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(PDF) The growing role of advanced human resource

   

Added on  2021-04-21

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Running head: ADVANCE HUMAN RESOURCE PERSPECTIVESAdvance Human Resource PerspectivesName of the Student:Name of the University:Author’s Note:

1ADVANCE HUMAN RESOURCE PERSPECTIVESExecutive SummaryThis report intends to shed light on the various aspects of the effective management of thepresent day business organizations or companies. The report intends to study the variousaspects of management through the Singaporean company Johor Insurance and CUAP. Thereport will also provide an overview of the various concepts like workforce planning,strategic remuneration model and costing along with the concept of equity payment. Thereport will also provide an analysis of strategic rewards and incentives and will argue whetherthe company Johor Insurance should stay with the TAFEP and NWC. Finally the report willconclude with an analysis of the HR system.

2ADVANCE HUMAN RESOURCE PERSPECTIVESTable of ContentsIntroduction................................................................................................................................3Workforce planning – upsizing, downsizing, reallocation.........................................................3Strategic remuneration models and costing...............................................................................4Equity between men and women...............................................................................................5Strategic rewards and incentives................................................................................................5TAFEP and NWC......................................................................................................................6HR evaluation.............................................................................................................................7Conclusion..................................................................................................................................8References..................................................................................................................................9

3ADVANCE HUMAN RESOURCE PERSPECTIVESIntroductionThe advent of globalization has revolutionized the way the various companies as wellas the business organizations conduct their overall business (Wright 2016). Therefore, in themodern context strategy and effective planning form an important part of the overall businessprogram. It is commonly seen that the various companies as well as the businessorganizations develop their strategies and overall business plan taking into consideration theneeds and the requirements of the business and also the customers. It is seen that with thisparticular view in mind the various companies as well as the business organizations spendconsiderable amount of time and resources on workforce planning, “strategic remunerationmodels and costing”, “strategic rewards and incentives”, “industrial relations strategies andpractices” and HR evaluation (Daley 2012, pp.120-125). This report will take intoconsideration these aspects of the company Johor Insurance and its partner company CUAP.It is to be noted that the company Johor Insurance was at one point of time one of the largestinsurance companies of Singapore however with the advent of the latest technologies and therise of other competitors the company has lost much of its market value and is now on thepoint of bankruptcy. A new lease of life was infused in the company with the creation of aseparate branch of organization which is called by the name of CUAP.Workforce planning – upsizing, downsizing, reallocationIt is to be noted that in view of the diminishing business of the Johor Insurance the“workforce planning – upsizing, downsizing, reallocation” has become an important aspect ofthe entire business plan of the insurance company (Williams 2013). Therefore, the companyshould try to focus on the effective utilization of the workforce at their disposal. It isnormally seen that there are several sections in the company were the work required of theemployees is very less and the employees therefore just while away their time. The company

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