... sustainable advantage in long term, companies can majorly differentiate themselves only by building its intellectual capital (employee competence) & organizational excellence (organizational capabilities) – which are very hard to copy. HR’s contribution to achieve this is vital. It is in this light that HR’s role & responsibilities needs to be relooked & redefined to extract meaningful contribution from HR. To achieve this, both, senior management’s & Line manager’s expectations from HR, and HR’s expectations from itself, needs a sea change. Challenges & Competencies needed Following are five major business challenges (that any company faces) and the corresponding competencies needed to face these challenges Challenges Competencies...
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...HR practices and compensation management NAME- DESIGNATION- ORGANIZATION- Questionnaire- HR PRACTICES 1. What according to you are the top five HR challenges faced by your organization? 2. Rank these five challenges. 3. How are these challenges dealt with? 4. What are the innovative practices being introduced to over come these challenges? 5. How have these innovative challenges helped you to overcome the Previous challenges? 6. What has been the employee response? 7. What do you think has been the best failure while introducing the innovative practices which made you learn the most? COMPENSATION PRACTICES 1. Number of employees in the organization? 2. What is the package for various grades or levels? 3. What are the factors used to determine the pay? • Competitors benchmarking • Inflation • WPI (wholesale price index) • Salary survey • Any other(please specify) 4. Do you consider the competitors pay package while determining the package for your employees? 5. How do you determine the pay at the departmental level? 6. What are the criteria of the salary increase? 7. How often is the salary revised? 8. What is the likely increase for this year? If increment has been done how much is the increase? 9. What are the other benefits given to your employees? ...
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...Human resources have been called the “key ingredient to organizational success and failure).In today’s Globalized era Human resource practices have become more innovative and technological. Today HRM Practices uses technology to enhance mobility. The HR and global mobility Departments have a great deal to gain by replacing existing deficiencies with operational efficiencies that can be achieved through the use of technology. In addition, the effective use of technology can enable organizations to track employees and reach out when required. Today the social networking sites viz. facebook, twitter, LinkedIn etc. are used as an innovative tool to recruit the capable and efficient human resources in any organization. Technology is moving beyond its role as a business enabler and become further ingrained in the life and work styles of the future workforce, while also changing employee and business expectations and interactions with one another and the world around them. This Paper critically discusses the Impact of Technology on recruiting and mobilizing the workforce, We specifically put an emphasis on what is often called “new” or “modern” HRM practices—practices that imply use of high levels of technology and innovations in recruitment process. We discuss how individual practices influence innovation, and how the clustering of specific practices matters for innovation while drawing attention to the notion of technology and its impact on recruitment and mobility. Moreover...
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...considered as the most dynamic and exceptional fashion retailer in UK (Howthorne, 2011a) (Liddle, 2013a). Topshop is a British multinational retailer. It was founded in 1964 as a youth fashion brand. They sold Shoes, accessories, makeup and Fashion clothing. They have 440 shops across 37 countries all over the world. They have online operations of its markets. TopShop is the most innovative and dynamic brand on the British high street today. Topshop is credible and strong brand to work for. Its Innovation, creativity, results and effort are all rewarded and recognized (Howthorne, 2011b) (Liddle, 2013b). Nature of HRM functions of Topshop UK: Topshop offers great career opportunities in fashion retailing. Organizational development and employee relations are its main concern. They give its utmost priority for ensuring its continuous development, securing the best talent and retain the skills to support the business. Its HR team works specifically on maintaining good network across merchandising, buying and introducing talented individuals into its business. Its HR team also promotes careers in retail across Universities and Schools. They...
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...The article speaks about four ways in which HR can deliver organisationalexcellence. First being partnering with senior and line managers in strategyexecution. Second, it delivers administrative efficiency to ensure that costs arereduced while the quality is maintained. Third, it helps in increasing employeecontribution. Finally, it acts an agent of continuous transformation. Based onthese points, the line managers must work to completely integrate HR intocompany’s real work. There are five challenges that the companies face in the modern scenariobecause of which HR finds an important role. First, increase in globalisation haspushed the companies to increase their ability to learn, collaborate and managediversity, complexity and ambiguity. Second, initially the companiesconcentrated on cost cutting measures to increase their efficiency but later onthe focus needs to shift towards revenue growth. They must be market focussed,develop innovative and creative products and must encourage free flow of information. Third, there is a need to incorporate technology as a viable,productive part of the work setting. Fourth, the organisations face a majorchallenge in attracting, developing and retaining intellectual capital. Last, thesuccessful organisations are the ones which adapt themselves quickly to thechanges and which can take rapid decisions and innovate new ways of doingbusiness. The challenges described above have moulded new roles for HR. Successfulorganisations are the ones which...
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...Introduction | | 1.1 | Bank's Mission | | 1.2 | Bank's Vision | | 2 | BODY PART (Basic HRM practices) | | 2.1 | Selection & recruiting process | | 2.2 | Training & Development | | 2.3 | Performance appraisal method | | 2.4 | Compensation & benefits provided | | 3 | Concluding part | | 3.1 | Problem found | | 3.2 | Your suggestions | | 3.3 | Conclusion | | 1 INTRODUCTION IFIC Profile International Finance Investment and Commerce Bank Limited (IFIC Bank) is banking company incorporated in the People’s Republic of Bangladesh with limited liability. It was set up at the instance of the Government in 1976 as a joint venture between the Government of Bangladesh and sponsors in the private sector with the objective of working as a finance company within the country and setting up joint venture banks/financial institutions aboard. In 1983 when the Government allowed banks in the private sector, IFIC was converted into a full fledged commercial bank. The Government of the People’s Republic of Bangladesh now holds 32.75% of the share capital of the Bank. Directors and Sponsors having vast experience in the field of trade and commerce own 11.31% of the share capital and the rest is held by the general public. 1.1 Bank's Mission Our Mission is to provide service to our clients with the help of a skilled and dedicated workforce whose creative talents, innovative actions and competitive edge make our position unique in giving quality service to all institutions...
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...BSBA - MIS & Finance Business Systems Assistant Business Systems Team – HR Systems Global Services Office, Boston, MA Systems Analyst, Merrill Lynch Helpdesk Technician, The Boston Beer Company Matt Foxman, Class of 2011 Previous Positions: OVERVIEW The Boston Consulting Group (BCG) is a leading international strategy and general management consulting firm operating across 40 countries in a complex and fast-changing business environment. The firm has built its worldwide practice on intellectual leadership and has helped change the way many corporations approach, and engage in, competition. Many of BCG’s strategic concepts are taught at leading business schools and executive education programs around the world. Reporting Gather data and publish in monthly updates. Projects Assist Business Systems Team and IT Project leaders on various projects. Transfer Knowledge Create accompanying end user documentation and guides for use of system. JOB RESPONSIBILITIES This position plays a key role within the BCG Human Resources Systems group working on various projects and application support activities. BCG’s HR systems group supports these primary areas: Core HRIS, Career Development/ Performance Management, Training, Career Services, and Recruiting. Key responsibilities will include: Test SKILLS NEEDED Highly developed sense of discretion due to . confidential nature of material. Strong organization skills and attention to detail. Good...
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...Human Resource Management A New Mandate for Human Resources By Dave Ulrich 1 Summary In recent times HR has been perceived as ineffective, incompetent and costly. A need has been felt for creating a new role and agenda to focus on the outcomes and deliverables enrichinhg the organisations value to customers, investors and employees. The four ways which should be adopted by the HR are ← It should partener with the management in executing the strategy ← Develop an expertise in organizing and executing administrative work efficiently. ← Become a medium of transferring employes concerns to the management and develop means to increase employee contribution. ← It should become a change agent, shaping processes and cultures for facilitating change in the organization. The primary role of transforming the HR role lies on the CEO and all line managers who have the main responsibility of achieving the business goals. Thus the line and the HR should form a partnership to make it focused on outcomes rather than activities. 1 Reasons for increase in importance of HR HR can play leadership role in meeting the following competitive challenges Globalisation – The HR must develop understanding and skills in ways of international customers, commerece and competition. It should facilitate the organization in increasing its ability to learn, collaborate and to manage...
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...supports an organisation’s long term business goals. The logic behind this is that organisations are using new innovative technologies to provide qualitative low- cost solutions, and are trying to manage their human assets more effectively (Wright, P. 2008). If competitive advantage is understood as a set of organisational capabilities that would lead to superior performance over competitors, then, HRM strategy is essentially the process of defining and enhancing appropriate systems that maximise people’s added value (Wilton, 2011). The key debate which will be explored is whether there is a best way of achieving strategic HRM. This essay will therefore critically engage in this theoretical debate by comparing and contrasting three SHRM models and explore how each can make a contribution towards improved organisational performance. Boxall and Purcell (2008) highlight that there is significant debate regarding approaches to strategic HRM when they discuss three theoretical contrasting models, namely ‘‘best fit’’, ‘‘best practice’’ and ‘‘resource based view’’ (RBV). Walton (1985) explains that there are two simple typologies which should be considered when formulating HR strategy. The ‘best fit’ or ‘control based strategy’ is predicated upon close monitoring and management of employee performance and reflects a cost minimisation approach. Conversely, the ‘best practice’ or...
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...which excites your intellect and/or is relevant to your future business career. FIELD RESEARCH – requires contacting a company or companies, identifying their current HR policy issues or HR concerns, selecting only one, developing a list of interview questions based on a brief review of research in that HR area, and then conducting an interview to explore the matter in depth. It is NOT merely a report of the conversational narrative of the interview. It is a thorough critique with recommendation for improvement. 1. Critique a current HR policy or issue in a specific company and make recommendations for improvement. Examples of policies are: recruiting, hiring, orientation, training, succession planning, career planning, team development, performance review, equal employment opportunity, pay incentives, a specific type of employee benefit or perk, corrective/disciplinary action, OSHA compliance, and safety recognition. 2. Describe a current HR strategy in a specific company and how it enhances their competitive advantage in business. Discuss strengths and weaknesses of the strategy. Examples are: HR employment planning, performance management system, organization design/development, compensation planning, quality of work life (QWL), promotion of diversity, and team building. 3. Interview a HR Manager in a specific company and identify the major issues facing him/her and how they plan to address them. Generally, this is a three...
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...which excites your intellect and/or is relevant to your future business career. FIELD RESEARCH – requires contacting a company or companies, identifying their current HR policy issues or HR concerns, selecting only one, developing a list of interview questions based on a brief review of research in that HR area, and then conducting an interview to explore the matter in depth. It is NOT merely a report of the conversational narrative of the interview. It is a thorough critique with recommendation for improvement. 1. Critique a current HR policy or issue in a specific company and make recommendations for improvement. Examples of policies are: recruiting, hiring, orientation, training, succession planning, career planning, team development, performance review, equal employment opportunity, pay incentives, a specific type of employee benefit or perk, corrective/disciplinary action, OSHA compliance, and safety recognition. 2. Describe a current HR strategy in a specific company and how it enhances their competitive advantage in business. Discuss strengths and weaknesses of the strategy. Examples are: HR employment planning, performance management system, organization design/development, compensation planning, quality of work life (QWL), promotion of diversity, and team building. 3. Interview a HR Manager in a specific company and identify the major issues facing him/her and how they plan to address them. Generally, this is a three...
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...organizational development in a few ways. Human resource (HR) policies, practices, and procedures contribute to organizational structure. It is also said by HR experts that more specifically the three R’s, recruitment process, review system, and retention of talented faculty is vital to proficient organizational performance (Mishra, 2011). Overall, organizational development is greatly impacted by the HR practices of hiring, training, evaluation, and promotion of their employees. This helps to establish the desired organizational culture. First and foremost, the human resource techniques are integral to the leadership and development of an organization. The policies, practices, and procedures will also dictate the strategy behind the three R’s, recruitment, review, and retention. These managerial tasks can prove how effective a leader is and if they are capable of taking a company to the desired levels of success. When looking for new talent HR managers must assess that these individuals can appreciate the core values of the company. Moreover, the way these new recruits are trained and evaluated can better lead to attaining organizational goals (Kinicki and Fugate, 2014). Being able to retain capable associates can make or break a company. A positive organizational structure requires high turnover rates. HR policies and practices influence the satisfaction of those talents. Successful HR management has to be innovative in the four dimensions of relation work “influence, inter-personal...
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...REGAL PHARMACEUTICALS Regal pharmaceuticals is a reputed company and it is known for its proactive HR policies and practices. It is following a environmental friendly manufacturing activities to show they are contributing towards corporate social responsibility. The vision and mission of the company states the same. It is also doing some innovative HR practices in the company. But in spite of all these, pollution control board sent a show cause notice to the company because one of the manufacturing units are accused on account of pollution which affecting the nearby environment. This notice was quickly communicated to the public through electronic media. This resulted in losing the image of the company, of being socially responsible. Several campaigns which clarify the concern for the employment by the company are conducted by its PR managers. But even the employees were confused with the information from outside which made them doubt about the company’s vision and mission and the credibility of the top management. HR head organized personal meetings of the CMD and top executives with the employees in corporate offices as well as manufacturing locations. They created employee awareness groups, which were empowered to inspect the pollution control mechanism which is being implemented by them. The members of the EAG were counseled to tour the neighboring villages to create awareness about the responsible actions taken by the company. On the basis of the case I think...
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...Mandate for Human Resources Submitted by Group 4 Maruth Kumar M (2007PGP070C) M Mohan Rao (2007PGP074C) Phani Koundinya N (2007PGP077C) Naik Chetan Bhimrao (2007PGP080C) Nalin Rana (2007PGP081C) Navneet Singh Arya (2007PGP082C) Nikhil Kumar (2007PGP085C) Nitin Gupta (2007PGP086C) Santosh Kumar V S Matala (2007PGP137C) Sulakshana Ramakrishnan (2007PGP159C) A New Mandate for Human Resources The article starts with analyzing whether we really need HR in today’s business scenario. Currently, HR’s basic function is to handle policy making and all the paperwork involved in hiring and firing, manage the bureaucratic aspects of benefits, administer compensation decisions, oversee recruitment, and manage training and development programs and design initiatives to increase workplace diversity. But there are still doubts over the contribution of HR to organizational performance. Often, it is found uneconomical and inefficient. Author has identified 5 factors that make an HR department necessary: • Globalization - Expansion of global markets have made it important for managers to have knowledge about global trade issues and also meet local needs. Therefore, it has become necessary for the organization to learn and collaborate and to manage diversity, complexity and ambiguity. • Profitability through growth - Companies now feel a drive for revenue growth by seeking new customers and developing new products and hence should become more market...
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...We will discuss how LG has impacted the South Korean economy as well as outline the positive and negative characteristic of chaebols and the South Korean economy. We will identify LGE’s human resources strategy, and how they deal with diversity. I will also explain one of LGE’s strategic alliance and its global objective. The Organization and the Purpose of Chaebols LG Electronics was established in 1958 as GoldStar. They produced products like radios, TV’s, refrigerators, laundry units, and air conditioners. There advanced digital expertise and technological expertise has catapulted them to become one of the industry leaders in technology. LG continues to reinforce their vision of become a global leader in digital by creating innovative products and ensuring superior customer service. The company, continues to unveiled new products, new technologies that continues to reinforce their status as one of the global leaders. LGE is s the world’s second largest manufacturer of television sets with forty-five percent of sales coming from the home electronics division of the company. Twenty-two percent of sales come from the home appliances division and twenty percent of sales come from mobile communications which they are ranked as the third-largest producer of mobile phone. LGE headquarters is located in Yeouido-dong, Seoul, South Korea. LGE’s CEO is Bon-joon Koo became Vice Chairman of LG Electronics on October 1, 2010. He was born in 1951 he is the grandson of In-hwoi...
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