• National Australia Bank is associated with more than 30,000 people serving almost 9,000,000 customers at more than 900 locations in New Zealand and Australia (Nab.com.au 2018).

• The company believes in innovations and work with the workforce by developing the infrastructure for the betterment of the customer services.

• Thehuman resource management of the company pays attention to the different HRM activities, such as Development and Training of Personnel, Employee motivation including remuneration, and performance appraisal.

Development and Training Personnel

• ‘The Academy’ is a professional development plan undertaken by NAB to enable the digital technology usage.

• NAB spent almost $8 million for building a corporate training process that completed in mid 2009 (Crozier and Crozier 2017).

• The purpose of this training session was to enable the technological usages for the digital business and making the professionals tech-savvy to deal with the advanced system.

Development and Training Personnel (Contd)

• This academy provides leading edge courses, programs, innovative technologies, and tools

• It is also considered as the digital strategy

• This training program enables the learning scenario for the professionals associated with the company that helped them in developing their professional skills

• This digital strategy helped the professionals to create the value and collaborating with the strategic partners.

Employee Motivation including Remuneration

• The company provides the reward facilities for the employees to attract, retain, and motivate them.

• The review and measurement of the performance parameter of the employees determine the remuneration package of the employees (Afr.com 2018).

Employee Motivation including Remuneration (Contd)

• The alignment of the employees’ interests is the main motif of this remuneration process that lead towards employee motivation.

• The company values the contribution of the associated members due to which the employees receive the extra pay for the extra hours spent on working days.

Performance Appraisal

• Andrew Thorburn, the chief executive officer gathered the senior executives to monitor the performance reviews of the employees (Afr.com 2018).

• The company introduced the initiatives that suggested to be driven less by the tools and more by the incentive schemes as the appraisals.

Performance Appraisal (Contd)

• The performance appraisal process is developed by reviewing the complexity level of the work done by the company.

• The restructuring process of the pay structure during the performance appraisal is quite helpful for retaining the employees for the longer period of time.

Conclusion

• Human Resource management is the integral part of an organisation

• The Human Resource Management in NAB motivates the employees by providing effective training and development session, remuneration package, and remarkable performance appraisal benefits.

• The adequate training regarding the technical skill use helped in strengthening the digital strategy. Accordingly, it helped the company to acquire the competitive advantage

• The attractive remuneration package motivates the employees to perform better and develop the competitive landscape

• The senior executives are associated to review the performance. Their performance appraisals through promotions and effective hike on the pay structure drive the employees to develop better performance skills.

References

NAB embraces the end of performance reviews. [online] Financial Review. Available at: <https://www.afr.com/brand/chanticleer/nab-embraces-the-end-of-performance-reviews-20150729-gin7l4> [Accessed 14 Apr. 2018].

NAB to scrap formal performance review. [online] Financial Review. Available at: <https://www.afr.com/news/nab-to-scrap-formal-performance-review-20150729-gin5el> [Accessed 14 Apr. 2018].

Albrecht, S.L., Bakker, A.B., Gruman, J.A., Macey, W.H. and Saks, A.M., 2015. Employee engagement, human resource management practices and competitive advantage: An integrated approach. Journal of Organizational Effectiveness: People andPerformance, 2(1), pp.7-35.