Hr plan for principle financial group essay

Get Full Essay Get access to this section to get all help you need with your essay and educational issues. Sodexo and Principal Financial Group are among the top 50 to be recognized as being able to manage diversity effectively. It is important for organizations to grow in the global market to keep up with the economy. The growth of the company increases the importance for all levels of employees to interact with people different from themselves.

Hr plan for principle financial group essay

Human Resource Management Essay HRM Strategy and Organisational Change With the pressures of intensive competitive forces throughout the textiles manufacturing industry radical organisational changes need to be confronted and adopted by Tenrose. Its pressures have mainly come from the increased competition from cheaper overseas manufacturers along with new and established local competitors.

The closure of Textile which was based in Leicester resulted in concerns in relation to strategic human resource management linked with organisational changes. As a result the traditional personnel management model and lack of established policies dealing with the training of staff which because of the strong power of trade unions historically within the UK generated critical challenges for the company.

The traditional personnel management model focused on controlling or namely it can be suggested that the origins of personnel management lie in the exercising of power over workers.

Therefore it is workforce centred model, Torrington et al, In contrast HRM is directed at management in viewing employees as an important strategic resource for an organisation with a significant emphasis being put on planning, monitoring, motivating and mediation rather than control orientated functions alone, Torrington et al, Accordingly these organisational changes and external competitive environmental forces forced Tenrose to adopt a strategic HRM approach in solving emerging conflicts and issues related to employees in particular during the organisational change process it was undergoing.

Torrington, Hall and Taylor suggest that human resource management is about getting the right people to work in the most productive way in the positions most suited to their abilities. Thus managers at Tenrose first of all have to strike a balance between people's needs including employees and management as well as shareholders within the framework of what are its organisational objectives.

In order to reduce long-term costs which is able to create competitive advantages, HRM activities are held to be those which focus on the quality of the human resource available such as the maintenance of know-how expertises and specialists.

According to Boxall and Steeneveld the quality of HRM is a significant element in the performance towards achieving a firm's strategic objectives. However based on the old personnel management model Tenrose rarely engaged in formal employee training programs which Hr plan for principle financial group essay its organisational culture and management style as a traditional organisation rather than one which could be called a learning organisation.

Obviously the most important trends in terms of globalisation and developments in new technologies require Tenrose to compete internationally thus it is useful to consider human resource management strategically in a national context along with the organisational culture.

Building Corporate Culture and Leadership Leadership is defined as the process of influencing others in a manner that enhances their contributions to the realisation of group goals, Haslam, Due to the positive impact on other people's behaviour this concept is widely used in conceptualising strategic HR management.

However as a traditional textile manufacturer the management team in Tenrose tended to be demographically focused on such characteristics as gender, age and background in the composition of its employees.

The upper management team in one of its subsidiaries was composed completely of men while the production team were mostly women. In addition the management style rarely drew attention to creating leadership units among or in subsidiaries.

The changing external environment though has caused new challenges and shaped the nature of management styles in terms of leadership in Tenrose. At this stage the use of technology generated challenges correspondent to the pay levels of staff as well as within the information transformation process between management teams and employees.

In addition the pace of globalisation generates new demand for leadership in managing people from different backgrounds. In the case of Tenrose in one of its subsidiaries' management team had except for one Indian team member a team that was wholly Caucasian in contradistinction to the mix of employee backgrounds in production.

Therefore in order to take advantage of internationalisation in that Tenrose more and more cooperates with international partners it can be said to be essential for the human resource management team to adopt a leadership strategy and recruitment drive sensitive to diverse background within the company and its international partners.

The environment in which people work in not only refers to the physical entity but also includes intangible elements in terms of organisational culture. This can be defined as the pattern of basic assumptions that a given group of people has invented, discovered or developed in learning to cope with external adaptation to environments and internal integration of members, Schein, Following from this the concept of culture has been widely deployed in organisational theory as it is a key method of understandings people's value and performance within an organisational context.

Kahn argues that building an organization is a sustained process of re-establishing people's culture in terms of a shared sense of history and value system in order to generate acceptable behaviour followed by members of an organisation.

Therefore building a strong organisational culture is an essential part of the strategic HRM planning for Tenrose. Particularly the closure of Textile resulted in high anxiety levels among employees ranging from the management team to production staff.

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The different organisational cultures in different subsidiaries to some extent led to conflicts between management members in their transformation from old Textile managers with other local management teams.

As such then the leadership form and organisational culture were important elements of the organisational change process. The starting point in building organizational culture should always be the building of processes of communication. In considering the expanding and developing strategies exploited by Tenrose, the building up of a strong organisational culture and leadership style will play a vital role in adapting to revolutionary change and balancing the conflicts and problems arising out of these changes to the physical organisational architecture.

Building team work An organisation is composed of individuals who are organised in certain ways in order to achieve organisational objectives. However some organisations put stress on team working while others focus more on individual work activities, Brooks, The impact of globalisation has increased diversity within the workforce and the development of new technology requires a more effective model of team working for the company.

Additionally with the aim of creating innovations in new technological based economies companies have also begun to concentrate on Individualism in order to encourage creativity within employees, Nonaka, However this style in terms of organisational behaviour largely depends on the cultural context within which an organisation is situated.

Tenrose as a traditional UK manufacturer is characterised by high-dependent relationship among its employees both within subsidiaries as well as between different organisations. The success of Japanese companies who exploited team working in order to create competitive advantage has had an important influence on strategic HR management activities in UK companies.

This is because group work is defined as a security and protection of collective work, Brooks, The Principle Role of Financial Intermediaries Essay.

Hr plan for principle financial group essay

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Hr plan for principle financial group essay

HR Plan for Principle Financial Group ; Principle Economics ; Efficient Financial. Sodexo and Principle Financial Group Case Study Essay Sample. The demographics of organizations are rapidly changing as more growth occurs globally. What K Plan benefit do Principal Financial Group employees get?

Principal Financial Group K Plan, reported anonymously by Principal Financial Group employees. Work here in HR? Add a summary. Available to US-based employees (Change location) Principals has many loopholes in the K plan. Loopholes for /5(15). The way to rainy mountain summary shmoop w3resource sql exercises mystery shopper format psychology compare and contrast essay topics scad job portal scottish enterprise business plan template stay at home jobs the color of water identity.

Purpose of Strategic HR Planning A comprehensive Human Resource Strategy plays a vital role in the achievement of an organization’s overall strategic objectives and visibly illustrates that the human resources function fully understands and supports the direction in which the organization is moving.

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