People Management, The Mantra for Success: The Case of Singhania and Partner
Recruitment and Selection
People form an essential part of the organization. The efficiency and quality of its people determines the outcome of the organization. Therefore choice of right people and placing them at right place becomes necessary. Hiring comes at this point of time in the picture. Hiring is a strategic function for HR department. Recruitment and selection shape the process of hiring the employees. Recruitment is the methodical process of generating a pool of qualified applicants for jobs within an organization (A Project Study on Recruitment and Selection, n.d.).
The recruitment and selection process that is currently used at Singhania and Partners is one that they take very seriously. They had adopted the notion of matching the needs of the organization to the needs of the applicants in order to enhance the effectiveness of their recruitment process. The result has been a workforce that stays with the organization longer and performs at a higher level of effectiveness. This is an area that the firm currently has a good handle on and does not need to work on improving this.
Training for Cross-Cultural Adaptation
As in all business, communication is at the heart of effective international business. Because each culture has its own method of processing information, though, a multinational company must pay special attention to how it communicates, beyond language. In order to manage personnel, train staff, interact with clients or negotiate with vendors, cultural understanding is vital. When taken into consideration, the cultural facets of business can result in global success. When ignored, they can prove to be expensive in terms of failed training, organizational problems, lost business opportunities, and more (Cultural Services, n.d.).
Singhania and Partners is more and more moving into the global market area and because of this they have a need to cross train their employees culturally. This is an area in which the company needs to improve. They need to design and implement a good culture cross training program in order to assist their employees to succeed when doing business outside of their own country.
The content and duration of cross-cultural training may vary widely. Cultural familiarization training could range from brief introductions less than one day to concentrated orientations for several days or a week. On area that must be included is that of language training. This training may vary from brief survival language instruction to extensive, immersion training, aiming for entire spoken and written fluency. Host language capability may serve several purposes. Besides aiding communication with locals, it may also show an attitude of attempting to learn about the host culture, allowing one to be polite, and permitting cultural understanding not otherwise possible. Another area that should be included is that of environmental briefings. These normally include information that is essential for practical arrangements, such as, information about geography, climate, housing and schools. Training courses may also include anything from industry or market related information to essential business details of the firm's operations in the host country (Selmer, 2005).
This is an area in which Singhania and Partners does not currently address in their current practices. Because they are just now getting into the global businesses environment it is not something that they have had to worry about before. Now is a good time for them to develop and implanting training programs so that they can make sure that they are as successful on the global front as they have been in India.
Management Development is best described as the process from which managers learn and improve their skills not only to benefit themselves but also their employing organizations. In organizational development (OD), the effectiveness of management is recognized as one of the determinants of organizational success. Therefore, investment in management development can have a direct economic benefit to the organization. This process generally includes development of cognitive thinking skills like idea generation, and decision making, behavioral skills like choosing appropriate attitudes and values, and environmental skills like suiting management style to the situation skills (Management Development, 2012).
Although Singhania and Partners appears to relatively well at producing good managers this is an area in which it would not hurt to put some extra effort into. This is especially true due to the fact that the company is beginning to heavily do business in the global market. Developing their managers will allow them to increase their strength competitively while intensifying their culture of contented employees.
Performance appraisal can promote both the institutional development of the organization and the personal development of the people working within it. Integrating personal goals and organizational goals is an elusive but desirable objective, especially at a time when many workers feel alienated. Mistrustful or even hostile relationships between managers and the front line employees are signs of poor organizational health. A well conceived, skilfully managed system of performance appraisal can be a useful tool to promote communication between supervisors and other employees (Jensen, 1997).
Even though money isn't everything, it certainly is one of the top things that prospective employees look at when interviewing with new companies. Whether one is offering a straight basic salary arrangement or an incentive-based pay structure may make or break a person from accepting a job. A standard base pay program offers fixed salary ranges for each position category for workers performing the standard duties of their jobs. A company should set up least and maximum levels within those pay ranges to account for differences in knowledge and skill levels. "When setting the base pay structure, it should be determined where a company falls within their own industry as well as competing industries that may also offer job opportunities for employees. Pay levels should be set up to be competitive, or else one risks losing employees. A company can use the Internet to find industry-standard salary levels for specific jobs in specific geographical areas" (Obringer, 2012).
Once the base pay structure is determined, most companies then set up a merit pay program that will take the worker through the salary range for their position at a performance motivated speed. This comes into play when the workers managers do annual employee performance reviews. The disadvantage of this is that employees may begin to see it as a given that they will get a salary increase after each evaluation, and it ceases to be a motivation to execute better in their jobs. For this reason, more companies are moving toward more of a reward-based compensation system, known as Incentive Compensation (Obringer, 2012).
Incentive compensation is becoming much more common because of the augmented importance on performance and competition for talent. This kind of compensation structure significantly helps inspire employees to perform well. Hiring bonuses are also regularly used now, even for new college graduates. However, one might want to tie in a specific time period prior to the worker collecting this bonus. If not, one could run the risk of the employee departing after that first check, which would defeat the entire purpose. If a business is in an industry where one really has to contend to get good employees, setting up an incentive-based compensation program necessitates the same research into the industry as the base pay program (Obringer, 2012).
Singhania and Partners currently has a compensation plan that is based upon annual reviews along with incentive increases that are handed out by management when they feel it is appropriate. Although this plan appears to be working for them at the moment, with the increase in competition that is happening in the market, it would be a good idea for the company to design a more formal compensation plan. This would allow everyone to know where they stand at the moment and what goals they can set…