ANALYSIS OF HUMAN RESOURCE



Analysis of Human Resource Management of a Fortune 500 company

Analysis of Human Resource Management of a Fortune 500 company

Introduction

Human resource management (HRM) plays crucial role in success of any organization. Human resource or human capital as it is widely called in today's world, is the most important assets of any organization. The growth and success of any organization depends upon its human resource. How a company manages it human resource determines its future success. According to (Oysterman 1988, Pp. 12-36) it is next to impossible for any company to achieve its set goals without valuing its quality human resources. A highly motivated workforce can increase the productivity of the business as motivation has direct impact on the performance of employees. (Oysterman 1988, Pp. 12-36) In this paper, a company listed in fortune 500 list of companies would be selected as to analyze its current human resource practices, challenges it possess and how such problems can be resolved.

Main function of human resource

Identifying the functions of HR department of an organization is essential actually, as to understand its role and importance in any organization, whether commercial or non-commercial. The functions HR plays are as follows:

Recruitment and retention

It is the prime responsibility of HR personnel to recruit right person at right position, as hiring inappropriate candidate for the job might result as poor performance and productivity. On the other hand, once the potential staff is hired there is a need to retain it, as the cost recruitment process involves is high as well as if an organization losses a potential employee, than business might have to suffer from loss. Retention of potential employees is necessary in the current environment as to not only keep organization on the track for success but to beat the competitors. (Batt & Doellgast 2005, Pp. 138-164)

In this regard, motivation plays an important role. Different organizations adopt various methods to retain its employees, but most effective and practiced method is employee training, which not only provide the chances for employees to grow within the organization but also this process benefits employees as trained employees can boost the level of productivity. (Becker, Hustled, & Ulrich 2001, Pp. 117-143)

In this study Tesco has been adopted as model organization, and in this study the HR practices followed by Tesco would be analyzed, as to observe the importance of human capital in the growth of Tesco, as it is the giant of supermarkets.

In this report human resource policies and practices at Tesco would be reviewed and discussed to understand, how much importance has been given to human resource by Tesco. A model of commitment has been introduced by the organization that offers training and development to all employees. Tesco's model has been proven very effective and successful for the success of the organization. (Brewster 1995, Pp. 1-21)

HR has been implemented by the organizations not as the replacement for old-model personnel department but as a change agent. Though evidence collected within UK demonstrate that after the implementation of hr ...