留学生essay代写-HRM Report

1.0 Introduction

In recent years, Resource-based view has become the mainstream paradigm to explain the competitive advantage of organizations. Penrose (1959) believes that in order to obtain profits, enterprises should not only have superior resources, but also make full use of these resources. Wernerfelt (1984) put forward the resource-based view on the basis of Penrose's point of view, believing that resources and products are like the positive and negative sides of a copper plate, the completion of most products must rely on the input of resources and services, and most resources are also used in products. In other words, the main task of the company is to create and grasp the advantage situation of resources, so that the status of resources in this situation cannot be obtained directly or indirectly by other enterprises. Bowen (2014) argues that firms cannot be observed only by their product market activities, because firms are formed by complex, intangible and dynamic combinations of resources. These resources refer to the related resource elements owned or controlled by the organization, and are divided into resources and capabilities.

 

Barbey (1991) divides enterprise resources into three categories. The first is physical resources, such as plant, equipment, technology, geographical location and so on. The second is human resources, which refers to the experience, judgment and wisdom of employees. Third, organizational capital resources, such as organizational structure, planning, control and coordination systems, and informal relationships within groups or with other enterprises. More importantly, the competitive advantage of enterprises mainly comes from the possession of resources with value, scarcity, inimitability and irreplaceability. Rowland (1983) thinks that human resource has become the important source of enterprise's competitive advantage, if it has four characteristics. Firstly, in the value labor market, the skill type and level of individuals are heterogeneous, and the enterprises with higher quality human resources are more likely to obtain excellent performance, so human resources can create value for enterprises. The second is scarcity. The skill level required for a job is normally distributed among the working population. Therefore, high-quality human resources are relatively scarce. The third is irreplaceable, not everyone has the same ability to adapt to the environment and technology, and not everyone in the same management system can create the same value, so human resources can not be replaced. Finally, it is inimitable. Inimitability can be illustrated in three ways. (1) The enterprise culture and norms developed by the unique history of the enterprise make the work of the personnel and the goal of the organization coordinated, and this unique enterprise culture cannot be imitated by competitors. (2) Team work needs to use different resources and can produce synergistic effects, which makes the causal relationship between input and output ambiguous, so competitors cannot imitate. On the other hand, the interaction mechanism between human resource management measures is a non-linear relationship, which is difficult to understand, so it is not easy to be imitated by competitors. Even if a competitor employs a few top managers, it is difficult to imitate valuable human resource management practices, because the organizational capabilities formed by human resource management embedded in the organization are not fully understood by a few top managers. (3)The complex relationship formed by the interaction between individuals, groups or organizations in the organization has value only under the specific organizational context, so this complex social relationship is not easy to be imitated by competitors.

 

Devanna (1981) proposed strategic human resource management. Strategic human resources management includes making people management function the most important organizational development tool and considering all human resources issues in an integrated way under the strategic framework of enterprises. He believes that if enterprises want to adopt strategic human resources management methods, they must abandon the way of thinking and conventions of personnel management and pay more attention to strategic issues rather than operational issues. Strategic human resources management can be achieved by, for example, achieving effective management of staffing, retention and mobility, selecting staff that are appropriate to the organizational strategy and culture, encouraging changes by investing in human capital with high return potential, deploying employees cost-effectively, and integrating human resource programs and policies derived from corporate strategy to create an agile, more dynamic organization that is more responsive to customer needs, critical and emerging markets, and quality. Thus, there are three key outcomes of strategic HR: increased productivity, increased customer and employee satisfaction, and increased shareholder value.

 

2.0 Literature Review

Leif (1997) believes that the acquisition of manpower is not costless, it needs to consume scarce resources, and that is, it must consume capital investment. Manpower, including the formation of human knowledge and human skills, is the result of investment. Not all human resources are the most important resources, only through a certain way of investment to master the knowledge and skills of human resources are the most important resource in all production. Therefore, human knowledge and skills are also a form of capital, which is called human capital. He believes that human capital has four characteristics. First, specificity, people are the carrier of human capital. Whether through personal investment or through the investment of other subjects, human capital can only exist in the owner of human capital, other subjects cannot directly occupy or dominate. Second, initiative. Man is the only active factor in the production process. The use of human capital after being employed must depend on the efforts of its owners. The initiative of human capital makes it necessary to encourage and restrain the owners of human capital. Third, non-mortgagability. The unity of the owner of human capital and the capital it owns makes it non-collateral, which limits the ability of human resources to bear risks. Fourth, value-added. After the use and practice of human capital, the value of human capital will not decrease, but may increase because of the continuous enrichment of experience, the continuous accumulation of information and the overall improvement of comprehensive qualities such as ability and wisdom.

2.1 Executive pay and pay equality

Minow (2001) puts forward the view of the separation of corporate ownership and control, which mainly studies two types of principal-agent relationship. One is the principal-agent relationship in which the owners or shareholders of the company employ the general manager or senior management as agents to run the enterprise through the board of directors. Second, the company's senior management authorized and entrusted to the middle management to operate subsidiaries and enjoy a certain degree of autonomy in the company's sub-sector principal-agent relationship. The reason for agency costs is that the manager is not the full owner of the business. When the manager is only partially in possession of the enterprise, he may bear all the costs and only a small part of the profits when he does his best work. When the manager consumes the extra benefits, he may get all the benefits but only bear a small part of the costs. As a result, some managers are not motivated to work, but are keen to pursue extra consumption. Therefore, the value of the enterprise is less than the value when he is the full owner, and the difference between the two is called agency cost. Generally speaking, this kind of agency cost has three forms: supervision cost, compliance cost and residual loss. Executives are a special kind of human capital. Although they are not the owners of the material capital of enterprises, their excellent management quality and ability are indispensable capital for the survival and development of modern enterprises. The scarcity of human capital of top managers in enterprises lies in its long generation cycle and high training cost.

 

Jensen (1983) proposes that corporate governance research should solve the relationship between principals and agents, and the core issue is how to reduce agency costs. Based on the principal-agent theory, in order to reduce the agency cost, the principal must give the agent appropriate incentives to reduce the divergence of interests between them, which is mainly through the remuneration contract recognized by the principal and agent, clear the rights and responsibilities of both sides, to promote the agent in the pursuit of their own utility maximization at the same time, to maximize the promotion of the interests of the principal.He believes that according to the principal-agent theory, economists start from coordinating the interests between principals and agents, and propose that in order to control CEO's performance, designing an incentive contract linking organizational performance with CEO's remuneration may be the most important way. In order to reduce the cost of enterprise personnel, experts in this field have constructed many incentive mechanisms. These mechanisms are: the residual control to managers; Optimize the salary composition of executives and form the optimal combination among wages, funds, stocks and so on; The board of directors elected by the shareholders, as a legal person of the enterprise, has the decision-making power of appointing the top managers and deciding investment, and supervises the managers of the enterprise; Strengthen the competition of the manager market, calculate the future human capital value of the manager according to his past performance by the market, form the market pressure, etc.

 

Adams (1963) based on the perspective of social exchange theory, that people will calculate their own harvest and input ratio, and will compare with the harvest and input ratio of the reference object, from the results of the comparison to judge whether the distribution is fair. Adams further proposes that when people feel unfair, they will take various actions to change the unfair state, such as reducing their own input, reducing the harvest of the reference object, changing the reference object and so on, in order to rebalance the comparison results. Based on the theory of organizational justice, Leventhal (1980) put forward six standards of procedural justice: consistency rule (the distribution procedure should be consistent across objects and time), avoiding prejudice rule (there should be no self-interest and prejudice in the distribution process), accuracy rule (The allocation process and final allocation results should be based on accurate information), Correctable criteria (if errors occur, they can be corrected)，Representative criteria (the allocation procedure can reflect and take into account the interests of all relevant personnel in a balanced manner), ethical criteria (the allocation procedure should not violate the universally agreed ethical criteria).He believes that among the six factors, measures with practical incentives can better show procedural fairness, such as the fair ratio of wages to labor.

 

2.2 Job competencies

The Role behavior theory mainly thinks that the behavior performance of the staff is the tie of the strategy and enterprise performance, the main task of human resource management is to guide and control the attitude and behavior of the staff, different enterprise management strategies will make the attitude and behavior of the staff different, therefore, in the strategic human resource management system, If the attitude and behavior of employees required by each strategy are different, then the human resources affairs of the enterprise will also change. Katz (1978) thought that role refer to that composite body of the interdependent things of the organizational system, this kind of role mainly include individual role, multiple role, the arranger of multiple roles and the evaluator of multiple roles, at the same time they further define the concept of role behavior as: A repetitive behavior that is present in an individual and that is closely related and predictable to the repetitive behavior of other individuals in an organization. He also proposes that the most important role of employees in the enterprise is the role of personal behavior to promote the development of the company. To some extent, job competition has become another very effective employee behavior incentive mechanism besides performance incentive. The benefits of competition for jobs can be seen in two ways. Firstly, job competition simplifies the composition of human resources and provides enterprises with more high-quality human resources. Secondly, job competition makes employees have a sense of crisis, so they begin to think about whether their personal goals are consistent with the company's goals, and whether their personal behavior can bring greater benefits. Employees in the competition will enhance the efficiency of personal behavior so as to promote the development of enterprises.

 

 

2.3 Performance management process

Performance studied in this essay can be mainly divided into two types, enterprise performance and employee performance. Enterprise Performance mainly refers to the efficiency of members in an enterprise to complete the tasks assigned by the enterprise, which is a comprehensive enterprise employee performance results. Enterprise performance is the result of many factors, such as the stock of human capital in the organization, the level of science and technology, system arrangement, marketing integration, resource management and market environment in a certain period. In 1997, Compell mainly used 30 measurement standards to reveal the various characteristics of enterprise performance, which can be summarized into five aspects: First, productivity. It can be obtained through the means of production. Second, overall performance. It is decided by employees and managers. Third, employee satisfaction. Fourth, profit and return on investment. Fifth, employee turnover rate. He also proposes that employee performance is closely related to enterprise performance. From the perspective of enterprises, the real goal of measuring employee value and contribution is to hope that employees can create or create more value for the enterprise in the future. If the measurement of employee value deviates from the size of enterprise value, then evaluating employee value is meaningless for the social organ of enterprise. Therefore, the index to measure the value of employees must be derived from the enterprise goals. At the same time, it organically unifies the enterprise goal and the individual work goal of employees, so as to motivate employees to make greater contributions. Therefore, the creation and implementation of policy planning performance appraisal framework is a must for enterprise. 

 

The performance appraisal framework is divided into organizational appraisal and individual appraisal. The assessment at the organizational level mainly includes the assessment at the company level and the assessment at the department level. The assessment content at the company level includes key performance indicators and key tasks, and the assessment content at the department level not only includes key performance indicators and key tasks, but also introduces department satisfaction. The individual assessment includes three categories: the post of company senior manager, the post of department head and the post of employee, and different assessment methods are set for these three different posts respectively: the assessment results of senior manager are linked with the operating performance of the company and the results of the department in charge; The assessment results of department heads are not only related to department performance, but also closely related to the ability and attitude of the heads themselves; The appraisal contents of employees include key performance indicators, key tasks and abilities and attitudes.

 

3.0 Findings

For an enterprise with a certain scale, it is very important to have core competitiveness. Core competitiveness includes not only the technical level of product manufacturing, but also the level of personnel management. Employees are always one of the important factors for the steady development of enterprises, so how to coordinate the fairness between employees who play different roles is a problem that enterprises should think about. Performance appraisal is an important part of performance management. Whether the results of performance appraisal are fair or not directly affect the working status of employees, and then affect the efficiency of the entire organization. Therefore, the fairness of performance appraisal plays a key role in improving the enthusiasm of employees and the effectiveness of the whole organization. In order to ensure the quality of human resources, job competition has been introduced into human resource management. In order to achieve relative fairness, performance appraisal has been introduced into the management mechanism. They seem to be quite different mechanisms, but they have a common purpose to promote the development of enterprises. Job competition promotes the change of the role of employees, and performance appraisal also promotes the change of the role of employees. Both have a common goal, that is, to achieve fairness.

 

4.0 Recommendations

The fairness of performance appraisal includes two dimensions, one is the internal fairness of performance appraisal, and the other is the external fairness. Internal fairness is the fairness within the organization, which involves the design of assessment indicators, the choice of assessment methods, timely communication and training, and the establishment of assessment and supervision mechanism. External fairness and market fairness, that is, the external market's recognition of the results of the assessment. To ensure the fairness of performance appraisal is to ensure the internal fairness and external fairness of performance appraisal respectively.

Firstly, in the design of assessment indicators, there are three principles. The first is strategic relevance, the overall strategic objectives and business priorities of the enterprise need to be subdivided into specific tasks at all levels of staff. Therefore, the assessment indicators designed should help guide and motivate employees to complete the tasks transmitted and subdivided by the overall strategic objectives of the enterprise. The second is high efficiency, the design of assessment indicators should be able to comprehensively and objectively reflect work performance, avoid missing key indicators with low returns and incorporating uncontrollable external factors.

 

Secondly, In order to achieve a certain degree of fairness, the performance appraisal of executives and employees should not be too different. The design of job competition mechanism and the design of performance appraisal mechanism should be interrelated. The establishment of job competition mechanism provides a promotion mechanism for the change of employees' roles in the enterprise. The design of performance appraisal mechanism broadens the scope of competition among employees horizontally, and promotes employees to improve their personal abilities in order to get more reports. Job Competition Mechanism and performance appraisal mechanism, from the vertical and horizontal dimensions, encourage employees to change personal behavior, which will promote the development of enterprises. Therefore, when designing these two mechanisms, enterprises should design the human resource management mechanism with linkage effect from the perspective of the enterprise's macro development strategic objectives to promote the overall development of the enterprise.

 

 

5.0 References

Bowen, David E, & Ostroff, Cheri. (2004). Understanding HRM-Firm Performance Linkages: The Role of the "Strength" of the HRM System. The Academy of Management Review, 29(2), 203-221. 

 

Gilmore, P., & Nova Southeastern University. (2001). Managerial accountants, the equity theory, job satisfaction, and intent to leave.

 

Katz, S. (1978). Mysticism and philosophical analysis. New York: Oxford University Press.

 

Kor, Yasemin Y, & Mahoney, Joseph T. (2004). Edith Penrose's (1959) Contributions to the Resource-based View of Strategic Management. Journal of Management Studies, 41(1), 183-191.

 

Monks, R., & Minow, N. (2001). Corporate governance (2nd ed.). Malden, Mass.: Blackwell.

 

Rowland, Ferris, Rowland, Kendrith Martin, & Ferris, Gerald R. (1983). Research in Personnel and Human Resources Management.

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