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Human resource management
Human resources management is the act of implementing policies, practices, and systems that influence employees’ behavior, attitudes and performance. The contributions of HRM help the organization reach its goals, Manage talent for short and long term, Aligning human resource to the goals and strategies of the organization, Facilitating change to keep pace with the changing environment, Employing the skills and abilities of the workforce efficiently, To make people strengths productive, benefit stakeholders, Providing the organization with well-trained and well-motivated employees (Coulter, 2002). The purpose of this paper is to draw out some of contributions, practices and functions of HRM using Capco company case study.
Structure suitable for Capco
The organizational structure is the system of task reporting and authority relationships within which the organization does its work. The organizational structure refers to the tasks and responsibilities of each employee, discretion and authority, specialization, hierarchies of authority, spans of control, formal reporting systems monitoring and control systems, performance appraisal and reward systems. The purpose of the organizational structure is to establish the formal alignment, arrangement, and hierarchy of jobs within an organization. It establishes the positions and responsibilities of the employees in the organization (Hassan, 2005).
For Capco suitable structure to implement is tall structure also known as narrow span of control. The span of control refers to the number of people reporting directly to a given manager. In this structure, the manager may have a few people to put plans into action. The manager may also cut out the subordinates and deal directly with people not immediately subordinate to them but lower down the chain in order to get the things done faster. Unlike flat structure, continuous contact between the manager and each subordinate is not possible. The subordinates will have occasional contact with their boss. A subordinate will have to wait to get the manager’s attention. This may delay decisions and result in rushed judgments when attention is gained (Hassan, 2005).
Capco management style
There are many different styles of management and arguments for each. Democratic Management is the most accepted side of management but with any type of management style, you experience different reactions from employees and there are ups and downs to each kind (Reddin, 1992). As evident from the case study, we can conclude that Capco are using democratic management style. Democratic management style is a style proven to give proven results. You can typically expect a positive outcome when you engage issues as a team. Democrats appreciate the opinion of others and by basing solutions with a collective understanding you promote an open and honest work environment. Democratic management is also a great method to use when working as part of a team (Reddin, 1992). Teams managed with this style are typically strong and supportive of each other’s opinions because everyone’s opinion is taken into account just like Capco. Therefore we can conclude that Capco are excising democratic management style since Capco encourages employees at all levels of the company to share their ideas and contribute to finding innovative solutions to complex and challenging client problems.
Factors influencing employee motivation (Span of control and Hierarchy)
A tall hierarchy consists of several levels of management with a varying number of subordinates (Tripathi & Reddy, 2008). This is evident in many criminal justice organizations as well as military agencies. On the other hand a flat hierarchy generally has a wide span of control and comprised very few supervisors. Each design has its strengths as well as its weakness.
A tall hierarchy is beneficial due to the fact that there is sufficient supervision and access to said supervisors is readily available. Since this model has a low span of control, supervisors manage fewer subordinates, reducing the need for these subordinates to compete for the attention the supervisor (Tripathi & Reddy, 2008). Due to the increased interaction between a subordinate and his direct supervisor, communications have a less complicated flow and participation is more evident hence increasing employee’s motivation.
On the other hand a tall hierarchy can be stifling to an employee. This form of micro managerial hierarchy limits the creativity and individuality that an employee can exhibit and therefore decreasing employees motivation. In contrast a flat hierarchy dictates that management must supervisor numerous employees, providing a wide span of control. This format allows for more discretion among officers (Morden, 2004). The supervisors are not readily available, which present subordinates with the need to develop their decision making skills, allowing them to grow more as leaders. While this form of hierarchy has many advantages such as building the confidence of the employees, the weaknesses are very apparent. With supervision not ever-present, interactions between supervisors and subordinates are limited. Therefore, if an employee acts inappropriately and supervision is limited, the hope to correct these actions before they happen is restricted (Morden, 2004).
Performance Management and Reward Management
Performance Management “provides a means of combining business strategy and technological structure to direct the entire organization towards accomplishing common organizational objectives” (Koontz & O’Donnell, 2002). Capco Performance Management has allowed it attain and maintain the strategic alignment of its organization. PM is “a series of business processes and applications designed to optimize both the development and the execution of business strategy (Koontz & O’Donnell, 2002).
Total rewards management as we know it “encompasses not only compensation and benefits but also personal and professional growth opportunities and a motivating work environment” (Newman, 2006). Capco historically reports year-after-year revenue and net income growth. The total rewards management system is world renowned and the successful implementation of it is reflected in Capco’s financial reports and consistent awards and recognition. It is almost as if Capco’s total reward program is built into the company’s culture. The financial industry demands constant innovation and Capco has been nothing short of relentless in its efforts to develop and acquire new services and products in order to stay ahead of competitors. Also, in order to face international rivals head on, Capco operates in more than 20 countries. Year after year Capco is featured in magazines and journals worldwide as the winner of many competitions (Newman, 2006).
Conclusion and Recommendations
Capco is a global business and technology consultancy dedicated solely to the financial services industry. Capco is a company who deliver innovative solutions in banking, capital markets, wealth and investment management and finance. Capco has lived by the core value since beginning operations in 1998. They provide their clients the best possible solution to an ever changing financial market. Capco should continue to explore ways to reduce operating cost, increase profitability, and enhance change and competition.
Kinicki, A., & Williams, B. K. (2008). Management: A practical introduction. New York: McGraw-Hill/Irwin.
Hassan, S. F. (2005). Organisation structure: A study of how the organisation structure of engineering consultants responds to change?
Reddin, W. J. (1992). How to make your management style more effective. Kuala Lumpur, Malaysia: Institut Pengurusan Malaysia.
Coulter, M. K. (2002). Strategic management in action. Upper Saddle River, NJ: Prentice Hall.
Morden, T. (2004). Principles of management. Aldershot, Hants, England: Ashgate.
Tripathi, P. C., & Reddy, P. N. (2008). Principles of management. New Delhi: Tata McGraw-Hill Pub.
Koontz, H., & O’Donnell, C. (2002). Principles of management: An analysis of managerial functions. New York: McGraw-Hill.
Newman, N. (2006). Vault guide to the top 50 management and strategy consulting firms. New York, NY: Vault.
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