Business Notes (7 Pages)

You might also like

Download as pdf
Download as pdf
You are on page 1of 7
identify the five steps in the training and development proc: Step 1: Decide If Training is needed ‘ne frst step in the training process is @ basic one: to determine whether a problem can be solved by training. Training is conducted for one or more of these reasons: 1) Required legally or by order OF regulation 2) to improve job skills or move into a different position 3) for an organization to cera Gompetitive and profitable. if employees are not performing their jobs properly, itis often assumed that training will bring them up to standard. This may not always be the case. Ideally, Guning should be provided before problems or accidents occur and should be maintained as part of quality control Step 2: Determine What Type of Training is needed Trarmplovees themselves can provide valuable information on the training they need. They know What they. need/want to make them better at their jobs. Just ask them! Alco, regulatory training. Clearly stated training objectives will help employers communicate what they want ther employees to do, to do better, or to stop doing! Learning objectives do not necessarily have to be Wutten, but in order for the training to be as successful as possible, they should be CLEAR and thought-out before the training begins. Step 4: Implementing the Training ‘Training should be conducted by professionals with knowledge and expertise in the given subject area: Period. Nothing is worse than being in a classroom with an instructor who has no knowledge of what they are supposed to be teaching! Use in-house, experienced talent or an outside Professional training source as the best option. The training should be presented so that its Qyganization and meaning are clear to employees. An effective training program allows employees to Participate in the training process and to practice their skills and/or knowledge. Employees should be encouraged to become involved in the training process by participating in discussions, asking questions, contributing their knowledge and expertise, lear ning through hands-on experiences, and even through role-playing exercises. Step 5: Evaluation Training Program One way to make sure that the training program is accomplishing its goals is by using an evaluation of the training by both the students and the instructors Training should have, as one ofits critical components, a method of measuring the effectiveness of the training, Evaluations will help employers or supervisors determine the amount of learning achieved and whether or not an employee's performance has improved on the job as a result. . Describe the Functions of a Human Resource Manager The role of HRM is to plan, develop and administer policies and programs designed to make optimum use of an organizations human resources. It is that part of management which is concerned with the people at work and with their relationship within enterprises. Current Classification of HR roles: According to R.L Mathis and J. H. Jackson (2010) several roles can be fulfilled by HR management. The nature and extent of these roles depend on both what upper management wants HR management to do and what competencies the HR staff have demonstrated. Three roles are typically identified for HR. + Administrative + Operational Action * Strategic HR 1. Administrative Role of HR: The administrative role of HR management has been heavily oriented to administration and recordkeeping including essential legal paperwork and policy implementation. Major changes have happened in the administrative role of HR during the recent years. Two major shifts driving the transformation of the administrative role are: Greater use of technology and Outsourcing. Technology has been widely used to improve the administrative efficiency of HR and the responsiveness of HR to employees and managers. Moreover; HR functions are becoming available electronically or are being done on the Internet using Web-based technology. Technology is being used in most HR activities, from employment applications and employee benefits enrolments to e-leaming using Internet-based resources. Increasingly, many HR administrative functions are being outsourced to vendors. This outsourcing of HR administrative activities has grown dramatically in HR areas such as employee assistance (counselling), retirement planning, benefits administration, payroll services and outplacement services. 2. Operational and Employee Advocate Role for HR: HR managers manage most HR activities in line with the strategies and operations that have been identified by management and serves as employee “champion” for employee issues and concerns. HR often has been viewed as the “employee advocate” in organizations. They act as the voice for employee concerns, and spend considerable time on HR “crisis management,” dealing with employee problems that are both work-related and non-work-related. Employee advocacy helps to ensure fair and equitable treatment for employees regardless of personal background or circumstances, Sometimes the HR’s advocate role may create conflict with operating managers. However, without the HR advocate role, employers could face even more lawsuits and regulatory complaints than they do now. The operational role requires HR professionals to co-operate with various departmental and operating managers and supervisors in order to identify and implement needed programs and policies in the organization. Operational activities are tactical in nature. Compliance with equal employment opportunity and other laws are ensured, employment applications are processed, current openings are filled through interviews, supervisors are trained, safety problems are resolved and wage and benefit questions are answered. For carrying out these activities HR manager matches HR activities with the strategies of the organization. 3. Strategic Role for HR: The administrative role traditionally has been the dominant role for HR. A broader transformation in HR is needed so that significantly less HR time and fewer HR staffs are used just for clerical work. Differences between the operational and strategic roles exist in a number of HR areas. The strategic HR role means that HR professionals are proactive in addressing business realities and focusing on future business needs, such as strategic planning, compensation strategies, the performance of HR and measuring its results. However, in some organizations, HR often does not play a key role in formulating the strategies for the organization as a whole; instead it merely carries them out through HR activities. Many executives, managers, and HR professionals are increasingly seeing the need for HR management to become a greater strategic contributor to the business success of organizations. HR should be responsible for knowing what the true cost of human capital is for an employer. For example, it may cost two times key employees’ annual salaries to replace them if they leave. Turnover can be controlled though HR activities, and if it is successful in saving the company money with good retention and talent management strategies, those may be important contributions to the bottom line of organizational performance. The role of HR as a strategic business partner is often described as “having a seat at the table,” and contributing to the strategic directions and success of the organization. That means HR is involved in devising strategy in addition of implementing strategy. Part of HR’s contribution is to have financial expertise and to produce financial results, not just to boost employee morale or administrative efficiencies. Therefore, a significant concern for chief financial officers (CFOs) is whether HR executives are equipped to help them to plan and meet financial requirements. 18 ‘The role of HR shifted from a facilitator to a functional peer with competencies in other functions and is acknowledged as an equal partner by others. The HR is motivated to contribute to organizational objectives of profitability and customer satisfaction and is seen as. a vehicle for realization of quality development. The department has a responsibility for monitoring employee satisfaction, since it is seen as substitute to customer satisfaction, According to McKinsey’s 7-S framework model HR plays the role of a catalyst for the organization. According to this framework, effective organizational change is a complex relationship between seven S’s. HRM is a total matching process between the three Hard S (Strategy, Structure and Systems) and the four Soft S (Style, Staff, Skills and Super-ordinate Goals). Clearly, all the S's have to complement each other and have to be aligned towards a single corporate vision for the organization to be effective. It has to be realized that most of the S's are determined directly or indirectly by the way Human Resources are managed and therefore, HRM must be a part of the total business strategy. 'g. What is the concept of Recruitment? Explain process of recruitment In human resource management, “recruitment” is the process of finding and hiring the best and most qualified candidate for a job opening, in a timely and cost-effective manner. It can also be defined as the “process of searching for prospective employees and stimulating and encouraging them to apply for jobs in an organization’, It is one whole process, with a full life cycle, that begins with identification of the needs of the company with respect to the job, and ends with the introduction of the employee to the organization. When we speak of the recruitment process, we immediately think of activities such as the analysis of the requirements of a specific job, attracting candidates to apply for that job, screening the applicants and selecting among them, hiring the chosen candidates to become new employees of the organization, and integrating them into the structure. Obviously, the main reason why the recruitment process is implemented is to find the persons who are best qualified for the positions within the company, and who will help them towards attaining organizational goals. But there are other reasons why a recruitment process is important The five steps involved in recruitment process are as follows: (i) Recruitment Planning (ii) Strategy Development (iii) Searching (iv) Screening (v) Evaluation and Control. 1, Recruitment Planning: jlanning involves to draft a The first step involved in the recruitment process is planning. Here, pl a comprehensive job specification for the vacant position, outlining its major and minor responsibili- ties; the skills, experience and qualifications needed; grade and level of pay; starting date; whether temporary or permanent; and mention of special conditions, if any, attached to the job to be filled” 2. Strategy Development: Once it is known how many with what qualifications of candidates are required, the next step involved in this regard is to devise a suitable strategy for recruiting the candidates in the organisation. The strategic considerations to be considered may include issues like whether to prepare the required candidates themselves or hire it from outside, what type of recruitment method to be used, what geographical area be considered for searching the candidates, which source of recruitment to be practiced, and what sequence of activities to be followed in recruiting candidates in the organisation. Searching: This step involves attracting job seekers to the organisation. There are broadly two sources used to attract candidates. These are: 1. Internal Sources, and 2. External Sources 4. Screening: Though some view screening as the starting point of selection, we have considered it as an integral part of recruitment. The reason being the selection process starts only after the applications have been screened and shortlisted. Let it be exemplified with an example. In the Universities, applications are invited for filling the post of Professors. Applications received in response to invitation, i.e., advertisement are screened and shortlisted on the basis of eligibility and suitability. Then, only the screened applicants are invited for seminar presentation and personal interview. The selection process starts from here, i.e., seminar presentation or interview. Job specification is invaluable in screening. Applications are screened against the qualification, knowledge, skills, abilities, interest and experience mentioned in the job specification. Those who do not qualify are straightway eliminated from the selection process. The techniques used for screening candidates vary depending on the source of supply and method used for recruiting. Preliminary applications, de-selection tests and screening interviews are common techniques used for screening the candidates. {i) Cost of time spent for prey (ii) Administrative expenses (iv) Cost of outsourcing or overtime whil iew of abor in view ofa bove, ile necessary for a prudent employer to try to answer certain questions like: followed in the organisation ie chen oepropriate and valid? And whether the masta process, eanisation is effective at all or not? In case the answers to these questions are in negative, the appropriate control Foca Measures need to be evolved and exercised to tide over the substantially. The use of a marketing mix is an excellent Way to help ensure that ‘putting the right product in the right place’ will happen. The marketing mix is a crucial tool ts help understand what the product commonly acctter and how to plan for a successful product offering. The marketing mix 's most commonly executed through the 4 P's of marketing: Price, Product, Promotion, and Place. Marketing Myth List 1. Marketing Is Synonymous with Advertising: Marketing and advertising are not the seme thing at all. Advertising refers to a specific promotional activity, while marketing encompasses product development, pricing, customer and market understanding, and promotion. If you talk about your ‘marketing’ in a magazine, you're mixing up marketing with advertising, 2. Word of Mouth Marketing Is Sufficient: Many people believe that if they provide a great Product or service, word of mouth alone is sufficient marketing. It's not. In today's day and age, you need outbound communicates to generate awareness, 3. The Crazier the Promotion, the Better: Talking lizards and dancing raisins aside, crazy Promotions and cute mascots do not equate good marketing. Crazy promotions may generate attention but it's the rare campaign that garners lasting results. 4. Sexy Sells: Sexy sells - to a point. But sexy is not always the desirable atmosphere for a Product. Sexy might work to sell lingerie. It probably won't work for foot odor pads, computers, or carpet. 5. Sales People Don't Know Anything about Marketing: Sales people are usually the ones in the company who actually get to talk to customers, And customers are at the heart of marketing, because understanding customer wants, needs and desires is essential to good marketing. So before you dream up your next marketing plan, talk to your sales team, They have valuable input you ignore at your own peril ©. If Customers Don't Respond, Try Something Else: Remember that all marketing myths contain a kernel of truth. This one in particular is tricky because it's partially true. While it's truth that if you've tried promoting a product or service to one group of customers and they don't respond that you may need to try something else, it's also true that successful sales often require multiple contacts. Five years ago, the rule of thumb was that at least three contacts needed to be made before closing a sale; two years ago that number had risen to five, and this year, many marketing agency executives say that number has risen to seven or more. The nonstop blare of advertising on the internet, television, radio, magazines, checkout lines at the Supermarket, and everywhere consumers turn has resulted in consumers tuning out most of what they hear. It's also resulted in greater scepticism from consumers, which in turn means that marketers must work harder and longer to garner trust and close a sale. So yes, if customers aren't responding to a promotion, you may need to try something else, or you may simply need to hang in there and keep stating your message until they respond, /yere's One Right Way: It's like magic. There's got to be one right way to do marketing fo jdustry, a company or a product. Successful marketing and promotional activities reflect the itiergence of many factors: customer understanding, timing, marketplace forces, high quality product, and excellent creative efforts. But over time, customer wants needs and desires thange. The marketplace changes and new competitors enter the scene. What worked last year jnay not work today. There's never just one right way to handle marketing. , Good Advertising Can Make People Buy Anything: Clever advertising generates interest, but if the product is poorly made and doesn't live up to the advertising promises, the best ads in the world won't convince people to purchase it. Nobody Responds to Direct Mail Anymore: While it's true that more and more people are turning to the Internet to shop, direct mail remains a viable means of acquiring customers. The only way you'll know for sure whether or not it's a good marketing tactic for your company is to test it, 10.Pricing Is Not Part of Marketing: Pricing should be an essential part of any marketing strategy. Whether pricing products to remain competitive or pricing products to generate an aura of exclusivity, pricing decisions play an important role in how products are bought, sold and promoted. 5. What is marketing management? Describe briefly the Marketing Framework ning & implementing the conception, pricing, It is a target-oriented process and an operational organizational discipline, which and methodologies in companies ies. The Marketing management is the process of plani promotion and distribution of products or services. area of management. Marketing management is basically an focuses on the practical usage of marketing orientation, techniques and organizations and on the management of a firm's marketing resources and activit following are the main objectives of marketing management! «To satisfy the clients’ requirements and their objectives. «To leverage the gain for the growth of business. + To develop customer base for the business. * To create an appropriate marketing mix. * To raise the quality of life of people. «To build a good image of the organization. maintain the long-run concept. Marketing Framework ‘The basic elements of a marketing strategy consist of (1) the target market, and (2) the marketing ix variables of product, price, place and promotion that combine to satisfy the needs of the target market. The outer circle in Figure 1.1.1 lists " . environ is within which markets tietogon 6 ironmental characteristics that provide the framework M . Marketing activities focus on the consumer. Therefore, a market-driven organization begins its tre aan rategy with a detailed description ofits target market: the group of people toward whom their eamaides to direct its marketing efforts. After marketers select a target market, they direct thelr activities towards pro itably satisfying that target segment. Although they must manipulate product saples to reach this goal, marketing decision making can be divided into four areas: rhea es place, (distribution) and promotion (marketing communication). These 4 Ps of a apeclie career nerTed to.a8 the marketing mix. The 4 Ps blend to fit the needs and preferences of con binsenarget market. These are the four variables that a marketer can use and control in differen ate value for customers. Figure 1.1.1 illustrates the focus of the marketing mix Nousone lables on the central choice of consumer or organizational target markets. In addition, decisions ‘bout the 4 Ps are affected by the environmental factors in the outer circle of that figure, Unlike the controllable marketing mix elements, the environmental variables frequently lie outside the snare of marketers. The product strategy involves deciding what goods and services the firm should offer to @ group of consumers and also making decisions about customer service, brand name, packaging, labeling, Product life cycles and new product development. The pricing strategy deals with the methods of Sctting profitable and justifiable prices. Marketers develop place (distribution) strategy to ensure {nat consumers find their products available in the proper quantities at the right times and places Place-related decisions involve the distribution functions and marketing intermediaries (channel Members). In the promotional strategy, marketers blend together the various elements of promotion eommunicate most effectively with their target market. Many firms use an approach called Integrate Marketing Communications (IMC) to coordinate all promotional activities so that the sbanume? receives a unified, consistent and effective message. Marketers do not make decisions about target markets and marketing mix variables in a vacuum. They must take into account the dynamic nature of the five marketing environmental dimensions as shown in Figure 1.1.1 - competitive, political legal, economic, technological and social-cultural dimensions. Marketers spiabete for the same consumers. So the developments in the competitive environment will have lot of repercussions. The political-legal environment includes the governing and regulatory bodies who impose guidelines to the marketers. Adherence to the law of the land is an imperative for a marketer to be a good and responsible corporate citizen. The economic environment dictates the mood in the target market who take decisions such as to buy or save, to buy now or later. The technological environment can spell life or death for a marketer with break-through technologies. Marketers often leap forward or get left behind owing to the changes in the technological environment. The social- cultural environment offers cues for the marketers to ‘connect’ well with the target market. Failure on part of the marketer to understand the social-cultural environment will have serious consequences. A marketer cannot afford to rub a society /culture on the wrong side 6. Of the seven tasks an HR manager does, which do you think is the most challenging? Why? Following are the common human resource functions, any typical retail organization will be having: Job analysis and job design Recruitment and selection of employees . Employees’ training and development . Performance management - Compensation and benefits . Employee retention . Managerial relations In the current scenario, a major challenge for an organization is to retain its valuable and talented employees. The management can control the problem of employees quitting the organization within no time to a great extent but can’t put a complete full stop to it. There are several challenges to it. Let us understand the challenges to employee retention: * Monetary dissatisfaction is one of the major reasons for an employee to look for a change. Every organization has a salary budget for every employee which can be raised to some extent but not beyond a certain limit. Retention becomes a problem when an employee quotes an exceptionally high figure beyond the budget of the organization and is just not willing to compromise. The organization needs to take care of the interests of the other employees as well and can't afford to make them angry. The salaries of the individuals working at the same level should be more or less similar to avoid major disputes amongst employees. A high potential employee is alwa: not take any undue advantage, and quote something which mat not be adamant on a Particular retain him. Remember there is a ys the center of attention at every workplace but one should One should understand the limitation of the management itches the budget of the organization. An individual should figure, otherwise it becomes difficult for the organization to toom for negotiation everywhere. current scenario, where there is no dearth of o; rtuniti people in (he ra change is @ big challenge. Every organization res its level et hie lov a reek fhe competitors and thus provide lucrative opportunities te att smplovers pecome greedy for money and position and thus look forward to changing the present job and oin the competitors, No amount of counseling helps in such cases and retaining erst becomes a nightmare : ae Individuals speak all kind of lies during interviews to ge proficient in branding but would simply say a yes to impress the recruiter and grab the job. It is only later do people realize that there has been a mismatch and thus look for a change. Problems arise whenever a right person is into a wrong profile. An individual loses interest in work whenever he does something out of compulsion. The human resource department should be very careful while recruiting new employees. It is really important to get the reference check done for better reliability and avoid confusions later. Some individuals have a tendency to get bored in a short span of time. They might find a job really interesting in the beginning but soon find it monotonous and look for a change The management finds it difficult to convince the employees in such cases. @ job. They might not be Individuals must also understand that every organization has some or the other problem and adjustment is required everywhere, s0 why not in the present organization? It becomes really difficult for the HR Department to find out what exactly is going on in the minds of the individual. An individual should voice his opinions clearly to make things easier for the management. Unrealistic expectations from the job also lead to employees looking for a suange: Tiers is actually no solution to unrealistic expectations. An individual must be mature enough fo understand that one can’t get all the comforts at the workplace just like his hom peat from different backgrounds come together in an organization and minor misun might arise but one should not make an issue out of it.

You might also like