The above commitments emphasise that Barclays are committed to their staff, equality and diversity and their training and development. These points are what aided me in my decision to choose Barclays for this report. I shall report on my definition of the employment relationship, why it is important to Barclays Bank PLC and discuss the implications of the changes in the employment relationship within the organisation. Then I shall detail how I believe my skills have evolved since starting course B202 in November.
Question One: – Define what you understand the employment relationship to mean “In the employment relationship, employees contract their labour in exchange for various types of rewards from employers. Whether they are working full time or part time, employees seek to obtain from the employer what they consider to be equitable terms and conditions of employment. ” Introduction to Human Resource Management, Introduction, p4. The employment relationship is an economical exchange of labour capacity in return for the production of goods and services.
An organisation exists to accomplish specific goals and objectives. Towards this end it must attract and retain people who have the necessary knowledge, skills and abilities and motivate these employees to perform their jobs. The people hired have their own needs, one is for money, which enables them have the quality of life they desire and purchase a wide variety of goods and services. Hence there is a basis for exchange: the employee offers specific behaviours desired by the organisation in return for money, goods and/or services.
“From the employee’s perspective, the nature of that relationship is important in influencing their standards of living, their career prospects and even their health and well-being. From the employers’ perspective, the nature and quality of the employment relationship can influence the amount of time spent in conflict with employees, the need for direct supervision, staff turnover, the degree of willing contribution versus resistance, the quality of the product or service offered to customers and, ultimately, the viability of the organisation” Block 2, Relationships and Communication, Chapter 1, p10.
Jelled together, the money, goods and/or services provided to employees constitute the employee’s compensation package. A successful compensation/reward system, therefore, is based on fairness; the perceived equity of pay disparity for different jobs within the organisation, the perceived equality of pay for similar jobs within and outside the organisation, and the perceived fairness in pay between employees who are in the very same job. Staffing policies are shaped to recruit and select people who fit the business goals.
The relationship between employer /employee is a very delicate one and generally describes all those activities which contribute both formally and informally to the organisation. HRM, therefore, needs to be aware of the: – “The five Guiding Principles represent the core values of Barclays. They will bind us together with a common purpose and strengthen our culture – both of which are vital in achieving our vision of becoming the world’s most respected and valued global bank in the eyes of our stakeholders.
” Robert E Diamond Jr President of Barclays Bank PLC. This again demonstrates their uintarist perspective, in that the organisation is a team with one shared set of objectives for the management and employees, therefore there is no place for conflict between them. Barclays works closely with Amicus, the trade union that represents many of its employees, and negotiates any new pay deals with them. They also have a “Partnership Principle” with Amicus, which means they work jointly to make Barclays an employer of choice in the UK.
I believe this is to strengthen relationships with employees, as the organisation has a strategic and unitary approach, therefore valuing their staff and wanting to be seen to give union members a fair chance at voicing their opinions. Barclays also puts a-lot into performance, pay and benefits, work life balance, training and development and equality for all. The bank now has a University to promote training and development for the usage of IT learning.
This opportunity is voluntary, as on the job training is provided, so this points towards the “New Deal” in that staff must take on more responsibility for individual learning. This will show the organisation how committed the employee is. Flexibility in working is also promoted as Barclays aim to be a progressive employer, with 15% of their people working part-time. Communication is also highly regarded, with continual encouragement on up wards communication in the form of annual staff surveys. This is so Barclays can establish how employees feel about the organisation, leadership, employee engagement etc.
This demonstrates the bank’s intention to “tap into employee knowledge and opinion, with the aim of improving work relations and performance”. Performance assessments are also a regular occurrence with staff having their own development plans. “The Employee Opinion Survey is a vital source of communication from staff to me, and to my Executive Committee colleagues, telling me what they think; telling me what they like and what they don’t like; telling me what they want me to concentrate on. When they talk, I’m listening. ” John Varley, Group Chief Executive Barclays.