HRM Part of a module in a Business degree Assignment

HRM Part of a module in a Business degree - Assignment Example After the candidates appear for tests and interviews, the best amongst them is chosen for the job under consideration. This person then gets hired with either a contractual job or a fixed one. In essence, the recruitment and selection procedures entail of the different norms that take place from the starting to the finish. The procedures comprise of all the tasks which are deemed as significant in the selection process (Smith & Robertson, 1993). It must be understood here that the selection processes are very cumbersome at times because they involve a lot of thinking on the part of the selection committees within the workplace domains. They have to work towards completion of tasks as well as solve the problems related with hiring the best individual for the said position. It is indeed a headache for some of the organizations in the time and age of today, and quite rightly so, due to a host of factors involved with the eventual recruitment process. Selection procedures include the dif ferent selection tools which are the interviews, the exams, the psychological and stress related tests, medical exams and so on. The manner in which these exams and interviews come about depends a great deal on the way the selection processes are aligned within the domain of the organization itself. ... In fact the human resources department has the most important role in the selection process because it has to forward the soundest individual to the top management for the sake of interview, after he/she has cleared the exam and medical test. Hence the ideological basis of the human resources department is of utmost essence within the related scheme of selection processes that work to good effect in producing viable results in recruitment and selection domains. The selection processes work towards building the core competencies of the individuals as well as detailing them with regards to what is deemed as the most significant rationale for the organization with respect to these employees. It is pertinent to understand that these selection processes will bring in the much touted results and there would not be any problems in the wake of hiring the right people for the right jobs. Recruitment and selection are taken of as being the most significant yardsticks for discerning how sound t he strategic human resource management will shape up within any organization. What this implies is the fact that reasonably adequate individuals are recruited and selected for the jobs as this shall bring in the goals and objectives which have been envisaged by the organization in the past. There is a great deal of learning which shapes up the strategic human resource management; and how the same is dealt with has to be given proper consideration as well. This is because recruitment and selection matters discuss how well people are suited to perform their jobs and what best they can do to bring out solid results for the sake of the organization that is under discussion. The top management

Finance Issues during the First Five Years of a New Company Essay

Finance Issues during the First Five Years of a New Company - Essay Example Accumulated losses of the first 3 years have only been neutralized in the last accounting period for which actual results are available. Consequently, the company has never declared a dividend and does not even forecast one for the first year of forecasted business results. Â  2. The Gross Margin has improved from 18.75% in 2004 to 21.57% in 2005. The forecast Gross Margin for 2006, at 22.92% is only slightly higher than the latest achievement of 2005. However, fuel costs, which are significant for a business such as that of PDS is forecast to rise to 26.04% of revenue, as against 25.49% in 2005 and 25% in 2004. It appears that PDS is not able to secure protection against a major inflation driver into its business contracts. However, PDS has been able to reduce variable labor expenses from 56.25% of revenue to just 52.94% in 2005 and expects the trend to continue with a forecast of just 51.04% in 2006. These are significant productivity gains in a challenging human resources environment. Similarly, staff salaries are forecast to remain constant in 2006 compared to 2005, though net profits will more than double. Â  3. Leased capacity utilization has improved very significantly during the past five years, considering the remarkable rise in revenues. However, depreciation at less than 5% of the gross block in vehicles seems to totally inadequate. The depreciation reserve is entirely inadequate and distorts the profitability picture, including the basis for taxation. Â  4. Though the debenture loan and bank overdraft show plenty of scope for gearing compared to the Gross Block, the company does not have any immovable fixed assets.