Managing Human Capital- Assignment
Added on 2019-12-04
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MANAGING HUMAN CAPITAL1
TABLE OF CONTENTSINTRODUCTION ..........................................................................................................................3TASK 1 ...........................................................................................................................................31 The significance of effective HR strategies in terms of creating competitive advantage forMarriott International...................................................................................................................3TASK 2............................................................................................................................................62. Drawing on HR models and critically examining the importance of HRM in changingbusiness environment by analyzing the performance of firm .....................................................6TASK 3..........................................................................................................................................103 The implication of recruitment and selection process in increasing performance of Marriott ...................................................................................................................................................10CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................142
INTRODUCTION Managing human resource is a formal process adopted by manager to enhance theproductivity and profitability of its employee. The main aim of human resource management isto attain organizations strategic objective with an proper involvement of employees. It furtherinvolve various functions like, recruitment, selection, providing induction and orientation to newemployee (Hayton, 2005). In addition to this it involve training and development program,performance appraisal, compensation and workforce planning. In order to maintain high qualityof human inventory within the organization it is important for business enterprise to retain itscompetent and talented workforce. For this aspect, management ensures healthy work culture ismaintained within the enterprise to assure maximum satisfaction of employees within thecompany (Huselid, Becker and Beatty, 2005). The main consideration of human resourcemanagement is to have extremely skilled and performance oriented workforce who ensure properinvolvement in different supportive system, procedures, policies and functions. In this reportvarious aspect of managing human resource will be studied. To enhance the study, a luxury chain of hotel Marriott International has been selected. Itis public ltd company operating effectively within tourism and hospitality industry since 1993. Itprovide its services to more than 80 countries and territories in almost every corner of the globe.In this report, the importance of HR strategies in terms of creating competitive advantage forMarriott will be explained. Further, critical evaluation of recruitment, selection, training anddevelopment program in enhancing the performance of employees will be provided in this report.TASK 1 1 The significance of effective HR strategies in terms of creating competitive advantage for Marriott InternationalWith the increase in competition at national and international level, Marriott is polishingits competitive advantages. For this aspect, company is focusing in its core competence in termsof human resources. The entrepreneurs of organization believes on a principle that, effective careof employees will assist in effective care of guest. The employees render services to targetcustomers therefore if they are happy they will keep customers happy too (Kurtzberg, Naquinand Belkin, 2005). Marriott ensure its commitment to grow its business in global market,3
maximize economic development while assuring proper focus on improving the lifestyle of itsemployees and their family. The major concern of company is to assure commitment fromemployees working within Marriott. Further, in present scenario, the organizational capabilitiesdepends to huge extent upon the capability of company to manage its human capital to attaincompetitive benefits (Sarkis, Gonzalez-Torre and Adenso-Diaz, 2010). Therefore, employees are the most vital resources for company to sustain competitiveadvantage in long run. However, to guarantee capability of company in hospitality industry it iscrucial for firm to hire best and capable employees and develop their competencies usingeffective HR practices, policies and programs. With the proper consideration on HR practices,Marriott is able to manage an inventory of up to 200,000 employees (Unger, Rauch andRosenbusch, 2011). They further help company in providing impressive services to guest as perthe set benchmarks and assure retention of loyal customers. Further, range of benefits areprovided to employee and therefore company is ranked among the best employer of UK. Theadvantages provided to employees are like, good salary as per industry rates, discount of eatablesand beverages, work-life balance, free travel deals, retirement and insurance benefits etc(Williams, Verhulst and Dunnington, 200). With this aspect, organization is able to reduceemployee turnover ratio. Therefore, HR strategies are directed towards getting most out of itshuman resources and boost commitment among members within Marriott and sustaincompetitive benefit of company. The various advantages of HR strategies in this respect areexplained as follows: Recruitment: It is a procedure of finding a suitable and competent candidates andstimulate them to employ for the the vacant job position in organization. As per the viewof (April Chang and Chun Huang, 2005) Marriott uses various internal and externalsources for recruitment process. The organization works in collaboration with top highschools and colleges to provide internship program to students. Therefore, companyeasily recruit part time and full time workers through campus interviews. Selection: With this aspect, human resource manager of company selects best candidatehaving proper qualification and skills for the vacant job post. Therefore, HR executivematches the job requirement with the qualification and skills of applicant (Crook, andet.al., 2011). 4
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