Annotated Bibliography for Human Resource management

Question

Assessment Task : You are required to compile an Annotated bibliography of 5 peer-reviewed journal articles

Step 1. Select an industry sector.
Read the Assessment 3 Essay task and identify which sector you will study for Assessments 2 and 3 (e.g. agriculture; construction; financial services; health care; hospitality; manufacturing; mining; retail; transport).

Step 2. Undertake research of the recent academic literature since 2010.
Identify five (5) academic peer reviewed journal articles relevant to the Assessment 3 Essay topic. It is suggested that you align your selected articles with the unit themes from Weeks 3 to 5 (e.g. job design, HR planning, recruitment and selection). It is recommended that you undertake your research via the online ‘search’ of CQUniversity Library.

Step 3. Write 2 paragraphs on each article
For each journal article, you are to write approximately 400 words in two paragraphs. The first paragraph will summarise the main ideas of the article, identifying the hypothesis, purpose, research methodology and conclusions. The second paragraph will identify how you will use that article in relation to the Assessment 3 Essay.

Step 4. Use an appropriate format
Present your Annotated bibliography in a format similar to that provided below. For more information, see the library guide for writing an annotated bibliography. http://libguides.library.cqu.edu.au/ld.php?content_id=37972692

Answer

Introduction: I have selected the financial services sector for my study, which is one of the most growing industry today. For this annotated bibliography I will mainly be focused on the HR planning, selection of people and other HR propositions in the financial services industry. The first topic selected is on HR practices in the Banking sector written by Indian writer, followed by the articles on Trends of HR relationships in banking and financial industries. Then the other three articles will be focused on how HR has some emerging issues, management of human resources in banks and finally an article on the strategic banks on recruitment and selection from these foreign branches. These challenges have creeped up in long run and will be discussed.

Article 1
Full Reference: Mehta, E. (2016). Literature Review on HR Practice in Banking Sector`. International Research of Journal of Engineering , IT & Scientific Research, 2(7), 90-97

Key Words: Competition, Management, HRM, HRD, survival, recruitment and selection.

Paragraph 1: The author through this article tries to focus on the HRM practices in the banking sector and compare it with the other banks. The research was conducted to analyze the best practices in the field of HRM used in the banking industry. It tries to explain the importance of human resources for an organization and how often they should make changes to these practices in the changing dynamics. The HRM practices which would make the differences between the growths of the banks were discussed in the article. The article seems to suggest an organization where there are better appraisal parameters in an organization. The process used for recruitment, selection and training. The author has used literature reviews to set out the analysis based on the survey done to reach to conclusion and inferences. The literature reviews helped to take private and public banks as example and evaluate their practices and compare them to reach to a conclusion. The conclusion from this research was that there is a lack of systematic approach for HRM even in the private banking industry of India and these practices should be embedded in the strategies of the banks to make it effective and more useful.

Paragraph 2 : This study mainly applies to the banking and finance sector but the importance of HRM practices can also be used in the other sector such as IT sector. The findings and research can be used to bring forward the desired results in the finance sector or any other sectors as well. The literature that was being reviewed talked about the various practices and the gaps in the same based on the experience of the people around the world. This can be applied to every industry as HRM practices being an important part for every organization and needs to be managed very efficiently if the companies want to retain good talent. They should have a clear and transparent HRM policies and to add to the article there should be HR managers who have a different perspective to manage people and not just the ways to lead them. There should be understanding on what the best practices and what not. The findings can be used to make sure that similar practices are been used to other areas as well. The changes needed in the HRM practices will depend on how the people tend to change polices with the current expectations and make it flexible to the outer world and these can be used to set up a resource friendly environment across.

Article 2
Full Reference- Laura.Parrack. (2016, Feb 29). Trends in the banking and finance industries: HR be ready, be quick, be thorough. Cubiks- The people matter , 1(1), 1-1.

Key Words: Development, Demographics, Technology, Engagement, Survey

Paragraph 1 : The author in the article tries to bring forward the various challenges that the companies need to face with the changing trends of business. It tries to put forward the changing trends in the financial business and how the HR system needs to comply with that. The author has described various trends that needs to be followed such as changes in the economy which is improving with time and how the issues needs to be resolved for hiring to face the competition. Apart from this author had discussed on demographics in a particular organisation which might be varied across young and old people. The employers should manage the situations to have a good outcome. Even though the circumstances would be different in various geographies, the maturity to cope up with the increasing demand will lead to a unilateral acceptance to hire good people and better quality. This increase in demand can be witnessed when as high as four generations work under the same roof and suggest their solutions bases their experiences. In spite of conscious trials to engage the larger amount of society, there is a trend which isn?t that popular in this sector which is an overall involvement of the society. This is because HR has the sole responsibility to drive the hiring of right people in right quantity and ensure that they retain in the organization as well. So, reiterating it in a single sentence means that HR should be always ready, he should be quick and through with the process and requirements.

Paragraph 2: This study even though is being referred to with respect to the banking and finance sector, and is referred to in an interchangeable manner, the nature of its applicability remains same across the various sectors. The procurement team has grown over the years and has to come up with a blend of broad mindset, and should apply these trends in their daily jobs. The main perspective of this theory is to explain the evolvement of the HR team along with these trends and how they take this up in their day to day job. With the increase in technology, the growing world has become smaller and there is more resource consumption in order to comply with these trends and genres. HR should come up with transparent and flexible policies and ensure that they take up a regular feedback from the market to make it more effective. While comparing these trends with the various sectors, the conclusion is that this study determines the volatility of the HR department with these trends and how it should adapt to the same.

Article 3
Full Reference Shukla, S. (2014). Emerging issues and challenges for HRM in public sectors banks in India. Elsevier Publications, 133(1), 358-363.

Paragraph 1: The author through this article is trying to come up with the implications on the public sector of Indian economy owing to the HR managers, the makers of the HRM policies and the professionals. This article is pressuring on the fact that even though there is a large pool of talent in the country, it ranks at a 90th position due to its incapability to hire the right talent. Like any other economy, the public sector right from its inception, being a backbone, plays a pivotal role in the growth of the economy and HRM is therefore the next main requirement to engage the right people for a sustenance and survival. While the banking sector has become more of virtual, public sector HR management isn?t being managed the way it should be and henceforth the functionality isn?t happening as it is in the private sector. Public sector banks HRM team has to become more aggressive like the private ones to maintain its quality of people. That?s why it is said that the HRM team is responsible for the selection of candidates, their training and transition, their assessment of knowledge and the most importantly rewards and motivation. They should therefore undertake a research of the objectives, the various methodologies and discuss the same with the employees on a regular note.

Paragraph 2: This article reiterates the various manners which should be adapted by the public sector banks of India with respect to their HR function. It relates the HR function with these 5 legs of the hiring process which is aquiring and developing the people; their training and polishing; their appraisals; their compensations; hikes and incentives; and the most important being the planning of their success and sustenance. Regulations in India being too many in number doesn?t provide the freedom to the HRM team to hire the resources on their own and so they cannot attract the resources even though they are ready to pay the market price. So this study entails the relation of the team with these factors mentioning the manners in which it should undertake the hiring of the employees. It not only concentrates on the hiring of the people but also on the grroming of their skills in a required manner. Leadership along with this team should indeed ensure that this function of the organisation isnt being undermined and works effectively under the high amount of regulatory compliances. Knowing the fact that the HR function is the most neglected one in the public banking sector, it should no longer be the supporting team but the core one.

Article 4
Full Reference: Chakrabarty, K. C. (2012). Human Resource management in banks ? need for a new perspective. Deputy Governor of the Reserve Bank of India,, 1(1), 1-7.

Key Words: People business, socially responsible, positive discrimination, up-gradation, countrymen

Paragraph 1 The base of this article is on the question ? How to manage your human resources being in a public sector? The functionality of this department is bifurcated in a brief angle of Planning and Management. Planning revolves around the areas of acquisition of talented and correct people, their retention and growth, their attrition and the most important one being their upbringing during their tenure with the organisation. This brings a question on hiring done in campuses, wherein the importance should be placed on the appropriate candidates and not the acheievement of the candidates only. HRM function is therefore not a support function but a core function like any other core function. Banking will always be a People Business and this should be kept in our mind while hiring the employees. The differentiation of the candidates should therefore be on a positive basis of their capabilities and not the negative side of their degrees. This function should be undertake with an intent to hire future leaders and not regular bosses. This system is standing at a junction wherein the various roads lead it to taking up a regular job or quitting it and coming up with bold measures. This function is indeed an important one as it leads to building of a nation and has a dependency of millions of the countrymen.

Paragraph 2: It is important to note the fact that this article is focusing on the basic functionality of an HR function which is even though known to every organization but isn?t being given the required amount of attention and importance. This is to bring to the attention of all the organizations, a keen interest in their regular work making them know the manner in which they should function to achieve their objectives. So the requirement is to upgrade the HR function to develop the management capacity of the public sector banks, to avoid any sort of distort due to its negligence. This article is paying attention to the long-pending initiative to be taken up by the service sector to maintain its customers and avoid losing them to the private sector banks. The Banks human resource team should mean the words like innovative, socially responsible, Indian, flexible, which are being spoken up in the vision and mission statements of the entire sector. Banking sector has been complaining on a regular basis that there is an acute shortage of efficient staff but this isn't being though upon to come up with a solution. So it is most important to literate this wing of the organization and make it well versed.

Article 5
Full Reference: Higginbottom, K. (2015). HR Challenges Facing The Banking Sector In 2015. Forbes, 1-1.

Key Words: country regulations, sustenance, tightens, employee behavior

Paragraph 1: The intent of this article is to mention the various challenges faced by the HRM team in 2015 which was owing to the salaries of the staff, country regulations and restrotaion of the staff. Banking sector is the second most affected sector due to regular changes in the laws and regulations. This is because the change in the regulations have created a fear in the minds of the staff that their growth and package will get affected due to the laws and policies changes. It therefore threatens them that they will have to move out of the sector and compete with the other economies which questions their sustenance in the world. The second challenge is the impact on their salaries due to local laws which tightens their take away salaries making them think about their existence in the economy. HR cannot alone drive the staff as its functionality is even dependent on these areas. They therefore cannot justify deferrals of hikes, their bonuses, lay off and the pension reforms. Last challenge of this fucntion is to maintain the reputation of this sector in spite of its huge volatility because this makes a chalenge to this sector to restore its values, the set objectives and the required behaviors of its employees.

Paragraph 2: The expectation of the society from the Banking sector in 2015 is really different when compared to the requirements in 2005 or to current date. This is because the reason of development of this sector back in the 1800?s was to drive the wealth of the people and ensure that there is a regular return on the deposited wealth. While in 2015, it is being compared to the requirements of safety of these funds in the hands of the banks. We cannot ignore the present scams witnessed by the leading banks of the world. Therefore HR function should ensure that along with the basic tests, they regularly entail the generosity of the staff to safeguard the monies of the people. It is therefore the responsibilty of the management to make this HRM team as a frontending one and participate in taking a regular feedback so that there is and a peer to peer check on the credibility of the staff. This will ensure that the reliance which the countrymen had on this public banking sector is present in 2018 and remains till 2050s and on. It should be taken not as an engine but as a custodian of the monies of the people.