HR Management Assignment help on : strategic Human Resource Management
1.0 Introduction
The Human Resource Management policies/Practices have been defined as managing employee based activities such as Manpower planning, job analysis, recruitment, selection, training and development, performance management, retention, handling grievances within an organization either domestically or Internationally. It is being linked with strategy of an organization and is known as strategic Human Resource Management. HRM is a method of developing human capital for achieving long term goals by coping up with external challenges related to business such as technology and cost. It provides multiple benefits when organization Plans for overseas expansion. In an era of globalization performance management system in an organization can be linked with organizational strategy. This term was first time used by Ruh and Beer on 1976, to increase Intellectual capital for performing superiorly. It is a best option that companies can utilize strategically for attracting, retaining, developing and aligning the employees for achievement of goals (European Business Journal 2004). It is a broader aspect of communicating to all employees, managers, leaders for performing in a better manner within parameters of legal and social framework. It will link overall performance with organizational mission, vision, and strategic goals of an organization. Effective implementation of performance management helps in meeting expectations of all the stakeholders, improve quality of work, counsel the employees, plan merit based pays, link strategy with promotions and retrenchment, motivate employees, validate the Hr policies and standards and justify decisions of top management. The drivers of business such as cost, innovation, motivation, knowledge, leadership, feedback process can be well integrated with performance management system in a strategic manner. HRM is a flexible process to deal with employee’s behavior and develop them according to the required competencies for performing particular job (University of Calabar 2010).
1.1Performance Management System (Balance Score Card)
There are several steps of Performance Management System (PMS) which needs to be followed by Leaders of an organization while following performance practice. They are performance planning, execution, assessment, review, renewal and re-contracting. There are different types of Performance Management System being applied in an organization such as 3600 Appraisal method, Management by Objectives method(MBO), Narrative Essay method, Balance score card method, Graphical and Behaviouraial rating method, and hallo effect method. The most effective and feasible method of linking performance of employees with organizational overall strategy is Balance score card method. It is one of the methods developed by Kaplan for identifying metrics of business and linking it with future objectives by aligning all the factors. It provides a platform when information is being communicated transparently either externally or internally. This method was being discovered by Robert Kaplan to monitor performance of business towards strategic goals. It explains the methods and procedures for creating an edge over the competitors (Balanced Scorecard Institute 2012). The model of Balance Score Card is shown below.
The below four factors of Balance Score Card shown in the diagram can be interlinked with overall strategy of an organization are Financial, Customers, Internal Business Processes, and learning & growth. The learning and growth factor includes aspects such as increasing employee’s satisfaction, Reducing employee’s turnover, developing employee’s competencies with proper talent acquisition & management strategy, Aligning personal goals and providing learning opportunities. It will support Internal Business Process (IBP) which includes aspects such as understanding customers, developing new products, minimizing problems, aligning processes, improvement in technology and continuous feedback. It will support the factors such as customer delivery, quality management, providing satisfaction to customers, increasing confidence level of customer, and customer rate. This process will be finally interlinked with financial factor that includes aspects such as return on investment, appropriate asset utilization capital employed, cash flow generated on quarterly and annual basis (Alan Chapman 2012).
1.2 Strategic Significance of HRM
There are several advantages of HRM because every policy or practice related to HRM will be followed according to certain standards set by organization or law. It helps in planning effective training programs which are linked with decisions of performance management system such as succession planning, transfers, promotion and etc. The application of Balance Score Card as a tool of performance practice will improve the profits of Business, meet the expectations of stakeholders, ensuring transparent communication & equitable treatment, and provide better quality of work. Employees can be motivated regarding their work, link individual objectives with objectives of business, provides continuous feedback on drivers of business and employees performance. The management and leadership development programs can be conducted for better career opportunities of employees & organization (Managementstudyguide.com 2012). Human Resource Management process creates accountability of employees towards the top management. It is a process that aligns with overall strategy and fits employees into organizational culture. It is supported by top management and employee’s commitment is being ensured because motivational factor is being attached towards it. Employees and business are being promoted without biasness by the process of Human Resource Management. Implementing Balance Score Card as a part of Performance Management in an organization ensures best practices to be followed by identifying key performance indicators, develops an effective platform for effective communication channel, ensure learning with appropriate feedback process, minimize the wastage of time and other resources, created an edge over other, facilities in decision making process and improve the process of business. It helps in adding value to organization in form of employees and new innovation. The implementation of HRM will provide multiple benefits to everyone who is associated with organization and delegates roles and responsibilities to all the employees (CIMA 2005).
1.3 Contextual Factors to Strategic Significance
There are certain contextual factors that affect’s overall performance of organization such as changes in the demographic structures, new emerging technologies, culture, mobility of labor, skill gaps among employees, ethical aspects, attitudes and behavior of stakeholders, media, economic cycles, politics, law and etc. These factors have forced organizations to implement performance management system which can be linked with overall strategy of business which is being strategically connected in form of Balance Score Card. This process helps an organization to strategically determine the objectives of business, ensure commitment from all the employees, define process, conduct test on pilot basis, communicate, plan training programs, implement and evaluated with appropriate feedback process. Although it is a time consuming process but it provides ample of opportunities for an organization along with their employees. The mentoring and coaching programs helps employees to get emotionally attached with organizations where they are currently working. It is a most suitable method to fill up gaps and manage organizational change & development process. According to Michael Porter’s theory of generic strategies, an organization should analyze three factors such as cost, focus and differentiation in terms of technology, employees & its products. The thirst among leader’s & organizations for continuous growth has forced them to mark their global presence. This is only possible if internal strategies of business can be matched with external strategies and gaps can be minimized.
2.0 Case Study of Proctor & Gamble
Proctor & Gamble is one of the largest American multinationals of world. It was founded on 1837 by James gamble and William Proctor. It has been dealing in different segments such as grooming, beauty, Fabric care, baby care and Health care. It has been taking care of consumers and meeting consumer requirements from head to toe. It has been leader and providing quality products such as Tide, Pampers, Head & Shoulders, and etc. There are 140,000 employees who work across 80 countries of world. Proctor & Gamble is having its 26th innovating facility of the world consisting of more than 1000 PHD Researchers who are associated with proctor and Gamble Company. Meaning is added to lives of consumers in a positive manner. Organization focuses on doing right things by being honest and committed. Every employee is associated with vision of P&G where they need to go. Individual mastery is being valued among employees in a corporate manner.
2.1 Issues Faced
There are several issues being faced by Proctor & Gamble. In recent year’s company have been reformulating but has not been innovating new products for consumers. It has been facing tuff competition in term of digital marketing being done by competitors to grow their business. As a result company has been losing its consumers in U.S market & other countries of the world. Consumers have been switching to cheaper products being supplied by their competitors such as Unilever. The company is losing its market share, effectiveness of P&G advertisement is decreasing day by day, less rating points are being given by retailers, loopholes in its distribution channel can be noticed, sustainability issues are emerging, facing market issues, and competition faced in terms of Brand & line extensions of Products. It shows that is has been failing to cope up with the challenges and emerging competition all across the world (NYSE Euronext 2012). More over the organization is being criticized by NGO’S for several environmental issues such as experimenting on animals and etc.
3.0Literature Review
The Human resource Management is a term which is popular these days. In past it was known as personnel management. According to (Barney 1995) HRM theory states that HRM policy helps in developing competitive edge which is sustainable and non imitable in nature (Universiti Sains Malaysia 2006). The Balance Score Card is being used by organizations to improve the performance by relating internal and external factors. According to (Marvin Soder 2001) the key performance indicators of employees and business can inter- linked with Balance score Card. The better performance management system helps in growing the revenue and sales of an organization. The tendency within an organization to move from performance management to performance appraisal has developing the employees and employers. It is an equal footing process which ensures commitment from every employee of an organization. It becomes less effective if there is loophole in communication process. It measures overall performance on qualitative and quantitative basis. The effective implementation of Performance management system links its results with the drivers or organization that helps in creating an edge over others in an excellent manner (Nexus Strategic Solutions 2009). Human Resource Management helps in implementing polices based on skills, knowledge and abilities. It deals with external contingencies with higher commitment level for organizational performance. Appropriate performance management system helps in proper job designing and goal setting. The Human Resource Management helps in encouraging skills, abilities, training and etc. The outcomes are being reflected in their behavior and factors such as conflict, absenteeism, turnover, complaints and etc can be eliminated.
4.0Linking Case Study with HRM
The issues which are being faced by Proctor & Gamble at U.S and other countries of world can be linked with latest practice being followed in HRM. It is linked with one of the methods of performance management system known as Balance Score Card. It will link strategy of Business by integrating with it drivers. The diagram is being shown which will help in relating the issues which can be resolved by linking with an effective Performance Management system.
The HRM Practice/Policies which is much discussed and interlinked with business is performance management system. It is one of the best methods to motivate the employees for producing their best. The issues faced by Proctor & Gamble is being linked with four factors of Balance score card which will help in resolving the issues and link it with organizational long term strategy. The four factors are known as financial, customer, internal business process and learning & growth. Each factor will be supporting other factors by linking with overall P&G strategy. According to learning and growth environmental issues can be resolved by developing a proper working climate and linking it with employee’s competencies which can be developed by training them. Learning and growth will support internal business process. The problems that emerged in terms of internal business process were competition in terms of digital marketing and loopholes in distribution channel. It can be resolved by timely distributing products to consumers and managing the risks. It will support customers and solve problems like lack of innovation and ineffective advertisement by innovating perfect quality products and developing effective advertisement for consumers. This third factor will support financial factor and solve issues such as higher cost of products can be minimized to create traffic of consumers. The decreased market share can be increased to become business leader across the globe. It can be implemented by Leaders of P&G who must be participative, supportive and charismatic in nature. It will also link rewards and recognition process of employees in a strategic manner and plan for transfers, promotion and succession planning process.
5.0 Conclusion & Recommendations
Thus Proctor & Gamble is a well known multinational which exist all across the world. The organization can become leader in market by implementing latest HRM practice/policies for facing issues and challenges either internally or externally. The Leader’s of Proctor and gamble should identify loopholes which is hampering their organizational growth and overall strategy. The future of any organization depends upon business drivers such as cost, innovation, motivation, knowledge, leadership, feedback process which can be well integrated with performance management system in strategic manner. The emerging gaps between consumers and Proctor & Gamble business are providing opportunities to its competitors. The Balance score card is one of the effective performance management systems which will link HRM with organizational strategies of Proctor & Gamble. The issues being faced by proctor & Gamble such as of losing market share, ineffective marketing, less rating being given by consumers and loop holes in its distribution channel, criticism done by NGO’s in terms of environmental issues, and etc has been linked with four factors. It will help P&G to cope up with emerging competition. The issues will be analyzed in every stage for linking it with overall strategy in a transparent manner. The learning and growth will develop a better climate, competencies and culture. Internal Business process will help in managing several risks associated with business and distribute the products on timely basis. Customer’s traffic can be created by P&G all across the globe by focusing more on innovation, and communicating well with effective advertisement process with their consumers. Financial factor will generate more revenue for P&G and it can become cost leader in the market. Every factor will support other factors of Balance Score card in a strategic manner. Although it is a time consuming process but it can provide multiple benefits to management of P&G and its stakeholders. The values and principles of P&G are to contribute consumers positively, and eliminate barriers that affect organizational growth. The Sustainability factor can be attached with operations, packaging and products for eliminating environmental issues. It will help in achievement of strategic Goals in a SMART manner where ‘S’ denotes goals must be specific, ‘M’ denotes goals must be measurable, ‘A’ denotes goals must be achievable, ‘R’ denotes goals must be realistic and ‘T’ denotes goals must be time bound. Therefore Performance Management system/Balance Score Card will be helpful for P&G to cope up will several issues and challenges emerging externally or internally (Balance Score Card Institute 2012).
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