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2586 results in Strategic management

Page 38 of 130

  • 5 - Workflow Analysis and Strategic Job Analysis

  • from PART III - Strategy Formulation
  • Feza Tabassum Azmi, Aligarh Muslim University, India
  • Book:
    Strategic Human Resource Management
    Published online:
    26 April 2019
    Print publication:
    23 May 2019, pp 127-154

  • Summary

    Chapter Overview

    This chapter focuses on discussing the concepts of workflow analysis and job analysis. It discusses the significance, purpose, and steps involved in workflow and job analysis. Furthermore, it carries out a discussion on the shift in concept and practice from traditional job analysis to strategic job analysis. Themes such as dejobbing, strategic job modelling (SJM), and competency mapping are discussed in the light of strategic job analysis.

    Learning Objectives

  • To get familiarized with the concepts of workflow analysis and job analysis

  • To develop an understanding of the need, significance, purpose, and outcomes of workflow analysis and job analysis

  • To understand the rationale of why and how traditional job analysis has evolved into strategic job analysis

  • To understand concepts such as dejobbing, SJM, and competency mapping in the light of strategic job analysis

    • OPENING STORY

    The Future of Work

    The world of work is undergoing a major process of change. There are several forces transforming it, from the onward march of technology and the impact of climate change to the changing character of production and employment, to name a few. In order to understand and to respond effectively to these new challenges, the International Labour Organization (ILO) has launched a ‘Future of Work’ initiative. The ILO understands the need to respond effectively to the world of work and ongoing changes in order to be able to advance its mandate for social justice.

    The Future of Work initiative is the centrepiece of the ILO's activities to mark its centenary in 2019.

    Future of Work initiative timelines

    2016: A broad framework is needed to give the Future of Work initiative the necessary structure and focus for concrete results to be obtained. In 2016, all ILO member states are invited to undertake national ‘Future of Work’ dialogues structured around four ‘centenary conversations’:

  • • Work and society

  • • Decent jobs for all

  • • The organization of work and production

  • • The governance of work

    • 2017–2018: In 2017, a high-level Global Commission on the Future of Work will be established. Its purpose will be to examine the output from the national dialogues and other input it may consider necessary. The commission will publish a report and recommendations in the course of 2018.

  • 10 - Strategic HR Evaluation

  • from PART V - Strategy Evaluation
  • Feza Tabassum Azmi, Aligarh Muslim University, India
  • Book:
    Strategic Human Resource Management
    Published online:
    26 April 2019
    Print publication:
    23 May 2019, pp 291-312

  • Summary

    Chapter Overview

    This chapter discusses the concept of strategic human resource (HR) evaluation. It identifies the need for measuring human resource management (HRM) activities and taking informed business decisions. Various approaches and techniques of HR evaluation are discussed. Methods of evaluation of an individual HRM subsystem as well as an HRM system as a whole are discussed in detail. The concept of HR analytics and its use in strategic HR evaluation is also highlighted at the end of the chapter.

    Learning Objectives

  • To understand the concept of strategic HR evaluation

  • To identify the various approaches and techniques of HR evaluation

  • To understand the metrics and methods of evaluation of individual HRM practices as well as the HRM system

    • OPENING STORY

    HR and Finance—Marriage on the Clouds

    The changing business environment is making cross-functional collaboration more important than ever before. However, no partnership could have a more immediate impact on corporate performance than finance and HR departments working together. Traditionally, the two have not really worked together. The fact is many HR professionals do not necessarily appreciate a balance sheet or hard accounting data. Finance professionals may not really understand the value of things like motivation and soft skills.

    However, things are changing. With the digitization of the economy and the emergence of analytics, finance and HR managers are coming together. With an eye on business transformation, both are now focusing on using business metrics and analytics to contribute to the bottom line. They are coming out of their cocoons and working in tandem. Just as the chief finance officer (CFO) helps the chief executive officer (CEO) lead the business by allocating financial resources, the chief human resources officer (CHRO) should help the CEO by building talent. The link between financial numbers and the people who provide productivity to reach those numbers should be inseparable. CHROs need to understand finance, and CFOs need to be more people-centric. When CFOs and CHROs work together, they can significantly impact the business.

    An Ernst & Young survey shows companies with high collaboration between HR and finance experience an increase in topline revenue, an increase of 10 per cent or more in operational cash flow, and an increase in employee productivity and engagement.

  • 1 - Concept of Strategic Human Resource Management

  • from PART I - The Framework of Strategic Human Resource Management
  • Feza Tabassum Azmi, Aligarh Muslim University, India
  • Book:
    Strategic Human Resource Management
    Published online:
    26 April 2019
    Print publication:
    23 May 2019, pp 3-38

  • Summary

    Chapter Overview

    In this chapter, we will discuss the meaning and concept of strategic human resource management (SHRM). Various models and schools of thought in the area of SHRM are presented. The nature and characteristics of SHRM are also discussed. The chapter also sketches a picture of the emerging human resource (HR) scenario and the changes taking place in the field of human resource management (HRM). The different types of HR roles are also discussed. In the end, the challenges facing new age HR departments are highlighted.

    Learning Objectives

  • To develop an understanding of the basic concept of SHRM and its different models and schools of thought

  • To gain insights into the changes taking place in the field of HRM and the consequent changes in the roles and responsibilities of HR managers

  • To understand the challenges that HR departments and HR managers have to face in this changing scenario

    • OPENING STORY

    General Electric's Journey to ‘Imagination at Work’

    John F. Welch, Jr., the iconic leader of General Electric (GE), gave new directions to the company when he took over as chairman and chief executive officer (CEO) in 1981. Welch embarked on an imposing challenge: building a revitalized ‘human engine’ to animate GE's formidable ‘business engine’.

    At that time, GE was already one of the world's largest corporations built around 14 distinct businesses—including aircraft engines, medical systems, engineering plastics, major appliances, NBC television, and financial services. Soon after he became CEO, Welch articulated GE's now-famous strategy of ‘number one or number two globally’.

    His programme had two central objectives. First, he championed a company-wide drive to identify and eliminate unproductive work in order to energize GE's employees. He developed procedures to speed up decision cycles, move information through the organization, provide quick and effective feedback, and evaluate and reward managers on qualities such as openness, candour, and self-confidence to create a lean and efficient organization. Second, and perhaps of even greater significance, Welch was instrumental in leading a transformation of attitudes at GE—to release ‘emotional energy’ at all levels of the organization and encourage creativity and feelings of ownership and self-worth.

  • 3 - Technology and HRM

  • from PART II - Context of SHRM
  • Feza Tabassum Azmi, Aligarh Muslim University, India
  • Book:
    Strategic Human Resource Management
    Published online:
    26 April 2019
    Print publication:
    23 May 2019, pp 80-108

  • Summary

    Chapter Overview

    This chapter deals with developing an understanding of how technology affects HRM. It specifically focuses on the trends in the nature of work vis-à-vis the growth of information and communications technology (ICT). It introduces the concept of electronic HR (e-HR) and highlights how various HR sub-systems such as recruitment, selection, training, appraisal, and compensation are getting transformed owing to the impact of IT. It also highlights how traditional organizational structures are giving way to more flexible e-enabled organizational forms.

    Learning Objectives

  • To understand the trends in the nature of work due to the influence of technological environment and more specifically due to ICT

  • To comprehend the impact of ICT on HRM sub-systems like staffing, training, appraisal, compensation, and employee relations

  • To comprehend the impact of ICT on HR culture and organizational structure

  • To examine the role that Internet and social media are playing in transforming HRM functions

    • OPENING STORY

    Kumbh Mela Goes Hi-tech

    From using artificial intelligence to building the largest temporary city in the world, the 2019 Kumbh Mela at the Indian city of Prayagraj, earlier Allahabad, is believed to be one of the biggest religious congregations. Spread over 3,200 hectares of land with millions of pilgrims taking dip in the holy water of the Ganges River, the Kumbh Mela is equipped with hi-tech facilities and modern gadgets.

    Hi-tech huts have been set up for seers and pilgrims. Over 1,000 CCTV cameras and artificial intelligence will be used by the Integrated Command and Control Centre of the police for crowd management. At the same time, they can also monitor anything that is suspicious. The police have acquired hi-tech bikes to handle emergencies. Stalls facilitating pilgrims with virtual reality experience have been set up. Social media is being deployed to keep citizens informed about the festival. Around 4,000 hotspots are being set up across the area for providing high-speed wi-fi. The administration has a fleet of 55 motorbike fire fighting system. A temporary hi-tech hospital with a capacity of 100 beds is brought up at the mela ground. In a first, a disease surveillance unit is put in place to keep an eye on the prevalence and pattern of diseases during the event. The government will deploy epidemic intelligence officers who would coordinate with medical units to keep Kumbh disease free.

  • 7 - Strategic Training and Development

  • from PART IV - Strategy Implementation
  • Feza Tabassum Azmi, Aligarh Muslim University, India
  • Book:
    Strategic Human Resource Management
    Published online:
    26 April 2019
    Print publication:
    23 May 2019, pp 205-231

  • Summary

    Chapter Overview

    This chapter focuses on the meaning and concept of strategic training and development. It discusses the concepts of organizational learning and unlearning as broad themes of strategic training and development. It highlights how learning and unlearning take place and the strategic issues concerning the two concepts. Further, it delves into a discussion on career planning and development as well as succession planning.

    Learning Objectives

  • To get familiarized with the concept of strategic training and development in contrast with the traditional concept

  • To understand the frameworks of organizational learning and unlearning and how they support the broad idea of strategic training and development

  • To develop an understanding of the concepts and strategies related to career planning and development as well as succession planning

    • OPENING STORY

    Barbie Doll's Journey

    She is close to 60 years old now, but continues to set new fashion trends, expressing the dreams of young girls. She is Barbie, the most popular fashion doll. Barbie was considered an icon of American culture. She is regarded as a role model who inspired young girls to become independent and self-reliant. Sales of Barbie merchandise are more than $1 billion annually. Mattel, the makers of Barbie, claims that approximately three Barbie dolls are sold every second. The doll was marketed as a ‘Teen-age Fashion Model’. Barbie dolls have appeared in various avatars—doctor, pilot, singer, artist, and much more. Barbie collectibles come out with a great line of dolls from around the world.

    Emerging Markets and India

    Mattel has been known for creating dolls that are culturally unique. However, with all the Western Barbies abounding, Asians seem to take the back seat in Barbie's world. Barbie did not start seeing Pacific Island until the release of the ‘Hawaiian Barbie’ in 1978 and ‘Oriental Barbie’ for Asians in 1981. These Barbies were exact replicas of the original with some variations in skin, hair, and eye colour.

    The 1990s saw the introduction of Barbies for the Indian market under the ‘expressions of India’ series. Barbies have their dresses recreated to depict women in traditional Indian dresses. The Soni Punjabi Barbie doll, a beautiful bride, is dressed in a salwar-kameez typical to north India. Sundari Gujarati Barbie is a doll that sparkles with the extravagant tradition of Gujarat.

  • 2 - Environment of SHRM

  • from PART II - Context of SHRM
  • Feza Tabassum Azmi, Aligarh Muslim University, India
  • Book:
    Strategic Human Resource Management
    Published online:
    26 April 2019
    Print publication:
    23 May 2019, pp 41-79

  • Summary

    Chapter Overview

    In this chapter, we shall learn about the nature and concept of business environment and its various components. Issues related to how the components of a business environment affect organizations and human resource (HR) policies and practices are discussed. Various trends and emerging dimensions of the business environment with relevance to human resource management (HRM) are also highlighted.

    Learning Objectives

  • To understand the concept and relevance of business environment

  • To identify the features and components of business environment

  • To understand in detail the external and internal environmental forces and their implications for HRM

  • To identify the emerging trends in the environmental forces and how they are likely to alter the HR context

    • OPENING STORY

    India's Economic Growth

    The national portal of the Government of India mentions that India has emerged as the fastest growing major economy in the world, according to the International Monetary Fund (IMF). It is the world's sixth largest economy by nominal gross domestic product (GDP) and the third largest by purchasing power parity (PPP). The Indian economy grew at 7.7 per cent in the first three months of 2018. India has one of the fastest growing service sectors in the world, with an annual growth rate above 9 per cent since 2001.

    Advantage India

    Major strengths of India are as follows:

  • • World's largest democracy with 1.2 billion people

  • • Stable political environment and responsive administrative setup

  • • Well-established judiciary to enforce rule of law

  • • Land of abundant natural resources

  • • India's growth will start to outpace China's within 3–5 years and, hence, will become the fastest-growing major economy with 9–10 per cent growth over the next 20–25 years

  • • India is coming up with investor-friendly policies

  • • India's economy is likely to grow five-fold in the next 20 years

  • • It has a large pool of skilled manpower with a significant English-speaking population

  • • India has a demographic dividend—it is a young country with a median age of 30 years

  • • India has a huge untapped market potential

  • • Progressive simplification and rationalization of direct and indirect tax structures

  • • Robust banking and financial institutions

  • 4 - Strategy Formulation and HRM

  • from PART III - Strategy Formulation
  • Feza Tabassum Azmi, Aligarh Muslim University, India
  • Book:
    Strategic Human Resource Management
    Published online:
    26 April 2019
    Print publication:
    23 May 2019, pp 111-126

  • Summary

    Chapter Overview

    This chapter focuses on strategy formulation in human resource management (HRM). The chapter delves with the role of human resource (HR) function in the strategic management process and vice versa. It highlights the importance of human resources to strategy. It also discusses the various approaches to integration of strategic planning and HRM and the factors affecting integration. The typology of HR systems in light of strategic issues is also discussed.

    Learning Objectives

  • To understand the role of HR function in the strategic management process and the role of strategy in HR function

  • To develop an understanding about the intrinsic importance of human resources to strategy

  • To comprehend the various approaches to integration of strategic planning and HRM and the factors affecting integration

    • OPENING STORY

    Rethinking the Role of HR

    The increasing emphasis on strategic HR and the need for HR departments to add value got even more evident when the call for change in the HR function was seen on the cover of July–August 2015 issue of the Harvard Business Review (HBR). With its subtitle It's Time to Blow Up HR and Build Something New. Here's How, the verdict was clear. However, this is not the first time that HBR has emphasized the need for HR function to reinvent. In fact, the pioneering work of Dave Ulrich that highlighted the changing roles of HR professionals, ‘A new mandate for human resources’, was published in the January–February issue of HBR in 1998. In his path-breaking article, Ulrich begins by asking ‘Should we do away with HR?’ He then goes on to opine,

    In recent years, a number of people have been debating that question. The debate arises out of serious and widespread doubts about HR's contribution to organizational performance…. There is good reason for HR's beleaguered reputation. It is often ineffective, incompetent, and costly; in a phrase, it is value sapping. Indeed, if HR were to remain configured as it is today in many companies, I would have to answer the question above with a resounding ‘Yes—abolish the thing!’ But the truth is HR has never been more necessary.

  • 9 - Employee Relations, Engagement, and Termination

  • from PART IV - Strategy Implementation
  • Feza Tabassum Azmi, Aligarh Muslim University, India
  • Book:
    Strategic Human Resource Management
    Published online:
    26 April 2019
    Print publication:
    23 May 2019, pp 268-288

  • Summary

    Chapter Overview

    This chapter deals with the idea of employee relations, engagement, and termination. It discusses the concept of employee relations and its evolution. Issues related to trade unions, collective bargaining, and employee participation in management are highlighted. The meaning and significance of employee engagement are then discussed along with the typology of engagement. Thereafter, the topics of retention and employee termination are covered.

    Learning Objectives

  • To get familiarized with the concept of employee relations and the shift in its approach

  • To understand the meaning and framework of employee engagement and the strategies to improve engagement

  • To develop an understanding of the concept of employee termination and identify ways of improving retention

    • OPENING STORY

    Industrial Relations Reforms in India

    The Government of India has unleashed labour reforms to give a fillip to the Indian economy by rationalizing the plethora of labour laws. This paves the way for the long-awaited and much-needed restructuring of industrial relations in India. This reform is in line with the central theme of the government to boost manufacturing for job creation through its ‘Make in India’ initiative.

    The Ministry of Labour and Employment has been taking steps for simplification, amalgamation, and rationalization of 44 central labour laws into four major labour codes—Code on Wages, Code on Industrial Relations, Code of Social Security, and Code on Occupational Safety, Health and Working Conditions. The government has taken several other initiatives as well:

    Legislative initiatives of Government of India

  • • Payment of Bonus (Amendment) Act, 2015: Eligibility limit for payment of bonus is enhanced from 10,000/- to 21,000/- per month.

  • • Payment of Wages (Amendment) Act, 2017: Allowed payment of wages to employees by cash or cheque or crediting it to their bank account.

  • • Child Labour (Prohibition and Regulation) (Amendment) Act, 2016: Provides for complete ban on employment of children below 14 years in any occupation or process.

  • • Maternity Benefit (Amendment) Act, 2017: Increases the paid maternity leave from 12 weeks to 26 weeks.

  • • The Employee Compensation (Amendment) Act, 2017: Seeks to rationalize penalties and strengthen the rights of the workers under the Act.

  • 8 - Performance Management and Compensation

  • from PART IV - Strategy Implementation
  • Feza Tabassum Azmi, Aligarh Muslim University, India
  • Book:
    Strategic Human Resource Management
    Published online:
    26 April 2019
    Print publication:
    23 May 2019, pp 232-267

  • Summary

    Chapter Overview

    This chapter discusses the concept of performance appraisal and performance management. The limitations of the traditional appraisal process are identified. It focuses on the need to move from performance appraisal to performance management. Further, the concepts of compensation and rewards are discussed. The difference between traditional compensation and strategic compensation is highlighted. Various types of strategic compensation systems are examined. Issues related to compensation of top-level executives are also discussed.

    Learning Objectives

  • To understand the concept and process of performance appraisal

  • To appreciate the need to move from performance appraisal to performance management

  • To understand the differences between traditional compensation and strategic compensation

  • To get familiarized with various types of strategic compensation systems

    • OPENING STORY

    Evolving Performance Management Paradigm

    Although performance management is a new concept, its origin can be traced back to many ancient civilizations and religious scriptures.

    The Pre-historic Times

    There is evidence that suggest that the first cave dwellers were handling issues of HR performance. The ancient Paleolithic men focused on selection of leaders, skill development, and so on.

    The Ancient Egyptian Philosophy

    Egyptians developed well-defined hierarchies with job descriptions. They deployed several time-saving performance management techniques, showing an understanding of what later evolved as time and motion study.

    The Babylonian Philosophy

    The famous leader Hammurabi prepared the first code of law and emphasized on learning and performance management.

    The Chinese Philosophy

    In ancient China, principles of people management were well developed. Confucius, the ancient Chinese thinker, focused on fair dealings vis-à-vis people and the role of a good leader in guiding people's performance.

    Ancient Indian Philosophy

    Indian scriptures are replete with ideas related to managing people. Valmiki, in his epic Ramayana, observed that high performers must get recognition. The Bhagavad-Gita recommends self-management, transformational leadership, and motivation for enhancing performance. Chanakya talked about incentive for performance in his treatise Artha-Shastra.

    The Hebrew Philosophy

    Hebrew history gives examples of leadership and performance management. Moses, the great leader, served as one of best examples of a participative human resource approach.

    The Roman Philosophy

    The Romans made use of many modern-day concepts like job descriptions, hierarchy with scalar chains of command, restructuring to enhance performance.

    Biblical Philosophy

    The Bible asks employers to be benevolent and value justice and equality. A manager must be honest so that workers reciprocate with hard work and higher performance.

  • 6 - Strategic Human Resource Planning and Staffing

  • from PART IV - Strategy Implementation
  • Feza Tabassum Azmi, Aligarh Muslim University, India
  • Book:
    Strategic Human Resource Management
    Published online:
    26 April 2019
    Print publication:
    23 May 2019, pp 157-204

  • Summary

    Chapter Overview

    Job analysis identifies the duties and human requirements for each of the company's jobs. The next logical step is to decide which of these jobs need to be filled and how to fill them. This entails carrying out human resource planning (HRP). It involves linking business strategies to future manpower needs, forecasting labour demand and supply, and laying down the human resource (HR) plan to meet the labour needs. Thereafter, staffing is carried out, which typically involves recruitment, selection, and placement. This chapter deals with all these issues.

    Learning Objectives

  • To understand the concept of strategic human resource planning

  • To identify the steps involved in strategic human resource planning

  • To understand the process of staffing involving recruitment, selection, and placement

  • To develop an understanding of strategic staffing issues

    • OPENING STORY

    Strategic Manpower Planning in Indian Armed Forces

    Human Resource Development is an essential command function and, in this context, it needs to be understood that the soldier of tomorrow has to be an innovator who can combine imagination and knowledge with action.

    —Indian Army Doctrine (2004)

    Some time back, the Ministry of Defence, India, indicated that the Indian Armed Forces were short of 9,845 officers at the level of majors/lieutenant colonels and equivalent ranks. These figures indicate that the army was short of 7,899 officers, followed by the navy with 1,499 officers and air force with 357 officers. Several questions arise: Why is there a shortage of officers? Why are there impediments to lateral induction of service personnel into the armed forces? How can the services provide better promotion avenues or reduce its alarming suicide rates? All these issues directly or indirectly concern the realm of ‘strategic manpower planning’.

    Manpower needs of the armed forces are more complex than that of the corporate world. The requirement of the armed forces to commit soldiers to extreme conditions necessitates a deep understanding and knowledge of human capital management. Human capital development in the armed forces is an extremely vital issue because the strength of the organization has always been its manpower. It has been aptly said that platforms and organizations do not defend the country, people do; units and formations do not sacrifice and take risks for the nation, people do!

Page 38 of 130