Human Resources

Human Resources (HR) look after the financial industry’s most important asset – the people who make up the vast workforce. In this area, not only will you uncover the raw talent which makes the business tick, you’ll also be involved in developing programmes to attract and retain the best people. Liaising constantly with business managers, HR people advise on many topics to help the business thrive and grow. The four main areas of HR are resourcing (which includes recruitment and selection), relations (which includes policy, procedures and employee communications), reward (looking at motivation and staff benefits), and development (building skills and knowledge through training). A small employer may only have one HR manager, who works across the board, whilst large organisations with a big HR department, may have specialists that focus on one area.

Salary

Administrative and support roles start at approximately £15,000 per annum. With the right experience, qualifications and skills you could progress to management roles and earn in excess of £70,000 per annum. This does not include potential bonuses and additional benefits. Salaries will vary considerably based on location and employer.

• Recruitment, producing job descriptions, placing job adverts and liaising with recruitment agencies
• Interviewing, and providing business managers with interview support, to help match the right skills and personalities to the right job
• Employee relations, managing issues such as long-term absence, ensuring everyone is treated fairly and legally. This can sometimes involve dealing with situations of conflict or making difficult business decisions, for example settling grievances or making people redundant
• Developing and maintaining employment equality and diversity policies, ensuring the company is acting legally
• Counselling and staff welfare, examining working conditions, researching employee opinions and providing benefits and facilities that staff value
• Developing initiatives to reward and recognise performance through regular appraisals
• Regularly reviewing salaries and other rewards, such as pensions, to ensure they meet industry and legal standards, whilst also offering employees a competitive reason to join companies and stay
• Organising learning and development programmes, helping business managers to identify gaps in knowledge to maximise staff talent
• Managing the outsourcing of some services

• Excellent interpersonal skills
• Creative thinkers, able to spot opportunities and implement well-structured HR programmes
• Strong team players, but equally confident using their own initiative
• Sense of purpose and commitment to the business
• Organised and able to manage workloads and deliver under pressure
• Excellent problem solvers
• Tact and discretion, able to deal with private situations without becoming emotionally involved
• Clear communicators, both verbally and in writing
• Good presenters
• Numerical skills in order to manage large HR budgets
• Up to date knowledge of employment legislation

A new entrant will not always be required to have this knowledge. Employers usually provide training to acquire skills for:

• Knowledge of any relevant regulatory issues facing the industry
• Awareness of equal opportunities, social inclusion and diversity good practice and how to implement these into the workplace
• Employment law, ensuring the wider workforce is aware of company specific policies and procedures

HR people are required to have an understanding of numbers for budgeting and be able to communicate clearly both verbally and in writing. Writing reports and making presentations is usually a big feature of the job. Typically, financial employers will take on graduates for formal HR graduate schemes. For graduate entry schemes, a 2:2 or 2:1 degree is usually required.

There are however a range of opportunities at administrative and support level which can be a good route into the profession. A degree is not always needed for these roles and employers will normally require a minimum of:

• A Levels, Scottish Highers or equivalent qualifications such as  Business, Administration and Finance (BAF) Diploma, BTEC National Diploma, Welsh Baccalaureate (BAC), SVQ Level 3 or Higher National Certificate (SCQF Level 7)

A full range of professional qualifications, from NVQ level right up to full Chartered Institute of Personnel and Development (CIPD) chartered status. These include:

NVQs in 

• Personnel, Levels 3, 4 and 5, covering recruitment and selection, learning and development, employee relations and health and safety
• Learning and Development, Levels 3, 4 and 5, covering how to identify learning and development needs, developing training sessions/learning programmes and creating a work climate that promotes learning
• Management, Levels 2, 3, 4 and 5, which focuses on providing leadership, encouraging innovation and planning and implementing change

CIPD Certificate level qualifications leading to CIPD Associate membership:

• Certificate in Human Resource Practice (CHRP) for personnel assistants, administrators and HR officers who support key aspects of the HR function
• Certificate in Learning & Development Practice for training administrators, officers and advisers who want to build and develop a career in training and development

CIPD Certificate level qualifications that do not lead directly to membership:

• CIPD Award in Resourcing Talent for HR officers, recruitment consultants and line managers who have responsibility for recruitment and selection
• CIPD Intermediate Award in Employment Law for personnel officers, advisers and administrators who provide support in key areas of employment, as well as those starting a career in HR
• Certificate in Coaching and Mentoring (CCM) for anyone with responsibility for managing people

CIPD also offers Diploma level courses and above aimed at people who want to advance their HR management career.

With HR becoming increasingly linked to regulatory and employment protection, the growth of HR functions in the sector has been phenomenal. Opportunities exist in all major financial centres nationwide, with some larger firms having regional HR teams too. Very large financial firms with their global office based in the UK, may have a dedicated global HR team. Although based in the UK, occasionally overseas posts and secondments become available.

• Chartered Institute of Personnel and Development
• CIPD People Management Magazine
• Human Resources magazine
• Personnel Today