Business Finance Homework Help

Overview: This milestone is designed to begin a critical analysis applying knowledge gained within the course. This short paper assignment is the first step in the analysis of the company that will become your final project. For the final project, you will review the human resource management (HRM) in an organization through a real scenario. This case study will give you the opportunity to explore various roles and processes within the human resources profession. A key skill for any professional working in human resources is the ability to develop and implement processes that align with a company’s strategic plan and mission.

Begin by reading the first 13 pages of the case study, A.P. Moller-Maersk Group: Evaluating Strategic Talent Management Initiatives (up to HR-Customer Initiative at Maersk), located in your Harvard Business Review Coursepack.

Start your short paper by briefly answering the following questions:

1. Explain why the human resource function should be aligned with an organization’s strategic plan (use ideas from the Module One discussion on this topic).
2. Explain how current global conditions in Maersk’s industry impact human resource management practices within this organization (use ideas from the Module One discussion on this topic).

Then, using the material on recruitment strategies provided in this week’s lesson and the case study, address the following:

1. Compare and contrast recruitment and selection of internal versus external candidates in general.
2. Describe how Maersk has recruited and selected new employees who were aligned with the organization’s vision and goals over the years.
3. Assess the effectiveness of its recruitment process and determine what changes if any you would recommend to improve employee success andretention.

Guidelines for Submission: Your submission should be 2–3 pages in length and double-spaced using 12-point Times New Roman font. Be sure to list your references at the end of your paper.

In Module One, you read about the six roles that HRM professionals must fill if they are to be strategic partners in their organizations. Each of these roles affects how HR planning and staffing are conducted. For example, to effectively plan for the organization’s human capital needs, HR leaders must be knowledgeable about the business’ different functional areas, the business’ strategy and customers, and trends affecting the business. They need to be innovative in designing recruitment and retention methods, and they must be focused on building the organization’s capabilities in key areas. Technology will continue to play an enormous role in HR planning and staffing, and HR leaders must be credible if they are to put forth their ideas and plans successfully. In this module, you will learn about a foundational tool HR practitioners use: job analysis.

Job analysis is the systematic study of a job to determine which activities and responsibilities it includes, its relative importance to other jobs, the personal qualifications necessary for performance of the job and the conditions under which the work is performed (Fiester, 2013, para. 1).

Job analysis is foundational because it is used in virtually all HRM functions including recruitment, selection, training and development, performance appraisal, compensation, safety and health, and employee relations. From a job analysis, both the job description and the job specification are written.

(Management Study Guide, 2013)

Until HR practitioners have this information about every job in the organization, they cannot plan or staff successfully. To learn more about the role of job analysis in human resource planning, view this video on human resource planning.

– The captioned version of this video may be accessed in the following link: OL-211: Episode 61: Human Resource Management: Human Resource Planning (CC)

Another topic covered in Module Two is recruitment strategies. There are two ways organizations fill openings when they occur: they can recruit and promote from within their existing employee base, known as internal recruiting, or they can hire individuals from outside the company, referred to external recruiting. There are pros and cons with each method and a time and place for each one. In general, companies fill the lowest levels of positions with people outside the organization and then develop and train internal staff so they can be promoted into higher-level positions.

But there are legitimate exceptions to this general practice. For example, in this brief video, Risks of Hiring Internally, Gerry Czarnecki shares why it may be best for an organization to look externally versus redeploying an existing employee to fill an opening.

– The captioned version of this video may be accessed in the following link: OL-211: Risks of Hiring Internally (CC)

A common belief amongst many hiring managers is that it is a sound practice to hire the best possible candidate the company can attract. HR leaders recognize that while competencies are important, a more reliable predictor of success is fit in the job. Enhancer CEO Ulf Lindberg explains in this short video why it is not always ideal to hire the most capable person you can find.

– The captioned version of this video may be accessed in the following link: OL-211: Myth: When Hiring Externally, Hire the Individuals with Highest Capability Possible (CC)

Another important concept to consider when addressing HR planning is succession planning, “the process of identifying, developing, and tracking talented individuals so that they can eventually assume top-level positions” (Snell, Morris, & Bohlander, 2015, p. 58). Succession planning ensures that when openings occur, trained individuals will be on staff and ready to fill the roles. It gives up-and-comers a vision for the future and a concrete goal for which to strive. Yet while succession planning appears to be time well spent, it is often overlooked by organizations large and small. There are several reasons for this, including:

• Too much emphasis on top-level positions only, leaving lower-level employees, the bulk of the workforce, with no place to go and no plan to get there
• A static succession planning process that creates a plan and then tucks it away in a drawer until next year’s review
• The inability of organizations to transition older, senior staff out of their roles and into retirement (Leonard, 2015a)

If you own or would someday like to own your own business, succession planning will be essential to sustain what you have created. Many small business owners are too engrossed in daily operations to think beyond their immediate priorities to what the future will bring. The U.S. Small Business Administration reports that two-thirds of family-owned businesses do not survive a leadership change (Leonard, 2015b). This is a startling statistic given that emotion tends to prevail over business needs in family-run companies, and there is often a strong desire for a child or even a grandchild to take the reins. If the business does not employ a trained HR staff person, it may be best to hire an outside consultant to lead the succession planning effort, advises Henry Hutcheson, founder and president of the consulting group Family Business USA (Leonard, 2015b).

For more on the process of succession planning, view this video presented by Tim McConnell, an HR strategist with McConnell Consulting Ottawa.

– The captioned version of this video may be accessed in the following link: OL-211: Succession Planning HR Strategy (CC)

References

Fiester, M. (2013, February 21). Performing job analysis. Society for Human Resource Management. Retrieved from http://www.shrm.org/templatestools/toolkits/pages/…

Leonard, B. (2015a, February 18). Some executives doubtful succession plans really work. Society for Human Resource Management. Retrieved from http://www.shrm.org/hrdisciplines/orgempdev/articl…

Leonard, B. (2015b, March 17). Create a succession plan that works. Society for Human Resource Management. Retrieved from http://www.shrm.org/hrdisciplines/orgempdev/articl…

Management Study Guide. (2013). Job description and job specification. Retrieved from http://managementstudyguide.com/job-description-sp…

Snell, S., Morris, S., & Bohlander, G. W. (2015). Managing human resources. Australia: Cengage Learning.

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