HRM Practices
HRM Practices
SUBMITTED BY
RAPARTHI PAWAN KUMAR
REG.NO VP21MGMT0100258
Date:
Assistant Professor
(GITAM INSTITUTE OF MANAGEMENT)
ACKNOWLEDGEMENT
Apart from the efforts of me, the success of any project depends largely on the
encouragement and guidelines given by many others. We take this opportunity
to express my gratitude to the people who have been instrumental in the
successful completion of the social project.
It is my greatest pleasure to thank Dean and Director Prof. Amit Batra and
Deputy Director Dr. Manjushree, GITAM INSTITUTE OF MANAGEMENT,
Visakhapatnam, for giving us the opportunity to do this project work.
I am particularly indebted to all my friends and parents for their cooperation and
support.
With Gratitude
R. Pawan Kumar
INDEX
S.NO CONTENT
1. INTRODUCTION TO HRM
The modern HR technology term human capital management (HCM) has been used more
frequently compared to the term HRM. The term HCM has had widespread adoption by large
and midsize companies and other organizations of software to manage many HR functions.
A company is only as good as its employees, making HRM a crucial part of maintaining or
improving the health of the business. Additionally, HR managers can monitor the state of the
job market to help the organization stay competitive. This could include making sure
compensation and benefits are fair, events are planned to keep employees from burning out
and job roles are adapted based on the market.
HOW DOES HRM WORK?
HR departments across different organizations can vary in size, structure and nature of their
individual positions. For smaller organizations, it is not uncommon to have a handful of HR
generalists, who each perform a broad array of HR functions. Larger organizations may
have more specialized roles, with individual employees dedicated to functions such as
recruiting, immigration and visa handling, talent management, benefits, compensation and
more. Though these HR positions are differentiated and specialized, job functions may still
overlap with each other.
OBJECTIVES OF HRM:
The objectives of HRM can be broken down into four broad categories:
1. Societal objectives: Measures put into place that responds to the ethical and social needs
or challenges of the company and its employees. This includes legal issues such as equal
opportunity and equal pay for equal work.
2. Organizational objectives: Actions taken that help to ensure the efficiency of the
organization. This includes providing training, hiring the right number of employees for a
given task or maintaining high employee retention rates.
3. Functional objectives: Guidelines used to keep HR functioning properly within the
organization as a whole. This includes making sure that all of HR's resources are being
allocated to their full potential.
4. Personal objectives: Resources used to support the personal goals of each employee.
This includes offering the opportunity for education or career development as well as
maintaining employee satisfaction.
Within the unit of each organization, the objectives of HRM are to:
1. Help the organization achieve its goals by providing and maintaining productive
employees.
2. Efficiently make use of the skills and abilities of each employee.
3. Make sure employees have or receive the proper training.
4. Build and maintain a positive employee experience with high satisfaction and quality of
life, so that employees can contribute their best efforts to their work.
5. Effectively communicate relevant company policies, procedures, rules and regulations to
employees.
6. Maintaining ethical, legal and socially responsible policies and behaviours in the
workplace.
7. Effectively manage change to external factors that may affect employees within the
organization.
SKILLS AND RESPONSIBILITIES OF HR MANAGER:
HRM can be broken down into subsections, typically by pre-employment and employment
phases, with an HR manager assigned to each. Different areas of HRM oversight can include
the following:
o Employee relations
o Job candidate relations
o Sourcing and recruiting
o Interpersonal conflict management
o New employee onboarding
o HR software and information system experience
o Performance management
o Customer service
o Project management
HRM BEST PRACTICES
The first Human Resource best practice is employment security. Life is unpredictable and
work is a stable factor that is very important to most people. Having an employer who
enables the employee to provide for themselves and their family is, in essence, the number
one reason why people come to work.
There is both a formal contract (labor for money) and an informal contract (you put in some
extra effort, we take good care of you) between the employee and the employer. Employment
security enables employees to go home after work and provide for themselves and their
families. This concept of security is essential and underpins almost everything HR does.
When this employment security is threatened, for example when there is a restructuring or a
layoff, you see this immediately ripple through the organization.
Employment security also benefits organizations because it helps them retain their people.
When employees are laid off, for example, it’s usually the organization that pays the price.
They are the ones who have invested in the selection, training, and development of these
employees. This is a costly process. If the organization doesn’t work on retaining its people,
they are more likely to leave and work for the competition.
In 2020, a survey found that job security is the third most important factor for employees.
28% of 1,100 professionals surveyed in the UK listed job security as an important factor. Job
security is important across global HRM practices.
The second HR best practice is selective hiring. This enables an organization to bring in
employees who add value.
You can’t just hire anyone; you want people who are fit for the job. Companies do their
utmost best to hire exceptional people because they add the most value to the business. There
also needs to be a prioritization of building a structured and fair selection process. This
reflects legal requirements, internal diversity goals, and that a more diverse workforce, better
reflects society. This can be hugely beneficial for understanding wider consumer behavior
and the needs of different customers.
Research shows that the difference in performance between an average performer and a high
performer can be as high as 400%! This holds for different industries and job types, including
researchers, entertainers, and athletes.
Bringing in the right people is, therefore, a key to building a competitive advantage.
In today’s digital world, there are a lot of different recruitment tools we can use to make the
right selection. More and more companies vigorously keep track of their recruitment metrics
to see how well they are doing in this regard.
Commonly used selection instruments are structured and unstructured interviews, IQ tests,
personality assessments, work tests, peer assessments, and reference checks. These (pre-
employment) assessments are used to uncover three key candidate characteristics.
1. Ability: Is the person able to do the job? Does the person have the right technical
and soft skills? Is the person smart enough to do the job well?
2. Trainability: Can we train this person to improve his/her skills? Has the person
the aptitude to learn and keep developing?
3. Commitment: Will the person commit to his/her work and to the organization?
Will we be able to retain this person once he/she is up to speed and fully
productive?
We all know that teamwork is crucial in achieving goals. High-performance teams are crucial
for any company when it comes to achieving success.
Teams provide value because they consist of people who are, and think differently but are
working towards a common goal. This means that different ideas are generated to help
achieve the goal. These ideas are then processed and combined, resulting in the best ones
being selected.
The best teams are cognitively diverse and psychologically safe. This means that team
members can generate ideas that are different while feeling comfortable bringing these up and
discussing them.
Creating and nurturing high-performance teams is one of HR’s key responsibilities. Belbin’s
Team Role Inventory is a popular tool for team creation and cooperation. Effective HRM
includes directly supporting teamwork by involvement in how teams are organized. This can
be done in several ways. Measuring team performance, rewarding team excellence, and
advising management on techniques and tools to facilitate teamwork are some methods.
Individual personality assessments also help understand how other team members think and
behave. Understanding these processes is one of the main responsibilities of a manager. This
is the reason why a lot of management courses focus on it.
Finally, HR needs to encourage different teams to work together in the organization. A team
is usually part of a larger entity, like another team or a department. These larger entities also
need to work together. Facilitating this helps to build an efficient and effective organization.
One of the tools that can be used for this is Organizational Network Analysis.
Contingent compensation is the fourth Human Resource best practice. It has everything to do
with compensation and benefits.
First of all, if you hire the right people, you want to compensate them above average. These
are the people that will add the most value to your company so you want to retain them and
pay them fairly. This is an example that shows how different best practices work together to
provide more value than they would alone, in this case, selective hiring, contingent
compensation, and employment security.
Paying people above the norm also has some potential disadvantages. For instance, it
discourages bad employees to leave. However, if you’re consistently hiring world-class
performers, an above-average compensation is a must.
This sort of compensation package can take the form of financial (base) pay and employee
benefits. You must follow market trends across your field, and adjacent fields (many of the
best employees may come from other career areas). Then you will be able to understand the
average rate of pay and where your company ranks in the compensation offer.
Secondly, you want to couple individual rewards with the different types of contributions that
employees make. These are performance-related rewards.
Think of profit sharing, shared ownership, or stock options for instance. These are great ways
to create employee commitment to the company’s long-term vision and retain high potentials.
Compensation is a key element for successful talent management.
In line with the previous, this type of co-ownership is usually not meant for all
employees. Lepak & Snell (2002) offer a good model to assess how important individual
employees are.
As an organization, you want to specifically retain your “Criticals”. They are people with
unique skills (i.e. hard to replace) who are very valuable to the business. That’s why senior
managers, most of which fit this category, are often offered these benefits.
This HR best practice states that companies should invest heavily in training time and budget
for its employees.
After recruiting the best people, you need to ensure that they remain the frontrunners in the
field. This has become even more relevant today as the rate at which technology is
developing is growing exponentially. This is where learning and development come in.
How do we create an organization in which the rate of learning matches the pace of change?
Learning has become a way to stay innovative, grow faster, and sustain a competitive
advantage.
In addition to formal learning, on-the-job learning also plays an important role. Increased
focus on feedback, coaching, and peer learning plays into this. This is part of the often-quoted
70|20|10 rule:
The next generation of workers is actively looking for development opportunities and sees
these as a way to grow in their profession. Not offering these opportunities is related to
higher levels of employee turnover.
Learning is, of course, also important for HR. To stay up to date and learn the skills needed to
do HR in the 21st century, check out our courses at the Academy to Innovate HR!
In Japanese organizations, this is expressed with common canteens, company uniforms, and
similar sickness and holiday entitlement. Such an egalitarian culture shows that everyone
deserves equal respect and could help in promoting the sharing of ideas.
Information sharing is essential. This is an area where a lot of large companies struggle: How
do you keep track of who knows what, so you know where to go with your questions?
According to Pfeffer, there are two reasons why information sharing is so important.
Firstly, open communication about strategy, financials, and operations creates a culture in
which people feel they are trusted. It truly involves employees in the business. As an
additional effect, it discourages hear-say and negative informal chatter.
Secondly, if you want your people to share their ideas, they need to have an informed
understanding of what’s going on in the business.
Being informed about the business is also something that employees often mention as
something they find important in attitude surveys, as well as having a chance to contribute to
and influence decisions affecting their working life.
ACCENTURE PROFILE
MISSION STATEMENT:
VISION STATEMENT:
Our core values shape the culture and define the character of our company. <br/><br/>We
live the core values through individual behaviors. They serve as a foundation in how we act
and make decisions.
VALUES:
Accenture (Global) mission, vision & values motivate 100% of Accenture (Global)
employees. Comparably data clearly shows that a focused mission statement and cohesive
core company values are vital to maintaining employee alignment.
CHAPTER – 3
OBJECTIVES AND
METHODOLOGIES
Organizational objectives for Accenture are the short to medium term targets and
goals that the organization sets to achieve the bigger strategic goals set for the long term. The
organizational objectives are important in shaping resource allocation within Accenture as
well as in determining the policies, schedules and processes that are implemented in
Accenture.
Components of objectives
Specific
All objectives set by Accenture are specific and clear. This helps employees, as well as
managers, manage and maintain focus on the targets and the end results that need to be
achieved. At the same time, specific objectives help managers determine skill development
and training needs within their departments as well.
Measurable
Objectives at Accenture are also measurable. This means that all objectives can be tracked for
progress. This is important for Accenture as it helps in meeting deadlines. The element of
measurability is added in objectives by adding quantifiable criteria for determining progress
and objective achievement.
Attainable
The goal should be attainable that even in stretching the abilities of the employees and
challenging them, it should remain possible to achieve. The objectives at Accenture are
attainable in that they push the employees out of their comfort zones but remain possible to
achieve.
Realistic
Objectives at Accenture are also attainable in that they are realistic. This means that
Accenture sets objectives keeping in view the organizational resources and constraints to be
able to achieve objectives effectively and within time.
Timely
Objectives at Accenture are also time-bound in that they have a specified start and finish date.
The timeliness of the objective helps Accenture maintain a sense of urgency in employees,
and keep them motivated towards achieving the objective.
2. Focus on goal
Objectives at Accenture should be set keeping in view the set organizational goals
Objectives at Accenture should flow from the organizational goals, and work towards
helping the company and its departments and operations achieving the set goals
This is important as it keeps objectives strategically relevant to the organizational
processes and systems
Objectives at Accenture should focus on the time constraints present in terms of resource
present, as well as the urgency of the organization and the industry
Objectives at Accenture should also focus on the skillset of employee and organizational
resources available
Focus on resources and skills is important to ensure that all objectives are attainable
Focus and relevance with resources and skills will also help Accenture identify gaps that
it needs to fill through training
1. Communication
2. Performance appraisal
The performance appraisal at Accenture helps managers and supervisors keep track of
objective achievement and employee performance
The performance appraisal also helps keep the objectives time bound through regular
reviews and discussions
The performance appraisal also helps identify skills development aspects that employees
need and helps the managers develop suitable and needful strategic training programs for
skill development and skill improvement.
INTRODUCTION TO METHODOLOGY
Secondary Source:
Secondary data was collected through various journals, e-journals, magazines & books
available on this subject. The articles & research papers published were also the part of the
study. The HRD policies of the concerned organizations were also significant to the study.
Methodology uses an integrated set of components to increase the reliability, quality, speed,
and predictability of technology and outsourcing engagements.
To start, search for a job of interest. You can search by location, business category or
keywords. Once you find one, click the “Apply Now” button. The online application should
only take about 10 minutes to complete.
We post the details of all open roles on our website. Focus on the jobs that excite you and
match your skills, experience and aspirations as opposed to submitting lots of applications.
Quality, not quantity, is the way to go.
To start, search for a job of interest. You can search by location, business category or
keywords. Once you find one, click the “Apply Now” button.
Begin the online application process by uploading your resume or CV. Fill in a few other
details and click ‘Submit’.
Once you’ve submitted your application online, our recruitment team will review your
application. They will also see if other roles match your profile. Not getting a role can often
be a matter of timing, rather than a reflection of your skills or qualifications. So, if things
don’t work out with your first application, don’t let that stop you from looking out and
applying to other roles in the future.
2. How to prepare for an Accenture interview
The next step in the process is a series of interviews—which may be on the phone, via video,
or in person—to better understand your skills, experience and motivations. Some positions
may require an online assessment for coding skills, natural strengths and decision-making.
Remember that interviews are two-way conversations. Use your time to ask questions to learn
about Accenture and the role. We’re always happy to connect you with subject matter experts
and future colleagues within Accenture for informal conversations to give you more insights.
If you have any special requirements, questions or concerns, our team is here to help. We are
committed to providing the support and provisions you need so you can keep the focus on
your conversations.
We know how important regular updates are. Whether we’re extending an offer or giving you
some advice to help with future interviews, we’ll be in touch as soon as we can. If you
receive an offer, we welcome further discussions before you make your decision. We know it
is a big decision and it’s important you have all the facts.
After an offer is accepted, your Accenture journey begins with the New Joiner Orientation.
You will meet with new colleagues and learn about our culture and values, our growth
strategy, and more.
Want to get an insider’s view into life at Accenture? Our Careers Blog provides insights on
how to kick-start and grow your career.
As a new joiner at Accenture, you will have access to a network of more than 500,000 people
worldwide. Our global collective of diverse people provides support and guidance along your
journey. Go as far as your ambition takes you.
ACCENTURE ELIGIBILITY CRITERIA
Academic Qualifications:
2020, 2021
B.E.
B.Tech.
MCA
MSc (Computer Science)
Eligible Branches:
SUMMARY
During the study findings are concluded on the base of analysis of collected data.
The study challenges the assumption that working only on-site makes people feel more
connected. People who work on-site, in comparison with those who work in hybrid or remote
workplaces, feel the least connected of the three groups studied — 42% of on-site workers
say they feel “not connected” versus 36% hybrid and 22% fully remote. While in-person time
is vital, physical proximity that lacks leadership support, flexibility, technology or sense of
purpose doesn’t necessarily translate into people feeling deeper connections to their work and
to each other.
The research also shows that companies whose people benefit from omni-connected
experiences can realize a 7.4% annual revenue growth premium. Omni-connection also builds
trust, with 29% of omni-connected workers saying they feel more likely to experience a
deeper level of trust in their organization. Additionally, being omni-connected accounts for
59% of an employee’s intention to stay in their job, and over 90% of omni-connected people
say they can be productive anywhere.
“People and culture are organizations’ top sources of competitive differentiation and at the
heart of growth. As people fundamentally re-evaluate their relationships with work, leaders
have the opportunity to strengthen culture by looking beyond space and place,” said Ellyn
Shook, chief leadership and human resources officer, Accenture. “By creating omni-
connected experiences, leaders put relationships first and level the playing field so every
person can work to their full potential in ways that work for them—which deepens trust and
drives business results.”
SUGGESTIONS
Match people to job: – At the time of selection employee should be according to the grade or
division with required qualification.
Individualize rewards: – For the good performance of employees, company should start a
reward kind of system by which motivation level increase in term of work.
All these suggestions directly or indirectly will help the employer to motivate their employees
in a better way and can understand their needs in a better way.
CONCLUSION
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Price, P., Narayanan, V.G., & Weber, J. (2018). Accenture Human Capital Strategy, Harvard
Business Review.
Waterman, R. H., Jr. (1994). What America Does Right: Learning from Companies That Put
People First? New York: Norton.
Weber, L. (2019). Accenture Retrains Its Workers as Technology Upends Their Jobs, The
Wall Street Journal, https://www.wsj.com/articles/accenture-retrains-its-workers-as-
technology- upends-their-jobs-11561318022