01 Human Resource Development Assignment Sample
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Introduction
Ernst & Young (EY) is a multinational organization providing professional services to its clients located worldwide. EY Australia provides advisory, assurance as well as consultancy services. The organization offers cash planning, tax compliance advisory, tax accounting and other services (www.ey.com).
HRD opportunities provided in the organization to current or potential workers:
HRD opportunities includes training of employees, career development plans for employees, performancemanagement, mentoring, coaching, tuition assistance, identification of key employees, succession planning, as well as organization development (Borghans et. al, 2018). Ernst & Young provides opportunities to its workforce both outside and within the organization. The three programs run by company for HRD opportunities are-
EY Shared Value Programme:
The aim of these programs is to provide basics to new comers for performing well in initial job. It includes sessions on creativity, teamwork, tradition, history as well as values.
EY Business Leader Programme:
It is a 5 month program for developing qualities of leaders in next generation. Company selects those participants who have global competitiveness as well as all round skills of management. The main focus areas in this are global leadership, problem solving skills and business management.
EY Global Expert Programme:
It is biggerprogram having different periods. The aim is to gain global leads with focus on local cultures, customs,foreign language, practices, for making managers competent for handling global assignments (Borghans et. al, 2018).
Besides these, Ernst and Young HRD Centre includes various innovation and knowledge management practices within its advanced education infrastructure, offering values along with regular assessment of employee’s performance. All opportunities are offered by the company to its employee to develop themselves (www.ey.com).
Informal learning has influenced the organisation’s HRD practices
A learning which is not formal is informal learning. Such learning is experiences based or self-directed. Informal learning is different from formal learning as it has no specific objectives or learning outcomes. Most of the companies training programs are formal in nature. Major investments of companies are in formal learning side. The net outcome can be seen as organizations invest major part of money in smallest part of learning (25 %). Remaining 75 % of learning occurs through own creativity of learner in which he learns from changing scenarios. The informal side of learning is not just bigger but vital in learning new things (Park and Jacobs, 2011).
- Formal training has limited role to play in improving performance of worker in comparison to informal learning.
- One important byproduct of production work of worker is learning.
- Informal spillover of knowledge among peers at workplace is a major contributor for increased productivity (De Grip and Sauermann, 2012).
- Informal learning becomes more critical when there is requirement of changing skills set of employee because of frequent changes in technological aspects.
Ernst and Young is a consultancy firm which provides tailor made solutions based on requirement of its clients. Such business demand exploration of new ways based on experience and trail methods. Company believesthat their success largely depends on informal learning rather than formal learning. Formal learning provides solutions which could be provided by any competitive firms. What differentiates the company is its unique and effective solution which is majorly a result of informal learning of its employees (Rogoff et. al, 2012).
Mentoring and coaching are informal human resource development practices widely used in Ernst and Young for facilitating informal learning. In the approach of coaching, a close association is developed between two people, majorly one is junior andother is senior or his immediate manager who is having much experience (Ainsworth and Eaton, 2010). On the other hand mentoring is usedin the organization to provide two advantages i.e. career aspects under which career advancement is planned for the employees and psychosocial aspect under which sense of competency is enhanced. The organization hasthe belief that constructive criticism, continuous guidance and regular analysis done by mentors and coaches contribute majorly towards improving the performance ofworkforce. Also, the company gets benefited in the form of cost saving as experiences senior staff provides training to junior staff. Although, as per Bennett (2012), mentoring and coaching and similar informal learning programs helpemployees in knowing themselves as what is requiredto be done for increasing their competency and attaining set objectives, and what can be done for removing barriers in their path of success.
Ernst and Young have included informal learning in their overall learning strategies. Company allows its employees to select their own way to develop themselves as this is the only way to get best out of them (Eaton, 2011). This way company has informally included informal learning in its human resource development activities for making its employees a more valuable asset oftheorganization.
Conclusion
Ernst and Young is a leader in global consultancy providing best in class service to its clients. This is possible because of its human resource to whom company offers attractive HRD opportunitiesas well as effective learning programs for enhancing their skills to a new level.
References:
Ainsworth, Heather L. and Eaton, Sarah (2010). “Formal, Non-formal and Informal Learning in the Sciences”
Bennett, Elisabeth E. (2012, June). A Four-Part Model of Informal Learning: Extending Schugurensky’s Conceptual Model. In the proceedings of the Adult Education Research Conference. Saratoga Springs, NY: AERC.
Borghans, L., D. Fouarge, A. de Grip, and J. Van Thor.Werken en leren in Nederland.Maastricht University ROA-R-2014/3, 2014. Online at: http://roa.sbe.maastrichtuniversity.nl/roanew/wpcontent/uploads/2014/05/ROA_R_2014_3.pdf [assessed on 6April2018]
De Grip, A., and J. Sauermann (2012) “The effects of training on own and co-worker productivity: Evidence from a field experiment.” The Economic Journal 122:560 (2012): 376–399.
Eaton, Sarah (2011). “Family Literacy and the New Canadian: Formal, Non-Formal and Informal Learning: The Case of Literacy, Essential Skills and Language Learning in Canada”.
http://www.ey.com/
Park, Y., and R. L. Jacobs (2011). “The Influence of investment in workplace learning on learning outcomes and organizational performance.” Human Resource Development Quarterly 22:4 (2011): 437–458.
Rogoff, B; L. Alcala; A. Coppens; A. Lopez; O. Ruvalcaba; K. Silva (2012). “Pitching in and catching on: Learning through intent community participation”.
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