HR Analysis of Anz Bank Essay
The research from Chandler Macleod Group (CMG) indicates that due to the global financial crisis and ineffective communication, employees are facing redundancy risk from employment, within a large number of them are planning for a new job. Based on the articles, there are two main types of job suppliers who are admin staff and generation Y facing the risk of employment. According to Olsen (2010) states that as a result of the employer’s insufficient treating; over half of the administration and office workers are planning to hunt for a job opportunity.
On the contrary, most of reception staff choice to stay because of the encouragement and compensation from employer. Meanwhile, Clarke (2010) points out that the employment market of generation Y is negative. Although Australia workforce is confronted with ageing problem, the employers are still tend to engage older workers, because they can overcome the skill shortage problem and avoid career development issue. Labor demand forecasting Over 30% of the employees in financial industries are deal with the change of employment market, which is job redundancy (Author, 2009).
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He also states that the most of employees who suffered this pressure are looking for a job vacant in short possible period. What is more, David Reynolds, the consultation executive general manager, predicts the future prospect is no optimistic resulting from the economic downturn (Author, 2009). Meanwhile, based on Clarke`s (2010) survey, it is obvious that the insufficient talent measures from employers and continuing professional skills shortage result in nearly a quarter of the financial and accounting workforce drained away.
Refers to the analyzing and forecasting of ANZ bank Australia, Author (2009) indicates that the job demand of new requirement in Australia is considerable great nowadays. What the employers need are workers with economic downturn experience and skills relate to present situations, including risk remission, analyzing, improving productivity and profitability. Balancing supply and demand consideration According to the basic theory, workforce diversity means the similarities and differences among employees in terms of age, cultural background, physical bilities and disabilities, race, religion, sex, and sexual orientation. Australia business workforce diversity merges as the similar characteristics as common. The ANZ bank Australia has a diverse workforce and its staff come from many different backgrounds and provides a broad range of skills, knowledge and experience that contributes directly to excellence at this entity. The ANZ should have an impressive record with respect to equal opportunity and diversity, which needs to achieve excellence through diversity.
This also needs to identify employment priorities and maximize performance through drawing on the widest possible pool of skills available, thus encouraging workforce diversity. The focus of the strategy is to increase workforce participation in three priority areas: Indigenous Australians, People with Disabilities, People from culturally and linguistically diverse backgrounds. How to formulate staffing strategies to meet organizational needs Firstly, the effective way to retain talent should be changing the working mode (Author, 2009), which including more rest days per week, part-time and contract work and taking accrued leave. econdly, as a candidates, confidence and resilience, strong leadership, ability to remain company`s competence and ability to improve its productivity are still important. Thirdly, according to Olsen (2010), the effective communication about the company`s objectives and the duty of employee`s position between candidates and employers is significant. Fourthly, Olsen (2010) also states that flexible employment mechanism used in economic downturn period is helpful.
In more specific term, it means investing part-time employees during the busy hour and two thirds of employees will feel well to say because of this effort. Fifthly, the survey from Clarke (2010) states confirms that one of the effective ways to retain staff is improve the payment. Based on these theories, ANZ bank human resource managers should make effective communication with staff to make a clear version of company`s objectives and employees` duties, and at the mean time provide further development procedures for them.