HRM Strategies for Creating Values in Company

INDIVIDUAL PROJECT
FOR HR

TABLE OF CONTENTS
INTRODUCTION.......................................................................................................................................3
A) Explaining HRM strategies for creating values in company........................................................3
B) Analyzing the impact of regional and national culture on practices of HRM in China................5
C) Describing appropriate organizational employment model and levers used by organization for
creating value..........................................................................................................................................6
D) Using storey’s 27 point of differences between HRM and personnel management as a
benchmark describing practice used by Philip in China..........................................................................7
E) Explaining significance of local culture in hiring & firing and HRM practices need to undertake in
general and International subsidiary........................................................................................................8
F) Examining the difference in terms of employment laws when international HRM changes to local
business.................................................................................................................................................10
G) Describing corporate examples of good HRM practices of firm...............................................10
H) Recommendation regarding HRM practices for higher organizational performance.................11
CONCLUSION.........................................................................................................................................12
REFERENCES..........................................................................................................................................13

INTRODUCTION
Human Resource Management is the practice of managing people of company that assist
firm to reach its organizational goal and objectives in effective manner. In current era, it has
become essential for company to adapt strategic approach for retaining, attracting and controlling
employees due to increases competition in industry. The chosen company in current case study
is Philips that’s a EU established firm. It is one of the largest electronic company of world that
deals in domestic appliances, personal & connected care, diagnosis and treatment equipment.
The present report will examine values created by Philip through HR practices. Regional and
cultural impact on activities of human resource management in the mentioned country. Current
report will include organizational employment model and levers for creating value. In order to
define the practice of HRM or Personal management adopted in present case study storey’s 27
point of differences will be used. Report will give emphasis on importance of local culture and
HRM practices for hiring and firing in international subsidiary. Difference of employment laws
in international HRM changes to local business system will be included along with
recommendations for improving employees’ management practices to achieve higher
organizational performance.
A) Explaining HRM strategies for creating values in company
Strategic human resource management is relationship between firm’s employees, objectives,
& goals which aims to achieve competitive advantages. It plays an important role in
obtaining success in effective pattern. Philip has various values for smooth functioning of
organization that includes, fast delivery, priority to customers, quality & integrity, team up,
enthusiasm to improve and inspire. There are several human resource practice that business
conducts for formulating values so that organizational objectives can be attained.
Balance Score Card

Using this Philip aim at communicating firm’s objectives, vision, mission to employees.
It also focuses on making clarity among workers that what they are expected to do in
particular task. Business gives emphasis on identifying factors through balance score that can
improve company’s efficiency by formulating values like fast delivery, team up, etc.
Collaborating with employees across business boundaries for giving best experience to
customers (Taamneh , Alsaad and Elrehail, 2018). The firm is proactive, decisive and
committed to gain complete work from employees in strategic & planned way.
Total Quality management
It is an approach utilized by business for long sustainability through focusing on
customers satisfaction. It is established through contribution of all employees by participating
in improving process. Philip uses this to ensure that its values created for client satisfaction
are obtained. This process encourages and motivates through making enthuastic working
scenarios. It is continues improvement procedure as it concentrates on planning process &
action for making change. Eager to inspire and improve value is attained by this mode of
human resource practice. Philip celebrates success with colleagues and pays attention on
problem solving related to working culture of company.
Performance Measurement
The main purpose of this human resource activity is to obtain quality & integrity through
workers’ performance. For this company aims at developing plans, setting targets, analyzing
efforts of workers and making corrective actions for desire result. With respect to this, Philip
compares actual outcome with estimated standards so that full potential of employees can be
derive in effectual manner (Blom and et.al., 2020). Firm play crucial role in motivating
employees for giving better outcome than previous in turn continuous improvement is
achieved. HRM practice such as social gathering, installing workouts, standardization
performance is established for creating healthy working culture (7 best human resource best
practices, 2020). It is also carried forward by taking feedback from customers, income from
operations, brand value, etc.