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Human Resource Management Analysis of Suncorp Group Limited

naire to gather further information about the firm and its employees. A questionnaire has been developed to understand and analyses data associated with Suncorp Group Limited. How big is the Organization (Organizational size)? The company is a mid-range firm which provides financial and banking services. How many employees work in the Suncorp Group Limited (Employee number)? More than 15000 employees are working in this organization. The number can vary according to the company’s growth and need. The management hires new employees as per requirement. Till the end of 2015, around 14500 employees were functional in Suncorp Group Limited (Gooley. 2017). What type of organization is it (organizational functionality)? Suncorp Group Limited is a banking corporation where financial banking and insurance work is provided to the customers. The company is registered as a Limited company as per Company Law regulatory. When was the company found? In 1996, the company was found as an independent unit which has been controlled by independent management. What are the business objectives? The objectives are to provide services and benefits of banking and insurance to the customers in the Australian market. What is the net income of this company (an approximation can be provided)? The net revenue of the company was estimated at 1.075 billion Australian Dollar for the 2017-18 financial year (Noe et al . 2017). 3. Human resource management -related issues that emerged in the organization Human resource management issues are present in every organization, and it depends on the management’s approach towards policies and implementation methods. In the Suncorp Group Limited, there are many HRM issues that are found in analyzing the data. There is a great need to address these HRM issues so that the solution to the problem can be gained and the company can maximize market share the issues are listed below: Bad environment for working employees Less pay in comparison to the workload provided to the employees Excessive training Poor management HRM issues in detail in the below section The bad working environment for employees The employees here get a very stressful situation. The company overloads workers with huge targets and enforces unhealthy competition. Employees find it hard to adjust to the workplace environment at the start as they are unable to face the fast-paced environment of the company (Goggins et al. 2017). Less pay in comparison to the workload provided to the employees The payment or salary that the company offers is low in comparison with the type of workload managed by employees. Many employees have been leaving Suncorp Group Limited because of low payment structure and unhealthy working condition. Thus, it will inevitably affect the organization's development and revenue generation. Excessive training New employees are provided with final training sessions, which is not desirable and stressful. As the company wants to get the desired output, they force people to achieve the daily targets and thus, the training provided by the company to its workers is not proper. The human resource management policies regarding training not managed properly, which is hindering factor for learning new skills. Rather than training the people, they give them over-limit work, which is not desirable in any way (Odendo. 2018). Poor management Poor management in hindering and oppressive factor for suitable workplace environment and facility. Suncorp Group Limited has been encountering poor management issues as they pressurize their worker to achieve daily goals or targets and induce unfair HRM practices. Any worker wants a suitable environment where he/she can easily do work without any pressure. The management’s approach is inadequate for the development of suitable HRM practices to satisfy employee desires and focus on completing goals. Both the employees and completing objectives are needed to run the business, but the management does not focus on employee facilities. As per reports published, the company was high performing in context with HRM practices in some years back, but now it is becoming a company with fewer values for its workers. Suncorp Group Limited have been overloading the workers and try to pressurize them to achieve goals.The above are some of the human resource management -related issues that are present in the Suncorp Group Limited Company. These issues are not permanent; that can be resolved by taking careful steps and policy development in HRM practices (Link et al. 2017). 4.Analyze the information you have gained and summarize your findings Analyze has been done for Suncorp Group Limited, and information is obtained in the last section of the discussion. The main objective of the section is to outline the research findings and analytical outputs. Firstly, workers are not happy with the HRM manager and management approach towards HRM policies. Further, employees don't get enough facilities or payment structure. The work environment is terrible for the employees as they remain in stress all day to achieve targets or goals, which is overwhelming. A person always wants to work in a place where there is a peaceful work environment. Employees get frustrated by working in this environment, and thus, the condition of the company needs to be improved. It is essential for employees to work in line with the company objective and to get satisfactory output from the employees to achieve desired productivity. There is a need for revising all the managerial methodologies and policies that contributes to company value creation and fair HRM practices (Glaister et al. 2018). 5.Develop solutions to the human resource management related issues which are identified Some steps need to be taken to resolve the human resource management issues in Suncorp Group Limited as described below: A solution to the Bad environment for working employees The employees are the essential and integral part of any organization and thus, should be treated with respect, and their desires should be satisfied. As the organization runs by the employees, therefore, there is a great need to provide employees with a suitable working environment and appropriate and modern HRM practices to induce high productivity. The solution to less pay in comparison to the workload provided to the employees In case of below standard payment structure, employee attrition would be high in Suncorp Group Limited, or employees encounter less job satisfaction in day to day basis functionality. There should be a systematic approach while forming HRM policies or in managerial methodologies that directly impact the performance of each employee of Suncorp Group Limited. There should be an increment and incentive structure apart from regular payment structure to induce motivation and rewards or facilities should be provided by the company to its employees to support achievements and productivity. Therefore, a suitable working environment, fair HRM policies, a robust and well-structured payment module enables the company to introduce a highly productive work environment and support employee need (Vushemakota, 2018). The solution to Excessive training Excessive training sessions are detrimental to retaining new employees. The workload and day to day basis targets should be minimized in the training period so that trainees could learn and adjust with the present working environment and job role. Lack of training would be a hindering factor for learning new skills required for a current job role which have a direct impact on productivity and professional development. Thus, the Suncorp Group Limited Company should plan the level of workload depending upon the expertise and skill structure of the employee, which will be provided to the trainee at the time of the training period. The main focus should be to make the trainee learn the basic methods, and skill sets necessary for the current job role that would be contributing to organizational productivity and personal or professional development (Ringle et al. 2018). The solution to Poor management The management should manage each task and create a suitable day to day basis functional structure in support of the employees as it would directly contribute to the organizational productivity and overall performance. Before taking new decisions or updating old ones, employees’ view should also be considered with proper care. Employees are the greatest asset of the organization, therefore providing a suitable opportunity for growth and personal development that eventually contribute to the overall productivity and development (Barsby and Wright, 2019). Conclusion It could be concluded from the above discussion that identifying the HRM issues within the organization and addressing those issues with proper research and analysis is an essential approach for developing appropriate HRM polices. A brief description of the company is provided with the formation of the questionnaire that has been pointing out the essential aspects of Suncorp Group Limited. The HRM issues of Suncorp Group Limited are also summarized, and solutions to the issues are also provided through a systematic approach. The work culture and working environment of Suncorp Group Limited are not in line with global standard, therefore, adopting appropriate HRM policies enable Suncorp Group Limited to manage high employee retention rate and archives high productivity (Glaister et al. 2018). Human resource management assignments are being prepared by our human resource assignment help experts from top universities which let us to provide you a reliable assignment help online service. Reference List Barsby, N., and Wright, L., 2019. Employment law: Say what?: Navigating unlawful interview questions. Governance Directions, 71(1), p.48. Glaister, A.J., Karacay, G., Demirbag, M., and Tatoglu, E., 2018. HRM and performance—The role of talent management as a transmission mechanism in an emerging market context. Human Resource Management Journal, 28(1), pp.148-166. Gooley, N.J., 2017. Dissecting the Trend-Procyclicality of Retail Bank Deposits: A New Tool for Managers. The Journal of New Business Ideas & Trends, 15(1), p.18.Link, G.J., Lumbard, K., Conboy, K., Feldman, M., Feller, J., George, J., Germonprez, M., Goggins, S., Jeske, D., Kiely, G. and Schuster, K., 2017. Contemporary issues of open data in information systems research: Considerations and recommendations. Communications of the Association for Information Systems, 41(1), p.587. Moradi-Motlagh, A., and Babacan, A., 2015. The impact of the global financial crisis on the efficiency of Australian banks. Economic Modelling, 46, pp.397-406. Noe, R.A., Hollenbeck, J.R., Gerhart, B., and Wright, P.M., 2017. Human resource management: Gaining a competitive advantage. New York, NY: McGraw-Hill Education.Odendo, L., 2018. Impact of Human Resource Practices on Employee Performance: A Case Study of Capital Colours Creative Design Limited (Doctoral dissertation, United States International University-Africa). Ringle, C.M., Sarstedt, M., Mitchell, R., and Guderian, S.P., 2018. Partial least squares structural equation modeling in HRM research. The International Journal of Human Resource Management, pp.1-27. Shah, D., Xu, Y., Gollan, P.J., and Wilkinson, A., 2016. In search of workplace partnership at Suncorp. Developing Positive Employment Relations (pp. 281-303). Palgrave Macmillan, London. Smith, D., Henderson, D., and Ginger, J., 2015. Report for: Suncorp Group Limited. Insurance Claims Data Analysis for Cyclones Yasi and Larry, Cyclone Testing Station, College of Science, Technology, and Engineering, James Cook University, Townsville, Queensland, p.53. Vezér, M., and Morrow, D., 2019. 10 FOR 2019: SYSTEMIC RISKS LOOM LARGE.Vushemakota, S., 2018. The internal environment for corporate entrepreneurship within a South African organization (Doctoral dissertation). Get Top Quality Assignment Help and Score high grades. Download the Total Assignment help App from Google play store or Subscribe to totalassignmenthelp and receive the latest updates from the Academic fraternity in real time.

Subject Name: Human resource management

Level: Undergraduate

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