HUMAN RESOURCE MANAGEMENT

Human Resource Management

HRM: Human Resource Management

Introduction

This paper will discuss what practices are in State Farm Insurance Company that differentiates them from other companies. To evaluate HR policies of state farm company we will Compare and contrast these HR policies to those of other companies. We will discuss at least three of these policies.

Human resource management (HRM) plays a crucial role in success of any organization. Human resource or human capital as it widely called in today's world is the most important assets of any organization. The growth and success of any organization depends upon its human resource (Bahrami, 1997). How a company manages it, human resource determines its future success. A highly motivated workforce can increase the productivity of the business as motivation has a direct impact on the performance of employees.

Overview of the Company

State Farm is a cluster of financial services companies and insurance. It has been the largest insurer in Automobile sector, in America (Viviana, 2009). It is on top since 1942 it provides the services of insuring homes cars insurance against fire and etc. State farm is the largest companies of the main group other companies of state farms are owned by mutual insurance firm. The headquarters of corporate are in Illionis, and Bloomington, it falls at 32rd in the Fortune 500, in which companies are present in accordance of their revenues. State farm is the only company, which signs, P & C, i.e. the largest P & C mutual in the Europe. There are many types of personal insurance, social insurance, however, usually provides the government insurance programs, especially for points (Viviana, 2009). Age insurance now likely to be insured which protects against the financial for Disability insurance in case the insured person an income that is disabled; and is no longer able to work on the work becomes provides. Finally, some other products which State farm offers is, health insurance, an insured person in case of an expensive illness or medical problem helps to cover the costs.

Distinctive HR Policies and Practices

In this section, we will discuss the three main policies of state farm insurance company; which is giving this company a competitive advantage to other business firm in this industry. The three policies, which are relevant, are:

Selection Practices and job analysis;

Training and Development, and

Career Development.

Selection Practices

The aim of the selection process is to match the characteristics that people have individually with the requirements of the job. By So managers must find the proper fit between these two elements, for this must be based on the assessment of claims and needs or job requirements (Lepak & Snell, 1998).

Job Analysis

Job analysis refers to the process of developing the activities of a job. Also, involves developing a detailed description of the tasks that are important to define the relationship of the position and other positions discover knowledge, skills, abilities and skills required to carry out work effectively and successfully. There are several common methods of job analysis methods, such as:

Monitoring Method: This method is that an ...