This document discusses benchmarking of HR practices. It begins with defining benchmarking as a process of identifying and adopting best practices to improve performance. It then outlines the purpose of benchmarking HR practices, which includes establishing solid HR systems and ensuring compliance. The document discusses the benchmarking process and its 5 key stages. It also differentiates between benchmarking and identifying best practices. Some factors that can enhance the success of benchmarking are discussed. The document then analyzes how to benchmark the 5 main HR functions. It concludes by outlining some of the benefits of benchmarking HR practices.
Project Report on Performance Appraisal System and Effectiveness in Flora Hot...PS NEEMISH
The study covers employees of Flora Hotel Cochin.
A survey was conducted for information about the performance appraisal
system that was used in the company.
The study focuses on type, effectiveness and employee attitude of the
appraisal system.
To help management plan future development and growth.
The sample size of 50 employees was selected at random from all
departments.
Project Report on Performance Appraisal System and Effectiveness in Flora Hot...PS NEEMISH
The study covers employees of Flora Hotel Cochin.
A survey was conducted for information about the performance appraisal
system that was used in the company.
The study focuses on type, effectiveness and employee attitude of the
appraisal system.
To help management plan future development and growth.
The sample size of 50 employees was selected at random from all
departments.
Comprehensive Analysis of ETA Engineering's Organizational Culture in 2012: A...Motoor Mohammed Muzammil
In 2012, a comprehensive study was conducted to dissect the organizational culture of ETA Engineering. This research employed a range of robust statistical tools, including Chi-square test, Ranking Method, Percentage Ranking, and Weighted Average. The objective was to provide a deep, data-driven understanding of the cultural dynamics within the organization during this pivotal year.
Key Methodologies:
Chi-square Test: This statistical tool was applied to determine the association between different cultural attributes and their significance within the organizational framework. By analyzing observed and expected frequencies, it helped identify areas of notable deviation.
Ranking Method: A structured approach was used to assess and rank various cultural dimensions based on their perceived importance and impact. This method facilitated a systematic evaluation of cultural elements.
Percentage Ranking: This method provided a quantitative assessment of cultural factors, allowing for a clear understanding of their relative significance in influencing organizational dynamics.
Weighted Average: By assigning weights to different cultural indicators based on their relative importance, a comprehensive score was calculated. This method allowed for a nuanced evaluation of the overall cultural landscape.
Significance of the Study:
This study holds immense significance for ETA Engineering. It provided a detailed, data-backed insight into the organizational culture of the company in 2012. The findings serve as a valuable resource for strategic decision-making, enabling the organization to leverage its cultural strengths and address potential areas of improvement.
The rigorous application of statistical tools ensured that the conclusions drawn were robust and reliable, offering a solid foundation for any ensuing cultural interventions or initiatives.
Mba project on recruitment and selection processAnil Kumar Singh
Abstract: In this research paper, a study hs been made on the recruitment and selection processes between the two different sectors, i.e; Manufacturing sector and Services sector. The study indicates various techniques used by the two companies, that is, Kudos Chemical Limited, that is a manufacturing company and Virasat-e-Khalsa which belongs to the services sector. The study made under observation comprises of the services and guidance of a recruitment agency called Jobachievers, that is functioning from its office at Chandigarh, to provide job opportunities to the dserving candidates, in mostly areas in Punjab.
Index Terms: Recruitment, Selection
1) INTRODUCTION
The two companies undertaken in the project study comprises of a manufacturing firm named KUDOS CHEMICAL LIMITED and a servicing unit named VIRASAT-E-KHALSA. The former is having a chemical base and is in the business of manufacturing “caffeine”.
The latter is a service unit, having the structure of a theme museum, in which the culture of Punjab has been depicted in a versatile manner. Both of the companies need an adequate base of employees, who can carry out the various functions int the firms. Due to the different nature of the working aspects of these two firms, the recruitment and the selection process of both the firms are entirely different.
The only area in which the recruitment process of these two firms concides is that both the firms seeks out the help of recruitment agencies to find the appropriate and deserving candidates for their firms. The project report, hereby, includes my work at such a recruitment agency named “JOBACHIEVERS” under which I studied the recruitment and selection processes of various firms and prepared my project report on the comparison between the recruitment and selection process of a manufacturing firm and a service firm.
The process of recruitment begins with the sending of the “Job description” by the company. The job description is comprising of the following requirements:
1) Position vacant
This very first point, clarifies to the recruiter, for which required position, the candidate is needed. The recruiter then make use of the data that is available to him, or creates new data of the candidates. Since I undergone the training in a job consultancy, there was pre-recorded data already available. Thus, the recruiter can contact the person and can make him attend the scheduled interview for the required post.
2) Examining the Job description
The Job description provided by the company tells the recruiter, the complete insight of the position vacant and also provides the knowledge of what the company is seeking in the required candidate. Understanding the complete JD (Job description) only can help the recruiter to move to the next step. If the recruiter fails to understand the need of the company from the JD provided, then all of the steps undertaken by the recruiter would turn out to be a failure.
HR Project Report on Recruitment & Selection Procedure
HR Project Report on Work Life Balance
HRM Project Report on HR Trends
HR Project Report on Training and Development of Employees.
HR Project Report on Total Quality Management
HR Project Report on Employee Performance Appraisal
HR Project Report on “Performance Appraisal”?
HR Project Report on Job Satisfaction of employees
HR Project Report on Quality Circle of Industries
Project report on Workers Participation in Management
Comprehensive Analysis of ETA Engineering's Organizational Culture in 2012: A...Motoor Mohammed Muzammil
In 2012, a comprehensive study was conducted to dissect the organizational culture of ETA Engineering. This research employed a range of robust statistical tools, including Chi-square test, Ranking Method, Percentage Ranking, and Weighted Average. The objective was to provide a deep, data-driven understanding of the cultural dynamics within the organization during this pivotal year.
Key Methodologies:
Chi-square Test: This statistical tool was applied to determine the association between different cultural attributes and their significance within the organizational framework. By analyzing observed and expected frequencies, it helped identify areas of notable deviation.
Ranking Method: A structured approach was used to assess and rank various cultural dimensions based on their perceived importance and impact. This method facilitated a systematic evaluation of cultural elements.
Percentage Ranking: This method provided a quantitative assessment of cultural factors, allowing for a clear understanding of their relative significance in influencing organizational dynamics.
Weighted Average: By assigning weights to different cultural indicators based on their relative importance, a comprehensive score was calculated. This method allowed for a nuanced evaluation of the overall cultural landscape.
Significance of the Study:
This study holds immense significance for ETA Engineering. It provided a detailed, data-backed insight into the organizational culture of the company in 2012. The findings serve as a valuable resource for strategic decision-making, enabling the organization to leverage its cultural strengths and address potential areas of improvement.
The rigorous application of statistical tools ensured that the conclusions drawn were robust and reliable, offering a solid foundation for any ensuing cultural interventions or initiatives.
Mba project on recruitment and selection processAnil Kumar Singh
Abstract: In this research paper, a study hs been made on the recruitment and selection processes between the two different sectors, i.e; Manufacturing sector and Services sector. The study indicates various techniques used by the two companies, that is, Kudos Chemical Limited, that is a manufacturing company and Virasat-e-Khalsa which belongs to the services sector. The study made under observation comprises of the services and guidance of a recruitment agency called Jobachievers, that is functioning from its office at Chandigarh, to provide job opportunities to the dserving candidates, in mostly areas in Punjab.
Index Terms: Recruitment, Selection
1) INTRODUCTION
The two companies undertaken in the project study comprises of a manufacturing firm named KUDOS CHEMICAL LIMITED and a servicing unit named VIRASAT-E-KHALSA. The former is having a chemical base and is in the business of manufacturing “caffeine”.
The latter is a service unit, having the structure of a theme museum, in which the culture of Punjab has been depicted in a versatile manner. Both of the companies need an adequate base of employees, who can carry out the various functions int the firms. Due to the different nature of the working aspects of these two firms, the recruitment and the selection process of both the firms are entirely different.
The only area in which the recruitment process of these two firms concides is that both the firms seeks out the help of recruitment agencies to find the appropriate and deserving candidates for their firms. The project report, hereby, includes my work at such a recruitment agency named “JOBACHIEVERS” under which I studied the recruitment and selection processes of various firms and prepared my project report on the comparison between the recruitment and selection process of a manufacturing firm and a service firm.
The process of recruitment begins with the sending of the “Job description” by the company. The job description is comprising of the following requirements:
1) Position vacant
This very first point, clarifies to the recruiter, for which required position, the candidate is needed. The recruiter then make use of the data that is available to him, or creates new data of the candidates. Since I undergone the training in a job consultancy, there was pre-recorded data already available. Thus, the recruiter can contact the person and can make him attend the scheduled interview for the required post.
2) Examining the Job description
The Job description provided by the company tells the recruiter, the complete insight of the position vacant and also provides the knowledge of what the company is seeking in the required candidate. Understanding the complete JD (Job description) only can help the recruiter to move to the next step. If the recruiter fails to understand the need of the company from the JD provided, then all of the steps undertaken by the recruiter would turn out to be a failure.
HR Project Report on Recruitment & Selection Procedure
HR Project Report on Work Life Balance
HRM Project Report on HR Trends
HR Project Report on Training and Development of Employees.
HR Project Report on Total Quality Management
HR Project Report on Employee Performance Appraisal
HR Project Report on “Performance Appraisal”?
HR Project Report on Job Satisfaction of employees
HR Project Report on Quality Circle of Industries
Project report on Workers Participation in Management
Pizza hut description and HR policies | project report of pizza hutMian Muhammad Zafar
Its a final report on the topic Pizza Hut.
The file contains a brief description about thee organization and it also contains the mission and vision statement as well as objectives of the organization.
The main content of the report is about the HR policies of the organization.
it don't have any unrelated description and it is very easy and just to the point so u can enjoy this report and it is very helpful for your study carrier
CHAPTER 12PORTER NOVELLIGREG WALDRONApplying the Dro.docxbartholomeocoombs
CHAPTER 12
PORTER NOVELLI
GREG WALDRON
Applying the Drotter “results-based” Leadership Pipeline approach to create a performance management system in a professional service firm.
• Introduction
• Business Diagnosis and Assessment
• Feedback
• Program Design Considerations
• Program Implementation
• Design Considerations
• Chosen Approach, Format Development, and Introduction
• Performance Management System Development
• Tailored Leadership Pipeline Development
• Evaluation
• Business Results
• Employee Climate Survey Results
• Turnover Results
• Anecdotal Evidence
INTRODUCTION
The Drotter results-based approach is tailored to a professional services firm structure and applied in the development of a performance management system aligned with the business’s strategy. Drotter’s Leadership Pipeline approach is implemented, with the full performance definitions for each leadership level in the tailored pipeline becoming the basis for a new organization-wide performance management application. The Drotter full performance definitions subsequently become the “source code” for selection, talent management, and training planning applications. The focus of this paper is the first application, performance management.
Business Diagnosis and Assessment
In 2004, Porter Novelli, a leading global marketing communications firm, undertook a fundamental strategic assessment and visioning process to guide it through the next five years. The firm’s CEO, president, and chief strategy officer led this process. The vision focused on a new approach to client account planning, a more client-centric structure, and a greater emphasis on operating interdependence between the globally dispersed offices in the service of multinational clients. It was felt that these three initiatives would dramatically increase the firm’s capacity to win and grow large, complex, and geographically dispersed client accounts—the firm’s strategic market target.
The senior management group identified the need to upgrade and align human resources management processes to successfully communicate and implement the new business strategy. The firm proceeded to hire a chief talent officer (CTO) to assist in the strategy implementation effort by designing and installing a more systematic, business-focused human resources management process.
In the CTO’s opinion, the vision implementation challenge centered on creating the highest possible level of employee engagement with the vision in the short term—by providing people throughout the firm with a clear, specific understanding of what the business strategy meant for them.
His metaphor for engagement was specifying the “four entitlements of all employees.” The CTO’s experience with corporate change efforts had led him to the conclusion that specific answers to four fundamental questions were a reasonable baseline expectation for every employee, regardless of level or function:
1. What specifically do you expect of me?
2. How will you define succes.
CHAPTER 12PORTER NOVELLIGREG WALDRONApplying the Dro.docxcravennichole326
CHAPTER 12
PORTER NOVELLI
GREG WALDRON
Applying the Drotter “results-based” Leadership Pipeline approach to create a performance management system in a professional service firm.
• Introduction
• Business Diagnosis and Assessment
• Feedback
• Program Design Considerations
• Program Implementation
• Design Considerations
• Chosen Approach, Format Development, and Introduction
• Performance Management System Development
• Tailored Leadership Pipeline Development
• Evaluation
• Business Results
• Employee Climate Survey Results
• Turnover Results
• Anecdotal Evidence
INTRODUCTION
The Drotter results-based approach is tailored to a professional services firm structure and applied in the development of a performance management system aligned with the business’s strategy. Drotter’s Leadership Pipeline approach is implemented, with the full performance definitions for each leadership level in the tailored pipeline becoming the basis for a new organization-wide performance management application. The Drotter full performance definitions subsequently become the “source code” for selection, talent management, and training planning applications. The focus of this paper is the first application, performance management.
Business Diagnosis and Assessment
In 2004, Porter Novelli, a leading global marketing communications firm, undertook a fundamental strategic assessment and visioning process to guide it through the next five years. The firm’s CEO, president, and chief strategy officer led this process. The vision focused on a new approach to client account planning, a more client-centric structure, and a greater emphasis on operating interdependence between the globally dispersed offices in the service of multinational clients. It was felt that these three initiatives would dramatically increase the firm’s capacity to win and grow large, complex, and geographically dispersed client accounts—the firm’s strategic market target.
The senior management group identified the need to upgrade and align human resources management processes to successfully communicate and implement the new business strategy. The firm proceeded to hire a chief talent officer (CTO) to assist in the strategy implementation effort by designing and installing a more systematic, business-focused human resources management process.
In the CTO’s opinion, the vision implementation challenge centered on creating the highest possible level of employee engagement with the vision in the short term—by providing people throughout the firm with a clear, specific understanding of what the business strategy meant for them.
His metaphor for engagement was specifying the “four entitlements of all employees.” The CTO’s experience with corporate change efforts had led him to the conclusion that specific answers to four fundamental questions were a reasonable baseline expectation for every employee, regardless of level or function:
1. What specifically do you expect of me?
2. How will you define succes ...
The Project Management Maturity Model is a formal tool developed by PM Solutions and
used to measure an organization's project management maturity. Once the initial level of maturity and
areas for improvement are identified, the PMMM provides a roadmap, outlining the necessary steps to
take toward project management maturity advancement and performance improvement.
The Project Management Maturity Model is a formal tool developed by PM Solutions and
used to measure an organization's project management maturity. Once the initial level of maturity and
areas for improvement are identified, the PMMM provides a roadmap, outlining the necessary steps to
take toward project management maturity advancement and performance improvement.
Levels of Project Management Maturity
Level 1: Initial Process
o Ad hoc processes
o Management awareness
Level 2: Structured Process and Standards
o Basic processes; not standard on all projects; used on large, highly visible projects
o Management supports and encourages use
o Mix of intermediate and summary-level information Estimates and schedules
based on expert knowledge and generic tools
o Project-centric focus
Level 3: Organizational Standards and Institutionalized Process
o All processes standard for all projects and repeatable
o Management has institutionalized processes
o Summary and detailed information
o Baseline and informal collection of actual data
o Estimates and schedules may be based on industry
o standards and organizational specifics
o Organizational focus
o Informal analysis of project performance.
Level 4: Managed Process
o Processes integrated with corporate processes
o Management mandates compliance
o Management takes an organizational entity view
o Solid analysis of project performance
o Estimates and schedules normally based on organization specifics
o Management uses data to make decisions
Level 5: Optimizing Process
o Processes to measure project effectiveness and efficiency
o Processes in place to improve project performance
o Management focuses on continuous improvement
225
C H A P T E R
12
PORTER NOVELLI
GREG WALDRON
Applying the Drotter “ results - based ” Leadership Pipeline approach to create a per-
formance management system in a professional service fi rm.
Introduction
Business Diagnosis and Assessment
Feedback
Program Design Considerations
Program Implementation
Design Considerations
Chosen Approach, Format Development, and Introduction
Performance Management System Development
Tailored Leadership Pipeline Development
Evaluation
Business Results
Employee Climate Survey Results
Turnover Results
Anecdotal Evidence
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c12.indd 225c12.indd 225 10/30/09 5:39:50 PM10/30/09 5:39:50 PM
226 Best Practices in Talent Management
INTRODUCTION
The Drotter results - based approach is tailored to a professional services fi rm structure
and applied in the development of a performance management system aligned with the
business ’ s strategy. Drotter ’ s Leadership Pipeline approach is implemented, with
the full performance defi nitions for each leadership level in the tailored pipeline
becoming the basis for a new organization - wide performance management applica-
tion. The Drotter full performance defi nitions subsequently become the “ source code ”
for selection, talent management, and training planning applications. The focus of this
paper is the fi rst application, performance management.
Business Diagnosis and Assessment
In 2004, Porter Novelli, a leading global marketing communications fi rm, undertook a
fundamental strategic assessment and visioning process to guide it through the next
fi ve years. The fi rm ’ s CEO, president, and chief strategy offi cer led this process. The
vision focused on a new approach to client account planning, a more client - centric
structure, and a greater emphasis on operating interdependence between the globally
dispersed offi ces in the service of multinational clients. It was felt that these three ini-
tiatives would dramatically increase the fi rm ’ s capacity to win and grow large, com-
plex, and geographically dispersed client accounts — the fi rm ’ s strategic market target.
The senior management group identifi ed the need to upgrade and align human
resources management processes to successfully communicate and implement the new
business strategy. The fi rm proceeded to hire a chief talent offi cer (CTO) to assist in
the strategy implementation effort by designing and installing a more systematic,
business - focused human resources management process.
In the CTO ’ s opinion, the vision implementation challenge centered on creating
the highest possible level of employee engagement with the vision in the short term —
by providing people throughout the fi rm with a clear, specifi c understanding of what
the business strategy meant for them.
His metaph ...
When we think about refreshment, the first thing that comes to our mind is coffee or tea. Most people prefer coffee and most prefer tea and these two drinks have become a part of a human being’s life.
Here we (I) have concentrated on coffee which is considered as a traditional drinks especially in south India. People here start their everyday life with a cup of coffee. Not only in south India but in all parts of the world people are so dependent and addicted to coffee that it acts as a daily schedule to every body every where. But this coffee is not grown in all parts of the world but is grown in very few places with right kind or weather, atmosphere and most important of all, the soil of that region.
world health, who, carcinogen, caffeine, cancer, health benefits, MBA mini projects, projectskart, short projects, summer internship project,
The sugar industry occupies a major portion in the (organization) industries of India. The sugar industries have rank second next to cotton and textile industries. The sugar industry started since 1830. China is the first producer of sugar in the world. It provides highest direct employment opportunities.
The sugar industry is one of the important Ago-based industry of the country India is the fourth major sugar production in the world. The first three is Russia, Brazil and Cuba. Sugar industry provides direct employment to nearly 3lakh persons this industry supports about 25 million agriculturists. It pay’s both to the central government and the state government about Rs.350 crores by way of different taxes. The capital employed in the industry is of the order of Rs.780 crores. There are about 414 mills producing sugar, which are spread all over the country.
When we think about refreshment, the first thing that comes to our mind is coffee or tea. Most people prefer coffee and most prefer tea and these two drinks have become a part of a human being’s life.
Here we (I) have concentrated on coffee which is considered as a traditional drinks especially in south India. People here start their everyday life with a cup of coffee. Not only in south India but in all parts of the world people are so dependent and addicted to coffee that it acts as a daily schedule to every body every where. But this coffee is not grown in all parts of the world but is grown in very few places with right kind or weather, atmosphere and most important of all, the soil of that region. It is usually grown in hill stations with adequate amount of rainfall and such places which are high above sea level. Therefore in India, Karnataka is such a place, especially South Karnataka which produces the highest amount of coffee in whole India. Most parts of Karnataka such as Chikmagalur district and many parts in Hassan District, and also Coorg.
A Study on Sugar Industry at Chamundeshwari SugarProjects Kart
The discovery of sugarcane from which sugar was produced had been known since thousands of years. It is thought to have originated in New Guinea, and was spread along routes to Southeast Asia and India. The process known for creation of sugar, by pressing out the juice and then boiling it into crystals, was developed in India around 500 BC.
Its cultivation was not introduced into Europe until the middle-ages, when it was brought to Spain by Arabs to thrive in a most favorable climate.
Study on Inventory Management at Reid & Taylor (India) LtdProjects Kart
Inventory is a list of goods and materials, or those goods and materials themselves, held available in stock by a business. Inventory management is primarily about specifying the size and placement of stocked goods. Inventory management is required at different locations within a facility or within multiple locations of a supply network to protect the regular and planned course of production against the random disturbance of running out of materials or goods. The scope of inventory management also concerns the fine lines between replenishment lead time, carrying costs of inventory, asset management, inventory forecasting, inventory valuation, inventory visibility, future inventory price forecasting, physical inventory, available physical space for inventory, quality management, replenishment, returns and defective goods and demand forecasting.
Study on Working Capital Management at PNBProjects Kart
The prime objective of any business is to maximize the value of the company and to maximize the wealth of its shareholders. Working capital management has its own role to play in attaining this goal. Working capital is the funds required for day to day working in a business concern. The working capital management involves deciding upon the amount and composition of current assets and how to finance those assets. There should be a proper trade off between risk and profitability in each decision relating to it. This project work has been undertaken to know the procedures involved in the working capital management in PUNJAB NATIONAL BANK. An attempt is made to study the factors contributing towards working capital and the sources on which the company is depending for funds. The research study was also conducted to derive working capital ratios, to know the performance and efficiency of working capital management and to know the kind of policy adopted in this part of the management. For analyzing the factors and conditions influencing working capital tables and graphs were drawn based on the study. pubjab national bank mba project, summer internship 2017, project reprot, punjab national bank pdf, risk, project report pdf, project report, customer satisfaction in punjab national bank
Study on Mutual Fund is the Better Investment PlanProjects Kart
Mutual funds have become a hot favorite of millions of people all over the world. The driving force of mutual fund is the ‘safety of the principal’ guaranteed, plus the added advantage of capital appreciation together with the income earned in the form of interest or dividend. People prefer Mutual Funds to bank deposits, life insurance and even bond because with a little money, they can get into the investment game. One can own string blue chips like ITC, TISCO, Reliance etc., through mutual funds. Thus, mutual funds act as a gateway to enter into big companies hitherto inaccessible to an ordinary investor with his small investment.
Study on Store Environment and Merchandising Mix at Big BazaarProjects Kart
Retailing consists of those business activities involved in the sale of goods and services to consumers for their personal, family, or household use. Retailing comprises of four elements customer orientation, coordinated effort, value-driven, and goal orientation. The word "Retail" originates from a French-Italian word. Retailer-someone who cuts off or sheds a small piece from something. Retailing is the set of activities that markets products or services to final consumers for their own personal or household use. It does this by organizing their availability on a relatively large scale and supplying them to customers on a relatively small scale. Retailer is a Person or Agent or Agency or Company or Organization who is instrumental in reaching the Goods or Merchandise or Services to the End User or Ultimate Consumer.
Initial Public Offers and Due DiligenceProjects Kart
This report, as the Title “Initial Public Offers and Due Diligence: The Role of a Investment Banker”, is an attempt to bring forth the importance of the process of Due Diligence and the significance of the vital role played by the Investment Banker in managing the issue of an Initial Public Offer (IPO).
When a Company issues an IPO, it means it is going public. The issue of an IPO introduces a great degree of transparency in a Company‟s operations. All the relevant and updated information pertaining to the company is laid down before the investors so that they may make an investment decision. Again, there are set procedures, rules, regulations and laws to be followed in laying down this information before the investors. A document called the Prospectus‟ must be prepared. The Prospectus captures all the necessary information that is to be made available to the investors. Apart from the Prospectus, there are various other company documents that need to be verified and summarized in order to present them before the investors.
Influence of ADR on Underlying Stock PricesProjects Kart
Globalization has opened the door for the investors to avail various investment avenues across the globe. American Depository Receipt (ADR) is one such opportunity to the investing community. The ADR is a proxy for the Indian shares to enable them to be traded in the American stock exchanges. Various studies conducted on Depository Receipts (DRs) have shown that the trading on the DR sin the foreign market has its influence in the home country’s stock in terms of price, volatility and volume. This interested me and this project is concerned about studying “Whether the price fluctuations of ADR affect the corresponding Indian share prices?”
After the liberalization of the economy in 1991, the corporatist started sourcing their capital from both domestic and foreign markets. The Indian shares cannot be directly listed in the American stock exchanges. ADRs have been very helpful in this purpose. So a custodian bank receives the shares as deposit and issues receipt to the market. These receipts are issued in appropriate ratio to the shares deposited with the depository. The market players in the stock exchanges trade these receipts.
Impact of ERP on Organizational Functions in Retail SectorProjects Kart
The business environment has changed more in the last five years than it did in the previous five decades. Winning in today’s business climate requires more than just providing high-quality, low-cost products to customers, when and how the customers want them. The ability to respond to new customer needs and seize market opportunities as they arise, without compromising on the profitability of the firm is critical for the success of any organization. Competitive pressures frequently force manufacturers to decrease prices in spite of the fact that their internal costs continue to rise. Enterprises are continuously striving to improve themselves in the areas of quality, time to market, customer satisfaction, performance and profitability. Making informed business decisions in this manner would enable organizations to accomplish their business growth and at the same time enable them to utilize the information to competitive advantage. To make it possible for the companies to execute this vision, there is a need for an infrastructure that will provide information across all functions and locations within the organization and this is the Enterprise Resource Planning (ERP) solution available in the market today.
The Impact of Creativity and Wow Factor in AdvertisingProjects Kart
The approach used in this report is a case study approach. It essentially deals with two aspects; creativity and WOW factor. These two terms have been defined and the impact they have in advertising has been studied. The objectives of doing such a study were to understand creativity, to define it and to find factors that elicit a WOW response from viewers.
Impact of Advertisements on Investors at HDFC Standard Life InsuranceProjects Kart
This project is managing study on “Impact of advertisement on Investors – A case study in HDFC Standard Life Insurance” The scope of study is regarding the advertisements and therefore the presence of HDFC SLIC with relation to in door advertisements and their advertisements & their effectiveness & out door advertisements, however the folks wish to watch them. to understand the notice within the public like better to watch the ads and medium.
Impact of Advertising on Customers in Tata MotorsProjects Kart
The consumer durable market in India has been very competitive in the recent years, with opening up of market for international players due to liberalization; the domestic players are facing a tough competition. So it‟s time for domestic companies to frame new strategies for their production and marketing activities. An evaluation of the effectiveness of the past activities of a company will enable the company in framing these new strategies. Such an effort has been made through this market research to know the http://www.projectskart.com/ on Customers in TATA MOTORS (A case study in AUTO MATRIX, HASSAN).
Recruitment and Selection at Aviva Life InsuranceProjects Kart
The MBA project titled “RECRUITMENT AND SELECTION” Undertaken in AVIVA life insurance.
AVIVA is a UK based insurance group. It has a long history dating back to 1834 and has a joint venture with DABUR groups. Aviva holds a 26 per cent stake in the joint venture and the Dabur group holds the balance 74 per cent share.
It is one of the leading providers of life and pensions products to Europe and has substantial businesses elsewhere around the world.
The project report is about recruitment and selection process that‟s an important part of any organization. Which is considered as a necessary asset of a company? In fact, recruitment and selection gives a home ground to the organization acumen that is needed for proper functioning of the organization.
Financial Freedom through Reverse MortgageProjects Kart
The world population structure shows that population worldwide is ageing owing to exaggerated longevity of older folks and small birth rates in developed and most developing countries. Visit www.projectskart.com for more information. In Asian nation alone, statistics show that variety of older as a proportion of population can show a 107% growth, from 113 million in 2016 and 179 million by 2026 severally.
Financial Analysis on Recession Period at M&M TractorsProjects Kart
Financial ANalysis (also stated as financial plan analysis or accounting analysis) refers to an assessment of the viability, stability and profitable of a business, sub-business or project. Visit www.projectskart.com for more information. It is performed by professionals World Health Organization prepare reports exploitation ratios that create use of data taken from monetary statements and different reports. These reports area unit typically given to prime management mutually of their bases in creating business selections.
Effective Supply Chain Management as a Strategic AdvantageProjects Kart
TSS was established in 1913 and since then it has been in Sirsi. The products have got their own brand image and also customers. Based on the service provided by TSS to its customers we can know how the organization considers its customers and its products to the customers. A study Effective supply chain management as a strategic advantage at TSS is undertaken for assessing the supply towards the customers and to understand the expectations of the customers towards arecanut and its products which will in turn help to take appropriate action by the management for removing the loop holes.
Brand Awareness of Spencer's and Comparative Analysis with Big BazaarProjects Kart
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A project report on benchmarking of hr practices
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DISSERTATION PROJECT REPORT
PROJECT REPORT
ON
“BENCHMARKING OF HR PRACTICES"
Submitted for the partial fulfillment of the requirement
Of
MASTER OF BUSINESS ADMINISTRATION
PROJECT GUIDE SUBMITED BY
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ACKNOWLEDEGEMENT
This project has been made possible through the direct and indirect co-operation
of my academic mentor, ……………….., for whom I wish to express my appreciation
and gratitude for giving me an opportunity to work on this project. I would like to express
my deep gratitude of indebt-ness to my mentor for providing valuable guidance during
the project and the completion of the project without which it would have been difficult
to achieve. I am also obliged to my mentor without whose guidance it would have been
difficult to complete project successfully.
My sincere thank to all faculty members of Institute of Technology and Science,
Ghaziabad for their co-operation.
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CONTENTS
1. DEFINITION 1-2
2. PURPOSE OF BENCHMARKING 3
3. NAVIGATING HR BENCHMARKING 4-6
- BENCHMARKING MODEL 4
-BENCHMARKING PROCESS 4
-STEPS OF A BENCHMARKING PROCESS 5-6
4. BENCHMARKING THE 5 HR FUNCTIONS 7
5. DIFFERENCE BETWEEN BENCHMARKING AND
BEST PRACTICES 8-9
6. FACTORS ENHANCING THE SUCCESS OF
BENCHMARKING PROCESS 10
7. BENCHMARKING BEST PRACTICES, RECRUITMENT
STRATEGIES AVAILABLE ONLINE NOW 11-12
8. BENEFITS OF BENCHMARKING HR PRACTICES 13
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9. RESEARCH METHODOLOGY 14-34
- DATA COLLECTION 15
- DATA ANALYSIS 16
- ARTICLES 17-27
- EXAMPLES OF TOP 10 BENCHMARKING FIRMS 28-30
- SUMMARY OF THE BENCHMARKING INTERVIEWS 31-34
10. FINDINGS 35
11. CONCLUSION 36
11. BIBLIOGRAPHY 37
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DEFINITION
What is Benchmarking?
"Benchmarking is a process for identifying and importing best practices to improve
performance." Benchmarking is not a simple comparative study, simply copying
practices from other organizations, or simply assessing performance.
The International Personnel Management Association and the National Association of
State Personnel Executives jointly developed the following definition for benchmarking:
A comparison of similar processes across public and private organizations to identify best
practices to improve organizational performance. The characteristics and attributes of
benchmarking include measuring performance, systematically identifying best practices,
learning from leading organizations, and adapting best practices as appropriate.
Benchmarking essentially involves learning, sharing information and adopting best
practices to bring about changes in performance. To simplify this, it can be stated as:
'Improving ourselves by learning from others'
In practice, benchmarking usually encompasses:
• regularly comparing aspects of performance (functions or processes) with best
practitioners;
• identifying gaps in performance;
• seeking fresh approaches to bring about improvements in performance;
• following through with implementing improvements; and
• following up by monitoring progress and reviewing the benefits.
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Alan Flower (1997) lists 5 main stages in effective benchmarking:
• Selecting aspects of performance that can be improved and defining them in a
way that enables relevant comparative data to be obtained - in effect, producing
performance indicators that will make sense to other organizations;
• Choosing relevant organizations from which to obtain raw or headline data;
• Studying the data to identify possible opportunities for improvement;
• Examining the procedures of the best-performing organizations to pick up ideas
that can be adopted or adapted to achieve performance improvements; and
• Implementing new processes.
Organizations usually benchmark performance indicators (e.g. profit margins, return
on investment (ROI), cycle times, percentage defects, sales per employee, cost per unit)
or business processes (e.g. how it develops a product or service, how it meets customer
orders or responds to enquiries, how it produces a product or service). For human
resources, three types of benchmarks are particularly appropriate (Matters, 1993).
• Broad measures of performance which take an organization-level view of HR
management, using broad productivity measures like sales per employee, profit
per employee, volume per employee, number of employees per HR specialists,
and other relevant "output-over-input" ratios;
• HR practices focusing on how effectively HR programs and practices are
implemented, and making comparisons with other organizations; and
• HR competencies tracking the knowledge, skills and abilities
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PURPOSE OF BENCHMARKING
• Have an experienced HR Consultant 24/7- just a phone call away.
• Establish solid HR Systems.
• Ensure compliance with Federal and State Employment laws.
• Get difficult, focused HR projects done accurately and quickly.
• Maintain HR Systems on an ongoing basis.
• Recommend systems and establish a timeline for project.
• Establish workers compensation reporting, drug testing procedures, and establish
working relationship with company doctor or clinic.
• Assist with staffing the company as needed.
• Provide assistance with interviewing, reference checking, and benefits sign-up
and initial orientation of new employees.
• Provide ongoing Human Resource support as needed and requested either on-site
or off-site.
• Train an on-site administrative person to handle day to day Human Resource tasks
such as monthly benefits administration, etc.
• Set up personnel files and recordkeeping systems such as Personnel Action
Request Forms, Performance Review systems, job descriptions, etc.
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NAVIGATING HR BENCHMARKING
Benchmarking Model
Benchmarking is the search for industry best practice which leads to superior
performance. The pioneer of competitive benchmarking was the American company,
Xerox Corporation. The company demonstrated the usefulness of observing and learning
from superior performers by benchmarking their competitor. Through the knowledge
they gained they managed to dramatically improve their productivity and significantly
reduce their cost of production.
Based upon the Xerox experience, Robert Camp has developed a model which can be
modified and adapted to suit any functional area, including HR management.
The Benchmarking Process
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Phase One: Planning
Camp has broken the process of benchmarking into 10 steps which progress through 4
phases:
Step 1: Identify what functions, products or outputs are essential practices and should be
benchmarked.
Step 2: Identify external organizations or functions within own organization with
superior work practices for comparison.
Phase Two: Analysis
Step 3: Determine what data sources are to be used. If an organization has up to date
personnel/payroll systems it should be able to measure a range of HR practices and
outputs relatively easily. Valuable information may also be available through personnel
records, surveys or even interviews.
Step 4: Determine the current level of performance. This will enable the gap in
performance to be identified. Camp emphasizes the importance of a "full understanding
of internal business processes before attempting comparison with external organizations."
Baseline measurement also provides an objective basis upon which to plan and act.
Phase Three: Integration
Step 5: Develop a vision for future operation based on the benchmarking findings. Focus
should be directed on the quality of best practice procedures/practices and how these can
be not just emulated, but improved upon by the organization.
Step 6: Report progress to all employees on an ongoing basis. Communication and
feedback are crucial components of benchmarking.
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Phase Four: Action
Step 7: Establish functional goals linked to the overall vision for the organization.
Step 8 & 9: Develop action plans and implement the best practice findings. This should
be the responsibility of the people who actually perform the work. Periodic measurement
and assessment of achievements should be put into place.
Step 10: Update knowledge on current work practices. This is, in essence, the crux of
continuous quality improvement.
The remainder of this paper will focus on how to begin step one, the planning
phase, of an HR benchmarking process, i.e. Identifying what to benchmark.
The discussion will primarily deal with the quantitative measurement of human resource
management. Although qualitative assessment can be a valuable and informative
benchmarking tool, the ease with which agencies can define, and in many cases obtain,
quantitative information makes it a practical starting point from which to develop a
benchmarking process.
Steps of a Benchmarking process:
The basic steps of a benchmarking effort are:
1. Decide what process to benchmark.
2. Study the process in your own organization.
3. Identify benchmarking partners.
4. Analyze the processes of benchmarking partners to identify differences that
account for superior performance.
5. Adapt and implement "best practices."
6. Monitor and revise.
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BENCHMARKING THE HUMAN RESOURCES FUNCTIONS
The Global best practices HR tool examines 44 performance measures in 5 key areas:
1. Cost and Staffing: Compare a series of cost measures, including the total cost of the
human resources department, in addition to a series of staffing measures, including the
number of HR staff to total employees.
2. Recruitment: Assess turnover rates. Determine the timeliness and efficiency of the
recruitment process.
3. Training and Recognition: Review types of training offered and use of incentive
plans.
4. Benefits: Understand methods used to communicate benefits information and the
extent to which contributions are made to retirement plans.
5. Technology and Organization: Examine the types of human resource information
systems used, as well as methods of effective communication and employee feedback.
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DIFFERENCE BETWEEN BENCHMARKING AND
BEST PRACTICES
Are benchmarking and best practices the same?
No, they are not the same. Benchmarking is the process that allows one to identify
potential best practices, i.e. by identifying the best performers; one knows where to look
for practices that might improve their own performance. However, there are different
types of benchmarking and some organizations engage in benchmarking in order to
identify performance targets for their own organizations rather than to look for practices
that make other organizations so successful.
What distinguishes a best practice from a better practice or a good idea?
A best practice is not simply a new idea, but rather a Best Practice is one that meets the
following seven criteria:
1. Successful over Time: A best practice must have a proven track record.
2. Quantifiable results: The success of a best practice must be quantifiable.
3. Innovative: A program or practice should be recognized by its peers as being creative
or innovative.
4. Recognized positive outcome: If quantifiable results are limited, a best practice may
be recognized through other positive indicators.
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5. Repeatable: A best practice should be replicable with modifications. it should
establish a clear road map, describing how the practice evolved and what benefits are
likely to accrue to others who adopt the practice.
6. Has local importance: Best practices are salient to the organization searching for
improvement. The topic, program, process, or issue does not need to be identical to the
importing organization, however.
7. Not linked to unique demographics: A best practice may have evolved as a result of
unique demographics, but it should be transferable, with modifications, to organizations
where those demographics do not necessarily exist.
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FACTORS ENHANCING THE CHANCES OF SUCCESS FOR
A BENCHMARKING EFFORT
A well-designed benchmarking process is essential. However, there are some other
critical success factors, including:
• Senior Management Support;
• Benchmarking training for the project team;
• Useful information technology systems;
• Cultural practices that encourage learning; and
• Resources, especially in the form of time, funding, and useful equipment.
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BENCHMARKING BEST PRACTICES, RECRUITMENT
STRATEGIES AVAILABLE ONLINE NOW
One of the most important services an association can provide its members is the
information necessary to improve its performance. One way to do that is by conducting
benchmarking surveys and then taking a closer look at best practices—summaries of
what individual agencies are doing in areas like workforce planning and healthcare cost
management.
The IPMA-HR benchmarking committee recently completed work on the Healthcare
Benefits Cost Management Survey, and the results are available for free to all IPMA-HR
members. How to handle the growing cost of providing health benefits has posed a
significant problem for public sector employers who don’t have the option of passing
along the costs to customers.
In addition, five best practices summaries in the area of workforce planning are now also
posted to the IPMA-HR Web site at http://www.ipma-hr.org/. IPMA-HR learned from the
original study that many organizations have not begun to tackle the looming Baby
Boomer retirement crisis. For agencies that anticipate a workforce shortage in the next
five to 10 years, workforce planning is the place to start. Take a few minutes to learn
what other agencies are doing by visiting the IPMA-HR Web site.
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The benchmarking committee is also looking forward to sharing information on
recruitment and selection strategies. This is a topic that garners great interest, with
hundreds of members accessing IPMA-HR research products online each month. In late
February, the benchmarking committee launched a survey in partnership with NEOGOV
on this important topic. Results should be available in late spring.
The benchmarking Web site (http://www.ipma-hr.org/index.cfm?navid=128) and best
practices Web site (http://www.ipma-hr.org/index.cfm?navid=127) are easily accessible.
Do not forget to login to access the members-only material.
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BENEFITS OF BENCHMARKING HR PRACTICES
• Affirmative Action Plans.
• HR Policy and Procedures Manuals.
• Employee Handbooks.
• Interviewing Guides and Training.
• Human Resource Department Audits.
• General on-site and off-site Human Resource Support.
• Organizational development.
• Teambuilding.
• Performance Review Systems.
• Attitude Surveys.
• Wage & Salary Surveys.
• Supervisory Training.
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RESEARCH METHODOLOGY
STUDY
This research project is a descriptive type of study on the topic-
“BENCHMARKING OF HR PRACTICES”.
Research Design:
Research Design is simply the framework or plan for a study, which is used as a guide in
collecting and analyzing the data. It is the blueprint that is followed in completing a
study. As the objective of the research is descriptive in form, the research design must be
made accordingly:
• Formulating objective of the study.
• Designing the method of data collection.
• Selecting the sample size.
• Collection of data.
• Analysis.
• Conclusion.
Descriptive research includes websites, books, magazines, observations and fact-finding
enquiry of different kind.
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DATA COLLECTION
PRIMARY DATA: Primary data helps in validation of the knowledge gathered from
secondary data. Primary Data are those, which are collected afresh and for the first time.
The methods adopted for it are as under:
• Observation Method
• Questionnaire
SECONDARY DATA: Secondary data provides the knowledge about the topic of the
research and the company in terms of facts and figures. Secondary data are those, which
are collected through someone else, and users can obtain from websites, books,
magazines, and articles in newspapers.
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DATA ANALYSIS
OBJECTIVE OF THE STUDY:
The objectives of the study are as under:
• To study the purpose of benchmarking the HR practices.
• To study the process and steps of benchmarking.
• Defining the factors enhancing the success of benchmarking efforts.
• To know the benefits of benchmarking.
• To analyze the trends and best practices for using HR for competitive advantage.
METHOD OF DATA COLLECTION: The study is based on the secondary data. The
research tools are the magazines, journals and websites.
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ARTICLES
1. USING HR FOR COMPETITIVE ADVANTAGE- TRENDS AND
BEST PRACTICES
Dr Keith Good all, Senior Associate at the Judge Business School, Cambridge
University
Programme description:
This three-day programme focuses on the relationship between Human Resource
Management and the leadership and management of successful businesses. The
development of the Human Resource function from its early role in ‘Personnel
Management’ to the current emphasis on Human Resource as a ‘strategic partner’ will be
examined.
The course is organised around case studies which detail Human Resource practices in a
variety of industries. The teaching methodology includes short lectures, practical
readings, group discussions and DVD presentations.
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Key focus areas
• Analyzing the roles of HR Frameworks developed by Harvard and Michigan to
think systematically about how HR connects with business needs, with strategy,
and with the environment will be deployed.
• Aligning HR with Strategy what is it exactly that makes HR ‘strategic’? An
understanding of strategy will be clarified and then the programme examines how
HR can be aligned with strategic objectives. Each of the case studies used will
give practical examples of the different ways in which HR can support the senior
management team and the line.
• Winning the ‘war for talent’ and retaining key staff. Starting with the McKinsey
guidelines for winning the war to attract and retain key talent, the programmed
then looks at a detailed case from the pharmaceutical industry. The assumption is
that poor HR practices will always retain staff, but the ones that stay will be the
ones you don’t want.
• Building commitment. A framework for understanding commitment in a high-
performance organization, as opposed to having simple compliance, will be
developed. The cases will also illustrate the different ways modern organizations
build commitment in the workforce.
• Systems thinking. It is important for HR and senior managers to take an overview
of the interactions between ‘people’ and the ‘hard’ aspects of the business in a
dynamic business environment. The McKinsey/Harvard 7-S model will be used
as an example of how systems thinking can be applied to the analysis of
organizational effectiveness.
• Change management and HR. One of the constant themes of modern management
is the need for change. The case of a French cement company in China will be
used to examine the relationship between HR and change management.
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Who should attend?
The course is suitable for practicing HR managers interested in benchmarking their
current practices against international trends. It is also suitable for senior managers who
want to use their HR function as a source of competitive advantage.
By the end of the course participants will:
• have practical frameworks for analyzing the roles of the HR function
• understand the relationship between HR and strategy in a high performance
organization
• have analyzed the use of HR in different types of businesses (high-tech; service;
manufacturing …)
• understand HR as part of a ‘systems’ view of business effectiveness
• be aware of trends and best practice in obtaining, retaining, motivating and
developing staff
• Understand the relationship between HR and change management.
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2. HR PRACTICES FOR HIGH PERFORMANCE ORGANIZATIONS
ABSTRACT:
If Australian organizations are to be competitive, more productive and economically
sustainable, they will require highly skilled knowledgeable, innovative workers and a
relatively stable workforce. An increasing number of companies in the United States and
Europe are implementing management systems and HR practices with greater employee
involvement to increase productivity and quality, and to gain the competitive advantage
of a workforce strategically aligned with the organization’s goals and objectives.
Critical organizational processes such as information sharing, training, decision-making
and rewards are now being moved down to the lowest levels in the organization. This
approach to HR puts knowledge, power, rewards, and a communication network in place
at every level in an organization. If organizations are to be sustainable in the medium to
long-term, employees must be motivated to care about the work they do, to acquire
knowledge-related skills, and to perform.
Greater employee involvement can only be achieved through a carefully managed
process that strives for participation by integrating the individual with the organization to
achieve high productivity and competitive advantage. This process involves restructuring
the work so that it is challenging, interesting, and motivating as possible. Employees at
all levels are given power to influence decision-making.
However, high quality employees do not assure an organization of having a sustainable
competitive advantage or even a short-term advantage. If employees are poorly motivated
or if the correct organizational systems are not in place, the employees’ talent may be
wasted or lost to competitors.
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THE FORCES OF CHANGE:
The organizational events of the last ten years – out-sourcing, downsizing, re-
engineering, reduced organizational levels, acquisitions and joint ventures, high
management turnover, broadened spans of managerial control, rapid technological
change and globalization – are challenging traditional HR and executive development
practices established since the mid-1970s.
The impact can be seen in many ways:
• There are fewer levels and broadened spans of organizational control which
means that organizations are finding it harder to retain talented people;
• Radically changing organizational structures have effectively abolished career
paths and middle management in both the private and public sectors;
• External recruitment of talent has risen dramatically as many HR departments and
their organizations have opted for this soft option rather than developing talent
from within;
• Reduced budgets and more demanding shareholders and other investors have
forced companies to focus developmental resources for optimum return in the
short-term and invest less.
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WHY HR IS NOW BECOMING INCREASINGLY IMPORTANT
• Organizations in Australia have changed significant aspects of their employment
policies during the 1990s.
• The role of trade unions has declined, bargaining about employment conditions
and wages has shifted to the enterprise level and increasing numbers of
organizations are introducing techniques to communicate directly with their
employees.
• There has been a growth in pay for performance schemes, flexible employment
practices, training, performance appraisals and broader job structures.
• The bureaucratic and hierarchical organizational structures have given way to
broader and flatter structures where self-managed work teams have become more
prevalent and workers.
MAJOR CHALLENGES FACING AUSTRALIAN ORGANIZATIONS.
Although there has been a marked decline in the Australian dollar, the ability of
Australian organizations to compete with goods and services from overseas competitors
may have been impaired due to the poor economic health of many Asia-Pacific
economies. Consequently, overseas competitors are able to provide products and services
at a lower price to the detriment of the local industry Australian organizations now need
to concentrate more on highly value-added products and services produced by a skilled
and motivated workforce. This requires that Australian organizations need to take a more
"strategic" approach to HR that will enable them to cope with the challenges resulting
from rapid changes in technology and globalization.
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HR PRACTICES WHICH ARE CRITICAL TO ECONOMIC SUSTAINABILITY
• Employment security
• Selective hiring of new personnel
• Self-managed teams and decentralization of decision-making
• High compensation contingent on organizational performance
• Extensive training and development
• Continuous improvement HR programs
• Reduced status distinctions and barriers
• Trust between management and employees at all organizational levels
• Efficient and effective use of new information technologies
WHAT IS "BEST PRACTICE" IN HR?
There is no single best practice to which all organizations should aspire. Rather, the
literature shows that each firm has a distinctive HR system that represents a core
competencies required for the survival and sustainability for that particular organization.
“Best practices" in HR are subjective and transitory. What is best for one company may
not be best for another. What was best last month may not be best for today. The concept
of "best" is highly subjective and non-specific.
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FACTORS WHICH CONSTITUTE BEST PRACTICES IN HR ARE
• Communications
• Continuous Improvement
• Culture Consciousness
• Customer Focus & Partnering
• Interdependence.
• Risk Taking
• Strategy and commitment.
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IMPLEMENTING HR PRACTICES AND POLICIES
When implementing HR practices and policies, managers should note that HR practices:
• Cannot be "copied" from one organization to another.
• Must be implemented with regard to the organizational context of a particular
firm.
• Are more effective, and can produce a synergistic effect, if they are
complementary to each other.
• Require significant planning, resources and effort.
• Necessitate that people who are expected to assist with the implementation of the
new HR practices must be consulted and be a part of the planning, development
and implementation processes right from the start.
There must be an effective management system to support long-term productivity
improvements. Policies and training have to be aligned with HR practices.
Must be broadly complementary to HR policies linked to "high-involvement work
practices" and are thus relevant to explaining the variation in the diffusion of such
practices.
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KEY FINDINGS AND LESSONS LEARNED
The literature refers to some key findings from research and lessons learned. These
include:
• The most striking increases in high-involvement work practices are in the use of
on-line work teams and off-line problem-solving groups.
• Higher levels of managerial tenure had a positive and statistically significant
association with greater increases in the use of high-involvement work practices.
• In newly industrialized countries, investments such as increased training,
performance-based pay, the elimination of status barriers, and more selective
recruitment and hiring practices were assessed by the corporate parent.
• High-involvement work practices may represent "competence-destroying"
change, which is difficult to implement, and may lead to worsened performance in
the short-term.
• Plants that undergo a major disruption in their operations – creating opportunity
for various organizational changes - were more likely to adopt high-involvement
work practices.
Manufacturing technology is necessary but insufficient, without work force commitment
to performance. Any competitive advantage will not be sustained without a skilled,
motivated, and committed management team and work force. Organizations must
enhance work force ability to improve productivity. Technology without a talented work
force is an opportunity that has not been utilized enough.
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NEW ROLE FOR HR PROFESSIONALS
The role of HR departments is being transformed as line managers assume greater
responsibility for a number of people management activities and as HR specialists focus
more closely on integrating HR and corporate strategy. It will become increasingly
important for HR specialists to demonstrate that they can contribute to organizational
efficiency and effectiveness in both the short and long term.
HR professionals can now play a more proactive role by:
• Demonstrating that they understand these employment changes has an impact on
employees and that employee’s experience organizational change in different
ways.
• Realigning the expectations of managers and other employees within their
organizations. HR practitioners are responsible for communicating the need to
understand the changing nature of work and the impact of such changes on the
organization.
• Monitoring how well employees are coping with employment changes where
many employees do not feel that they are effectively making the transitions when
organizational changes and flexible work practices are introduced.
• Providing advice to executive management to adopt a long-term strategic
approach to HRM that is more conducive to the development of employment
relationships based on mutuality of organizational and individual goals and
expectations.
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CONCLUSION
There is significant evidence in the literature to indicate that a strategic approach to HR
policies and practices in Australia has been largely pre-occupied with strategy in its
narrowest form. An explanation of this may be that strategic HR practices have been used
opportunistically rather than strategically, and the approach by HR specialists and their
CEOs has been overridden by the need to survive and grow in an increasingly complex
and volatile economic environment. Unlike their financial counterparts, HR specialists
are often ignored when strategic business decisions are made. This supports the belief
that the material considerations for long-run strategic decisions placing HR as the critical
function in corporate strategy do not exist.
Organizations that continue to seek solutions to their competitive challenges by
downsizing, outsourcing and weakening their organizational culture are now "on
borrowed time" and will not be sustainable. Organizations need to match HR policies and
practices with long-term business strategies required to compete in the global market
place, and generate employee commitment and retention over the long-term. HR
practices are required that are incremental and collaborative and provide the opportunity
to employees to make decisions affecting their work and to share in the rewards of their
creative efforts.
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EXAMPLES OF TOP 10 BENCHMARKING FIRMS
THE TOP 10 BENCHMARK FIRMS IN RECRUITING AND TALENT
MANAGEMENT
The very best companies in recruiting are constantly striving to improve everything they
do through continuous learning. One of the best learning tools at their disposal is
benchmarking, which often provides learning that can be applied immediately.
Unfortunately, unlike many other professions, there is no standard measure as to what
makes a recruiting function world class, which might provide a list of which firms are
benchmark worthy (for benchmarking to be truly beneficial, all parties involved must be
able to learn from each other).
The Top Ten
1. First Merit Bank. Some may find it hard to believe that the most strategic and
innovative approach to recruiting isn't found inside one of America's most recognized
companies, but rather from this bank headquartered in Ohio. In addition to a great referral
program, they are the best in understanding how recruiting can adopt successful
approaches such as data mining, customer relationship management, competitive
intelligence, and assessment metrics from other business functions.
2. General Electric. Long recognized as "the" benchmark firm when it comes to building
a performance culture, GE wins hands down as having the best overall talent
management strategy. They prioritize jobs and focus on "game changers." Their
employer-of-choice brand is second to none and they are among the leaders (along with
Home Depot) in recruiting from the military.
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3. Microsoft. Giving GE a run for their money as best in talent management is Microsoft.
They excel at workforce planning, redeployment, utilizing analytics, and leveraging the
internet. They are also truly world class when it comes to the effective use of contingent
workers. Microsoft was also ranked #57 on Fortune Magazine's 2005 100 Best
Companies to Work for in America.
4. Wachovia Corporation. This hands-down leader in diversity recruiting is also well
versed in utilizing metrics and running a fee-for-service recruiting model capable of
actually generating revenue by selling excess recruiting capacity to other organizations.
Their recruiting strategy is world-class in a relatively conservative industry.
5. Starbucks. Given the "less than glamorous" nature of the retail industry, the approach
taken by this coffee giant to employment branding and becoming an employer of choice
is phenomenal. They also excel at high-volume hiring. Starbucks was ranked #11 on
Fortune Magazine's 2005 100 Best Companies to Work for in America.
6. Marriott International. This hotel giant was one of the earliest adopters of
employment branding, and one of the few companies to maintain a dedicated focus on the
art. While they still excel in employment branding, their diversity recruiting and work
with the disadvantaged are world class by any standard. Marriott was ranked #63 on
Fortune Magazine's 2005 100 Best Companies to Work for in America.
7. Southwest Airlines. The clear winner for innovation in recruiting, this company not
only excels in selection but also scores huge in branding with the launch of its own TV
show (Airline). Every employee periodically receives productivity and financial reports
so they can act more like owners.
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8. Booz Allen Hamilton. The things that set this professional services firm apart from the
competition comprise a laundry list of "must have" programs for professional-level talent.
In addition to these programs, they also excel at employment branding. BAH was ranked
#75 on Fortune Magazine's 2005 100 Best Companies to Work for in America.
9. Valero Energy. Managing in a place "run by CPAs" requires extraordinary metrics,
and Valero comes through with the best metrics in recruiting, bar none. Their use of
regression analysis for workforce forecasting is truly best in class. In addition, they have
development metrics that demonstrate the relationship between recruiting effectiveness
and stock price per share, and they have created a sourcing channel report that
demonstrates the ROI in the effectiveness of their best sourcing channels. Valero was
ranked #23 on Fortune Magazine's 2005 100 Best Companies to Work for in America.
10. T-Mobile. Excellent work in nearly every aspect of recruiting, T-Mobile is a stand
out in both the usage of metrics and online candidate assessment. In 2004, T-Mobile set
out to demonstrate the business impact of recruiting and succeeded beyond expectations.
With a largely tech-savvy target audience, they also excel at innovation in Internet
recruiting.
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A SUMMARY OF THE BENCHMARKING INTERVIEWS
The overall trend in the delivery of modern human resource practices is to refocus the
traditional orientation of the Personnel Office from conducting transactions alone to
combining service delivery and strategic planning. For example, at Genzyme, Human
Resources (HR) is 70% a business partner and 30% a service provider. Johnson&
Johnson has organized HR into three segments: Thinkco, Touchco and Serveco. Thinkco
is a strategic unit providing direction to individual areas; Touchco exists within the
business unit to deliver specific human resource practices; Serveco handles human
resource transactions across the organization.
In the aggregate, three key factors are necessary for high level human resource practices:
strong leadership, clear organizational values, and ongoing measurement. Success
requires faith in administrative processes, use of technology, and high-level involvement
of HR in the overall strategic planning for the organization. Every organization the team
interviewed cited the critical importance of high-level leadership to advocate for change
and to clarify the focus of future human resource practices.
To better define and clarify the values of the institution or corporation, several
organizations have specified human resource principles that provide a basis for the
development and implementation of new practices. For example, one multi-national
organization developed a process to review practices world-wide, after which it issued a
statement defining seven principles of leadership and appointed people to guide the
subsequent implementation of new human resource practices.
These organizations used employee surveys, exit interviews and cross-functional
meetings initiated by HR to measure the success of changes in human resource practices.
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Common Themes
Certain approaches to human resource practices were fairly common across many of the
organizations interviewed.
1. Planning and Appraisal
In general, planning and appraisal processes focus on developing the individual; letter
grades are not used. Several organizations use a "360" evaluation tool in which
subordinates, colleagues, and supervisors contribute to an individual's evaluation. An
important outcome of this process is a training plan that links both the needs of the
individual and the goals of the organization. Positive, honest feedback is critical.
2. Individual and Team Development
The key to individual and team development is training. Characteristics of successful
organizations include: budgeting training expenses and releasing individuals to attend
training sessions; providing centralized core training appropriate for the job; training
managers, coaches, and supervisors in work and family issues; and providing training
specifically tailored to the needs of teams.
3. Career Planning
Consistently, career planning is described as being the responsibility of individual
employees. Several organizations said, "the job belongs to the company; the career path
belongs to the individual."
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4. Hiring
Technology is widely used by central HR for recruiting, hiring, retaining and assessing
performance and competencies. Nevertheless, screening, interviewing and final decisions
remain the responsibility of the business units. The documentation supporting these
transactions is processed and stored electronically. The organizations believe this
technologically enhanced hiring process is valuable to both the internal and external
candidates.
5. Succession Planning
Succession planning is of growing importance to organizations as they come to realize
that professionals who have achieved a high level of success within a particular discipline
have not necessarily developed all the competencies for leadership. Several organizations
have taken specific steps to develop new leadership. For example, Johns Hopkins has
established a Leadership Institute that may contribute to succession planning.
6. Job Design
Successful job designs offer flexibility; are guided by what needs to be done; and meet
the demands of the marketplace.
7. Classification
Job classification remains the responsibility of central HR. Problems occur when
standards for classification are not applied.
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8. Compensation/Recognition/Other Rewards
Total compensation and rewards are being desegregated into base salary, discretionary
bonuses, and non-financial recognition. For example, AT&T provides cash awards for
ideas which lead to cost saving. At Lucent Technologies, bonuses are based on a
combination of individual merit, the performance of the business unit, and the
performance of the corporation.
Together, the experiences of these organizations offer guidance to MIT as it works to
expand its human resource practices, to deliver base line services more efficiently and to
develop the workforce to meet the strategic needs of the Institute.
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FINDINGS
There were many findings which were made from the study which are as follows:
• Benchmarking establishes HR systems.
• It ensures compliance with Federal and State Employment Laws.
• It maintains HR systems on an ongoing basis.
• Steps of benchmarking process are very effective.
• Areas which are benefited by the benchmarking practices.
• The Top 10 benchmarking and their strategies for success.
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CONCLUSION
"Benchmarking is a process for identifying and importing best practices to improve
performance." Benchmarking is not a simple comparative study, simply copying
practices from other organizations, or simply assessing performance. Benchmarking
helps in establishing solid HR systems and maintaining HR Systems on an ongoing basis.
It also helps in recommending systems and establishing a timeline for project. It also
helps in assisting with staffing the company as needed. There are various benefits of
benchmarking. It helps in making affirmative action plans and thereby makes HR policies
and procedures manuals. It helps in enhancing Teambuilding. The Performance Review
Systems are made effective by practicing benchmarking. Wage & Salary Surveys are
done to make the existing policies more effective.
Hence, Organizations usually benchmark performance indicators (e.g. profit margins,
return on investment (ROI), cycle times, percentage defects, sales per employee, cost per
unit) or business processes (e.g. how it develops a product or service, how it meets
customer orders or responds to enquiries, how it produces a product or service).
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BIBLIOGRAPHY
www.benchmarkoutsourcing.com
www.gibs.co.za.com
www.globalbestpractices.com
www.osp.state.nc.us
www.dpc.wa.gov.au
www.qut.edu.au
Article Reviews:
www.ere.net
The Top 25 Benchmarking firms in Recruiting and Talent Management.
www.fsed.org
HR Practices for High Performance Organizations.
Flower, Alan. 1997. How to: Benchmarking? Personnel Management. 12 June.
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