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Grammar check - Essay Example

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Human Resource Management: A Case of the Al Rajhi Bank Executive summary Human resource management has become among the top concerns for leading financial institution of the modern world and this has led to the HR department being highly regarded in an organizational set up…
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Grammar check

Therefore, to be successful in the market place, the challenges for all businesses regardless of the size is to invest and strategically manage their human resources. This paper presents a study on the human resource management practices at the Al Rajhi bank in Saudi Arabia. The study was conducted using both the secondary and primary research methods. Qualitative analysis of the information collected leads to the inference that the bank has excellent human resource practices, which is guided by a deliberate overlapping of the business initiatives with the employee training needs for the organizations. The study has stated certain recommendations based on the findings of this study. These are aimed at improving the bank’s performance in the future. Table of Contents Chapter One 4 1.1 Introduction 4 1.2 Background of the study 5 1.3 The Al Rajhi Bank Company outline 6 Divisions of operations 7 1.4 HRM practices of Al Rajhi bank 9 1.5 Objective and scope of study 9 Primary objective: 9 1.6 Limitation of the study 10 Chapter Two 11 2.0 Literature Review 11 2.1 Saudi Arabia banking sectors: 12 Saudi Arabia experiences one of the fastest growths in the global banking industry. Even in the time of global financial turmoil, Saudi Arabia banking industry had shown impressive year-on-year growth results. The Saudi Arabia banking has strong credit growth, averaging 14.4% in 2012, and deposit grew 7.9% YoY, customer lending grew at 18.3% yoy, while corporate lending has growth of 10.6% at the same period. The Saudi Arabia banking sector has middle-sized financial sectors according to the IMF. The Saudi Arabia banks have a trend of adequate capitalization, and a good loan-to-deposit ratios and low exposure to foreign debt and toxic loans. All these positive results related to gaining astounding benefits from relatively high oil prices. 12 Figures: Saudi economic & banking sector growth 12 Saudi Arabia has a modern banking industry with 13 commercial banks that provide retail and corporate banking, investment services, derivative transactions, credit cards, ATMs and point-of-sale transaction. There are also non-Islamic banking that provides Islamic banking services that are consistent with the principles of Islamic law, which prohibit the collection of interest on deposits and trading in financial risk. 13 2.2 Human Resource Management (HRM) 13 2.3 Employees Training and Development at Alrajhi bank 14 2.1.1 Employee Training 14 Leadership and management skills 15 Personal effectiveness 15 Phases of Training at Al Rajhi bank 15 Trainings at Al Rjhi conducted an internal and external session. Internal training involves when training organized in-house training through human resource department or training department using a senior staff or talented staff in a particular department. The external training normally arranged outside the firm and mostly organized by training institution and consultant. Whichever training, attendant is mandatory for all employees. 15 Orientation program 16 Training issues and problems 17 2.4 HR planning 18 HR Planning refers to the procedure that comprises of setting of aims and objectives, budgeting, conducting planning that is strategic in nature and execution as well as assessment of programs (Durai 109). One of the main tasks of HR managers is to forecast the ... Read More
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