Human Resource Management Issues in Premier Auto Components' Expansion
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Added on  2023/06/11
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This report discusses the human resource issues faced by Premier Auto Components in their expansion plans, including hiring, retention, and firing of employees, talent hire and reward practices internationally, and maintaining a high-performance workplace based on a sustainable and ethical HRM system.
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Table of Contents INTRODUCTION..........................................................................................................................3 TASK..............................................................................................................................................3 Human resource philosophy ofPremier auto components affecting the hiring, retention and firing of employees.....................................................................................................................4 How does PAC maintain its talent hire and reward practices internationally, given that employment laws differ in other countries?................................................................................5 Critically analyze how PAC maintain a high-performance workplace based on a sustainable and..............................................................................................................................................6 ethical HRM system....................................................................................................................6 Recommendation............................................................................................................................7 CONCLUSION...............................................................................................................................8 REFERENCES..............................................................................................................................10
INTRODUCTION Expansion is related to those function of the organisation under which the company try to maximise their business so that the growth can be achieve from the market. There are different ways are present in the market which can be used by the company to make the process of expansion such as product development, market development and diversification. It depends upon the situation and the condition of the company that which method they have choose for the expansion of the organisation. The process of the expansion are very beneficial for the management of the organisation because it protects the company from saturation and enables them to conduct their business in new market or the product range. There are many situations are present in business under which the management has to face to continue their business with same market or the product range so expansion is the tool which has ability to solve these problems of the market. This report is based on the expansion of Premier auto components. The management of this organisation wants to expand their business in some other counties of the world. This report talks about the human resource issues which the company has to deal in the process of expansion. TASK The management of has done a business of vehicle parts in the market. They have provided the components of the mass vehicle which is one of the attractive business of the market. The management of the company wants to expand their business in other countries of the world so that they can achieve effective growth in the market (Son and Kim,2020). The name of the country where the company wants to expand their business are North America and Western Europe which are one of the important and biggest market of the world. The management of the company not only expand their business by a way of market development but they have plan to shift their business from the components of normal cars to luxury cars. It is very important for the management of the company that they focus on different factors and human resource is one of the most important factors which the management of the organisation has to deal with if they want to achieve their expansion goals. There are many component are present in human resource which the management of the company has to deal with such as hiring firing and retention.
Human resource philosophy ofPremier auto components affecting the hiring, retention and firing of employees. Human resource management is one of the important department of the organisation under which the employees of the organisation are came under. There are large number of employees are present in the workplace ofPremier auto components which are having differentmindset. It is very important for the success of the company that their employees becomes motivated towards the organisation (Kim, Lee and Kim,2020). The management ofPremier auto components wants to expand their business in new countries so it becomes important for them to develop those strategies and philosophy in the market which are having special preference towards the retentionand motivation of the employees and the brief discussion related to same are given below: Final salary pension scheme It is one of the most attractive scheme of the country which is related to provide the pension facility to the employees of the company. Under this scheme the employee which is retired from the company as per the decidingage has get huge amount in single transaction. It is very attractive scheme which becomes the ultimate motivation to the employees. There are many benefits can be enjoyed by the retiring employees due to this facility. The amount which get by the employee can be utilise by the employee to start small business which helps them to live their life effective after retirement. This helps the employee to improve their standard of living after retiring from the company. It help the employees to develop source ofrevenue after the retirement which is one of the important and valuable aspect of the life. The management of Premier auto components has expand their business in the market of North America and Western Europe where this scheme are not compulsory. The requirement of the talented employees are very high in these countries. If the management ofPremier auto components has continue this scheme in these new markets then it becomes positive for the organisation to continue this scheme in new markets because it helps them to attract the talented and skilled towards the company. Training of employees The management ofPremier auto components has deal I providing auto parts in the market which involves the physical manufacturing of the products (He, Liu,and Parvez,2019). The need of skilled employees are very high in this type of work in the market. The management of
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the company has developed different types of training programmes in the organisation. Under these training programmes of the company the employees of the organisation has get practical and theoretical knowledge of the business by different business coaches. The development of workingskillsinthepersonalityof theemployeesisoneoftheimportanttaskof the management because it helps to make the employees more productive in the market. There are many workshops are organised by the company under which different types of skills are developed in the employees so that it becomes positive for the company to achieve their goals and objectives from the market. It is not possible for the management ofPremier auto components that they get all the skilled employees from new market where they want expand their business. It is important for the company that they develop effective training frameworks in these countries so that the training of theemployeescanbetakenplace.Thetrainingofemployeesareveryhelpfulforthe development of the employees in the organisation because of the development of the skills in the personality of the employees. If the employee has get considerable development in the company then it becomes positive for their retention in the company. Ineffective pay structure The management of Premier auto components has many claim in relation to the pay structure of the employees. It is analysed from the market that the company does not pay to the employees as compare to the degree of work (Hanjabam and Paliwal,2020). It is very important for the success of the organisation that the pay structure of the company becomes effective. It helps to attract talented employees towards the organisation because most of the employees of the market are sensitive towards the pay structure which the company has offered to their employees. HowdoesPACmaintainitstalenthireandrewardpracticesinternationally,giventhat employment laws differ in other countries? The management of thePremier auto components wants to develop effective business arm in newmarkets of the world so that the company can achieve effective growth in the market and their profit margins can be improved. One of the requirement which the management of the organisation has to maintain the supply of the talented employees in the organisation. There are are many measures has taken by the company so that thetalented employees can be the part of the company which is very important for the growth of the company. Train and update the managers regularly
It is one of the great approach which the managers of the organisation can be use to maintain the talent in the organisation. Under this approach the management of the Premier auto components has to make their managers motivated towards the organisation so that it becomes positive for them to develop effective framework in the organisation (Geiglou and Chakherlou, 2019). One of the greatest influencer which maintains the talent of the managers is to update their salary structure in the organisation. If the salary of the managers increases as per the performance then it becomes positive for their development. Promote work life balance The promotion of the work life balance is one of the important and valuable method which helps the organisation to maintain the talented employees in the organisation. It is analysed from many examples that the general problem which all the employees has faced in their professional career is that they becomes disables them to maintain their personal life. If the management of the organisation has provide them considerable timing for the management of their personal life then It becomes positive for them to develop effective and valuable returns to the company. Critically analyze how PAC maintain a high-performance workplace based on a sustainable and ethical HRM system. The performance of the employee plays a important role in the management of the organisation because it enables the organisation to achieve all their goals and objectives effectively in the market. It is very important for the management of thePremier auto componentsthat they analyses the needs and desires of the employees which helps the management to make the process of motivation in the organisation. It helps the managers to develop effective and valuable growth for the country in the market. The brief discussion related to the same are given below: Define goals and direction It is very important for the management of the organisation that they develop effective and valuable goals and objectives for the organisation because it helps to improve the profit margins of the company(Cheng, Lu and Zhen, 2019). Only the development of the goals and objectives arenotsufficientfortheappraisaloftheperformanceoftheemployeesbutalsothe communication of these goals and objectives to all the customers of the market. It is very important for the managers of thePremier auto components to convey the goals to all the employees so that it become positive for the employees to work in right direction. Reward and recognition
It is one of the important factors which motivates the employees towards the achievement of the goals and objectives in the market. There are large number of rewards schemes are present in the market which can be used by the management of Premier auto components such as pension, compensation, performance appraisal and many more. All these tools are very helpful for the development and the appraisal of the performance of employees in the organisation. Employee feedback It is related to tool of the management under which the employees has provide their suggestions grievances and problems related to the company. It becomes the duty for the managers of the organisation that they analyse all the feedbacks and try to solve them so. If all the grievances of the employees becomes solves in the management then it becomes positive for the company because the performance of the employees becomes increases due to their motivation towards the organisation. It is very important for the managers of Premier auto components that they establish proper communication in the organisation so that the employees can express their grievances. Recommendation It is recommended to Premier Auto Components to usepension option designed to retain skilled and experienced worker. Pension is a regular paid money that can be offered by private company or government to a person who does not work as they are old or ill to do so. It is important for Premier Auto Components as it allow them to manage international talents. Retirement planning is important for a person as it provide them stability in life. It is important for an individual to plan for retirement by considering increased inflation level and also with limited social security initiatives. It provide different benefits to employees which attract them towards organisation ofPremier Auto Components. These benefits are guaranteed income that provide them stability in their old age when they are unable to work. It also provide tax efficiency to a person and also liquidity in their life(Baranovsky and Naumkin, 2018). An individual in order to get stability looking for an organisation where they can get pension facilities. It provide different advantage toPremier Auto Components as on basis of this strategy, company is able to attract skilled and talented employee towards their organisation. It also create sense of satisfaction among among employees which allow them to work with dedication in firm and also increase their efficiency to work in company. It allow firm to increase their productivity and also get acceptance of employees to implementing changes in company. It
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allow firm to increase job satisfaction among employees and allow firm to retain their employees for long term and gen long term benefits for improved efficiency of employees. It is also recommended to employees of Premier Auto Components to focus on an aspect of HPW. High performance working in one of international human resource management approach which allow firm to manage organisation that stimulate employees to make employees more involved and committed to work for attainment of high performance level. It is a practice adopted by firm in order to improve performance of employees. It can be work mainly in three areas like high employee involvement, compensation and rewards and HR practices. In order to implement this strategy, Premier Auto Components can empower employees through offering them autonomy for work in efficient manner and also for plan things in effective manner. Premier Auto Components can also ensure framework as well as policies that provide guidance to people. It is important for people management process that allow a person to maintain transparency and allow employees to follow things which are expected to them. It allow company to ensure open communication with employees that is important for them in order to get sense of belongingness. In order to implement high performance working, organisation also offer rewards and recognition to employees (Arshadnejad, 2019). It motivate employees to give their performance as they will get rewards on basis of their performance. It is also important in order to improve productivity of employees and also to attract new employees. It allow employees to learn new things and develop new skills that allow them to ensure professional development. CONCLUSION It is concluded from this report that human resource management is one of the important feature of the process of expansion. There are different types of actions are present such as retention, hiring and performance are present are concluded in this report. This report concludes brief discussion related to the strategies and philosophies of human resource management.
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