Human resource management and organizational success
Human resource management (HRM) strategies and policies play an important role in professional and business development and success (Sharma 3). As a result, both managers and leaders are anxious to study diverse human resource practices throughout a wide range of organizational operations, from production to market distribution or sale of final products and services. Furthermore, HRM practices provide a foundation for organizations to conduct performance management analysis in order to determine the organization's success. This essay is about self-performance management and company success.
Acquiring and developing human capital
Human resource techniques are useful from both a professional and managerial standpoint, and I would follow such practices in order to be a good manager and leader. For instance, by acquiring and developing a company’s human capital, HRM practices can influence the skills of the employees. Organizational success largely depends on the type of workers recruited. Therefore, developing and implementing proper recruitment procedures or processes that check into various aspects of the recruits including, academic qualifications, relevant skills and knowledge, and experience, among other factors, is likely to assist in having a highly competent team in a company. Also, the recruitment process should be fair to all workers so that only the qualified are given opportunities (Meyer 296). This way, a company operates all the way smoothly since the potential cases of quacks are reduced or eliminated.
Prioritizing employee development
According to Sharma (197-198), it is important to prioritize employee development through initiating various programs that will improve workers’ skills and knowledge and in turn improve the performance of the firm. Such programs expose workers adequately and as a manager or a leader, providing informal and formal training experiences including training on the core competencies, coaching, on-the-job experience, management development, and mentoring, are likely to bring success. However, managers and leaders should carefully adopt the changes in order to avoid negative interferences or impacts on the firm’s operations or management. For instance, before the Great Wall Capital, BeachCo is profitable and has a high customer loyalty. However, after the acquisition, things get worse, and the firm starts receiving complaints from the customers and lags behind in various operations, implying a wrong move.
Motivating employees
Highly experienced and skilled workers may be limited and thus fail to deliver as expected if there is no motivation (Meyer 296). As a manager or a leader, taking up the responsibility of encouraging employees to work hard in a company will lead to success. For instance, adopting fair performance appraisals and use of promotions with a focus on incentive compensation schemes and employee merit, among other incentives, are with no doubt catalysts for improving employee performance. Therefore, by scrapping the Associate’s Bonus Plan at BeachCo and even closing the BeachCo employee cafeteria, the firm’s workforce could be highly demoralized and thus the subsequent low performance. On the other hand, by rewarding the deal makers who beat the estimates on the selling or purchase price, Great Wall Capital is likely to improve its performance and achieve more success.
Improving performance through organizational structures
Lastly, through HRM practices, the provision of organizational structures, which allow employee participation, will improve the way jobs or duties are performed (Sharma 5-8). As a manager or a leader in a company, I would adopt appropriate HRM practices such as job rotation, quality cycles, and cross-functional teams in order to improve performance. From the case study, the Great White Capital has tough targets that translate into the high turnover (25%). However, the organizational structure does not provide avenues through which issues affecting the workforce can be addressed and is likely to demoralize the workers. Taking into considerations the needs of the employees is vital to achieving success, and Great White Capital could boost its performance and increase its turnover by listening to its employees who are already working hard.
Works Cited
Meyer, John P. Handbook of Employee Commitment. Northampton, MA: Edward Elgar Pub, 2016. Internet resource.
Sharma, S K. Handbook of HRM Practices: Management Policies and Practices. New Delhi (India): Global India Publication Pvt Ltd, 2009. Print.
