AN ASSESSMENT OF HUMAN RESOURCE MANAGEMENT AND ITS EFFECT ON STAFF PRODUCTIVITY AT GCB BANK LIMITED, GHANA
- Project Research
- 1-5 Chapters
- Quantitative
- Simple Percentage
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
1.1 BACKGROUND OF THE STUDY
Human Resource Management (HRM) is a collection of unique activities, functions, and procedures aimed at attracting, directing, and retaining an organization's human resources (Shen, Chanda, D'Netto, & Monga, 2009). The Human Resource role has expanded significantly over the last few decades and now encompasses the entire spectrum of people management procedures.
There are diverse perspectives on the nature of HRM, and there is a wide range of Human Resource practices used by distinct firms (Boselie, Dietz, & Boon, 2005). It is the element of the management process that focuses on the management of people in workplaces. Employees are viewed as the major resource for creating a sustainable competitive advantage by HRM practitioners, highlighting the importance of integrating human resource activities with company strategy. Employees vary from other resources in that they may analyze and question management's decisions, and their dedication and collaboration must always be rewarded. The transition from traditional personnel management to more sophisticated human resource management has been widely noted in recent years (Bach, 2001). Human resource management functions have grown in recent years to include new aspects such as; Employee welfare, trade unions, evaluation, employee involvement, and equal opportunities (Armstrong, 2006). Today's workforce consists of people with diverse attitudes, demands, desires, values, and work behaviours (Bursch, 2014).
To make the best use of all organizational resources, modern human resource management practitioners view diversity management as a strategic instrument for accomplishing business goals related to the successful management of human capital. According to Forbes Insight (2011), diversity has generally been viewed of in terms of people's "visible" differences, such as gender and color, with a focus on the abolition of discrimination based on these distinctions As a result, diversity management focuses on recognizing, understanding, and valuing differences based on ethnicity, gender, race, religion, handicap, national origin, and sexual orientation.
It also includes an infinite number of individual differences and experiences, such as communication style, career path, life experience, educational background, geographic location, income level, marital status, military experience, parental status, and other variables that influence personal perspectives. These life experiences and unique perspectives cause us to respond and think differently, approach issues and solve problems differently, make various ideas and judgments, and see different opportunities. The diversity of mind, then, is likewise a component of diversity. Superior company performance necessitates the utilization of these distinct views (Abrams, 2013). Managing diversity entails developing a diverse workforce that can operate to its full potential in an equal work environment where no individual or group of individuals has an advantage or disadvantage (Abu-Qulah & Shahneaz, 2014). This covers the process of developing and maintaining an atmosphere in which all employees can naturally attain their greatest potential in pursuit of organizational goals. To get the most out of every person, an emphasis is made on training specific talents, defining policies, and streamlining activities. It implies a consistent environment in organizations and strives for efficiency, productivity, and, ultimately, competitive advantage.
An organization's varied workforce can be effectively managed by incorporating diversity management principles into core human resource tasks such as recruiting and selection, training and development, performance appraisal, and remuneration (Kostas, 2011). Diversity has recently become a “hot-button” issue in the political, legal, corporate, and educational realms. However, attitudes toward a diverse workforce have been divided in various businesses and among scholars. On the one hand, many firms are hesitant to hire and promote women and ethnic minorities, particularly in top positions. According to certain studies, various FIRM diversity practices are not related with increased diversity. Adoption of diversity training, for example, has no effect on top management diversity or overall employee diversity (McSweeney, 2016). In their study, Shen, Chanda, D'Netto, and Monga (2009) found that organizations with higher diversity pay lower wages and had higher employee turnover. On the other hand, there is widespread acceptance of the importance of worker diversity. According to research conducted by the Australian Centre for International Business (ACIB) (2000), variety improves the quality of management decisions while also providing creative ideas and superior solutions to organizational problems (ACIB, 2000). Empirical data suggests that organizations with effective diversity management benefit from higher bottom-line returns. The keys to the ‘value in diversity' argument are information sharing and constructive task-based conflict resolution. Managing diversity is based on the identification of variety and differences as good aspects of an organization rather than challenges to be overcome (Shen, Chanda, D'Netto, & Monga, 2009). Almost all businesses now make an effort to promote diversity and inclusion. Executives recognize that their companies cannot be successful on a global scale unless they have a diverse and inclusive staff. To fuel innovation, foster creativity, and influence corporate initiatives, a diverse and inclusive workforce is required. Multiple voices foster new ideas, services, and products, as well as inspire outside-the-box thinking.
Companies no longer segregate diversity and inclusion efforts from their other business operations, and they know that a diverse staff may help them differentiate themselves from competitors and attract new clients (Forbes Insights, 2011). According to recent surveys, all executives are involved in establishing, implementing, or administering diversity and inclusion initiatives or programs for their workforce. A company's innovation strategy is inextricably related to the commercial case for diversity and inclusion. Multiple and diverse voices have a wide range of experiences, which can aid in the generation of fresh ideas concerning products and behaviors (Forbes Insights, 2011).
1.2 STATEMENT OF THE PROBLEM
Most firms in Ghana are recognized to have a diverse workforce in terms of gender, age, ethnicity, educational background, religious views, marital status, and social standing. This type of diversity in organizations is largely superficial and sometimes just serves to satisfy constitutional and legal obligations. The 1992 Constitution of Ghana and the Labour Act of Ghana both support workforce diversity (Labour Act, 2003). The Act, also known as Act 651, aims to assure equal employment opportunities and affirmative action compliance in all enterprises. Choosing to focus on this type of diversity is frequently dichotomous and polarizing (Jones, 2006). Organizations must be efficiently managed in order to reap the full benefits of diversity. Their focus should move from how to create demographic diversity to how rich our knowledge bank is, thus the concept of diversity of thought. Focusing on diversity of thought allows us to recognize people as individuals rather than as representatives of a group, which aids us in finding common ground while collaborating (Deloitte, 2011). It serves as a focal point that may be applied in a variety of cultural and national contexts (Deloitte, 2011).
Any company that wants to be successful must have an open mind and an unwavering commitment to ensuring that workforce diversity is part of its day-to-day operations (Childs, 2005). GCB Bank Ltd is deemed to have national presence across all of its 149 branches and eighteen agencies (Ghana Commercial Bank (GCB), 2016).
According to the research, GCB evaluates the traditional concept of diversity, which deals with demographics rather than focusing on the diversity of flexibility and inclusiveness. GCB does not completely involve employees in daily human resource management choices such as recruiting, postings, transfers, training, and promotions, for example, by soliciting their input or allowing them to select from a menu of options.
The purpose of this research is to investigate human resource diversity management and its impact on productivity at GCB Bank Limited.
1.3 OBJECTIVE OF THE STUDY
The primary aim of this study is to investigate human resource diversity management and its impact on productivity at GCB Bank Limited. Therefore the following objectives are to;
1. To examine the extent to which GCB Bank Ltd promote diversity as far as human capital is concerned.
2. To assess the extent to which diversity affects productivity.
3. To identify the impact an organizational stance on diversity has on its productivity and how it informs prospective and potential applicants.
1.4 RESEARCH QUESTIONS
The following questions guide this study;
1. What is the extent to which GCB Bank Ltd promote diversity as far as human capital is concerned?
2. What is the extent to which diversity affects productivity?
3. What is the impact does an organizational stance have on its productivity and how it informs prospective and potential applicants?
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