Banking and Finance System Human Resource Part I: (Recruitment, New Hire on Board, Applicant Management, Performance Management and Social Recognition)

Vol.3, No.1B

Abstract

Banking has existed since the inception of currencies, as affluent individuals sought a secure place to deposit their money. Even ancient empires relied on a functional financial system to facilitate trade, distribute wealth and collect taxes. Human Resources is an essential aspect of the back office in financial services and banking. Banks remain significant players in these fields. However, the professionals working in this industry are not hidden backstage. HR should communicate effectively with all employees, including senior managers and board members, across all departments of a bank or financial firm. The main focus of any HR department is the company's employees. HR covers a broad range of areas, including payroll (in smaller organisations, the accounts department typically handles this), employee benefits and pension schemes, recruitment across all levels of the business, new hire contracts and disciplinary issues.