Loading...

Messages

Proposals

Stuck in your homework and missing deadline?

Get Urgent Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework Writing

100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

HRM Functions of Commercial Bank of Kuwait

Category: Human Resource Management Paper Type: Report Writing Reference: APA Words: 1300

Staffing Commercial Bank of Kuwait

·         In all managerial functions, staffing is a critical one for the Commercial Bank of Kuwait, as they will have to hire staff as per their needs and requirements, which is derived in the strategy developed by the bank to achieve its short term and long term goals.

·         The Commercial Bank of Kuwait should develop a comprehensive strategy and planning based on well-thought perspective so that they are able to identify their needs in terms of handling human resource, which is good enough in numbers and capabilities to perform all activities to achieve organizational goals and objectives

·         It is recommended that the Bank of Kuwait should go for both internal and external recruitment resources. It means that when they need new resources, they must look for internal resources like recruitment within the organization to motivate existing employees, and giving them a chance of growth. But if internal resources are not deserving for any position, then skilled and professional resources should be hired from external resources (Trivikram, 2017)

·         It is advised that Bank of Kuwait should use various selection tools to assess the ability, skill, and knowledge of candidates who apply for any particular position. For instance, they should conduct a complete screening to determine which candidates should be considered for the next step of selection, and then their CVs should be reviewed. The candidates should be given a written test to assess their skills and capabilities and in the end, a proper interview should be conducted. All of these tools would help to assess the skill, personality, behavior, and experience of a candidate (Mayhew, 2019)

 Training and Development Commercial Bank of Kuwait

·         It is vital for the Bank of Kuwait to realize the importance of conducting training needs analysis. For instance, if a new change or policy has been applied in the bank, then proper training needs analysis is needed to determine what kind of training is needed and how those training should be given to certain employees who are affected by the change. The training needs analysis is a great tool for an organization to keep its processes updated with the latest trends as they are able to provide the right set of training to employees so they are updated with their knowledge and skills (Morrison, 2019)

·         Once any training need is determined through needs analysis, it is vital for the bank to design a proper training strategy to move forward in the right direction. There are different steps to consider for Bank of Kuwait while designing a training program. For instance, they must explain the objectives to be achieved by the training and then design the materials of training accordingly (Dalto, 2014)

·         The other important thing for an effective training and development is its proper assessment and evaluation. The training sessions should be closely monitored and feedback should be taken from employees regarding every training session. It would allow assessing the efficacy of training program, and if employees are not getting it, then there feedback will help to identify loopholes (McNamara, 2019)

 Performance Management Commercial Bank of Kuwait

·         The Bank of Kuwait must realize the importance of determining a detailed Key Result Areas (KRAs) so that every employee in the bank knows about his/her KRA. It is a minimum performance standard, which every employee has to meet. The KRAs help organizations and employees to know their key responsibilities and how those responsibilities should be achieved to get business goals and objectives (Tracy, 2019)

·         The performance appraisal is critical for any commercial bank because they work to gain as much as revenue and profits as possible. There are different performance appraisal methods and it is recommended to Bank of Kuwait that they should use Behaviorally Anchored Rating Scales (BARS). In this method, certain performance and behavior showed by an employee is attributed to some numerical numbers, and then those assigned numbers are calculated for the performance appraisal. For instance, an employee may take number 5/10 rating in behavior to customers, which means that employee needs to improve his/her behavior and attitude towards customers (Sift, 2019)

·         The Bank of Kuwait should understand that monthly or annual performance reviews are time taking and they also give feedback, which is not on time. For instance, if an employee is making a mistake in his/her tasks, and then a feedback mechanism with review meetings would be helpful to timely tackle the issue. For instance, during a weekly feedback and review meeting, the employee will share his/her problem, and issue will be rectified for better performance. So, it is recommended to develop a feedback mechanism based on regular intervals (Cognology, 2019)

·         It is imperative for the Bank of Kuwait to align all of its HR functions with their performance management system to keep things on the right track

Compensation and Benefits Commercial Bank of Kuwait

·         The compensation and benefits are critical to keeping bank employees happy, motivated as well as satisfied. So, it is recommended to the Bank of Kuwait to integrate their compensation plan with job evaluation and assessment. It means certain criteria should be selected to evaluate the performance of employees, and compensation & benefits should be given as per the performance like giving extra bonuses, leaves or any promotion etc (SHRM, 2016)

·         The employees should be given good enough benefits from the bank because it is vital to keep them satisfied and motivated. There has been so much research that proved that benefits provided by organizations keep employees motivated and satisfied. So, a comprehensive compensation and benefits plan is imperative to win the hearts of employees. The Bank of Kuwait should provide considerable benefits to its employees o that they are able to develop a good work-life balance. It would make employees more committed, determined and loyal to the bank.

·         The Bank of Kuwait should consider using various other methods to derive their compensation strategy for their employees. For instance, they can conduct market pay benchmarking, which means that they analyze the market bases salaries and compensation provided by other banks for certain job positions, so when they hire any talented employee for that position, he/she should be given market competitive salary, which is better than the average market pay scale. It would help them to attract the best talent in the market. Moreover, they should also give sales-based incentives to employees like SIP (Sales Incentive Plan). SIP should derive a certain policy that how much percentage an employee will get to make certain sales by promoting products and services to customers (PayScale, 2010)

References of HRM Functions of Commercial Bank of Kuwait

Cognology. (2019). What is a feedback mechanism? Retrieved October 23, 2019, from https://www.cognology.com.au/what-is-a-feedback-mechanism/

Dalto, J. (2014). HOW TO CREATE AN EFFECTIVE TRAINING PROGRAM: 8 STEPS TO SUCCESS. Retrieved October 23, 2019, from https://www.convergencetraining.com/blog/how-to-create-an-effective-training-program-8-steps-to-success

Mayhew, R. (2019). HR Selection Tools. Retrieved October 23, 2019, from https://smallbusiness.chron.com/hr-selection-tools-60384.html

McNamara, C. (2019). Evaluating Training and Results (ROI of Training). Retrieved October 23, 2019, from https://managementhelp.org/training/systematic/ROI-evaluating-training.htm

Morrison, K. (2019). What Training Needs Analysis Is And How It Can Benefit Your Organization. Retrieved October 23, 2019, from https://elearningindustry.com/training-needs-analysis-benefit-organization

PayScale. (2010). SALES INCENTIVE COMPENSATION PLAN. Retrieved October 23, 2019, from https://www.payscale.com/compensation-today/2010/06/sales-incentive-compensation-plan

SHRM. (2016). Performing Job Evaluations. Retrieved October 23, 2019, from https://www.shrm.org/resourcesandtools/tools-and-samples/toolkits/pages/performingjobevaluations.aspx

Sift. (2019). What is a Behaviourally Anchored Rating Scale (BARS)? Retrieved October 23, 2019, from https://www.hrzone.com/hr-glossary/what-is-a-behaviourally-anchored-rating-scale-bars

Tracy, B. (2019). Determine Your Key Result Areas. Retrieved October 23, 2019, from https://www.amanet.org/articles/determine-your-key-result-areas/

Trivikram, S. (2017). Internal and External Sources of Recruitment. Retrieved October 23, 2019, from https://myventurepad.com/internal-external-sources-recruitment/

 

 

Our Top Online Essay Writers.

Discuss your homework for free! Start chat

Top Rated Expert

ONLINE

Top Rated Expert

1869 Orders Completed

ECFX Market

ONLINE

Ecfx Market

63 Orders Completed

Assignments Hut

ONLINE

Assignments Hut

1428 Orders Completed