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Introduction
This paper will seek to analyze and research two different research papers related to the area of Human Resource management practices. This paper is intended to refine the research topic selected for the final literature review. My literature review topic is the impact of HRM practices on turnover, productivity and corporate performance.
“The effect of human resource management practices on corporate performance: a study of graphic communications group limited” is the Research paper that I have referred to refine my literature review (Boohene, 2010). With the help of my area of literature review, I am trying to find the factors that are responsible for high performance at work place. Research gap that I am trying to address is the find the impact of training hours, performance appraisals etc. Few of the questions that are helpful in analysing the high performance of a corporate are:
“How much percentage of workforce receive received the formal appraisal based on their performance?”
“How many non-entry level jobs are filled in the recent years.?”
“What percentage of hired people appeared for the screening test before joining?”
“Is there any company scheme that shares profit with the employees?”
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These questions will narrow down the gap and provide an insight about how these parameters are responsible for high corporate performance.The first research paper picked to seek some clarity on the research area is the impact of HR practices on the corporate performance. It is research paper that evaluates the several reasons for high performance with the help of an example case of Graphic Communication Group Limited. It is a state owned corporation, hence the impact of recruitment, training and performance appraisal is significant. With the help of T-tests this paper establishes a correlation between the corporate performance and effective recruitment and appraisal performance practices. The research in the paper is somewhat similar to what my area of interest is trying to identify. The paper talks about the people and their importance to an organization. Without any competitive people, it is impossible for the company to grow and compete in the market. Hence, utilizing the capable resources in the best way is the key to meet the challenges. The company considered is GCGL, which is a state owned organization working in the field of media. The company has to generate their own funds. Company was hardly making any profits and was not even closer to the break even. Soon after the HR restructuring and policy revamp, company saw a significant change in the profits and revenue.
Research Framework Adopted
The research is based on four parameters. Below are the parameters that are considered to to establish the relationship between people management and organization performance.
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Employment recruitment, selection and corporate performance: This process starts with the selection of the correct pool with competitive application pool. The recruitment team should have the knowledge for making the decision about recruitment and selection (Mullins, 1999). If the process is refined and organized, it is highly probable that competent candidates will be hired. Hence, this is the first hypothesis and learning from the journal that how can recruitment process can impact corporate performance.
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Performance appraisal and corporate performance: It is imperative to give a consistent feedback to the employees and conducting review process for them. Reward management and appraisal is based on organizational strategy (Waal,2007) and it is executed by the HR department. Hence, there is direct relation between the performance appraisal managed by the HR department and the corporate performance.
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Employee reward management and corporate performance: Rewarding people fairly is the first move that a company has to take to keep people happy. As a result, people show commitment to the job and it promotes a positive environment in the company.
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Training and Development and corporate performance: Providing formal and informal training (Huselid,1995) to the employees is imperative for the company. Any positive development change will be reflected in the productivity.
As per the data collected by the company has a skewed sex ratio with higher number of male candidates and fewer number of female candidates. Higher number of people are youth and company did restructuring in the year 2003. T-test results were positive for the employee recruitment and performance appraisal hypothesis. However, it resulted in the negative results for the employee benefit and reward management practices. The last parameter also resulted in the negative value for the t-test indicating that training and development is also not effective. However, it is possible in case of GCGL that employees are not motivated to apply their training in the job. Hence, the limitations of the paper are it is based on the focus data collected from the state owned organization.
Research paper two briefing (Lamba, 2013)
This paper also highlight the positive impact of recruitment, training, compensation, promotions and welfare. It is closely related to the high performance in corporate. It helped in in aligning my thoughts and research about the changes that performance appraisal and compensation has on the corporate performance and productivity of the employees. The paper points out how the employee commitment to the organization can be improved by making changes to the policies. The primary focus of the paper is on how an organization can make people trust and win their belief. Using fair and equitable HR practices, it is possible for the company to inculcate a sense of bonding. As a result, employee are more productive and work towards the goal set by the organization.
The paper deals with different models of commitment and their impact on the organization and the employees. Few models are Continuance commitment, Normative commitment and affective commitment. There is a direct relationship between implementation and execution of the HR management policies fairly and winning the trust of the employees. As a result employee stick with the organization for a longer period of time. It helps an organization in achieving the stability and retention of the talent pool. That affect the overall company performance. It is hard for the technology firms to retain skilled employees without any strategic change that looks after the need of employees.
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Boohene, R., & Asuinura, E. L. (2010). The effect of human resource management practices on corporate performance: a study of graphic communications group limited. International Business Research, 4(1), p266.
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Mullins, J. L. (1999). Management and organisational behaviour. London: Prentice Hall.
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Waal, A. A. de (2007). Strategic performance management: A managerial and behavioural approach. New York: Palgrave Macmillan.
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Huselid, M. A. (1995). The impact of human resource management practices on turnover, productivity and corporate financial performance. Retrieved from http://www.markhuselid.com/articles.html.
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Lamba, S., & Choudhary, N. (2013). Impact of HRM practices on organizational commitment of employees. International Journal of Advancements in Research & Technology, 2(4), 407-423.
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