Culture, Recruitment and Performance at Australis Bank

BUS 4589 Professional HRM Practices
Assessment 3: Case Study Report
Culture, recruitment and Performance at Australis Bank
Due: Thursday 25th February
Name and Student ID
Group and Tutor Name
Word Count: 2850
Executive Summary
This report provides insights and advice to the Australis Bank HRM division on the measures they can implement to ensure that the firm maintains its competitive advantage over its counterparts. The report has two parts, with the first highlighting the current measures that the firm can put in place while the second focuses on the future, with the advent of AI. This report gives Australis bank recommendations for part A regarding performance management, including; creating a performance appraisal system, initiating rewards and recognition programs, and ethics training. Recommendations for entry-level recruitment include; having multiple recruiting channels and assessing soft skills. Finally, regarding organizational culture, the proposals involve developing their culture and establishing diversity and incorporation policies. The recommendations regarding the future, specifically with the advent of AI, include; employment, utilizing technology to reach a wider audience, virtualization of work, and demographic workforce changes. Regarding training, the recommendations include implementing training programs, using data analytics, and implementing training programs. The HRM decision should review these recommendations and implement them, as this will lead to the success of Australis by attaining a competitive advantage and having a large consumer base. These recommendations will also help the oncoming CEO manage the bank as required.
Table of Content Contents Executive Summary  2 Introduction  5 Part 1: The link between Recruitment, Performance and Culture  6 Effective performance management to ensure that individuals are performing towards their KPIs underpinned by ethical behavior. 6 Performance Appraisal System. 6 Rewards and Recognition  7 Perform Ethics Training  7 Advice on Recruitment at our Entry-Level Positions  8 Use Multiple Recruitment Channels  8 Assess soft skills  8 Processes and Procedures HRM will put in place to recruit people who reflect our culture  9 Create the Organizational Culture  9 Establish Diversity and Inclusion Policies  9 Part B: Planning for the Future  10 Recruitment 10 Utilize Technology to Reach a Wider Candidate Pool 10 Virtualization of Work  11 Demographic Workforce Changes  11 Performance Management 12 Implement Continuous Feedback Systems  12 Employee Engagement 12 Employee Development and Training  13 Implement Training Programs  13 Utilize Data Analytics to Identify Skills Gap  14 Conclusion and Recommendation  14
Introduction
Australis bank wants to maintain its competitive advantage over the other four banks, so it needs to implement strategic measures. This report, requested by the incoming Australis CEO, will document the actions the firm must implement. The report contains two parts, part A and Part B. Both parts will put the argument that effective HRM practices call for strategic plans and evaluation of the past to determine the future. Part A recommends the practices that Australis bank will utilize based on three key HRM practices: recruitment, performance management, and alignment with the business culture. On the other hand, Part B will outline how Australis will leverage AI in its future practices while understanding that technology is here to stay. Like part A, part B will also highlight the key HRM practices. This report is relevant to HRM practices as it will provide actionable recommendations for HR professionals to improve their practices, remain competitive, and meet the evolving needs of the workforce. When the measures are taken keenly, overall business success will be attained. I will utilize a content analysis to gather data from research articles and a comparative analysis of the traditional HRM practices while comparing them to future trends. In my report, I hope to persuade the HRM division in Australis bank to take action and implement my proposed HRM practices leveraging the latest technological advances to drive success and achieve their objectives while preserving as many jobs for their staff as possible.
Part 1: The link between Recruitment, Performance and Culture
Effective performance management to ensure that individuals are performing towards their KPIs underpinned by ethical behavior
The 21st-century competitive landscape has pushed businesses into having performance management as one of the basic tenets of business. Tahiri, Kovaci, and Krasniqi (2020, p.292) define performance management as a continuous process of identifying, measuring, and developing the team's and individuals' performance while aligning them with the organization's strategic goals. Ideally, performance management helps support the business goals by linking each employee's work through KPIs and the company's vision. Besides performance management, firms generate better results when they manage their consumer base to ensure that they identify, satisfy and retain their profitable customers.
Performance Appraisal System
Performance appraisal can be defined as the evaluation of the employee's performance over a specified period to provide feedback on their performance and identify their areas of weakness. Ideally, the main purpose of performance appraisal is to improve the employees' performance. The traditional approach to performance appraisal utilizes the deficit approach, whereby a person's weakness is seen as an opportunity for development (Woerkom and Kroon, 2020, p. 2). Woerkom and Kroon, however, propose a different approach based on utilizing a person's strengths as a pathway to performance improvement. The Australis bank should use this approach in line with the strength-based PA. However, this does not mean that the weaknesses should be ignored; Australis should use the employees' weaknesses to offer training on its improvement.
Rewards and Recognition
A positive relationship between the organization and the employees is imperative for an organization to meet the demands of shareholders. The equity theory proposed by Stacy Adams in 1960 states that individuals seek to balance their contributions to a situation (such as work) and the rewards they receive in return. According to the theory, people compare their inputs and outcomes to those of others in similar situations and judge the fairness of the exchange. Suppose an individual perceives that the ratio of their inputs to outcomes is not equal to that of others in similar situations. In that case, they will experience a sense of inequity or unfairness (Kavanagh and Johnson, 2020, p. 470). This shows that motivating employees can have an impact on work productivity. Still, human beings are not homogenous, as they have different needs and understandings of rewards. This means that if Australis is to leverage the use of motivation, it is essential that they have a deep knowledge of their employees' nature and their different views on rewards rather than assuming that only monetary incentives are the best rewards.
Perform Ethics Training
The role of ethical training is to develop and strengthen ethical competencies in the organization (Kreismann, 2021, p. 69). It is essential to understand that morality cannot be learned from a book, as it requires thought-provoking training to have a lasting impact. It is well known that when the employees depart an organization, the culture does not, which is why organizations like australis should leverage the same. For employees to behave ethically, it is also essential to begin with the leaders, which means that training should also be done for them. Leaders constantly interpret the environment, and in most cases, what the leader does, then the followers will do the same. Finally, ethics training should not only focus on specific areas of misconduct but also highlight the rights of conduct.
Advice on Recruitment at our Entry-Level Positions
Human capital remains the most crucial asset in an organization; hence, Australis must recruit the right candidate. Recent research indicates that the key to success in banking institutions regarding matters of growth and performance and sustaining competitive advantage can be attributed to the competency of skilled employees (Azizzadeh et al., 2022, p. 1). This is why recruitment is critical, and finding the right candidates is as good as the business's progression into profitability. The recommendations discussed in the subsequent sections incorporate advice on recruitment practices to fill Australis' entry-level positions.
Use Multiple Recruitment Channels
Recruitment is such an important and complex task to achieve for organizations. This can mainly be attributed to the impact recruitment of the right candidates has on an organization. As stated by Rodrigues and Martinez (2020, p. 24), acquiring the right talent strengthens the organization and also has a positive influence on the organization's reputation. From the statistics provided by the Education Data Initiative, there has been a significant increase in the number of university graduates who are potential employees, distributed countrywide (Hanson, 2022). This calls for a wide panel of recruiting channels for information to reach as many candidates as possible to find the right fit. For instance, Australis can leverage technology to reach a wider audience
Assess soft skills
The historical focus of recruitment has always been on hard skills, such as educational qualifications and technical knowledge. But it is important to note that as businesses face a competitive battleground, the employees' requirements and skills also need to change, with a focus on soft skills. The new world involves interacting with diverse groups; hence, the best candidate is one who knows how to interact well with customers. The Congressional Research Service (2022, p.2) states a skills gap in the current workforce, especially in soft skills. Australis should pay focus on this to remain competitive.
Processes and Procedures HRM will put in place to recruit people who reflect our culture
Create the Organizational Culture
Organizational culture can be described as a collective concept since it is based on shared values and the perception of the members of the same organization. For instance, a strong organizational culture creates the values, beliefs, and attitudes that eventually enable the employees to attain their required performance. It is, ideally, the focal point of understanding what an organization is and how good it is. Australis must first identify what culture they need to display since it is impossible not to have a culture but still expect job seekers to have one for the company. This aligns with the analogy, "If you don't know where you are going, then anything will take you there."
Establish Diversity and Inclusion Policies
Australis should then set policies that outline the organizations' commitment to diversity and inclusion, set goals and targets for diversity, and provide guidelines for HRM to follow in recruiting and promoting a diverse workforce. The policies should also provide clear guid...