Human Resource Management

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Strategic Human Resource Management
(MOD001230)

Aditya Birla Money Mart Limited
Strategic Human Resouce Management

2

TABLE OF CONTENTS
1. Executive Summary
2. Introduction
3. Literature Review
4. Critical Analysis& Recommendation
5. Conclusion
6. Bibliography

Anglia Ruskin University
STUDENT ID: 1235665/1

Aditya Birla Money Mart Limited
Strategic Human Resouce Management

3

Executive Summary

This report provides an analysis and evaluation of the current and prospective Human resource practices of Aditya Birla Money Mart Limited. In the case of this assignment, the data has been collected through Qualitative analysis, which involved interviews with Mr. Joseph Thomas the Head of Research, Mr. Mahesh Gopalan the Head of Human Resource team and Mr. Girish Venkat the Head of Wealth Management Team. This study includes analysis of the web site and the history of the company and the people running the company by adoption of unobtrusive methods.

Data collected from the interviews and research show that the Human Resources practices adopted by ABMML are effective however tinted with some minor flaws. This study of ABMML‟s HR management could have limitations as we have considered a small sample size to collect data and the data collection has had its boundaries. This study has been conducted on the basis of phone calls, messages and emails hence it was difficult to get an appropriate enough response from the managers and employees as such communication may cause discrepancy in the information. This study on that basis is solely dependent on the limited sample response as well as the study of the HRM strategies followed by Aditya Birla Money Mart Limited.

Strategic decisions made by organisations can have a significant impact on staff as new hires, cutbacks or additional training may be required. All too often, senior HR professionals are put in a position of simply reacting toboardroom decisions. In order to contribute productively to highlevel discussions of corporate strategy, HR leaders must have a firm grasp of the key concepts, models and language of strategy. A knowledgeable HR executive working in partnership with an executive team can have a powerful impact on an organisation‟s success (Insead - Business Anglia Ruskin University

STUDENT ID: 1235665/1

Aditya Birla Money Mart Limited
Strategic Human Resouce Management

4

Strategy for HR Leaders, 2012).

Introduction

Human resource planning is a process that identifies current and future human resources needs for an organization to achieve its goals. Human resources planning should serve as a link between human resources management and the overall strategic plan of an organization.“The Human Resources Management (HRM) function includes a variety of activities, and key among them is deciding what staffing needs you have and whether to use independent contractors or hire employees to fill these needs, recruiting and training the best employees, ensuring they are high performers, dealing with performance issues, and ensuring your personnel and management practices conform to various regulations. Activities also include managing your approach to employee benefits and compensation, employee records and personnel policies” (McNamara, 2010)1.

HRM can be viewed as a strategic and complete approach to managing people in sync with the workplace culture and environment. If an organizations‟ HRM is effective, it enables the employees to contribute effectively and efficiently to the overall company direction and accomplishment of the organizations‟ goals and objectives. As defined by Bulla and Scott (1994), human resource planning is „the process for ensuring that the human resource requirements of an organization are identified and plans are made for satisfying those requirements‟ 2 . Reilly (2003) defined workforce planning as: „A process in which an organization attempts to estimate the demand for labour and evaluate the size,...
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