Executive Summary
Human Resource is an area, which has proved its worth in the history of business world. The organizations that opt it at very earlier stage and implement innovative and effective techniques get their reward in the form of high performance and marvelous growth. Darwin’s doctrine of ‘survival of the fittest’ is valid in the business world too and the organizations that want to survive in the market have to be fit in each and every respect. Among all the aspect of organizational functions, Human Resource Management is the backbone of all. It serves as the spinal cord of whole system and integrates different functioning efficiently and effectively.
Human Resource Management has lot of functions to do, dealing with the ‘Human’ asset of organization from hiring to firing them. In this process, it performs the functions of human resource planning, recruitment, selection, orientation and training, monitoring, performance appraisal and motivating the employees for the sake of higher performance.
Bank Alfalah Ltd. & Pepsi Co. has a rich history of success and in its success, among other factors; Human Resource Management has a pivotal role. In these organizations, there is a well-integrated, established and innovative human resource system that judges the employees, their potentials and their weaknesses and does corrective actions without any bias, discrimination and without any delay. In these organizations, there are well-organized methods for all of the HRM functions. Through proper planning of HRM, they try to improve their employee’s performance as well as their employee’s job satisfaction level to achieve their objectives.
But, as is normal, there are also some weaknesses in these organizations that should be taken care to get more accurate and perfect results from the HRM system. But, finally, we can conclude that apart from weaknesses the HRM system of Bank Alfalah Ltd. and Pepsi Co. are working marvelously and this can further be enhanced by taking certain steps some of which are given in the end.
Our main focus in this report is on the HR functions and their requirements in both of the organizations. This report has been prepared as the requirements of the course of MBA. We have split this report in various sections and have tried to keep them in an organic sequence. We have tried our best to present this report in concise but comprehensive manner.
Human Resource Management
“Human Resource Management consist those activities designed to provide for and coordinate the Human Resources of an organization “.It can be defined as “all the practices, systems and procedures implemented to attract, acquire, develop and manage human resources to achieve the goals of an organization.
Human resources of an organization is one of the largest investment. Government reports shows that approximately 65% of national income is used to compensate employees.
Proper management of Human Resources of an organization is very important because People are important assets of an organization. The success of an organization is highly depend on the performance of the people. But the People’s performance depends upon careful attention to them. Therefore, an organization cannot achieve its goals and objectives without proper Human Resource Management.
Human Resource Functions
Tasks and duties performed in both large and small organizations to provide for and coordinate human resources. Human Resource Function encompasses a variety of activities that significantly affect all areas of organization. Human Resource Functions are given below
Ø Human resource planning.
Ø Recruitment/ Decruitment.
Ø Selection.
Ø Orientation and Training.
Ø Career Development.
Ø Performance management system.
Ø Compensation and Benefits.
Human Resource Planning
Human resource planning is defined as “process of getting the right number of qualified people into the right job at the right time.”
HRP is also define as “the system of matching the supply of people internally (existing employees) and externally (those to be hired or searched for).”
The long term success of any organization ultimately depends on having the right people in the right at the right. Organization objectives and the strategies for achieving those objectives are meaningful only when people with the appropriate talents, skills and desire are available to carry out those strategies.
Types of Planning
There are three types of planning
Ø Human resource planning
Ø Strategic planning
Ø Tactical or Operational planning
Strategic Planning
Strategic planning is not about how to position products and businesses within an industry. Rather, it is about changing industry rules or creating tomorrow’s industries. The biggest benefit of strategic planning is its emphasis on growth and it encourages managers to look for new opportunities, rather than simply cutting more workers. Strategic planning may result in new business acquisitions, new capital investment or new management approaches. It provides direction and scope to tactical planning.
Tactical or Operational Planning
This aspect of planning addresses issues associated with the growth of current or new operations, as well as with any specific problems of planned growth. Purchasing new or additional office equipment to enhance efficiency (e.g. computer hardware of software).
How HRP Relates to Organizational Planning
Human resource plan must be derived from the long term operational plans of the organization. The success of HRP depends largely how closely the human resource department ca integrate effective people planning with organization’ business planning process. HRP contributes significantly to the strategic management by providing the means to accomplish the outcomes desired from the planning process
Project is available
Click here to Request
Human Resource is an area, which has proved its worth in the history of business world. The organizations that opt it at very earlier stage and implement innovative and effective techniques get their reward in the form of high performance and marvelous growth. Darwin’s doctrine of ‘survival of the fittest’ is valid in the business world too and the organizations that want to survive in the market have to be fit in each and every respect. Among all the aspect of organizational functions, Human Resource Management is the backbone of all. It serves as the spinal cord of whole system and integrates different functioning efficiently and effectively.
Human Resource Management has lot of functions to do, dealing with the ‘Human’ asset of organization from hiring to firing them. In this process, it performs the functions of human resource planning, recruitment, selection, orientation and training, monitoring, performance appraisal and motivating the employees for the sake of higher performance.
Bank Alfalah Ltd. & Pepsi Co. has a rich history of success and in its success, among other factors; Human Resource Management has a pivotal role. In these organizations, there is a well-integrated, established and innovative human resource system that judges the employees, their potentials and their weaknesses and does corrective actions without any bias, discrimination and without any delay. In these organizations, there are well-organized methods for all of the HRM functions. Through proper planning of HRM, they try to improve their employee’s performance as well as their employee’s job satisfaction level to achieve their objectives.
But, as is normal, there are also some weaknesses in these organizations that should be taken care to get more accurate and perfect results from the HRM system. But, finally, we can conclude that apart from weaknesses the HRM system of Bank Alfalah Ltd. and Pepsi Co. are working marvelously and this can further be enhanced by taking certain steps some of which are given in the end.
Our main focus in this report is on the HR functions and their requirements in both of the organizations. This report has been prepared as the requirements of the course of MBA. We have split this report in various sections and have tried to keep them in an organic sequence. We have tried our best to present this report in concise but comprehensive manner.
Human Resource Management
“Human Resource Management consist those activities designed to provide for and coordinate the Human Resources of an organization “.It can be defined as “all the practices, systems and procedures implemented to attract, acquire, develop and manage human resources to achieve the goals of an organization.
Human resources of an organization is one of the largest investment. Government reports shows that approximately 65% of national income is used to compensate employees.
Proper management of Human Resources of an organization is very important because People are important assets of an organization. The success of an organization is highly depend on the performance of the people. But the People’s performance depends upon careful attention to them. Therefore, an organization cannot achieve its goals and objectives without proper Human Resource Management.
Human Resource Functions
Tasks and duties performed in both large and small organizations to provide for and coordinate human resources. Human Resource Function encompasses a variety of activities that significantly affect all areas of organization. Human Resource Functions are given below
Ø Human resource planning.
Ø Recruitment/ Decruitment.
Ø Selection.
Ø Orientation and Training.
Ø Career Development.
Ø Performance management system.
Ø Compensation and Benefits.
Human Resource Planning
Human resource planning is defined as “process of getting the right number of qualified people into the right job at the right time.”
HRP is also define as “the system of matching the supply of people internally (existing employees) and externally (those to be hired or searched for).”
The long term success of any organization ultimately depends on having the right people in the right at the right. Organization objectives and the strategies for achieving those objectives are meaningful only when people with the appropriate talents, skills and desire are available to carry out those strategies.
Types of Planning
There are three types of planning
Ø Human resource planning
Ø Strategic planning
Ø Tactical or Operational planning
Strategic Planning
Strategic planning is not about how to position products and businesses within an industry. Rather, it is about changing industry rules or creating tomorrow’s industries. The biggest benefit of strategic planning is its emphasis on growth and it encourages managers to look for new opportunities, rather than simply cutting more workers. Strategic planning may result in new business acquisitions, new capital investment or new management approaches. It provides direction and scope to tactical planning.
Tactical or Operational Planning
This aspect of planning addresses issues associated with the growth of current or new operations, as well as with any specific problems of planned growth. Purchasing new or additional office equipment to enhance efficiency (e.g. computer hardware of software).
How HRP Relates to Organizational Planning
Human resource plan must be derived from the long term operational plans of the organization. The success of HRP depends largely how closely the human resource department ca integrate effective people planning with organization’ business planning process. HRP contributes significantly to the strategic management by providing the means to accomplish the outcomes desired from the planning process
Project is available
Click here to Request
No comments:
Post a Comment
Thank you for your visit.