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Four Major Domains of Hrm

Autor:   •  March 8, 2011  •  Essay  •  862 Words (4 Pages)  •  2,257 Views

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Four major domains of HRM

1. Acquiring human resource capability;  Ernst & Young as an organization believes in referral mode to recruitment (Program name: Parichey; for each referred case inducted the employee is credited proportion of the agreed salary);

 The Recruitment division under HR is a big team wherein a big repository of filtered resumes is stored segmented under various skill sets and focus domains. As and when there is any requirement from the departments for team expansion, the turnaround time is ‘Just-in-time'.

 This team also has a cut-off list of institutes they would work on backwards with to gauge talent on-time by way of visiting campuses and making corporate presentations;

 A big chunk of the staff base qualification is Chartered Accountant; E&Y has the chairman of ICAI as an employee in the firm for 360degree support in picking up the best of the lot every year;

 External consultant route is the last mode to procuring relevant and best resumes from market;

 Pls. Note: E&Y has staff strength of 3500+ employees and has a long-term plan to take this figure to 10,000 by end of 2010.

2. Developing human resource capability;  E&Y has a strong training sub-division under HR. A proper training calendar for the entire year is displayed on-line and in form of posters across the organization for awareness and good turnaround;

 Soft skills and technical skills training is conducted by in-house experts across functions and levels;

 Employees are entertained to identify and nominate themselves for external short-term/long-term training programs conducted by renowned institutions/ agencies on a regular basis;

 To bring in relationship between Performance and learning, training is a key factor in annual appraisal process & in Balance score card (BSc);

3. Rewarding and compensating human resources; and  E&Y has a very strong appraisal system (Performance Management & Development Program ‘'PMDP') for all in the firm. On a scale of 5 with 3 being reciprocal to 100% achievement the BSc is mapped under key factors: Market Leadership, People, Quality & Growth; Review of achievement is done every six months;

 Every year a global compensation benchmark survey is done to gauge top 4 players of the market and a corrective analysis is done which is covered as adjustment pay-out with our mid-year.

4. Managing human resources and enhancing productivity and quality of worklife.  Each employee has a unique code which is reference to each transaction in the organization;

 Virtual mechanism to monitor attendance, leave, expenses (web based tool which allows you to connect from anywhere and update the database for weekly time & expense

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