...in the top management level. Whilst the aforesaid succession strategies were relatively successful, the need to plan ahead has rendered them ineffectual (Cannell, 2009). The nineties marked the period of growing uncertainty, of increasing sped of change in the business environment and flatter structures (Mowtani et al., 2006; Cappelli, 2008; Cannell, 2009). Without a doubt, it was difficult to ascertain as to whether or not the job one has will still exist after one year. It is because of this then that succession planning has increased its importance. Succession planning is defined as the process of identifying and developing internal people who possess the potential to fill key leadership positions in the company (Whitmore, 2006). In view thereof, many scholars believe that it is through succession planning that the company is assured that more people who are experienced and capable in assuming leadership positions are available. Whitmore (2006) further adds that it is because of the abovementioned that the so-called replacement planning for key roles is at the core of succession planning. This research paper has been devoted to the analysis of succession planning in the field of human resource management. In addition, it would also highlight the issue of succession planning in the hospitality industry. This research shall therefore be divided into the following sections: first, introduction; second, succession planning: an overview; third: the practice and...
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...OCBC Bank Talent Management and Development Name: Institution: Introduction Overseas Chinese Bank Corporation commonly known as OCBC bank is a publicly listed financial provider which was founded in 1932 and has its headquarters in Singapore. The main area of operation is South East Asia but it has retail banking subsidiaries in several countries; these countries include Indonesia, China, Malaysia, Japan, United States, Australia and the United Kingdom. The products provided by OCBC bank are corporate banking, consumer banking, asset management, insurance, investment banking and global wealth management. OCBC bank in Singapore has received recognition in different categories due to its outstanding performance in the banking sector, some of the recognitions are; in 2011 and 2012 the bank was ranked as the strongest bank by Bloomberg, the Bank of the year in 2012 in Singapore, most attractive employer 2013 (Banking and Finance sector) in Randstad Award and among the world’s 50 safest bank in the world by Global Finance 2012 (Global Banking News, 2012). This paper will focus on the OCBC bank talent management and development (TMD), comparison with another organization, how the TMD contributes to success and its limitations. Talent management and development can be defined as a set of coordinated strategies by an organization to engage, attract, retain, motivate and develop employees so that the organization can attain its set goals and objectives. The TMD is important in ensuring...
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...workforce may not contribute in competitive edge (Mavin, 2000). For an instance, Ann had not had a proper training before staring her shifts. Even if she is hard working and leaves a nice touch after her work, she might not be contributing in competitive advantage for KCS over other cleaning organizations. Furthermore, HRM should take place in the early stage of a corporate planning to make it SHRM. It is not about fixing employment problem in middle of organization’s operation. It is integrated with corporate strategy so that organization can have the right people at the right place at the right time(Van Donk, 2001). For example, Ann was struggling about the appraisal system because she was not aware of it while she joined KCS. Finally, authority and HR managers must have a channel for communication. Effectively HR managers will assess the role of a employee to achieve organizational goals. If senior management does not listen to HR managers, employees they will be hiring will not be able to help in organizational mission and vision. For instance, KCS did not plan what they will be doing with Ann for future; instead they employed Ann as their client base got increased. Assessing the purpose of SHRM (AC 1.2)\ Firstly, as discussed earlier, only a committed workforce is not enough to achieve competitive advantage. Ann should have gone through some training process either by Ted or by a professional cleaning trainer. As, Ann’s employment was not strategized, now...
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...classifications, seniority provisions, promotions and transfers, layoffs and terminations, hiring pools, KSAO requirements, grievance procedures, alternative dispute resolution procedures, employment discrimination protection, and, very important, pay and benefits. Virtually all aspects of the staffing process are thus affected by negotiations and the resultant labor agreement. Labor unions thus have direct and powerful impacts on staffing and other HR systems. Even in nonunion situations the union influence can be felt through "spillover effects" in which management tries to emulate the pay and benefits, as well as staffing practices, found in unionized settings. HUMAN RESOURCE PLANNING Human resource planning (HRP) is a process and set of activities undertaken to forecast an organization's labor demand (requirements) and internal labor supply (availabilities), to compare these projections to determine employment gaps, and to develop action plans for...
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...(2011) asserts that the human resources management process involves strategic human resources planning, recruitment and down-sizing, selection, orientation, training and development, performance appraisals, compensations and benefits. Strategic human resources planning is the process of analyzing staffing needs and identifying actions to satisfy these needs over time. For example a company may realise the need to recruit more employees in six months time as they will be opening another branch so there will be the need to plan for the staffing needs for the new branch and also budget for their salaries. It must support the implementation of strategies and advance the accomplishment of key objectives. It is having the right people available to do the required work essential to the success of any strategy, and it is the responsibility of all managers to ensure that all jobs in their work units are filled with people who can best perform the required tasks. Human resources planning involve the following steps: reviewing organizational strategies and objectives; establish and refine objectives and policies to compliment the strategic plans; establish human resources needs through job analysis, job description, job specifications; forecasting that is projecting future staffing requirements and anticipate internal and external supply through human resources audit, replacement charts and succession tables. Robbins and Decenzo (2001) mention the need to conduct employee assessment as part...
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...Glossary of HR terms For the benefit of human resources professionals, both new and seasoned, we present a Glossary of Terms. If, having read the Glossary, you feel that there are any omissions, then contact us . Absolute ratings A rating method where the rater assigns a specific value on a fixed scale to the behavior or performance of an individual instead of assigning ratings based on comparisons between other individuals. Affirmative action Also : Positive discrimination. Carried out on behalf of women and disadvantaged groups and members of such groups are placed in dominant positions. Appraisal See Performance planning. Attrition A term used to describe voluntary and involuntary terminations, deaths, and employee retirements that result in a reduction to the employer's physical workforce. Autocratic leadership Leader determines policy of the organization, instructs members what to do/make, subjective in approach, aloof and impersonal. Balanced Scorecard A popular strategic management concept developed in the early 1990's by Drs. Robert Kaplan and David Norton, the balanced scorecard is a management and measurement system which enables organizations to clarify their vision and strategy and translate them into action. The goal of the balanced scorecard is to tie business performance to organizational strategy by measuring results in four areas: financial performance, customer knowledge, internal business processes, and learning and growth. Behaviorally...
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...Strategic planning is not a new concept and is commonly referred to as the solution to many organizational problems. Strategic planning is a continual and systematic process in which decisions are made about intended future outcomes. Planning takes time, work, and the ability to confront difficult obstacles. Financial outcomes are used as a component to measure the success, failure, and strategy effectiveness. S. Scott (2012) stated in the second paragraph, “The focus of a strategic plan is usually on the entire organization, while the focus of a business strategic plan is usually on a product or service”. Without a realistic plan and obtainable goals an organization has no direction. Market opportunity is a factor in shaping a company’s strategic plan, which is why the advantage and disadvantage evaluation process is important. Team C discussions validate that the following week two course objectives are easily understood and are clear to the team: • Objective 2.1 - Measure an organization’s internal and external environments using environmental scanning. • Objective 2.2 - Determine relevant business competitive strategies. Objective 2.1 is easily understood as it relates to environmental scanning, which is the possession and utilization of information about trends within an organizations internal and external environment. Environmental scanning is similar to the SWOT (strengths, weaknesses, opportunities, and threats) analysis, which is the first stage of planning, and...
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...companies to outsource all or part of their plan. No tax is levied until the employee withdraw the amount. A Absenteeism Policy: A policy about attendance requirements, scheduled and unscheduled time off, and measures for dealing with workplace absenteeism. Repeated absenteeism can lead to termination. * Scheduled time off: Excused absences from regular work hours scheduled in advance by an employee for such things as vacation, medical appointments, military service, jury duty, etc. * Unscheduled time off: Absence from work during regular work hours that was not scheduled in advance by the employee (e.g. sickness). Absences are generally accepted and sometimes compensated if their frequency and rationale fall within an organization's...
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...identify the skills that they need to acquire in order to progress within the organization (Williamson, 2007). This process is important in that it is an integral part of an organization’s performance management process. In order to manage this process well, it is important to conduct performance appraisal every six to twelve months (Anthony, Kacmar, & Perrewe, 2002). Coens et al. (2000) declared that performance evaluation is a mandatory process under which we rate, evaluate or depict from the rater all or a group of employee’s work attitudes or quality within a particular time period and the outcomes are retained by the corporation. There is strong evidence that employees participation in developing appraisal system leads to favorable reactions to the process (Williamson, 2007). This sense of possession develops the satisfaction of the subordinates with the appraisal interview and the appraisal system (Williamson,2007) therefore motivates them to overcome cynical problems. Feedback on performance is giving information to employees about their strengths and weakness related to previous personal activities. As noted by (Thomas, 2005), most feedback implementations involve some component of evaluation and objective information about past performance. Evaluative feedback can serve as an antecedent for rule-governed future performance by implicitly or explicitly specifying the contingencies related to positive and negative evaluations of performance (Haas & Hayes, 2006; R. A. Johnson, Houmanfar...
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...assumptions iii. Ploy: specific manoeuvre at the tactical level with a short time horizon iv. Position: the location of an organization relative to its competitors and other environmental factors v. Perspective: gestalt or personality of the organization HR Planning Notebook 1.1 – Description of Strategy Strategy: declaration of intent (considered as both plan and purpose) Strategic Intent: tangible corporate goal; point of view about the competitive positions a company hopes to build over a decade Strategy Formulation: entire process of conceptualizing the mission of an organization, identifying the strategy, and developing long-range performance goals Strategy Implementation: activities that ees and managers of an organization undertake to enact the strategic plan and achieve the performance goals Objectives: the end, the goals Plans: product of strategy, the means to the end Strategic Plan: written statement that outlines the future goals of an organization, including long-term performance goals Policies: broad guidelines to action, which establish the parameters or rules Strategic Planning: systematic determination of goals and the plans to achieve them (requires thinking about future) - must be viewed as a dynamic process that can respond to changes in the environment (Logical Incrementalism) Figure 1.1 – The Reality of the Strategic...
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...Core Results Consulting | Strategic Analysis: Chern Report | Date: 2014 Strategic Staffing for all of your organizations short and long term needs Table of Contents Executive Summary …………………………………………………………………………………………………………………………………. Recommendations Strategic Staffing Planning Process ………………………………………………………………………………………………………… 4 Figure 1 – Economic Conditions 5 Disparate Impact Analysis ……………………………………………………………………………………………………………………….6 Job Requirements Matrix – Sales Associates …………………………………………………………………………………………..6 Figure 2 - Sales Talent Performance Matrix …………………………………………………………………………………………… 6 Sales Associate KSAOs …………………………………………………………………………………………………………………………... 7 Table - Education ………………………………………………………………………………………………………………………………….. 9 Table - Work Values ………………………………………………………………………………………………………………………………. 9 Job Requirements Matrix ………………………………………………………………………………………………………………………. 9 Job Rewards Matrix …………………………………………………………………………………………………………………………….. 11 Table - Work Activities ………………………………………………………………………………………………………………………... 12 Internal Labor Market …………………………………………………………………………………………………………………………. 16 Table - Transition Probability Matrix ………………………………………………………………………………………………...... 17 Table - Transition Probability Matrix Forecasting ………………………………………………………………………………... 17 Table - Employment Projections ………………………………………………………………………………………………………….. 17 Transition Analysis ………………………………………………………………………………………………………………………………. 18 Labor Market Findings …………………………………………………...
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...Chapter 2—Strategic HR Management and Planning MULTIPLE CHOICE 1. The flawed assumption underlying the creation of the “Job Bank” at GM, Ford and Chrysler in the 1980s was that a. the excess workers could be retrained for new “high tech” positions in the auto plants that would be created as the car manufacturing process was automated. b. the auto unions would trade job training for laid-off workers for reductions in the pension plans for retired auto workers thus reducing the labor cost burden per car. c. the Job Bank would be a temporary benefit to employees who took voluntary severance packages that would be phased out as the manufacturers achieved the optimal workforce size. d. demand for American-made cars would increase and the excess workers could return to their factory jobs. ANS: D OBJ: 1 TOP: Application PTS: 1 DIF: Challenging NAT: AACSB Analytic REF: p. 35 LOC: Strategy 2. ____ refers to organizational use of employees to gain or keep a competitive advantage resulting in greater organizational effectiveness. a. Manpower planning b. Strategic HR management c. HR forecasting d. Operational HR ANS: B OBJ: 1 TOP: Definitional PTS: 1 DIF: Easy NAT: AACSB Reflective Thinking REF: p. 36 LOC: Strategy 3. Which of the following statements is FALSE? a. The organization’s existing employees limit the organization’s choice of strategy. b. Organizations survive and grow by choosing the strategy that will allow them to achieve low costs and innovative products. c. Most competitive...
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...that leads to outperformance and success human resource management the organizational function responsible for attracting, hiring, developing, rewarding and retaining talent staffing the process of planning, acquiring, deploying and retaining employees that enables an organization to meet its talent needs and to execute its business strategy total rewards the sum of all of the rewards employees receive in exchange for their time, efforts and performance direct financial compensation compensation received in the form of salary, wages, commissions, stock options or bonuses indirect financial compensation all the tangible and financially valued rewards that are not included in direct compensation, including free meals, vacation time and health insurance nonfinancial compensation rewards and incentives given to employees that are not financial in nature including intrinsic rewards received from the job itself or from the work environment Strategic risk, Operational risk, Financial risk and Compliance risk Managing human resources strategically helps organizations manage four types of risk: business strategy defines how a firm will compete in its marketplace talent philosophy a system of beliefs about how an organization's employees should be treated human resource strategy links the entire human resource function with the firm's business strategy global mindset a set of individual attributes that enable you to influence...
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...UTA-TJ EMBA2012 MANA 5340 – Strategic Human Resources Management PhD George S. Benson Group #5: Justin Hu, Jacky Wang, Albert Zhou, Lily Wang, Sharry Du, Yvonne Zhang, Jichang Sheng Dec 23rd, 2012 HUMAN RESOURCES AT THE AES CORPORATION UTA-TJ EMBA 2012 HUMAN RESOURCES AT THE AES CORPORATION Contents Introduction .................................................................................................................................................. 2 Organization Planning ................................................................................................................................... 6 Job Design ................................................................................................................................................... 10 Recruiting and Selection ............................................................................................................................. 11 Training and Development ......................................................................................................................... 12 Performance ............................................................................................................................................... 14 Compensation and Benefits ........................................................................................................................ 17 Employee Relationship ........................................................................
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...Resources departments are starting to move away from the traditional HR role to a more strategic position that unites the management of human capital with organizational goals. How could organizations overcome such a bottleneck? Through Talent Management. Talent Management is the implementation of integrated strategies or systems designed to increase workplace productivity by developing improved processes for attracting, developing, retaining and utilizing people with the required skills and aptitude to meet current and future business needs. Talent Management has moved away from being an administrative process to a continuous organizational practice with a strategic focus that drives organization outcomes. Human capital and Talent management are aligned in regards to the below management processes: * Succession planning * Development of leaders * Retention and career planning In this project, we have explored the talent management programs in several insurance organizations in Jordan. We've approached the organizations, did interviews with them, as well as surveys. Afterwards, we analyzed the data, and benchmarked the organizations' talent programs with the UNDP's talent program. We benchmarked against the United Nations Development Program (UNDP) in specific, as it gives a thorough overview about effective steps used in implementing talent management and the relevant role of Human Resources within organizations and organizations. We will discuss the results of benchmarking...
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