MNG00724 Human Resource Management For Leadership Development
Answer:
HRM initiative
In the modern business environment, the HR professionals play a crucial role. The human resource as a function has never played a significant role in the organizational decision-making process. Do they participate in neither the implementation corporate strategy nor the decision-making initiatives? This is because; the top managers perceive the human resource to be a lower value function that can never be entrusted with the organizational decisions. Anderson (2007) hold that the executives believe that the HR managers have inadequate skills and competencies to undertake essential strategic role. To this effect, Meirc’s HR and training course will upgrade these underestimated professionals so that they can apply the 6-modern human resource strategic competencies to allow them to lead. The course will help the HR to be viewed as a function and a profession so that they can earn a special seat in the organizational decision-making process (Castelli 2016c). Apart from the 6-modern competencies, the HR leadership development program introduced the modern HR management tool including HR analytics so that they can demonstrate how to apply the skills in the HR career.
The HR Leadership Development Program
Meirc Training and Consulting offers HR and training opportunities for individuals with the passion to achieve career progression in their life (Day 2014). The HR Leadership Development Program is course that is HR Certification Institute accredited. The course is worth thirty credit hours. Without a doubt, the institution is a recognized HR training and consulting company (Meirc 2017). According to the Society of HRM, Meirc is a Recertification Provider. The institution thus offers the program that is valid for the 25 SHRM-SCP, the SHRM-CP, or PDCs.
The HR leadership development program targets the HR professionals and managers who are intending to upgrade their managerial competencies thus earn a position in the company’s decision-making table. This course has been tailored to satisfy the needs of the human resource managers and professionals in different functions. Nevertheless, the HR professionals must have worked in the same field for at least five years in the human resource management profession.
Course methodology
The HR Leadership Development Program has been designed to accommodate the interest and expectations of the HR professionals and managers. The designer of the course ensured it was a workshop-oriented so that the participants or trainees can have an opportunity to analyse the company’s internal and external environments strategically. With the ability to conduct the SWOT analysis of the trainee’s function, they find an opportunity to identify the competences and necessary skills that can help them in developing and building their leadership potential and departmental HR management. The course is thus transforms the trainee’s into value adding professionals. This program also capitalizes various interactive techniques including group discussions, lectures, and case studies with the objective of cementing understanding the international HR best practices.
The program focuses on the six modern human resource competencies. Strategic positioner is an expectation required of the HR managers or professional. For an individual to acquire this competency, they must acquire the factors of strategic positioning. Therefore, the HR manager should act as a building block of the organization’s strategic positioning. Through the training, the individual HR manager shall have become a credible activist who can understand the credible and meaning activist. The leadership development program has the potential to make the HR manager a capability builder by letting him understand the factors and meaning of a capability builder. Similarly, the course has thus proved critical in making an individual technology proponent, innovator, integrator, and change champion. The course offered at Meirc is never free, but every participant must pay $4,600 offered at the Kempinski Mall of the Emirates. The institution reserves the right to change the venue, content, dates, and trainers. The fee charged for this course is inclusive of buffer lunch and coffee breakfast daily.
Policies & Discounts
Group and corporate discounts:
Meirc Training & Consulting offers corporate and group discounts on most of its HR training programs. However, this discount is applicable to the self-sponsored programs that must pay for these programs upfront during registration (Meirc 2017). The 2+1 offer is a program or offer for companies that are intending to optimize the return on investment through training. This implies the company registers three participants on a similar course. In such a situation, the company will pay for two course and get one free. Registration terms are also evident on the institution’s brochure. For example, the nomination to any program is the responsibility of the HR/Training department (Meirc 2017). Conversely, an applicant can access the program through self-nomination upon paying for the course in advance through the ‘payment by self’ option. In case of cancellation, the student or trainee is refunded back the money, especially when the fees are not available. Nevertheless, the registration confirmation remains the prerogative of the institution that can review any request and seat availability.
The cancellation terms can be conducted within the first five business days. It is confirmed five days before the commencement of the course. To this effect, the institution is allowed to substitute a new nominee to replace the cancelled registration. Unfortunately, upon cancellation, the institution charges 20 percent of the paid amount as a cancellation fee. The organization has also investment in a continuous improvement (Botchkarev & Andru 2011). Through the feedback and complaints, Meirc allows the people to welcome feedback as explained by White, Hilliard, & Jackson (2011).
Cost-benefit analysis (CBA)
This is a management technique used to compare the cost of training program with benefits through the employment of common metrics with monetary units (Nicol & Coen 2003). The CBA technique enables an individual or organization to calculate the net cost and benefits regarding a training program like the HR leadership development program (David, Ngulube, & Dube 2013). The CBA has proved essential at the beginning of a program, when an individual or organization has an opportunity to use various courses of action. The method that is used to compare and appraise the courses of action is the CBA thus allows an organization to pick the best approach (Castelli 2016a). The technique has also helped to evaluate the impact of this training program in monetised and quantifiable terms.
The cost-benefit analysis has been essential in adding up the overall costs of training and comparing it against the anticipated benefits. Castelli (2016b) explains that the technique assumes the monetary value that is peaceable on the all the benefits and costs of the program such as intangible and tangible returns to the organization and people. Importantly, this method compels people to consider different factors that can influence strategic choice explicitly and systematically (Nicol & Coen 2003). The decisions made based on the cost-benefit analysis are achievable the comparison of the program’s net present value of cost with the net present value of the program’s benefits. Such decisions are made depending on whether the net cost of benefits is evident to this approach. For instance, EU) (2015) argues that where benefits outweigh costs, the decision is worth. Unfortunately, the cost-benefit analysis is irrelevant where the benefits and costs are incurred in the future (David et al. 2013). In this case, the organization or an individual should apply the discounting rates that notably stand at 5-6 percent.
For example, in this case study, the trainee has to use $4,600 that serves as training costs. The anticipated benefits from this program stand at $2,000,000 annually.
Cost-benefit relationship
Currently, the cost per a participant stands at $4,600. By registering for the HR Leadership Development program, the HR trainee will access free coffee breakfast and lunch daily until the program comes to completion. The current cost is favourable as nobody can compare this expense to the anticipated benefits (Pan, Wiersma, and Williams & Fong 2013). The real benefits that will come with the training are the ability of the HR professional to engage in the strategic decision-making programs as other senior managers (Wang et al. 2003). As part of career progression and growth, the HR Leadership Development course will benefit the trainee. Through the training, the HR manager will add value to the management of the organization. The anticipated benefits regarding this program are $2,000,000 annually that will be evident in the improved productivity and performance.
Return on Investment (ROI)
The training program undertaken by an organization on its workforce is an investment whose return should never be underestimated. The return on investment for the organization determines the value for money (Botchkarev & Andru 2011). According to various studies, professional training programs are important to any organization and the individual (Castelli 2016b). Botchkarev and Andru (2011) have maintained that such leadership development programs require sobriety and efforts to benefit stakeholders. Pan and Fong (2010) and Sen (2000) and has confirmed that through the professional trainings, the stakeholders can determine the significance of ROI. Based on this study, the ROI value is:
Costs of training per participant = $4,600
Benefits =$2,000,000
=434.78%
Based on this result, it is evident that the company will benefit significantly from the investment. For instance, for every dollar that the firm invests on training, the company would realize $4.35 in benefit. This is the greatest benefit that the company will acquire upon allowing its employees to undertake the Meirc’s HR Leadership Development program.
Evaluation
The Human Resource leadership development program is a course designed to allow the participants to understand organizational and management environment through strategic and competitive analyses based on the HR functions at the organization (Persky 2001). With the leadership development-training program, an individual will be able to identify the necessary competencies and skills that can help in developing and building the departmental human resource and individual leadership in the long-term. This will thus transform the trainee into a valuable asset to the organization. To ensure that the trainee achieves the individual and organizational goal, the course is designed to allow the participant to utilize an interactive technique of group discussions, case studies, and lectures thus cement the understanding of the best HR practices locally and internationally.
Course Objectives
This unique course is meant to improve the productivity and performance of the HR professionals. At the end of this course or program, the trainee will have the potential to:
- Generate strategic business decisions
- Establish an efficient human resource department that can deliver the business outcomes
- Develop techniques and strategies that will connect the internal processes and systems with the external expectations
- Apply the HR analytical tool to generate organizational intelligence reports and data
- Generate the human resource intelligence to mitigate against the risks related to the human capital investments
- Explain the contemporary human resource competencies and define the human resource professionalisms thus become a value adding manager
- Utilize the relevant tools to appraise and asses the six competencies required for the HR leadership
Targeted Competencies
- Decision-making
- Leadership
- HR analytics
- Analytical thinking
- Communication
- Team building
- Forecasting
Course Outline
HR Analytics
- The five analytical steps
- Managing today for tomorrow
- The HR analytics meaning and important
The HR Competency Model
- HR competency domains:
- Credible activists
- Strategic positioners
- Technology proponent
- Change champion
- Capability builder
- HR integrator and innovator
- The HR competency model evolution
- The modern HR competency mode
- Observations about the approach
Building an efficient HR Department
- Provide an effective HR analytics
- Create human resource business plan
- Align the organizational HR with the organization
The human resource business and external influence
- HR’s six paradoxes
- Incorporate outside expectations into the real business and HR business
- Business strategies and stakeholders
- the business to business
- Meet the six paradoxes
- The HR evolution wave
- Owning own career
- Creating growth opportunities
- Learning about self
- Conducting experiments and projects
- Evaluating strengths and weaknesses
Short-term and long-term outcomes
- The HR leadership-training program would develop the HR official who acquires new position in the company as a short-term outcome. Training will ensure an individual improves his or her earnings or gain promotion.
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In the long-term, the individual shall have acquired skills and knowledge that will enhance career growth and development. As a result, the performance and productivity of both the professional and organization will improve.
Business Case Summary
The human resource development program is one of the business cases that are important and relevant to the current business environment. As evident in this case study, the human resources and training program determines the position and role of HR professionals in an organization. Nobody can be a good leader without attending the much needed skills and knowledge to handle relevant responsibilities. Through the HR training and development program, the HR professional would acquire important skills that will help the officer manage the human resources in the company (Rees 2015). In fact, the available case studies or successful corporations have invested massively in the HR department. For instance, companies that value their human resources or employees must value the HR department (Said, Pemberton & Ahmad 2013). To this effect, it is critical to equip the HR officers with relevant skills to motivate and make strategic decisions that can never demoralize the workforce.
This Business Case has indicated that the costs associated with such training programs are an unimaginably high. For the institution to sponsor and organize such training programs, it must have enough financial resources (Kirchner & Akdere 2014). For instance, each participant would part with $4,600, buffet lunch and coffee breaks inclusive. Nevertheless, this cost is insignificance for a company that intends to maximize the productivity or ROI in training. Therefore, the HRM initiative is a positive move to improve the organization and an individual’s performance in the long-term.
Critical Reflective Analysis
Understanding business case is an interesting learning experience that any HR professional or an individual in the managerial position should take seriously. Importantly, I must reiterate leadership-training program is critical in improving an individual’s productivity as demonstrated by Monarth (2015). However, training program is expensive because it request exemplary resource allocation. With the current market becoming competitive, businesses are opting to sponsor their workforce to upgrade their skills and knowledge (Atwell 2006). This is because; the current business environment has demanded for quality and skilfully workers who can deliver to the expectations of the market. The market environment today has also proved dynamic and companies must always change to retain their position. The training programs are part of the strategies the companies use to attract the top talents.
Therefore, the Business Case is a demonstration of an organization’s motive and goal to develop and embrace the employee career growth. Since nobody would wish to stagnate in their jobs, the aspects of progression and promotions are never granted without merits. To this effect, the employees opt for new and unique training programs that prepare them for the new roles. I believe that leadership role requires an individual to be efficient is service delivery. This makes this business case relevant in meeting the vision and goal of every leader to pursue unique training programs to avoid missing out in the organization ranks.
Bibliography
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