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Research in HRM

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Expert: Leo Lingham - 7/3/2009
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All Answers Answers by Expert: Prof R S S Mani Brian Phillips Shannon Reising Leo Lingham Patricia A Bell Umesh Chaudhary Raghav Jim Dromsky Shirley McAllister, CPP, PHR Pankaj Bhargava Ask Experts Volunteer

Leo Lingham
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human resource management, human resource planning, strategic planning in resource, management development, training, business coaching, management training, coaching, counseling, recruitment, selection, performance management.

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18 years of managerial working exercise which covers business planning , strategic planning, marketing, sales management, management service, organization development PLUS 24 years of management consulting which includes business planning, corporate planning, strategic planning, business development, product management, human resource management/ development,training, business coaching, etc Organizations Principal---BESTBUSICON Pty Ltd Education/Credentials MASTERS IN SCIENCE MASTERS IN BUSINESS ADMINSTRATION

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Question I am a student of PHD, and i want to work on some area related to Human Resource Management. my country for research would be Pakistan, so maybe i want to focus on macro issued of human resource management like governance issues, please guide me for some research in this area.

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Answer CAROL, IF YOU HAVE ALREADY DECIDED ON THE SUBJECT, -hrm role in corporate governance issues in HERE IS SOME USEFUL MATERIAL. REGARDS LEO LINGHAM =================================================== HRM s credibility problems PAKISTAN.

When it comes to corporate governance, HRM is often the victim of a vicious cycle. Because it lacks business perspective, HRM lacks credibility within the organisation. But without credibility, HRM often has trouble getting a foot in the door of business opportunities. Credibility is a massive issue for HRM. If you dont have credibility at the senior executive level, you can forget about doing things at the board level. Its just never going to happen. One way to establish your credibility is through your CEO and CFO, who typically sit on the board as well. They can talk up HRM at the board level if youve got that credibility with the CEO then translating that advisor/confidante role to the chairman level, and therefore exerting influence through that level, is very possible, But the first step for HRM is to establish credibility with the CEO and CFO . HRMneeds to present people solutions with the business primarily in mind, as opposed to solutions that focus on functional excellence: This is a key reason for that lack of credibility. Until HRM can establish that credibility with the CEO, the CFO and the rest of the executive, then the invitation to play a value-adding role at the governance level will not be forthcoming. THIS IS A WORLD WIDE PICTURE AND SO IT WILL EXIST

IN PAKISTAN. THIS HAMPERS THE ROLE OF HRM AND MORE ESPECIALLY IN THE ''CORPORATE GOVERNANCE ''.

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-HRM ROLE IN THE CORPORATE GOVERNANCE. -IS HRM AN INTEGRAL PART OF SENIOR MANAGEMENT. -HRM LEADERSHIP FIDUCIARY RESPONSIBLITY TO SHAREHOLDERS -HRM LEADERSHIP MORAL RESPONSIBLITY TO EMPLOYEES. -HRM ROLE IN CREATING TRUST IN CORPORATE BRAND IMAGE -HOW THE HRM FULFILLS THESE ROLES CURRENTLY. -HRM ROLE IN THE CORPORATE EXECUTIVE PAY NORMS. -HRM ROLE IN THE CORPORATE EXECUTIVE RECRUITMENT. -HRM ROLE IN THE DEVELOPMENT OF THE COMPANY 'S CORE COMPETENCIES -how recruitment/ selection can contribute to a better corporate governance. -how hrm benchmarking can contribute to a better corporate governance. -HOW HRM CAN HELP TO DEVELOP CORPORATE CORE VALUES. -HOW HRM CAN HELP TO DEVELOP CORPORATE INTERNAL MORAL STANDARDS FOR GOOD GOVERNANCE. -HOW HRM CAN HELP TO DEVELOP / MANAGE VARIOUS EXECUTIVE COMPENSATION BENEFITS / ITS IMPACT ON THE CORPORATE GOVERNANCE. -HOW CAN HRM HELP TO APPOINT BOARD MEMBERS

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WHICH WOULD HELP TO BUILD BETTER CORPORATE GOVERNANCE. ================================================ OTHER ISSUES, WHERE HRM CAN PLAY IMPORTANT ROLE issue one Key elements of good corporate governance principles include honesty, trust and integrity, openness, performance orientation, responsibility and accountability, mutual respect, and commitment to the organization. issue two Of importance is how directors and management develop a model of governance that aligns the values of the corporate participants and then this model periodically for its effectiveness. In particular, senior executives should conduct themselves honestly and ethically, especially concerning actual or apparent conflicts of interest, and disclosure in financial reports. issue three Equitable Treatment of Share-holders: The CEO should respect the rights of share-holders and help share-holders to exercise those rights. He can help share -holders exercise their rights by effectively communicating information that is understandable and accessible, and encouraging share-holders to participate in general meetings. issue four Interests of Other Stake-holders: The CEO should recognize that they have legal and other obligations to all legitimate stake-holders. issue five Role & Responsibilities of the Board: The board needs a range of skills and understanding - to be able to deal with various business issues and have the ability to review and challenge management performance. It needs to be of sufficient size and have an appropriate level of commitment to fulfill its responsibilities and duties. There are issues about the appropriate mix of executive and non-executive directors. The key roles of Chairperson and CEO should not be shared. issue five Integrity & Ethical Behaviour: The CEO should develop a code of conduct for their directors and executives that promotes ethical and responsible decision-making. It is important to understand, though, that systemic reliance on integrity and ethics is bound to eventual failure. issue six Disclosure & Transparency: The CEO should be ready to clarify the company's position to the share-holders and the board and management to provide share-holders with a level of accountability. They should also implement procedures to independently verify and safe-guard the integrity of the company's financial reporting. Disclosure of material matters concerning the organization should be timely and balanced to ensure that all investors have access to clear, factual information. issues [ seven to thirteen ]

Issues involving Corporate Governance Principles include: * Oversight of the preparation of the entity's financial statements. * Internal controls and the independence of the entity's auditors. * Review of the compensation arrangements for the chief executive officer and other senior executives. * The way in which individuals are nominated for positions on the board. * The resources made available to directors in carrying out their duties.

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* Oversight and management of risk.

issue fourteen Mechanisms & Controls: Corporate governance mechanisms and controls are designed to reduce the inefficiencies that arise from moral hazard and adverse selection. For example, to monitor managers' behaviour, an independent third party (the auditor) attests the accuracy of information provided by management to investors. An ideal control system should regulate both motivation and ability. issues [ fifteen -- seventeen] a. Supply of Accounting Information - Financial accounts form a crucial link in enabling providers of finance to monitor directors. Imperfections in the financial reporting process will cause imperfections in the effectiveness of corporate governance. This should, ideally, be corrected by the working of the external auditing process, but lack of auditor independence may prevent this. b. Demand for Information - A barrier to share-holders using good information is the cost of processing it, especially to a small share-holder. The traditional answer to this problem is the efficient market hypothesis, which suggests that the small share-holder will free-ride on the judgments of larger professional investors. However, there is an expanding empirical literature on apparent departures from this. c. Monitoring Costs - In order to influence the directors, the share-holders must combine with others to form a significant voting group, which can pose a real threat of carrying resolutions or appointing directors at a general meeting. The costs of combining in this way might well be prohibitive relative to the benefits.

issue

eighteen

The Role CEO in Corporate Governance To constantly improve what is essential to human progress by mastering science and technology Constantly Improve The CEO must have the oath "If you can't do it better, why do it?" It under-scores our drive to become an ever better and bigger company. Essential to Human Progress The products that are made by the company to find their way into products that provides people the world over with improved life-styles. One must understand and take pride in this. The company must also use this concept to further connect with the external markets and its serve. When the company thinks in terms of the markets it serve, the company becomes more outside-in focused and the company can better seek growth opportunities. Mastering Science & Technology The company must put the science and technology to work to create solutions for the customers and for society. Integrity The company believes that its promise is its most vital product - 'our word is our bond'. The relationships that are critical to the company's success depend entirely on maintaining the highest ethical and moral standards around the world. As a vital measure of integrity, the company will ensure the health and safety of its communities, and protect the environment in all it does.

issue nineteen Respect for People The company believes in the inherent worth of people and will honor its relationships with those who let it be part of their world. The company's stake-holders are the engines of value creation; their imagination, determination, and dedication are essential to growth. The company will work to celebrate and reward the unique backgrounds, view-points, skills, and talents of everyone. Respect for people is measured by how the company treats them, by the contributions that flow from the company diversity, by the productivity of the company's relationships, and by a job well done, no matter what the job. The company communities are the neighbors; their acceptance of the company is vital to its ability to operate. The customers are the company's partners in creating value; their loyalty is its greatest reward. The share-holders are the beneficiaries of the company's success; their on-going commitment to the company is based on returning to them superior profits over time. The company's respect for people also extends to the consumers whose lives it touches. The company will strive to answer people's most vital needs: for food, water, shelter, transportation, communication, health and medicine. issue twenty Unity The CEO must think like this, "We are one company, one team." The company believes that succeeding as one enterprise is as important as succeeding independently. Balancing empowerment and interdependence makes the company strong. As one company, impact on the world is far greater than the impact of any one of its parts. The company's stakeholders will work together, building relationships to create ever-greater value for the customers and consumers the company serves. issue twenty-one Outside-in Focus The company believes that growth comes from looking at opportunity through the eyes of customers and all those it serves. Taking an "outside-in" view ensures that the company's efforts are always relevant and that the company's unique talents are applied to "real world" opportunities. issues twenty two and twenty three The company will see through the eyes of those whose lives the company affects, identifying unmet needs and producing innovative and lasting solutions. The company will bring to this task all of its experience and knowledge as the unique individuals the company are.

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Agility The company believes its future depends on speed and flexibility - mental, emotional and physical. Responding resourcefully to society's fast-changing needs is the only road to success. The company will meet the forces of change with power and grace. The company will make course corrections that demonstrate flexibility as well as courage, and that highlight the company's ability to keep itself aligned with a world in motion. Innovation The company believes that meaningful, productive change - solving problems - only comes by looking at challenges and opportunities from new angles and exercising the company's curiosity. In the name of innovation, the company will make science a way of living. The company will not only master the science of the physical world, but the science of the mind and heart. The company's job is to unlock answers that make a fundamental difference to people's lives. The company will use technology to help lead society forward. The company will conceive, design, engineer, and execute solutions that remove barriers to human potential and productivity.

issues twenty five In a Nutshell Ensure group-wide adherence and commitment to the principles and values of . Foster a corporate culture that promotes ethical practices, encourages individual integrity, and fulfils social and environmental responsibility. Maintain a positive and ethical work climate that is conducive to attracting, retaining and motivating top-quality employees. Develop and recommend to the Board a long-term strategy and vision for the Group. Ensure that the day-to-day business affairs of the Group are appropriately managed by the MDs, and that proper systems and controls are in place for effective risk management of the Group. Ensure, in co-operation with the Board, that there is an effective succession plan for the CEO in place. Recommend to the Board the appointment of MDs and ensure succession plans are in place for those MDs. Consistently strive to achieve the Group's financial and operating goals and objectives. Ensure continuous improvement in the quality and value of the Group's products and service provided. Ensure that the Group achieves and maintains a satisfactory competitive position within its industry. Formulate and oversee the implementation of major corporate policies. Serve as the chief spoke-sperson for the Group. ###############################################################

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