b) Which complexes are involved in respirasome formation?
c) What is the involvement of cardiolipin in respirosome function?
d) What are the benefits of a respirasome?
APA style with references and add figures – do not use first person
Do not use a cover page
2 Reply Two Student’s Name Institutional Affiliation Professor’s Name Course Date I
I agree that the major issue that affect health care are unprofessional conduct, gross negligence regarding patient care, violation of confidentiality between a patient and a physician and a pattern off negligent conduct. These issues were investigated by Dr. Javed and nurse Linda Prochaka. Medical negligence occurs when a medical provider’s acts or inactions fall short of the medical standard of care. Medical malpractice happens when a physician’s negligence results in an injury to a patient. Unprofessional conduct is defined in the medical community as any deviation from or violation of the minimal norms of acceptable and established medical practice, including but not limited to the prescribing or administration of potentially dangerous medications, or diagnostic procedures(Samanta & Samanta 2021). If the hospital had exercised greater control over the cancer center when the complaints first surfaced and had been able to intervene rather than turning away and claiming they were powerless to do so, a number of unfortunate events, including the deaths of several patients, could have been avoided (McKnight & Bennington 2014).It is one of the most frequently reported instances of medical negligence when erroneous prescriptions or medication administration are utilized or supplied. Patient medication errors can occur when a patient is prescribed the incorrect drug for their ailment, obtains medication from another patient, or is given the improper dosage of medication. When a patient’s private information is revealed to a third party without their consent, this is considered a breach of confidentiality.
McKnight, E. V., & Bennington, T. T. (2014). A never event: Exposing the largest outbreak of hepatitis C in American healthcare history. History Examined.
Samanta, A., & Samanta, J. (2021). Death caused by negligent medical care: Reconsidering the role of gross negligence manslaughter in the aftermath of Bawa-Garba. Medical Law International, 21(4), 293-320.
2 Reply Two Student’s Name Institutional Affiliation Professor’s Name Course Date Reply
a) What is meant by a respirasome? b) Which complexes are involved in respirasome formation? c) What is the Chemistry Assignment Help 2
I agree that the significant issues affecting health care are unprofessional conduct, gross negligence regarding patient care, violation of confidentiality between a patient and a physician, and a pattern of negligent conduct. Dr. Javed and nurse Linda Prochaka investigated these issues. Medical negligence occurs when a medical provider’s acts or inactions fall short of the medical standard of care. Any deviation from accepted medical practice, including prescribing or administering potentially dangerous medicines, or diagnostic tests, is deemed unprofessional(Samanta & Samanta 2021). If the hospital had exercised greater control over the cancer center when the complaints first surfaced and had been able to intervene rather than turning away and claiming they were powerless to do so, several unfortunate events, including the deaths of several patients, could have been avoided (McKnight & Bennington 2014). It is one of the most frequently reported instances of medical negligence when erroneous prescriptions or medication administration are utilized or supplied. Patient medication errors can occur when a patient is prescribed the incorrect drug for their ailment, obtains medication from another patient, or is given the improper dosage of medication.
McKnight, E. V., & Bennington, T. T. (2014). A never event: Exposing the largest outbreak of hepatitis C in American healthcare history. History Examined.
Samanta, A., & Samanta, J. (2021). Death caused by negligent medical care: Reconsidering the role of gross negligence manslaughter in the aftermath of Bawa-Garba. Medical Law International, 21(4), 293-320.
CHAPTER ONE: INTRODUCTION Background of the Study In industrialized, emerging, and developing
CHAPTER ONE: INTRODUCTION
Background of the Study
In industrialized, emerging, and developing economies, the relationship between human resources management (HRM) and corporate performance has piqued researchers’ interest. Globally competitive multinational commercial banks greatly depend on how unique human capital is managed for the realization of a successful competitive advantage, therefore the human resources (HR) practices and their contribution on the financial performance has been greatly researched by different scholars. According to Dahie (2017), The importance of human resource management practices (HRMP) cannot be overstated, and it is critical to examine them in a variety of settings in order to verify their contributions to financial success. The trajectory of human resource management practices has shifted dramatically in recent years as a result of the global environment, privatization, competition, and technological advancements, not to mention the shifting social, political, and economic factors that have forced banks to implement innovative practices that will ensure financial performance. Anyumba (2016) states that human resource practices are essential for any firm to grow and goes on to list a variety of human resource practices, including but not limited to reward management, training, procurement, evaluations, and job security. Human resource management is a critical aspect of achieving and maintaining a competitive advantage, according to Kagwiria (2015), so human resource managers have been tasked with mentoring employees with specific expertise and capabilities that will help commercial banks improve their competitive advantages.
This research is premised on the Resource Based Theory, Human Capital Theory and Maslow’s Hierarchy of Needs theory. Social exchange theory emphasizes that employees should be treated as assets who are important to the organization and who have very vital information and the understanding of the organization and its activities as well. The human capital theory was proposed by Becker in 1964. The theory emphasizes on the need of the organizations to consider the different abilities, skills and knowledge of its staff as significant capital. The theories are therefore relevant to this study because they help explain how human resource management practices are critical to realization of financial performance.
Human Resource Management Practices
According to (Minbaeva, 2012), HRMP are approaches used by organizations in managing employees by accelerating the progress of capabilities that are aimed at sustaining competitive advantage. Therefore, HRMP are methods used in managing people. Organizations ought to execute best human resource practices that suit how they operate (Armstrong, 2012). Further, Delery and Doty (1996) described human resource practices as internally dependable policies that are designed and executed to ensure that organization’s human resources add into the realization of the set goals.
Human resource management practices is defined as the practice in organizations and policies that influence behavior (Dessler, 2008). The practice includes choosing human resource requirements, reference checks, recruitment, training, reward, assessing and also labor relations, health and safety and fair concerns among others (Dessler, 2007). Human resource practices have been defined in several characteristics which are not limited to; a system that catch the attention of employees, improves their experience, encourages them to work and maintain them for a period of time so as to comply with the effective conclusion and continued existence of the business entity and employees (Schuler and Jackson 1987).
Furthermore, some of these practices are considered as a set of reliable guiding principles that are within planned and employed to ensure that an institution’s employees add to the achievement of the organizations goals (Delery & Doty, 1996). Minbaeva (2005) describes human resource management practices as approaches used by organizations in managing employees by accelerating the progress of capabilities that aim at sustaining competitive advantage.
The performance of employees is related to the ability of the employee to effectively and efficiently complete tasks as expected by the employing authority. The performance of employees concerns the quality of output as per the set standard (Mathis and Jackson, 2009). According to Gilbert (2008), employee performance is a function of motivation and capability. The employer provides performance support by working on the environment and making sure the hindrances to one’s performance is minimized. Failure of employees to perform to the expectations of the employer is not always because of the inability of the employee but rather influenced by external factors like the office support system (Ströh, 2001). Upon joining new institutions, employees bring with them certain expectations that influence their performance and output. The needs could be psychological values, physical values or both (Davis and Newstrom, 2006). They further emphasise that high job satisfaction does not always lead to high employee performance because employee performance is not associated with socio-economic or psychological achievements.
According to Nzuve (2007) the assessment of the performance of employees provide with information that helps in evaluating an institution. Certo (2010) postulates that employee performance catalyzes one to perform even better and by so doing, an employee is likely to exceed their own/and companies expectation and that works for the good of all, both the employee and the organisations wins. Today’s performance is critical for planning tomorrow’s performance and for the overall improvement of organizational performance. Noe et.al (2011) on their part, consider performance as a process that ensures that the actions taken by an employee and the respective outputs are in line with the organizations’ goals. In their view, the HR department is charged with the responsibility of ensuring that the performance of the employees are congruent with the organizations’ goals. They do that by matching employee’s job description with the respective
Problem of the Study
The alignment of human resource management perspectives to the objectives is a key responsibility of human resource management practitioners. The way multinational commercial banks manage its human capital distinguishes one commercial bank to the other, particularly today when there is increased competitiveness. Depending on the human resource management approach, a multinational bank can either succeed or fail. With the dynamics and turbulences in the market to date, commercial banks are increasingly looking for new strategies to help them respond to the changing business environment. The banks that have factored the human capital aspect have turned out successful. Realization of the critical role played by employees is a great step towards the Banks’s competitiveness and financial performance. The changing dynamics are exacerbated by globalization that has made the world a global village in which one has to remain competitive to survive. As such, shifting focus to the management of human resource cannot be overemphasized. This calls for proper taping and management of commercial banks’ human capital if the objectives were to be achieved.
Objective of the Study
The main objective of the study was to investigate how human resource practices influence the financial performance of multinational commercial banks.
To establish how human resource planning influences financial performance of multinational commercial banks
To determine the impact of recruitment and selection to financial performance
To establish the influence of performance management on financial performance of commercial bank
To determine the impact of reward systems on financial performance
To identify the effect of training and development and career planning on the financial performance of the multinational commercial banks.
Value of the Study
The outcomes of this study will aid human resource management decision makers because the feedback may be used to guide the implementation of change strategies and increase the firm’s growth. Human resource managers at other companies would benefit from learning about many areas of human resource management practices in order to improve employee performance.
The study is valuable to the academic community since it has uncovered holes that have not been addressed in previous HRM studies. Future research will be able to fill up these gaps in order to create better human capital management approaches that will help organizations compete.
CHAPTER 2: LITERATURE REVIEW
This chapter introduces a review of literature, and it takes a critical look at previous research relating to this subject that has been done by other researchers.
The emphasis in Human Resource Management Practices literature has been on demonstrating the necessity of successfully managing an organization’s human resources. Management researchers and practitioners alike have become increasingly interested in learning more about human resource strategies in order to improve employee and organizational performance (Boselie et al. 2018). Although the focus of the research is on the developed world as well as the manufacturing business, there has been an increase in research interest in the human resource management – performance relationship on emerging markets and multinational banks in the previous ten years.
Resource Based Theory
This study will be based on the resource-based view (RBV) theory. The theory has been used more often to analyze a company’s ability to retain a competitive edge over its competitors for an extended period of time (Davis & DeWitt, 2021). According to the theory, organizations may gain a competitive advantage by owning and controlling valuable, unusual, and distinctive assets including human resources, as well as by establishing a management structure able to manage these assets (Miller, 2019). Because the RBV treats all resources conceptually the same, Human Resources may be distinguished from other resource types. Human resources can help to lay the groundwork for a company’s capabilities growth, resulting in improved long-term performance. (Miller, 2019)
Organizations including Multinational banks are made up of two parts: resources and commodities or services that are solely derived from resources. As per the RBV theory, the resources of a company can be used to determine its competitive advantage and performance (Barney ,2018). The resource-based theory or perspective assists in assessing the company’s available resources and connecting them to its capability. This takes into account its profitability and valued proposition. According to this theory, an organization such as a Multinational bank has a competitive advantage if it can use its resources in a more distinctive and valuable manner than its competitors (Dionysus & Arifin, 2020). This contributes to the its success in emerging markets around the world. According to the RBV hypothesis, valuing a resource can provide the bank with a competitive advantage (Barney J, 2016). Simultaneously, the bank can evaluate possible human resources that can benefit the company and assist it in succeeding in new markets.
The approach also investigates the Multinational banks’ human resource availability (Cruz & Haugan, 2019). The competitive advantages of the banks’ resources are assessed to see whether the resource is truly unique and unavailable to the firm’s competitors. As a result, human capital may be advantageous to the company because competitors will be unable to meet the same level of market expectations as the company. According to Wright et al. (2019), human resources enable a company to generate things in response to market demand while also allowing the organization to grow sustainably.
A resource with the potential to create a competitive advantage must have specific characteristics, including value, diversity, imitability, and organization (Dionysus & Arifin, 2020). Resources and capabilities are deemed critical if they enable the Multinational bank to capitalize on opportunities while avoiding risks (Wright M, 2019). For instance, using its resources to pursue mergers and acquisitions as a strategic move. As a result, the company’s resources should be able to assist it in meeting the important success factors in its industry. The rarity criterion is determined by the number of rivals that own a valued resource. A valuable resource, such as Human Capital, that differentiates itself from existing and future competitors is likely to create a competitive advantage (Cruz & Haugan, 2019).
Resources that are both precious and scarce can provide a competitive edge, and they should be performed and developed in the United States. The imitability criteria consider how easy it is for competitors to replicate a firm’s valued and scarce resource. In summary, the purpose of this study is to determine the impact of human resource policies on the performance of rising multinational banks through the resource’s competitive advantage. To connect the theory to the research topic, this study will look at whether human resource management practices have any correlation with bank performance. It will examine the best human resource management practices.
In order to maximize its resources and abilities, a Multinational bank must be organized. The reporting structure, management control systems, and remuneration regulations are among the organizational criteria (Dionysus & Arifin, 2020). It is vital to note that even if the bank possesses a variety of valuable, scarce, and difficult-to-replicate resources, the organization will prohibit them from being fully utilized (Cruz & Haugan, 2019).
According to several proponents of the resource-based approach, competitive advantage is gained through the possession and control of resources and skills within a single firm. As a result, a company’s resources are put to use in order to acquire a competitive advantage.
For example, Wright M (2019) contends that firms can pool resources in creative ways across organizational borders to gain a competitive edge. Furthermore, organizations such as Multinational banks offer training, education, and upgrading skills and experience that can help in attracting and retaining excellent people resources (Calabr A et al 2021). As a result, obtaining access to key resources that extend outside a Multinational bank’s boundaries may help an organization establish and sustain a competitive advantage (Dionysus & Arifin, 2020), organizations that are ready to make relation-specific investment and incorporate best practices in human resource management in novel ways can increase performance and efficiency.
The Resource-Based Theory upholds that companies create a sustainable competitive advantage using strategic resources that are valuable, rare, nonsubstitutable, and difficult to imitate (Davis & DeWitt, 2021). Multinational banks have highly skilled and qualified employees as human resources. This is achieved through the thorough recruitment, selection, training, and maintenance processes.
Human Capital Theory
Becker proposed the human capital theory in 1964. The main contention of the theory is that human resource is a critical component for the competitiveness of a firm. The proponents of the theory argue that the optimization of employee’s abilities by an organization has a significant impact on the overall ability of the organization. In essence, an organization that has mechanisms of tapping the most qualified employees in the market and optimizes the capabilities of these employees has a comparative advantage over other organizations in the industry.
According to the theory, employees are of great importance in a firm because without them the organization’s productivity is compromised. Organizations have to view their employees as investments and essentially form part of its capital. On the same vein, Scarborough and Elias (2002) opine that perceiving human capital as a bridging concept adds value to the organization since in this way, the relationship between human resource practices and organization performance is made clear. Human resources is the most important firm of organizational capital since they have the ability to learn and be innovative in a way that is responsive to the changing dynamics of the market. Proper management of the human resource capital will result in the long-term survival of the firm. The theory is useful in understanding the contribution of employees to the performance of an organization (Davenpory, 1999). The theory was thus
instrumental in the determination of how human resource management practices impact employee performance who in return work hard to ensure multinational commercial banks are performing well.
Maslow’s Hierarchy of Needs
Developed by Abraham Maslow, the psychological idea in Human Motivation Theory proposed five hierarchical levels of universal human needs: physiological, safety, social, self-esteem, and self-actualization needs (Suyono & Mudjanarko, 2017). The theory mainly defines need and satisfaction because each person’s taste needs vary. An individual can never be satisfied since another arises once the needs are met. Psychological needs are the most basic and include clothing, air, water, food, and shelter, among other biological needs (Stewart et al., 2018). The theory states that this is the most important of all needs and is at the lowest level in the hierarchy chain. Psychological needs in a workplace could include the basic salary that an employee needs to survive. Safety needs come second and are the second most important to people after psychological needs (Hopper, 2020). It means individuals feel the need to be free from any sort of dangerous situation like threats and disasters. Workplace safety is a priority here, and employees need to be provided a workplace free from injury and harm. Social needs come next after safety needs, and they include associating and belonging to a society and may include good leadership, teamwork, and a friendly working environment (Stewart, 2018).
Self-actualization needs follow social needs in the hierarchy. They are often related to self-respect, self-confidence, achievement, respect, and independence (all these being self-esteem needs) (Suyono & Mudjanarko, 2017). These needs motivate an individual to work hard both in life and at work and even work harder at work to gain recognition. Self-actualization needs are areas where people recognize their unique talents and work on themselves to become what they desire to be (Hopper, 2020). Employees in Multinational Banks often interact with customers directly and hence represent the organization to their customers. Thus, Abraham Maslow relates human performance to the satisfaction of their needs. The theory suggests that humans seek to satisfy the lowest level of needs, which are physiological needs, and in this case, salary is an example of such needs. Multinational banks have policies for appropriate compensation mechanisms, including salary and bonuses, to motivate their employees to work harder, increasing the organization’s productivity.
Human Resource Management Practices
Human resource management, according to Kianto (2017), is the activity in organizations and policies that influence behavior. Choosing human resource requirements, reference checks, recruitment, training, reward, and evaluating, as well as labor relations, health and safety, and fair considerations, are all part of the activity (Emeagwal & Ogbonmwan, 2018). Human resource practices have been described in terms of several characteristics, including a system that captures the attention of employees, improves their experience, encourages them to work, and also keeps them for a period of time so that the employees can comply with the effective conclusion and continued existence of the business entity and employees (Wright M, 2019). Some HR practices have been viewed as a collection of dependable guiding principles that are implemented as part of a strategic plan to ensure that an organization’s personnel contribute to the attainment of the institution’s objectives (Papa et al., 2018).
Human resource management practices, according to Gary Dessler (2018), also include the formulation and implementation of human resource systems, which are the human resource policies and activities that produce the employee competencies and behaviors required to achieve an organization’s strategic objectives. Human resource management practices enable an organization to adapt to a changing business environment, fulfill consumer requests, and improve the company’s overall performance (Guest 2019). Human resource practices can also assist organizations in lowering costs, improving operational efficiency, increasing innovation, revolutionizing capability, and improving employee performance (Wright M, 2019) ).
Human Resource Management Procedures
To begin, human resource planning entails a set of procedures and processes for making long-term goals and strategic decisions for the institution. Such programs have a significant external focus that extends throughout the majority of the institution (Wright M, 2019) ). The primary goal of such plans is to establish the institution in a position of long-term viability, value, and expansion. Second, the process of identifying and selecting suitable individuals with the necessary abilities in a timely manner (Papa et al., 2018). Internal and external sources of recruitment include those conducted through colleges, universities, and other institutions. The organization can create a pool of potential employees by recruiting (Kianto, 2017).
Training and development is the process of educating new and existing employees of an organization the skills they need to do their jobs properly (El-Ghalayini, 2017). The overarching goal of training is to help the institution realize its essential purpose by providing value to its most valuable resource: its people. According to Papa et al., (2018), training is designed to help learners gain the knowledge and skills they need to succeed in their current occupations.
Furthermore, remuneration and rewards refer to any type of monetary or non-monetary benefits provided to employees as a result of their employment. It is critical to note that it is divided into two parts: direct monetary payments (salaries, paychecks, incentives, promotions, and other monetary incentives) and non-monetary payments (insurance, pension, and vacation, among others) (Emeagwal & Ogbonmwan, 2018).
Employee relations must also be taken into account, as they affect almost every area of human resource management. Organizations must strive to build positive relationships with their employees and allow them to participate in movements that will aid them in negotiating for their own welfare in times of conflict. Employee relations is alive not just to formal but also to informal interrelationships that, if not adequately handled, can have a detrimental impact on the firm (Kianto, 2017). Employee rewards are important drivers of performance since they are one of the benefits that employees receive from their employers (El-Ghalayini, 2017). Rewards should not necessarily be based on monetary gains. While monetary incentives are desirable, not all employees will find satisfaction in them. As a result, employees want comprehensive rewards that cover not just their financial but also their psychological needs (Hopper, 2020).
Human Resource Management Practices in Multinational Commercial Banks
In service organizations such as multinational banks, employees (human resources) interact directly with the clients or customers. Banks’ businesses involve dealing with other people’s money. High vigilance and special care are essential for employees working in banks. The Strategic Human Resource Management policies that multinational banks should often implement include educated, smart, dynamic, and highly-skilled employees to create and maintain the organization’s positive image (Chaudhary, 2019). The application of training and development systems is suitable for human resources development. The policies also facilitate the formulation of the organization’s competitive compensation package. In addition, there are often rigid recruitment procedures to ensure employees obtained are highly qualified. Appropriate and fair promotion and performance appraisal systems are designed to motivate the employees. Retirement policies are present to increase the organization’s effectiveness and efficiency.
Dubey and Gupta 2019 illustrated through their study innovative human resource practices employed in the Indian banking sector, including multinational banks, from the Human Resource Manager’s perspective. They include innovative training and development practices such as tests in the form of written examinations for employee trainees aimed at protecting employees from biasness (Dubey & Gupta, 2019). It was employed in ICICI bank, a multinational bank operating in 17 countries, including India. Customized or special training programs are designed for employees at different levels in banks, which are employed at State Bank of India, a multinational bank in over 31 countries. Other practices include encouraging the application of training learning, arrangement of special projects, and employee continuous training need assessment.
Munuve’s (2019) research on Human Resource Practices in the National Irrigation Board of Kenya found that organizations with compensation policies had high-performance levels. She also realized that the entire human resource process (planning, recruitment, selection, compensation and reward, training and development) influences employee performance (Munuve, 2019). The research was primarily on the NIB-Kenya but generally cuts across organizations, including multinational banks. In addition, Abosede et al., (2018) findings on Human Resource Practices impacts on Nigerian Banks suggested that bank executives employing Reward Management (RM) and Employee Performance Management (EPM) policies would enhance banks’ performance (Abosede et al., 2018).
Relationship Between Investment in Human Resource and Multinational Banks performance
In today’s commercial world, the topic of human resources has received a lot of attention.
Human resource, according to El-Ghalayini (2017)., is defined as the human characters within the firm, as well as the accumulated intelligence, expertise, and information that defines the enterprise. Instead of financial and physical hard capital, human capital refers to intelligence, practice, skills, and associated soft assets (Munuve, 2019). Human people are regarded as a valuable commodity, and human resource is regarded as an important component of intellectual capital. Human capital theory, which was developed in the 1960s, helped to solidify the concept of human capital. The concept of “human capital” is critical for increasing the competitiveness of a company’s assets and personnel, as well as preserving a competitive advantage that increases financial efficiency. This argument emphasizes the significance of human capital in a company’s financial performance. There are large positive correlations between company size, category, and profitability (Munuve, 2019). Human resources are the inviolable commodity offered by workers to their employers, according to Davenport (2019). Individuals have natural abilities, behaviors, and personal vigor, according to him, and human capital is made up of these basic qualities. Academic definitions of bank performance differ. However, in the context of strengthening human capital, clear explanations for bank performance could be proposed. Business performance can be divided into two categories: financial and non-financial. The percentage of sales, income, and resources utilized, as well as the return on assets (ROA) are financial measures. The convergence of financial as well as nonperformance is emphasized in the modern performance management paradigm. Some of issues with traditional intervention are solved by linking financial indicators such as customer experience, performance of the organization, profitability, and innovation. On the other hand, non-financial, are inherently problematic. “Human capital is a significant source of long-term competitive advantage for a corporation” (Alnoor A, 2020). As a result, investing in best human resource management practices by multinational banks will improve staff productivity and financial performance. Individuals’ knowledge, skills, and competency are developed, which increases the organization’s human capital. As a result, people are more prepared for work, and the bank as a whole benefits (Mathis & Jackson, 2022). The resource-based hypothesis, which maintains that costly, limited, difficult-to-replicate, and non-substitutable resources are the most desirable, forecasts a firm’s long-term success. These strategic resources can be used to lay the groundwork for the development of firm capabilities, which can lead to increased corporate performance over time.
Human resource development and multinational banks performance
Investing in best practices in human resource management by Multinational Banks is cost-effective since the entire predicted returns (cash flow) outweigh the acquisition expenses (Absar et al. 2021). As a result, determining the efficacy of a training operation only on the basis of its costs is inaccurate (Abosede et al., 2018). This decision is frequently more expensive than lowering the cost of insufficient learning. As a result, because it reflects positive evaluations of improvement, the reverse technique to measuring the efficacy of training’s monitoring benefit (contribution) might well be adopted. Any action that increases a worker’s efficiency (productivity), such as training, is a resource investment. And planning is a critical component of investing in human resources. This refers to the skills and expertise that someone requires and offers in order to improve their ability to perform critical economic tasks. In addition to the necessary training for a profession, or occupation, labor market analysts now realize the importance of obtaining experience beyond minimum qualifications in order to keep, expand, and upgrade skills throughout one’s working life. This form of training is known as career advancement for persons in other industries and occupations. Fraser et al. (2018) describe and apply a panel-data technique based on secondary data to examine the impact of the staff training framework on business development, revealing a favourable link for some small businesses. Garcia (2017) demonstrates a link between company performance and training strategies. Aragón et al. (2017), on the other hand, establish a link between training tools and business outcomes. According to Glaveli and Karassavidou, the relationship between training and organization must be unlocked (examined), and they employ primary data analysis to create the relationship with job satisfaction. Multinational banks should provide training and development opportunities for its personnel to help them focus on the information and skills they need to improve their performance.
Employees can benefit from training and development opportunities that assist them in acquiring new skills or updating old ones in order to boost overall productivity and efficiency. Employee productivity and efficiency are increased by staff training. Employees that have received adequate training deliver both quantity and quality outputs (Garcia,2017). If employees are adequately trained, there will be less waste of time, money, and other resources. Given the potentially costly consequences of staff turnover, multinational banks are looking for ways to retain employees. Employee turnover can be reduced by investing in employee training and development.
CHAPTER 3: RESEARCH METHODOLOGY
This chapter explains the research method that was used to conduct the study. The research design, data collection methods, sampling procedures, and data source and analysis criteria are all covered in this chapter.
A research design’s goal is to ensure that the evidence you collect allows you to answer the research question as clearly and objectively as possible (Imenda, 2014). Because it is useful for gathering data from a population of interest at a certain point in time, a cross-sectional survey approach was utilized in this study. This can lead to inferences that reveal trends and attitudes, as well as the ability to generalize the findings of the research study. The study is solely descriptive in nature. A descriptive study is essential to the research process since it helps to demonstrate the existence of a problem and can lead to further research and theory development.
Non-probability sampling was utilized in the study, which is a strategy in which a researcher selects a sample based on their objectives. This technique has been widely used in social research in situations when the population is not clearly defined or consists of a small number of persons (Battaglia, 2011). According to the International Labour Organization [ILO], purposeful sampling, also known as judging or expert sampling, is a non-probability sampling method that is “representative” of the population of interest without obtaining samples at random (2009).
In this study, a purposive sample was obtained by employing expert knowledge of multinational commercial banks to select a non-random sample of elements that reflected a cross-section of the population.
Primary data is the information acquired directly from the source either by interviews, questionnaires, observation, experimentation, or surveys (Rabianski, J. S. 2003). For this research, primary data will be gathered using electronic standardized questionnaires. The questionnaires being a primary data collection method is beneficial since it provides exclusive outcomes directly from the selected sample (Rabianski, J. S. 2003). The disadvantage of using primary data sources is biasness from the respondent.
Secondary data is information that is available to researchers for use but can hardly be associated with to statistical unit since it’s already been collected through primary sources (Rabianski, J. S. 2003). Secondary data is the starting point for this research since is used to point out the different theories associated with consumer purchasing behaviors and actions. With the aid of secondary data, this study has scrutinized available literature review, previous research on the research topic pointed out the theory that the research is based on. Secondary data was also used to understand the research outcomes from the primary data.
The questionnaire for this research proposal uses closed-ended questions and has two sections which are respondent profile and personal information and purchasing information. The questions were also based on a 5-point Likert-Scale. Primary data is obtained, compiled, and disseminated for some purpose, as Kumar (2010) argues, for first-hand information. Because the replies were ready for analysis, the structured questionnaires were used to make the analysis easier. The questionnaires were shared with the respective respondents through email. A follow up email and reminders were sent to the respondents, ensuring feedback was given. Though there was time limitation, we obtained feedback from the respondents which are the basis for the findings and conclusions arrived at.
The study used both descriptive and inferential statistics while investigating the research question. The data collected was analyzed using SPSS and briefed as a descriptive statistic in the findings and in giving specific conclusions of the sample used. Inferential statistics, achieved by the use of multiple regression models, was used to link the collected data to anchoring theory. The collected data was presented using graphs, tables, and charts.
Reliability and Validity
Reliability of research refers to the degree of accuracy in data collection through sampling and consistency in research results over time while using the same methodology (Lakshmi, S., & Mohideen, M. A. 2013). Validity evaluates the connection between theoretical, and empirical framework and the research results (Lakshmi, S., & Mohideen, M. A. 2013). To ensure reliability and validity in this research proposal, the questionnaire designed, had no technical terms, and was in an understandable structure. In addition, the questionnaire was issued to ten friends for testing and their responses align with the questions, showing the respondents can easily understand and answer the content of the questionnaire. The validity of this study can be confirmed by the different sources of secondary information used to establish the research proposal.
DATA ANALYSIS, PRESENTATION, AND INTERPRETATION
This chapter entails data analysis, interpretation, and presentation. The purpose of the study was to establish the influence of human resources management on the Financial Performance of Multinational Commercial Banks. Data was acquired through descriptive and inferential statistics. The data sources were from the questionnaire, for this research proposal uses closed-ended questions and has two sections which are respondent profile and personal information and purchasing information. Data was collected based on the variables of the study, that is [employees’ performance] portrayed by the human resource planning, recruiting and selection, training, and development, remuneration and reward, and employees’ interactions.
Years of Service with Current Employer
According to the chart below, most respondents have worked for the multinational banks for more than six years. Twenty nine percent of the respondents had worked at the banks for two to six years while same percentage had worked for less than two years. This is a clear indication that the respective human resource practitioners had extensive experience working at the banks hence were in a better position to respond on the impact of the human resource practices to the performance of the banks.
Chart 4.1 Years of Service
According to the below chart, thirty eight percent of the respondents reported that their multinational banks have over two hundred employees, forty two percent have below fifty and twenty one percent have between fifty-one to one hundred employees.
Chart 4.2: Bank Size
Human Resource Practices
Human Resource Planning
Human Resource Planning Practices Mean Scores
For more than a decade, my bank has been engaged in strategic HRM planning.
My bank’s human resource plans are linked to the overall strategy of the bank..
Our bank’s human resource plans can serve and meeting the bank’s ultimate purpose.
Valid N (listwise)
CHAPTER FIVE: CONCLUSIONS AND RECOMMENDATIONS
This chapter discusses the results about the impact of Human Resource Management Practices on Multinational Banks’ Financial Performance.
The aim of the study was to explore the impact of Human Resource Management Practices on the Financial Performance of Multinational Banks. Findings of the study findings are based on various human resource management practices namely HR planning, recruitment and selection, reward management, training and development, and career planning.
Human Resource Planning is a crucial human resource management activity that ensures Multinational Banks get the right number and types of workers in the right places, capable of successfully and efficiently carrying out their obligations. HRP programs that are implemented on a regular basis help banks manage labor risks associated with high staff turnover rates and changes in both internal and external organizational environments. HRP helps banks accomplish their overall financial performance goals by ensuring that their workforce is optimal and adaptive at all times. Human resource planning occurs at a variety of levels, including corporate, intermediate, and operational levels, as well as for short-term objectives. A successful human resource planning exercise should involve input from all departments as well as the organization’s performance strategy. It also requires the assistance of top management, which provides proper policy direction and commits sufficient resources to support the set business objective. By conducting human resource demand and supply projections, human resource planning objectives, the design of human resource planning programs, and the evaluation of human resource planning programs, human resource planning should be linked to the larger organization’s performance strategy.
Employee recruitment and selection is a significant HRM practice that has a substantial impact on the success of a bank. Ineffective recruiting and selection processes result in the hiring of less competitive workers who lack the requisite skills to carry out the bank’s job responsibilities. These have a detrimental impact on a bank’s financial performance because multiple expensive recruitment exercises are carried out on a regular basis, rising the total cost of recruitment expenditure and lowering the bank’s profit margin. A lack of an effective recruiting and selection policy that meets the bank’s strategic difficulties impedes the recruitment of competitive staff, preventing the bank from meeting its performance goals. It should be noted that job analysis, job description, personnel specification, and job placement are the major aspects impacting the employee recruitment and selection process in banking organizations. The method by which the organization controls these issues has a substantial impact on the effectiveness and success of the recruitment process in increasing the realization of higher bank financial performance.
Performance management is a crucial human resource management method that aids in determining an employee’s performance inadequacies and the activities that should be taken to improve the person’s level of performance. The lack of periodic performance assessments makes it difficult for bank management to recognize workers’ performance flaws and strengths, making it impossible to adopt a performance management strategy that is consistent with the bank’s overall performance strategy. Ineffective performance appraisal methods have a detrimental impact on identifying employees’ performance needs, resulting in the realization of a bank’s financial performance drop. Bank human resource managers can use performance appraisal to establish promotion strategies for productive employees. In this strategy, inefficient staff may be sacked or demoted as needed. Performance appraisal aids in the development of employee remuneration packages. Performance evaluation enables merit grading. The goal of performance appraisal is to assign a monetary value to a performance. Performance evaluation is used to decide pay packages that include bonuses, high wage rates, supplemental perks, allowances, and pre-requisites. The criterion should be merit rather than seniority. Human resource management can design training plans and programs with the use of a structured procedure of performance evaluation. It aids in the examination of an individual’s strengths and weaknesses, allowing new jobs to be created for efficient workers. It also helps with future growth planning.
Employee incentive schemes have contributed significantly to enhanced bank performance. Employee incentives can be both real and intangible, such as monetary bonuses, recognition, increased decision-making authority, or the potential for professional development. Positive employee recognition provides numerous benefits to a company, one of which is enhanced staff retention. Employee incentive programs encourage employees to strive for higher levels of performance. Employee morale improves as a result of reward systems, which leads to increased job satisfaction and participation in the execution of bank job task functions. Effective reward systems, such as transactional and relational rewards, play an important role in reducing employee turnover and keeping competent individuals to complete organizational job task duties. This results in improved bank service quality and a competitive advantage in the target market, which leads to improved financial performance as a result of increased sales revenue. Effective reward systems are supported by the creation of award rules that link a bank’s incentive practices with its overall performance strategy. This allows the bank to deliver bigger benefits to employees, such as cash bonuses and job promotions, in order to compensate for their efforts, resulting in increased employee job satisfaction.
Training and development is a crucial human resource management activity that supports Multinational Banks in achieving enhanced financial performance. However, the absence of a well-established training and development policy that is linked to the bank’s overall performance plan makes it difficult for the bank’s human resource management to deliver training and development programs that contribute to increased bank performance. Training and development should give bank employees with additional information and abilities on how to perform various bank job tasks activities, resulting in increased employee productivity. Training comprises developing employees’ abilities and knowledge in order for them to do a specific job. Training aims to increase employees’ performance in their current jobs while also preparing them for future jobs. Learning is an important outcome of training. Training programs should aim to: prepare employees to meet the varying and challenging needs of the job and organization; provide knowledge and skills to new entrants and assist them in performing their role and job well; coach employees for more complex and higher level jobs; and educate employees on new and innovative ways and techniques of performing job duties.
Career planning needs both corporate and individual accountability. Individuals must identify their aspirations and abilities, and understand their training and development needs through assessment and counseling; organizations must identify their needs and opportunities, plan their employees, and ensure their staff has the necessary information and appropriate training for career development. Career planning is critical to achieving increased financial success in banking institutions. Career planning is the central process in career management; it translates all of the information provided by the organization’s requirements assessments, performance and potential assessments, and management succession plans into individual career development programs and general management development, career counseling, mentoring, and management training arrangements. The approaches for career planning are constantly determined by the needs of the organization. They must understand, however, that disregarding human needs will not meet corporate needs. Diversity management must be a consideration in career planning. Individuals are more motivated by organizations that react to their aspirations and needs; individuals can grow, adapt, and seek new directions if given the right opportunity, support, and guidance.
Human Resource Planning
Human resource management should implement strategic human resource planning programs that are tied to the overall bank strategy to guarantee that human resource planning contributes to the enhancement of Multinational Banks’ financial performance. Human resource plans should be longer than ten years in order to aid in the development of new skills, the upgrading of current ones, organizational transformation, and the management of uncertainties and risks induced by large changes in environmental conditions in the medium to long term. Banks should carry out human resource planning by performing the following activities: forecasting human resource demand and supply, setting human resource planning objectives, designing human resource planning programs, and evaluating human resource planning programs.
The outcomes of a human resource environment scanning procedure should be included into the human resource planning process to successfully forecast human resource demand and supply. This could involve a demographic analysis to determine present and future human resource needs, such as the number, knowledge, skills, and competences of workers required to achieve the ministry’s objectives. Multinational banks should establish defined HRP goals. Human resource planning must leverage personnel recruitment, development, and retention to fulfill corporate human resource planning objectives. It must also assess the current workforce and consider how it relates to future job requirements. Human resources can use many sorts of planning to fulfill future labor requirements by attracting, training, and retaining quality employees.
Multinational Banks should use a competency-based management approach to support the integration of human resource planning with business planning by allowing organizations to assess current human resource capacity based on competencies against the capacity required to achieve the organization’s vision, mission, and business goals to improve the effectiveness of designing and implementing human resource planning programs. Finally, the bank’s human resource management should evaluate HRP programs using computerized human resource planning processes, evaluation and monitoring systems that collect and report updated data on progress toward achieving human resource planning objectives, as well as whether or not HRP programs are aligned with the bank’s overall strategy.
Recruitment and Selection
Assist banks in enhancing their financial performance through the recruitment and selection process. Human resource management at the bank should create a recruitment policy that is in line with the firm’s overall strategy. The techniques of recruitment used by the bank should always be in conformity with the policy’s requirements.
To improve staff recruitment and selection, banks’ human resource management should design and implement effective job analysis methodologies. Banks should implement computerized job analysis systems, such as Enterprise Resource Planning Systems and other human resource information management systems. All organizational job task functions should be adequately identified and characterized by the bank’s human resource management, and actions should be done to ensure that all job task functions correspond to the job title. The bank’s human resource management should undertake rigorous personnel specifications to ensure that all employees hired for various job positions fulfill all of the firm’s criteria. Finally, the bank’s human resource management should develop and implement an effective job placement program to avoid organizational disturbances during the transition of responsibilities from departing or old employees to newly hired personnel. The company should create strategies to manage job mobility and human churn to alleviate job placement concerns.
Multinational banks should conduct frequent performance appraisals to improve performance management by putting in place performance appraisal processes that are aligned with the bank’s overall strategy. Maintaining records in order to determine compensation packages, wage structure, and salary raises; identifying employees’ strengths and weaknesses in order to place the right men on the right jobs; maintaining and assessing a person’s potential for further growth and development; providing feedback to employees regarding their performance and related status
To ensure that multinational banks’ employee incentive programs lead to improved financial performance. Human resource management should create and implement an active reward policy that is in line with the bank’s overall objectives. Employee benefits should be appropriate to their efforts, according to the reward policy. Employee incentive schemes should aid multinational banks’ management in achieving their goals. However, Multinational Bank HRM should first identify stated incentive objectives before establishing physical and intangible reward systems. Important goals like employee retention and work happiness, performance growth, and employee motivation should be prioritized since establishing the desired outcome of employee reward programs makes them simple to achieve.
Training and Development
To boost training, multinational banks should have an active training and development policy for its employees. The training and development policy should be in line with the bank’s overall strategy. The following stems should be accepted by bank human resource management in order to strengthen training programs. The training needs of each employee should be determined. It is necessary to create programs that are most suited to their needs. The trainer should make it clear which areas the workers will be trained in. The trainer must be able to manage his or her time effectively. Training should be offered in a way that keeps the trainee interested in the job. The job’s logical progression should be explained by the trainer.
To improve career planning and ensure that Multinational Banks have effective career development programs, an effective career planning policy that is linked to human resource strategies and the bank’s overall strategy should be designed and implemented. In order to address the current and future human resource demands of banks, employed career planning programs should encourage the growth of existing human resources. To implement career management policies, achieve succession planning objectives, and improve motivation, commitment, and performance in general, career planning programs should use all of the information generated by succession plans, performance and potential assessments, and employee self-assessments. The strategies used should cover personal development planning, training and management development, mentorship, and career counseling.i
Limitations of the Study
The study encountered circumstances in which some respondents failed to fill out and finish questionnaires, poor responses to questionnaires, and unanticipated occurrences such as respondents leaving before completing the questionnaire. This was reduced by reminding responders on a regular basis while they were filling out the questionnaire. Descriptive research is adaptable in that the original study (tools and tool administration) must remain constant throughout data collecting (Mugenda and Mugenda, 2003).
Because it was regarded against the bank’s secrecy policy to divulge the organization’s secret topics, most of the respondents were barred from responding some of the questionnaires. As a result, the researcher submitted an introduction letter obtained from the college to the organization’s management, which helped to avoid suspicion and allowed the organization’s management to give most of the information requested by the study.
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