Selecting A Company: Choose An Organization To Work With

Selecting A Companychoose An Organization With Which You

Choose an organization with which you are familiar or one in which you have an interest. The company selected for this analysis is First Independence Bank in Michigan. Provide a brief history of the organization, highlighting its founding, evolution, and key milestones. Then, research and analyze the organization's human resource management programs, policies, procedures, or initiatives. Assess their effectiveness in promoting employee engagement, compliance, diversity, and overall organizational growth.

Evaluate the current HR practices to identify strengths and areas needing improvement. Based on this assessment, hypothesize possible changes or enhancements to existing practices that could better support the company's strategic goals and employee well-being. The proposed change should be beneficial to the organization as a whole and feasible for approval by the Board of Directors or Executive Leadership.

In your one to two-page paper, clearly present your evaluation of the current HR programs and your hypotheses for improvement. Support your analysis with at least one to two credible references that discuss HR best practices or change management strategies.

Paper For Above instruction

First Independence Bank, founded in Detroit, Michigan, in 1992, has established itself as a community-oriented financial institution committed to personalized service and strong local relationships. Over the years, the bank has expanded its services and branches within Michigan, emphasizing community development and customer satisfaction. Its mission centers on fostering economic growth within the communities it serves, and it prides itself on a customer-first approach. As a regional bank, First Independence has also prioritized its workforce development as part of its strategic initiatives.

Regarding human resource management, First Independence Bank has implemented several policies aimed at attracting, retaining, and developing skilled employees. These include comprehensive onboarding programs, ongoing training, diversity and inclusion initiatives, and performance evaluation systems. However, despite these efforts, some HR programs may not be fully optimized for the current competitive labor market or evolving organizational needs.

The effectiveness of the bank’s HR policies can be seen in its relatively low turnover rate and positive employee feedback. Nonetheless, there are indications of gaps, such as limited opportunities for career advancement, insufficient emphasis on work-life balance, and outdated performance review processes. These areas could hinder long-term employee engagement and organizational growth if not addressed promptly.

Based on this evaluation, one significant area for improvement is the performance management system. Traditional annual reviews may not capture ongoing employee development and motivation effectively. Transitioning toward a continuous feedback model, integrating more frequent check-ins, and utilizing digital tools could foster a more dynamic and responsive performance culture. This shift would promote transparency, accountability, and personalized growth plans, ultimately enhancing employee satisfaction and productivity.

Furthermore, introducing flexible work arrangements and wellness programs could improve work-life balance, thereby increasing employee retention and reducing burnout, which is increasingly important in the current remote or hybrid work landscape. Implementing these changes would require careful planning, including staff training, technology upgrades, and communication strategies, to secure buy-in from leadership and staff alike.

In conclusion, while First Independence Bank has strong foundational HR policies, adopting a more modern, continuous, and flexible approach to human resource management could significantly benefit the organization. Such enhancements would align HR practices with contemporary expectations and support the bank's broader strategic objectives, making it more resilient and attractive to current and prospective employees.

References

• Cascio, W. F., & Boudreau, J. W. (2016). The search for global competence: From international HR to talent management. Journal of World Business, 51(1), 103–114.
• Ulrich, D., Brockbank, W., Johnson, D., Sandholtz, K., & Younger, J. (2012). HR Competencies: Mastery at the Intersection of People and Business. Society for Human Resource Management.
• Brown, P., & Lent, R. W. (2019). Theories of career development and change. In Career Development and Counseling: Putting Theory and Research to Work (pp. 82-111). Springer.
• Wright, P. M., & McMahan, G. C. (2011). Exploring human capital: putting 'human' back into strategic human resource management. Human Resource Management Journal, 21(2), 93-104.
• Brewster, C., Chung, C., & Sparrow, P. (2016). Globalizing Human Resource Management. Routledge.