The Commonwealth Bank Australia was founded first in 1911. However, at that time, this bank was a government bank. In 1998, this bank became recognized as a public company. The headquarter of this bank is in Sydney and as per the latest reports, it has over 1000 branches. Apart from Australia, this bank has its subsidiaries in New Zealand and in some of the Asian countries like Indonesia, Hong Kong and Fiji. Additionally, it is also having branches in cities like London, New York, Mumbai and more. Apart from regular banking services, Commonwealth Bank Australia also offers net banking and mobile banking services to its consumers.
Human Resource Management in Commonwealth Bank Australia
Commonwealth Bank Australia is a believer in the fact that employees are its most important assets. Hence, when it comes to HRM, Commonwealth Bank Australia offers flexible HRM policies to its employees.
To discuss the benefits offered by Commonwealth Bank Australia the factors which should be mentioned are competitive pay, employee share plan, banking benefits, child care centres and more. The competitive payment structure includes incentives and bonuses and these are offered to the employees for their hard work. In fact, the employees of Commonwealth Bank Australia are eligible for receiving shares of the bank worth $1000 every year, only if they successfully meet the performance targets. Additionally, the employees of this bank also get some special banking benefits which are dedicated only to the employees. Regular customers are unable to avail such offers.
Another pillar of the HRM policy of Commonwealth Bank Australia is the summer internship program offered by this bank. This program is specifically for those new graduates, who are willing to start their career in the Australian banking industry. An internship with this bank at the beginning of their career can strengthen their resumes to a large extent. Such internships are designed with the objective to maximize the experience of the interns. Once they get the opportunity to work in the top bank of Australia, they can not only enhance their experiences but also can strengthen their networks which would later be helpful for them to get recommendations and to get the opportunity to prosper. Some popular types of programs offered by Commonwealth Bank Australia are school-based traineeships, full time/part time traineeship, university internships and hiring opportunities. All these programs can be helpful for a great career with many opportunities.
Motivating the employees is also very important in the case of Commonwealth Bank Australia. Hence, the HRM policy of Commonwealth Bank Australia is created in such a way that the employees never lose their motivation while working for this bank. The HRM officials of Commonwealth Bank Australia encourage the employees to develop a flexible mindset so that they won’t limit themselves towards a set of specific job responsibilities only. Diversity is strictly discouraged within Commonwealth Bank Australia. The bank makes sure that employees with physical disability are never neglected of any opportunities. No partialities are observed in this bank, and the only indicator of performance for the employees is their performance. Gender-based discrimination is also not supported by Commonwealth Bank Australia. In fact, many female employees of Commonwealth Bank Australia are heard saying that they can easily balance their job responsibilities to spend time with their families. The female employees of Commonwealth Bank Australia have no such complaints that they are not given equal attention or priority like the male employees. They have in fact stated that they get similar treatments and a lot of support from the bank. The scenario of leadership at Commonwealth Bank Australia is also highly advanced in nature. The leaders don’t make any decisions without giving the employees an opportunity to speak their minds. The leaders always try to stay in touch with the employees to make sure that the employees are not facing any issues or difficulties. Commonwealth Bank Australia also believes in collaborations. It encourages its employees in such a way that they can build new networks on a regular basis. The bank is a believer that new and strong networks will be helpful for new communication and business opportunities and these opportunities would be helpful for the bank in future.
Before concluding, it should be stated that Commonwealth Bank Australia is highly aware of the need for training and development of the employees working in the organization. The bank and its higher management always try to help the employees in achieving growth and success. The bank never asks the employees to limit themselves within their own fields only. The bank believes that such instructions may become constraints on the employees and they may lose their motivation in the long run. Instead, the bank advises the employees to develop an interest in all the fields of the bank so that they can achieve satisfaction from their work. However, Commonwealth Bank Australia always appreciates those employees who keep performing consistently. The bank is always looking for such staffs who can outperform their previous performance. At Commonwealth Bank Australia, the focus is given more on outperforming one’s own performance rather than competing with fellow workers. The bank believes that an individual himself is his biggest competition. The bank has always supported and encouraged its employees to take up more challenging projects. They believe that without encountering challenges, the employees will never be able to achieve growth and experience and they would have to stay limited within a small boundary. In the official website of Commonwealth Bank Australia, many blogs are written whose primary purpose is to motivate the employees. Commonwealth Bank Australia shares stories of other employees through these blogs so that the employees who are going through tough phases or are suffering would be able to find motivation by reading those blogs. Finally, one of the best parts of the HRM policies of Commonwealth Bank Australia is offering career advice to the employees. There are specialists who talk with the employees and advise them regarding ways in which they can shine in their career.