sign of the good relationship between the employer and the worker, but developing them within this period is an added value to the organization (Need, 2012). There are several ways in which developing of the employees can be achieved as in the case of the Queenslander Credit Union.
a) Re-skilling
Two factors identified within this organization that requires employees training include the technologic advancement as well as the newly implemented complex regulation standards. In-house training courseware should be developed for an IT platforms determined by the different employees’ needs. For the organizations development and performance employee’s empowerment with the necessary knowledge is important.
b) Performance management
In the strategic human resource development, improvement in performance is important, and the focus should be on those lagging behind as far as performance is concerned. As a result, to achieve strategic resource development efficient and a proper performance system should be in place. For the banking sector, an effective performance system is a key in planning, hence, without the system, significant challenges on talent management in the years to come for this organization will be complex (Pasher & Ronen, 2011). This will require juggling around a wide variety of employees with different preference as well as different needs leading to an array of relationships between the institution and its employees.
c) Knowledge management
The current drive that motivates employees in any organization is not the livelihood they obtained from the organization or job satisfactions they receive, but the feeling of empowerment they gain (Berkley, 2013). This, therefore, requires the institution to treat their employees differently as associates rather subordinates, provide a home base as well lead them rather than manage them and above all empower them. Therefore, these aspects require rewriting the employment contracts as a way of strategic human resource development.
d) Communication
The board should spend time in devising ways as well as developing appropriate structures for the purpose of effective and efficient communications (Grieves, 2011). As for the organization in the case study, it has embraced modern forms of communication such as the use of the internet, use of emails as well as online communication, the traditional channels of communication through unions are relevant as most employees’ attribute credibility as well reliability to their unions. For the banking sectors they have a participative process, therefore, for the Credit Union, retaining some of the traditional means of communication can be a form of strategic human resource development that can be used to solve the challenges faced by the institution.
Conclusion
Determining organization’s awareness in strategic resource development is important. There are critical choices as well as initiatives that have to be taken in the banking system as most stand at a cross road. For the case of Queenslander Credit Union, the strategic measures implemented would determine the future of the banking space and its services to its loyal customers as well as its relevance in the banking sector.
Reference List
1. Berkley, V. R., & Gulick, S. (2013). Live first, work second: getting inside the head of the next generation. Community Development, 44(3), 391-392.
2. Grieves, J. (2011). Strategic human resource development. Sage.
3. Holland, P., Sheehan, C., Donohue, R., & Pyman, A. (2009). Contemporary Issues and Challenges in Human Resource Management. Tilde University Press.
4. Kandula, S. R. (2011). Strategic human resource development. PHI Learning Pvt. Ltd.
5. Kaur, R., & Singh, R. (2014). Human resource management in banks-need for a new perspective. ZENITH International Journal of Business Economics & Management Research, 4(12), 56-62.
6. Najafi, A. (2013). Human Resources Performance Analysis based on a Hybrid Method. Scientific Research and Essays, 7(4), 528-537.
7. Need, W. C. D. H. P. (2012). Human resource management: Gaining a competitive advantage.
8. Pasher, E., & Ronen, T. (2011). The complete guide to knowledge management: A strategic plan to leverage your company's intellectual capital. John Wiley & Sons.
9. Reinhardt, W., Schmidt, B., Sloep, P., & Drachsler, H. (2011). Knowledge worker roles and actions—results of two empirical studies. Knowledge and Process Management, 18(3), 150-174.
10. Youndt, M. A., & Snell, S. A. (2013). Human resource configurations, intellectual capital, and organizational performance. Journal of managerial issues, 337-360.
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