Introduction Of ourselves

06 January 2011

Essentials of HRM - MBA (Capital Markets) NMIMS

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Introduction Of The Topic

06 January 2011

Essentials of HRM - MBA (Capital Markets) NMIMS

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In many fast growing economies, it may be easier to access money and technology than good people

-Ed Gubman (author of Talent Solutions)

06 January 2011

Essentials of HRM - MBA (Capital Markets) NMIMS

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Essence of HRM
Successful organizations are particularly adept at bringing together different kinds of people to achieve a common purpose.

06 January 2011

Essentials of HRM - MBA (Capital Markets) NMIMS

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³You can get capital and erect buildings, but it takes people to build a business´ - Thomas J. Watson (Founder of IBM)

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Essentials of HRM - MBA (Capital Markets) NMIMS

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Framework of HRM
COMPETITIVE CHALLENGES EMPLOYEE CONCERNS Globalization Technology Managing Change Human Capital Responsiveness Cost Containment Background Diversity Age Distribution HRM Gender Issues Job Security Planning Educational Levels Recruitment Employee Rights Staffing Privacy Issues Job Design Training / Development Work Attitudes Family Concerns Appraisal Communications Compensation Benefits Labor Relations
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Competitive Challenges
1. Going Global  Globalization  Trade deficit (post 1991) : Imports>Exports  GATT in 1948 (post World War II)  European Union in 1986  NAFTA in 1994 (USA, Mexico and Canada)  APEC in 1989  Debates about exploitation  CSR
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Competitive Challenges
Globalization and HRM Attracting and retaining talent Creating and maintaining high performance cultures Managing diversity among employees Various employment laws and business practices Gauging learning needs of international employees Training manuals in different languages Different compensation plans Costs of relocation Manage µculture shock¶ of employees Different holidays and local customs
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Competitive Challenges
2. Embracing New Technology  Internet based business  Knowledge workers  µVirtual¶ workers

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Essentials of HRM - MBA (Capital Markets) NMIMS

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Competitive Challenges
Technology and HRM Training of virtual workers LMS HRIS (to increase productivity) # Payroll and Benefits # Recruitment # Employee and Manager Self-Service # PMS #Individual Learning Plans # Grievances # Attendance # Exits
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Competitive Challenges
Technology for HRM Most time consuming activities Fit of application to firms employee base (Language/no. of kiosks) Upgrade / customize the software Time and costs for the same Compatibility with current systems User friendliness Availability of technical support by vendor / internally Training of technology Initial costs and AMC costs
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Competitive Challenges
3. Managing Change (Pro-active / Reactive)  TQM  Continuous Improvement  Downsizing  BPR  Outsourcing

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Competitive Challenges
3. Managing Change (Pitfalls)  Lack of urgency  Lack of powerful coalition to guide efforts  Lack of leaders who have a vision  Lack of appropriate communication  Not addressing issues to new vision  Lack of systematic planning  Lack of creating short term wins  Declaring victory too soon  Not anchoring changes in corporate culture
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Competitive Challenges
3. Managing Change (Success Factors)  Link change to business Strategy  Create quantifiable benefits  Engage key stakeholders early on  Integrate required behavior changes  Effective leadership  Implement and sustain change  Consistent communication  Sell commitment to change and not communication to change
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Competitive Challenges
An organization¶s ability to learn and translate that learning into action rapidly is the ultimate competitive business advantage. - Jack Welch (General Electric)

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Essentials of HRM - MBA (Capital Markets) NMIMS

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Competitive Challenges
4. Managing Talent  Develop superior knowledge, skills and experience  Train in non-transferrable areas  Provide development assignments  Flexible job schedules  Empower employees  Leverage on learning (Boeing, Berkshire Hathway)
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Competitive Challenges
5. Responding to Markets  BPR (Success factors are) # Create an environment for change # Effective communication and leadership # Review and modify processes

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Essentials of HRM - MBA (Capital Markets) NMIMS

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Competitive Challenges
5. Responding to Markets (TQM)  1940s by Edward Deming (Japanese resurrection post World War II)  A set of principles and practices whose core ideas include: a. Understanding customer needs b. Doing things right the first time c. Striving for continuous improvement  Lacuna as short term fixes
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Competitive Challenges
5. Responding to Markets (Six Sigma) A statistical tool for translating a customer¶s needs into separate tasks and defining the best way to perform each task. Key aspect s are:  Recognize  Define  Measure  Analyze  Improve  Control (Implemented 15 years ago; White Belt, Yellow Belt, Green Belt, Black Belt)
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Competitive Challenges
6. Containing Costs  Downsizing  Outsourcing,  Off shoring  Employee Leasing

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Essentials of HRM - MBA (Capital Markets) NMIMS

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Competitive Challenges
6. Containing Costs (Downsizing)  Planned elimination of jobs  VRS  Sabbaticals for continuing education  Increase the Performance Related Pay

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Essentials of HRM - MBA (Capital Markets) NMIMS

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Competitive Challenges
6. Containing Costs (Disadvantages of Downsizing)  Severance and rehiring costs  Accrued vacation and sick-day payouts  Pension and Benefit payoffs  Potential lawsuits from aggrieved employees  Loss of institutional memory (Human Capital per se)  Loss of trust in management  Lack of employees when economy rebounds  Survivors who are risk averse, paranoid and political
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Competitive Challenges
6. Containing Costs (Advantages of not Downsizing)  A loyal and more productive workforce  Higher customer satisfaction  Readiness to snap back with the economy  A recruiting edge  Workers who are pro-innovation due to job security  Eg, Southwest Airlines, Continental airlines, Bharti, Reliance, Dabur

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Essentials of HRM - MBA (Capital Markets) NMIMS

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Competitive Challenges
6. Containing Costs (Outsourcing, Off shoring and Employee leasing)  Transaction based and not relationship based  Work for more than one employer in lifetime  Internet and more work opportunities  Freelance / contract basis

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Essentials of HRM - MBA (Capital Markets) NMIMS

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Competitive Challenges
6. Containing Costs (Outsourcing)  Hiring someone outside the company to perform the tasks that could be done internally  Eg. Accounting firms, advertising firms, facilities management, training etc.

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Essentials of HRM - MBA (Capital Markets) NMIMS

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Competitive Challenges
6. Containing Costs (Off shoring / Global sourcing)  Moving of jobs overseas  Challenges # Finding foreign vendors # Loss of productivity during transition # Language difficulties # Foreign regulatory challenges # Political and economic instability

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Essentials of HRM - MBA (Capital Markets) NMIMS

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Competitive Challenges
6. Containing Costs (Employee Leasing)  Large company takes over the management of the smaller company¶s HR tasks and becomes a co-employer  Benefits for organization # Supplement workforce during peak times # Replace leave vacancies # Replace sudden terminations  Benefits for employees # Short term option and gain experience # may lead to full time permanent career
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Demographic Concerns
Factors of Diversity  Age  Spiritual practice  Physical Attributes  Sexual Orientation  Education background  Income  Martial status  Geographical location  Parental status  Gender  Ethnicity
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Demographic Concerns
Rationale for Diversity  Variety of viewpoints and business ideas  Helps formulate best business strategy  Service customers better  Increased market place  Better utilization of talent and creativity  Increased quality of team problem solving

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Essentials of HRM - MBA (Capital Markets) NMIMS

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Diversity in Workplace
Leadership Culture Organization wide image Fosters mutual respect Sense of belonging Differences are accepted Equal respect Equal performance Opportunity Equal pay Values diversity Promotion of multicultural employees Developing new skills Access to top positions Equal opportunities Take all employees seriously Recognize and support all Communicate to all Value a diverse workplace Respect cultural beliefs and needs of all

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Essentials of HRM - MBA (Capital Markets) NMIMS

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Demographic Concerns
Diversity and HRM  Employee concern for privacy # Data protection laws # Background checks on employees¶ access to confidential data  Changing attitude towards work # Unconventional roles # Part-time work, Job Sharing # CSR # Paternity leave # Flexi ± timing # Assistance with family problem
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Line And HR Partnership
1. HR is the responsibility of Line and HR and employees 2. Role of HR  Advice and Counsel  Service  Policy Formulation and Implementation  Employee Advocacy

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Essentials of HRM - MBA (Capital Markets) NMIMS

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HR Competencies
1. HR (domain) Mastery 2. Business Mastery 3. Change Mastery 4. Personal Credibility  Develop Personal equations with customers  Demonstrate values of the firm  Standing up for one¶s belief  Being fair in one¶s dealings
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Essence of HRM
Thank You and Have a nice day!

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Essentials of HRM - MBA (Capital Markets) NMIMS

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