The business will specialize in the importation and distribution of NFL products in Thailand, and it will utilize a combination of online and physical stores to distribute its products to various customers spread across Thailand. A unique, cutting-edge social media marketing tool will be employed to attract sports enthusiasts, sports institutions, and customers who engage in sports activities for leisure. Unlike the existing products in the market, the imported NFL products will be not only cheap but also of innovative designs which make it the best quality brand in the market. NFL products are manufactured for performance, and the targeted customers are in need of them because the only available substitutes cannot fulfill their needs.
Human Resources Plan
Attracting, Motivating, and Retaining Employees
Human resources function is critical to the business. As a result, the company will emphasize best practices in the way it deals with employees. This includes attracting the best talent, motivating them to perform to their best, and retaining in the in the company for a longer time. Evidence has shown that attracting, motivating, and retaining of skilled employees for high organizational performance requires organizations to adopt certain reward schemes. There has been much debate as to whether reward schemes should be tailored to suit individuals or offer a one-size-fits-all scheme. Studies conducted by Snelgar, Renard, and Venter (2013) suggest that base pay is the most preferred reward scheme by the employees. Further, they found out that the most effective strategy for attracting and retaining talent was an industry-competitive base pay. Their findings are consistent with the results of investigations carried out by Osibanjo, Adeniji, Falola, and Heirsmac (2014) who found out that there is a strong correlation ship between compensation schemes and employee retention and performance.
When the compensation package is high, it attracts talent to the organization. Further, competitive compensation package improves employee performance and retention. But poor compensation packages are not only like to decrease employee performance but also high rates of employee turnover. However investigations carried out by Terera and Ngirande (2014) revealed that although certain reward schemes can be used effectively to retain employees, they do not necessarily result in job satisfaction. Although previous studies emphasized the importance of compensation for attraction, motivation, and retention of employees, recent studies suggest pay plays a very small role in motivation and retention of employees (Nienaber, Bussin and Henn, 2013). According to Nienaber, Bussin, and Henn (2013), line managers plays a greater role than pay. They recommend that organizations aim to increase their performance significantly should structure their employee rewards in a manner consistent with employees preferences. These views are consistent with those of Stahl et al. (2012) who pointed out that financial incentives are not the only means of attracting, motivating, and retaining talent. According to them, monetary rewards hardly compensate for things like long-term career planning, exciting job, appealing culture, attention from senior managers, career growth advancement, freedom and autonomy, inspiring mission, a great boss/mentor, exciting challenges, and flexibility. These aspects will form a basis for companys human resource rewards policy. The company will not only consider extrinsic factors, but it will also consider extrinsic factors. The company will consider setting a base pay which is competitive in the industry. Surveys will regularly be conducted to not only determine the rewards systems that make employees to stay but also to understand reward systems which lead to employee satisfaction. More emphasis will be placed on rewards schemes which reflect the wishes of the employees.
Training and Development of Employees
One of the major objectives of the company is to be competitive, to report high profits and to remain on the market for long. All these goals will rest on the people. In order to operate sustainably, the company will have to record consistently high performance in the long term. Organizational performance is a reflection of the employee performance. Studies conducted by Habib, Zahra and Mushtaq (2015) and also by Imran and Taveer (2015) affirmed previous studies that training and development has a great impact on employee performance. Every employees effort will count towards the overall organizational performance. Poor employee performance will lead to higher organizational performance. Saeed and Shabir (2013) also found out that lack of training and development programs is one of the reasons why employees decide to leave their employer. Besides attracting, motivating, and retaining talent for performance, the company will explore other opportunities to improve performance. Stahl et al. (2012) contend that one of the most common aspect found in every excellent company is the commitment to leadership development. They observed that the most excellent companies have established state-of-the-art learning campuses or training facilities and utilize the best leadership development technologies and tools. Further, excellent companies invest a lot of financial resources to train their employees for improved organizational performance. Stahl et al. findings will form the basis for policy guiding on training and development. For example, leadership in the company will be made an integral part of the culture, and the program will involve senior level managers. The company will also pursue a policy of promote-from-within. It will consider internal candidates for higher level positions. This will help in binding the employees to the organization. However, to avoid inward-thinking by this policy, the company will outsource recruitment of 25-35% of the middle-level managers from outside to help reenergize the organization. Further, managers at all levels will be included in major decision-making processes regarding employee recruitment and also given the responsibility to develop employees skills and knowledge. Job rotations across business units or functions will be used as one of the methods of training and development of talent.
Stakeholder management involves a number of things including quality, business strategic management, values, and ethics (2012). There is a need to develop a good working relationship between the business and its stakeholders including the company employees, government authorities, the owners, the community, suppliers, and business partners. Thiel, Bagdasarov, Johnson, and Mumford (2012) argued that leaders in organizations often encounter environmental challenges and pressures that expose them to risks. Following this, they suggested that leaders ought to be conversant with ethical decision-making processes since they can help them make decisions involving complexities and ethical dilemma also promote an ethical culture in the organization. Crossan, Mazutis, and Seijts (2013) pointed out that one of the most effective ways to handle issues of ethics is to integrate character strengths, virtues, and values in the ethical decision-making process. Ethics will be held in high regards in the organization. As such, all decision-making processes in the organization will be consistent with ethical business practices. The companys operations shall comply with general ethical business practice. Further, it will also operate with ethical values consistent with those that will be drafted for the company which also applies to all employees.
Issues of Diversity
Although it is small in size, it is expected that the company will attract a wide pool of talent from diverse cultural, religious, and racial backgrounds. It is, therefore, important to put in place measures that will help in the management of diversity. Minority opportunity-based diversity and equity management and also manager accountability in diversity and equity management have a positive relationship with racial diversity in managerial ranks and that studies show that these relationships are quite stronger in smaller companies than smaller companies (Richard, Roh, and Pieper, 2013). The company will develop a culture of respect for diversity. It will prepare a guideline which will help in fostering a culture of diversity in the workplace.
Evaluating Employee Performance
Evidence suggest that employee evaluation has an impact on employee performance (Mir and Ahmed, 2014). Although it might be easy to tell whether the company is performing well or poorly, it might be hard to tell each employees performance if there is no yardstick to measure and evaluate performance. With evaluation, management can identify poor performing and high performing employees and thus help in making decisions regarding training and development programs, reward schemes, and punishments. The company will choose employee appraisal methods which include either 360 3valuation, graphic scale, checklists, or critical incident.
There are many issues surrounding employee management. Employees might be needed for a number of reasons. This includes the need to recruit to fill the vacancies by those who left, retired, died, developed chronic sickness, resigned, fired, or the company expanded and needed more employees. Whatever the circumstance is creating a need to recruit senior employees, there is a need to conduct a succession plan so that the company will not be gotten unprepared if any of the listed scenarios happen. Studies show that companies without succession planning face a lot of challenge including the potential to lose knowledge base, skills, and good performance when talented workers leave. It has also been found that the problem is compounded by the lack of standardization in succession planning as well as the absence of favorable succession planning in some organizations (Durst et al., 2015). In order to avoid the pitfalls of sudden loss of an employee through any of the causes, the company will come up with a comprehensive succession plan to ensure that exit of an employee or a number of employees would cause minimum impact on the companys operation and performance.
Safety and Non-Discriminatory Working Environment
Safety is paramount to the workers. A conducive working environment will be created for employees. This includes using buildings certified as safe to use for business purposes. Employees will be trained on matters of health and safety in the workplace. Where necessary, employees will be given personal protective equipment. The workplace environment will be maintained to the standards required for safe working environments established by the local authorities. The work environment will not be discriminatory in that special features will need to be added to the building so that even those people living with a disability can access the building without difficulty. Furthermore, the company will put in a place a policy to guide complying with issues of equal opportunity employment, workplace harassment, and people with disability, disciplinary procedures, and diversity.
The organization will be as shown in Fig.1 and will be composed of the CEO at the highest level. Below the CEO are a Finance manager, marketing manager, and human resources manager. Under the finance manager are two assistant accountants. The marketing manager will be assisted by 120 sales and distribution staff while HR manager will be assisted by one assistant human resources officer.
If you are the original author of this essay and no longer wish to have it published on the SuperbGrade website, please click below to request its removal:
- The Security Risk Assessment Metodology in UN Agencies
- Lean Thinking Strategies
- Research: Benefits and Demerits of a Family Business
- Analysis of Wells Fargo& Co and Bank of Africa
- Project-Based Organizational Structure and Communication System
- Supply Chain Integration in Amazon
- How to be a Perfect Agent of Farmer Insurance?