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Human Resource Management of McKinsey and Company, UK

   

Added on  2023-04-23

20 Pages1563 Words226 Views
HUMAN RESOURCE MANAGEMENT
OF MCKINSEY AND COMPANY, UK

OVERVIEW OF MCKINSEY AND COMPANY
Type- Incorporated partnership
Industry- management consulting
Operates in 127 locations
Deals in providing assistance to the clients regarding
data and insights, advanced analytics, designing
capabilities and range of software solutions
Revenue- $10 billion according to the annual revenue
of 2018
Number of employees- 27000
Competitors- Boston Consulting Group, Bain &
Company
Organizational structure- partnership
Organizational culture- protecting the interests of the
clients, high ethical standards, preserving confidence
of the clients and management of the cost effective
resources

PURPOSE OF HR FUNCTION IN MCKINSEY AND
COMPANY
HRM helps McKinsey and Company to manage
the human resources, that is, the staffs
HRM is needed in terms of ensuring that the
coordination between the staffs is maintained
Management of the human resources enables
McKinsey and Company to attain competitive
advantage over the contemporary brands
Communication between the departmental
units helps in averting conflicts
Negotiations with the union members
supports McKinsey and Company to seek
innovative means for enhancing the efficiency
in the business processes
HRM helps in the maintenance of employee
life cycle starting from recruitment and
selection to the termination

KEY ROLES AND RESPONSIBILITIES OF HR
FUNCTIONS IN MCKINSEY AND COMPANY
Assessment of the resources with the identified
and specified goals
Establishing contact with the research and
development team for adding innovation in the
business processes
Conducting counselling sessions for the
employees for gaining an insight into their
needs, demands and requirements
Adopting change management theories and
models
Constructing plans for training the employees
Understanding labour laws and ethics

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