Managing Human Capital at Barclays Bank Essay Example | Topics and Well Written Essays - 3000 words

Managing Human Capital at Barclays Bank - Essay Example Like any other corporation, Barclays also treat its human resource as the most valuable assets and the only active element to activate other elements such as machinery and equipments, which are otherwise, remain dead. However, unless the costs associated with the people management and maintenance is critically evaluated in the light of its probable benefits, the entire efforts will be a waste. Considering the employee initial cost and annual expenditure for hiring and training, it can be presumed that a huge amount has been incurred every year at Barclays. From all stakeholders’ point of view, it can be said that this is not a good sign of success. Rather, it is an indication that the company unnecessarily invest in hiring and maintaining people in the organization and is likely to incur huge loss unless all the employees are retained in the organization. Today’s employees have the tendency to switch over from job to another within no time. This causes further increase in the employee maintenance cost as the organization is required to fill the gap on account of such movement. The most possible solution for this kind of unnecessary increase in the employee cost is that hire only those people whose services are unavoidable to the organization. Also make sure that newly joined are likely to be maintained in the firm at least for three years. It has been mentioned in the report that the pension cost has been on the increase and this can be reduced, if proper care is taken while fixing the compensation plan.