Report on International Human Resource Management (HRM) in Tesco Plc
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Added on 2020-05-28
Report on International Human Resource Management (HRM) in Tesco Plc
Added on 2020-05-28
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Running head: HUMAN RESOURCE MANAGEMENTHUMAN RESOURCE MANAGEMENTName of the StudentName of the UniversityAuthor’s Note
1HUMAN RESOURCE MANAGEMENTExecutive SummaryThe report discusses about the significance of international human resource management (HRM)in Tesco Plc that intends to operate in new market that is Bangladesh. The historical evolution ofHRM and the functions of HR are highlighted in this study. Two types of HRM that is hard andsoft has been explained in this study with respective models. This paper provides brief overviewabout the development of retail sector that is going to be established in Bangladesh and variouschallenges facing this industry. The study also focuses on the present HRM strategy of Tesco andalso analyses on the international business environment in the host country using PESTLE. Italso reflects on the industry drivers including political and economic drivers of this nation. Thisassignment also highlights on the reasons for which Bangladesh economy will be attractive toinvestors. Different types of HRM strategy and implementation of Tesco’s HRM strategy in thisnew venture is also discussed in this study. The performance management as well as appraisaland reward management of this company is also elucidated in this report. The significance oftraining and development as well as recruitment and selection for this company to operate inBangladesh is also illustrated in this study. The study also gives an idea about the importance ofemployee’s engagement in performance management of the company. Lastly, therecommendation about the HRM policy that Tesco should adopt in this new market is also givenin this report.
2HUMAN RESOURCE MANAGEMENTTable of contents1.0 Introduction................................................................................................................................31.1 Hard and Soft HRM...................................................................................................................41.2 Organization Profile...................................................................................................................61.3 Industry Drivers.........................................................................................................................71.4 Host Country Profile..................................................................................................................91.5 PESTLE...................................................................................................................................101.6 Reasons for being UK attractive..............................................................................................122.0 HRM Strategy..........................................................................................................................132.1 Recruitment and Selection.......................................................................................................142.2 Training and development.......................................................................................................152.3 Reward Management...............................................................................................................162.4.1 Performance Management....................................................................................................162.4.2 Performance Appraisal.........................................................................................................172.5 Employee Involvement............................................................................................................173.0 Recommendation.....................................................................................................................174.0 Conclusion...............................................................................................................................18References......................................................................................................................................19
3HUMAN RESOURCE MANAGEMENT1.0 IntroductionThe aim of this report focuses on the human resource strategy that Tesco Plc will adoptfor operating in Bangladesh. Tesco Plc is known as one of the largest organizations in theretailing industry. Over the past five years, this company has developed owing to proper HumanResource Management (HRM). They also faced several challenges due to globalization,technology advancement, recession and consumer behavior. HRM also known as personnelmanagement refers to different practices undertaken by the organization including hiring,recruiting, deploying and managing the employees in effective way for attaining the goals oforganization (Armstrong and Taylor 2013). The origin of HRM was traced in England where theworkers organized themselves with the objective to attain enhanced work conditions. Around theyear 1920, most of the company focused on the matters on the conflict between workers andmanagement. During 1920 and 1930, movement of human relations came up from the studiesanalyzed on “human factors at job”. Till the year 1960, the functions of HRM was consideredconfined to operating workers but was not vital functions in management. HRM was alsodeveloped owing to considerable increase in competition in the UK and US businessorganizations during the year 1970 due to several factors such as deregulation, advancement oftechnology and globalization. Competitive pressures led to increased concern on the entities toengage in proper strategic planning. HRM has changed its name several times throughouthistorical period (Brewster and Hegewisch 2017). One of the forms of HRM was industrialwelfare that was later changed to chartered institute of personnel and development. MNC’smainly uses three kinds of strategies for transferring HR practices across various countriesincluding Ethnocentric strategy, polycentric strategy and Geocentric strategy. Ethnocentricstrategy utilizes similar HR practices of the parent organization in the host country. Polycentric
4HUMAN RESOURCE MANAGEMENTstrategy usually adapts HR practices of the host country. Geocentric strategy focuses only onemployee’s skills and implements HR practices that are efficient irrespective of nationality. Theinternational company uses different HRM practices in different countries for gainingcompetitive advantage in international business operations. Tesco’s should adopt polycentricapproach for operating in the new venture as their policy involves into recruiting as well aspromoting workers who are the citizens of the host nations. The organizations should implementthis approach as they might face heterogeneous environments where the preferences of thecommodity might be the deciding factors and hence implementation of their strategies should bedeveloped on market basis (Bratton and Gold 2012). This report also focuses on importance ofperformance management and appraisal for this organization to operate in this new country.Furthermore, recommendation on the strategies that this organization should adopt in this newmarket is also explained in this study.1.1 Hard and Soft HRMThere are several ways to the HR management approach in the business. The two majorapproaches out of these include- Hard HR and Soft HR. In case of Hard HRM, the employees ofthe company are treated as the resource of business and manage them according to the goals ofthe organization (Jenkins and Delbridge 2013). Both the operational efficiency and assessment ofcost are the main objectives of hard HRM. On the other hand, soft HRM treats the workers of theorganization as the vital resource of gaining competitive advantage. This strategy mainly focuseson the requirements of employees including roles, motivation and rewards. It is also known ashuman capital value, which focuses on the workforce planning for longer term.
5HUMAN RESOURCE MANAGEMENTFor determining the requirement of personnel, the organizations should adopt both hardas well as soft HRM strategy. This MNC should adopt hard HRM strategy in order to evaluatefuture personnel needs. In contrast to this, soft HRM approach should also be considered by thecompany as the skills, attitude and aptitude of workers will help them in doing the futureassignments. Moreover, both hard and soft HRM should be adopted by Tesco Plc in order tomeet their operational as well as strategic objectives. In addition, hard and soft HRM will alsohelp the company in providing data to the businesses for making vital decisions and meeting therequirements of workers and businesses. They should also invest on workers empowerment andtheir participation in management (Jiang et al. 2012). In fact, their strategy should basicallyrevolve mainly around work simplification for achieving steering targets. They should also stresson providing higher training level to the workers, which might help them in increasing workerscommitment towards the company.The Michigan model mainly concentrates on the individualist as well as organizationalperformance that rely on strategic control as well as company’s structural system to manage theirHRM and goals (Ashkezari and Aeen 2012). This model emphasizes on the interrelatedness aswell as coherence of the HRM activities in the company. Therefore, this concept is considered asone of the hard approaches of HRM. This model should be aligned by Tesco as it will help themin managing the assets of employees by motivating as well as rewarding them, which in turn willhelp them in improving their financial performance.Another HRM model is the Harvard model that focuses on creating better relationshipbetween employees and the company for achieving higher output level. Brewster andHegewisch, (2017) argues that, this model basically identifies the procedure of equalingrespective interest, which in turn influences the company’s selection to HRM policies, reward
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