NMO S4 SPRINT ONE | BUSINESS CASE SCENARIO - 03
Submission BCS
To facilitate rapid growth, develop a hiring and incentive strategy for human resources focusing on worldwide expansion.
Submission Date & Time: 2021-11-25 12:13:16
Event Name: NMO S4 Sprint One - IIM Visakhapatnam
Solution Submitted By: Ishita Soni
Assignment Taken
NMO S4 SPRINT ONE | BUSINESS CASE SCENARIO - 03Case Understanding
Ramalingam Foods is a fast food restaurant that was founded in 1965 in south Bombay by Mr. Ramalingam Venkatesh. The restaurant was known for its authentic South Indian freshly prepared food and filter coffee. The firm is now on the lookout for international expansion. THE COMPANY'S PROBLEMS WITH HUMAN RESOURCES INCLUDE: 1) Employees from different countries on the new international site where the company intends to develop may lack knowledge of the items being offered. 2)In a new overseas location, employees may find it difficult to comprehend the local culture and taste, which may have an impact on the company's profitability. 3)Hiring new personnel for a new overseas location is tough, and the company will struggle owing to variables such as low or insufficient capital, and wage/salary structure differences. 4)In a new international location, the company may find it challenging to achieve an ideal mix of people from various departments, affecting cooperation between departments such as finance, marketing, human resources, and information technology, among others.BCS Solution Summary
1)The employees need to be given training and knowledge regarding the food products or food items that the organization is going to sell so that employees can explain about their products to customers. 2)The newly recruited employees of the new foreign location should be instructed and made motivated to understand the taste and preferences of the local population of the country. The employees should consult the marketing department in understanding the taste and preferences of the local department. Also, The company should look to hire more local people from the new country. 3)Ramalingam Foods' management should work with both the HR department and the government of the country where it wants to expand to understand and learn about the salary structure there, as well as coordinate with the finance department on the cost of hiring and the incentive strategy to be implemented. 4)The HR department and management of Ramalingam Foods should research other companies' practices (in the same industry) in the new location where it will open shop and try to implement them. In this way, the company will be able to achieve the desired optimal mix of employees in each department, which is critical for the smooth operation of the business.Solution
Management principles used for the above solutions -
Initiative
Coordination
Development of Each and Every Person to His / Her Greatest Efficiency and Prosperity
Division of Work
Hiring incentive strategy –
Conducting Interviews in a proper manner by asking the right interview questions as per different countries: -
Ramalingam Foods must have a thorough awareness of the various levels of educational qualification as well as the diverse quality of schools in the region from where it is considering hiring. Because the name of a qualification/course covering a comparable syllabus or curriculum in different countries may change, it is vital that Ramalingam Foods evaluates candidates carefully and fairly, thus it must conduct some preliminary research.
Malaysia's and Singapore's educational systems, for example, may differ. There are also regional differences in interviewing methods and approaches, resulting in a rather extensive list of dos and don'ts in interview questions. For example, in certain nations, you can inquire about a candidate's present and previous salary, but in others, such inquiries are prohibited. As a result, Ramalingam Foods must likewise bear this in mind.
Choosing the Correct Sourcing Strategy and Channel:
Employer branding is a powerful tool for attracting top personnel. Ramalingam Foods should strive to retain its worldwide attractiveness and competitiveness for potential candidates as a global firm. Varied nations have different success percentages for the same sourcing channel when it comes to locating competent personnel. A good sourcing strategy should take into consideration cultural variations. In terms of the worldwide market, Ramalingam Foods should take advantage of internet employment portals, which are an excellent technique for recruiting suitable talents.
Identifying Cultural Differences:
When selecting individuals for its international company, Ramalingam Foods needs to bear in mind the cultural variances that exist in different nations. When attempting to recruit in a foreign nation, it's also important to understand cultural differences and how they play out in the interview process.
For example, if applicants in your home country are expected to brag about their achievements, Ramalingam Foods will be perplexed if the new nation's recruiting objectives are quieter, more humble, and self-effacing. Researching the norms and practices that the organization is likely to meet will help to avoid misunderstandings and missed chances later on.
Maintaining compliance
Because industrial and labor relations laws differ from nation to country, Ramalingam Foods Management must follow local rules and regulations addressing the employment procedure in the foreign country. Distinct nations have different legislative requirements for different job categories, such as minimum salary, social security, income tax, medical benefits, leave policy, working hours, offer letter, appointment letter, notice periods, and so on, so the firm must follow the rules.
Understanding the Differences in Compensation
Before recruiting, Ramalingam Foods should keep in mind that various nations have distinct currencies and pay cultures.
Ramalingam Foods should be aware of the currency of the nation for which the recruiting is being
conducted, as well as how that currency relates to the currency in which the company keeps its
budget and costs.
This aids in determining a candidate's wage expectations in relation to the position's budget, as well as effective negotiating.
Furthermore, the company should be aware of the pay scales for various job kinds in the new nation. The pay scales for the same work in various nations might be vastly different.
Number of employees to be Hired across different departments in the following countries –
DEPARTMENTS COUNTRIES TOTAL NO OF EMPLOYEES
|
FINANCE |
SINGAPORE, MYANMAR, INDONESIA, THAILAND & MALAYSIA |
5(one/country) |
|
MARKETING |
SINGAPORE, MYANMAR, INDONESIA, THAILAND & MALAYSIA |
5(one/country) |
|
HR |
SINGAPORE, MYANMAR, INDONESIA, THAILAND & MALAYSIA |
5(one/country) |
|
IT |
SINGAPORE, MYANMAR, INDONESIA, THAILAND & MALAYSIA |
5(one/country) |
|
OTHERS |
SINGAPORE, MYANMAR, INDONESIA, THAILAND & MALAYSIA |
5(one/country) |
|
CORPORATE HEAD(TO OVERSEE THE OPERATIONS OF ALL THE FIVE COUNTRIES) |
SINGAPORE, MYANMAR, INDONESIA, THAILAND & MALAYSIA |
1 |
Incentive strategy –
Ramalingam Foods is a company based in Ramalingam, India In order to maximize employee performance, the company should consider offering both monetary and non-monetary incentives if the employees meet the following goals:
1)Excellent customer service, with an emphasis on the quality of its food items and suggestions for improvements.
2) Achieving Ramalingam Foods' short-term targets stated by the company's management
3) Successfully collaborating with several restaurant chains to expand distribution of its food goods.
4)Improving or exceeding Ramalingam Foods' previous performance in terms of customer service, revenue, and profitability.
5) Increased sales of its food goods demonstrate efficiency.
Monetary Incentives at Ramalingam Foods may include-
1) Bonuses for surpassing the targets as defined by the management
2) Commission for meeting the sales target
3) Financial incentives
Non-monetary incentives at Ramalingam Foods may include:
1) Formal recognition/awards for high-performing staff
2) Extra vacation time for meeting particular product sales objectives specified by management
3) Gifts
4) Company automobiles for high-ranking employees who do especially well.
Cost estimates for implementing Hiring and Incentive Strategies across departments in the countries for the next fiscal year -
Q1 Q2 Q3 Q4 TOTAL
|
FINANCE |
1 |
1 |
2 |
2 |
6 |
|
MARKETING |
2 |
3 |
1 |
2 |
8 |
|
HR |
1 |
1 |
2 |
1 |
5 |
|
IT |
2 |
1 |
2 |
2 |
7 |
|
OTHERS |
1 |
1 |
1 |
1 |
4 |
Conclusion
Ramalingam Foods, based in India, should carefully consider its incentive plan for its personnel, and the management could rely on the advice of its business consultant in this respect.Attached File Details
View Attachment file (NMO-HR.docx)Comments
Article Type: Business Case Scenario, Case Study Solution Submission
Business Case Detail
Title: NMO S4 SPRINT ONE | BUSINESS CASE SCENARIO - 03
Type: Case Study
Stream: Management
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