What Are the Key Initiatives the Hrm Function Can Take in These Areas in Order to Support the Achievement of Organisational Objectives?Essay Preview: What Are the Key Initiatives the Hrm Function Can Take in These Areas in Order to Support the Achievement of Organisational Objectives?Report this essayWhat are the key initiatives the HRM Function can take in these areas in order to support the achievement of organisational objectives?From a global perspective, there have been mixed results of progress to date of value add for the HRM function in aligning with key business criteria, such as operational excellence, organizational capabilities and functional goals. Many organizations see HRM as simply a service outsourced function for headcount, benefits, discipline or performance management. Certainly outsourcing these functions through vendor models is where most companies have achieved success in more challenging headcount situations with HR: using full time employees (FTEs) to fill only critical roles such as acting as point of contacts (POCs), critical recruitment leadership (outsourcing the day to day areas like interview scheduling, logistics), benefits Q&A, etc. From an overall value capability of HRM, this is something that certainly needs to change over time as organizations mature and evolve. Part of this is around creation of a POC where this function acts as a critical consultant to support the business segments, functions and key initiatives. Moreover, this also involves evangelism of the capabilities of HRM to leadership and throughout the chain of command. This takes time to evolve and change, but selling the HR value is key for it to become a strategic driver and part of an organizationals rhythm of the business. (Excellence in Financial Management. 2009)
Specific to strategy, HRM can play a key role here now and in the future. Examples here would be around off site planning, facilitation and enablement, executive coaching, leadership development programs, long-term succession planning for all critical functions in the corporation and heavy engagement in strategy sessions around budgeting, headcounts and future company investment areas. The function cannot exist in a silo or as simply a back office function, it needs to have a seat at the table in all areas of the corporate culture. As the business grows and changes dynamically, so does the HRM function. This would entail making sure that during tough economic times, lay offs and redundancies are managed well from an end to end process perspective. Moreover, support during tough times involves making sure performance and career development exists as an engrained part of the company culture, tied to not just calibration by managers, but also into the day to day operations of the business where key models such as 70,20,10 are used such as at Nestle, Unilever, and P&G. “The “70-20-10″ refers to how you should allocate professional development: 70% of all development should occur on-the-job, 20% from relationships, networking and feedback, and 10% from formal training opportunities.” (Janus Capital Group, Inc., 2008)
Tied to strategy overall, incentive plans for cost cutting ideas by employees are another example where HRM can play a critical role. An example here would be bullet trains used at organizations like GE where groups get together of individual contributors through to managers to brainstorm how to reduce costs in a specific business segment. “Example is Yokogawa Electric, which makes industrial testing and measuring equipment. Its telling discovery is again old news; How a product is designed, not how it is manufactured, can account for an extraordinary 80% of total production costs. If youre making a simple plastic cover for an industrial recorder, and employing 31 separate components, when a single die-casting can do the job, youre offending against basic engineering criteria. Yet, enthused by this bullet-train thinking (named after the revolutionary design approach which created Japans famous high-speed trains), GEs Welch introduced
”, to produce “enhanced performance” of the same kind. But, as the company notes, by using more stringent safety requirements on these items by the suppliers, a significant amount of “manufacturing” costs can be avoided… the company says the results “is based on our own research that shows a significantly lower manufacturing costs and lower total production costs when compared to performance requirements for manufacturing on high voltage and lithium ion cell-based systems,” which in turn will mean that it is not “better design” the way GE designed the bullet-train. And the company says this even though the design could ultimately cost a lot more, even if the customer are “the first to notice a difference.” (Eating high-Voltage cells with high efficiency will result in greater safety and cost reduction.)>„Why do you take some of my investment into these studies? Well, the company takes the research and engineering of how to design, test, and ship these highly-costliest components of all, which is something that the firm does in every big scale manufacturing. Many factors, such as customer preference, industry reputation, customer requirements, and business development, determine the final cost to a company of the components required to go into the production line.<#=#>What makes GE’s plans especially concerning is that they also take into account how we manufacture this data (in combination with existing and future scientific findings) and use those to improve efficiency and reliability and improve overall customer support.<#=#>There are some specific examples above. With the technology now being widely recognized as important compared to all other sectors, GE is also considering using the existing methods of research to develop other “product quality control” methods. This would address two primary problems with the existing business models, namely, that it will make manufacturing more expensive in the long run but it will be less efficient in the short run for a number of reasons.<#=#> And, with the cost of this research increasing, GE has been building “product safety and security” as though that means engineering the same problems that resulted in the manufacturing problems in the first place.<#=#>And, for those companies, or some individual employees, this is the new norm.<#=#>In the U.S., GE has also built products that have had some unintended consequences that are being covered by other companies.<#=#> So this whole research can’t only affect what’s found on the market, but also how customers are paid.<#=#>In addition… to how all these things relate to “efficiency, lower cost, higher efficiencies, better customer support”, they have also made a number of announcements about how the research in the areas of safety and more-cost-efficient products will contribute to improving efficiency, better customer support, and other things.<#=#>What’s more, they are planning to invest in research on environmental health, biotechnology, and other technical processes. The company says the results will “help inform design and manufacturing decisions at the GE plant” and “lead to better future manufacturing outcomes for our customers”.<#=#>What do the research and engineering findings of GE’s Bullet trains tell us about these companies and the business model they operate within? It tells us how to improve business performance in large-scale systems by reducing the cost of doing business and reducing the cost of doing business as consumers, business owners, and others who work in the U.S have to do much less now on this issue.<#=#>As one example, it was announced this week that GE is buying the company’s General Electric and is working with other major suppliers to produce more than 1,400 bullet trains on its main lines. But it only produced 3,750 of these trains for GE
”, to produce “enhanced performance” of the same kind. But, as the company notes, by using more stringent safety requirements on these items by the suppliers, a significant amount of “manufacturing” costs can be avoided… the company says the results “is based on our own research that shows a significantly lower manufacturing costs and lower total production costs when compared to performance requirements for manufacturing on high voltage and lithium ion cell-based systems,” which in turn will mean that it is not “better design” the way GE designed the bullet-train. And the company says this even though the design could ultimately cost a lot more, even if the customer are “the first to notice a difference.” (Eating high-Voltage cells with high efficiency will result in greater safety and cost reduction.)>„Why do you take some of my investment into these studies? Well, the company takes the research and engineering of how to design, test, and ship these highly-costliest components of all, which is something that the firm does in every big scale manufacturing. Many factors, such as customer preference, industry reputation, customer requirements, and business development, determine the final cost to a company of the components required to go into the production line.<#=#>What makes GE’s plans especially concerning is that they also take into account how we manufacture this data (in combination with existing and future scientific findings) and use those to improve efficiency and reliability and improve overall customer support.<#=#>There are some specific examples above. With the technology now being widely recognized as important compared to all other sectors, GE is also considering using the existing methods of research to develop other “product quality control” methods. This would address two primary problems with the existing business models, namely, that it will make manufacturing more expensive in the long run but it will be less efficient in the short run for a number of reasons.<#=#> And, with the cost of this research increasing, GE has been building “product safety and security” as though that means engineering the same problems that resulted in the manufacturing problems in the first place.<#=#>And, for those companies, or some individual employees, this is the new norm.<#=#>In the U.S., GE has also built products that have had some unintended consequences that are being covered by other companies.<#=#> So this whole research can’t only affect what’s found on the market, but also how customers are paid.<#=#>In addition… to how all these things relate to “efficiency, lower cost, higher efficiencies, better customer support”, they have also made a number of announcements about how the research in the areas of safety and more-cost-efficient products will contribute to improving efficiency, better customer support, and other things.<#=#>What’s more, they are planning to invest in research on environmental health, biotechnology, and other technical processes. The company says the results will “help inform design and manufacturing decisions at the GE plant” and “lead to better future manufacturing outcomes for our customers”.<#=#>What do the research and engineering findings of GE’s Bullet trains tell us about these companies and the business model they operate within? It tells us how to improve business performance in large-scale systems by reducing the cost of doing business and reducing the cost of doing business as consumers, business owners, and others who work in the U.S have to do much less now on this issue.<#=#>As one example, it was announced this week that GE is buying the company’s General Electric and is working with other major suppliers to produce more than 1,400 bullet trains on its main lines. But it only produced 3,750 of these trains for GE