Global Staffing Strategies A rational and practical approach to recruitment in an organization is offered when using staffing strategies to guarantee the effective association connecting strategic and human resources planning, which mirrors the company’s values and vision. The organizations goals influence the staffing strategy, which in turn influences the outcome. The staffing strategy provides the outline for key decisions regarding staffing the company, and a framework for all human resources policies and programs. This paper will illustrate a staffing strategy designed for Ben Franklin Financial during the acquisition of NorAm Life, headquartered in Edmonton, Canada. The staff meeting held to discuss the transition, with the associates …show more content…
Ben Franklin Financial has been providing consumers with a full range of financial services for the last 150 years. The company has evolved a great deal over the years and currently provides 401k plans, 529 college savings plans, and mutual funds. Our 401k plan consultants and financial advisors help to design a retirement plan specifically suited to meet each customer’s needs. The 529 college savings plan is a multi-managed platform supported by several investment professionals. We offer four investment strategies with 20 investment options. Our mutual funds are also professionally managed investments, offering diversification, and liquidity. We have 10 independent investment management leaders. Over the years we have improved our product line and enhanced our knowledge and expertise in the financial plans we offer to ensure we have the best products and investments available. Over the past year the state of the economy has created a need for Ben Franklin Financial to examine our current strategy. The decision to acquire NorAm Life, and do business under the company name of Ben Franklin Financial has been made official. NorAm Life will bring many new products and solutions to our current product …show more content…
To be successful we have devised a staffing strategy to make sure we have the most experienced, educated, and qualified team possible to assist our customers. This meeting will explain in detail the steps of the staffing strategy and the timeline in which you can expect the steps to occur. I want you all to know what to expect when, and I plan to answer all of your questions during this
As such, they found it important to centralize the staffing initiative in order to maintain the unique corporate culture created in the beginning. Every one of these strategies would be focused on centralizing staffing, bringing in the best possible employees, and retaining each on a high level. Human Resource and Staffing Strategy When developing a strong and scalable human resource and staffing strategy, taking many factors into account is of the utmost importance. As reported by Olian and Rynes (1984) “the possibility that organizational characteristics like structure, size, and strategy may influence staffing” (p. 170).
Lengnick-Hall M.L.; Lengnick-Hall, C.A.; Andrade, L.S.; Drake, B. 2009. “Strategic human resource management: The evolution of the field.” Human Resource Management Review, 19, pp. 64-85.
Strategic workforce planning is the first component of human resources management (HRM) from which all other HR activities are derived from and flow out of. It is based on anticipated HR requirements from the perspective of the present HR environment. This requires a proactive posture, analyzing internal and external factors, to determine the most appropriate responses to future needs. Additionally, when formulating long-term proactive plans, an element of flexibility must be
(Advanced Auto Parts, 2016) The company's idea of making their stores successful begins by providing knowledgeable and friendly staff to help make the customer's shopping experience as fast and as pleasurable as possible. The staff receives the education and experience they need to help the company thrive in the market. The better the staff is at their job and the more knowledge they have to do the job, the more profitable the company can be. This is one step in following the mission of the business and helping to expand the
In 1984, Mansueto founded Morningstar Inc., which provides independent investment research to individuals, financial advisors, and institutional advisors(Ferrell, Ferrell, & Hirt, 2015). Although they provide these services to financial and institutional advisors, their main focus is on individual investors. Mansueto found that the average investor often finds investing very confusing because there are a wide variety of investment choices. There are three types of investment choices: mutual funds, stocks, and bonds. Each of these three types of investment have thousands of options for investors to choose. A mutual fund is a company that pools money from many investors and invests the money in securities such as stocks, bonds, and short-term
" This global London-based mining and mineral company was severely impacted by the global recession in 2008. Such an impact forced unprecedented workforce reductions worldwide and decentralized HR management had to be brought in under a single umbrella to ensure an orderly and efficient system that would support the organization’s future productivity."( Case Study OneRedesigning HR HRMG 5000 - Student Simple). Human resources have a strategic significance if managed efficiently and productively. The company revamped and managed its HR functions in a manner so as to achieve the strategic goals of the
This particular case is centered around the Human Resources strategy that was implemented by Johnson & Johnson in 1997. This strategy includes many key aspects of corporate culture, leadership and global strategy integrated into one single global human resources program. This program allowed Johnson & Johnson to diversify their current employees, raise the standards for future employees, redefine the standards of leadership within J&J and improve global management overall.
Many practice and organizational changes require staff to think in new ways, to engage in new behaviors, and to form new relationships within the
...greater number of people in an economic, efficient, and effective manner. This paper has provided a background and understanding of employment recruiting, the styles, methods, and tools available to allow customization of interviewing methods applicable to the situation or needs of the organization or project. An overview of the creative large scaled employee recruitment project Borgata Hotel and Casino notably made history and a study of best practices in employee hiring, recruiting and interviewing process that enhances corporate strategy.
In the 1980’s, the birth of a new concept called ‘Human Resource Management’ was born. This trend comes after an intense period of Taylorisation, Fordism and now, McDonaldisation. HRM came to counter balance these trends and to consider the concept of the Man as a Man and not as a machine. For the last several decades, the interests of companies in "strategic management" have increased in a noteworthy way. This interest in strategic management has resulted in various organizational functions becoming more concerned with their role in the strategic management process. The Human Resource Management (HRM) field has sought to become integrated into the strategic management process through the development of a new discipline referred to as Strategic Resource Management (SHRM). In current literature, the difference between SHRM and HRM is often unclear because of the interconnections linking SHRM to HRM. However, the concepts are slightly different. Thus, we can ask, what is strategic human resource management? What are the main theories and how do they work? What do they take into account and how are they integrated? What are the links between SHRM and organization strategy? In order to answer to these questions, we will precisely define strategic human resource management, followed by a look at the different approaches built by theorists, and finally, we will see the limits between the models and their applications depending on the company’s environment. Discussion Strategic Human Resource Management: definition Strategic human resource management involves the military word ‘strategy’ which is defined by Child in 1972 as "a set of fundamental or critical choices about the ends and means of a business". To be simpler, a strategy is "a statement of what the organization wants to become, where it wants to go and, broadly, how it means to get there." Strategy involves three major key factors: competitive advantages (Porter, 1985; Barney, 1991), distinctive capabilities (Kay, 1999) and the strategic fit (Hofer & Schendel 1986). Strategies must be developed with a relevant purpose to sustain the organizational goals and aims. SHRM is one of the components of the organizational strategies used to sustain the business long-term. SHRM defined as: “all those activities affecting the behaviour of individuals in their efforts to formulate and implement the strategic needs of the business. (Schuler, 1992)” or as “the pattern of planned human resource deployments and activities intended to enable the firm to achieve its goals.
As the newly promoted manager for Morningstar, Inc. and with the agency considering dropping stocks and bonds and focusing solely on mutual funds, I would have to think about the prospect of this venture and do some research of the agencies financial status in order to be able to thoroughly analyze this undertaking.
Our job is to train the wait staff to help improve profits by encouraging customers to purchase the following items: cocktails
Introduction A comprehensive Human Resource Management Strategy plays a vital role in the achievement of an organisation’s overall strategic objectives and visibly illustrates that the human resources function fully understands and supports the direction in which the organisation is moving. A comprehensive HRM Strategy will also support other specific strategic objectives undertaken by the marketing, financial, operational and technology departments. In essence, an HRM strategy’s aim should be to capture the ‘people’ part of an organisation and its medium to long-term projection of what it wants to achieve, ensuring that. It employs the right people, those have the right mix of skills, employees show the correct behaviours and attitudes, and employees have the opportunity to be developed the right way.
Profile A highly qualified, results-oriented professional with over 20 years of extensive experience in Reception/Customer Service. Throughout the course of my career, I have steadily acquired core skills and capabilities that are readily transferable to any Reception/ Administrative role. I have been consistently recognised for my ability to handle multiple challenges effectively as well as adapting immediately to dynamic work environments and embracing technological advancements. As a dedicated and self-motivating employee, I am committed to seeking challenging roles where I can firmly establish myself as an integral part of organisational operations. Skills and Attributes • Solid organisational, administrative and management skills;
Early exposure inspires big dream. My experiences of managing my monthly scholarship allowances had confirmed my interest in finance and my goal to become a fund manager. After successfully made a huge return from my early investment, my family decided to loan me more money to invest in stock market and some other assets classes such as bond and m...