HRD assessment 1 PDF

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This study investigates the formal learning and informal learning at Westpac bank. Provide an outline of the HRD opportunities provided to workers in the organisation (200 words). The Westpac Group provides numerous opportunities for its employees. Westpac banking corporation, commonly known as Westpac, is Australia’s first and oldest bank. This has allowed Westpac to experiment and exceed with the different trends of human resource opportunities. Westpac introduced an initiative named Westpac Academy. Through The introduction of this academy Westpac has made it possible for employees to be trained and efficiently develop their skill set. This is done through the formal training of e-learning, consisting of over 40 programs, ranging from sales to product knowledge and services. The e-learning has not only trained the employees to manage Westpac better but also help understand topics such as corporate responsibility ethics. Westpac Academy’s latest career workshop has been towards managing for ‘Generation X and Y'. It is staged to aim towards the younger generation, with the first session, as it provides career advice and the second session to provide people leaders with an insight of the various ways of motivation and how to meet the expectations of these generations through effective leadership. Another aspect of Westpac Academy is ‘Create the Difference.' This scheme is aimed towards assisting managers to recognise and understand diversity issues, and the different approaches and ethnic people may have to work. Westpac not only trains, monitors and develop their workers through the e-learning of Westpac Academy but also support their employees in undertaking an external study.

Assess the extent to which knowledge about informal learning has influenced the organisation’s HRD practices (600 words). Informal learning influences greatly upon Human Resource development practices as it self- directed learning, also known as learning from experience. Informal learning results from daily work-relations, family and leisure activities. Westpac encourages it employees towards informal training through work placement, learning through trial and error and engaging in workplace mentoring. Westpac has created programs such as ‘supported volunteering opportunities.' Helping its people by bringing together team based activities that help benefit the community, resulting in a rewarding experience. Westpac profoundly believes and encourages their staff in helping the community as it initiates a variety of general skills set. To invest in the next generation of leaders, Westpac has created the ‘Westpac Bicentennial Foundation.' This foundation lets Westpac invest into the next generation, who are known as the gifted visionaries, bold reformers, and ambitious innovators. The important part of this framework is that Westpac funds up to 100 scholarship programs every year to help make this vision into reality. To further this understanding, Westpac through the partnership with Jawun Indigenous Corporate Partnerships were able to create a unique opportunity in a life changing secondment within an Indigenous community for its employees. These secondments, running anywhere from six to 12

weeks, allows employees to experience enormous growth in both personal and professional wellbeing while contributing to help support and flourish the Australian Indigenous communities. To help open doors to a brighter future for Australians, Westpac has gone on to create ‘Westpac Foundation.’ Westpac foundation aims to build opportunities for disadvantaged Australian through social and financial inclusion. As the approach used by the foundation is ‘More than money,' meaning, it goes beyond grant-giving to providing support through one-on-one mentoring, skills transfer and volunteering. When comparing Westpac against the banks of the big four, regarding formal and informal training, it shows how Westpac has had an extensive knowledge of both methods of career developments. For instances, NAB sees the new generation of recruits into the workforce as being technology savvy and having learning preferences that steer away from traditional, instructor-led teaching in favour of a more open, collaborative, peer-to-peer culture. NAB recognises that information is becoming more accessible than ever before and, in turn, the learning process is becoming increasingly learnercentric. CommBank, on the other hand, provides Group-wide training and business area-specific training, in addition to formal training for technical and soft-skill development. Support and networking opportunities where employees of the group have a mentor/buddy program to assist them throughout the work life journey. Employees also have the chance to contribute to the community by participating in our community committee and other initiatives. To build strategic capabilities in areas of leadership, sales, service, operations, banking, digital, professional and technical skills, ANZ with the partnership of leading institutions and experts have developed programs to focus on these areas of the organization whilst reinforcing ANZ’s core values. ANZ offers its people a range of development opportunities throughout their careers, implicated by hiring individuals who are keen to revitalize their skill sets within new roles. ANZ also draws upon their past experiences to give them a secure and exciting development path to help achieve their aspiration and full potential. Westpac’s form of career development grabs the upper hand as they not only look into trends of the current generation but also on ways to give back to it community.

Reference http://www.anz.com/about-us/corporate-sustainability/employees/training-development/ https://ryan2point0.wordpress.com/2008/06/04/learning-virtually-at-nab/ http://www.lode.com.au/workplace/cba/ https://ala.asn.au/public/docs/report/Informal_learning-At_a_glance.pdf http://www.anz.com/about-us/corporate-sustainability/employees/training-development/ https://www.australiantrainingawards.gov.au/finalists/westpac-banking-corporation https://www.westpac.com.au/docs/pdf/aw/SIR05_Employees.pdf https://www.westpac.com.au/about-westpac/westpac-group/company-overview/our-history/ https://www.westpac.com.au/about-westpac/careers/ https://www.westpac.com.au/about-westpac/careers/westpac-difference/community/...