Challenges Facing by Human Resource Management
Added on 2019-10-01
12 Pages3459 Words156 Views
Running head: HUMAN RESOURCE MANAGEMENTResurfing from the CrisisNameSubmitted to DateTable of Content
sRESURFING FROM THE CRISIS.................................................................................................1Introduction..................................................................................................................................1Literature Review.........................................................................................................................2Analysis of the Issues and Arguments.........................................................................................4Conclusion...................................................................................................................................5Recommendations........................................................................................................................5References...................................................................................................................................7
IntroductionIn this current paper, a discussion is represented in the ways in which company facing challengeswith employee retention can be helped, with the impactful strategic retention management plan. Here in this paper, we are addressing the employee retention problem and the problem with employer branding of VIR’s Multinational Company. A literature review is also later presented in this paper to refer to the concepts revolving around strategic management that guide best HR practice to achieve employer branding and employee retention (Anitha and Begum, 2016).As a senior HR executive of the talent acquisition department of the company, my prime role andresponsibility is to understand the manpower acquisition of the concerned department. Recently, our company is dealing with challenges in employee retention, and as every management knows that in the current scenario, a major challenge for any organization now a day is to retain its valuable and talented employees. To solve the employees’ migration issue, an efficient employment branding and marketing team has been identified and selected from my end to help in discerning the reason behind employees leaving the organization, and based on the findings the role of staffing operation of the company comes into foreplay. A successful staffing operation aids in hiring, positioning and overseeing employees in an organization. Overall, my primary role is to build a recruiting team to conduct a sourcing operation in order to make the company stand in a position to become an Employer of choice (Heilmann et al., 2013). Link between HRM practices with business strategySince human resource management is an integral part of a successful business strategy, an organized HR department very well knows and understands the importance of keeping employees' focus on the company's financial goals while providing opportunities for employee growth and advancement. Successful business managers thrive upon the facts that outstanding HR departments offers an organization potential prospects to do good business by delivering well-trained and motivated employees to achieve the company's financial goals (Armstrong and Taylor, 2014). The implementation of strategic human resource management is highly important in today’s world as the extent up to which degree of integration exists between human resource management, and business strategy characterizes firm’s competitive advantage.
Literature ReviewIn this current paper, a review is represented in the discussion based on the synergy between HRM theory and organizational performance. Since much of the research work has been previously carried out on HRM for the very basic reason of its potentiality in managing the firm or any organization and the amount of impact it makes on performance of the firm, therefore the current literature review emphasizes particularly on those research studies which have been undertaken in the field of HRM being more specific about HRM practices and organizational performance in various sectors. The term HRM theory was first coined in the year 1980 and is considered to be employee-friendly one, as the theory came to counterbalance the trend which considers man as a machine through past several decades (Gittell and Logan, 2015). The current literature deals with the establishment of co-relation between HRM theory and organizational performance, as this relationship would help the firm in understanding the cause of employee retention problem (Kurian and Naik, 2014). Milgrom and Roberts (1992) defined this synergy as a condition when putting one’s interest into more of an organizational activity increases the returns to doing more of other related activities. Huselid et al. (1997) bifurcated the HRM activities into two parts, where the first part deals with technical HRM activities and the second one with strategic HRM activities. Strategic HRM activity addresses the concept associated with vertical fit whereas, the technical HRM connects or integrates a series of HR practices that not only support each other, but also enhance and proliferate the effectiveness of one another (Alam et al., 2010). These two activities included over here attract skillful employees into the firm, keeping in view the organizational performance, and then placing them in suitable positions. Theactivities also include training these employees to work in a specific way in which organization works, and also motivating them to provide some fruitful schemes that would benefit organizational objectives (Wei, 2006). A systematic design is thus addressed here in this literature to coordinate these separate HRM practices for achieving the horizontal fit. This idea of horizontal fit has nowadays changed the SHRM researcher’s focus from individual HRM practices to the entire HRM system. The theory illustrated by Becker and Huselid (1998) in this current literature strongly debates that although there are many stakeholders in an organization, but the prime goal of any business has always been concerned towards higher financial performance or maximization of wealth or
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