The Royal Bank or investment company of Scotland is one of the retail bank subsidiaries of the Royal Bank or investment company of Scotland plc, as well as NatWest, provides branch bank facilities such as retail and corporate and business banking, financial markets, consumer financing, insurance and prosperity management services in United Kingdom. It really is founded in the year 1727. The RBS mind quarter is situated in Edinburg, Scotland. It's got around 700 branches, mainly in Scotland though there are branches in many bigger towns and metropolitan areas throughout Britain and Wales. The RBS received a approx work force of 141, 0002 employees.
The Jobs and opportunities at RBS
RBS is seen as a world-class company and make sure this by giving world-class employment opportunities. The RBS recruitments are exclusively located in Merit. RBS is a fast growing company. In like manner keep its daily development in track, it has to attract a continuing way to obtain highly talented people. To help the students to start out their employment opportunities, the RBS even offers programs either from university or college or university or after graduation from college or university. The job options include bank, sales and customer service, and business support roles such as funding, risk analysis and RECRUITING.
Corporate Responsibility
RBS approach
It can be well clear that certain requirements and practices of each country and each among all their business are completely different from each another. The aims for managing most of its employees are constant. Since the RBS wants their employees to give their best and secure their continued dedication, they only want the best people to be with their team. Hence they try to attract them by giving them the best packages and the perfect suiting tasks to be monitored.
RBS is proud to guage them as an prize winning Individual Capital Strategy where they can provide their business sellers a detailed knowledge of how effective they are simply attracting, keeping and engaging the best people and how the business is being well toned and looked after and influenced by this.
The 'Individual Capital Toolkit' is also an important strategy of RBS. The 'Individuals Capital Toolkit' is an online resources that give HR staff to a desktop access to a range of diagnostic tools, benchmarking resources and staff research and measurement tools. The comprehensive understanding of their performance rewards these to continually improve on their approach.
Employee Practices
Work Life
Every successful company wants to make the workers of these company to be satisfied with all the requirements. Even in their personal life. Hence as a successful group, RBS wishes each and every employee of the group to be happy with all the needs/ They add this by installation of the expectations they may have for their employees clearly, allowing them to work flexibly whenever appropriate and making sure that they feel to have interaction between or come after with views and makes these to speak out when they run into unacceptable behavior in the workplace.
The RBS Code:
To maintain the dignity of their Group and as the RBS want every single staff in the Group to similar and to set out their standards of their behavior, they except all of their Group-wide Global CODE OF CONDUCT (For instance: - Behavior, attendance, dress code, controlling diversity, Dignity in work, performance management, No smoking policy, Accident reporting, Records Management, Protecting the Group's information-assets and systems. . , etc. . ). This allows them to steer all their individual activities. In 2006, they prolonged the number of languages where it can be found, and even with the release of a Chinese version.
The Adaptable working Policies
The YOURTIME policy enables the RBS employees to work in adaptable and valued time by them. They are being made a decision by their specific needs and requirements, within the platform with their business requirements. This award-winning effort incorporates a range of options including compressed hours; term-time working and even the average person can either choose to work from their own house.
In 2007, even they increased the range of options with the release of Foster Leave, which entitles parents of new foster children to five days and nights of paid leave yearly to permit a 'settling in' period. Even it did not fail to lengthen the highest timeframe which employees may take off under their short-term employment break coverage, from three to six months. These Versatile working guidelines can be well valued that over 22, 600 employees in 2006 required advantage of flexible working plans.
Freedom of Association
RBS recognize Employee Consultant Organisations like the Trade Unions and Works Councils, in several businesses and countries. Their Western european Staff Communication Council includes employee associates from over the EU to be enlightened on strategic improvements across the Western Region.
RBS Occupation Models
Applied Model Theory in RBS :
The RBS HRM strategy can be exactly well identified with both FACTOR THEORY of Herzberg. The proposed subtitles discuss in the theory can be effectively used to use and define the RBS HRM strategy. Hence I've used the factors of TWO FACTOR THEORY to explain my viewpoint and my reviews about the RBS. Even there are few more ideas that may be utilized to describe the HRM strategy. So as a main request I've used the TWO FACTOR THEORY and highlighted with the similarities of other ideas as well.
TWO FACTOR THEORY :
Herzberg proposed the Motivation-Hygiene Theory, also called the TWO FACTOR THEORY (1959) of job satisfaction. According to the idea of Herzberg, he mentions that the folks are mainly influenced by two factors:
SATISFACTION :
Satisfaction is primarily the consequence of the motivator factors. The motivator factors help increase satisfaction but have little effect on dissatisfaction.
Motivator Factors:
Motivator factors are mainly predicated on an individual's need for personal expansion. Job satisfaction is actively created by motivator factors when these are present. An individual can be made to accomplish their performance and work above average when they are being effectively motivated.
- Achievement
One of the successes of RBS is the fact it uses over 140, 000 people is a variety of 30 different countries.
- Recognition
RBS has been considered as one of the better employer surrounding the global as it's got a good influence in its services to its clients as well as to its employees.
- Challenging/ stimulating work
RBS employees are being satisfied dealing with this Group. This is because they clearly point out the services they expect from other employers. Even they allow their employees to work flexibly as so when ever within an appropriate time. Even the staff opinions and suggestions are used account critically. The RBS understand the Employee Consultant Organisations, such as trade unions and works councils.
- Responsibility
The RBS understands well about how exactly their employees feel about dealing with them. This allows them to respond to the employees growing needs. After considering, the employees can in exchange could possibly be the best. Even RBS on the yearly basis using their confidential and independently administrated Employee Judgment Study (EOS) to explore staff Satisfaction Levels across the Group. Composed in seven dialects, the survey is delivered to the 140, 000 staff individually either in some recoverable format or online based on the business gain access to. They achieved a response rate of 87% in 2007. The feedbacks have helped the RBS to focus on their ongoing HR strategy effectively.
- Promotion / advancement
Identifying and growing talent by any means levels is a groundwork of the long term is the success of RBS business. Training and development also drive employee satisfaction and fulfillment. Over the Group, 71% of employees believe that they have the ability for personal development and development. They use the Harvard Business University and employee in sight consultants ISR on our group-wide 'Service Superiority through People' initiative, which brings together key people, sales, service, output and financial methods. This recognizes the authority and development traits which have the most impact on performance.
Individuals need effect over their own development plans. RBS uses an internet learning management system, Access to Learning ( A2L ), which permits specific employees to refine and observe their development programs. And to make it as an more enlightened meetings, the professionals are made in a position to review both professional and personal strategies in advance of in person discussions.
RBS also work out programme to activate and develop their people. It helps the folks from every level of the business together to suggest and implement improvements to all our systems and practices, right from the mortgage loan applications to the extreme to the branch improvement programs.
- Growth
In about 1849 occasions in 2006, around 23, 000 employees were involved and do generated about 139. 3 million pounds. The RBS officially address that this has greatly exceeded their focuses on. And this success of 2006 has included a 25% reduction in the retail travel and entertainment budget.
DISSATISFACTION:
Dissatisfaction is mainly the result of cleanliness factors. These cleanliness factors, if absent or limited, cause dissatisfaction, but their existence has little effect on long-term satisfaction.
Hygiene Factors
Hygiene factors derive from the necessity to avoid unpleasantness at work. If these factors are considered insufficient by employees, they can cause dissatisfaction with work. The health factors include :
- Pay and Benefits
The RBS select benefits allows their workers to customise their personal needs relating to their specific circumstances and their personal situations. They provide better advantages to their employees by the periodically managed
RBS highly rewards for the employees based on their seniority and ability. At can be obviously agreed while seeing that in 2006 they have delivered an additional 10% of basic salary for the ninth consecutive 12 months. Around 112, 000 staff benefited from it. Every individual received typically 2200 pounds. It totaled a amount of 242 million pounds.
- Company Coverage and Administration
To deliver superior sustainable value, RBS run their own business with integrity and openness, delivering most effective financial results within clearly defined business rules.
To improve their administration, in 2006 they strengthened that extent and rigor with their consultation using their stake holders.
- Relationships with co-workers
The authority is being well put in the RBS and their responsibilities are being well defined. There is a mutual understanding between the co-workers to complete their process effectively and with complete co-operation.
- Physical Environment
Since all the needs of employees in RBS is well satisfied, they may be described to be maintained in a friendly environment as they unveiled the foster insurance plan for the parents. Flexible working plans can be well loved that over 22, 600 employees in 2006 needed advantage of versatile working regulations.
These kind of regulations which RBS methods will allow its employees to be on the keep track of with a perfect Physical Environment.
- Supervision
RBS have an award winning People Capital Strategy that provides their business leaders a detailed knowledge of how effectives they are at attracting, participating and keeping the best people and exactly how all these guidance and method of the employees drives the business performance.
- Status
Since working with one of the highly respected company around the world makes the worker and the company to achieve a status. The position can be of the badge of the business, the title they hold, the way by which these are being well respected among others being that they are a member of the RBS family. They well try to addresses to be the best concerning attain this mentioned status.
- Job Security
The employees in RBS are being well satisfied with the security they are having dealing with company. Since they recruit only the main one one of the better people and the department of work given to them will be ONLY talked about to them. This makes these to get stick on to the job so when a well placed chain of employees, there is no probability that they will not be out of job one day as they are unless given by the business as it is promised.
SIMILARIITIES WITH OTHER THEORIES :
I have briefly discussed the HRM strategy of RBS with the TWO FACTOR THEORY. Nonetheless it can be well said that the HRM strategy is also similar to few other theories like the Maslow's Hierarchy of Needs and Self-determination theory. So I'm just outlining these ideas as to supply the similarities with the applied theory.
Maslow's Hierarchy of Needs:
His theory is often depicted as a pyramid consisting of five levels: where the four lower levels are grouped jointly to be associated with Physiological needs, where as the very best level is termed growth needs associated with subconscious needs. The higher need in this hierarchy only makes focus when the lower needs in the pyramid are satisfied. The lower level won't be prioritized when a person is changed from upwards for an top level.
The theory is split into 5 parts :
- Physiological needs
- Safety needs
- Social needs
- Esteem needs
- Self actualization
Even though the Maslow's theory contains 5 parts, it is briefly categorized into two:
- The Classification of individuals needs
- The connection between each classes
From the key factors of the Maslow theory, we can well make out that this has more over a similarity with the HRM Strategy of RBS and the idea which is applied. These items can be clearly considered as a classification of Drive and the methods. Even the Maslow hasn't failed to point out about the Job security and the basic safety of the employees and so forth. This implies that the Maslow's theory can be taken to determine the HRM of RBS.
Self Conviction Theory:
SDT is an over-all theory of human being motivation concerned with the development and performing of personality within sociable contexts. The theory focuses in the amount to which human being manners are volitional or self determined. Within the last three decades SDT has evolved into a couple of four mini-theories that share the organismic - dialectial meta-theory and the idea of basic needs. The theory starts with the assumption that individuals are effective organisms with innate tendencies toward emotional expansion and development, who make an effort to master ongoing challenges and to assimilate their experiences into a coherent sense of self. It is stated that the individuals does not operate automatically, however, but instead requires ongoing nourishment and helps from the cultural environment to be able to operate effectively.
This theory also obviously expresses the similarities between the applied ideas in HRM Strategy.
Agree or disagree
I completely support for the job routines that RBS comes after. Almost all their activities are being well prepared and placed consequently. They evidently know "what" to place "where". Could be this is what the reason they can be succeeded. They use only the best people they can choose from different educational level and job levels. They make their staff to apply a shared understanding between each other. Even the management is well aware of the needs of their workers. So do they gratify almost all their needs and make sure they are to love the work they are really doing. And also they make their business tower to be perfect from the base level itself. And also the RBS will not fail in gaining the trust and support of its workers as by giving their common problems routinely and also by giving them development strategies by training.
Conclusion
To conclude my views over the HRM strategy of RBS, I can say that the business has tried out and effectively received the well successful, well designed, well manipulated and on a single time well trusted employees. This is because that they had a view of how the company should be respected and outstanding in comparison with all the companies. They would have effectively analyzed the theories and case studies of the strategy and EFFECTIVELY applied that taking the micro string from the available world of strategies where others have failed to think it is out. Even the staff at the bottom most level is being motivated like every one in the business. This makes the RBS to be taken as one of the best in HRM management.
Recommendations / Ideas :
I suggest that the business can be in trail and reach high position and an outstanding level in the HRM Strategy if indeed they continue to research their needs and from every degree of view. And they should meet up with the modern inventions and the changing needs of their particular employees.
Reference
1. www. rbs. com
2. http://www. hrmguide. co. uk/jobmarket/unemployment. htm
3. http://www. rbs-retailcareers. co. uk/pages/humanresources. asp
4. http://www. makeitrbs. com/programmes/humanresources/
BOOK REFERENCES
1. An Advantages to Human Tool Management ( 2001)
2. Human Tool Management at the job ( 2001 )
Appendix
Awards (REF: http://www. rbs. com/corporate03. asp?id=CORPORATE_RESPONSIBILITY/EMPLOYEE_PRACTICES/DIVERSITY )
- Gold Prize from Business in the Community's Opportunity Now We received a report of 90% predicated on their 2006 evaluation, 8% greater than our 2005 standard. This was at the same time when the general craze was downward.
- The Times 'Top 50 Places Where Women want to Work' We were one of them list in October 2006.
- Women in Bank and Money Awards In June 2006 several RBS employees were regarded at the Women in Banking & Fund Awards.
- Remploy award for 'remarkable work in helping, developing and using disabled people' at Remploy's at the forefront awards We received this award from Remploy, an organisation which creates self-reliance for disabled people through work, in November 2006.
- 'Royal Relationship for Impairment and Rehabilitation' award RBS was shortlisted for an award in the employment category for 'excellence in recruitment and retention solutions for disabled employees'.
