New markets in asia low inflation low inflation weak

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.

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

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

Linking HR objectives with
Corporate objectives
Discuss with the various other departments
about their requirements for :-

Manpower

Recruitments

Replacements

Training etc

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

Which is converted into
company

HR policies

HR procedures

HR practices

HR plans
Eg: entering European market