Best Practice Model Researched on Barclays Bank Plc

This project has taken eight weeks of preparation for desk research as well as field research. This report is based one of Human Resource Management's most uprising topic of 'best practice' which is developed upon the work of Pfeffer and various other contributors. Barclays bank is the chosen company for this report to be based upon.

In the literature review there are various information, arguments, facts, statistics which reflect upon best practice. In the findings I conducted desk research of corporate documents from Barclays bank Plc to base most of my findings on that as well as conducting an interview with the manager of my chosen branch of Barclays bank as well as giving questionnaires to eleven employees there. In findings the results are stated and in analysis and discussion they are evaluated to see if best practice was in good use in the organisation.The aim of the project is to find understand the important aspect of the 'Best practice model' and to relate it to my chosen company and analyse how much of the model is being followed.This project is aimed at the 'best practice/high commitment' model (Pfeffer) of HRM by Marchington ; Wilkinson (2002).

The report is four thousand words including a personal learning statement. Barclays Bank is the chosen organisation in which a critical review of this model will be carried out. The chosen branch is in SurreyThe aims of the project is to find out how well the best practice method links to Barclays bank HRM function/culture and if the method helps employees better in the workplace.This project will use various research methods need to be used. Primary research will be conducted to get fresh new data as an interview will be done with the branch manager and a questionnaire will be given out to a total of thirty people working at the branch there and this will give me the feedback which I need to compare with theory.

Secondary research will also be used as past statistics will be reviewed to evaluate past trends which will lead to my recommendations of the future.This project will contain a Literature Review which will explain what the best practice models consists of and the theory behind it as well as published materials facts upon it. Then that will lead to my Findings which will sow what I got through my various research methods which will lead to my analysis and discussion then conclusions which will finally give me enough information to write the Recommendations.LITERATURE REVIEWThe 'Best practice' model is known to be on of the major topics within Human Resources (also referred to as 'high commitment') as it has known to be a powerful tool if obeyed and followed properly within HRM/organisations. There are various definitions to it, but the factor for what the model can do for the company remains the same which is involving the main seven components that can help any company perform to a higher standard and work more efficiently.

There has been a huge increase in the concentration of 'Best practice' within human resource management regarding the work inspired by Jeffrey Pffeffer, along with other contributors have result in assumptions over that particular sets of HR practices which can increase profits no matter what happens to organisational, industrial or national context. this notion of 'best practice' was studied with a particular amount of interest by Jeffrey Pfeffer (1994,98) where he argued that HR practices could raise profit when a set of policies which were grouped together and used collectively and this would hold for all organisations.Pfeffer identified seven important practices which are based on the sixteen drawn earlier. There are many countless and many studies in analysing links between HRM and the performance of a business and their results have been put forward, most notably that by Patterson and et al.(1997) where he stated that the HRM was a driver and a major contributor to the improved performance of an organization (Marchington ; Wilkinson 2002).(Those seven components are listed in the appendix figure 1.

2 as well as on the next page).Employment security and internal promotionJob Security is essential and is one of the basic expectations of most employees who are working full time basis. Employers cannot expect employees to give their best in the workplace without having motivation and a lot of motivation comes from knowing that their position is important and that they have job security. This is one of the major factors that theorist Maslow talked about in his 'hierarchy of needs' (refer to appendix fig 1.3) as he states that that is an important need for any employee in an organization.

It is impractical to ask employees to offer their ideas, hard work and commitment without some expectation of security on their part Pfeffer (1998: 180 - 1. "Workers should be not as a variable cost but a critical asset in the long term" (Marchingston ; Wilkinson, 2002). Employment security is also valuable to the organisation as much as it is to the employee because if the company invests in the work force for training and external courses (which is costly) and suddenly employees decides to leave then it is a major loss to the organization plus "Layoffs put important strategic assets on the street for the competition to employ" (Pfeffer 1998 p66). Sometimes even temporary workers and used to protect the overall workforce (Marchingston ; Wilkinson, 2002). Internal transfer is done in a lot of companies when employees are chosen to transferred into another location or position, it is cheaper because it saves the company on advertising costs such as paying employment agencies to get workers for them.Selective hiring and sophisticated selectionThis process is an effective way to achieve 'human capital advantage'.

'Capturing a stock of exceptional human talent' (Boxall, 1996: 66-7). This is seen as a way of recruiting the best of the best multi-skilled talented people for the company and if this is done successful it could be a major competitive advantage.Recruitment and selection allow management to determine and gradually modify the behavioural characteristics and competences of the workforce. (hrmguide.

co.uk).. Viewing qualification is always an issues and taken seriously when recruiting for high position as having a degree helps because "the graduate employment rate has remained at 89% - higher than for those without degrees - and 84% are in graduate-type jobs" (Guardian 2006). "Recruiting high-quality committed staff is seen as central to 'best-practice' HRM," (Marchingston ; Wilkinson, 2002).

Wood ; Menezes 1998 argued upon the critical value of having social skills for interaction for team working which should be added in the selection criteria.