As one of the full time students at the college, it is worth to mention that being able to undertake my course as I work on one of the insurance firms in the country was not an easy task until knew that were it not of the human resource department at Insurance Firm. I was not able to keep with the schedule that was there. Hong Kong AIA Insurance Firm has various departments and many of the employee working were both part-time and permanent employed ones. Insurance Firm was able to manage the high number of employee since it also had reliable mechanisms to be able to comprehend the best way to handle its functions or operations. The HRM department of Insurance Firm was the one that was mandated to handle all the functions and operations of the firm. This means that Insurance Firm depended on the HRM (Human Resources Management) to undertake the running of the functions such as the selection and placement processes, the performance management processes, the Career Development and finally the succession planning function or process. This paper will therefore discuss the HRM process of the Hong Kong AIA Insurance Firm.
Selection and Placement
Selection process is the process of getting or gathering of information for the reasons that an evaluation and decision can be reached for the best candidate to be employed for a long-term of short-term basis. This means that it is the best process that can be used to get the best candidate on board and to be able to offer the needed values in the process that are considered legal and ethical for any selection and placement process. In my organization, it is worth to mention that the ability to get the expected candidate using the process is twofold; first, it means that the decision that will be made by the selection and placement board and the technological aspects that are able to integrate the job design, the job analysis with the selection process. The insurance firm over the years been able to use the help of technology such as Virtual Job Analysis (VJA tools) to undertake background test among other valuable tools that are handy in the process.
The importance of selection and placement to the firm are:
Insurance Firm without any level of element of discrimination is able to fairly evaluate the job applications of all the applicants’ capabilities and differences. It is wise to note that the board that is mandated to handle the process is made of 10 members who have the obligation to support the success of the insurance by making sure that the management gets the best of the employees on board. Nevertheless, it has to make sure that the process is free and fair to all the applicants so does the process must be free from discrimination. It is important that an employee is able to meet the demands and the needs of Insurance Firm. However, for this to be met the employees must be able to manage his attributes, skills and traits, this is what is called employees competencies (Buller ; McEvoy, 2012). For Insurance Firm to meet its needs, it must also be able to manage the competencies of the employees in the right framework and procedures. If this is met, it is expected that the employees will be motivated and ready to work, as a result, there performance and results are expected to increase. The below are the ways that Insurance Firm is able to improve employees performance.
It is vital to consider that training is key to the success of an employee so does Insurance Firm. It is noted that it offers the employees knowledge and skills needed to handle chores, roles and responsibility. In view of the same, it is vital to state that the performance of the employees are dependent on the level training offered (Flamholtz, 2012).
Strategically managing employees is not the core activity of Insurance Firm but is not less important than other core functionalities. Without well organized and good staffing achieve of goal is either impossible or inefficient. Strategic HR management assignment of Right Person at Right Place and Right Time. Strategic HRM goes for settlement of weakness and challenges in performance (Armstrong ; Taylor, 2014). It includes proper staffing, regular monitoring/reporting, performance appraisal, punishment and reward, remuneration and incentives. Additionally strategic HRM will cope for growth and development opportunities for employees. So as a whole strategic employee management thinks for long term benefits for employee, their social status and for organization itself too.
Managing attitude and behavior means the attainment of mechanism to motivate, reward and punish the employees respective to their performance. If the employee are lagging on organization need and expectations then empowerment, refreshment and development programs should be conducted. Regular monitoring, recommendation, performance appraisal, recognition of their ability and letting them know management is concerning their career development will help employees feel good toward Insurance Firm on long run. Among those three HR activities Managing Employee Attitude and Behavior is most challenging.
Other two activities are objective phenomena in which we can distinguish what is right/wrong and they have concrete value but when it comes to subjective phenomena of attitude and behavior it is hard to perform (Armstrong ; Taylor, 2014). Because the recognition of problem occurrence, need of correction or need of appraisal is depending upon mentality of manager. When an employee is performing not as expected then it is hard to measure up to what extent he is lagging and how much motivation do he need. Moreover in current world people behave vast different from what they think of (Bratton ; Gold, 2012). Then a fire will be burning inside without visible smoke. Therefore, manager should be able to care and cure the situation wisely.
The other way to ensure that the employee’s attitudes and behavior is in order is by making sure that they are well rewarded as well as given incentives from time to time. It is ideal to note that there are various ways that employees can be rewarded. The first way to make sure that this is done is by offering better rewards to the employee but this has to be done in a clear manner (Kim, 2012). For this reason, it is evident that the employee has to be taken through various ways to make sure that the reward given to the employee right; this must be given as a result of better performance. But for those that are not able to keep better performance should also be punished using the same regulations and policies as denoted by the organization (Jiang, Lepak, Hu & Baer, 2012). Besides, it is also ideal that better performing employees should be given incentives. Promotion of employees is also one of the ways that can be considered as reward system.
The best way to increase their performance of the employees in Insurance Firm is to make sure that there is a compensation plan that meets the expectations of the employees. In view of the same, it is clear that organizations should make sure that they use various types of compensation plan approaches. Mostly used approaches are internal and external approaches to compensation (Bratton & Gold, 2012).
A compensation plan comes with outstanding incentives and rewards systems. Incentives are motivational elements used by organization to increase the performance so does the productivity of employees in Insurance Firm (Bratton & Gold, 2012). There are two type of incentives that are mostly used by organizations: financial and non-financial incentives. An example of financial incentives are wages and salaries while non-financial incentives are appreciation of work done and feedback of their performance appraise. On the other hand rewards are given to employees after a successful performance in Insurance Firm (Buller & McEvoy, 2012). It is a way to increase the level of performance hence one of the best management strategies for the employees.
There are various ways that the organization can be able to increase or boost the employees development something denoted as employees growth in order to boost their competencies. First, coaching and mentoring is one of the ways that organization is able to improve the ability of the employee(s) in order to boost their competencies (Flamholtz, 2012). This means that coaching will be the best way to ensure that the employees get the needed information that can be used to foster change and success in the growth as well as creation of skills, traits and attributes. The other factor that can be used to develop and employee is using personal development. This entails creation and growth or emotional balance as well as intellectual growth. Lastly, the other way is to ensure that the employees are aware of career development goals and objectives. It is considered that most employees do not understand the meaning of career development so does its importance. With the above issues raised, it is possible that all the employees are able to develop towards the right employee competencies (Jackson, Schuler & Werner, 2011).