Human Resources of Jubilant Holdings - Business Plan Example

Week 6 HR Plan

The management of human resources in an organization seeks to ensure maximum performance of an employee towards achieving the strategic objectives of the employer. The principal emphasis of HR is to manage individuals within an organization, focusing on the systems and policies. Human resource departments are tasked with the obligation of administering the recruitment, development, and training, designing employee compensation and benefits, rewarding and performances appraisal. It is also concerned with the state of the industrial relations and organizational change such as shaping itself to fit into the set government laws and collective bargaining requirements. Specialists within HR organizations concentrate on the organization implementation of its processes and policies as well as managing human capital (Putzier & Baker, 2011). These professionals group themselves to fill every sector of the organization such as focusing on specific areas. For instance, some may choose to deal with employee benefits, others on relations, recruitment, and training. For these specialists to succeed, there needs a human resource plan to run the organization. The HR plan encompasses employee selection plan, training and development plan, compensation package plan, legal considerations and performance appraisal system.

Jubilant Holdings

Jubilant Holdings is a new entrant microfinance organization. It is a company that has played a critical role in filling gaps needed within the financial services industry. It offers microloans or small loans to individuals who fall below the conventional loan services. These credits are for helping these individuals to develop and grow their income-generating businesses. Besides, it has sought to develop local talents to upcoming needy talent holders. In future, it envisions extending its hands to the banking industry. Having started two years ago, it consists of a total of fifty employees. It has grown its customer base since its inception. It seeks to rebase itself to adapt to the evolving market and therefore needs an HR plan as its guide towards achieving its goals.

Recruitment and Selection Plan

Step One: Recruitment Process

Job and person specification: Here the details of the job need to be provided are job tittle, classification code, administrative unit and branch, and section. Besides, job details, there needs to be a specification of the job. For instance, the inclusion of a summary of the purpose of this position, reporting working relations, special conditions, statement of associated activities and key outcomes (MGS, 2013). Regarding personal specification, there needs a statement on important minimum requirements, vocational/educational qualifications, personal skills, aptitudes and abilities, knowledge, experience, desirable requirements, experience, and knowledge.

Attraction. The organization shall advertise with the vision of attaining quality applicants. They can use either external or internal advertising. But internal lateral recruitment is the best option to get some qualified candidates (MGS, 2013).

Step Two: Eligibility

The organization needs to utilize the program eligibility checklist ton ascertain the best candidate is chosen for the interview. They should use the candidates' written application to construct shortlist for the interview.

Step Tree: Interview

Basing on the shortlisted candidates' special eligibility, an interview panel is then created as well as the interview process. The interview should encompass interviewers who are well versed with the recruitment process. During the interview process, there requires identification of a suitable model and method for the interview (MGS, 2013). An assessment process is also drafted and implemented.

Step Four: Reference Checking

It's the essential step towards obtaining a potential employee. It is used for validation of findings. Whoever proves worthy the job is then granted.

Jubilant Holdings Training and Development Plan

Soon after recruitment and selection are complete, the organization will engage itself towards formalizing its operations to the recruits. They have to undergo a comprehensive training and development (MGS, 2013). During the training, recruits should be provided with a clear and well-crafted job description. They should also undergo all steps involved such as employee analysis, setting goals, employee objectives, objectives and the evaluation process of the training and development as analyzed below.

Steps

Details

Employee analysis

Strengths and weaknesses of the recruits: If they are good at welcoming customers

Setting Goals

Clearly defined and measurable: By the end of the training the trainees should be able to explain and demonstrate how customers are assisted from the time they enter the enterprise to the time they get out.

Employee Objectives

Within the context of the training and development process e.g. at the end of this lesson, the trainees should be able to demonstrate how to welcome customers.

Methodology

Major: interactive and facilitative approaches

Others: lecturing

The training must ensure that they are ready to commence their roles, which they will assume under the watch of a supervisor for three months. Jubilant holdings will provide specialists in various fields based on the skills of the candidates. Training and learning resources will be provided, and the training will take five days. At the end of the training, an evaluation will be done on the participants to gauge their level of

Methodology

During the start of the course, the learners will be given introductory notes. The primacy approach that will be utilized in this program should be both interactive and facilitative. Any other appropriate method can be used as long as the participants grasp the concepts fast.

Instructors

For the training to be a success, there need professional instructors from different fields revolving around human resource management. In this case, they should be well versed with micro financing. Such instructors may include specialists in financial management, human resource manager, marketing manager, and at least one Jubilant Holdings manager (Suttle, 2017).

Evaluation

Learners should be given tests in the mid and after the end of the program. Those who do not pass the tests should get another test after receiving further training from the support tutors. During the instruction process, the trainer should involve simulations among the trainees while observing (Suttle, 2017). The trainees should be asked questions during the instruction process. In the end of the program, the participants need to be given self-evaluation forms to answer several questions based on the training. The evaluation process should replicate the objectives and goals of the training and development process.

Compensation and Package for Employees

Jubilant Holdings needs to provide benefits to all its employees in a manner that is in line with the evolving market and government laws. The package and compensation should be used as a motivation tool towards employees (Minnesota Continuing Legal Education, 2012). I events of low retention of employees, the company should soul search itself to ascertain whether there is a discomfort with our compensation and package or not. Contemporarily, Jubilant should provide compensation and package (salary percentage) to full-time employees as follows:

Fringe benefits. Jubilant Holdings will cater for some basic needs of its staff. For instance, there will be the provision of meals during staff working hours and when the cafeteria is open. The meals will be of specific price and those who desire more will have to pay for themselves. Childcare shall be provided at minimal costs for the childbearing mothers at the organization kids' area (Minnesota Continuing Legal Education, 2012). Besides, some utilities need to be available, for instance, the organization needs to have free Wi-Fi services for Internet access.

Health insurance. Utilizing a wise medical insurance policy to families is essential. Jubilant Holdings should ensure that it provides a life medical cover of at least 5% of the basic salary to married couples. A non-taxable full wage can be awarded to employees under the list of group life insurance and group disability insurance such as those on pregnancy.

Housing allowance of 15% of the basic salary. The employee needs to pay for any additional housing costs (Minnesota Continuing Legal Education, 2012). Taxes need to be 7.65% of the salary on Medicare and FICA. Besides, Jubilant Holdings shall contribute 7% of wages and the employee to provide an additional agreeable 4% of salary for a pension. The organization needs to provide discretion to employee soon after he/she reaches the 4% amount. A commission of 5% shall be provided to those who sell our policies and for every client brought.

Leave/vacation. Employees can get a two-month paid leave after completing one year of work in the organization. Administrators and managers can get a three-month leave once they complete a two-year stay in the company.

Legal Issues to Consider

U.S. Equal Employment Opportunity Commission

Jubilant Holdings will always conduct its activities keeping in consideration the legislation ns associated with human resource industry. In the United States, there is an agency that seeks to enforce and administer civil rights laws concerning discrimination in the workplace. This agency is known as the United States Equal Employment Opportunity Commission (EEOC). Jubilant Holdings will ensure that there are no complaints or traces of discrimination in the workplace. Employee recruitment process will be appropriated to all individuals without regard to their race, age, sex, religion, gender and even disability (Putzier & Baker, 2011).

Regarding this policy, the Jubilant will provide any information needed in this agency such as ethnic/racial categories employee information. This will help the company to adhere to its rules and eliminate any form of race-related discrimination. Besides, it will uphold its investigative compliance policy by providing any information under its investigation.

Job Offer

When giving a job offer, it is important to pay according to the services rendered as well as according to the skills and responsibilities (Putzier & Baker, 2011). Payments should rise based on the seniority. Besides, overtime should be paid based on the number of hours verses the service rendered. It is necessary that all these factors are undertaken in a fair and unbiased manner. Furthermore, they should be guided by existing legal parameters in place; the basic minimums should be taken into consideration.

Specific Groups

There are laws that cover specific skills for different groups. These laws set certain requirements that give each individual the best possible chance of succeeding in their workplace. For instance, hiring and recruiting law students should be overseen by the NALP (National Association for Law Placement). As a result, any company needs to be aware of this (Putzier & Baker, 2011).

Performance Appraisal System

The performance appraisal system for jubilant holdings will seek to ascertain whether employees have been performing or not. The system will consist of the following information: objectives, goals, and purpose for it to be conducted and performance appraisal frequency, e.g., a frequency of one year or quarterly. Besides, it will have appraisal interview preparations and a worksheet (Iftikhar, 2014). The appraisal worksheet will help employees to know their specific responsibilities and duties and the expected performances of the job. Appraisal interviews shall be conducted, as they are the most essential in the appraisal process. A two-way communication during interviews helps in knowing the cognitive level of the employee concerning the work. Goals will be set to augment performance. These goals have to be supported, observable, pertinent, measurable, attainable, and specific. At the end of the appraisal process, participants will have to fill appraisal forms where they express themselves. Performance appraisals shall be recorded and preserved in Jubilant Holdings files office. Below is the summary of the appraisal system:

Objectives

Goals

Purpose

Interviews

Worksheet

Conclusion

In conclusion Jubilant Holdings, a microfinance company can succeed well using this human resource plan. In recruitment and selection, the company needs to attract top talents in the midst of a pool of many finance professionals. As a result, adopting the guidelines here can help it welcome the best of the best. Knowing the issues that one has to consider while creating an employee selection plan is essential in keeping the company safe of scrutiny. There must be no hint of discrimination and employees must be preserved by granting them good packages. Performance appraisal system also needs to ensure that it helps employees to raise their working standards and ultimately the success of the company.