Abc Assignment Help

Workforce Retention: Chalenges in Financial Services Sector

Assessment The primary purpose of this assessment is to enhance students’ research, analysis

Purpose and referencing skills.

The secondary purpose is to give students the opportunity to demonstrate their critical thinking and written communication skills.

The third purpose is to demonstrate that you have commenced appropriate research for Assessment 3.

Before starting this assessment, please read the assessment rubric at the end of this document. You should always check the unit website for specific instructions, which may be updated continuously.

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

Task articles.

Step 1. Select one of the options for Essay 3.

Read the Assessment 3 Essay options and identify which one you will work on for assessment 2 and 3.

Step 2. Undertake research of the recent academic literature since 2010.

Identify five (5) academic peer reviewed journal articles relevant to the

Assessment 3 Essay topic. These must be aligned to the unit themes from Weeks

1 to 5 (e.g. strategic HRM, ethical legal and safety context, job design, HR

planning, recruitment and selection. It is recommended that you undertake your

research via the online ‘search’ of CQUniversity Library. You cannot use the article from your Assessment 1 presentation for Assessment 2.

Step 3. Write 500 words on each article

For each journal article, write to the headings in the template. These include: ·   full reference

·   outline of research objective and research question ·   outline of the method

·   discussion of the findings

·   summary of the conclusions

·   indication of how this will be relevant for your Essay 3. Place each article on a new page.

Present your Annotated bibliography in format provided in the template. For more information, see the library guide for writing an annotated bibliography.

http://libguides.library.cqu.edu.au/ld.php?content_id=37972692

References APA referencing.   For more information, see : https://www.cqu.edu.au/?a=14033 g

Submitting  All assessments must be submitted through the Moodle site. No email submissions

will be accepted. All assessments submitted electronically through Moodle must be through the Student Portal http://my.cqu.edu.au • Failure to submit electronically will be taken as a failure to submit and therefore a zero (0) score will apply to the specific assessment. No assessment coversheet is needed to be attached while submitting through Moodle

Plagiarism Copy detection software (TurnitIn) is used in this course and work found in

contravention of the copying and plagiarism rules will be investigated. Penalties apply in the case of proven instances of copying, plagiarism and academic dishonesty. Please check the following links to know more about TurnitIn:

http://turnitin.com/en_us/training/student-training/viewing-originality-reports http://turnitin.com/en_us/training/student-training/about-originalitycheck

TurnitIn is only a tool and judgement needs to be used when you view your

Originality Report. TurnitIn does not make a judgement as to what is referenced properly, it highlights the non-original material in a piece of work. You should use the similarity score as a guide only and must then check the originality report to determine whether or not changes need to be made to the assessment.

Required Students must familiarise themselves with the following policies and

procedures at http://policy.cqu.edu.au:

Assessment and examination policy and procedures - Assessment of Coursework Policy

Assessment of Coursework Principles Assessment of Coursework Procedures

Answer

HRMT20024, T3 2018

Assessment 2 - Annotated Bibliography

The key challenges in attracting and retaining a workforce in the banking/financial services sector 

Article 1

Full reference of the article:

Siengthai, S., & Pila-Ngarm, P. (2016). The interaction effect of job redesign and job satisfaction on employee performance. Evidence-based HRM: A Global Forum for Empirical Scholarship, 4(2), 162-180.

Objective and research question: 

The particular research attempts to discuss how job redesign influences the performance of employees within an organizational context. In this research, the authors discover the interaction impact of job redesign and job satisfaction on employees’ performance level. The key purpose of the study is to explore whether both job satisfaction, as well as job redesign, collaboratively create any interaction effect on the performance of staffs, based on the data collected from service sector in Thailand since this sector plays an imperative role in strengthening Thailand economy. 

Method: 

Based on the qualitative research method, the authors designed in-depth interviews that validate the questionnaires with the help of the Job Diagnostic Survey instrument. Two hundred ninety-five managers from resort and banking sector in Thailand were selected as respondents for the survey. The data collected from managers of banking and resort sectors in Thailand were analysed through multiple regression analysis. 

Findings and discussion 

The findings of the research suggest that the relationship between job redesign and employee performance is imperative and converse. Job satisfaction, on the other hand, is positively and related to employees’ performance level. From the collected information, the authors found that employee performance is significantly and positively linked with job satisfaction and job redesign process.  Through the investigation of demographic data of respondents, the authors evaluated that people, who belong to the age group of 37 to 47 years, have significant and converse relationship with their performance. Based on the findings, it can be identified that during the first stage of job redesign, organizations would be able to identify the negative effects that job redesign could create on employees’ performance level. 


When implementing job redesign process in the organization, it is significant for the human resource management to enhance job satisfaction level in order to achieve the elevated performance of employees. Another significant finding is that the implementing job redesign devoid of considering the job satisfaction for employees is a major factor for reduced employee performance level at the workplace. For ensuring job redesign method as an effective human resource strategy to improve the performance of employees, it is imperative for the organization to consider employees’ concerns and factors related to job satisfaction during implementing job redesign method. It was also discussed that the job redesign could be an effective method to enhance employee performance even during the change management. Changes in job commitment influence the performance level of employees negatively.

Conclusion 

The authors conclude that the job satisfaction and employees’ concerns are two most significant factors require to be considered during the implementation of job redesign process in the organization in order to achieve high level of employee performance level. The HR managers need to take account of these factors to implement job redesign successfully and achieve effective outcomes from it. 

How this article will contribute to my Essay 3. 

This article has certainly expanded my knowledge of how HR managers can successfully implement job redesign method in the organization for enhancing employee performance level at the workplace. The understanding and knowledge gained from this article will help me analyse the role of job redesign in influencing employee performance level in essay3. 

Article 2

Full reference of the article:

Parry, N., & Jackling, B. (2015). How do Professional Financial Services Firms Understand their Skill Needs and Organise their Recruitment Practices? Accounting Education, 24(6), 514-538.

Objective and research question: 

In an attempt to analyse the process of recruitment conducted in a highly commercialised and globalised labour market, the authors selected cultural fit as a key theme. The particular research study finds the answer to how professional financial Service firms understand the skill assessment for employees and carry out the recruitment process. Through this research, the authors find the importance of recruiting employee with the same cultural knowledge and understanding as followed by the organization. 

Method: 

This research study was a part of a large research project conducted based on qualitative and quantitative information to develop an analysis of how migration plays a significant role in the labour market of Australia. The authors distributed a total 550 survey questionnaires to the selected Australian large-scale and small-scale professional service firms (PSFs). Total 64 respondents agreed to participate in the survey. Based on the snowball sampling technique, the recruitment officers from accounting firms in Australia were selected. 

Findings and discussion 

Based on the data analysis, the authors found that the cultural fit is a significant factor that most recruitment managers consider when recruiting employees for their vacant job posts. In the case of Australia based professional service firms, cultural compatibility is the central theme for recruiting talent in the organization. Nevertheless, the authors argued that besides being a central theme for recruitment, cultural compatibility also acts a key basis for influencing employees to be professional in a specific organizational environment. It was identified that the large-sized professional service firms tend to recruit more employees in the organization, who are a cultural fit. 

The collected data also suggested that recruitment of migrants often results in a lack of cultural fit in the organization. The authors evaluated that recruiting migrants could be a cultural misfit in the organization, as they often lack generic skills, such as poor English communication skills. However, the previous research studies argued that the generic skills and competencies are only elements of one’s human capital. The research suggested that the cultural asset of migrant accountants often appears to be misfit compared to the social, professional and other generic skills required by large-scale Professional Service Firms (PSFs) in Australia. The findings of the research support the previous research studies that identify cultural compatibility as a significant factor requires considering during the recruitment of candidates.  Australia based large sized PSFs follow organizational mechanisms and multinational regulations as adopted and implemented by companies in other western countries, including the US and Canada to recruit culturally fit employees. Conclusion 

It was concluded that Australian financial companies, especially large-sized PSFs, prefer recruiting employees, who can be compatible with their culture and ethos. These financial companies recruit accountants with Australian nationality. Recruiting migrant accountants often causes skill mismatch for the organization, which leads to affect the productivity of the business. 

How this article will contribute to my Essay 3. 

Based on the gained knowledge and understanding of the significance of cultural fit in the recruitment process, I will evolve further analysis in my essay 3 about how the recruitment manager can capitalise the effectiveness of cultural compatibility when recruiting employees for vacant job posts in the organization and keep away from employees’ skill mismatch issue.  

Article 3

Full reference of the article:

Asrar Mirza, A., & Riaz, S. (2012). Training needs assessment in Islamic banking sector. Qualitative Research in Financial Markets, 4(2/3), 142-155.

Objective and research question: 

In order to manage and design training and development, the Human Resource Management needs to focus on assessing training needs for employees. Evolving the individual efficiency in executing training needs assessment has become a major function for HR specialist or generalist. The key purpose of this research is to explicate the process of training and development related practices carried out by the HRM in the Islamic banking sector. The author focused on analysing the training needs assessment in the Islamic banking industry. 

Method: 

For this particular study, the authors employed a qualitative methodology. The authors utilized the cross-sectional process to accumulate responses from the respondents, as this technique is time and cost efficient. Through survey questionnaires, the relevant data were collected from 100 employees of Islamic banks located in Pakistan. Respondents were selected using random sampling. 

Findings and discussion 

One of the key purposes, why the authors researched on this subject, was to evolve knowledge and understanding of how the HRM of Islamic banks in Pakistan executes training needs assessment. The research outcomes suggest that the HRM needs to focus on more than one training needs for employees. As per the guideline of the higher management of the organization, the training managers prioritize the elements to be augmented in the training and development session for employees. Training managers also need to consider other diverse factors for the assessment of training needs for employees in the organization. For instance, it is training managers’ responsibility to consider all required elements for the success of training focused on attaining specific objectives.

Another significant finding was that the training needs assessment largely support both performance analysis and job analysis, two major functions of HRM. In order to evolve the instructional objectives needed for designing the training and development practices, the HR managers in Islamic banks take account of different information, such as the accessibility of training resources and classification of trainees. Based on the analysis of collected data, the authors found that some of the significant variables of training and development, including performance analysis (PA), career development (CD), job analysis (JA), and knowledge, skills and abilities (KSA), have a positive and significant relationship with each other. The research study also identifies the fact that collecting information from each stage of the training needs assessment process is significant. Among all variables of training and development programmes, performance analysis and job analysis were found having a most significant role in assessing employees’ training needs.

Conclusion 

The concluding remark made by the author is that the performance analysis and job analysis are two most important variables that HRM needs to take account of in order to carry out training needs assessment successfully in the organization. Knowledge, skills and abilities (KSA), career development (CD), job analysis (JA), and performance analysis (PA) refer to the important variables of training and development programs, which are positively interlinked. 

How this article will contribute to my Essay 3. 

In my essay 3, I will discuss in detail about the benefits and challenges of training needs assessment in banking or financial organizations. I will also use the findings of this research in order to support the discussion of how HR managers can overcome challenges in assessing employees’ training needs.

Article 4

Full reference of the article:

Gomes, E., Angwin, D., Peter, E., & Mellahi, K. (2012). HRM issues and outcomes in African mergers and acquisitions: A study of the Nigerian banking sector. The International Journal of Human Resource Management, 23(14), 2874-2900.

Objective and research question: 

The research study is aimed at analysing the functions of Human Resource Management during the merger and acquisition of a business, in the context of the banking sector in Nigeria. In this research, the authors discuss the issues and challenges faced by the HRM post-merger and acquisition of businesses. This particular research study is probably the first attempt that focuses on the discussion related to HRM issues during and post merger and acquisition in the African banking industry. 

Method: 

The inductive research approach was utilised in this research. The authors considered multiple case studies in order to gather data from 19 banks of Nigeria that went through merger and acquisition. The qualitative research design was used in the study since the accessibility of research on this particular subject area is restricted. 

Findings and discussion 

The research findings certainly provided evidence of issues related to the human resource management during, pre and post phases of merger and acquisition. Based on the data gathered from respondents, the authors found that the HRM related challenges are largely influenced by the strategic motives for specific conformity. Another significant finding of the research is that the existence of less consistency between various HRM functions, pre-merger strategies, and post-merger integration. 

It was found that the merging banks in Nigeria faced difficulties post-merger due to various complexities existed between groups. In order to carry out merger and acquisition of businesses successfully, it is significant for the HRM of banks in Nigeria to consider specific themes, including the effective communication process, quality of HRM, strategy implementation to avoid regional and cultural differences, and capitalisation of knowledge and understanding of integration advisors to achieve a successful merger.  One of the significant findings of the research was that the majority of banks in Nigeria faced significant difficulties in integrating with other banks located across diverse geographical areas of the nation. 

The quality that differentiates Nigerian banks from others is the effective communication process carried out during the merger. On the contrary, the authors found cultural challenges as a significant factor created a barrier in strengthening the workforce in the organization. With the help of an effective communication process, the HRM of Nigerian banks overcome cultural issues. Human resource management plays a noteworthy role in enhancing the communication method, leading to the eradication of cultural barriers affecting the merger of businesses. 

Conclusion 

This particular exploratory research study enabled the authors to develop an understanding of HRM issues affected the merger and acquisition of businesses. Throughout the merger and acquisition of companies, the HRM needs to focus on promoting effective communication practice to overcome cultural challenges, if any, involved in the entire process. 

How this article will contribute to my Essay 3. 

My knowledge domain of several HRM related issues involved in the merger and acquisition process has been largely expanded by the findings of this research. In my essay 3, based on these research findings, I will evolve further discussion on how HRM can overcome challenges associated with the merger and acquisition process.

Article 5

Full reference of the article:

Rees, C., & Johari, Hasanah. (2010). Senior managers' perceptions of the HRM function during times of strategic organizational change case study evidence from a public sector banking institution in Malaysia. Journal of Organizational Change Management, 23(5), 517-536.

Objective and research question: 

The paper is purposed to investigate the role of human resource management (HRM) functions in strategic change initiative in an organization. The authors conducted this research to develop an understanding of how the senior managers carry out diverse functions related to the HRM to contribute to the strategic organizational change during a phase when an organization goes through a rapid change. Another purpose of the research is to identify the key issues encountered by HRM professionals in facilitating strategic change management initiatives in the organization. 

Method: 

In order to address the research objectives, the authors utilise evidence gathered from the previous literature. Moreover, the authors also accumulated the primary data from in-depth qualitative interviews with deputy directors and directors of public sector banking companies in Malaysia. Total 24 respondents were selected for the interview through purposive sampling technique. 

Findings and discussion 

Alongside assessing the beneficial aspects of HRM function, the findings of this research also identified the challenges related to the HRM functions in supporting strategic change initiatives in the organization. These issues involved in HRM functions include strategic focus, credibility, independence, and various strategies of leadership. The research findings also depict the insights of respondents about the importance of HRM functions to be shaped ethically and spiritually. 

Most respondents acknowledged the advancement put into practice in policies and practices of HRM in the organization over the past few years. Senior manager respondents felt that although the functions of HRM supported the change management initiatives in the organization, there was a significant need for HRM to achieve a strategic focus. The authors find that the HRM needs to take responsibilities to make strategic contributions not only for the organization, but also to the entire sector and the country. It was argued that the HRM functions should make a positive contribution to both inside and outside of the business. In case of adopting a strategic role, the key issues that the HRM function could encounter include credibility and independence. Credibility and independence are fostered by leadership approaches, brave strategic attempts and boldness in taking decisions. Lack of effective communication between senior managers and HRM functions was found as a significant challenge that created a barrier to implement the strategic initiative in the organization. The author also found issues in specific HRM involvement and its impact on the ethical climate of the organization. Therefore, this study successfully finds the challenges of HRM functions in taking strategic initiatives in the organization. 

Conclusion 

Based on the information gathered from senior managers of Malaysian banks, the authors find that HRM encounters diverse challenges in carrying out strategic change initiatives in the organization. Some major issues related to the HRM functions that create a barrier to the successful attainment of strategic change initiative include credibility, independence, communication, ethicality, and spirituality. 

How this article will contribute to my Essay 3. 

Based on the findings of this research, I will develop further analysis in Essay 3 about how HRM of banking or financial sector can overcome challenges involved in the process of managing strategic change initiatives. In an attempt to discuss the solutions of HRM issues, I will also analyse the underlying principle of strategic change initiative in the content of financial or banking sector. 

Customer Testimonials