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HiringFor Fund Accounting With MNC- Group Manager/ DGM. Yellow Box HR Services Pvt. Ltd. Chennai, Coimbatore . Posted August 5, 2022 . Apply Now . Job Description . Role-GROUP MANAGER / DEPUTY GENERAL MANAGER - FUND ACCOUNTING . Location- Chennai/ Coimbatore. JOB SUMMARY VishwakarmaConsultancy Services India Right Job -> Right Time -> Right Place -> Committed Service.We compete in the employment services industry by offering a complete range of services, including permanent, temporary and contract recruitment, assessment and selection, training, outsourcing and consulting. GROUPCORPORATE SECRETARY / INVESTOR RELATIONS Telp: +62-21 8064 8498 Fax: +62-21 574 0150 corporate.secretary@map.co.id. MAP GIFT VOUCHER (Enquiries) cs@ sales@mapgiftvoucher.com mapgiftvoucher.com. MAP CORPORATE GIFTS (Purchase + Enquiries) Telp : +62-21 8064 8333 CompanyDescription: MNC HR SERVICES SOLUTIONS is located in New Delhi, Delhi, India and is part of the Management, Scientific, and Technical Consulting Services Industry. MNC HR SERVICES SOLUTIONS has 14 total employees across all of its locations. (Employees figure is modelled). WhoWe Are. MNC Associates, based in Chennai, is one of the leading corporate and small business registration services company with hands on experience in dealing with company formation, business service licenses, account services and other registration services. INTEGRITY. 90%. QUALITY. luật hấp dẫn 5 bước thực hành. It’s easy to understand why Canada is an attractive market for companies looking to invest overseas, with its abundant resources spread across the country and its consistently stable political environment According to Forbes, it is a welcoming business environment the second-best country in the G20 to do business and a highly-educated workforce make it an appealing place to invest, work and live. As a testament to its transparent policies and solid infrastructure, Canada was ranked 18th out of 189 countries by The World Bank in its Ease of Doing Business Survey from 2018. Specific business criteria that Canada ranks highly for include starting a business 2nd, protecting minority investors 8th and getting credit 12th. Surprisingly, the two areas where Canada scored relatively badly were enforcing contracts 114th and getting electricity 105th. With a low corporate tax rate and trade agreements with the key markets of Europe, the United States and Latin America, Canada is well positioned as a base of operations and a target for international expansion. Its competitive R&D environment and financial stability keep it driving innovation. As a leading provider in Canada for several decades, TMF Group provides many local-specific services alongside the global offering. Our local experts ensure you stay up-to-date with market and legislative developments. 1. Starting a Business Starting a business in Canada is a fast and user friendly process taking just a day and a half. Filing for incorporation and registering for VAT is all it takes. 2. Dealing with Construction Permits, Registering a Property & Getting Electricity Construction permits, on the other hand, are a long and cumbersome process, taking on average 250 days and 12 steps. In addition, in December 2017, the cost of construction permits for commercial use was increased, including a rise in fees for site plan approval and building permits. Registering a property takes 4 days and 5 steps. Getting electricity in Canada is also a challenge, taking on average 140 days and 7 process steps. Not only that, but the cost of electricity is exorbitant, especially in Ontario. According to Statistics Canada, electricity prices in Ontario grew by 71% from 2008 to 2016 - the fastest growth of any Canadian province, surpassing the 34% average growth across Canada. The country has plans for the privatization of electricity distribution to increase competition and reduce electricity costs in Ontario. 3. Labour The Canadian job industry has been facing a shortage of unskilled workers for the last 18 months and has reached crisis point. The main cause is attributed to Canada’s society, based on high education and high paying jobs. According to the latest annual Talent Shortage report by Manpower Group Inc., around one-third 32% of Canadian employers surveyed admitted to facing difficulties in hiring the unskilled workers they need due to labour scarcity. 4. Technology Canada has been a prime target for cybercrime state-sponsored attacks and lone hackers. The Federal agency reported an increase of more than 160% in cybercrime from 2015 to 2016, particularly in Winnipeg and Manitoba Statistics Canada. The government has a five-year plan with a budget of $500m to battle cybercrime and define Canada’s digital security strategy. Forward thinking, Canada is taking steps to future proof its workforce for the anticipated changes in job types towards technology, through an entire network of reskilling programmes. These programmes aim to teach new skills to people and help them to reskill in AI or place them in jobs in different technology fields. 5. Paying Taxes Canada has a low federal and provincial corporate tax rate of around 27% net and labour tax of just however the submissions process takes 131 hours per year. Federal VAT is 5% and some provinces have a provincial VAT and others do not. Some provinces harmonize or combine the provincial VAT with the Federal VAT and others do not. Ontario’s harmonized VAT for instance is 13%. 6. Trading Across Borders The challenge to trading across borders is understanding the differing provincial regulations, such as labelling and packaging requirements and certification standards and customs procedures. Exporters should be prepared for Canada Customs documentation, bilingual labelling, and packaging requirements, as well as Canadian federal and provincial sales tax accounting. This is where a local counterpart can assist companies through the many differences in requirements. 7. Enforcing Contracts The country ranks 114th in areas of contract enforcement in the World Bank 2018 report, as it can take around 910 days to make the contract come alive. This is mainly due to insufficient court capacity and cumbersome outdated court processes. 8. Resolving Insolvency Canada ranks 11th in resolving insolvency, in the World Bank 2018 report, with a recovery rate of cents in the dollar. The process takes, on average, eight months. 9. Obtaining Credit Although Canada ranks 12th in getting credit in the World Bank 2018 report, the challenge is the small business sector, who face funding challenges and inadequate infrastructure to expedite their growth and cash on future opportunities. Government initiatives are not very prominent, although there are initiatives in place. Some companies are unable to find the initial $500K or $1m of investment needed, whereas some struggle with securing investment to accelerate market growth. Recently, the trend has been for Canadian technology companies to turn to the US to get capital for their ventures. However, major banks and insurers in Canada announced plans to create a fund to invest up to $740m in small but growing Canadian firms as a part of the measures initiated to boost economic growth. 10. Culture Core Canadian values include fairness, equality, inclusiveness and social justice. This is demonstrated by the country’s governance approach, which includes public healthcare, higher taxation to promote the redistribution of wealth, the legalisation of same-sex marriage, the abolition of capital punishment and the suppression of far-right politics. English is the business language, but it is very useful to speak some French if doing business in Quebec. In Quebec business signage must be in French only. A handshake is the usual greeting, however, in Quebec colleagues or business associates may greet one another with a kiss on the cheek. Canadians value punctuality, and it is rude to be more than a few minutes late. Contact our local TMF Group experts TMF Group has the local knowledge to help you navigate any challenge or opportunity. Whether you want to set up in Canada or just want to streamline your Canadian operations, talk to us today. Learn more about TMF Group in Canada. Generative AI It’s powerful. It’s accessible. And it’s poised to change the way we work. On this episode of the McKinsey Talks Talent podcast, talent leaders Bryan Hancock and Bill Schaninger talk with McKinsey Technology Council chair Lareina Yee and global editorial director Lucia Rahilly about the promise and pitfalls of using gen AI in HR—from recruiting to performance management to chatbot-enabled professional growth. An edited version of their discussion follows. What’s so different—and so disruptive Lucia Rahilly There has been so much buzz in recent months about generative AI and tools like ChatGPT. Many people seem to be ricocheting between wonder at the potential of these tools and fear of their inherent risks. Lareina, what’s different about generative AI, and what’s behind its disruptive potential? Lareina Yee A couple of things stand out about generative AI. In November 2022, OpenAI released ChatGPT and within five days, there were a million users. So the speed of adoption was unlike anything we’ve seen. For me, what was most profound about that moment was that anyone—of any age, any education level, any country—could go onto GPT, query a question or two, and find something practical or fun, like a poem or an essay. There was an experience there that was accessible to everybody. We’ve seen a lot of advancement in the technology since then, and it’s only been a couple of months. A second super-interesting thing is you don’t need to be a computer scientist to leverage the technology—it can be used in all types of jobs. OpenAI’s research estimates that 80 percent of jobs can incorporate generative AI technology and capabilities into activities that happen today in work. That is a profound impact on talent and jobs, and it’s different than how we’ve talked about it before. In some ways, the genie is out of the bottle. It’s probably not the best strategy to try to put it back in. Lean forward and figure out how to use it in a way that’s productive and safe. Lucia Rahilly The immediacy of the use cases feels so novel and so lightning fast. Explain what generative AI is, so we’re working from a common definition of that term. Lareina Yee Generative AI is a technology that prompts the next best answer. A lot of people have used ChatGPT to summarize information, to draft a response to something, by pulling together an enormous amount of public data. But there’s also amazing imaging. I might want a song, audio, video, or code. Code is a huge example. It’s amazing the range of things that generative AI can do in the world, and it’s just getting started. Bryan Hancock I asked ChatGPT about myself, and it accurately reported that I do a lot of work on talent. However, it inaccurately reported that I went to Cornell because it assumed that Cornell was the most appropriate answer based on my background instead of the University of Virginia—where I did go. I thought it was very interesting that you don’t necessarily get what’s right but rather what’s logical. Lareina Yee In some ways, that emulates how we think. I’m not suggesting it’s thinking the way humans do, but in many ways, we use shortcuts and cues to make assumptions. That is kind of why people say, “Gosh, it feels really clever.” But to your point, Bryan, it’s not 100 percent accurate. There’s a great term for that “hallucinating.” What gen AI means for recruiters . . . Lucia Rahilly We’ll talk more about some of the risks, but let’s turn to what these kinds of generative AI capabilities mean for talent in particular. Do you expect generative AI to reshape or alter the recruiting process in any meaningful way? Bryan Hancock I think it’ll reshape recruiting in two meaningful ways. The first is helping managers write better job requirements. Generative technology can actually pull on the skills that are required to be successful in the job. That’s not to say managers don’t need to check the end product. They’ll need to be that human in the loop to make sure the job requirement is a good one. But gen AI can dramatically improve speed and quality. The other application in recruiting is candidate personalization. Right now, if you’re an organization with tens of thousands of applicants, you may or may not have super customized ways of reaching out to the people who have applied. With generative AI, you can include much more personalization about the candidate, the job, and what other jobs may be available if there’s a reason the applicant isn’t a fit. All those things are made immensely easier and faster through generative AI. Bill Schaninger The best application of gen AI is in large skill pools where you’re trying to fill a reasonably well-known job. We need a more productive and efficient way to navigate all the profiles coming through. Where it makes me a little anxious is anytime it’s a novel job—a new role—or even, in US law, a job that’s changed more than 25 percent or 33 percent. In those cases, you have to go back and revalidate the criterion by which you would judge people in or out of the pool. The challenge with validation is you need a performance criterion to regress against and say, “What’s the difference?” In some cases, that means figuring out how to get that criterion out of a data lake without encroaching on other people’s proprietary performance data. If you say, “Well, we’re only going to use our data as the employer,” then you are only basing the criterion off people you’ve already hired. And to validate, you have to look at the people you didn’t hire. So it doesn’t mean the technology can’t be used. It just means there’s probably a little bit more front-end work on applying it to novel jobs and a wide-open opportunity for the big skill pools. Lucia Rahilly We talk a lot about having over-indexed on credentials and under-indexed on skills in the recruiting process. Does generative AI have a role in accelerating that shift from credentials like college degrees to the skills that candidates are actually capable of contributing to the workplace? Lareina Yee I’m optimistic it can. One thing this technology does extremely well is tagging—the ability to tag unstructured data for words. There are a lot of businesses that are thinking about applying that to e-commerce, to different types of retail experiences. But you could also apply it to talent acquisition or looking for capabilities. Now you don’t need to look for a credential or a degree. You could look for keywords in terms of capabilities and skills. Looking at social media, how do people talk about certain capabilities? You may find there are better words to associate with those who have those skills. Think of a world where you want to be able to find candidates who have amazing experience from learning on the job but don’t have PhDs or college degrees. I’m optimistic that this could open more doors for folks like that. Bill Schaninger This is an interesting trade-off in the business world, which likes proprietary data sets and grouping of profiles. The real power might be, “How much can you get in the public domain until you start bumping up against paywalls?” Long ago, when LinkedIn was bought, the APIs got limited to job titles—not necessarily all the spec that was underneath it. There is power in these pools—in particular, in profiles of jobs—because then you can go look at tasks and skills. I’d imagine there’s going to be a race here toward figuring out how we can piece these together to form the ontological cloud, if you will, of “these 17 things describe this skill.” Because it really is about skills and not credentials. . . . And what it means for professional growth Bryan Hancock You can also think about this as aiding a skill-based transition not just from the employer’s perspective but from the candidate’s or employee’s perspective. In the current world, if you’re somebody who may have some skills but don’t have a very clear view of what your career opportunities might be, you are highly dependent on a manager or somebody taking an interest in you and helping to navigate you to “nontraditional” paths. But in a world of generative AI, you could have a conversation with a very intelligent chatbot and say, “Hey, here are my skills and experiences. What jobs could be open to me?” And it could come back and say, “Well, most people with your skill profile do these things, but some do A, B, C,” with “C” being coding. And then, you could say, “Tell me what these jobs in coding would be,” and it could pull a job description for a coder that is not just geared toward an IT person but translated into words you understand. Then you could say, “OK, this is great. I’m interested. What learning experiences do I need?” And generative AI could tell you what those learning experiences are. So for somebody who has the innate ability but not the visibility, generative AI can illuminate a range of career paths and start helping people understand how to get there. Lareina Yee Imagine I’m ten years into my career and I’m feeling a little stuck. What if I had a professional development AI assistant that helped me think through questions like, “What type of job should I seek? What are the types of roles within my company? How do I think about them?” and “What classes would I take?” as opposed to waiting for someone to reskill me—which sounds awful. How do I take the initiative ten years into my career to build the skill sets and understand the range of jobs available for my capabilities? That would be so cool. Bill Schaninger Depending on the regulatory environment you’re in, you’re not allowed to make any selection decision without a human being involved. This is particularly true in the EU. It’s a nice way of augmenting human work but not cutting out the decision making. On the employee side, it should provide much more transparency; you can actually see how close you are to a lot of things. I love it for the employee experience part. I get anxious about the selection part just because we’re still not sure about what’s in the data lake and how good people are at prompting the AI. Lareina Yee Right. It’s great to give you some options, but it’s not an answer or a recommendation engine. Your judgment matters. Bryan Hancock Another thing we’re seeing is that ChatGPT—and generative AI more broadly—can be particularly good at getting new workers more quickly up to speed. There’s interesting research that Erik Brynjolfsson at Stanford, along with others from MIT, have recently come out with, which looks at call-center workers. They found that generative AI functionality wasn’t all that helpful for the most experienced representatives. It was incredibly helpful with new folks because they were able to get that institutional knowledge much more quickly. It was at their fingertips. They could ask a question and get the answer. So the productivity of new folks was dramatically higher. Generative AI really gets you 80–90 percent of the way to full proficiency. Lareina Yee Bryan, I love that, and I share the optimism. What’s new for the performance review Bryan Hancock One of my personal favorite uses for generative AI on the people front is actually for performance reviews. Hear me out I don’t want generative AI actually generating somebody’s performance review. That needs the human in the loop, needs human judgment, needs empathy. But let me use this example of what I do as a McKinsey evaluator I get written feedback from 15 to 20 individuals. They enter it into a digital system. I’ve got long-form feedback. I look at upward feedback scores that include written commentary as well as specific number-based scores. I look at how often people were actually deployed on engagements. I look at compliance-related measures. Did they turn in their stuff on time? A whole range of things. For me, as an evaluator, getting to a first draft is an incredibly arduous process. I take pride in the time and the thoughtfulness that goes into it. But what if I could hit a button and get a draft? When I have each of the conversations with the 15 people that best know the person I’m evaluating, what if I had a draft I was already working from? It’s not a replacement for going through everything, but that initial synthesis would help me get more quickly to what I really need to probe for that person’s development and growth. I’m excited about that use case because it eliminates a lot of work. At first, many people would think, “I’d never want generative AI anywhere near performance reviews.” But it’s exciting if we think of this as a productivity aid or as something that helps us be even better. Lareina Yee Now let’s talk about the employee he’s evaluating. The employee gets the feedback, and Bryan probably wrote it clearly, and he delivered it with empathy, so the person is feeling, “OK, I’ve got some strengths, and I’ve got some development needs.” But what if I, as the employee, can query, “Who are five success models with my strengths and weaknesses, and what have they gone on to do? How can I visualize my career development? How can I continue to work on it?” I could also have an assistant that helps me map my professional development. In that way, when we check in a year later, I’ve really improved and increased my aspirations. What if Bill is someone I should model myself on? Instead of Bryan having to introduce me to Bill, generative AI helps me realize that I’ve got the makings of a Bill Schaninger. I can be inspired by that. I think there’s a lot that enhances what we’ve been trying to do so laboriously for years. Bill Schaninger We talk about putting the manager back in performance management. Every time you talk to somebody about something good or bad, log it away. That way, at the end of the year, it’s more of an aggregation and synthesis, and it’s not a surprise to anyone. But that requires regular entry. So while I love what you’re describing, it’s not the tech that does that; it’s the people committing to the common data capture and the common approaches that enable it. Bryan Hancock Your point is well-taken. Then, as an evaluator, I apply my human judgment. Bill Schaninger The normative data is nice. When we get our sponsorship and mentorship data at McKinsey, we see how we compare to other partners in a given region. If you don’t have a reference point, though, how would you know what “good” actually is? When you get the normative data, you can start getting some guidance. I like all that, and it’s all enabled by huge amounts of data. If this enables a more robust and wholesome view of actual performance, it makes it a whole lot easier to have a difficult performance conversation. We need to put the manager back in performance management. But can we make it easier on managers so they can spend the time managing instead of scribbling out a schedule or knitting together 15 data points? Bias and other risks Lucia Rahilly Let’s talk a bit more about some of the risks. Generative AI learns based on historical data, and historical patterns of data reflect historical biases. By relying on generative-AI-driven tools, what’s the risk we are inadvertently propagating these inherited biases? Lareina Yee Certainly, today, generative AI can amplify bias. Let’s say I’m recruiting, and I describe some different qualifications. I’m looking at urban centers of talent, and I decide I’d like to look for basketball captains; or perhaps, instead, I say that lacrosse captains are desirable. These are team sports with captains and leadership, so in some way that makes sense. But if you look at demographics, who plays basketball in cities is very different from who plays lacrosse. And so, by emphasizing lacrosse, you will typically get more young White male leaders, whereas if you chose basketball, you might find more African Americans or Latinos. What about softball, where we see women? What happens if, instead, we select a whole set of sports? Even then, just the selection of the sports as a filter could amplify bias in the questioning. I think the power of the question is on us as humans. Bryan Hancock Of course there are also intellectual property concerns. But I also think there’s a risk of us all becoming less interesting. If you are somebody in a creative field and you leverage generative AI to get your output up from six articles a week to 12, you’re spending less time per article. You may need to do that to get to publication in time, but that also means you’re not spending as much time in the shower, on a run, or in the car thinking about the articles. Your productivity will go up, but you may not necessarily have as much time for creative thinking. We know that the most creative thoughts come from downtime—when you’re doing something else and letting your mind wander. This risk of being less interesting is important, and one that we may not have fully thought through yet. Lareina Yee Precisely. There are a lot of risks. Let’s also think about leaders who are implementing this technology. Often people had a workflow where they would think about a technology and the business return on investment, and only at the end would ask, “Are there any risks we should worry about?” I would strongly recommend that you think about risk up front in the workflow design. The other thing is there’s a real opportunity for what we typically call “change management.” If you don’t think through how the technology changes the job, workflow, or collaboration model, then you’re not necessarily directing that additional time toward something that’s more value added. You need to think about how it affects the rest of the workday and workweek. Bill Schaninger In many cases, we’d like to blame the technology and not highlight the poor problem solving that happened just before implementing it. Getting a better, shinier tool that’s faster and more expansive doesn’t relieve you of the burden of thinking things through. Lareina Yee The bigger thing to call out here is that three of us have spent this time thinking about all the positive intentions and the ways we can use this for good. But there are probably people who are thinking about this technology and asking, “How can I use this for harm?” Traditionally, this is why government regulation, policy, and international standards play a fundamental role in our society. I don’t think you can completely leave it to the private sector to self-regulate. Preparing for the inevitable Lucia Rahilly A big concern for people is that these kinds of tools will eliminate their job or—potentially even worse—become their bosses. What do you think people can do now to prepare for the changes that are coming with generative AI? Bill Schaninger I would try to make it easier for them to learn and play with it. This is better than continuing to try to resist it. I don’t think we should become beholden to these fears. Lucia Rahilly And assuming HR and talent processes become increasingly automated, how can leaders ensure that generative AI doesn’t get in the way of what Bryan called “the human in the loop?” Lareina Yee Leaders have a huge role to play in two ways. One is to modernize and leapfrog their own talent capabilities within their functions. And second, if 80 percent of their workforce is shifting, they play a huge role in how that happens and how it affects employees at their companies. I think leaders have a huge voice at the table. Bryan Hancock It’s a tremendous opportunity for HR to increase access to opportunities for huge swaths of their workforce. It’s an opportunity to get managers more consistently up to the level of performance that HR leaders have always wanted them to achieve instead of working on administrative tasks. I hope that HR would view this as an opportunity to routinize and get rid of the work that they don’t have to do. Then for the work that they do have to do, they can use this technology to find a way to get better answers more quickly. ₹20,00,000 - ₹22,50,000 a year MBA Literature review The Relevance of Innovative Human Resource Programs to Facilitate Global Expansion of Multinational Companies MNC’s from the UK. 2. Introduction The activities of multinational companies MNCs are at the heart of Britain’s internationally open and global economy. This global economy has emerged as companies all over the world are joining forces through alliances, mergers, joint ventures, acquisitions, and the like, thus creating the need for a constant mobile workforce and the HRM strategies to support and develop it. This would therefore imply a fundamental shift in the role of human resources from transaction and administration to strategy and business transformation through innovative programmes which supports the global strategy of the company. This section gives an overview of the literature review and the theoretical basis for the forthcoming chapters. The chapter consists of journals, books and research materials which throw more light into Innovative Human Resource Programs to Facilitate Global Expansion of Multinational Companies MNC’s from the UK. The following were the primary information sources used for the literature review; ACM Digital Library Pro-Quest Direct EBSCO Publishing Gale Group Info Track OCLC First-Search Java Sun Microsystems Library IEEE Library Emerald Database Evolution from Personnel Management to HRM According to Guest 1987, the origins of the traditional concept of personnel management can be traced to the post World War One welfare tradition’ of concern for the basic needs of employees. The developing and mature phases of personnel management from the 1940s to the 1970s saw an increase in the status and professionalism accorded to the personnel function, particularly in relation to industrial relations IR matters see Sparrow 2004. The concept of HRM, as a new strategic approach to the management of people, evolved in the early 1980s Ericksen 2005. Its evolution was influenced by a range of factors, including increased competitive pressures caused by deregulation and globalisation, and the influence of notable academics in the US and the UK Ericksen, 2005. Although it has been suggested that HRM may be no more than old style personnel management with a new name’ Gunnigle and Flood, 1990, Storey 1992 identifies four features of HRM which distinguish it from traditional personnel management it is explicitly linked with corporate strategy; it seeks to obtain the commitment of employees rather than their compliance; employee commitment is obtained through an integrated approach to human resource policies for example, reward, appraisal, selection, training; and unlike personnel management, which is primarily the domain of specialists, HRM is owned by line managers as a means of fostering integration. Approaches to Human Resource Management Hard Approach If an organisation focuses on control of resources and achievement of strategy, it may adopt a hard’ approach to HRM see Storey, 1989 in which employees are viewed as a resource to be managed like any other factor of production. In this approach, the critical task for management is to align the formal structure and HR systems of the organisation so that they drive the strategic objectives of the organisation. This approach is exemplified in the strategic model of HRM developed by Fombrun et al 1984. It has been argued however that an over-emphasis on hard HRM ignores the potential resistance of workers and trade unions, factors which cannot be ignored if business strategy is to succeed see Hendry, 1995. Soft Approach In contrast, an organisation may place an emphasis on a soft’ approach to HRM Storey, 1992 p. 30, in which employees are viewed as a valuable asset whose commitment will assist in achieving organisational success. The objective for organisations in such an approach is to integrate HR policies with the strategic planning process, to gain the willing commitment of employees, to achieve flexibility through avoidance of rigid bureaucratic structures and to improve quality see Guest, 1987. The most well known soft’ model of HRM is known as the Harvard Model of HRM Beer et al 1984, views business strategy as just one situational factor which influences management’s approach to HRM. This model identifies a range of other situational factors which influence HR policy choices, including prevailing management philosophy, laws and societal values. In the context of this study, this model is significant in that it identifies a range of stakeholder interests including unions, government and management which influence HR policy choices. It is argued that unless HR policies are influenced by key stakeholders, the enterprise will fail to meet the needs of these stakeholders, and ultimately its own objectives see Beer et al 1984. Ideal Type Model Integrated links from Personnel to HRM Storey 1992 outlines a further model which illustrates the process involved in shifting from traditional personnel management to HRM. While this is an ideal type’ model, it comprises features which are significant for this study. For example, it stresses the need for integrated links between beliefs, assumptions, management issues and key elements of HRM. It also identifies key levers of change in the various elements of HRM, including recruitment and selection, training and development and conditions of employment. A strategic approach to HRM can be developed by creating effective policies in these areas Storey 1992 The integrative aspects of HRM A key theme running through many of the models is integration, which according to Guest 1987 lies at the heart of HRM. He identifies integration at three levels integration of HRM policies with business strategy; integration of a set of complementary HRM policies; integration of HRM into the line management function. The Role of Management According to Storey 1992, best practice indicates that the extent to which the transition process from traditional personnel functions to strategic HRM functions can be achieved will be influenced significantly by the belief and support of senior management in the added value that HRM can contribute to the organisation. More importantly, this belief must be visibly demonstrated, for example by committing additional resources to the development of HR strategy and the building up of HR skills levels. As a first step, the head of HR should be afforded a genuine role in the formulation of key business decisions. This contribution must be an integral part of the business strategy formulation process, so that HR issues are accorded a key priority as opposed to simply being added on to, or indeed excluded from, the core business of the organisation. On an ongoing basis, heads of HR should also be enabled to have a genuine input into decisions taken at top management level which have implications for HR. Clearly, if the head of HR is to be enabled to play a genuine role in ensuring that HRM issues become a top management priority, it is important that the professionalism accorded to HR, for example through the development of expertise in integrating HR and business strategies, begins at this level. Definitions Innovative HR Programmes According to Agarwala 2003, defines innovative human resource programmes of a company can be described as “Any intentional introduction or change of HRM program, policy, practice or system designed to influence or adapt employee the skills, behaviours, and interactions of employees and have the potential to provide both the foundation for strategy formulation and the means of strategy implementation that is perceived to be new and creates current capabilities and competencies” Agarwala, 2003. Innovative HR Programmes According to James 2002, innovative programmes can be grouped into a set of new initiatives which are associated with the process of developing a strategic approach to HRMenhancing its competitiveness. A few of these include Reducing costs through shared services centres, self-service, and outsourcing. Develop uniform HR processes recognising local regulatory requirements to help foster a low-cost, administrative delivery model. Create a self-service culture for employees and managers. Establish global employee shared services centres focused on delivering HR administrative support to multiple geographic areas, thereby reducing administrative overhead. Outsource key services that can be more efficiently managed and administered externally. Streamlining technology and information management Improve information access to help companies more efficiently manage their human capital assets, provide employees and managers with enhanced access to information, improve HR reporting, and address growing compliance requirements. Reduce HR technology operating costs by consolidating multiple technologies, technical infrastructure, and IT skills. Managing people globally Help enable the company to respond to the interdependencies of global markets by managing human assets globally rather than nationally or regionally thereby improving competitiveness in the international marketplace. Enabling HR to shift its focus from administration to strategy Remove the administrative component of the work of business HR professionals, enabling them to provide more value-added services and to focus on consultative and analytical interactions with line managers. Facilitate HR’s transition to a strategic partnership with the company by upgrading talent and skills within the HR function. Background Human Resource Evolution According to Cooke 2003, first Generation HR Transformation represented a fundamental shift in HR’s role, from transactions and administration to strategy and business transformation. First Generation HR Transformation focused on changing the existing relationship between employees, managers, and HR, Randall 2006. With technology as a key enabler and process re-engineering playing a pivotal role, this First Generation effort sought to help make employees more self-sufficient, whilst asking them to take more responsibility for their own careers Datta et al 2005. It also sought to help remove HR from the middle of the employee/manager relationship by making managers more responsible for handling their employees’ HR needs. Over the past ten years, HR Transformation has led to a major restructuring of HR operations and processes transforming the way HR services are delivered Cooke 2003. UK MNC’s Achieving Global Expansion MNCs in the United Kingdom have long been well established in manufacturing, but in recent years they have emerged as dominant players in the private service sector and have even become involved in the provision of public services Edwards 2004. Levels of both inward and outward investment are high foreign direct investment FDI into the UK by companies based overseas accounts for almost 9% of the total global stock while UK-based companies’ investments overseas account for over 14% of the global stock Edwards 2004. In both instances, the UK is second only to the world’s largest economy, the United States. As a result MNCs are significant employers in Britain; for example, 18% of the workforce in the production sector are employed by overseas-owned companies with many more being employed in the domestic operations of British-owned multinationals Edwards 2004. For multinational companies in the UK to achieve a successful transition in their drive for global expansion and competitive advantage, multinational companies would require innovative HR programmes which would enable them to anticipate critical workforce trends, shaping and executing business strategy, identifying and addressing people-related risks and regulations, enhancing workforce performance and productivity, and offering new HR services to help a company improve and grow Edwards et al 2007. HR Practices Effectiveness A number of authors have explored the links between individual HR practices and corporate financial performance. For example, Lam and White 1998 reported that firms’ HR orientations measured by the effective recruitment of employees, above average compensation, and extensive training and development were related to return on assets, growth in sales, and growth in stock values. Using a sample of banks, Richard and Johnson 2001 examined the impact of strategic HRM effectiveness ratings of how effectively a variety of HR practices were performed on a number of performance variables. They found that strategic HRM effectiveness was directly related to employee turnover and the relationship between this measure and return on equity was stronger among banks with higher capital intensity greater investments in branches. In this thesis, HRM would be described in the context of a number of innovative practices which have been proven to enable MNC’s manage the transition process in their drive for global expansion, thus enabling organizational effectiveness and better performance outcomes. Wright and McMahan 1992 defined innovative human resource programmes as practices and activities employed to enable an organization achieve its goals. These practices are seen as a departure from the traditional HR activities. Delery and Doty 1996 asserts that these practices are key drivers required by MNC’s to respond with the right strategy as they expand their operations in different environments Boselie et al, 2005. Empirical Research Human Resource Factors & MNC Global Expansion The drive for global expansion by UK MNC’s has necessitated the need for a human resource strategy that would ensure that the company is able to sustain its workforce. This has therefore led to the departure from the traditional HR administrative role to a more robust global HR function which takes cognisance of employee profile, the work and environment demographics, de-skilling, re-skilling and multi-skilling and issues related to outsourcing and synergy of its processes vis-à -vis work-force reduction Lam and White 1998. The largest survey of employment practice of multinational companies MNCs in the UK was carried out by Edwards et al 2007. The key findings from the first large-scale, representative survey of employment practice in MNCs which have operations in the UK. The survey is comprehensive in its coverage of all but the smallest international companies. The findings derive from interviews with senior HR executives in each of 302 multinationals operating in Britain, both overseas- and UK-owned. The findings from the research suggest a connection between human resource practices and the performance of firms, a summary include the following HR programmes stated below. Innovative HR Practice Compensation & Payment 85% of the firms surveyed were found to have a robust innovative program in terms of compensation and payment. This is achieved through a performance appraisal programme such as upward/peer appraisal and forced distribution. 72% of the MNC’s utilized an innovative scheme for managers, through individual ‘output’ criteria which were supplemented by a range of other criteria including behaviour in relation to desired competencies and to corporate values. Innovative HR Practice Training & Development Programmes In respect of adoption of high potential innovative training programmes among MNCs, the organisations were asked if both their UK and overseas operations had a management development programme specifically aimed at developing its ‘high potentials’ or senior management and employee potential. The data show that high potential programmes are adopted by 70% of organisations; 30% of organisations are not using them. Organisations were asked whether they used a global high potential programme that was adopted elsewhere worldwide, or a local, nationally specific programme. Most organisations indicated that their programmes are global in scope. Innovative HR Practice Appraisal Activities In comparison of performance appraisal practices and management values, the formal performance appraisal schemes for all three groups are very widespread; over nine out of ten firms have them for key group and managers, and over 80% have them for large occupational groups. Only 3% of firms have no formal appraisals at all. Just over a fifth of firms use ‘forced distributions’ for the results of appraisal. A clear majority of firms use the results of appraisal as the basis of decisions on redundancy and redeployment. Innovative HR Practice Employee Involvement & Communication UK-based multinationals most commonly cite ‘setting a broad policy HR programme as being significant or very significant 62% and 66% for training and development and for employee involvement policy respectively. HR advice and consultancy is also relatively prominent for training and development policy 53% significant or very significant, but less so for employee involvement policy 33%. For training and development, and employee involvement, policy, the respective proportions reporting the other means of influence as significant or very significant are setting detailed HR policies 32% and 31%; monitoring HR policy implementation 39% and 34%; and HR benchmarking and information exchange 42% and 28%. Innovative HR Practice Global Knowledge Sharing & Diffusion In respect of innovative HR programmes which promote employee knowledge, learning and diffusion, international employee learning mechanisms are used extensively across all MNC both within the UK and across overseas operations. The survey focused on five formal organisational learning mechanisms used by managers that are international in their scope International projects groups or task forces, which are often used to address specific issues; International formal committees; Secondments involving the placing of MNC employees in external organisations such as suppliers, customers, universities or private R&D companies; Expatriate assignments The evidence showed that the most common organisational learning mechanism adopted among the managerial community within MNCs is the informal network used by 84% of companies. International project groups/task forces also play a prominent role used by 73% of organisations and to a lesser degree expatriate assignments used by 60% of organisations and international formal committees 53% of organisations. In contrast, secondments are only adopted by around a quarter of the organisations 26%. The majority 82% of organisations use two or more organisational learning mechanisms, with 53% adopting between three and four of the five organisational learning mechanisms among their managerial community. Around 9% fail to use any of the mechanisms listed. MNCs requiring integration between the UK operations and other sites worldwide are significantly more likely to adopt multiple organisational learning mechanisms Tregaskis, Glover and Ferner, 2005. However, these national variations show that the form that organisational learning and diffusion take is strongly shaped by the national context of the parent firm. Innovative HR Practice UK MNC’s Use of Shared Services According to Edwards et al 2007, the findings from the study found that half of the UK MNCs operate shared services centres and have international HR policy formation bodies. They are far less likely, compared to US and other European MNCs, to have a worldwide approach to workforce management. UK firms consistently aim to pay a greater proportion of employees managers, LOG and key group in the top or 2nd quartile. Nine in ten UK firm have performance appraisal for their managers while seven in ten have formal appraisals for their LOG Edwards et al 2007. Use of forced distribution is uncommon as is the use of 360-degree feedback. An overwhelming majority of UK MNCs tend to recognise trade unions for collective bargaining purposes. Formally designed teams and problem-solving groups are commonly found in UK MNCs as are a large number of communication mechanisms with meetings between line managers and employees, newsletters/emails and systematic use of the management chain the most commonly found communication mechanisms. Although the majority of UK MNCs have succession planning and formal management development programmes these tend to be comparatively less than other MNCs. Use of Expatriates According to Edwards et al 2007, UK MNCs make considerably greater use of parent country expatriates than third country expatriates. This may reflect the short geographical proximity and cultural similarity between the UK and Ireland. UK MNCs tend to have considerable discretion over the various HR policy areas, much more than US firms. IT Based Networks & Services A key development in HR service provision over the past two decades has been the increased use of information technology IT Edwards et al 2007. This is all the more relevant in MNCs, where IT systems may be used to monitor policy implementation and performance, and also to facilitate communications and networking, across borders. It thus provides an insight on the extent to which corporate management has access to HR data on its international operations and can compare performance on HR metrics across sites and countries. Specifically examined was the usage of IT based HR information systems HRIS and ‘shared services’ provision on an international level. In regard to the diffusion of HRIS, respondents were asked whether the worldwide company had an “HR Information System such as PeopleSoft or SAP HR that holds data relating to the firms international workforce”. The responses for both foreign and UK-owned MNCs showed that just over half 54 per cent of all MNCs in the UK reported the use of HRIS that operates on an international basis. This is a similar to a study by Collings et al 2007, that found in the parallel UK study, where some 52 per cent used such a system Edwards et al., 2007. However, among MNCs in the UK, a greater proportion of foreign-owned MNCs 56 percent than UK-owned MNCs 44 per cent reported the use of HRIS on an international basis Edwards et al 2007. There were some discernable differences in regard to ownership. As indicated from the study, American firms were the highest users of HRIS 70 per cent, while the ‘rest of the world’ MNCs is the least likely. This again resonates with the UK findings where US MNCs were among the greatest users of HRIS and Japanese MNCs the lowest Edwards et al, 2007. The impact of sector on the take-up of HRIS will be fully outlined and placed in the appendix in the forthcoming chapters. Among UK MNCs, the service sector accounted for the greatest number of firms with HRIS. However, among foreign-owned MNCs multi-sector firms were by far the largest users, followed by those in the service. Previous Research Human Resource Factors Previous studies have been utilized in exploring the current human resource innovative programmes that UK MNC’s must take into account in their drive for global expansion. One of the main limitations of this review is that it is limited within the context of UK MNC’s as there was the lack of evidence to determine the effects of these practices on MNC’s operating in the context of both emerging and non-emerging economies. This is in consonance with Ericksen and Dyer 2005 and Wright et al’s., 2005, both of who also called for further empirical research from different contexts. Gerhart 2005 substantiate the question, to what extent are these innovative HR programmes valid for other context by saying “This is a concern because it seems unlikely that one set of HR practices will work equally well no matter what context”. To shed more light on the issue and to further examine the relevance and effects of such programmes, it is important to conduct research in non-US / UK context, Katou & Budhwar, 2007, especially in emerging economies. HR Factors for Global Expansion Effectiveness Previous research has explored the links between individual HR practices and corporate overall performance. For example, Lam and White 1998 reported that firms’ HR innovative programmes which are largely measured by the effective recruitment of employees, compensation programme, and extensive training and development were related to return on assets, growth in sales, and growth in stock values. Using a sample of manufacturing companies, multinational servicing companies and global financial institutions, Richard and Johnson 2001 examined the impact of strategic HRM effectiveness ratings of how effectively a variety of HR practices were performed on a number of performance variables. The findings suggested that implementation of innovative HR programmes had an effect on employee turnover and the overall performance of the company. Recruitment & Selection According to Terpstra and Rozelle’s 1993, who compared the relationship between recruiting / selection practices among US / UK MNC’s and the firms performance, it was found that there was a strong connection in the company’s performance between implementation of the new HR practices and the previous traditional practices, this was focused mainly on recruiting, selection and the use of formal selection procedures and firm performance. Cascio 1991 also states that the improved performances recorded after implementation of such new HR practices are generally substantial. Employment Training Programmes Russel, Terborg and Powers 1985 in a survey of 30 US MNC’s establish a link between the adoption of employment training programs and financial performance. The use of performance appraisals Borman, 1991 and linking such appraisals with compensation has strongly been connected with the performance of a firm. Gerhart & Milkovich, 1990. Koch and McGrath 1996 reported that firms using more sophisticated staffing practices planning, recruiting, and selection had higher labour productivity. Communication & Employee Involvement Huselid 1995 reported that HR practices can influence firm performance through provision of organization structures that support involvement among employees and provides flexibility for improvement of job performance. Green et al 2006 states from findings of a survey that organizations that vertically aligned and horizontally integrated core human resource functions and practices performed better and produced more committed and satisfied HR function employees who exhibited improved individual and organizational performance. Other Models Most of the work on innovative human resource programmes and the company’s performance has been undertaken in the context of MNC’s who consider the US and the UK as their home country. The question which arises, though, is whether the UK and US-oriented models are appropriate and representative in other contexts see debate in special issue of the International Journal of Human Resource Management, 127, 2001. Other studies analyzed such as Harel and Tzafrir 1999 found that in parts of Asia and the middle-east, innovative HR practices were related to perceived organizational and market performance. Bae and Lawler 2000 did find a significant relationship between HR practices and firm performance in their sample of 140 manufacturing firms in Asia, covering china, Japan and South Korea. Lee and Miller 1999 also found a strong relationship between HR practices and performance among a number of MNC’s in Asia, but it is clearly stated that this relationship was most strongly pronounced among firms using dedicated positioning marketing differentiation or innovative differentiation strategies. Bae et al., 2003 in their study of HR strategy in Pacific Rim countries found that the evidence of a strong relationship was however based on strict high-performance work system with a number of variable conditions. Morishima 1998 found support for the contingency perspective in a sample of Japanese companies. Firms with well-integrated high-involvement work practices and firms with well-integrated practices consistent with more traditional Japanese employment strategies both did better than firms with poorly integrated practices. Bae et al 2003 in their investigation of Hong Kong multinational companies found an increase in the firm’s performance due to certain core innovative HR work practices training and compensation techniques with high involvement characteristics. Implementation Whilst there are currently limited researches in respect of implementation of innovative HR programs in the context of UK MNC’s, however, according to Briscoe and Schuler 2004, Implementation may vary in respect of ‘what and how’, thus limiting the value of comparative survey research. Chew and Horowitz 2004 states that the subject of implementation should only be considered in the context of the specific MNC or firm involved, as there are lots of contextual factors and limitations in implementation hence the need to be cautious and dissuade any hasty conclusions when taking on findings from research journals on implementation. Horowitz 2004 states that primary research on implementation would need to focus on contingency approaches and mediating variables affecting the MNC level application. A number of theoretical approaches would also add to the importance of ‘context’ frameworks such as integration/divergence or universalism versus local particularism, and ethnocentric, geocentric, regiocentric and polycentric managerial strategies Chew et al 2004. The author believes that such an extensive approach would not only examine the relationship between human resource innovative practices and relevance, but would take into account the host environment. Implementation & Expansion Formation of HR Strategies According to Briscoe et al 2004, very little work has been done on the formation of methods for implementing and controlling the transition from specific administration HR services unto innovative programmes that are directly linked to strategic challenges such as increasing revenue through new market entry or mergers and acquisitions. The formation of the UK MNC’s corporate strategy has to take into account the balance between those activities that need to be centralized or standardized and the degree of flexibility required by the affiliate to operate in the host country Brock 2005. The formation of HR strategies is distinguishable by variance in terms of level of abstraction and scope. The level of abstraction refers to the level at which the HR strategy is focused. According to Combs et al. 2006, there are different levels of abstraction in the design of a global HR system. Levels vary from recommendations, policy, to operational-level procedures. With a policy-level of abstraction, affiliates are given the freedom to implement their own HR strategies within the broad parameters of the standardized policies. However, with an operational level of abstraction, affiliates are expected to implement a more detailed HR management practice. 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