According to the case study, which of the following employee concerns do Lloyds
ID: 353685 • Letter: A
Question
According to the case study, which of the following employee concerns do Lloyds of London employees have?
New HR Strategy Makes Lloyd's A “Best Company”
After a mere 320 years in business, the iconic global insurer Lloyd's of London finally set out to establish its first true HR strategy, starting with the hiring of HR Director Suzy Black in 2009. “I was brought in to transform the HR function from one modeled on an old-style personnel office to a function that is more cutting edge, business focused, and value adding,” says Black.
Black's first order of business was to evaluate the current state of affairs, particularly how the corporation's senior managers perceived the HR role. With this information in hand, Black and her team began to develop an overarching strategic agenda as well as specific tactics, addressing everything from recruitment to performance management to basic policies to rewards and compensation. Early on, Black admits, her main priority was simply “getting the basics right,” an objective that was made more challenging by the global reach of the company that demanded flexibility and variation to meet the needs of all Lloyd's employees while still benefitting the company.
Changing long-time employees' perception of HR then took a bit of convincing, but employees quickly began to recognize the value of Black's actions. Through repeated presentations, employees worldwide grew to appreciate Black's insistence on transparency regarding the nature of the employer/employee relationship. Gradually, they could see how the HR strategies were effectively creating conditions in which they could develop in their careers, be successful, and find meaning and value in their work. Today, Lloyd's employees list the company's challenging work environment, healthy incentive programs, and meaningful community outreach programs among the key reasons they enjoy working for the insurance giant.
And Black's efforts are now gaining recognition outside the firm, positioning the company as a desirable place to work. In 2011, Lloyd's landed on the sunday Times Top 100 Best Companies to Work For (in the UK) list and was hailed as one of the UK's Top 40 Business Brands by an independent researcher. Black emphasizes that the transformation was a companywide effort, and Lloyd's CEO Richard Ward adds, “I believe Lloyd's to be an inspiring and rewarding place to work and am pleased that our staff agree. I am extremely proud of the achievements of the corporation over the last 12 months and thank all Lloyd's employees for their continuing dedication, commitment, and professionalism.”
Ironically, this leadership position is the first HR position Black has ever held, having risen through the ranks in other arenas in business. But her experience has given her a clear definition of the ideal characteristics of the HR professionals of the future. Black says they must be commercial, challenging, and focused on delivery and excellence. “They must understand change and transformation, excel at operations, and balance tactical and strategic thinking and acting.” She adds, “They will have to be able to manage and navigate organizational complexity and ambiguities and not be afraid to say no occasionally in order to establish appropriate boundaries with the business.”
According to the human resources competency model, which of the following is not one of the three basic competencies required by human resources managers such as Suzy Black?
According to the case study, which of the following employee concerns do Lloyds of London employees have?
Concerns about their on-the-job rights Concerns about work-life balance Concerns about the diversity of the firm’s workforce Privacy concernsNew HR Strategy Makes Lloyd's A “Best Company”
After a mere 320 years in business, the iconic global insurer Lloyd's of London finally set out to establish its first true HR strategy, starting with the hiring of HR Director Suzy Black in 2009. “I was brought in to transform the HR function from one modeled on an old-style personnel office to a function that is more cutting edge, business focused, and value adding,” says Black.
Black's first order of business was to evaluate the current state of affairs, particularly how the corporation's senior managers perceived the HR role. With this information in hand, Black and her team began to develop an overarching strategic agenda as well as specific tactics, addressing everything from recruitment to performance management to basic policies to rewards and compensation. Early on, Black admits, her main priority was simply “getting the basics right,” an objective that was made more challenging by the global reach of the company that demanded flexibility and variation to meet the needs of all Lloyd's employees while still benefitting the company.
Changing long-time employees' perception of HR then took a bit of convincing, but employees quickly began to recognize the value of Black's actions. Through repeated presentations, employees worldwide grew to appreciate Black's insistence on transparency regarding the nature of the employer/employee relationship. Gradually, they could see how the HR strategies were effectively creating conditions in which they could develop in their careers, be successful, and find meaning and value in their work. Today, Lloyd's employees list the company's challenging work environment, healthy incentive programs, and meaningful community outreach programs among the key reasons they enjoy working for the insurance giant.
And Black's efforts are now gaining recognition outside the firm, positioning the company as a desirable place to work. In 2011, Lloyd's landed on the sunday Times Top 100 Best Companies to Work For (in the UK) list and was hailed as one of the UK's Top 40 Business Brands by an independent researcher. Black emphasizes that the transformation was a companywide effort, and Lloyd's CEO Richard Ward adds, “I believe Lloyd's to be an inspiring and rewarding place to work and am pleased that our staff agree. I am extremely proud of the achievements of the corporation over the last 12 months and thank all Lloyd's employees for their continuing dedication, commitment, and professionalism.”
Ironically, this leadership position is the first HR position Black has ever held, having risen through the ranks in other arenas in business. But her experience has given her a clear definition of the ideal characteristics of the HR professionals of the future. Black says they must be commercial, challenging, and focused on delivery and excellence. “They must understand change and transformation, excel at operations, and balance tactical and strategic thinking and acting.” She adds, “They will have to be able to manage and navigate organizational complexity and ambiguities and not be afraid to say no occasionally in order to establish appropriate boundaries with the business.”
Explanation / Answer
1.
D. Privacy concerns
Demand for transparency, dedication and flexibility may require the organization to track their employees and it can breach the privacy of the employees.
Case study for this question (Q1) is not provided.
2.
D. Outsourcing mastery
The human resource competency model demand different types of competency in the HR professionals to lead the organization and become successful. With views of the Suzy Black, it is the personal credibility at work that develops trust, it is the strategic understanding of the market that creates balance between thinking and acting as well as it is the ability to develop human resources to meet different challenges. These three competencies are demanded by Suzy Black.
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