Role of Human Resource in Barclays Bank in United Kingdom (UK) - Article Example

ROLE OF HUMAN RESOURCE IN BARCLAYS BANK IN UNITED KINGDOM (UK) Human Resource(s) at Barclays Bank de s a person or people entrusted with the financial and material resources of the organization (Pilbeam & Corbridge 2002). Apart from the basic qualification, a HR specialist is expected to have other qualifications such as; be a Certified Recognition Professional, a Certified Employee Benefits, a Certified Professional in Learning and Performance, a Certified Safety Professional (CIPD 2011). In addition, a HR is supposed be an Occupational Health and Safety Technologist. Even though, many people do confuse HR with HRM, the terms are different. HRM is a strategic and comprehensive organization within Barclays bank or other organizations that ensures that compensation, safety, wellness and hiring of workers as well as the developments within the bank are looked into (Pilbeam & Corbridge 2002). Barclays bank UK has in the past realized it cannot do without a HR. This owes to the fact that a HR plays critical roles in the bank’s success as a financial institution. These roles include; operational and employee advocate, strategic, change agent, decision making, and personnel administration (CPD 2011). A HR greatly assists Barclays bank in fulfilling its goals through operational and employee advocate. Barclays views a human resource as an employee advocate. For instance, Barclay’s HR mostly acts as the bank’s morale officer by spending considerable time in dealing with both work-related and non-work related problems affecting employee (Bloisi 2007). Through employee advocacy, a Barclay’s bank HR ensures that there is fair and equitable treatment of employees regardless of their personal background or circumstances (CIPD 2011). At the same time, through a HR’s role as a Bank’s advocate, employers and employees are able to evade unnecessary lawsuits and regulatory complaints. A HR also enhances corporation of various departmental, operational managers, and supervisors in order to identify and implement needed programs and policies within an organization (Bloisi, 2007). For instance, most organizations including Barclays bank UK, often involve HRs in various operational activities such as interviews, general training and training of supervisors, and processing of employment applications among other material and financial resources (Bloisi, 2007) Human resource has also assisted Barclays in its operations though its strategic role. As strategic planners, HR professionals address business realities and focus on future business needs such as strategic planning, compensation strategies, and human resource performance (Stredwick 2000). Although at Barclays HRs do not formulate strategies, they are part of the team that is in-charge of formulating strategies (CIPD 2011). Barclays’ executives, managers and HR professionals have raised the need for HRs to engage fully in the banks strategic issues for the bank’s success.. For instance, Barclays is planning to treat HR function as a business of its own by selecting most of its senior HR executives from people without HR experience. Such measure promotes good business focus among its senior HR executives and not just HR experience. In addition, HR assists in evaluating the real cost of human capital incurred by the bank. For example, it will cause the bank twice as much on employee’s salaries to replace them if they had to leave Barclays. Moreover, a HR plays a critical role in preventing and controlling employee turnover thereby enhancing good retention and talent management (CIPD 2011). As a strategic business partner to the bank, a HR offers strategic directions and success to financial institutions (Stredwick 2000). For instance, he/she ensures that required finances are availed to attain specific objectives, conducts workforce, plans anticipated retirements of employees, identifies workforce expansion, and institutes HR management system to help reduce administrative time and staff. HRs are also expected to preside over site selection efforts for new facilities and work with executives to develop a revised sales compensation and incentive plans prior to rolling out new services to customers. HRs at Barclays and other organizations are charged with administrative duties. For instance, a HR is expected to inform managers and employees of their role through processing and keeping of an organization’s records (Stredwick 2000). He/she is also responsible for employment applications and employee benefits enrollments. Before an institution or an organization designs a favorite mode of paying its employees, it is always important for it to consider some pertinent issues that would promote a convenient mode to both employees and the management (Leaatherbarrow, Fitcher & Currie, 2010). Such method will not only favor management by reducing the cost of production, but also ensure that employees’ interests are taken care of. Naturally, workers are only motivated if their workplace is conducive and are always paid on time. Leaatherbarrow, Fitcher & Currie (2010) assert that HRM should ensure that the mode of payment that is being utilized promotes faster transaction. Barclays Bank UK’s employment design is being influenced by modern technology. Such design has changed people’s preference from handling liquid cash to cheques, credit cards, and Visa Debit Cards. As such, it is important for Barclays bank to design a payment mode that is not only recognized in the United Kingdom, but also in other parts of the world. Following the need for Barclays to design a global payment method, it has initiated visa Debit, a major Debit Card as its main payment method. Visa Debit operates in the same way as a Visa Credit Card both in UK and other parts of the world. However, in some countries, retailers can accept Visa Debit as a Debit Card and not the normal Visa Card. Under such condition, a store would only pay a fixed charge of 0.50 starling pounds as opposed the normal percentage charge. This mode is not only applicable to Barclays bank in UK, but has also been adopted by other smaller banks and building societies such as Cooperative Bank and First Trust Bank. Barclays bank’s adoption of Visa Debit Card as a main mode of payment is attributed to the card’s ability to reduce production cost and employee preference. Under certain circumstance, Barclays bank pays its workers using cash even though such mode has been cited to encourage impulse spending and insecure. Reference Bloisi, W 2007, An introduction to human resource management, London MacGraw-Hill Education. Chartered Institute of Personnel and Development. http://www.cipd.co.uk/ March 10, 2011 (28 March 2011). Leaatherbarrow, C, Fitcher, J & Currie, D 2010, Introduction to human resource management, 2nd edn, Chartered Institute of Personnel Development, London. Pilbeam, S & Corbridge, M 2002, People resourcing: a contemporary HRM in practice, 2nd edn, Essex, Prentice Hill. Stredwick, J 2000, An introduction to human resource management, Oxford, Butterworth- Heinemann. Read More