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Graduate Hr Strategies And Practices In Barclays Abstract Introduction ...

Graduate HR Strategies and Practices in Barclays

Abstract
Introduction
Strategic human resource management has grown to be seen as a primary contributor to effective corporate strategic profiling. This is as a result of the fact that people more and more need to be seen as critical success factors in the achievement of organisational goals. Human resource management then has been elevated to occupying a critical position within the strategic decision making process of modern organisational managers. Traditionally activities in the management of human resources have addressed a wide range of issues. Of which recruitment and retention are considered as the most fundamental and basic of HRM functions (Torrington et al, 2005). The process of recruitment lays the groundwork for acquiring suitably qualified employees who can contribute to the realisation of corporate goals in both an efficient and cost-effective manner (Foot & Hook, 1999). The importance of ensuring the right people are employed and retained in the right positions is a prime source of creating and maintaining competitive advantages which in itself is a key competence of organisations within ever increasingly competitive environments, (Golding, 2004).
In addition external forces such as those defined as demographic trends in the labour market and a growing internal desire for a multi-skilled flexible workforce has meant companies' have continued to focus strongly on graduates in the assumption that they will be better equipped with the necessary attributes to fill such roles (Beaumont, 1993). In light as such of the growing correlation between successful corporate strategies and people management, Barclays as one of the leading banks in the UK has developed a graduate-focused recruitment program as part of its corporate HR strategy. The basic premise and aim of the scheme is to attract qualified candidates who have an ambition of developing their career with Barclays in a variety of fields and disciplines and not solely financial ones. The new features of the UK labour market such as a better educated workforce in terms of participation in higher education and the associated concerns with overall career life as well as new legislative rules on employment and discriminatory practices for example pose problems of HR management as indeed experienced by Barclays.

Aims and Objectives

This research aims to provide useful insights in understanding the strategic position of recruitment as part of HRM in Barclays and critically evaluate the efficiency of the HR strategy exploited by Barclays in particular in relation to graduate recruitment.
Therefore the first objective was to identify the challenges faced by Barclays in recruiting qualified candidates particularly new graduates.
Research has demonstrated that employees consider long term personal development and well developed promotion systems as one of the most important motivators in joining a company (BBC News, 2007).

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