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Myer Company's HRM Strategies and Talent Management

   

Added on  2023-06-12

6 Pages1107 Words57 Views
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RUNNING HEAD: Digital Media influences the student’s lives
0

Human Resources Management
1
Myer Company
Human Resources Management
Name of the student:

Human Resources Management
2
Executive summary
With the ramified changes in economic business factors, each and every organization
needs to use proper Human Resources Management in their business to hire and recruit
talented employees. This report reflects the several motivation theories and talent attraction
HRM policies adopted by Myer Company. It is upmarket Australian department store chain
trading in all Australia. The stock price of the company is stable MYR (ASX) A$ 0.35 0.00
(0.00%) which shows stable business functioning since last five year. This report focuses on
the talent management strategies and HRM programs which are used by the organization to
run the business effectively. There are several motivation theories such as Maslow
Motivational theory, ERG factors, and self –actualisation theory which could be used by
HRM department of HRM to motivate employees. The main two aspect of HRM is related to
hiring and recruiting the employees, developing proper motivation program to attract talented
employees and arrangement of dip and other rewards system for promoting employees to
accomplish the set objectives and goals. The Myer Company has a complex business
structure in which HRM focuses on reducing the employee turnover by implementing
motivational theories and implementing proper training and development program. Currently,
Myer Company has 14,000 employees who are making efforts to run the business effectively.
However, HRM department is indulged in promoting and motivating them by using the
reward system, training and development and implementing employee’s oriented
organizational culture. The main outcome of this report is to identify the motivational factors
and how reward system, training, and development, designing employee’s oriented
organizational culture and implementing Maslow Motivational theory, ERG factors and self –
actualisation theory will be used to promote and motivate employees to perform effectively.
However, this proper HRM program will also effectively hire talented employees and
implementing an effective reward system to promote employees (Anwar, and Tufail, 2017).

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