Importance of HRM Program for Woolworths

This report highlights the importance of HRM program for Woolworths and how it addresses HRM issues. It discusses the program to be introduced, the nature and scope of the program, and the financial implications and risks associated with it.

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and providing a workplace solution based on
HRM frameworks and models relevant to the
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Contents
INTRODUCTION...........................................................................................................................4
Importance, future and the issues handled by HRM program.....................................................4
Program to be introduced.............................................................................................................4
Nature and scope of the program.................................................................................................5
Why the program should be introduced and what HRM issues is it addressing.........................5
financial implications of the program..........................................................................................7
Risk associated with the program................................................................................................7
SUMMARY.....................................................................................................................................8
RECOMMENDATIONS.................................................................................................................9
REFERENCES..............................................................................................................................10

Covered in PPT
INTRODUCTION
Human Resource Management is the term used to describe formal systems devised for the
management of people within an organization. The responsibilities of a human resource manager
fall into three major areas: staffing, employee compensation and benefits, and defining/designing
work. Woolworths is a British multinational groceries and general merchandise retailer with
headquarters in Welwyn Garden City, Hertfordshire, England, United Kingdom. It is the third-
largest retailer in the world measured by gross revenues and the ninth-largest retailer in the world
measured by revenues. This report contains topics such as future of HRM program and the issues
handled by it. Program to be introduced by the company and nature and scope of the program.
Why is it necessary to implement the program and the benefits of it. Financial implications of the
program and the risk associated with it.
Importance, future and the issues handled by HRM program
The HRM program enabled by Woolworths addresses the area of capital management and talent
development so that company can invest in areas which are secure and their employees can be
prepared for the uncertainties in the market.
Future of HR involves many aspects such as
Collaboration between human and the digital
The sector of HRM is expected to reach around $ 30 billion by 2025. Due to
advancement and development in the sector of information technology the traditional values and
methods is getting easier for the HR of the company. In the next few years the focus of this
sector is to be on the analytics of prediction, enhanced process of automation and the aspect of
artificial intelligence. It is necessary that Woolworths employs only those people who are highly
skilled as it is necessary because of the future advancements and the role that technology will
play in the sector. This will help the company to be able to comply with the technological factors
upgraded in future.

Program to be introduced
The program that is introduced by Woolworths will be Human capital development
which helps to improve the performance of employees, enhances their capabilities and help them
to use the resources in an optimized manner. It is necessary aspect for Woolworths if they want
to achieve growth and improve the productivity of the company. It is necessary that company
invests more in people as they are the ones who help to manage the operations efficiently. Apart
from it there is another aspect in the HRM program of Woolworths that is Talent development as
it will help the employees of the company by motivating them, enhancing their strength and
assess that if or not their performance are consistent. If the company is able to successfully
develop their talent then they will be deliver in a better way with expected results
Nature and scope of the program
The nature and scope of human capital development is considered as large in some sub
systems because it involves many aspects under it such as appraisal of employees, training and
development, counseling, welfare and rewards, quality of work etc. On the other hand talent
development has the scope of handling the employees which begins from attracting them to join
the company to develop their skills, motivate them take them on board with the projects of the
company and retain them for a long period of time in order to reduce the rate of turnover. There
is a goal behind this aspect which will help Woolworths and that is to improve their performance
through training and effective practices and make the organization sustainable so that they can
meet the goals that are strategic and operational for the company.
Why the program should be introduced and what HRM issues is it addressing
This program of HRM which is introduced by the company is necessary as it is
addressing many issues such as it will highlight the blueprint and the roadmap of the company to
its objectives so that stakeholders of the company can see that the resources invested in the
aspect will turn out to be a successful venture.
Benefits of human capital development-

 This aspect helps Woolworths to extract the best from employees so that they can work
up to their potential. This in return will turn the employees as a resource which will be
indispensable for the company.
 This aspect helps the company to highlight some factors and their importance such as
development of personality and soft skills. It is necessary that Woolworths employs only
those people who have the right skills of communication as retail sector is build on
effective communication.
Benefits of talent development
Connecting and sharing data-
If Woolworths has right and effective strategies for the company then they will be able to
align it with the core processes and activities of HR. sometimes the data stored is not easy to
access but this will help the company to access it easily. This will help to assess the importance
of this system as because of this decisions taken for the stakeholders of the company will be
done strategically.
Development of employees-
This aspect will benefit the employees of Woolworths in a lot of ways by providing them
the courses according to their area of suitability and they can so something on their own
according to their area of professionalism which helps them to develop their skills. With the help
of the program company will be able to assess the right program for every employee working in
the company so that they can be an expert in that particular field of area.
Engagement between managers and employees
This program of talent development will help the company to increase the level of
interaction between managers and employees so that they can coordinate on the projects assigned
to them and their work can be evaluated by the managers. This way less amount of errors will be
made in a task and chances of achieving success will increase.
Improves the experience of employees-

This aspect will help the company to be beneficial in the case of reducing the rate of
turnover. In order to do that it will change the structure of the company as they need to increase
their payroll according to the experience they have gain, offer them a suitable and sufficient
package for holidays with leaves which are specifically entitled to be used for sick leave.
For instance currently for some time Woolworths has lost its position and share in the market and
they are not able to meet their goal and objectives which is the main reason why the company
has introduced this program so that they can regain their position in the market. These are the
benefits that the company will be able to get with the program of HRM introduced by the
company.
financial implications of the program
It is necessary for the finances of the company to comply with the management of HR as
no step can be executed without finances. There are a lot of aspects which are included under the
HRM program such as to ensure that they have the eligible employees for the task, it is the duty
of the HR of the company to keep the talent of employees engaged to a task and also look for
improving the rate of retention of company. In order to achieve these type of objectives it is
necessary that a budget is formed as there are many other activities which are only possible if the
HR department of the company has allocated finances in the right area. It is also necessary for
the Human resources of the company to assess and evaluate all the factors such as return on
investment, and the value of investment. If these are not evaluated then all the money invested
will turn out to be failure and all blame will go on the department of HR.
Risk associated with the program
There are various risks involved in the program of HRM such as
Human Capital Management-
Dissatisfaction-
If the employees of the company are not satisfied with the conditions of work and criteria
set for them, other than this they look for the potential of their career in the company,

compensation and the level of advancement. If there are no options for that then they will look
out for alternatives.
Attrition-
This aspect is concerned with the high rate of turnover and Woolworths faces these issues
at the junior level of staff and employees as they work as part time. it is nothing serious but it
needs to be taken under consideration as it is affecting the level of retention of employees.
Corruption-
It is the duty of the HR of the company to analyze the working of the employees so that
all the records can be assessed in a timely manner so that no assets or resources of the company
are used inappropriately.
Risk of talent development-
Low productivity of workforce-
It has been proven that there is a link between performance and productivity of the
workforce. If the productivity of the workforce is not enhanced by Woolworths then they won’t
be able to achieve their objectives. If the level of profits are low then the company won’t be able
to change the employees who are less productive.
Insufficient leadership bench-
If leaders of Woolworths is not able to use the talent of the employees in the right area
and guide them to reduce the errors then the money invested in recruiting and keeping them will
be a waste. It is necessary for the leadership to be effective in order to increase the performance
of the business.
Retention of talent-
Company has been seeing a huge rate in the aspect of turnover which is reflecting a risk
for the company as it is not easy to find a suitable talent and it is not slightly easy to adjust and
set them in the company so that they stay with the company for a long period of time.

.
SUMMARY
From the above studies it has been summarized that Woolworths needs to implement a program
of HRM as it is necessary so that they can improve their performance and gain their share in the
market. This is necessary because company was lacking in many areas which needs to be
improved and that gap will be filled by this aspect. HR department of the company needs to
undertake the performance of the employees and guide them so that they can work for the goals
of the company. It is up to the HR of the company to recruit the talented employees and manage
them so that they are not dissatisfied with the culture of work and affect the rate of turnover of
employees.
RECOMMENDATIONS
In order to improve certain aspects in which they are lacking it is necessary that leaders
of Woolworths puts more focus on the right area that is to use the talent of the employees in the
right area and look after them, support them so that they feel that their work is being supervised
and appreciated. This will make them stay in the company and achieve their goals and objectives
for a long period of time.
SCRIPT
INTRODUCTION
This report will highlight all the aspects why HRM is useful and important for the
company and how it can change the structure of the company and prepare them for future
activities (Aklamanu, Degbey and Tarba, 2016).

Importance, future and the issues handled by HRM program
it is necessary that they engage with the business so that they can assess the functions that
are different and have a clear thought process towards them. With the help of practices of HR
employees of the company must be able to make their skills as change proof which will help
them to communicate in a better way
Program to be introduced
. Human capital development will help the company to prepare them for every measure as now
they will keep backup plans for every condition and reduce the level of workforce and give them
the authority to take a grasp at the opportunities which helps them to achieve growth. Other than
this they invest in skills that are versatile and help them to sustain in the environment of VUCA,
jobs in the environment are changing at a rapid pace (Stankevičiūtė and Savanevičienė, 2018).
Nature and scope of the program
The program that is taken by the company is human capital development and talent development
which helps to lead by example the HR department of the company has a unique way to motivate
and inspire the employees (Bratton and Gold, 2017).
Why the program should be introduced and what HRM issues is it addressing
They make it visible for the whole company so that factors such as confidence, positivity and
versatility can be exuded. In this way HR practice of the company helps to respond in the times
of uncertainty. The program introduced will help the company to manage their operations by
training and developing the employees so that they can learn to work in the situation of Covid-
19.
financial implications of the program
It is necessary that in order to take an effective use of HR program the finance
department of the company is working with them together as without finances no program can be
executed (Markoulli and et.al., 2017). In order to execute the program in the right manner
company needs to do a cost benefit analysis for the program of HRM as this way they will be
able to compare and assess the returns that have potential. Also there are costs which are
invested in the program of HRM which is introduced by the company such as human capital
development and talent development.

Risk associated with the program
Woolworths operates in an environment where risk is always involved which is why it is
necessary that the company takes necessary measures and precautions against it and it is up to
the HR department of the company to prepare the employees of the company for these type of
measures so that necessary action can be taken (Cooke, 2018). There are a lot of uncertainties in
the environment which can affect the business of the company. It is necessary that the company
analyze it for the external environment so that they can assess all the factors such as political,
technological, social and other factors such as fire flood or contagious diseases that affects the
business of the company. Although the aspect of HRM does not look out for activities which are
concerned with the external factors as they focus more on internal factors of the company. But
the program taken by the company helps them to prepare their employees for uncertainties
(Armstrong and Taylor, 2020).
SUMMARY
On the basis of analysis done it has been assessed that it is necessary for the company to
implement the practices of HRM in order to improve their performance and prepare for future
uncertainties.
RECOMMENDATIONS
It is necessary that in order to change their structure and way of working they need to
comply with the advanced practices of HRM as this way they will be able to manage the
operations in a better way.

REFERENCES
Books and Journal
Armstrong, M. and Taylor, S., 2020. Armstrong's handbook of human resource management
practice. Kogan Page Publishers.
Bratton, J. and Gold, J., 2017. Human resource management: theory and practice. Palgrave.
Stankevičiūtė, Ž. and Savanevičienė, A., 2018. Designing sustainable HRM: The core
characteristics of emerging field. Sustainability, 10(12), p.4798.
Aklamanu, A., Degbey, W.Y. and Tarba, S.Y., 2016. The role of HRM and social capital
configuration for knowledge sharing in post-M&A integration: a framework for future
empirical investigation. The International Journal of Human Resource Management, 27(22),
pp.2790-2822.
Cooke, F.L., 2018. Concepts, contexts, and mindsets: Putting human resource management
research in perspectives. Human Resource Management Journal, 28(1), pp.1-13.
Markoulli, M.P., and et.al., 2017. Mapping Human Resource Management: Reviewing the field
and charting future directions. Human Resource Management Review, 27(3), pp.367-396