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Unpredictable Labor Requirements in the Industry

   

Added on  2019-09-26

16 Pages2853 Words162 Views
FINANCIAL AND HUMAN RESOURCE MANAGEMENTName of the Student:Name of the University:Author’s Note:

FINANCIAL AND HUMAN RESOURCE MANAGEMENTTable of Contents1. Introduction..................................................................................................................................32. Analysis of Risks for Tender Adjudication Process....................................................................33. Information on School Project D&B...........................................................................................54. Internal and External Stakeholders..............................................................................................55. HR Planning.................................................................................................................................76. D&B of the Organizational Structure..........................................................................................87. Evaluation of the D&B Organisation in Singapore....................................................................88. Major duties of the project staffs.................................................................................................99. Selection and recruitment process............................................................................................11References......................................................................................................................................152

FINANCIAL AND HUMAN RESOURCE MANAGEMENT1. IntroductionThe following study would critically analyze and evaluate the issues for the tender adjudicationprocess in the case of the SGD20 million design and build (D&B) project in order to build a newpublic school at Jurong East. Furthermore, the study would also provide suitablerecommendations in order to mitigate the issues.2. Analysis of Risks for Tender Adjudication ProcessFor the tender adjudication process, there are varieties of human resource management (HRM)risks. These risks are:RiskDescriptionLikelihoodConsequencesRating &ClassShortageof StaffMembers This is a reference to the staff members who work inlow skill required jobs such as moving objects. There isa high probability of this risk due to the fact that thereare difficulties in getting foreign workers as per MOMregulations and even local workers are refusing to takesuch jobs (Cascio, 2015). As a result of this, theduration of the project would increase.339(Medium)ShortageofSpecialized StaffMembers There are various jobs that require skill sets, whichcannot be acquired easily or quickly. Such jobs aretrained workers for excavation, fork lifting, welding,and many more. As a result of this risk, the cost, aswell as the duration of the project, can increase if thirdparty members are sought after.3412 (High)Lack ofcompliance withThis is a reference to the compliance issues such asoverworking, lack of safety and protection whileworking, and many more (Taylor, Doherty, and248(Medium)3

FINANCIAL AND HUMAN RESOURCE MANAGEMENTHRMcGraw, 2015). As a result of this risk, the progress ofthe entire project can be stopped until the issues aresolved.Table 1: HR Risks of the Project(Source: Created by the Learner)RiskActions and Control MeasuresRevised Rating of RisksShortage of StaffMembersThe HR should plan as well as control theentire workforce required for the different jobroles in the project. HR should also develop acontingency plan for the future. Furthermore,the third party should be informed of theiravailability if there is a shortage of workforceor specialized staff members (DeCenzo,Robbins, and Verhulst, 2016).1 X 3 = 3 (Low)Shortage ofSpecialized StaffMembers2 X 4 = 8 (Medium)Lack ofcompliance withHRHR should monitor all the compliances forthe project and the staff members. Moreover,the compliance should be checked in therecruitment process so that they can befollowed when the new staff members start towork.1 X 4 = 4 (Low)Table 2: HR Risks Control Measures(Source: Created by the Learner)3. Information on School Project D&BThe SGD20 million public school which is the D&B project located in the Jurong East and isfunded by the Ministry of Education. In the school, three separate buildings are constructed andlinked by a bridge on the second floor. The school is constructed in a location where the land isbarren with a good soil condition suitable for the creation of the base of the building.4

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