Global Scale When Managing Human Capital Business Essay - Free Essay Example

Sample details Pages: 8 Words: 2310 Downloads: 3 Date added: 2017/06/26 Category Management Essay Type Narrative essay Did you like this example? The organizations have been divided in to two main categories as IMPORTS and EXPORTS. The Company receives about 6547 containers per year from its partner offices around the world and exports around 4276 containers to various ports around the world. The company operations departments which comprise warehouse, container transport service and port operations are twenty four hour services and the staff for those departments work on the shift basis. Don’t waste time! Our writers will create an original "Global Scale When Managing Human Capital Business Essay" essay for you Create order The department wise staff beak down is as follows Generally one thinks of HR relations largely between management and employees. A more strategic view to this, organization must align what they do with in the business to the customers .the growth of the organization depend on the customers. Business must attract customers and retain these customers for the business development. (More the purchases by customers the profitability of the business grows). To do that employee of the organization must do a very good work to identify the customers demand and requirements and must serve according to those requirements.it is up to the general management of the organizations to identify and align the human initiatives for market driven culture. Developing An Entrepreneurial Culture The current economic down turn in the world affecting all the business on the world. Many businesses have downsized reducing the staff for an optimal level that would never be updated to original levels .the challenge for the organisations is to create a sustainable employment for a longer period of time. Developing an entrepreneurial culture is going to be a huge labour market challenge for the managers. Managing The Change Change is part of corporate culture since we are in the world nothing is constant as change. The change mainly derived from political, economic, technological, environmental, legislative and general market trends and competition among the industries. It is important that organizations manage these changes in such a way that employees can accept the change and adapt to the change fast. Finding the ways to manage these changes within the organization and finding right formula for success is going to be a key challenge for the general managers concern. Appointing And Retaining Key Talent At All Levels Organizations operating in current business environment need to build talent at all levels of the business. Having talented employees at all levels can make a huge difference to the performance of the organization and source of competitive advantage in the market place for the organization.in todays context organizations have to work hard to find talented employees since there is a short supply of talent in the market place. To retain those talented people companies must create good compensations schemes, good corporate culture within the organizations. Impacts Of The Globalization With rapid expansion of business to the global stage the mangers of these organizations are struggling to balance act locally think globally process. Globalization requires that organizations increase their ability to learn and collaborate and to manage diversity, complexity. With globalization the competition levels has been increased and to complete in the global market organizations must manage their cost to the minimum levels. To reduce the cost business must manage with 100% efficiency levels. Finding the ways to successful implementations HCM strategic planning will be a key challenge for the general management of these organizations. KEY ISSUES AND CHALENGERS FACE BY THE MANAGERS IN SRI LANKA WHEN MANAGEING HUMAN CAPITAL Recognition of Human Recourse Management One of the key challengers face by the local companies it is to recognise the importance of the Strategic Human Recourse Management. Most organisations in the country the human resource factor does not appreciated and its functions are not clearly defined within the business. Most companies dont see the need of the human resources manager when the relevant job function is most of the time assigned to the General Manager. Work Ethics of The Employees The employee for coming from a different background, different educational levels and each individual has its own prospective about the work. Employees are influenced by those judgement and they dont judge people by their work expertise and skills. Most of them wonder about the job functions and do not want to full fill their requested duties by the business. Government Sector Employment is most preferred Destination by job seekers In the Sri Lankan job market the most preferred employer is government sector employment. This is due to fewer responsibilities, more leave days than the private sector employees, retirement benefits when time of retirement and few working hours compared to private and multinational businesses in the country .most of the graduates and professionally qualified employees is willing to cross over to the government sector from the private sector and people with relevant skills also prefer the government first when they seek for a job. Trade union actions One of the main challenges facing the local management is managing the trade unions. The trade unions can be very ruthless when it comes to the negotiations. If a negotiation fails they will go for a strike which will halt business activities of the organisation. And this will affect the human resource practice of the organisation since it HR supposed to provide good working and conducive environment for employees to work. Changing Economic Environment The economic down tern in Europe and America and fluctuating forging exchange rates and capital inadequacy is major concern for the local business. So the indivual businesses have to adjust their future planning according to the economic environment. This will lead to the retrenchment and downsizing the workforce. So the managers have to decide which employees should retain and which employees to let go and what will be the retrenchment plan. KEY ISSUES AND CHALENGERS FACE BY CWT GLOBELINK COLOMBO WHEN MANAGING HUMAN CAPITAL No Strategic Human Capital Management plan The company in concern does not have strategic Human resource plan. Even though company does have general business strategic plan the human resource part leaf out from the strategic plan. Even though company has a human resource department it is lack the leadership since there is no manager to lead the specific department and the functions are under the GM Finance and Administration of the company. The HR part is considered as an administrative work within the organisation this has led to the exclusion of the strategic human resource out of the general strategic plan. Limited Resource for Training The company provide only few training workshop for the year and the budgeted allocation are very limited for these training programs. So the challenge for the mangers is to allocate these funds accordingly and select right training programs and right kind of employees for the selected program. Managing the diverse work force The company is currently has for work force of 83 people and has round 35 basic skilled workers and around 48 employees who work as clerks, executives, assistant managers and senior managers level. And all of these employees are from various ethnic groups and various religions. The main task managers face is managing the basic skilled workers since their educational level are low and they only could perform one specific duty and rotating them according to the requirement of the organisation is a huge challenge. Managing cultural diversity among the employees also a challenge for the managers. Retaining the key talent The company does not have policy to retain the key talent within the organisation and groom them to specific organisation goal .so the most of the talented people after a sometime leave for a competitor or another organisation .so the challenge for the company is to build the system to retain key talent with in the business, groom them for the future success of the organisation. Out Dated Human Resource Management System The company does use a Human Resource Management system but the system is out dated and does not support the HRM decision making process and HR department has to perform specific duties by manually. The key challenge for the business is to replace the old system with new system which will help good decision making within the organisation. THE EMPLOYEE AGENDA IN THE ABC COMPANY Career Progression The employees of the company need to have an individual growth. The employees see their carrier stagnated in a one place for a period of time and do the same sort of work for few years so they do not feel any challenge in their current work. They want to upgrade themselves through training or taking more responsibilities. Therefore HR department need to have a system to address this problem. Recognition and Appreciation The employees want to feel that their contributions to the company growth are appreciated and rewarded for those contributions. The recognition always does not have to be monitory or costly a genuine prising or complement from the senior management can carry a lot of significance to the employee. Good Corporate Culture The employees spend large time at work and most of them want strong and positive corporate culture .the responsibility of the senior management of the organisation is shaping and determining the companys culture, the values, beliefs and vision of the organisation will have to trickle down to the employees. Clear Definition Of Job Description And Job Profiles in the business The current Job description and job profiling is part of the old HRM system .this does not suitable for the current business environment and employees prefer that HRM department prepare new set of job description and job profile so employees able to work accordingly. Work Life Balance The employees want HR department to have a proper planning when come to the working hours, stress related job functions and need to lay out the plan for leaves and stress relieving activities and balance work and the life separately. THE HR DEPARTMENT AGENDA IN ABC COMPANY Implementation Of Company Objectives The main agenda for the HR department is to implement organisations objectives. They should able to support the achieving organisational goals (profitability, business ethics, creating principals, enhancing the business reputation) Employee Engagement The HR department should able to engage employees committed to their work broth intellectually and mentally so they ale to accomplish the company goals for the success. Maintaining Good and Harmonious Working Environment All employees are treated with dignity and respect, no worker harassment for belief of the worker, any race and gender or sexual orientation among the workers to create good and harmonious working environment. Compliance with Local Labour and other work related lows One of the agenda of the HR department is compliance with local labour laws .this includes labour department rules, statutory payments (employee provident fund, employee trust fund, payee schemes) and other local government rules for working conditions, working hours and leave procedure rules for the industry. Attracting Talent to the company ,Maintaining Sufficient Work Force To Perform The Organisational Duties It is important that HR department has plan to attract talent to the company since more you have good talent with in company workforce the company can achieve its goals easily. Also they should able to plan for the sufficient work force to run the companys day to day transactions and future workforce requirements. THE GAPS BITWEEN EMPOLYEE AGENDA AND HR DEPARTMENT AGENDA Lack Of Support From Top Management The top management view of the HR functions of the organisations is another administrative work .this creates a gap between what HR should be doing to align the company goals to its strategic planning. The top management must always think that HRM is vital part of its strategic planning. Lack of Focus On Individual Objectives To Organisations Objectives The individual employees has their own personal objectives (ie salary increments, more bonuses, less working hours) but as an organisation it has its own objective (profit maximisation, increasing shareholder value) there will be always a gap between these two objectives . Lack Of Attention For Employee Desired Benefits The organisation understands that employees should be rewarded with necessary benefits. But when it comes to the delivering those benefits organisation lacks the consistency, delivery on time .this will create a gap whats employees required and what employer delivers . Lack Of Attention To Replace Old HR System Replacing the old HR system is the most important thing to the organisations. Since the reports and other management reports are generated will create a gap between what organisation really do and what need to be done. RECOMMENDATION TO FILL THE IDENTYFIED GAP KEY ISSUES AND CHALENGERS RELATING TO TRAINNING AND DEVELOPMENT IN ABC COMPANY The Training Programs Does Not Link Strategic Goals Of The Company The organisation does provide only basic type of training programs. Providing these programs the company expect employees to perform only the required job functions only. These programs do not enhance the strategic thinking of the employee. No Proper Orientation Process When organisation recruit a new employee the HR department does about 10 minutes introduction about the company and what is expected from the employee only. Strait after that introduction new employee is sent to the relevant department to start the specific work assigned. The new employees must get the details relating to the working hours, the daily routine, the safety measures and regulations etc from some experience employee working in the department. Limited Allocations For The Training Programs The company runs very few training programs for the year and handful of employees are selected for those programs due to limited fund allocation for the training. No Proper Evaluation Process After a training and development program there is no proper evaluation from the management or HR department weather these program will enhance the employees abilities and capabilities when preforming their duties. Proper Process of Identifying Employees Training and Development Requirements Company must create a system to identify specific job performance skills needed, assesses the prospective employees or trainees skills and develop specific measurable performance objective process. Creating such a process will enable to organisation to clearly identify the organisations training and development requirements.