Quiz 2: The Changing Legal Emphasis: Compliance and Impact on Canadian Workplaces
HR Analytics refers to the evidence based approach to make HR decisions on the basis of quantitative tools and metrics. In HR reporting there is no standard tool like financial reporting which makes it very difficult as managers choose what they want and how to report to employees, investors and others which hinders the real purpose of the data. For example a Manager representing the data of survey as retention and employee satisfaction the most critical and important factors than T D, recruiting etc. On the other hand a manager saying Your current turnover rate is X% that is what costs you much and this is what can be done like retention. Thus the latter case shows some actionable information for management and can be of great use. Thus the non-existence of the standard data and quantitative tools the HR analytics is not used by many organizations. Also the lack in consistency in HR reporting makes it difficult to evaluate an organization and to compare HR practices across organizations. Some of the characteristics which are essential while developing HR metrics Analytics include accurate data, Linking measures to operational strategic objectives, clear calculations, comparable results both internally externally. By incorporating all these characteristics the HR analytics can be successful in an organization.
Globalization: It can be defined as a tendency of any organization or technology to spread widely around the world. It provides constant communication and integration among all the connected people, businesses, etc. that involve in globalization. The increased interaction among the individuals or nations was stimulated with the growth in international trade, culture, and ideas. HR must consider all cultures, legal systems, and business practices in every country of the business' operations. Globalization has made more production available at any place of employment. The product on which current demand raises in other parts of the world, increases production at the required place. This has also opened opportunity for other factories around the world to open. As the operations are internationally HR that include language barriers and different education requirements at those areas.
Due to the changes in business environment, there are several changes evolved in HR functions and it has emerged as a strategic partner in the organization. It has to ensure the organization long term success by implementing the strategies effectively. The following are the steps that HR professionals can undertake during mergers and acquisitions: Before integration: • Analysis of all the operations of both organizations • Strengths and weakness in the different operations and their impact on merger • Assessment of work force, legal issues, work patterns etc. in both organizations During integration: • Assist the organization in providing administrative and operational support • Talent management and retention along with developing communication system in the organization • Acquiring the details of skill inventory and assessment of their performance • Identifying and solving the cultural conflicts • Act as a change agent in organizational change and developing a sustainable culture Post integration: • Reinforcing the systems and policies developed during merger • Minimizing the differences between employees • Formulation and implementation of strategies to get desired output for both the organizations HR can act as a change agent in mergers and acquisition to facilitate an effective change. It also acts as an auxiliary service by supporting both the organizations with its strategies. As it is people oriented, it can create a synergy out of the merger by identifying the talent in the organization