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Bachelor of Arts

Extracts from this document...

Introduction

BACHELOR OF ARTS ~ Business ~ HUMAN RESOPURCE MANAGEMENT & INDUSTRIAL RELATIONS MODULE BA361 Human Resource Management ASSIGNMENT TOPIC Evaluate the relevance of the Stakeholder Value Relationship Model in any organization of your choice 1. BUSINESS AND STRATEGIC INITIATIVES 1.1 FedEx Corporation Overview FedEx Corporation provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenue of US$ 27 billion, the company offers integrated business application through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 250,000 employees and contractors to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. 1.2 Strategic Initiatives Currently, with its exposure to volatile fuel prices, high capital expenditures, and thin margins, FedEx can not stand up to the rigorous rule maker quantitative criteria, but its brand power is a perfect example of a sustainable competitive advantage. FedEx ships over 3 million packages a day. Along the route, those packages, the planes that carry them, the trucks that deliver them, and the people that handle them leave impressions on customers. FedEx recognizes that with every box it delivers and every person that delivers it, a brand impression is made. Brand equity is certainly significant to FedEx since its products and services are less differentiated in this fast changing dynamic competitive market. ...read more.

Middle

For hourly paid staff the pay is geared to individual performance. However, to encourage good team working, there is also a team based 'Best Practice Pays' element. The pay for performance of salaried staff is based upon measures relating to the company's key philosophy. 3.3 Performance Reviews FedEx is a very performance-based company. Every person knows upfront what his performance objectives are and he also knows upfront what he can earn. So the crux of People Service People is a fairly laborious performance management and compensation system. If a person fails in his performance, then the person does not get disciplined, but he gets pulled into a constructive action plan. Employees are encouraged to identify their weaknesses through a personal development programme (PDP). These could be general things like communication skills or dealing with conflicts in the workplace. FedEx has an online training library with 600 courses on things like leadership, project management skills, even something as basic as presentation skills. Employees can log in and take any course, but need to pass. 3.4 Staff Survey The annual staff survey is considered to be one of FedEx's biggest business improvement tools. A total of 32 questions are answered electronically in business time over a period of two weeks and participation has increased from 97% to 98%. 4. PRODUCTIVITY, CREATIVITY & DISCRETIONARY EFFORT By competing collectively under the FedEx banner, FedEx in service companies benefit from one of the world's most documented brands. FedEx is one of the most trusted and a respected brand in the world and its brand name is a powerful sales and marketing tool. ...read more.

Conclusion

FedEx shareholder market value has increased continuously as shown clearly in its financial statements. However, company's HR market value has never been officially computed and shown in the financial statements. Based on the company productivity, FedEx's each employee generates revenue of approximately US$108,000 quarterly, which is much higher than the world largest package delivery company - UPS, whose per employee generates revenue of only about US$81,081 quarterly. 8. CONCLUSION For FedEx, timing is everything. Delivery on time is essential, and within FedEx, ensuring this performance every time, has meant the transition to systems that provide online, real-time connectivity, bringing improved business processes and increased productivity. With unrivalled logistics solutions, FedEx turned to its Human Resources function, to leverage its competitive advantage. In such a geographically diverse and disparate region, FedEx strives to manage its human capital by minimizing administrative burden and creating a culture of effective self-management. With employees spread across the Region, and in line with its organization's move to an Internet-centric company, FedEx was continuously looking for ways to empower its employees, and allow them to take control of some of their HR functions. Leveraging on PeopleSoft HRMS solution to effectively manage their human capital, it provided FedEx with the scalability and functionality they needed, to enable FedEx to move towards becoming a Real-Time Enterprise. FedEx employees were fully utilizing their self-service functions, and their HR staffs are now free to deliver a more strategic output to the business. They have increased the visibility of HR information to more effectively manage the enterprise's most valuable resource - human capital. ...read more.

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