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HRM Of Bloomberg.Com - Case Study Example

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The key focus of HRM research has been to observe the relationship between 'high-commitment management (HCM)' (Wood and Albanese 1995 and Wood and de Menezes 1998 cited in Hoque 1999) or 'high-performance work practices' (Huselid 1995 cited in Hoque 1999) and performance…
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HRM Of Bloomberg.Com

Download file to see previous pages... In spite of such diversity, a large proportion of work in the manufacturing industries too relates services. (Hoque 1999b). While human resources management as a concept attracted a lot of attention as a "more effective and productive approach to managing organizations' key assets, its people", there have been differences of opinion as to whether it is industrial relations management-personnel management (IR & PR) freshly packaged or a totally different discipline "aimed at integrating the management of people into overall business strategy and organizational goals" (Poole, 1990; Salamon, 1987; Storey, 1995b cited in Mc Gunnigle 2000). Three models of HRM have been suggested: normative" (prescriptive of an ideal approach); "descriptive" (identifying developments and practice in the field); and "conceptual" (a model for classification). (Storey 1992 cited in Mc Gunnigle 2000). In the normative model HRM has a "team development" orientation, a "significant role for line managers" and seeks to develop an "organizational culture". The conceptual model differs widely from IR-PR with as many as 27 differences listed. All researchers however agree that employee commitment is not only the dominant aspect of HRM but that it is the main differentiator between HRM and IR-PR. (Storey 1992 and Guest 1995 cited in Mc Gunnigle 2000).
The objective of human resource m...
'Stretch', in this context refers to additional productivity, effective contributions and taking part in continuing improvement processes. The net effect of this would be self-motivated employees, less need for supervision necessitating fewer levels of management and reduced overheads. In addition when organisations achieve a congruence of perceived interests with employees, they are less likely to be viewed with suspicion when they undertake any changes necessary to meet environmental needs. Workforce in such organizations will be willing to swap roles (multi-tasking) that help them in more effective utilisation of labour. (Guest 1987 and Beer et al., 1985 cited in Hoque 1999a, 8)
The most compelling reason for carefully crafting human resources management practices in services industries, is that in the service industries, the customer is not only a recipient of the service but also a part of the service process. This is the reason why there has been a shift in human resource management practices with service firms pursuing strategies that feature greater customer orientation. There is an increased awareness in the service firms that it is critical to obtain customer-oriented behaviours from their employees, a decided shift from the past. In order to achieve these outcomes, service firms are utilizing their human resource practices to "stimulate and reinforce behaviours needed for the successful implementation of greater customer-oriented strategies." HRM practices such as design, staffing, performance appraisal, compensation and training and development are shaped by organisational conditions, such as strategy, organisational life cycle stage, technological change, unionisation, internal labour markets and whether or not ...Download file to see next pagesRead More
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