MGT521 People Practice And Decision Making

Assignment 1: HR Policies For Family Owned Startup Of Medical Devices

Submitted To: Miti Randeri

Submitted By: Dhavan Kadecha

Enrollment NO AU2314082
HR Policies for family-owned startup of medical equipment .

What thrives a successful business- there are many things which affects the business and its
success like

- Visionary Leadership

- Customer-Centric Approach

- Innovation and Adaptability

- Quality Products/Services

- Strong Financial Management

By aligning HR policies with these key drivers of business success, organizations can create a
cohesive and supportive environment that helps them thrive and meet their strategic objectives.
HR polices of companies like Google, Walmart & Tata can play a crucial role in shaping a
business lie talent acquisition, learning & development, innovation, work-life balance.

Google:

1. Strategic Hiring and Talent Acquisition Policy: this policy helps to attract and hire top tier
talent which is essential for any startup as skilled and qualified employees are lifeline of the
business.

2. Innovation and Creativity Policy: people should be provided with various opportunities to try
and experiment something new along with the traditional approach to gain some competitive
edge in this rapidly changing era of technology.

3. Learning and Development Policy: employees should be provided with various opportunities
to upskill themselves and them with the pace at which markets and technology. Providing on the
job training along with the mentorship and basic formal training.
Walmart:

1. Competitive Compensation and Benefits Policy: Attracting and retaining talent in a

competitive market is essential. Offering competitive compensation and benefits packages will
help you secure experienced professionals in the medical equipment field.

2. Work-Life Balance and Productivity Policy: flex working hours and work life balance is
crucial for employees especially after covid 19. It helps to keep employees motivated and
focused in their work supports their well-being.

3. Career Development and Advancement Policy: every employee likes to work in the company
whose mission and vision are clear and where employee can see their career growing as it helps
to retain employee reduce attrition.

Tata:

1. Employee Development Policy: As your business grows, investing in the development of your
employees will ensure they have the skills and knowledge needed to meet the demands of
expansion.

2. Innovation and Creativity Policy: Fostering a culture of innovation and recognizing innovative
contributions can help your startup stay competitive and adaptable in the medical equipment
industry.

3. Diversity and Inclusion Policy: Creating a diverse and inclusive workplace is important for
attracting top talent and fostering a respectful and innovative work environment.