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    HRM - Group 11 PDF

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    Aakash P 23
    HR is important for startups to manage employees effectively through the various stages of growth. While startups initially invest less in HR due to costs, formal HR processes become necessary as the company expands. Effective HR management in startups includes developing competency models, defining organizational culture and structure, performing workforce analysis, and creating training and performance evaluation programs. This helps boost the growth of startups by hiring and retaining the right employees.

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    HRM - Group 11 PDF

    Uploaded by

    Aakash P 23
    61 views10 pages
    HR is important for startups to manage employees effectively through the various stages of growth. While startups initially invest less in HR due to costs, formal HR processes become necessary as the company expands. Effective HR management in startups includes developing competency models, defining organizational culture and structure, performing workforce analysis, and creating training and performance evaluation programs. This helps boost the growth of startups by hiring and retaining the right employees.

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    HR is important for startups to manage employees effectively through the various stages of growth. While startups initially invest less in HR due to costs, formal HR processes become necessary as the company expands. Effective HR management in startups includes developing competency models, defining organizational culture and structure, performing workforce analysis, and creating training and performance evaluation programs. This helps boost the growth of startups by hiring and retaining the right employees.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    61 views10 pages

    HRM - Group 11 PDF

    Uploaded by

    Aakash P 23
    HR is important for startups to manage employees effectively through the various stages of growth. While startups initially invest less in HR due to costs, formal HR processes become necessary as the company expands. Effective HR management in startups includes developing competency models, defining organizational culture and structure, performing workforce analysis, and creating training and performance evaluation programs. This helps boost the growth of startups by hiring and retaining the right employees.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 10

    Introduction: Importance of HR in Startups

    Human Resources (HR) is a term used to describe the management and development of employees in an organization. HR encompasses
    recruitment, onboarding, payroll management, training, development, benefits and holiday management, employee law compliance.
    Due to increased market competitiveness, startups invest lesser money in HR for cost cutting. Many entrepreneurs get off to a flourishing
    start but struggle to manage people as CEOs and VPs are not trained recruiters having a little idea of recruitment process and are focused
    mostly on increasing profits, they may not recruit all the right people in a team as they can be biased

    Fair Compensation Effective Hiring Process


    TIn absence of HR professionals, pay increase decisions It is critical to hire the right people and unstructured job
    are fraught and may be biased, boiling down to how the interviews may lead to bias. HR professionals help in
    manager thinks about the employee or the post. making the process fair and structured.

    Management Training Recognize the need for policies


    Startups are full of ‘generalists’ i.e employees who wear As the number of employees grow, the organization may
    many hats leading to employees without any formal face new issues, which can be tackled by HR executives
    management experience holding important managerial forming new policies.
    positions, which affects the quality of managers.

    Legal & Regulatory Compliance Career Path Cultivation


    HR professionals have a thorough understanding of labour When a company exceeds 30 employees, figuring out how
    laws and regulatory laws. It is effective in protecting the to develop the employees is critical to prevent employee
    business from lawsuits. turnover.
    Literature Review

    HR issues in Indian Startups High Performance Work Retention of employees in


    Start-ups: their approach to Systems startups
    Soni Agrawal (2018)
    HR planning Josh Bendickson (2017) Fairouz Hussein (2017)
    Positive ecosphere for startups.
    Raphaelle Pachut (2016) HR not viewed as value-add Supervisory support
    HR issues in startups are
    Primary data on 6 startups. component Organizational support
    manageable.
    CEOs focus on early value creation. Human capital is essential to Career opportunities
    Importance of HR in employee
    startups. Development opportunities
    HR comes last, situation changes if engagement, equitable treatment
    there is enough funding. HPWS enhances human capital Training & Mentoring | Job
    potential characteristics
    How can effective hr management boost growth of startup:

    Develop a Competency Model Define Organizational Dimensions Perform Workforce Analysis

    - Hire the right people for the - The prevailing culture has a - A workforce analysis is
    right jobs based on skills, crucial impact on the HR considered to be a crucial part of
    expertise, and education strategies developed. the human resource strategy.
    - Developing clear job - Key factors that impact the - helps to analyze the current
    descriptions, initiating job strategy are the nature of situation of the company and
    competency models for every business, the chain of determine the position of the
    department in the organization, command, and the organization in the future
    - Benchmarking roles against organization structure, along - identifying the gaps in critical
    similar jobs in the industry with human resources systems, areas
    policies, and practices.
    Develop Training Programs &
    Evaluate Implemented Strategy Maintain Employee Performance Management
    Relationships Methods
    - Making sure that the employees
    - Evaluated based on the accurate
    - Established policies in place to are growing and to develop their
    and measurable factors
    handle employee complaints. skills and providing them with
    - Doing the evaluation provides
    - Organizations 's code of appropriate feedback for
    the HR team with accurate facts
    conduct, formulating a policy to improvement.
    and figures on various
    address concerns, and setting a - Tracking personnel records and
    parameters concerning
    system for gathering employee establishing an effective
    employees and customers.
    feedback. performance evaluation process.
    - Evaluating the effectiveness and
    - an individualized approach to - Ensure that the employees are
    performance of the HR strategy
    employee engagement to adequately trained
    maintain relationships.
    Apart from the above-mentioned HR
    practices, a Startup should look forward to
    establish the following methods:

    • Create an company culture.


    • Determine core values.
    • Developing and retaining top talent.
    • Simplify the processes.
    Create an Action Plan Internal Analytics
    • Match expertise with culture.
    • Stay consistent.
    - A detailed action plan to - Using data analysis, it is possible
    implement the critical points for to use leading and lagging KPIs • Create leaders.
    to figure out the startup's • Count the total cost.
    getting management approval.
    performance. • Create a culture of learning.
    - Management should then classify
    projects by priority level and help - set the correct KPIs and data • Focus your energy on your people.
    HR create a project timeline for tracking mechanisms then • Create a culture of clarity.
    implementing each measure. analyze the data to figure out
    - Setting up the business for future the trends
    growth - they should be thinking - assesses the KPI performance to
    long term and the big picture comes up with strategies and
    solutions to fix problems.
    Innovative HR Practices

    Job Title Customization Two-way Mentoring


    Progressive HR departments are ditching While on one hand, the new joinees can learn
    conventional job titles and are opting for invaluable product knowledge from the
    position built on the basis of employee veterans, the seasoned employees can also
    learn new technologies from the newbies.
    strengths and weaknesses. Innovative
    Mandatory PTO
    Practices Gamification
    PTO stands for Paid Over Time. It consists of either virtual tour of the workplace
    Unlimited PTO has resulted in more or simulation game of the potential job’s tasks.
    rested workforce and lesser chances This may interest the young talent and they may
    of employee burnout. choose to apply to the company.

    Employees as Customers
    Technology- enabled Collaboration
    Employee happiness is as critical as Top companies have been able to gather
    customer happiness. Employees
    innovative ideas from diverse employees by
    satisfaction is important for
    employee retention. means of forums in the company, intranet
    and other group efforts.
    8

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