Edited by Tony Dundon and Adrian Wilkinson
Chapter 35: Implementing HRM within multinational corporations: Localisation or global standardisation?
BankCo is a large European bank and operates in three key businesses: retail banking and financial services; global investment management and services; and corporate and investment banking. BankCo was founded more than 120 years ago and is well into the maturity stage of its life cycle. Currently the firm employs almost 150 000 members of staff in more than 80 countries. In the late 1990s, a subsidiary company, FinanceCo, was created and aimed to focus on BankCo’s operations outside the country-of-origin. Overall, BankCo’s corporate mission is to increase its profitability through an effective growth strategy for economies and individual clients. The basis for this vision, as it has been claimed, is a vigorous model that the parent company attempts to diffuse to all parts of the Multinational Corporation (MNC). BankCo also aims to disseminate a set of core corporate values, namely professionalism, team spirit and innovation, to all employees in all subsidiaries. The goal is that these values will govern worldwide operations, even if practices differ amongst subsidiaries.
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