Lesson-2-Planning for HRM in technology.pptx

HRM for technology

1. Management Functions INDT 26 – Human Resource Management for Technology

2. What is Planning? PLANNING

3. Five Key Management Functions Planning The process of setting goals, and determining the appropriate action to achieve the goals of the company. 01 Organizing The process of allocating and arranging both human and other resources through a formal structure of tasks and authority so that plans can be carried out successfully. 02 Staffing The process of recruiting, selecting and developing the right people for the right jobs to achieve the objectives of the organization. 03

4. Five Key Management Functions Directing (Leading) The process of guiding and motivating employees to accomplish company’s goals. 04 Controlling The process of regulating company’s activities so that actual performance conforms to the goals and standards set at the planning stage. 05

5. REASONS FOR PLANNING To coordinate human resource To reduce uncertainty in operation To reduce overlapping and wasteful activities

6. PLANNING? Planning involves setting goals of the company and establishing a plan or strategy to achieve these goals.

7. How to set goals? Be SMART!

8. SMART Goals are: Specific – goals are clearly defined and focused. Measurable – outcome of the goal can be measured. Achievable – goals should be realistic and are able to accomplish. Relevant – goals are relevant to the business operation. Time-bound – a specific period of time must be set for achieving the goal. The use of SMART goal setting can help managers save time and resources by making the planning process more efficient and effective.

9. SMART Goals Specific: To set a specific goal, there are some questions to ask. Who is involved? What to accomplish? When to start/end? Where to start? Example: setting the goal as “to achieve P3 million sales for product A in the next year” is more meaningful than “to get more business”. Measurable: establish concrete criteria for measuring outcomes. The criteria should be quantifiable so that the outcome can be easily measured. Examples: to achieve P1 million net profit in the next year or to obtain 20% market share in the industry.

10. SMART Goals Achievable: it is important to ensure the goals are realistic and be attainable with consideration of the abilities and financial capacity of the company. Example: it is not appropriate for a small company to set a goal of earning billions dollars in one year. Relevant: the goals should be set for business operation and based on current economic climate. Example: a business can set a goal of increasing 20% in sales for its product A in the next year which is relevant to the goal of obtaining 20% market share in the industry. Time-bound: a goal should be bound within a time frame. Example: it is not appropriate to set a goal of $30 million sales without time limit or it will never be achieved as there is no sense of urgency.

11. PLANNING PROCESS

12. PLANNING PROCESS Once managers understand the goals of the company, they can take steps to implement the planning process in their company. Implementation of planning process is important because if the planning cannot be transformed into action, it will not be able to generate benefits to the company.

13. 1 2 3 Setting company goals Listing alternative ways of achieving the goals Selecting best way to achieve the goals Planning Process

14. 5 Developing plans to pursue chosen alternative Putting plans into action Planning Process 4

15. Planning process Setting company goals – Decide the SMART goal to achieve. Listing alternative ways of achieving the goals – list as many available alternatives as possible for achieving those goals. Selecting best way to achieve the goals with consideration of resources available – an evaluation of alternatives is conducted and the best alternative is selected. Developing plans to pursue chosen alternative – develop strategic (long-term) and tactical (short-term) plans for achieving for the selected goal. Putting plans into action – take actions to work out the plans.

16. “The capacity to learn is a gift; the ability to learn is a skill; the willingness to learn is a choice.”