Human Resource Management

Abstract

The purpose of this research is to evaluate the association between strategic human resource management and organizational performance in Wells Forgo. The company has designed ahealth and benefit package to retain and to motivate its capital asset. In order to carry out this study, qualitative research methodology was adopted. The research has made use of secondary data to present findings. According to the findings of the study, strategic human resource management allows a firm to gain a competitive advantage. With the help of strategic human resource management practices, organizations can develop a competitive advantage in terms of cost leadership, quality, and innovation. In addition, strategic human resource management also allows businesses to sustain their competitive advantages for longer time periods.

Protect Your Employees with Affordable Coverage

Introduction

The booming economies are running short of talent, therefore it is the need of the hour to recruit and train new workforce. In this regard, the human resource trainers and experienced recruiters join hands to develop a lot of trained and talented workforce which may lead the organizations to grow and expand in competitive environments. It highlights the strategic importance of human resource in organizations.

The dynamism in the environment has proved the strategic importance of human resource management tin organizations. Nowadays, the concept of managing human resource has gained an integral importance. As economies grow it would also give boost to business activity in the country. Therefore, in order to shoulder this business growth a strategic workforce is required. This pool of workforce would shape the business growth in the near future.

Company Introduction

Wells forgo a financial and advisory company with a documented vision in corporate America has been selected for this research paper. The company is on the view that an excellent and talented workforce can change the market picture as well as, beat the business graph also. They treat the employees as the capital assets of the company therefore the company is managing excellent human resource management program. Other than those companies who didn't care of their employees, Wells Fargo implements the core strategic human resource management program so as to earn maximum potential in the best possible way (delighting at both ends). The company has the award winning strategies of in the domain of managing human resource. One of the best methods to attract and retain the capital asset of the company is to design a proper compensation and benefit program. This would stick the motivation of the employee with the company. The compensation policies are designed in such a manner that it is same and equal for all, which is there would be no misconception among the employees.

Thesis Statement

How Wells Forgo attract and involve their employees through 401(k) Employee Benefit plan and how it benefits the Wells Forgo as well as, the employees”

Research Objectives

The research objectives of this research paper are as follows:

What is 401(k) Employee Benefit plan?

How this plan works to motivate and retain employees?

In what sense the 401(k) Employee Benefit plan will benefit him financially? ...