Formalising human resource practices in a family-centric business: the case of Precision Engineering

Formalising human resource practices in a family-centric business: the case of Precision Engineering Anshuman Rath, Sumita Mishra

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Precision Engineering was a manufacturer of machined metal components in the Indian automotive components industry. It had been a family-run business since its inception in 1995. Precision was awarded the prestigious Automotive Component Manufacturers of India award in 2020 for excellence in HR. Ms Sakshi Kapoor, General Manager of Innovation, was ecstatic at the receipt of this award. She, however, was thoughtful about the informal human resource (HR) practices at the company. The top management had announced an aggressive growth plan and advised Ms Kapoor to leverage HR practices to facilitate these plans. Recruitment and selection, employee training and performance management systems needed to be formalised on a priority basis to strategically aid the future business agenda at Precision. Ms Kapoor faced the challenge of preparing the roadmap of HR 2.0 while preserving the employee-centric beliefs at Precision. The case initiates a discussion to achieve this goal by adopting suitable HR metrics and models.

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Formalising human resource practices in a family-centric business: the case of Precision Engineering
ISSN: 2045-0621
15p.: pdf file.; 1023 KB
English

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Formalising human resource practices in a family-centric business: the case of Precision Engineering Anshuman Rath, Sumita Mishra
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Emerald
New York
2024

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