Best Practice And Best Fit Approach In HRM Management Essay

Best Practice And Best Fit Approach In HRM Management Essay 1. Introduction The discussion between promoters of best practice and best fit approaches has sparked widespread controversy in the human resource management (HRM) area. The topic has gained much scholarly attention because it not only addresses a theoretical controversy but also possesses a high degree of practical managerial significance. The essay has the aim to analyse best practice and best fit approaches in HRM of a multinational enterprise. The reader receives insight into Lincoln Electric’s organization through a case-study analysis of practical HR approaches serving as a basis for developing practical managerial implications in the last part of the paper. 2. Critical evaluation of â€Å"best practice† and â€Å"best fit† practices in HRM 2.1 Best practice approach The best practice approach claims that certain bundles of HR activities exist which universally support companies in reaching a competitive advantage regardless of the organizational setting o r industry (Redman and Wilkinson 2009). Best practice models imply a close connection between HR practices and organizational performance and are often associated with high commitment management (Paauwe & Boselie 2003). Empirical research in the best-practice field shows similar groups of HR polices which are especially suitable for maximizing performance irrespective of market and product strategies (Peffer 1998, Guest 2000). Best practice bundles of activities are characterized as mutually compatible HR activities which forge high levels of workforce competence, encourage motivation and introduce a workdesign boosting employee commitment (Maloney and Morris 2005). Based on concepts from expectancy theory (Vroom 1964, Lawler 1971) best practice HR will result in higher levels of quality, productivity and low rates of absenteeism and wastage (Guest 2000). The best practice approach suffers from a series of limitations. Firstly, when implementing best practice standards organizations run risk of introducing mutually prohibitive combinations like team working and compensation based on individual performance resulting in a deterioration of employee collaboration through overexaggerated competition (Delery 1998 in Redman and Wilkinson 2009). Secondly, high commitment management systems are generally a complex undertaking requiring large inputs of planning and top level management commitment. Thirdly, critics like Milkovich and Newman (2002) argue that best practice HR lacks direct linkages with organizational strategies and is minted by the belief that outstanding high performing human resources will influence strategy. By making HR policy precede corporate strategy an organization risks prescribing standardized sets of â€Å"one size fits all† best practice approaches which will not support the particular needs of employees and be detrimental to overall strategic objectives (Maloney and Morris 2005). Fourthly, discussions with regard to the appropriate cho ice of best practice measures resulting from an insufficient research methodology and theoretical definition exist (Marchington and Grugulis 2000 in Redman and Wilkinson 2009). 2.2 Best fit approach The best-fit model is considered as a variant from precedent models of Harvard, Michigan and York and is called â€Å"matching model† for HRM (Sparrow and Hiltrop 1994). It is based on developing HRM policies according to business strategy. Strategy involves planning future activities, performances objectives, and policies towards reaching the corporate aims. HRM strategy should be designed and applied to support the given corporate strategy (Lawler 1995). The â€Å"best-fit† approach questions the universality assumption of the best-practice perspective. It emphasizes contingency fit between HR activities and the organization’s stage of development, an organization’s internal structures and its external environment like clients, suppliers, competition and lab our markets (Redman and Wilkinson 2009). HR policy should be minted by the appropriate context of individual employees and therefore support the overall competitive strategy. Aligning HRM practices to strategies can enable companies to create potential competitive advantages (Schuler and Jackson 1987 in Redman and Wilkinson 2009).

MICROECONOMICS Essay Example | Topics and Well Written Essays - 1750 words

MICROECONOMICS - Essay Example It must be noted here that for the private firms, the altitude of the supply curve from the horizontal axis determines the minimum price (average) at which a specific quantity must be sold so that supplier would be able to cover the variable cost. He cannot afford to sell at any less value. It is vital to understand the meaning of demand and supply as it has been used in the micro economics models. It must be perceived as the flow of inventory, inwards for supply and outwards for demand. Demand and supply do not have a direct link between them but it is the market that decides their levels. Finding the equilibrium price A unique price exists in the market that would establish perfect equilibrium between demand and supply known as equilibrium price. This price is a great leveller for both buyers and suppliers and there is least scope for manipulation of prices driven by greed in a long run. In a perfect market, there is an equilibrium quantity that exists for the equilibrium price and either way shifts in the value of this equilibrium due to misallocation of resources (whether too few scarce resources are being used or too many scarce resources are being used) would result in dead- weight loss. ... It is more or less automatic. Trouble in the public sector This is in complete contrast to what happens in the public sector. When it comes to public services which are run by governments, there is hardly any interaction of demand and supply curve as there is absence of ‘feedback’ factor. So there is no automatic adjustment of the prices as government rely on taxes for covering the cost that is incurred in rendering these services and consumers hardly have any choice. This is why misallocation of resources is a commonplace under government led enterprises and it would be better if governments restrain themselves from getting engaged into non vital activities. Whenever government tries to control the price either by deciding the floor price or the upper cap, it runs the risk of misallocation of resources. It would result in ‘dead - weight losses and could get worse. Analysing the effects of minimum wage law indicates that it fails to achieve the objectives which it was originally devised for. It increases the supply of the unskilled labour in the market and at the same time decreasing their demand. It fails to serve the poor, worsens the problem of unemployment in the long run and increases the burden over the taxpayer in an unjustified manner. Even the ‘earned income tax credit’ program has the similar consequences though it is not as bad as minimum wage law. Under both the schemes, government seems to address the symptoms and not the root causes of the problem. It is relevant to suggest here that instead of attempting to control the prices directly, it would be much better to influence the market. Policies must be such that they help

Protection from Self Incrimination Essay Example | Topics and Well Written Essays - 500 words

Protection from Self Incrimination - Essay Example In this case, the defendant, Mr. Salinas was accused of having played a role in a murder that had taken place close to the position of his car. Upon questioning, the defendant answered all the questions, went further, and even submitted his gun to show that he was innocent. However, the defendant went mute when asked about some shell casing found at the scene of the crime. Moreover, the casings matched his shotgun. The defendant at that point completely ignored the questions and did not answer. Because of this attitude, the prosecutor went further and told the jury that the reason for Salinas’ silence was the fact that he felt guilty for the actions he had taken and that the silence was a sign of admission to having carried out the crime. The prosecutor had a strong case when he stated that the defendant was guilty not only because he did not comment on the questions posed to him regarding the casings but also because of the obvious fact that his gun was involved. The judge did not argue against the strong case brought by the prosecutor and this was mostly because the evidence for the case was present (Hightower). However, the judgment delayed due to the lack of motive for the action. However, upon reviewing the available information, the judge found the defendant guilty and sentenced him to 22 years in prison. Upon critical review of the case and the evidence provided, I would have offered a ruling similar to that made by the judge, in this case. The reason for the judgment is the fact that the defendant went mute and did not communicate anything regarding the questions asked. The constitution states that upon an individual pleading the Fifth Amendment they ought to receive fair treatment until substantial proof is presented (Choo 89). However, this was not the case in this particular case. Rather than pleading this right, the individual went silent and did not answer anything. This was a sign of great