Human resources division transformation in the banking sector: the implementation of the 'three legged stool'

Abstract

The management of people has not always been considered an important aspect of an organisation's success. Lately, companies have realised that the only asset that cannot be imitated is the employees. Consequently HR is expected to contribute, more now than ever before, towards achieving a sustainable competitive advantage. To that end, more and more companies have adopted Ulrich's model or 'the three legged stool', as the latter has been named after the use of three main pillars that depict the roles of the model. This study analyses the successful adoption of the model by a Romanian bank. It describes the process and highlights possible best practices by providing a process-map and encapsulating some thorny issues raised during the process of change.