...|BUSINESS |[pic] | ASSIGNMENT FRONT SHEET |Student Name: | |Certification : I certify that the whole of this work is the result of my individual effort and that all quotations from books, periodicals etc. | |have been acknowledged. | |Student Signature: |Date: | |Student Registration Number: | |Student email address : | |Programme :MBA |Year/Level : | |Academic Year : 20012/13 |Semester : 1 | |Module title : People Resourcing |Assignment...
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...with maximum efficiency. In the nonprofit sector, creating a competitive compensation and benefits strategy is important to attract talent, but developing a total rewards package may be more important. “Employees nowadays are looking at the whole package: ‘What’s my base salary, do I have incentives, what are my benefits, can I telecommute, can I have flex time, can I have a relaxed dress code and is it family-friendly?’” Glantz said. “[If] a not-for-profit can offer what’s considered an attractive total rewards package, [it’s] going to help that company.” The argument now is that these intangibles need to be measured and monitored, and subsequently tied to the bottom line. Re-defining the bottom to include intangibles such as leadership practices, organizational capabilities, and the ability to attract talented people is necessary. In addition, as organizations continue to automate business processes using technology, in order to remain competitive against others that are doing the same, they must now focus on their talent. Additionally, though talent can be cultivated and developed, it can also leave the organization, become sick, de-motivated, and perhaps influence others to behave in ways unfavorable for the organization. Worst of all, talent can deliver the “double-whammy” by moving to a direct competitor. The strategic management of talent as such a critical driver of corporate performance has become more and more important in the last few decades. Several key events have...
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...• Reluctance to Invest: Majority of the small and medium enterprises (SMEs) in Pune are reluctant to invest in human resources (HR) services in their respective firms. They seem to have failed to realize the importance of having an HR department, which has a vision for retaining talent, developing skills and also managing hidden and known talents in the workforce. They do not gather that an HR department can help with all issues faced by SMEs – in managing everything within a holistic framework of their organization. • Constraints involved in investments HR consultancies and industry representatives are of the opinion that physical and psychological barriers are the biggest constraint in investment in these initiatives. Moreover, SMEs in Pune lack the mechanism needed to collect the structured inputs to manage HR challenges. Financial constraints are also a major hindrance stopping SMEs to appoint HR personnel. Small firms do not have enough funds to make substantial investment in HR initiatives. • Lack of segregation Many SMEs do not have department separations, hence lack chartered policies. Several employees in such industries are also reluctant in contributing to statutory contributions such as ESI, PF from their salaries. They are aware of their statutory right but are reluctant to share their income. Recently, ESI also reduced hospital facilities and these hospitals are not equipped enough to treat patients. Hence, the employees feel that it is a wastage of money...
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...MGMT235-1504B-08 Tina M. Donnelly Colorado Technical University Business Law I Instructor: Jennifer Hacker November 26, 2015 * Identify, define, and discuss the 6 elements of a contract, providing examples to help further the understanding of each element. * Offer – The first party offers to do – or not do- something for the other party. Example: I will pay you $$ to paint my house. * Agreement – Everyone involved of a contract have to show their acceptance to the terms in order for the contract to be contractual. Knowing what is for sell, example: one person wants to purchase a pair of skis for a certain amount of money. But when they hand over the skis they are not the one that was showing. * Consideration- When there is an interchange of something of worth, for a good or service provided, example: buying a car, you agree to pay a certain amount for a new car? * Terms- They are the main details and arrangement that was agreed a pond in the beginning, before starting anything find out the exact terms you are dealing with. Example: Doug states he will pay Amy $$ if she will stop shopping in his store. * Capacity - All members of a contract should be judged capable of joining in a knowledgeable contract to be binding. Make sure that the person involved in the agreement understands what is going to happen, example: a person under the age of 18, or someone that is not all together with their memory. * Legality –The correspondence...
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...and international agencies. One approach to overcome this challenge is for banks to possess effective resourcing, recruitment, selection and human capital management framework which is quick and cost effective (Kleiman, 2005). Implementing the right framework would allow banks to review, select, build and retain the best competence in candidates thereby affording them with a workforce that can give them competitive advantages. As such HR departments have become important organisational components due to their function of recruiting, developing, and retaining quality staff (Fischer et al., 2004). 1.1 Scope This report highlights the five step talent strategy of First Bank Nigeria (FBN) PLC, the effectiveness of the sourcing and talent management strategies, and recommendations that will potentially increase the outcome of the process. 2.0 Talent Management Wellins et al., 2009 define talent management as a critical process that ensures organisations have the quantity and quality of people in place to meet their current and future business priorities. Therefore talent management strategies focus on five primary areas: attracting, selecting, engaging, developing and retaining employees (Lockwood, 2006). 2.1 FBN Talent Management Strategy A talent-powered bank is one that sees workforce talent as the primary engine for sustained, competitive advantage. It's a bank that can take methodical and relentless steps to translate business strategy into talent...
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...Artist Management Agreement When to Use This Document: The following contract is an example of a management agreement between an artist’s personal manager and an artist. Such agreements are always subject to extensive negotiation, which may vary, based on individual circumstances applying to both the manager and the artist. Factors such as pre-existing success on the part of the artist, or other artist management commitments on the part of the manager should help guide negotiations with respect to such contract points as percentages and the length of the term. Always consult a respected music industry attorney before signing a contract. Why this can be a critical document: This agreement sets forth a broad range of agreed upon parameters related to the structure and details of an artist’s career and the various sources of revenue generated. Choosing a personal manager is a critical moment in an artist’s career and a document such as this indicates in detail many important financial and informational guidelines that will govern the legal aspects of a relationship between an artist and manager. Read through a document like this personally, even if you have an excellent attorney representing you (which you should), and be sure that you are clearly informed and comfortable about the process of being represented by an artist manager as it is written in your agreement. NAMES OF ARTISTS GO HERE p/k/a "GROUP NAME HERE" (Note: p/k/a refers to group name and is an acronym...
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...Running head: PROBLEM SOLUTION: RIORDAN MANUFACTURING Problem Solution: Riordan Manufacturing Khwaja Shaik University of Phoenix Problem Solution: Riordan Manufacturing Riordan Manufacturing is a global plastics producer employing 550 people with projected annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion. Production is divided among three plants: plastic beverage containers in Albany, Georgia; custom plastic parts in Pontiac, Michigan; and plastic fan parts in Hangzhou, China. Research and Development is conducted at corporate headquarters in San Jose, California. Riordan's major customers are automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers and bottlers, and appliance manufacturers. This research paper will discuss the issues being faced by Riordan Manufacturing and provides solution based on various motivation, rewards and performance concepts Situation Analysis Issue and Opportunity Identification – Total reward system The current reward system is barely based on performance, instead recognizing cost-of-living increases, seniority and position. Faced with declining morale and work ethic, Riordan managers have been pressuring the CEO to "do something" about the rewards system. Riordan’s employees comprise three major demographic groups. Baby boomers make up the bulk of the managerial and about...
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...Talent Management Terry Meyer November 2005 ALL RIGHTS RESERVED COPYRIGHT Disclaimer Publication or other use of this document by any unauthorised person is strictly prohibited. The views expressed in this document are, unless otherwise stated, those of the author and not those of Fasset. THE CONTEXT OF TALENT MANAGEMENT As South Africa embarks on it’s journey into the second decade of democracy, few can argue that tremendous strides have been made on the political, economic, social and legislative fronts. Much of our legislation and policy directions are amongst the most progressive in the world. However, many challenges remain. One of these is the shortage of professional and managerial skills and the imbalances in terms of race and gender at these levels. Another, is the need to build a robust and entrepreneurial SMME sector which will create the jobs needed to absorb the unemployed in the economy. “Staffing is the new speed limit to growth. It is not the access to capital or technology that will constrain the growth of enterprises or the South African economy, but rather the lack of adequate skills to support organizational growth plans. The traditional channels of education and training are no longer providing skills in sufficient numbers nor are they necessarily aligned to organizational needs. Organizations must participate in the development of relevant skills if they are to survive.” (Italia Boninelli, HR Director: Netcare Group1) In a knowledge and service...
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...Summer Internship Report On TALENT MANAGEMENT & PRACTICE ACKNOWLEDGEMENT The completion of this project is the result of the efforts of many people who are directly or indirectly involved with me from the initial stages onwards. I am therefore, indebted to all those who have made this project a success. Foremost, I would like to thank the almighty who has been the apostle of my strength throughout. It is my distinct honor & privilege to work under the able guidance of my faculty guide Mr. T.V.Raman & industry guide Mr. Rohin Dhar. I am thankful to both of them for their whole hearted support, kind inspiration, keen interest, affectionate guidance, valuable suggestions & analytical discussion in the research project. I am deeply indebted to their genial modesty & able guidance rendered during the course of the study. I acknowledge my sincere thanks to Director General Dr. Sanjay Srivastava, for providing necessary facilities & help for the study. Last but not the least, I feel indebted to my parents & friends who have provided help directly or indirectly in completion of this project. Also my special thanks to everyone in ICICI direct for their help & cooperation for the achievement of this goal. And a word of thanks to all those who remained unmentioned but contributed in some way or the other. They all may not be mentioned but no one is forgotten. Payal Gagneja A0101908398 ...
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...Attracting and Retaining Talent in Corporate America GB 540: Macroeconomics Randy Worthy Graduate Student February 8, 2011 “….companies were increasingly dependent on the knowledge worker..the new worker who worked not primarily physically with his body doing physical labor, but with his mind…all workers were of significant actual and potential value to the firm…labor was not an expense; labor was added value, a resource, potentially the greatest resource that an organization possessed” William A. Cohen, Ph.D. One of the most difficult challenges that employers are currently facing is finding excellent and talented employees to work for their companies. For one, resume falsifications has become notoriously rampant in the employment world. Moreover, it is now hard to find people with integrity, people whom you can have absolute trust in. An equally difficult task is to keep the bad kinds of employees out of your company. You may be very cautious with your hiring process but you will still sometimes end up with employees that give you nothing but bouts of headaches which creates employee discontent and morale issues. To help you attract and retain good employees and repel bad ones, the organization should have in place the following characteristics: a. solid reputation; b. provide clear job objectives; c. present challenges and learning opportunities; d...
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...Assignment 1 HRM532 Date: October 18, 2011 Talent Practices at The Home Depot Home Depot’s Plan Home Depot had several intentions in regarding the use of its organizational talent to gain a competitive advantage in the Do It Yourself Industry. The first of these is to ingrain the importance of corporate success through human capital. In the current economic environment, corporate success and growth; even survival, is dependent on the firm's ability to create employees that are motivated, skilled, and committed. The concept of how important human capital is to corporate success can be summed up with a quote from Nobel Prize-winning economist Gary S. Becker says that “The basic resource in any company is the people. The most successful companies and the most successful countries will be those that manage human capital in the most effective and efficient manner” (Brocaglia, n.d.). The Home Depot embraced this idea when the company considered its organizational talent as a competitive edge. The second of these intentions is first-class customer service through engaged employees. Employees are the first line of defense and influence when it comes to a firm's level of achievement in customer service. Customer service and satisfaction become the competitive advantage that allows for retaining customers longer even through severe price competition; and that satisfaction should be paramount through all stages of customer interaction (IBM, 2007). By placing such...
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...The tipping point for talent management Human Capital Institute | www.humancapitalinstitute.orgNo Comments In Malcolm Gladwell’s book, an innovation or change can suddenly appear through small, almost incremental steps, none of which by itself is especially noteworthy. But the combination of these seemingly minor events can cause organizations to be shaken, countries to be impacted and people to break out of established behavioral patterns. What could not be accomplished in one grand wave of the baton is, in fact, being accomplished by different pieces of the puzzle coming together at just the right time. We are in the midst of such a sea change in the field of talent management. This new approach to managing companies and people has not yet become a clearly articulated science. There is still too much to understand and learn about the shifts occurring before us. But there is an emerging set of practices – especially as evidenced by industry-leading companies – that are moving talent management to its tipping point The changing business context The current economic environment sets the foundation for the reason that talent management practices have arisen in the first place. Bossidy and Charan (2004) have identified five different economic stages that have existed during the past century. Others have talked more generally about the movement from agrarian to industrial to the knowledge economy. Pink (2005) describes the next step as moving from the knowledge age to the conceptual...
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...Course: Talent Management – HRM 532 Date: Sunday, February 26, 2012 Evaluate the effectiveness of the roles that the strategic leaders played in the formation of the performance management strategy. Silzer and Dowell (2010) define Talent Management as “ an integrated set of processes, programs, and cultural norms in an organization designed and implemented to attract, develop, deploy, and retain talent to achieve strategic objectives and meet future business needs” (p. 18). And lists the following as components necessary for a talent management program strategy: recruitment; selection; promotion; placement/assignment; on-boarding/assimilation; retention initiatives; rewards/recognition programs (other than compensation); training and professional development; coaching/mentoring; leadership development; performance management; career p Develop a five (5) point criteria for evaluating the effectiveness of the talent management strategy and how the data could be collected. Silzer and Dowell (2010) go on to state that after determining the talent requirements that are strategically important to the organization, the next step is to consider whether there is a sufficient internal talent to meet that short and long term business needs of the company, this could involve either making or building the needed talent from within the company or buying from outside company (p. 97). Bersin, J. (2011) provides a table to identify competencies for leadership talent (p....
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...Formulate a talent management strategy to encompass the entire talent requirements of the organization. Epperson Fit Factory is a wellness center consisting of 200 employees in which 20 of those employees are in leadership positions. The talent management strategy of the wellness center is that employee engagement is the organization’s first priority because without the motivation of employees productivity goals will not be met and the customers we serve will not be loyal. In order to motivate employees Epperson Fit Factory not only formally and informally recognizes employees; we also offer a competitive benefits package, competitive salary and an effortless sense of family. In order to offer a competitive salary and benefits package, Epperson Fit Factory will research other wellness centers in the region. We will offer at least a 5% increase in pay and ability to increase pay through higher productivity and exceeding goals. The organization will offer vacation pay, sick pay, discounted child care and monthly after hour gatherings where employees may bring family members and mingle amongst one another. Epperson Fit Factory will also work with employees to find out what their goals are and how we can help them meet them through tuition reimbursement, on the job training, networking and shadowing. Determine the key components of talent management, including identifying, assessing, and developing talent. Talent management is defined as the implementation of integrated...
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...Assignment # 1: McDonald’s Case Study June N. Lewis Dr. Waldo, Instructor Talent Management - HRM 532 Strayer University July 21, 2013 Assignment #1: McDonald’s Case Study Outline the talent management program that led to success for the company. In the fourth quarter in 2002, McDonald’s had their first profit lost and the company began to ask themselves what went wrong because they had a history of outstanding performances until then. Upon reviewing some of their key components, the organization realized that they had to revamp their Talent Management process so that it would become aligned with the company’s business objectives and policies. Talent management is defined as “a subset of human resource (HR) processes, programs, and tools designed to identify, assess, develop, and retain talent (Silzer & Dowell, 2010, p.75). The company’s first two steps in achieving success was to restructure their performance development system (PDS) throughout the organization for all of the staff positions along with coming up with a talent review process for all of the officer-level positions in the company. Next on the list was creating and implementing a sequence of enhanced development programs, such as, Leaders at McDonald’s Program (LAMP), the McDonald’s Leadership Institute, finally, the launching of the Global Leadership Development Program. When McDonald’s had originally rolled out their strategy for the performance development system (PDS) in 2001 for all of the staff...
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