The Senior Vice President of Human Resources has just informed you that she woul

Question

The Senior Vice President of Human Resources has just informed you that she would like for you to research various HRM practices of Fortune 500 companies. This research will be presented to the board of trustees next month. They want to review other company’s best practices to help them realign their strategic initiatives. In organizational studies, the process of reviewing other organizations’ best practices and adapting them to one’s own organization is called “benchmarking.” Begin by identifying 2 -3 organizations listed in the Fortune 500. Once you have identified those companies, research best practices used by those organizations, paying particular attention to these HRM functional areas: Recruitment/On boarding Training & Development Employee/Labor Relations Performance Management Compensation & Benefits Incentives/Practices Research hints… In addition to searching for the specific organization name “and best practices” or “best HRM practices,” you might find it helpful to search for the specific organization name “and recruitment.” “Specific organization name and training & development,” and so forth. For example, if Walmart is one of your organizations, search terms could include: Walmart and best practices Walmart and best HRM practices Walmart and Recruitment Walmart and Onboarding Walmart and Training & Development Walmart and Employee Labor Relations Walmart and Performance Management Walmart and Compensation Walmart and Employee Benefits Walmart and Employee Incentives Etc. You can follow the above search patterns for the other organizations you select. (Hint: Walmart is a good organization to use for one of your companies). As a result of your research, you should synthesize at least two best practices for each of the HRM functional areas. To begin your paper, provide a summary of key details about the organizations you are using to benchmark HRM best practices. Who are the organizations? What do they do? Why are they a good candidate for benchmarking? This section of you paper only needs to be a paragraph or two. For the next section of your paper, evaluate the pros and cons of the best practices you have benchmarked in each functional area. For example, if external recruitment is a “best practice,” what are some pros and cons of external recruitment? As a guide, your evaluation of best practices in each functional area should be 1 to 2 pages. For the final section of your paper, justify the top best practices recommendation in each HRM functional area that you will make to the board of trustees. Imagine that you are actually going to present the recommendations to the board. What will you recommend? Why? How will you link them altogether to form a cohesive and persuasive presentation? Hint: Based upon your evaluation of those best practices in the earlier sections of the paper, summarize the key arguments and research support for your recommended practices to justify them to the board. This section of your paper should be 2 to 3 pages in length. Submit your report as an eight to ten page paper written in APA format to the Drop Box. Paper should include at least 5 references in APA format.

Explanation / Answer

Answer:

The two companies that are selected:

1. Tata Group:

a. Vast pool of technically competent engineers and managers.

b. Focus on development of technical capabilities.

c. Technical TrainingCenters, Alliance with technical Institutes.

d. Focus on development of managerial capabilities-MTC’s, executive training programs at premier business schools.

e. Career advancement schemes – ESS, FTSS,VAS.

HR Philosophy

1. Proper utilization of assets

2. Motivating people to work hard

3. Selective hiring

4. Job fitting

5. Training program

6. Better working environment.

HR Policies

1. Caring, show respect, compassion and humanity forcolleagues.

2. Work cohesively with colleagues across the group

3. Encourages self-sufficiency.

4. Employees' relatives at Pune have been encouraged toform various industrial co-operatives.

5. The Tata Motors Grihini Social Welfare Society caters to employees' women dependents‘ so as to enable a housewife earn a modest amount withoutneglecting their traditional duties towards the family.

6. Executive Selection Scheme (ESS) - fast track program for accelerated growth.

7. In-house vocational training and apprenticeshipprogram trains the technicians.

8. Rotational assignments and cross-functional mobilityallow employees to grow.

Reliance HR practices:

1. ESOP to its employees.

2. MDP (Management Development Programs): This policy is related to succession planning in organization. Management identifies high potential employees who leadership skills and train them to take up higher level positions in organizations. The program is long term and at times it starts even five years before employee would actually take up the leadership position.

3. Free food (like Google): This frees up employees mind from thinking what he is gonna order for lunch or is his sandwich gonna be soggy by the time he eats it, and let's him concentrate solely on his work.

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.