Designing HR Enhancing CSR for Wealth Redistribution: A Study on Banking Sector of Bangladesh

Abstract

The study focuses on the aspect of the economic responsibility of the CSR. Hence, this study tries to identify the extent to which HR can influence CSR to take economically responsible initiative and the role of HR in influencing the employees and stakeholders of the company. Therefore, research will investigate the relationship between HR-driven CSR activities and the distribution of wealth outside the organization. There is very few research conducted regarding the influence of HR particularly on CSR, and from that research it was evident, that the HR has the potential to influence different initiatives taken by the organization but most of the time HR is kept restricted in its own functions. Hence HR is yet to unleash many potentials in the organizational activities. This study has demonstrated three hypotheses that explain the relationship between CSR and HR in the banking industry. Each factor's Cronbach's alpha has been entered into SPSS 26 to verify the accuracy of the data. The Cronbach’s alpha value of the human resource policy, corporate social responsibility, and the impact of the HR policies and CSR initiative on wealth redistribution is α= .924 < 1, α=.973 < 1 and, α=.983 < 1 respectively. This validates the strength of the data. For analyzing the goodness-of-fit of the model, the regression analysis has been conducted where the values of R2 is 86%. Therefore, for proving the hypothesis, the correlation is done, where the p-value of the three hypothesis is significant from the study it can be said, if HR is allowed, then HR can influence the organization in many aspects from motivating the stakeholders to implementing polices for the organization’s betterment.