A Review of Employee relations strategies within the Banking Sector: A review of Barclays Bank
Abstract
Globalisation and technology advancement is constantly changing the world of business. Survival for a modern organisation means developing a competitive edge which can be inherent to the treatment given to their human resources.
Introduction
The rapid evolution of technology that has taken place over the past two decades, has created an enabling environment for businesses to strive and increased the level of competitiveness experienced. Organisational survival in this competitive atmosphere thus calls for the adoption of strategies that gives a sustainable competitive edge (Ngui, 2016: P18). Human resources have been acknowledged to be a formidable asset and prime element in gaining competitive advantage.
Critical Review of Literature
The concept “employee relations” though trending recently has been since the advent of work and has witnessed countless metamorphosis in ideas and definitions. Blyton and Turnbull (2004) defined employee relation as the study of rules, regulations and agreements by which employees are managed both as individual or groups.
Conclusion
Barclays, just like every 21st organisation prioritising organisation survival is tapping into its human resources to build a competitive edge that cannot be imitated. The Bank is observed to adopt quite a few employee relation strategies in their bid to create opportunities to rise. The Bank firmly harnesses the power in using effective communication to drive their goals home. The concept “listening tour” adopted by the Barclays chairman depicts a form of communication cum employee empowerment strategy which enables the position holder to interact with all stakeholders of the bank noting their evolving needs and addressing it in a manner that is satisfactory to all involved (Barclays 2019;17).
Recommendation
There is a need for Barclays management to keep working on improving the working conditions of their employees. Judging by the employee relations strategies adopted by Barclays Bank, it has proven to pay a close level of attention to supporting the well-being of their staff.
