Discuss about the Principle for Business Practice.
Human resource management (HRM) is an essential element of all business organization. Human resource management is a process within the organization that focuses on the recruitment and management of human resources. The HRM management in the company works to provide necessary tool, support and training for smooth operation of business (Oke, 2016). The role of HRM managers is to recruit people, train them, and encourage effective communication, performance appraisal and promoting workplace safety. This business report gives a review of one public sector Company called SingTel and analyzes the human resource management relevant to its area of business. It will provide explanation about two elements of HRM in the company. Finally it will evaluate the strength and weakness of Company’s approach towards selected elements of HRM.
The SingTel is a major public sector company which is owned by investment company Temasek Holdings. This company is also listed in the Singapore Stock Exchange. It is a major telecommunication company of Singapore and largest provider of mobile network. Currently it has about 600 million consumers both in Singapore and different parts of the world. It provides ISP service (Internet Provider Service), fixed telephone line service, mobile networks and IPTV (Internet Protocol Television) service. It has also expanded its share in other countries such as Telco Optus in Australia. Temasek Holdings is a major investor in its business and it is also regarded as the largest company in terms of market capitalization (Company Profile – Singtel, 2016).
The Singtel Group emphasize the fact their consumers and suppliers plays a key role in the improvement of social and environmental performance. In order to promote a transparent and ethical environment, they ensure that their labour workers adhere to minimum set standard for code of conduct for labour (Stredwick, 2013). Singtel values the contribution of their employees and maintain a collaborative culture to provide equal opportunities and growth for all. The challenges and opportunities at work in Singtel help employees to develop professionally in the field. Responsible HRM is a process that enables most effective use of human resource to achieve both personal and organizational objectives. An HRM manager at SingTel has the responsibility to plan human resource, develop and maintain a qualified workforce. The Singtel Code of Conduct describes how they manage the multicultural environment with different groups of people. This principle is applied both internally and externally in their business operations. Their focus is on a vibrant and inclusive workforce where each employee engages to improve the globalized market and provide ideas for innovation (Chen, 2014). Their approach for human resource management and inclusion strategy includes the following:
Respecting varying skills of employees- They recognize that all employees are valuable and will provide long-term opportunities for the success of the company. They support each employee to promote an inclusive workplace and allow opportunity for employee development.
Managing multigenerational workforce- To transform Singtel into a dynamic and innovative organization, they synergistically tap different views of multigenerational workforce and add their values in the successful operation of business.
Multicultural awareness- To create a strong position in a globalized marketplace, they cherish the global workforce to make strong connection with diverse range of customers and suppliers from different regions of the world.
Supporting a balanced workforce- The managers at Singtel aim is to maintain a balanced workforce by providing equal opportunities and equitable remuneration structure without any bias. They also have health, safety and environment policy in place to provide a safe work environment to all employees (Ulrich, 2013).
The strength of responsible HRM at Singtel lies in their policy for safety and welfare of employees. This is evident from the fact that they have taken action for resource conservation and pollution prevention. Every employee is also responsible to commit to this safety policy. To make this commitment possible, they have clearly stated that this will be possible by adopting the following practices in their workforce-
Singtel has strong competition from other telecom companies like Telstra, StarHub and many others. The weakness is seen due to strong competition present in the market and the need to continuously change HRM strategies. Hence managing human resource in face of increasing competition becomes challenging for Singtel. More variation is required for effective interaction of HR strategies. They face threats from new technological advancement which has the ability to bypass local telecommunication signal for making overseas call (Fleming, 2012). This can take away Singtel’s major source of income. A talented and multi generational staff may help in solving this kind of issues in the organization if they are professionally committed to the organization.
Another important element of HRM is the approach that companies take for social responsibility. This approach promotes economic, social and environmental benefits for all stakeholders involved in the company (Sharma, 2013). The main goal of SingTel is to become the best global company for telecommunication in the world. Through their operation in Singapore and Australia, they provide a variety of service across different platforms (Huat, 2015). According to the Singtel’s sustainability report for environmental, social and economic progress, they have worked –
The Singtel’s approach to social responsibility has its strength and weakness too. The strength can be seen from different reports in different sectors. For example, they have promoted economic responsibility by reducing customers operating cost by 70%. For their pledge for maintaining safe and healthy environment at workplace, they worked to create understanding with fair employment practices and involving multigenerational workers. They have played a role in environmental safety by saving electricity. Their target was to save electricity by 6.54 GWh, but they have managed to achieve 9.35 GWh by their commitment. They have also worked for the community by raising donations for children through the ‘Singtel Touching Lives Fund’. The staff at Singtel has come forward to assist victims of natural disaster. For example, when there was flood in Australia, the Singtel’s staff got involved in relief efforts and making appeals for donation (Cheng et al., 2014). Strength of their approach is the fraud prevention programme through which they conducted briefing sessions to make employees aware of their annual declaration for conflict of interest and compliance with code of conduct. They also have accessible channel to identify fraud, corruption and dishonest practice at Singtel premise. The weakness seen in the approach to social responsibility is that the Singtel’s touching lives programme raised many ethical issues due to the manner in which commercialization of products was done (Patrick Sim, 2015).
Conclusion
From the brief report on approach taken by Sintel, the leading telecommunication company of Singapore to tackle human resource management issues, it can be concluded that employees are the backbone of the organization and looking into their issues is essential for the progress of business. It discussed two elements of HRM-responsible HRM and approach to social responsibility that Singtel had taken to address human resource issues in the organization. They have recognized the fact that the staffs play a key role in the development of the company and so they took different initiative to provide support for the welfare of the human resource. The analysis of strength and weakness in the system gave an idea about what the company has managed to achieved and where they have failed. Good working condition promotes employee retention and engagement in job.
Reference
Ang, P. H. (2014). cation and Information and director of the Singapore Internet Research Centre at Nanyang Technological University in Singapore. His research is in the areas of Internet governance and media law and policy. In 2004, he was appointed by the UN secretary general to the Working Group on. Policy and Marketing Strategies for Digital Media, 19, 297.
Chen, C. C. (2014). Corporate governance of state-owned enterprises: an empirical survey of the model of Temasek Holdings in Singapore. Singapore Management University School of Law Research Paper, (6), 1-29.
Cheng, B., Ioannou, I., & Serafeim, G. (2014). Corporate social responsibility and access to finance. Strategic Management Journal, 35(1), 1-23.
Company Profile – Singtel. (2016). Www1.singtel.com. Retrieved 20 September 2016, from https://www1.singtel.com/about-us/company-profile.html
Fleming, P. (2012). The end of corporate social responsibility: Crisis and critique. Sage.
Huat, C. B. (2015). State-owned enterprises, state capitalism and social distribution in Singapore. The Pacific Review, 1-23.
Oke, L. (2016). Human Resources Management. International Journal of Humanities and Cultural Studies (IJHCS)​ ISSN 2356-5926, 1(4), 376-387.
Pang, A., Mak, A. K. Y., & Lee, J. M. (2015). Communicating Corporate Social Responsibility in Singapore: Toward More Effective Media Relations. In Role of Language and Corporate Communication in Greater China (pp. 127-148). Springer Berlin Heidelberg.
Patrick Sim, M. M. (2015). A Review of Corporate Social Responsibility: SingTel Touches Lives. J Account Mark, 4(137), 2.
Sharma, B. (2013). Contextualising CSR in Asia: Corporate social responsibility in Asian economies.
Stredwick, J. (2013). An introduction to human resource management. Routledge.
Ulrich, D. (2013). Human resource champions: The next agenda for adding value and delivering results. Harvard Business Press.
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