My HR Plan Assignment Example | Topics and Well Written Essays - 2250 words

My HR Plan - Assignment Example The compensation package of the company is fit to motivate the employees. The training program of the company is appropriate for training the new employees. The new employees of the company will be provided training so that they can understand the job requirements correct and act accordingly. Table of Contents Overview 4 Recruitment and Selection 8 Compensation and Benefits 9 Performance Management 10 Training Program 10 Ways of Training 11 12 Overview An HR plan is a systematic process of matching the interest of the employees with their talents and skills so that the long term goals of the organization can be met. An HR plan is critical for setting up a strategic plan of an organization as it will help to determine whether the organization will be able to achieve the goals in the future. This HR plan is a comprehensive plan which would help the organization to achieve its goals. The leadership of an organization must be able to successfully guide the employees in achieving the goal s. The HR manager must prepare an appropriate plan which would help the organization to achieve its goal (Asdorian, 1992). Therefore before setting up the HR plan the company needs to decide on type of plan it wants. There are three different types of plan, company level plan, developmental level plan and job level plan. The plan can be on national level, sartorial level and industrial level. These plans deal with the responsibilities of the human resource department in the respect of manpower planning are:- a) Assist the operating mangers to set objectives so that they can direct the employees properly. b) Collect the manpower data and then summarize it for preparation of a long term HR plan. c) Monitor the performance of the employees and see whether it is according to the HR plan. d) Provide research information for effective manpower planning. The basic objective of an HR manager is to ensure that the employees are able to maintain their lifestyles. The elements that should be k ept in mind while preparing the HR policy must include appropriate monetary allowance, housing allowance, education costs of the dependent and transportation allowance. Now in the context of the company Skypack Ltd which is an audio set manufacturing company based in USA has been chosen. The company is presently headquartered at New York. The company was established in the year 2000 by J. K. Packman. The company is indulged in the manufacturing and marketing of audio devices. However there are a many variants for the product. It mainly offers 4 categories 2.1 channels, 4.1 channel, 5.1 channel and large boxes of 10000 watt sound systems. Presently the company operates only within the US market and owns 35 exclusive retail outlets. However the company also proposes to expand into the international arena. The major competitors of the company are Altec lancing, Boss, Creative, Alesis, JBL and other local palyers. Within 10 years of its incorporation the company has been able to achieve a respectable position in the market. Currently the company holds 22% of the market share in context with audio devices. The company has also developed a core competency for itself in the form of wireless devices. All the audio sets of the company are wireless. Also the qualities of the products are according to the international standards. The reason behind such innovations is to remain with the current trends. In the context of work culture, the company has a