Disadvantages Of Hsbc

Training and Development is imperative to the organization’s progress. Training helps addressing employee weaknesses and builds a reliable and skilled workforce. This will improve the employees’ performance and boost their self confidence, and innovation. By acquiring the needed knowledge and skills, employees can perform more efficiently and increase the overall productivity of the organization.

Career development is comprised of three main objectives. The first objective is to meet human resource needs in a timely manner throughout the life of the business. The second objective is to provide information about open positions and opportunity for growth to the organization’s employees. The last objective is to use existing programs to develop and manage employee careers to match organizational plans and goals.

Career development is not just beneficial to the organisation. The impact it has on an employee is valuable as well. It allows for the employee to align career goals with personal goals.

Since everyone has a different skillset which makes it difficult for every employee to perform in the same manner.

Individuals gain from having a formal career development system, as it comes with clear expectations and a framework for career paths. While it may not fix all of the problems surrounding this situation, it gives individuals an idea of where they can go and how they could get there. They can begin to determine where they will into the organization in the future, and determine the actions they need to take for their next positions. It also allows for better coaching for individuals, as managers can consider peoples’ goals and determine the resources they need to get there. As a result, people are more likely to succeed.

Qualified employees may get the opportunity to work for and with specialized managers or other corporate heads to learn from these individuals.

Implementing a training program will be the most effective way to ensure that current and newly appointed team members can engage the needs of the customer base. This culture can be very positive and supportive, or it can be threatening, and destructive. In many cases, managers, supervisors, and workers do not know the nature of the career development culture because they have not had an objective appraisal of it (Stuart, 2002). The management team will provide a training program to enhance the skills of the current employees while grooming the new staff for future roles in the organization. The program that will be implemented will be as followed:

Given that, top performers need to know how to get to where they want to be in the organization, and direction needs to be supplied. The simple truth is, when a company lacks the ability to show the individual a path of progression in order to move forward, it can be detrimental to the organization bottom-line, as turn-over affects the profits of an organzation. The result is employees will disengage and will seek other opportunities of employment elsewhere. As a final point, providing staff with a career path is similar to creating a psychological contract for an employee to stay employed with the company. By companies investing in the employee’s growth and development, they will grow in to a loyal employee and stay with the corporation. Creating a path for an employee increases employee retention. This creates a strong sense of purpose for the individual; they become connected to the organization, as they desire to be a part of the bigger picture (Gupta).

HSBC is one of the Largest Banking and Financial Services organisations in the world, shares in HSBC holdings plc are held by over 220,000 share holders in 121 countries. HSBC provides a comprehensive range of financial services to more than 100 million customers through four customers an global businesses: Personal Financial Services; Commercial banking: Global banking and Markets: private banking.

Another practice that helps to achieve career growth and development is offering training opportunities for the employees. The employees are offered benefits that help them to further their education and achieve higher qualifications. This is a strategy which helps to increase the skills, qualifications and competence of the employees. In this way, the staff are at a better position to gain promotions within the organization as education qualification is not a barrier for them. The employees become motivated as they become more competitive in the market which is good for their career (Branham, 2012).

It also conducts Career development practice to help employees to showcase their skills, providing career guidance and career development activities.

Competitive corporate environment it is important that companies pay attention to their employees’ abilities to perform their duties. What is actually important is for companies to continuously study not only how they can perform well for the customers but they also have to address the issue on how they can maintain a highly effective staff. To achieve this they should have strategies in place to measure their employees’ skills, knowledge, and attitude. This will assist in better planning strategies needed to have an effective retention program in place to measure the learning and growth perspective.

Career progression is the aim for most workers, but career development is not something most of us think regularly. But without proper understanding of what we want from our career and how we can achieve our goals quicker, we can quickly end up dissatisfied with our jobs.

Training and development provide employees the skills and knowledge to keep up with the company’s changes and growth. It can also help to develop and improve the corporate culture, its efficiency and its effectiveness; and helps in creating the learning culture within the company.

Hongkong Shanghai Banking Corporation (HSBC) is one of the largest banking and financial services organizations in the world. We are the world's local bank.