About Cipla Cipla, incorporated in 1935, is a global pharmaceutical company whose goal is ensuring no patient shall be denied access to high quality & affordable medicine and support. Mission: Cipla’s mission is to be a leading global healthcare company which uses technology and innovation to meet everyday needs of all patients. HR at Cipla HR at Cipla has evolved primarily in the last 2 to 3 years. Before that, it was more a personnel administrative role where business would make certain demands which would be fulfilled by the HR department. HR wasn’t leading any of the initiatives. The People’s department existing before the incorporation of the HR department concentrated more on administrative jobs (which is also very important as it …show more content…
Our policy is to reward the greatest contributors and recognise employees who evolve their skills to enhance their individual contribution to our success • Aligned – reward programmes and practices are transparent and focus on ensuring alignment at several levels Business alignment - reward programmes take into account the common and business-specific skill/performance requirements across our various business units. Country alignment - across all the countries where GSK operates, reward is geared at meeting the nees of its geographically diverse workforce and enabling them to live out our mission to do more, feel better and live longer. Individual alignment - individual objectives are set and reviewed annually to ensure employees have a clear understanding of the link between the business value they deliver and their own reward. TotalReward is how GSK will reward the employee for his contribution to its business. It's more than just a salary – it rewards high performance, invests in his development, helps him to save for the future, and boosts his health and wellbeing. TotalReward consists
Proposed Mission Statement: At CVS Caremark our mission is to provide quality products and services through our pharmaceuticals and consumer products. We strive to be the number one provider in the United States by investing not only in our company and technological advances but also in the communities in which we serve. Whether our customers are new to this world or our veterans, we know that our company can provide them with the newest and most effective products and services, while promoting the healthy communities in which they live. Through our valued employees, CVS is able to provide quality services and quality products.
Overall, the score of the article is a 95 out of a 100 because the author, Carol Patton was able to lure me into reading her entire piece. Additionally, after reading the article, I felt that I gained a bit of knowledge on the importance of reward programs and how it should be a “must have” in the work environment.
Citicorp Case Analysis 1. What is the difference between a. and a What is the difference between primary and secondary capital? What is relevant to this case? Primary capital consists of common stock, perpetual preferred stock, surplus, undivided profits, mandatory convertible instruments (debt that must be convertible into stock or repaid with proceeds from the sale of equity), reserves from loan losses, and other capital reserves. These items are treated as permanent forms of capital because they are not subject to redemption or retirement.
“Hr is shifting from focusing on the organisation of the business to focusing on the business of the organisation” (Zulmohd 2011). David Ulrich points out four distinctive roles of HR which makes the organisation most effective and produce competitive advantage. He planned to change the structure of HR function and build HR around roles. The four key HR roles identified by Ulrich, one HR business partner/strategic partner – aligning HR and business strategy which plays an important role in setting strategic direction. It builds strategic relationship with clients and strategically manages the development of the workforce. The second key role is administrative expert which creates and must deliver effective HR processes made to tailor business needs. It also involves managing people and HR related costs. To continue to the third key role, change agent which understands the organisations culture, and takes the responsibility to communicate those changes internally and gain its employees trust. The final key role identified by Ulrich is employee advocate which is a core in HR role represents employees and helps to improve their experience, protect employees’ interests and confirm strategic initiatives are well balanced. Employee advocates must also “ensure fair, ethical and equitable people processes and practices.” “David Ulrich’s HR Model is about defining the HR roles and
...xamples was at Dupont’s fibers division, which employed approximately 20,000 people (Masternak). The plan’s designers intended to develop a “program to reward employee contributions, in the belief that sharing the rewards as well as the risks of the division’s financial performance would help the business succeed in the market place”(Masternak).
The Human Resources department is dedicated to hire and build an excellent team with a great teamwork and leadership. As one of the most important strategies of the business is the innovation of their products, it is needed people who can add value to the company through its diversity, innovation and entrepreneurial spirit, in a competitive and fun environment.
The need for intrinsic rewards at the Fit Stop is moderate. It is a justifiable reward for some, but in most cases, is not the sole purpose that people are employed with The Fit Stop. The need for extrinsic rewards is much higher than the need for intrinsic rewards due to all of The Fit Stop’s employees being full-time. Compensation will play a role in The Fit Stop because of its long hours, need for some skilled workers, and because all of the employees are
Rated as the best place to work in the United States in 2009, it has the best mix of rewards (Cook, 2012). The founders of Google believed that in order to attract the best talent, they had to provide an environment where people would want to come to work, have fun, dream big and get rewarded for hard work (Cook, 2012). Along with standard benefits, Google provides a fun environment with which to work including dining facilities, gyms, laundry rooms, massage rooms, haircuts, and carwashes to just name a few. Providing a mix of both reward types, Google understands that many humans are not motivated by pay incentives alone, and believes in administering rewards and a good company culture is vital to company success (Cook, 2012). According to Cook (2012), Google’s intrinsic rewards are no real hierarchy, tiny work groups, and purpose. They do not rely on a standard hierarchy, but instead a structure that is flat to maximize creativity, which keeps employees engaged and gives a feeling of accomplishment. Having no official channels, ideas can flow within groups; they focus on multiple smaller workgroups that may have a project manager overseen by committees (Cook, 2012). Intrinsic rewards are when you want to do something. Another aspect of Google utilizing this theory is the fact if a Googler wants to work with another team, he or she can switch working teams anytime
It seems that HRM is so crucial to the organization, for what it does has nearly covered all aspects of the business – from strategic planning to the training and development, but unfortunately, its importance has not been accepted by everyone. As proposed by Morton, C, Newall, A. & Sparkes, J. (2001) there are three different views of HR function within the...
HR department originated and developed in the same method as other areas of a business. Just as jobs continue to be created as we continue to evolve as a civilized race, it is by that same manner that the human resources department came to be.
Incentive reward engagement offers a win-win situation for the employees and the company. Kelleher believes that incentive is a form of recognition and builds engagement through company’s and employee’s obligations towards a common goal (2014). The company has a “Growth Incentive Scheme” for the production workers. Special monetary incentives are provided should the workers achieve the monthly output target. Through the rewards, employees feel motivated towards their work and thus, contribute towards the company’s
In large organisation, competition is not only in the market for goods and services but also for the quality of employees. As such, a large organization can only become attractive to the most skilled and high quality workers if it has an effective compensation and benefit plan. The key purpose of an effective compensation and benefit system is to provide employees with the right rewards for their work and right behavior in the workplace. Typically, organizational success is determined by the quality of employees an organization has. In turn, the organization can only attract such quality workers and maintain them through effective compensation and benefit
performance appraisals and broader performance management interventions. Since the 1970s, goal-setting has been used as the core of management by objectives (MBO) programs. In the last two decades, many programs and systems similar to MBO have been developed and proven their effectiveness through the productivity measurement and enhancement system or programs based on the balanced scorecard approach. [2]
Changing Roles. Traditionally, HR has been an administrative position-processing paperwork, benefits, hiring and firing, and compensation. However, recently HRM has moved from a traditional to a strategic role, the emphasis is on catering to the needs of consumers and workers. Before, HR was seen as the enemy and employees believed that HR’s main purpose was to protect management. Now, the position requires HRM to be more people oriented and protect their human capitol, the staff. In addition, human resource management has to be business savvy and think of themselves as strategic partners in the 21st century.
Whether an organization consists of five or 25,000 employees, human resources management is vital to the success of the organization. HR is important to all managers because it provides managers with the resources – the employees – necessary to produce the work for the managers and the organization. Beyond this role, HR is capable of becoming a strong strategic partner when it comes to “establishing the overall direction and objectives of key areas of human resource management in order to ensure that they not only are consistent with but also support the achievement of business goals.” (Massey, 1994, p. 27)