Strategic HRM Project Report: Knight Frank and COVID-19 Impact

This report presents a Strategic Human Resource Management project undertaken for Knight Frank, a leading property and real estate consultancy firm. The project addresses the impact of the COVID-19 pandemic on the hospitality industry and its implications for employee engagement and motivation. The report includes an introduction outlining the project brief and company background, followed by a literature review examining the challenges faced by the hospitality sector during the pandemic, including reduced profits and safety measures. The report also explores employee engagement and motivation strategies. Knight Frank's core values, services, and operational structure are examined to provide context for the HR project. The assignment aims to deliver a comprehensive understanding of strategic HRM practices and their application in a real-world business scenario, offering insights into organizational strategy, employee management, and the challenges posed by external factors such as the COVID-19 pandemic.

Strategic Human
Resource Management

1. INTRODUCTION
1.1. Project Brief
In Human Resource Management, the society plays a very essential role which helps
create better workplace where employers and employees work together to get a common
objectives. And in Strategic Human Resource Management focuses on future oriented process of
developing and implementing Human Resource programs that highlights and resolve most of the
business problems and directly makes their contribution in future major long term organizational
objectives. It is the foundation for any business when it is properly applied in business functions.
It ensures the employers that the company as a whole is contributing efforts to achieve that
common goal which gives company a bigger opportunity to succeed. A strategy of the company
can include common goals and objectives, the kind of products and services that managers plan
to build, the consumers want to sell and deciding the markets to serve by which profits can make.
1.2. Executive Summary
1.3. Company Background
Knight Frank is a leading property and real estate consultancy firm based out of London. It
has its global partner in New York that is Newmark Grubb. Around the globe Knight Frank has
more than 500 offices which covers more of 60 territories. These companies act as ridge between
people and builders. Knight Frank Company lends services to people in a segmented and
categorized way that are:
1. Advisory Services
2. Agency Services
3. Management Services
Knight Frank deals in both Commercial and Residential Properties. The company’s core values
are:
 Trust and Integrity
 Professionalism
 Teamwork
 Drive
The services provided by the company are further classified into different end to end services.
 Advisory Services
 Consultancy: The real estate consultancy company gives specialized investment and
financial advice to clients looking to buy, sell and investment in property.
 Valuation: The services provided to help or to assist clients with dispositions, tax
planning, compliance, mergers and acquisitions and many more.
 Research: Market research involves a key role in commercial as well as residential
real estate business.
 Agency Services

 Capital Market and Lands
 Residential
 Office
 Industrial
 Retail
 Hospitality and Leisure
 Management Services
 Project Management: It helps in controlling schedules, costs, and specifications.
 Facility Management: It refers to the third party service for the maintenance of
building or office. Or outsourcing the management of entire facilities to a
different specialized service company.
2. LITERATURE REVIEW
2.1. COVID-19 and Its Implications for the Hospitality Industry.
As per the view point of , there was the first time where business and the whole
world faces such a challenging situation where travel is restricted, socially distancing are
applicable to whole world. The cold-hearted March of COVID-19 around the whole world is first
and foremost a human tragedy which health of many get affected by this disease. The
consequences of measures are taken by all over the world to limit the pandemic situations with a
greater impact of economies of nation. All business no matter what the business size is facing
serious challenges, especially those in hospitality, aviation or in tourism industry with an actual
threat of declining revenues, job loses or insolvencies in particular job sectors. It has been impact
harsh to small and medium size business. For 2020, industry experts have predicted that due to
this pandemic situation there was decline in an estimated profit of 11-29%. The KHN (Kaiser
Health News) has said that the safety measures taken to limit this emergency consequences has
already affect the industry in a serious way. There survey found that hospitality managers
believes that cancellations have risen by almost half and could make loses of 33%.
2.2. Employee Engagement and Motivation.