Human Resource Management Practices in Alcoa

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  • Published : December 11, 2012
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Contents
1.Executive Summary3
2.Introduction3
3.Overview of the company4
4.Recruitment and Selection4
4.1.Introduction4
4.2.Review of Literature4
4.3.Recruitment and Selection in Alcoa5
4.4.Findings and Recommendations6
5.Learning and Development7
5.1.Introduction7
5.2.Review of Literature7
5.3.Learning and Development in Alcoa8
5.4.Findings and Recommendations9
6.Reward Management9
6.1.Introduction9
6.2.Review of Literature10
6.3.Reward Management in Alcoa10
6.4.Findings and Recommendations11
7.Performance Management11
7.1.Introduction11
7.2.Review of Literature11
7.3.Performance Management in Alcoa12
7.4.Findings and Recommendations13
8.Work-Life Balance13
8.1.Introduction13
8.2.Review of Literature14
8.3.Work-Life Balance in Alcoa14
8.4.Findings and Recommendations14
9.Conclusions15
10.Reference List16

Executive Summary
This assignment critically examines Human Resource Management (HRM) practices in Alcoa, focusing on select issues and relating it to the company’s approach to strategic HRM. Relevant theory and literature is reviewed in light of current HRM functions and systems, focusing on Recruitment and Selection; Learning and Development; Reward Management; Performance Management and Work-Life Balance issues. The objective is also to evaluate the company’s approach to strategic HRM and understand how this approach contributes to organisational effectiveness. Recommendations are made which can help to improve the company’s HRM and overall performance. Introduction

In an increasingly fast-paced and competitive business world, companies are striving to find ways in which to improve organisational performance. A strategic and well-structured Human Resource Management (HRM) approach seems to be the trend to follow, as a growing number of successful companies seem confident about the positive impacts of good HRM practices on workforce and firm performance. “Human resource management (HRM) involves all management decisions and practices that directly affect or influence the people, or human resources, who work for the organization.” (Fisher, et al., 2003, p. 7) Although many corporations like to say that people are their greatest assets, it is not always clear how their HRM practices support this statement. Understanding the underlying difference between people and other assets in the organisation is crucial. Effectively managing human resources entails continuous efforts of aligning the personal aspirations and expectations of employees with the strategic goals of the company. It is therefore a logic and significant step to look at HRM from a strategic point of view. “Strategic HRM is an approach that defines how the organization’s goals will be achieved through people by means of HR strategies and integrated HR policies and practices.” (Armstrong, 2009, p.29) This assignment will examine Alcoa’s approach towards strategic Human Resource Management, with a focus on selected HRM practices. References to relevant literature and theories will be used to fundament the critical analysis of the company and suggest different approaches which may positively impact organisational effectiveness. Overview of the company

Alcoa produces primary aluminium and fabricated aluminium, which are utilized for many purposes in aerospace, automotive, packaging, building and construction, commercial transportation, consumer electronics and industrial markets. Alcoa is also one of the world’s largest miner of bauxite and refiner of alumina. The company is present in 31 countries across the world and employs approximately 61,000 people in over 200 locations. Recruitment and Selection

Introduction
Every company must develop ways to find and retain the talent it needs to perform its business. By developing a people resourcing strategy, companies can obtain and maintain the necessary...
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