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Business Issue in Context of HR INTRODUCTION

   

Added on  2020-06-05

14 Pages4667 Words453 Views
Leadership ManagementProfessional Development
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Business issue in context of HR
Business Issue in Context of HR INTRODUCTION_1

Table of ContentsINTRODUCTION...........................................................................................................................11. Key factor affecting organisation and its impact on HR function......................................12. Way to develop organisational and HR strategies .............................................................23. The force shaping HR agenda............................................................................................24. Different tools for analysing business environment...........................................................32. Key stages in strategy formulation plus implementation and role of HR .........................55. HR contribution to business ethics and accountability. .....................................................67. Way to identify and respond to the changes in business environment ..............................78.Evaluation of business performance and role of HR in business planning and changemanagement agenda...............................................................................................................89. Different source of business and contextual data for planning process. ...........................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
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INTRODUCTIONHuman Resource Management (HRM) is the pillar of strength of an organisation onwhich the firm relies for smoother running. Human resource is responsible to carry out variousroles in the firm and contribute a lot in the success of the firm. In current report, KazMunaygashas been taken into consideration. Gone was the time when Kazakhstan was considered as minoroil exporter as in current time, the country has become a significant player in the world. Thecountry is continuously growing and has come very far; it has been recorded that there has beenconstant 15% of growth every year from the year 1999, in 2015 the firm has produced around 1million bbl/d. KazMunaygas is national operator for production, exploration, refining andtransportation of oil and petroleum product in nation and world.. HR of the firm is responsiblefor the great success of the firm. In current report, we will discuss the various issues that arefaced by HR of the cited firm and how this factor affects the working of HR. It will focus onboth internal and external factors along with this, it will also explain the way HR handle thesituation and contribute in the success of the firm. 1. Key factor affecting organisation and its impact on HR function.There are various factors that can have its impact on the organisation and working of HRsome of which are mentioned below:Government regulation: According to new workplace compliance standard, the HRdepartment of KazMunaygasKazakhstan Inc is responsible to stay connected with thelaw. These types of law have big impact on the working of the firm and have biginfluence on every process of HR such as hiring, training, compensation etc. If the firmdo not adhere to this law, it can lead to legal hassle (Sagar, 2014). Economic condition: The shape of nation economy also have its impact on the firm. Itcan affect the entity’s capability of hiring new employees and can also have its impact ontalent pool. HRM management is required to monitor this factor so that they can come upwith the strategy that can help firm at the time of economic downturn.Technological advancement: Technology have major impact on the working of the firmas by the implementation of new technology, efficiency and effectiveness can be boughtin the firm. In this, HR is responsible to arrange training to the employees so that they1
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can become aware of its working. He is also responsible to find different ways throughwhich money can be saved.Employee relation: Internal policies, regulation and procedure have its impact on the HRactivities. Good employee relation helps the firm in its growth and success, it is the job ofHR to make sure that the workers of KazMunaygasKazakhstan Inc are satisfied with thefirm and performing their best. In order to maintain good relation, its necessary of thecorporate to have great communication with their staff (Budhwar, Varma and Patel,2016). HR is responsible for the communication among management and workers. 2. Way to develop organisational and HR strategies There are many way through which hr Strategy can be develop. A tactical HR focus onthe proper administration of employee and any issue related to them but in order to develop themas strategic HR they are required to focus achieving not only HR goals but also business goalsand objectives. In order to be effective they align the reward and compensation strategy aroundthe business goal to make sure that employee can perform their best (Palacios-Marqués, Soto-Acosta and Merigó, 2015). It also makes sure to make constant changes in HR processes so thatstaff can be more innovative and creative. They also make sure that the training program they aredesigning ensure the development of whole corporate. 3. The force shaping HR agendaThere are many forces that play major role in shaping the HR agenda such ascompetition, market, changing industry, economic trends etc. In order to meet the changing needand demand of environment the HR is required to make some changes in their working andadopt strategic HR agenda in their working (Laudon and Laudon, 2016). As we have discussedbefore its necessary of the HRM to align their strategies with the objectives and goals of the firmso that the best results can be obtained. The main function of HR is to manage the human resource of the firm. In current timewhere competition is ta the peak and there are many competitors, it's the skilled and diverseworkforce that make you different from the rival firm and also provide with competitiveadvantage. By hiring more skilled and talented labour, KazMunaygas can provide better serviceto their customer. By making sure that right number of talented people are available in the firm ithelps it in acquiring desired result (Marchington and et. al., 2016). It also helps in creating2
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