netrashetty
Netra Shetty
Human Resource Management of Goldman Sachs : The Goldman Sachs Group, Inc. is a global investment banking and securities firm which engages in investment banking, securities, investment management, and other financial services primarily with institutional clients. Goldman Sachs was founded in 1869 and is headquartered at 200 West Street in the Lower Manhattan area of New York City, with additional offices in major international financial centers. The firm provides mergers and acquisitions advice, underwriting services, asset management, and prime brokerage to its clients, which include corporations, governments and individuals. The firm also engages in proprietary trading and private equity deals, and is a primary dealer in the United States Treasury security market
Communicated
expectations concerning the ethical duties of employees are often linked to
espoused goals of creating an ethical organizational culture and associated
with organizational effectiveness and success. However, ethics-related
guidance for American HRM practitioners usually does not explore the basic
assumptions and values upon which HRM ethical obligations or duties are
socially constructed in work organizations. Nor do many textbooks and related
HRM publications contrast how dominant values assumptions held by
American HRM professionals, in contrast to assumptions found elsewhere,
may impact their sense of ethical obligation.
What do HRM authors and educators tell us are the ethical responsibilities
or obligations of American HRM practitioners? Some authors try to specify
those HRM activities or role demands that have more potential for ethical
conflict or challenge. Gandtz and Hayes (1988, p. 664) include ethical
challenges, particularly in the areas of discrimination, psychological testing,
anti-union activity, work design, employment security, employee discipline,
confidentiality, employee privacy, technology-induced displacement and
negotiating practices. A survey of over 1,000 American HRM professionals
(Danley et al., 1991) reports that the ``most serious ethical situations'' facing
these individuals were favoritism in hiring, training, promotion, pay and
discipline due to friendships with top management; sexual harassment;
inconsistent discipline practices; not maintaining confidentiality; sex
discrimination in promotion, compensation and recruitment; non-performance
factors used in appraisals; and arrangements with vendors or consulting
agencies leading to personal gain.
The link between Human Resources and Business Strategy
All elements of the business strategy have implications for human resources, as illustrated in the table below. The
challenge for management is to identify and respond to these HR challenges:
Examples of Key Strategy
Issues Possible Human Resource
Implications.
What markets should the
business compete in?
What expertise is required in these
markets? Do existing management
and employees theright experience
and skills.
Where the business should be
located to compete optimally?
Where do we need our people? How
many do we need?
How can we achieve
Improvements in our unit
production costs to
remain competitive? How productive is the workforce
currently? How does this compare
with competitors? What investment
in the workforce (e.g. training,
recruitment) and their equipment is
required to achieve the desired
improvement in productivity?
How can the business effect
cultural change? What are the current values of the
workforce? How can the prevailing
culture be influenced/changed to
help implement a change
programmed?
How can the business respond
to rapid technological change
in its markets? What technological skills does the
business currently possess? What
additional skills are needed to
respond to technological change?
Can these skills be acquired through
training or do they need to be
recruited?
An important part of HRM is the Human Resources Plan. The purpose of this plan is to analyse the strategic requirements of the business in terms of manpower - and then to find a way of meeting the required demand for labour. This is the subject of a separate revision note.
Human Resource Management, in the sense of getting things done through people. It's an essential part of every manager's responsibilities, but many organizations find it advantageous to establish a specialist division to provide an expert service dedicated to ensuring that the human resource function is performed efficiently.
"People are our most valuable asset" is a cliché which no member of any senior management team would disagree with. Yet, the reality for many organizations is that their people remain
under valued
under trained
under utilized
poorly motivated, and consequently
perform well below their true capability
The rate of change facing organizations has never been greater and organizations must absorb and manage change at a much faster rate than in the past. In order to implement a successful business strategy to face this challenge, organizations, large or small, must ensure that they have the right people capable of delivering the strategy.
The market place for talented, skilled people is competitive and expensive. Taking on new staff can be disruptive to existing employees. Also, it takes time to develop 'cultural awareness', product/ process/ organization knowledge and experience for new staff members.
As organizations vary in size, aims, functions, complexity, construction, the physical nature of their product, and appeal as employers, so do the contributions of human resource management. But, in most the ultimate aim of the function is to: "ensure that at all times the business is correctly staffed by the right number of people with the skills relevant to the business needs", that is, neither overstaffed nor understaffed in total or in respect of any one discipline or work grade.
Communicated
expectations concerning the ethical duties of employees are often linked to
espoused goals of creating an ethical organizational culture and associated
with organizational effectiveness and success. However, ethics-related
guidance for American HRM practitioners usually does not explore the basic
assumptions and values upon which HRM ethical obligations or duties are
socially constructed in work organizations. Nor do many textbooks and related
HRM publications contrast how dominant values assumptions held by
American HRM professionals, in contrast to assumptions found elsewhere,
may impact their sense of ethical obligation.
What do HRM authors and educators tell us are the ethical responsibilities
or obligations of American HRM practitioners? Some authors try to specify
those HRM activities or role demands that have more potential for ethical
conflict or challenge. Gandtz and Hayes (1988, p. 664) include ethical
challenges, particularly in the areas of discrimination, psychological testing,
anti-union activity, work design, employment security, employee discipline,
confidentiality, employee privacy, technology-induced displacement and
negotiating practices. A survey of over 1,000 American HRM professionals
(Danley et al., 1991) reports that the ``most serious ethical situations'' facing
these individuals were favoritism in hiring, training, promotion, pay and
discipline due to friendships with top management; sexual harassment;
inconsistent discipline practices; not maintaining confidentiality; sex
discrimination in promotion, compensation and recruitment; non-performance
factors used in appraisals; and arrangements with vendors or consulting
agencies leading to personal gain.
The link between Human Resources and Business Strategy
All elements of the business strategy have implications for human resources, as illustrated in the table below. The
challenge for management is to identify and respond to these HR challenges:
Examples of Key Strategy
Issues Possible Human Resource
Implications.
What markets should the
business compete in?
What expertise is required in these
markets? Do existing management
and employees theright experience
and skills.
Where the business should be
located to compete optimally?
Where do we need our people? How
many do we need?
How can we achieve
Improvements in our unit
production costs to
remain competitive? How productive is the workforce
currently? How does this compare
with competitors? What investment
in the workforce (e.g. training,
recruitment) and their equipment is
required to achieve the desired
improvement in productivity?
How can the business effect
cultural change? What are the current values of the
workforce? How can the prevailing
culture be influenced/changed to
help implement a change
programmed?
How can the business respond
to rapid technological change
in its markets? What technological skills does the
business currently possess? What
additional skills are needed to
respond to technological change?
Can these skills be acquired through
training or do they need to be
recruited?
An important part of HRM is the Human Resources Plan. The purpose of this plan is to analyse the strategic requirements of the business in terms of manpower - and then to find a way of meeting the required demand for labour. This is the subject of a separate revision note.
Human Resource Management, in the sense of getting things done through people. It's an essential part of every manager's responsibilities, but many organizations find it advantageous to establish a specialist division to provide an expert service dedicated to ensuring that the human resource function is performed efficiently.
"People are our most valuable asset" is a cliché which no member of any senior management team would disagree with. Yet, the reality for many organizations is that their people remain
under valued
under trained
under utilized
poorly motivated, and consequently
perform well below their true capability
The rate of change facing organizations has never been greater and organizations must absorb and manage change at a much faster rate than in the past. In order to implement a successful business strategy to face this challenge, organizations, large or small, must ensure that they have the right people capable of delivering the strategy.
The market place for talented, skilled people is competitive and expensive. Taking on new staff can be disruptive to existing employees. Also, it takes time to develop 'cultural awareness', product/ process/ organization knowledge and experience for new staff members.
As organizations vary in size, aims, functions, complexity, construction, the physical nature of their product, and appeal as employers, so do the contributions of human resource management. But, in most the ultimate aim of the function is to: "ensure that at all times the business is correctly staffed by the right number of people with the skills relevant to the business needs", that is, neither overstaffed nor understaffed in total or in respect of any one discipline or work grade.
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