New markets in Asia Low inflation Low inflation Weak competition Weak

New markets in asia low inflation low inflation weak

This preview shows page 35 - 41 out of 41 pages.

New markets in Asia. New markets in Asia. Low inflation. Low inflation. Weak competition. Weak competition. THREATS: WEAKNESS : Increased govt regulation. High labour cost. High taxation. Poor industrial relation. Shortage of skilled labour. Reputation of poor customer service.
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HR Practices Corresponding to stages of Organizations Life cycle Life Cycle Stages HR practices Start-up Recruitment of highly motivated and committed employees Competitive pay No unions Growth More sophisticated recruitment and selection Training and development Performance management processes Developing stable employee relations Maturity Attention to the control of labour costs Focus on increasing productivity Decline Emphasis on rationalization of workforce and downsizing Trade unions have a marginalized role Retraining and career consulting services
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IMPORTANCE OF STRATEGIES Strategies helps to create – Game plan for running the business. Strengthening the companies competitive position. Set up vision direction. Set up mission statement. Setting objectives
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Linking HR objectives with Corporate objectives Discuss with the various other departments about their requirements for :- Manpower Recruitments Replacements Training etc
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Once you get their departmental requirements, HRM develops recruitment /selection plans training plans / programs rewards plans / programs development plans / programs payroll plans / programs performance management plans
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Which is converted into company HR policies HR procedures HR practices HR plans Eg: entering European market
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