HUMAN RESOURCE MANAGEMENT

Human Resource Management

Executive Summary

Today many organizations are under pressure to improve performance. Organizations are experiencing massive changes in the demands for products and services they provide. This has increased the need for organizations to not only improve the way they deliver services, but also to examine their practices, organizational mission and goals, performance objectives, and performance measures. Thus, there is a new emphasis on the human factors associated with organizational goals and performance. The effective management of people within the organization is important to the organization's efficiency and effectiveness. The researcher known as Boyne in 2003 argued that public service improvement depends on better management, including a focus on leadership and human resource management (HRM) practices. He maintained the focus on regulations and organizational structure limits the progress of today's public organizations. HRM consists of all the tasks involved in ensuring the effective and efficient use of the people inside the organization to meet an organization's goals and objectives. The process of effective management of people means cultivating effective work environments, fostering employee participation and contribution to the organization's success.

Table of Contents

Executive Summary2

Introduction4

Overview of the Company4

Distinctive HR Policies and Practices5

Selection Practices5

Job Analysis6

Training and Development7

Career Development8

Human Resource Plan for State Farm9

Definition of HR Planning9

Importance of Planning10

Inadequacy of HR Planning11

Steps in HR Planning12

Forecasting12

Inventory12

Audit12

HR Resource Plan13

Action Plan13

The link between HR Plan and Strategic Management14

Monitoring and Control14

Implications for HR Practices in State Farm Company15

Conclusion19

References21

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 (Bahrain, 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.

This paper we will be discussing the HR practices implemented in State Farm organization and will be discussing how the human resource practices is aligned with the company's strategic goals and help in achieving those goals.

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 Illinois, 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 & ...