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University of Winneba

Human Resource Management

BFG 525

Report on the manner in which recruitment, training and performance review are undertaken at Utrak financial services Ltd

Rebecca Mensah

7111800015

June 22, 2012

Table of Contents
Abstract……………………………………………………………………………….. 3 Introduction……………………………………………………………………………. 4 Statement of the Problem……………………………………………………………… 5 Scope and Delimitation of the Study………………………………………………….. 5 About Utrak Financial Services……………………………………………………….. 6 Vision………………………………………………………………………….. 6 Mission………………………………………………………………………… 7 Recruitment……………………………………………………………………………. 7 Opening of Vacancy……………………………………………………………8 Advertising……………………………………………………………………..8

Selection………………………………………………………………………. 8
Interview……………………………………………………………………….8 Training………………………………………………………………………………..8 Performance Review…………………………………………………………………. 10 Recommendation and conclusion……………………………………………………..10 Reference……………………………………………………………………………... 11

Abstract
This study explored human resource management (HRM) functions of recruitment, training and performance review of staff are carried out in Utrak financial services. Personal interviews were held with some management staff and observing the focal point of the human resource department. This report provides an internal analysis of the company’s human resource functions in order to determine its strength and weakness. Upon completion of the analysis, recommendations and controls are provided that will help Utrak Financial Services Limited address any weaknesses that are identified in their current strategy.

INTRODUCTION
During the first four hundred years of industrialization, it was all about machines, which gradually replaced the human labour. They were so important that humans were not even considered a resource. Not anymore. With information revolution, internet connectivity and the age of customized services, humans are the greatest resource. That makes human resource management, by far, the most important stream of the art of managing business. Literature on Human resources management is fairly rich in terms of academic theories. Success of Henry Ford and his Ford Motors in early twentieth century gave rise to the term 'Fordism' consisting of the theory that high corporate profitability can be achieved by high wages to the employees. Even before Ford, Fredrick Winslow Taylor had propagated the 'scientific management theory' or 'Taylorism' wherein scientific studies of processes were believed to lead to optimum human resource utilization. These 'modernistic' theories suffered from one grave drawback - they treated human beings as homogeneous, ignoring the individual differences in them. Later academic theories, often referred to as 'post-modernism' attempted to correct this folly by admitting that human beings are complex and solutions to their problems cannot be obtained by simple thumb rules (Kumar, 2011). Human resources are by far the most important resources for any organization. Needless to say then that making the best possible use of these resources is crucial to the fate of organization, and hence once of the most important priority for the managers of that organization. What makes it different from other streams of management is the fact that Human resources management or HRM cannot be defined by simple thumb rules, nor can it be taught or explained by simple theories, without a grave risk of oversimplification. It requires keen observation of human traits, sensitivity arising from emotional intelligence, and understanding of human nature like a psychologist.While technology threatens to take over most functions of business management away from the experts, HRM is one field which is unlikely to be faced with this threat. It was, is and will always be an expertise that is as much of a skill as an art,...
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