The paper discusses the change aspect of Human resource management in general and in accordance with the Zhejiang Geely Holding Group Co. Ltd. The 7 aspects of Human resource management is discussed thoroughly reflecting those variables which are globally changed in today’s era. Moreover, it also discusses as to how the company trains newly hired workers and make them an effective part of their company. The paper further discusses as to how formal institutions are set up for the assessment of senior managers. On the other hand, the other important aspects of HRM related to the benefits of workers, and how incentives are set up by the managers for their workers. Apart from this, the main purpose behind the creation of a labor union is also discussed and how they play a pivotal role in the process of certain regulations of the organization. Along with Geely Holding Group Co. Ltd, other companies are also referred so as to get some insight the patterns that are trending in accordance with the Human resource management. In the same way, it should be noted that human capital is the main asset of the organization and according to me, such resource is the only resource that will create success and effectiveness for any particular company in the future. Contents Executive Summary Introduction Background and Context Scope Aims and Objectives Methodology Achievements Overview of the Dissertation Literature Review Research in HR Management Training and its Purpose
It is an obvious fact that the human resource management is the coherent and strategic approach for managing the most valued assets of an organization, i.e. the people, who collectively contributes to the accomplishments and attainments of the aims and objectives of the organization. There is no doubt that the competitive advantage of any particular organization is achieved through the people. On the other hand, there are other resources which provide a route to competency in any industry. Such resources are named as Finance, plants, raw materials, software and hardware are an important perspective of an organization but they are solely operated by the people. Therefore, in an explicit and implicit way, all strategies of an organization will incorporate a great human resource aspect. And, that is a great debate as to the process of human resource has any contribution in the strategy making process. There are several companies which are still operating under the traditional human resource management approach, theories and practices, but the role of HR in today’s businesses is considerably changing. The Human resource department is known to deal with the policy and administrative issues, but in today’s era, the HRM aspect needs a more interactive approach than before.
Background and Context
The human resource management is the most significant aspect and asset of an organization. This is because, the Human resource management approach empowers the training, selection, recruitment and incentive process. On the other hand, it is a certain fact that the company would always be in a need to hire a new talent when it has already expanded globally. And, that is the case of the company Zhejiang Geely Holding Group Co. Ltd. In order to seek the performance management of the company, Geely has been the victim of shortage of talents reserve. As the company expands globally, it becomes a very complicated process. Due to the continuous expansion of international markets, the demand for Geely’s talent become more and more diversified. Their current training model is such that the staff is trained in the native country and then sent to foreign branches to proceed with the work. However, if there is an international market of any company, there should a hiring process from that country and training should be done there so that the candidate can be available for the international perspectives of the organization.
The paper aims to focus on the changes in the aspects of the HR management in Zhejiang Geely Holding Group Co. Ltd. But in order to understand the changing patterns of the human resource management in this particular company, it is necessary to learn the general changing patterns of human resource management that further provide us a good insight for its global importance as well. Moreover, along with this particular company, many evidences are also secured from other companies for reference purposes so that the changing aspects of human resource management can be compared and assessed against Geely holdings Pvt Ltd.
Aims and Objectives
The primary aim is to explore the changing trends in the HR management of Zhejiang Geely Holdings Group Co. Ltd. Some of the more changed aspects of the HR department may include employee training, both in the realm of selecting what’s needed and providing for the delivery of content, as well as evaluating the results. These aspects have certainly changed in the 21st century from the late 20th century. The reason behind this is that the business environment has become too much complicated and challenging. There are several situations where employees and workers cannot meet the complexities of the business environment. In order to meet such requirements, it is very much necessary to learn about the changing aspects of the human resource management and how it has affected the company Geely Holdings Group. The research will provide us the following details throughout the paper:
How recruiting of new talents is done on local and international level?
What is the exact purpose of training?
What are the formal institutions for assessment of the senior managers?
What are the incentives and benefits provided to the workers?
What is the relevance of the delegation of authority?
How and why labor unions are formed?
The paper will use Geely holding company as a tool to learn the changing aspects of the human resource management and the researcher will also follow other research articles in order to have a great understanding as to how the patterns of the human resource management have changed within the 21st century. Most importantly, the HR practices in terms of training and recruitment have definitely changed. The most important fact behind this is that the business situations are totally different now and in order to deal with such work and situation, employees and workers should be greatly trained so that they are competent enough to meet challenges in the work environment and contribute to the performance of the company. Moreover, other companies are also referred so as to get some insight the patterns that are trending in accordance with the Human resource management. In the same way, it should be noted that human capital is the main asset of the organization and according to me, such resource is the only resource that will create success and effectiveness for any particular company in the future. The key aspect of the performance management is the emphasis on a moral criteria like diligence, work attitudes and the teamwork approach which are significant in improving an organization in terms of performance and growth.
Through the discussion on the changing aspects of Human resource management in Geely holdings group Co. Ltd, the paper would give a complete picture of emerging trends and significance of Human resource management in the 21st century. This is the most important fact that human resource management should be given its due importance because this department is concerned with the candidates and applicants that would further contribute towards the performance of a company. In this paper, the Geely holdings group will be analyzed to get a complete understanding as if there occurred any changes during the process of development of Geely Holdings group Co. Ltd. And the paper will thoroughly provide us the details of the way workers are recruited in Geely Holdings and how they are provided with incentives in accordance with their performance. The paper will also describe the applicability of labor unions in this particular company.
Overview of the Dissertation
Chapter 1 deals with the introduction of the paper. It briefly describes the importance of Geely holdings group and a brief overview of the changing aspects of the concerned department. It further entails that the management of a human resource or capital is the most significant department of the organization as there is no doubt that the competitive advantage of any particular organization is achieved through the people. On the other hand, there are other resources which provide a route to competency in any industry. Such resources are named as Finance, plants, raw materials, software and hardware are an important perspective of an organization but they are solely operated by the people. It also describes that Human Resource Management, is an approach in managing the people in an organization to enhance the return on an investment from the utilization of human capital, and that is only possible through a proper workforce planning, selection, recruitment, training and development, performance appraisal, compensation and incentives. Therefore, the importance of HRM lies in the fact that it enhances the knowledge of employees along with his skills and capabilities Chapter 2 deals with the literature review on the way the aspects of Human resource management are changed in today’s era. It further explains us changes in such aspects come as a result of managing a change in focus, going from a distinct hierarchy where top level managers are the only ones whose voices matter, to a team approach to organizational management that recognizes the importance of every team member. It also encourages employees to strengthen all of their abilities and competencies so that they can contribute to the company’s performance and that the organizational structure and culture should be set up in order to empower employees for doing so.
It is particularly known that the Human Resource Department tries to work closely with the employees which is further followed by their training and, this helps the workers to meet the business and corporate goals. There is one thing for sure that not only the economic issues drive the department, but behavioral issues are also responsible for this. Generally, HR is being closer to the team than it was before. Instead of being the people who sit in their closed work places and interview candidates, then permit divisional administrators and executives to manage day to day operations, HR is presently getting included in choice making, and making a commitment to the organization all in all, instead of being restricted to just the HR office. Many of these changes come as a result of managing a change in focus, going from a distinct hierarchy where top level managers are the only ones whose voices matter, to a team approach to organizational management that recognizes the importance of every team member. Some of the more involved aspects of the HR department may include employee training, both in the realm of selecting what’s needed and providing for the delivery of content, as well as evaluating the results. In addition, a closer relationship with managers at all levels in the company is making it easier for the HR department to take part in other aspects of business operations, including aiding in the implementation of many of the policies they once only created. There are activities likewise to spread the information inside the company, down to the most customary members. The most ideal approach to enable them is to give forth Human Resources programming that gives a direction and complete explanation of hierarchical approaches. With the progressions in the laws of HR, the division has additionally got to be more proficient at giving the standard procedures for contracting, terminating, control and associated with employees, and recompense and profits, a zone they’ve dealt with from the beginning. And, as laws keep on evolving and change, the HR Department is required to wind up progressively vital in the management and approaches needed to stay in the consistence of every one.
Research in HR Management
Traditionally, Human resources has been known as a personnel management. This was replaced with the Human resources as more emphasis was laid on the sourcing of the capacity of a workforce which is relevantly a factor of production in the economic theory. Specifically, Human Resource Management, is an approach in managing the people in an organization to enhance the return on an investment from the utilization of human capital, and that is only possible through a proper workforce planning, selection, recruitment, training and development, performance appraisal, compensation and incentives. Therefore, the importance of HRM lies in the fact that it enhances the knowledge of employees along with his skills and capabilities. It also encourages its employees to strengthen all such characteristics so that they can contribute to the company’s performance and that the organizational structure and culture should be set up in order to empower employees for doing so. The advancement of the human resource management is always evolving. This follows the HR evolution in 4 stages from the Western point of view. The first stage is Pre industrial; the second one is Paternalistic; the third one is Bureaucratic and the fourth one is High Performance and there is a great link of the high performance stage with the Bureaucratic stage within the aspects of job analysis and evaluation, development and training, employee selection tools and techniques and other systemic setting for rewards along with other reachable goals. This was introduced by Taylorism to enhance the HR efficiency and formality. The initiation of the high performance stage was done by the study of Hawthorne in early 1920 and came into effect in the 20th century. This stage analyses as to how the psychological and human factors influence the organizations and its performance, which the central point of this particular stage. Specific topics like team motivation and goal actualization of individuals within the companies are essential in emphasizing the pivotal role of leadership, commitment, cohesion and loyalty in the success of an organization. Performance management is an important in every enterprise with the essential purpose that links it to the compensation so that incentive could be given to the workers to enhance the productivity. Therefore, it can be said that training and development has to be changed from the traditional approach so that the organizational competency can be greatly emphasized. On a global level, the key aspect of the performance management is the emphasis on a moral criteria like diligence, work attitudes and the teamwork approach which are significant in improving an organization in terms of performance and growth.
Training and its Purpose
The significance of training is known to everyone. There is a real improvement in the development of training, i.e. the refinement between training pertinent to a wider integration of tasks and training which is more particular to the employment and organization’s general training and particular training. The training, in general, raises the future productivity of a laborer in different firms in the work market. This further entails that specialists as opposed to firms should pay the expense of general training on the grounds that the employer would not have the capacity to capture any future profit from their investment. Accordingly, general training may be orchestrated in a formal bunch of an instruction in light of the fact that it is significant to an extensive variety of employers and could be attained in different ways than training in the organizations. The firm ought to pay for the firm particular component related to training which does not help the laborer get higher wages somewhere else. Conversely, particularly, specific training raises the laborer’s benefit just in the firm giving it either in light of the fact that they have very special techniques or in light of the fact that they utilize equipment with which the laborers must get to be familiar. The profits from particular training may be lost when the association between manager and employee breaks down. In this way, specific training is obviously connected with turnover. At the point when managements anticipate that workers will be with the firm for quite a while, they will offer training for laborers since there is a more drawn out period in which the firm can get returns from their venture. The learning and aptitudes of employees and workers obtained through training have ended up essential notwithstanding the inexorably quick changes in products, technology, and frameworks. Most companies put resources into training in light of the fact that they accept that there would be a display of a better performance. On the other hand, the hypothetical structure for the relationship in the middle of training and performance of the firm has been liable to an impressive debate. There was a model which underscores the entomb relatedness and cognizance of the human resource management (HRM) performance and policies. As per this model, training and other activities of HRM plan to build an individual performance, which is accepted to prompt higher performance of the firm. Firm assets incorporate organizational capital, human capital and physical capital that empowers the firm to enhance its effectiveness and adequacy. Its assets focus on the quality of a firm in the long haul. For the firm assets to provide an effective competitive advantage, they must have four characteristics: 1) important, 2) uncommon, 3) not imitable, and 4) can’t be supplanted with an alternate asset by contending organizations. Along these lines, human capital is the most important asset for a firm and from the above characteristics criteria, it can’t be copied or purchased in the business by contenders. Applying the asset based perspective on training recommends that training can give learning and aptitudes to workers and employees and thus, this may prompt high firm execution. Therefore, it can be said that training and development has to be changed from the traditional approach so that the organizational competency can be greatly emphasized. On a global level, the key aspect of the performance management is the emphasis on a moral criteria like diligence, work attitudes and the teamwork approach which are significant in improving an organization in terms of performance and growth.