...Chapter one Introduction 1. Background to the study Although service quality in banking has been considered markedly important over the years, the topic has recently been afforded even more attention. (Crosby, 1979). Such interest may be the result of the reduced customer base and decreased market share affecting a portion of the banking industry. (Bowen and Hedges, 1993). The trend of world markets has changed noticeably from agricultural to service markets (Asian Development Outlook, 2007). All of the service businesses are trying their best to improve their service quality in order to make customers satisfied with their services, especially the banking sector. Banks now focus more on the quality standards in order to meet the basic needs and expectations of the customers. Once customer’s requirements are clearly identified and understood, banks are more likely to anticipate and fulfill their customers& needs and want (Juwaheer & Ross, 2003). The more satisfied the customers are, the more likely they are to return or prolong their stay with the company. Organizations are therefore increasingly being more customer-centric and are much interested not just in acquiring new customers, but more importantly, retaining existing customers. This is perhaps because it costs more to attract new customers than to retain existing ones. (Juwaheer & Ross, 2003) were of the view that the average business spends six (6) times more to attract new customers than to retain old...
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...Phida HR OUTSOURCING The Human Resources department or support systems are responsible for personnel sourcing and hiring, applicant tracking, skills development and tracking, benefits administration and compliance with associated government regulations. A human resources department is a critical component of employee well-being in any business, no matter how small. HR responsibilities include payroll, benefits, hiring, firing, and keeping up to date with state and federal tax laws. Any mix-up concerning these issues can cause major legal problems for your business, as well as major employee dissatisfaction. But small businesses often don't have the staff or the budget to properly handle the nitty-gritty details of HR. Because of this, more and more small businesses are beginning to outsource their HR needs. HR outsourcing services generally fall into four categories: PEOs, BPOs, ASPs or e-services. The terms are used loosely, so a big tip is to know exactly what the outsourcing firm you're investigating offers, especially when it comes to employee liability. A Professional Employer Organization (PEO) assumes full responsibility for your company's HR administration. Business Process Outsourcing (BPO) is a broad term referring to outsourcing in all fields, not just HR. Application service providers (ASPs) host software on the Web and rent it to users--some ASPs host HR software. E-services are those HR services that are web-based. Both BPOs and ASPs are often referred...
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... ………………………………………………………………………………………………….. ………………………………………………………………………………………………….. ………………………………………………………………………………………………….. ………………………………………………………………………………………………….. ………………………………………………………………………………………………….. ………………………………………………………………………………………………….. ………………………………………………………………………………………………….. ………………………………………………………………………………………………….. CONTENTS TOPIC: i TEACHER’S COMMENT ii CONTENTS iii IMAGE CATALOGUE iv THANK YOU v I. INTRODUCTION 1 II. BACKGROUND INFORMATION 2 1) The concept of Outsourcing and Human Resources Outsurcing 2 2) The situation of HRO in Vietnam 2 III. THE IMPACT OF USING HRO ON VIETNAM’S ORGANIZATION 3 1) The positive impacts 3 2) The negative impacts 5 IV. SOLUTIONS TO HRO IN VIETNAM 5 V. CONCLUSION 7 REFERENCES 8 IMAGE CATALOGUE o Figure 1 HRO services o Figure 2 The HR cost pyramid o Figure 3 HRO saving time (%) o Figure 4 9-step of HRO...
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...HR OUTSOURCING HR outsourcing is the process of sub-contracting human resources functions to an external supplier. Different HR functions that can be outsourced: One can outsource various HR functions depending upon the expertise required. Recruitment is unarguably the most common functions outsourced. However, it is functions like payroll, leave tracking, record keeping, etc. Recruitment: Outsourcing recruiting makes a lot of sense. The organization will always have the final say in the selection of the candidate, but the screening of resumes, and initial selections can be completely outsourced. Then there are also entrepreneurs who believe that recruitment should never be outsourced to an external party as they cannot fully understand the culture of your organization and will fully understand your requirements. Administration: This includes maintenance of employee master payrolls, tracking of leaves, any kind of employee redressal and grievances, entry and exit process, paying provident fund and life insurance, and so on. These are people- and effort-intensive activities that can be mastered over a period of time. This is the reason why it makes sense to outsource it to a service provider. Strategy: This includes setting up a performance management system, building an employee handbook, and undertaking activities that offer value addition for employees. A number of strategic drivers for outsourcing HR services are: 1. Reduced cost 2. Increased efficiency ...
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...Student ID- 84697126 October 17th How has HR changed and what needs to change for us to be successful in the future When a person thinks of HR they might think of many different things. They might think of the person that hired, trained, fired, did the payroll, or told them about their benefits. All of these things are crucial parts of HR but you might ask, “How HR has developed from where it used to be?” It couldn’t have happened in one day and it definitely couldn’t have happened over one night. In this paper I will look at where HR has come from and where it needs to go into the future. HR has changed immensely over the years but one of the main driving forces is the implementation of new laws. HR started at an employee at will state of mind (any employee can be fired or leave the company for any specific manner no matter what the cause.) This meant a company could come in and fire (jo shmo) for being Black, Mexican or even for wearing a green shirt. The way employee at will is now: they can still fire someone for any cause as long as they don’t discriminate against that individual (discrimination in regards to race, color, gender, religion or national origin. Also added in recent years are pregnancy, age, and genetic information) It seems like law makers have made a law for everything now a days. HR’s job is to help coworkers and the business adhere to all of these various stipulations. Since most HR professionals do a fairly good job at this aspect: they have been...
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...Outsourcing refers to a company which contracts with another company in order to provide services that might otherwise be performed by its own employees. These jobs are handled by separate companies that specialize in each service. Often, these outsourced employees may be located overseas. To know whether outsourcing is appropriate in a given circumstance, it is important to understand several key concepts. Many professors and experts in the business world have conducted case studies and general research to understand the implications of outsourcing, both positive and negative, and the environment which provides the greatest chances for a successful outsourcing venture. The framework within which a firm must decide whether to outsource or not will often involve a two-stage decision process. First, the business must make its decision and secondly, it must take managerial action to implement the decision. To begin with, a company must identify why outsourcing can be useful in an ideal situation and then evaluate whether their circumstances fit these conditions. Essentially, outsourcing can ideally benefit a company from a financial perspective since the outsourced work can be cheaper in and of itself and secondly because it allows the company to focus on other, perhaps more pressing issues. As important as it is that the company can identify appropriate conditions it is equally necessary to be aware of circumstances which will not provide an appropriate environment to outsource...
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...of one or more types of outsourcing (IT, HR, etc) review the pros and cons of outsourcing and examine its implications for future firm strategic direction. Introduction Outsourcing has become an increasingly popular strategic tool for worldwide organizations. Due to two key phenomena such as technological advances and globalisation, most organizations have be forced to continuously produce goods and services in higher qualities and lower prices. Since the benefits of outsourcing were revealed, it has become an increasingly widespread strategic tool among organizations. A survey reports that up to 90 percent of Australian employers had out sourcing at least one activity and at least half of them had outsourced cleaning, catering, maintenance and transport (Stone, 2005:61). On the other hand, only 5 percent of outsourced organizations had reported highly satisfied with the outsourcing services ( McIvor, 2000). To gain a better understanding of whether outsourcing should be continuously pursued as a strategic tool, the following essay will be divided into four main parts. The first section will contain an outline of the motives of outsourcing. The second will be an exploration of possible advantages and disadvantages associated with the process. The last part will include implications for the strategic direction of the firm. First and foremost, it is essential to define the key terms relevant to the essay. According to Stone (2005,60), outsourcing is an organization contracting...
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...Human Resource Management, | Group Work – Assignment #1 | Semester: Fall 2015/2016 | | Outsourcing and its presence in the business community in relation to human resource. What is outsourcing? Outsourcing is a business strategy that involves delegating parts of the work to workers, suppliers, or contractors that operate outside of the business. The primary goal of using this type of business strategy is to save money and be more cost effective. Common uses of this are when the business acquires goods from a supplier outside of the business, or utilizes services from experts or specialists that are otherwise unaffiliated with the primary business. Having these arrangements will allow a business to have access to supplies or skills that cannot be directly provided within their organization. What types of HR functions are generally outsourced? As global technology improves and advances, the use and effectiveness of outsourcing increases. Creative work is commonly handled by outside professionals. This could include such projects as website design, store layout, store interior design, brand packaging, and logos. Another function commonly outsourced is customer support. Either over telephones or the internet, companies can redirect their customers to customer support helplines that may not be in the same city, or sometimes even the same country. Two different, but functionally similar, tasks that are commonly outsourced are accounting and legal services. Both...
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...Demographic Complementarities and Outsourcing: Implications for India By: Mukul G. Asher Professor, LKY School of Public Policy National University of Singapore e-mail: sppasher@nus.edu.sg and Research Scholar Department of Economics National University of Singapore e-mail: amarendu@nus.edu.sg Amarendu Nandy May 2006 Draft – Not to be cited without permission The authors would like to thank anonymous referees, Sanjeev Sanyal, Amlan Roy, Anantha Nageswaran and R. Swaminathan for their useful comments. The usual caveat applies. _______________ This is a longer version of the paper prepared for IMRC 2006 conference on Global Competitiveness through Outsourcing: Implications for Services & Manufacturing, Indian Institute of Management (IIM), Bangalore, July 13-15, 2006. Abstract This paper analyses the implications of differing global demographic trends for India’s competitiveness in outsourcing and offshoring. It also briefly notes the implications of differing demographic trends among the Indian states. The paper argues that demographic complementarities with high-income countries provide India with one-time opportunity to sustain its growth rate and occupy all segments of global outsourcing and offshoring activities. India has used the labor cost advantage to gain reasonable market share in these activities. It however faces serious internal and external challenges in sustaining its international competitiveness, particularly with respect to labor cost....
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...a return on the money spent promoting the product. With the Human Resource Outsourcing organization that has been developed, our geographic location will play a strategic role in in the type and scope of our promotional plan. Being a startup we will initially have a smaller advertising budget for two reasons, one being that we do not want to expand or grow services too rapidly and secondly to make sure we are able to spend time evaluating the various promotional methods to determine where we are receiving the most value for our buck. The first thing I wish to state is that we will initially stay away from both television and radio advertising as these methods will not allow for targeting our specific market, small businesses, as well as we wish to provide. These methods will also limit our ability to provide detailed advantages of our services to small businesses and the cost for radio and television is initially not cost effective for the message we wish to convey. We will approach this promotional plan in a few different ways, we will use a sales or drop in approach where we identify prospective clients from available business data available and have our sales force solicit a consultation with the targeted business. We will provide printed information that will detail our organizations mission of saving client’s money, improving work culture and limiting risk exposure of noncompliance with HR related regulations. We will also use trade or regional business specific publications...
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...Personnel Review HR outsourcing: threat or opportunity? Jeroen Delmotte Luc Sels Article information: To cite this document: Jeroen Delmotte Luc Sels, (2008),"HR outsourcing: threat or opportunity?", Personnel Review, Vol. 37 Iss 5 pp. 543 - 563 Permanent link to this document: http://dx.doi.org/10.1108/00483480810891673 Downloaded on: 27 September 2014, At: 02:58 (PT) References: this document contains references to 65 other documents. To copy this document: permissions@emeraldinsight.com The fulltext of this document has been downloaded 10667 times since 2008* Users who downloaded this article also downloaded: Jean Woodall, William Scott#Jackson, Timothy Newham, Melanie Gurney, (2009),"Making the decision to outsource human resources", Personnel Review, Vol. 38 Iss 3 pp. 236-252 John Hindle, (2005),"HR outsourcing in operation: critical success factors", Human Resource Management International Digest, Vol. 13 Iss 3 pp. 39-42 Peter Brown, (2010),"The power of HR outsourcing", Strategic HR Review, Vol. 9 Iss 6 pp. 27-32 Access to this document was granted through an Emerald subscription provided by 131740 [] For Authors If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.com Emerald...
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...Perceived Impact of Outsourcing on Organizational Performance Dean Elmuti, Eastern Illinois University Introduction In todays world of ever increasing competition, organizations are forced to look for new ways to generate value. The world has embraced the phenomenon of outsourcing and companies have adopted its principles to help them expand into other markets (Bender 1999). Strategic management of outsourcing is perhaps the most powerful tool in management, and outsourcing of innovation is its frontier (Quinn 2000). Outsourcing is a management strategy by which an organization delegates major, non-core functions to specialized and efficient service providers, or as Corbett (1999). President of Michael F. Corbett and Associates asserts, Outsourcing is nothing less than the wholesale restructuring the corporation around our core competencies and outside relationships. The traditional outsourcing emphasis on tactical benefits like cost reduction (for example, cheaper labor cost in low-cost countries), have more recently been replaced by productivity, flexibility, speed and innovation in developing business applications, and access to new technologies and skills (Greer, Youngblood, and Gary 1999; Bacon 1999). The market for providers of outsourced services of all types is growing rapidly. In 1996, American firms spent over $100 billion in outsourced business activities (Casale and Overton 1997). Other estimates place the total U.S. market for outsourcing at more than $300...
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...What is HR consultancy firm- A Human Resource consultant not only concentrates of compliance issues and following best practices, but will also assist in employee programs and training and development. National PEO, for example, provides Human Resource services ranging from employee handbooks to compensation analysis. Professional Employer Organizations (PEO) has the staff and expertise to make business run more efficiently. They have special tax rules that company needs to utilize. Their employers are trained in the special needs that an HR consultancy business have. For example, Axis consultancy firm of bd have detailed knowledge pertaining to that community and its trends. It’s best to have a consultant that can take care of your local (city) needs along with whatever the state may require. Most major cities and even a few small metropolitan communities have Human Resource consulting firms. Knowledge or rules, laws and regulations are not the only things PEOs offer. Human Resource consulting needs are certain differ from business to business and city to city. They also provide any sort of service for employ’s background and other record checking. To recapitulate in short, whatever your particular business needs may be a reliable professional employer organization can be the key to your business running more efficiently and with a higher profit margin Arizona, Tuscon, Phonix, Las vegas are the most renowned international HR firm. Locally we have some renowned HR firms as...
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...The Trend of Outsourcing Jobs Did the major companies in America not think of global competition as they started to expand their operations and increase the salaries of the workers? Why is it such a hot topic now, why didn't this act of outsourcing start long ago? What effect does outsourcing have on the American economy, will we be able to stop this trend, and if so what will be the effect. In this paper I will be looking at and discussing why companies are outsourcing the jobs overseas. What benefits that companies are getting out of it, and the problems that face management, as outsourcing seems to be the trend of big business. INTRODUCTION Outsourcing is the delegation of tasks or jobs from internal production to an external entity (such as a subcontractor). Most recently, it has come to mean the elimination of native staff to staff overseas, where salaries are markedly lower. There has to be a reason that companies are going to outsourcing rather than hiring people within their own country. The bottom line, the single thing that drives every company in the world. What ever can increase the bottom line you can expect that companies will do everything possible to reach higher profits. Living in Michigan almost my whole life, and being feed from the hand of General Motors outsourcing hits close to home. I feel that the one thing that has increased outsourcing is the results of the union. Back in the time when the union started I believe what they were doing was something...
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...Pro Staffing Research for Outsourcing Payroll and Tax Services 03/15/2014 Table of Contents Project Scope 4 Requirements 4 Procurement Advantages 5 Savings Analysis 5 Procurement Disadvantages 6 Risks 6 Scoring Matrix for Procurement Proposals 8 Contractual Analysis 12 Considerations 12 Proposal Information 12 Legal Compliance Subjects 12 Proposal Questionnaire 12 Instructions to Proposers 13 Project Scope Pro Staffing research of outsourcing payroll and tax responsibilities versus in-house or new software package to evaluate which process will better meet the needs of corporation in both cost and quality of services. The analysis shows the cost savings for the procurement average 31% less than in-house management either by current processes or new software. Risk/ liability for Federal Tax withholding and reports is moved to the vendor. Requirements The solution needs to provide minimal 1. Direct deposit or mail for employees and contractual workers regular payroll, bonus pay, and expense checks 2. Handle workers compensation payment 3. Payroll withholding 4. Payroll tax management 5. Knowledge of international payments to employees or contractors 6. Online payroll management by Pro Staffing 7. Web access with required registration access for previous W2 and payroll check information for up to five years 8. Documents should be printable or delivery by mail 9. Strict documented protocol...
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