HR7003 Managing Human and Financial Resources Assignment Sample

Executive Summary

Human resource and financial resources are major aspects of the organisation that are taken into consideration for meeting its goals. The HR manager has an effective role in the system for sustaining into the market with the management of its employees. The growth of the company is meant to be managed with the efforts made by the HR manager with the allocation of money to the right aspects. Different issues are faced by HRM with the management of human resources due to difference in opinions and values. It is necessary to have the right practices for improvement in the process of HRM so that it could meet the desired objectives.

Introduction

The study will focus on different types of HRM issues that have been faced by the organisation and affect the services delivered by the customers. The issues that have affected the organisation named Findian textiles will be presented in the study. It will also give consideration over the impact which has taken into account for making the best to be carried in the organisation. The issues have made the companies grow at a large level while dealing with such issues with the development of the right strategies in it. It will also provide an implementation plan with the right strategies with their responsibilities will also be demonstrated in the study. Lastly, the risk register will also be carried in the study for managing the issues while dealing with them effectively.

Outline of the primary HRM issues in Findian Textiles

Warehousing issues– Lack of conurbation of employees in the Findian textiles and resistance of employees for the use of Robots leads to issues carried with warehousing. It has made an increase in the price of products with its competitors. Thus, it is required to have the right stability in prices so that it could meet the requirements of the organisation. The issues have made the organisation to have zero-hour contracts so that it ensures that employees need to work more efficiently with the reduction in the cost (Ringle et al., 2020). The changes carried in the organisation has impacted the organisation and employees working in it. The issues that have been faced by employees are the situations that have been driven by poor management skills, people with disabilities and caring responsibilities. It has led to ineffective approximate of the organisation with the values of the company with the least financial and competitive values.

Logistics Issues– Health and safety issue have been a problematic situation for the organisation that has made them suffer from the problem of the ineffective process of health. These issues are required to be managed with effective leadership. Poor retention of employees takes place with rising internal conflicts of the company that leads to concerning areas of health and safety. A number of employees have been injured and affected by the faulty electrical cable. Poor management of the organisation with the enhancement in the supply of raw material affect the logistics of the company while dealing with the requirements of the company. It affected the processing of the company for cracking deal with the customers and having the management of the employees in the organisation (Aust et al., 2020). Health and safety are the major aspects that are required to be considered and negligence over the fact has affected the organisation with the development and delivery of the right services to the customers.

Proposal to improve the delivery of HR Processes at Findian Textiles

Offer the vision and set clear targets

On the off chance that one understands what they are making progress toward, he/she can engage and rouse the group. Ensure the labourers know the vision and the general objectives for the organization. This elevates everybody cooperating to deliver huge advantages (Pardoe et al., 2018). The arrangement between groups expands proficiency and permits labourers to get esteemed and energized.

Speak with group

Some portion of the goal is to speak with the group effectively. Correspondence is two way, and one can guarantee the correspondence between one and the group is reliably streaming. One should stay up with the latest on the main thing, yet additionally tune in to their contemplations, viewpoints and ideas. What’s more, in the outcome, it would goodly affect the business in the event that one tackle difficulties with a certain goal in mind.

Encourage collaboration

The best kind of organizations is the place where everyone solidly cooperates. Empowering and cultivating collaboration builds productivity, leaving labourers less disengaged and making them more committed (Lopez-Cabrales and Valle-Cabrera, 2020). This should be possible intermittently by the group holding exercises and opportunities to associate and meet the partners.

A protected climate for work environments

The climate significantly affects achievement, commitment and advancement. The excitement and devotion of good and fulfilled specialists are more noteworthy. Establishes a climate where the labourers can make the most of their time and work with fun (Transilvanus et al., 2019). Advance better perspectives, regardless of whether it be by games or group wellness exercises, by giving quality food varieties and admittance to work out.

Give the group positive criticism and prize

The strength of useful applause is regularly belittled, however recognizing and praising execution urges colleagues to add to the organization’s targets. At the point when laborer’s produce results, put forth additional attempt or accomplish amazing work, ensure one is recognized and critical. Award the group for the difficult work, be it money related prizes, blessings, advantages or greater adaptability and freedom.

Implementation plan including outline costings and responsibilities

HR manager– The HR manager makes his effective contribution to the management of work while dealing with relevant facts. It is required for an HR manager to adopt responsibilities for hiring required staff in the organisation so that it could meet with expectations of the company. He makes his efforts for making the staff members to be provided with safety and security while fulfilling their major responsibilities.

Financial manager– Financial manager makes his efforts for managing and allocating the financial resources to the respective areas so that it could help in dealing with financial expectations (Taamneh et al., 2018). It is important to have effective and right execution of the financial services in the organisation so that it could manage the changes and lead in the right direction.

Administration Manager– The administration manager is a role player in the organisation who tackles different situation in the organisation with the development of the right strategies in it. It is important to have the right administration with the management of situations while controlling the issues related to the health of the employees in it.

Warehouse Manager– The warehouse manager leads to having effective contribution with the management of stock so that it could be provided to the people (Veth et al., 2019). Different aspects are required to be considered with effective management of skills and creation of right responsibilities in it.

Risk register to identify the main risks that your proposals carry

Various dangers can have occurred with the execution of the task for instance disavowal of representatives chipping away at the project, dynamic changes, deficient assets, natural changes, a prerequisite of capital and so on. These dangers are overseen in the association with the executives and selection of danger the board plan. The plans include identification of risks, assessment of the risks, analysing the risks, tolerating the risks and mitigating the risks with proper solution (Diaz-Fernandez et al., 2017). Different types of risks are carried in the organisation that affected its management and employees working in it. Major risks that affect the company and its services are warehousing, logistic issues, communication issues, management issues and administration issues.

*Warehousing issues*
*Logistics issues*
*Communication issues*
*Management issues*
*Administration issues*

Conclusion

From the above analysis, it has been evaluated that different issues take place in the organisation which are required to be managed with the adoption of the right strategies and practices in it. The study has also presented different issues that have been faced by Findian textiles with its HR management resources and financial resources. Different risks that have been faced by an organisation with the management of resources have been carried in the study with the strategies for solving the same. Risk register has also been considered in the study for identifying the impact with the development of the right strategies in it.

References

Aust, I., Matthews, B. and Muller-Camen, M., 2020. Common Good HRM: A paradigm shift in Sustainable HRM?. Human Resource Management Review, 30(3), p.100705.
Diaz-Fernandez, M., Bornay-Barrachina, M. and Lopez-Cabrales, A., 2017. HRM practices and innovation performance: a panel-data approach. International Journal of Manpower.
Lopez-Cabrales, A. and Valle-Cabrera, R., 2020. Sustainable HRM strategies and employment relationships as drivers of the triple bottom line. Human resource management review, 30(3), p.100689.
Ringle, C.M., Sarstedt, M., Mitchell, R. and Gudergan, S.P., 2020. Partial least squares structural equation modeling in HRM research. The International Journal of Human Resource Management, 31(12), pp.1617-1643.
Taamneh, A., Alsaad, A.K. and Elrehail, H., 2018. HRM practices and the multifaceted nature of organization performance. EuroMed Journal of Business.
Veth, K.N., Korzilius, H.P., Van der Heijden, B.I., Emans, B.J. and De Lange, A.H., 2019. Which HRM practices enhance employee outcomes at work across the life-span?. The international journal of human resource management, 30(19), pp.2777-2808.