Human Resource Management XYZ Company Pvt Ltd †Free Samples

Question: Discuss about the Human Resource Management XYZ Company. Answer: Introduction XYZ Company Pvt. Ltd. is a company based in India that provides technical assistance and solutions to its clients and multinational companies based in China, America and Singapore. The company was started in 1967 and has been able to grab a significant share in the market. XYZ Company has an approximate workforce of 1,450 employees and works 24/7 to provide services to its customers and clients. Problem identification Of late, the company has been experiencing a steep rise in its employee turnover rates, which is causing trouble for the company as there have been a number of instances where the work operations have come to a halt because of shortage of workforce. The high employee turnover rate is also forcing the company to carry out frequent recruitment and selection programs, which is ultimately resulting in a loss of profitability due to increased operational costs. Causes of high employee turnover rates The company has been taking the issue of rising employee turnover quite seriously and has started analysing its human resourcemanagement practices to find out those practices that lack efficiencies and are not being able to help the company in retaining employees. The reasons for high employee turnover rates are discussed below: First of all, the company has Managementnot been designing and implementing sufficient training and development programs for the workforce since the past 8 months. The managers have realised that the employees are not being able to grow their skills and competencies and are lacking motivation that could have helped them in performing better. Lack of training and development opportunities is also killing the chances of career progression and growth for the employees. As a result, the employee turnover rates are increasing (Smith, 2009). Secondly, themanagement has not been able to provide the workforce with work that can increase their levels of engagement in the organisation. The employees feel that their work is boring, monotonous and is not challenging their skills and competencies. As a result, they are less engaged in their jobs and are switching to business organisations that offer better job conditions to them. Thirdly, the employees have also been complaining that the workplace environment is not interesting and is not helping them in growing. The decision making power is hardly delegated in the organisation and the employees hardly have a role to play in the business decision making process. They employees have also reported that the company hardly cares about their needs, which is resulting in demotivation amongst the workforce. Recommendations to improve the situation High employee turnover rate is an important indicator for all business organisations because it can not only increase the operational cost and have effect on the work operations but can also cause a significant damage to a companys market reputation. Some recommendations that can help XYZ Company Pvt. Ltd. in improving its employee turnover rates are discussed below: First of all, the organisation needs to design and implement a new performancemanagement plan. Implementing a performance management plan will not just help in fostering a workplace environment that is driven by performance levels but also help the company in analysing the training and development needs of the employees. By assessing performance of individual employees, departments and the organisation on the whole, it can become easier for the company to identify those areas where the organisation or the employees lack competencies and can arrange suitable training and development program that can help the workforce in learning the skills that they lack. Further, identifying the training needs of the employees and implementing training and development programs will provide growth opportunities to the employees and will increase their level of job satisfaction, which will help in reducing the employee turnover rates (Park Shaw, 2013). Secondly, the management needs to take necessary steps that would help in improving the job attributes for the workforce. The team leaders of the organisation should start delegating authority and provide a certain degree of empowerment to the employees so that they can feel a sense of responsibility and can show a greater involvement in the workplace (Mowday, et al., 2013). Along with empowering the employees in the workplace, the organisation should also start recognizing and rewarding those employees who demonstrate excellent performance levels and contribute towards the achievement of organisational goals and objectives. Such strategies will make the job more interesting for the workforce and they will show high level of job engagement and motivation (Jacobsen, n.d.). Thirdly, the organisation needs to review its recruitment and selection programs and start finding the right fit for the right jobs. Recruiting people that do not fit into the job environment or the culture of the organisation is one of the key reasons that can result into high labour turnover rates. The company needs to deal with those employees who do not fit into their jobs or the workplace and make sure that the next recruitment and selection programs are efficient in finding the right people for the right jobs (Krell, 2012 ). To achieve this, the company should clearly identify the job duties and responsibilities for various job positions and compare it with the candidate specifications, personality and skills to make the right choice. Conclusion XYZ Company Pvt. Ltd. is facing an issue that can be detrimental to its market position and reputation because of too many employees leaving the organisation. If the labour turnover rates are high, the company will not just lose its reputation in the market but even fresh candidates might not want to work with such an organisation that is not able to manage its workforce effectively. As a result, it is important for the company to identify the root causes of high employee turnover ratios and look into the above recommendations so that it can deal with the causes and bring down its employee turnover rations. References Smith, J. L., 2009. 12 Reasons Employees Leave Organizations. [Online] Available at: https://www.peoriamagazines.com/ibi/2009/dec/12-reasons-employees-leave-organizations [Accessed 11 May 2017]. Park, T.-Y. Shaw, J. D., 2013. Turnover rates and organizational performance: A meta-analysis.. Journal of Applied Psychology, March.98(2). Jacobsen, D., n.d. 12 SUREFIRE TIPS TO REDUCE EMPLOYEE TURNOVER. [Online] Available at: https://www.globoforce.com/gfblog/2013/12-surefire-tips-to-reduce-employee-turnover/[Accessed 11 May 2017]. Krell, E., 2012 . 5 Ways to Manage High Turnover. [Online] Available at: https://www.shrm.org/hr-today/news/hr-magazine/pages/0412krell.aspx [Accessed 11 May 2017]. Mowday, R. T., Porter, L. W. Steers, R. M., 2013. EmployeeOrganization Linkages: The Psychology of Commitment, Absenteeism and Turnover. s.l.:Academic press.