HRM Assignment: How HRM Helps in Achieving Organizational Goals?
Question
Task:
HRM assignment task: How can HR Analytics are used for below reason?
1) Saving money by predicting who will quit
2) How to reduce the employee
3) How to retain
4) Achieving optimum staffing level
Write applications of the above mentioned points using relevant case studies
Answer
Introduction to the theme of HRM assignment
The department of Human Resource Management of an organisation always evaluates the effectiveness of selection strategies and recruitment for the organisation. The HRM department always plans for the organisation’s growth and analyses critical strategic management for the company along with managing the training programme for new employees. This department motivates the worker for their job and provides a new plan for productivity and economic profit. The HRM department is always working to develop the company and encourage the employees and fresh talent to reach their goals and full potential (Cassell, 2017). The HRM department is a very important planning partner for any organisation in any nation.
1. Saving the business money
The predictive analysis is a vital new trend in the Human Resources Management department of an organisation. The different tools of recruitment can predict the increment status of a company, high performers and the workers who are expected to leave the job. The predictive analysis can predict the upcoming situation and suggest it along with saving money. This strategy involved different statistical tools and technology. The HR department goes through the historical outcome and calculate the present situation and recognise the employee who is about to leave the organisation while providing an idea to save the economical hazard (Predictive Analytics in Human Resources | AIHR Analytics, 2020).
The predictive strategy can assist to reduce the turnover rate and provide some ideas to the organisation for whether the new employee is applicable or not for the direct recruitment effort (Phillips, Phillips & Smith, 2016). Barney Cools is a famous clothing brand that also uses the predictive analytic tool helping the company for a better prediction about new trends in the market, consumer interactions and some other situations. This HRM department of tBarney Cools uses this prediction analysis and strategies for engagement, development of leadership, hiring new employees and the managers can use this technique for improving retention with workers. The prediction of an HR department ascertains about the workers who might leave the organisation in a few months, the HR managers mostly trust the gut sense rather than any hard evidence. But the advance analysis can change the situation and the organisation makes the new decisions and it also helps to make the economical profit (Florentine, 2020).
2. Reduction of the employee
Workers are a kind of investment for any organisation. From the starting part, interviewing a new candidate and arranging a training programme for the selected candidate is carried out in a huge amount for the company. The implications of turnover affect the company and it also reduces the experience of work level which leads to a low reduction quality and productivity of Barney Cools plus it provides a negative reputation of the company.
Managing worker turnover or reduction of employees is still a critical challenge for the Human Resource Management department for a lot of organisations. As stated by Cook, MacKenzie& Forde, (2016), the reduction of employees inevitably leads to a new process of recruitment which is an expensive process and time-consuming. As per research, the new procedure like recruitment, severance and training programme arrangement lost the productivity rate and cost a big amount of money which might drive down the growth curve. Barney Cools has different reasons for reducing employees and it also depends on the organisational economic conditions. Before reducing employees, the HR department of any organisation should work on the turnover rate and analyse the reason, monitor the outcome of employees, ensure the hiring process provide good results, search the proper candidate for the particular post and support the development management process.
3. Retain talent
The strategy of talent management is important for both company and individual performance to help to grow the quantified value of aligning business and talent strategy. For a famous business like Barney Cools, the talent strategy is a careful analysis. As everything exists in a nested part of a larger context, it’s very important to get a broad perspective of the business market for the organisation. As opined by Edwards & Edwards, (2019), the role of the HRM of Barney Cools Company is to hire new employees as per their education, knowledge, interest and experience. After completion of the selection procedure, the HRM department provides proper training to the worker so they can understand the work, roles, responsibilities and goals of the famous fashion brand.
After the completion of the training, people join as employees in the office and discuss regulation and roles in the organisation. Even reward providing and performance tracking also come under the duty of an HRM department. Maintaining structural stability is also a job of this department. Understanding the external business problems and searching for talented new people is a difficult job for any HRM department. The respective department also considers the economic situation and industry context before searching for any new talent of the organisation to provide a helpful backdrop for the business strategy. The important step is to gain an understanding of the strategic intent for the organization (Glaister, Karacay, Demirbag, &Tatoglu, 2018).
4. Achieving the optimum staffing level
The staffing strategy is a very useful technique for any organisation. It helps to identify the situation and also encourages new different skills and knowledge which can provide better performance results. The staffing plans should encompass the worker, consultants and contractors. This strategy develops the staffing situation of Barney Cools with the help of HRM professionals and also provides a piece of better knowledge to understand the present state along with future development. The staffing plan also helps to understand the allocated costs and budget. As per the views of Lowman, King, Wang & Lewis (2020), this plan should be implemented by the HRM department for any kinds of adjustment in the workplace. The staffing plans help to evaluate the goal of the company. It should support and align its organisational goals. This plan also identifies influencer and determines the different factors that might affect the organisational staffing level. This considers the identification and analysis of the present situation of an organisation and invention of the need for change. The HRM department should develop a solution plan regarding staffing level.
Conclusion
The report discussed the basic concept of HRM and how it helps the organization to meet its goals. The HRM department must predict the situation of an employee who is about to leave and save the economic conditions. The HRM department should focus on the reduction of employees and find better-talented candidates for the company. Hence, the HRM should work on staffing level plans for development and growth of the respective organisation.
Reference
Cassell, S. K. (2017). HRM solutions for retaining millennials in Western societies.Mediterranean Journal of Social Sciences, 8(5), 141.
Cook, H., MacKenzie, R., & Forde, C. (2016). HRM and performance: the vulnerability of soft HRM practices during recession and retrenchment. Human Resource Management Journal, 26(4), 557-571. Edwards, M. R., & Edwards, K. (2019).Predictive HR analytics: Mastering the HR metric. Kogan Page Publishers.
Florentine, S. (2020). How to predict who will quit — and whom to poach. Retrieved 9 September 2020, from https://www.cio.com/article/2978815/how-data-analytics-helps-managers-be-more-effective.html
Glaister, A. J., Karacay, G., Demirbag, M., & Tatoglu, E. (2018). HRM and performance—The role of talent management as a transmission mechanism in an emerging market context. Human Resource Management Journal, 28(1), 148-166.
Lowman, G. H., King, J. E., Wang, Y. R.,& Lewis, D. W. (2020). The Acceptability of HR Analytics: Exploring the Importance of the Individual Perspective.HRM assignment In Academy of Management Proceedings (Vol. 2020, No. 1, p. 13889). Briarcliff Manor, NY 10510: Academy of Management.
Phillips, J. J., Phillips, P. P., & Smith, K. (2016).Accountability in Human Resource Management: Connecting HR to Business Results. Routledge.
Predictive Analytics in Human Resources | AIHR Analytics. (2020). Retrieved 9 September 2020, from https://www.analyticsinhr.com/blog/predictive-analytics-human-resources/
