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Example research essay topic: Taking Into Consideration Hr Strategy - 2,751 words

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Target Corporation and Employee Benefits Executive Summary Peculiarities of development and enhancement of HR strategy for insurance company is the issue of the day. According to number of researches the major part of insurance companies implement agential model of HR strategy. Insurance and realtor companies definitely fall under the focus of these researches. The aim of this research is to examine peculiarities of implementing successful HR strategy for insurance company, to dwell on specifics of activity of insurance enterprise taking into consideration near-term outlook of market development. The research will be conducted by the example of insurance company in order to demonstrate the work of HR department, to find out strong and weak points in HR strategy and to give recommendations.

We also define the main requirements for the HR system that will satisfy qualifying standards, examine the process of creation and development of the HR system and determine the main stages of implementing successful HR system for Scottsdale Insurance Company. Description of Organization and Business Strategy Scottsdale Insurance Company is a wholly owned subsidiary of Nationwide. According to description from their Website, the company benefits from the backing of one of the largest insurance and financial service providers in the United States, an A. M. Best Rating of A+XV (superior) and a Standard & Poor's "A" rating (Scottsdale Insurance Company Website n. p. ).

The top values of the company are as follows: Core Values: Trust, respect, passion and courage; Performance Values: Bias for Action-Passion for results, accountability, coaching and feedback, working as one team, and having fun. The companys executive team consists of Michael D. Miller, President and Chief Operating Officer, Gary L. Tiepelman, Sr. Vice President of Underwriting, Michael Horseman, Sr.

Vice President of Claims, Asia Martin, Vice President of Human Resources, Doreen K. Refine, Vice President of Operations, Joe Griffith, Vice President and Chief Information Officer, to mention a few. So, lets dwell now on the companys HR strategy. First of all we need to answer the question related to conditions Scottsdale Insurance Company works in. Scottsdale Insurance Company implements agential model of work with personnel. The main theses are as follows: Competition for resources at the labor market is constantly increasing.

The decrease in tendency of growth is not expected; Correlation professionalism / repayment terms will gradually decrease; Potential candidates, basically, are represented by low-qualified professionals (Situation will not be a subject to changes); The majority of large-scale insurance enterprises will face problem of marginalization of their low-qualified professionals and agents departments; The share of workers employed by several companies simultaneously will increase inevitably (incl. direct competitors); Basic requirements of potential candidates for conditions of work will increase. Work for perspective will attract fewer quantity of candidates; The requirements of potential candidates and workers of insurance company concerning legitimacy of their relations with employer will increase. The requirements concerning social packages and compensations will also increase.

At the same time the absolute majority of insurance companies proceeds from the assumption the competency, productiveness and loyalty of their workers will play dominant and decisive role in development of their business. So, lets examine the main requirements to HR system presented by the management of Scottsdale Insurance Company. The Main Requirements to HR System There are several specific requirements presented by Scottsdale Insurance Company. Lets examine the most important factors: 1.

Continuous (permanent) process of recruitment of the agents. The recruitment takes place in conditions of decrease of attractiveness of the vacancies for the candidates and constant upgrowth of costs for labor power industrial intake and attracting potential candidates. 2. Demand for immediate commercial effect. New worker should start to make a profit for Scottsdale Insurance Company within 1 - 2 moths from the beginning of his work. Therefore, the requirements for system of adaptation of personnel are the subject to increase: initial education, tutorship, admission to work. 3. Calculation of all expenditures for personnel Scottsdale Insurance Company works in conditions of high competitiveness.

Therefore, it has to take into account all expenditures for personnel: direct remuneration, compensation costs (i. e. tickets, travel documents, mobile communication costs, etc), education and training costs, employment costs, etc. 4. Consolidated service standard. As far as Scottsdale Insurance Company has number of branch establishments, it needs to support consolidated standard of services rendered. The company has constantly to deal with tendencies of the management of branch establishments to create its own feudal homeland. 5.

Close-cut separation of personnel by categories. The HR procedures of Scottsdale Insurance Company (such as employment, education, adaptation, etc) vary considerably depending on the category of personnel. For example, the recruitment of agents and recruitment of insurance professionals should be separated. 6. Legal Risks According to the managers of Scottsdale Insurance Company, the company is exposed to high legal risks due to potentially unreliable and offended employees. Security also plays an important role. 7.

Quick adaptation to changes. Scottsdale Insurance Company should have possibility to adapt to changes due to new regulations, new products and new services. As used here, it means that the company implements strategy of quick and mass retraining of commercial personnel. 8. Client protection The company has to protect its clients from their own personnel, in addition to usage of CRM and other methods.

The company has to grant just remuneration and growth for their qualified workers. 9. Transparent processes. The company should have complete internal transparency of HR strategy. This measure is used by Scottsdale Insurance Company in order to be a certain kind of remedy from malus age and misapplication of funds.

Besides, transparent processes are used by the company as necessary instrument of management and growth. In such a way, these are the main points of HR strategy implemented by Scottsdale Insurance Company. Lets analyze them and give certain recommendations taking into consideration specifics of the insurance labor market. The answer is evident: although the companys HR strategy is quite successful, it definitely requires implementation of more adequate HR system that will satisfy all requirements. Such strategy should take into account specifics of the insurance market and tendencies of its development. Besides, successfully improved HR system should be completely documented in correspondence with the TQM requirements.

In this certain case the documentation should be done rather for achievement of required showing, activities, economic indexes and controllability. HR strategy should be flexible (Flynn 34). It means that it should be changes easily in correspondence with the situation at the market of labor and services. Finally, such system should be more simplified and, therefore, less expensive during development and implementation of HR processes. Lets dwell on the process of development and implementation of recommended HR system for the examined insurance company. Well proceed from the assumption that the company doesnt have any sound HR system.

Such assumption is done to simplify the Recommendation part. Actually, the situation is not far from truth, as the company implements no planned work with personnel, corporate regulations that determine complex of measures for work with the personnel are lacking. Lets draw attention to the way we understand the effective HR system. It implies combination of implemented regulations (rules, regulations, statuses, conditions, instructions, etc) that define basic or key-factor HR processes (Gubman 27).

Although the management of Scottsdale Insurance Company claims that they do undertake HR measures without proper documentation, and, moreover, consider that it is impossible to include their HR experience into the documented agenda, such HR approach is ineffective. Proper documentation is the must for successful HR strategy. Our basic recommendations will derive from several stages. Lets examine them in a logical order: Stage 1 Scottsdale Insurance Company will need to re-develop regulations of the upper level.

These regulations will determine general requirements for the HR system. The basics of HR system, the relations between the company and employees should be examined as well. The HR Policy and Personnel Statute are also related to this type of HR regulations. The HR Policy is a code of laws or a certain kind of constitution of the company. The relations between the company and personnel are declared there. After proper HR Policy is developed, the managers will develop a Personnel Statute.

In order to complete the task, they will need: - To identify the basic (the most urgent) HR problems and processes; - To define the main categories of personnel; - To make sure that employees receive proper information related to HR; - To define privileges and responsibilities of the officials concerning manpower policy; - To determine procedures and regulations concerning documentation of manpower and structure decisions; - To determine procedures for conditions of work; - To solve problems of labor relations; - To determine requirements for personnel documents circulation; All these tasks and questions should be determined in correspondence with the regulation with conditional name Personnel Statute. In such a way, HR Policy and Personnel Statute will contain all requirements that should be necessarily taken into account during regulation of separate HR processes. Generally, creation of transparent and clearly defined system of management of remunerations and compensations is one of the most urgent problems for any company. Scottsdale Insurance Company is no exception to this rule. In such a way, among other recommendations we define the following: - To determine the main principles of the system of remunerations and compensations; - To develop the regulation for establishment and change of official salary rate; - To determine the regulation for redundancy pays and other rises (in wages) for employees official salary; - To determine just and proper method of bonus accounting according to the results of work; - To determine the education rule at cost of the company; - To re-examine the social package (vacations, sick-lists, insurance, etc); - To define additional compensations (remuneration for work during holidays and days-off, remuneration for overtime, mobile connection expenses, compensation for representative and travel allowance, other kinds of compensation, etc); All tasks should be determined in accordance with regulation with conditional name Regulation for Remunerations and Compensations. The first stage will be accomplished after completing and implementing all recommendations into the companys practice.

When the first stage is accomplished, the following corporate standards are received: Stage 2 The second stage will include regulation of HR processes. After the tasks of Stage 1 are solved, we recommend concretizing HR processes in relation to primarily defined categories of the personnel. According to the results of the Scottsdale Insurance Company, we can define five general categories of the personnel: 1. Management (i. e. director of marketing, deputy director of economy, manager of HR department, etc); 2.

Managers of commercial personnel (i. e. manager of sales department); 3. Professionals of commercial personnel (i. e. manager of contract maintainability department, advertising, etc); 4.

Administrative staff (drivers, office managers, administrators, secretaries, etc); 5. Agents. Among our other recommendations, the elaboration of HR processes is highly recommended to implement in the course of life cycle of the employees. It means, the company should start from employees recruitment and consequently determine the program for adaptation, education, remuneration, etc.

Therefore, the company has to regulate process of recruitment for the agents, as far as agents form the base of the companys personnel and the recruitment process is the beginning of employees life cycle. The recruitment process for agent can considerably differ from the recruitment process for professionals belonging to other categories. Therefore, it definitely requires a separate regulation. Although the Scottsdale Insurance Company tried to solve all recruitment processes by issuing one standardized document, such approach is completely ineffective due to the number of various reasons. However, the recruitment process for other categories of personnel can be determined by a general regulation. The next recommended step should be to document and to regulate the process of adaptation of agents.

Adaptation process is the most important process for this category of employees. In contrast to agents, adaptation process for other categories of workers is less significant; therefore, no special regulation is necessary. However, we have to remind that we express our personal opinion based on experience and supposition of minimization of time and financial expenditure during the course of creation of effective HR system for Scottsdale Insurance Company). The next process that should be described and regulated (in correspondence with the employees life-cycle) is the process of education and retraining of commercial personnel. Regulations concerning training of the managers of commercial personnel, professionals of commercial personnel and agents should be created. Finally, we need to regulate the process of personnel rating.

As far as Scottsdale Insurance Company uses agential HR model, we recommend regulating two processes: the process of agents rating and process of other personnel's rating and evaluation. As far as Scottsdale Insurance Company already has rules of internal Labor Code (HR managers of Scottsdale Insurance Company use standard rules and regulations) we recommend revising them in accordance with the requirements listed above. Generally, such document should include the following: - Operating schedules for all categories of personnel; - Scopes of tolerance for all categories of personnel; - Duration and permissibility of annual and short-term vacations; - Questions related to compensatory leaves and compensations for overtime; - Remuneration and clause regulating quantity of days due to various diseases (with or without sick-list); - Regulation concerning operating time calculation register; Hereon the second stage is considered to be accomplished as far as the most urgent HR processes are identified, documented and regulated. The third stage will regulate processes of remuneration and compensations.

Stage 3 Among our recommendations there was a proposal to create general statute concerning remunerations and compensations. As far as personnel categories are presented by sampling of office appointment that significantly differ by corporate objectives, the system of remuneration should be also different for each category. We use the term remuneration within the framework of this article; however, we also can use stimulation (as motivation) of employees (although it is not absolutely correct from the point of traditional terminology (Nelson 258). We do not dwell on details of the problem of as far as approach to remuneration and compensations can vary both because of belonging to a certain category of personnel and because of preferences of the companys owners (Boyle 24). However, together with other recommendations, we suggest to frame specialized reference book for agents career growth.

Such reference book can contain a range of conditions necessary for advancement, references to important information, professional sources, to mention a few. Specialized reference book will be conductive to increase the loyalty level, the level of motivation, and, will definitely decrease the level of churn rate during the first 6 months of the work. Conclusion Will our recommendation produce a necessary effect? In result of implemented recommendations we receive a set of corporate regulations that include HR Policy, Personnel Statute, Regulation for Remunerations and Compensations, 10 - 12 instructions regulating HR processes and specialized reference book under conditional name Career Climber.

According to our opinion, these documents present a necessary and sufficient minimum for creation of the effective complex HR system for Scottsdale Insurance Company. Such set of corporate regulations is organized hierarchically; it is simple in use and is able to provide with solutions for practically all HR problems. According to these recommended changes, all corresponding categories of employees have access to necessary information. The recommended set of documents is not final and requires cyclic and recurrent modifications in relation to changes in market, legislation, development of the company, etc. Implementation of our proposed system of corporate standards can result in follows: - The set of recommendations will allow economizing approx. 20 - 40 % of wage fund; - The set of recommendations will allow Scottsdale Insurance Company decreasing utmost 50 % of irreplaceable losses related to activity of the personnel due to regulation of all basic HR processes; - The set of recommendations will considerably decrease reputation risks of the company. Finally, the issue of the day related to automated HR system is impossible without preliminary identification, account and regulation of HR business processes.

The company can proceed to automation of HR system after implementing our recommendation into practice. References: Boyle, D. (July 1996). Divining the secrets of a successful employee recognition system. Security Management, vol. 40: 7 Flynn, G. (July 1998).

Focus and flexibility: Prudential's rewards and recognition program in action. Workforce, 77: 7 Gubman, E. (2004). HR Strategy and Planning: From Birth to Business Results. Human Resource Planning, Vol. 27 Nelson, B. (1993). One Thousand One Ways to Reward Employees. NY: Workman Publishing Company, Inc.

Scottsdale Insurance Company Website. Vision, History and Values. Retrieved October 19, 2006. web


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Research essay sample on Taking Into Consideration Hr Strategy

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