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Human Resources Trends and Practices

For the SEIIC scenario below, answer the following questions:

1. Identify major trends that are likely to affect a company such as SEIIC.

2. Provide insight in the following areas by identifying at least three significant issues or trends for EACH area:
A) Economic and financial (3 significant issues or trends)
B) Legal and political (3 significant issues or trends)
C) Social and cultural (3 significant issues or trends)

3. Discuss how these trends will affect SEIIC. Be specific in linking the trends that you identify with specific areas of HRM (e.g., employment, managing diversity, training and development, performance management, compensation and benefits, health and safety, and international HRM) implications to the trends that you have identified.

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Scenario:

Savannah Engineering, Inspection and Insurance Company (SEIIC) is one of America's oldest insurance companies specializing in equipment inspection and insurance for companies in the manufacturing, transportation, and energy sectors. Founded in 1873 and named for the first steam-powered ship to cross the Atlantic, SEIIC has grown to become a global leader in the application of engineering principles to safety and risk management. With more than 4,500 employees in 14 principal offices and 55 field locations around the world, SEIIC stands ready to meet industry needs on any continent.

More than 50% of the SEIIC employees have an engineering or technical background. Accordingly, college recruiting and training are major features of the HR program. Although SEIIC has been known as a great place to work, turnover/retention issues need constant attention in the highly competitive labor market for technical personnel. In the past, the company was also known for outstanding customer service and for building long-term relationships with its many business partners. However, this image has slipped in recent years as the company and market have undergone significant change in the post-9/11 world and the company has struggled to respond in effective ways. As a result, SEIIC has decided to undertake a complete updating of its human resources management practices.

To accomplish this effort, the company wants to investigate emerging trends in HR and to identify best practices for major HR processes. To accomplish this investigation, the company has divided the project into five components as follows:

- Exploration of the business, legal, and financial environment
- Trends and best practices in recruiting and staffing
- Trends and best practices in HR development-training, performance management, and career management
- Trends and best practices in compensation and benefits
- Trends and best practices in international HR management

Finally, a recommendation will be made to the Senior VP for HR that summarizes the key trends and makes specific recommendations for practices to be adopted by the company in its new approach to HR management.

Solution Preview

In the following paper, an analysis of the major trends affecting the Savannah Engineering, Inspection and Insurance Company (SEIIC) of America in different ways will be made. These trends will then be linked with some of the specific areas of HRM.

The SEIIC, founded in 1873 is among the America's oldest indemnity covering companies which is focused in equipment assessment and insurance for businesses in the building-up, shipping and energy sectors. Today it has more than 4,500 staff; most of who possess an engineering and technical background in 14 principal offices and 55 field locations across the globe.

Since SEIIC is a pioneer in manufacturing steam-powered ships, thus, one of the major trends are likely to affect a company like SEIIC pertain to the possession of wood of unique characteristics, that is, wood that gives service for centuries. Apart from this, the other trends expected to affect SEIIC are high level fire safety apprehension and that too at the national level would be required; the standards and disclaimers of the material exploited in order to guarantee a well-match amid excellence of manufactured goods and its end use; some special treatments to be applied to the wood moreover to perk up its performance or modify its properties and enhance stability; major technology as well as product styles; shift towards a comprehensive financial system through expertise enlargement; the mergers and purchase in indemnity covering business are liable to plunge; government policies positioning a sturdy base out looking for productive development; training and instructing the staff to adopt the significant changes; keeping a balance and connect expenditure and revenue margins; and augmented rivalry from other equipment merchants that would escort to breaking up of the markets.

After the identification of some of the major trends that could affect SEIIC company, we try to provide an insight in the three prime areas of concern of the company.

The three issues related to the economic and financial area of SEIIC are a detail and profound scientific proficiency to be renowned by the system; a concrete pathway of documentation of development all the way through acquisitions; and the aptitude as well as control in influencing a well-organized and intense global set-up.

The three issues allied to the legal and political quarter of SEIIC Company are the legal responsibility coupled with the expansion, production, and exploiting of the system; laying down a crisis or failure managing bureau for the entire state; and safety and workplace violence.

The three issues associated to the social and cultural part of SEIIC Company are the development of a hazard-free and a healthy workplace environment; physical as well as economic affordability of all the health facilities; and reimbursement for the staff members related to safety along with health.

After the brief explanation of the prime trends affecting SEIIC, we elaborate the trends or issues in particular with the area of HRM.

All these trends or notions symbolize victorious explanations in HRM (Human Resource Management), which in today's time can be ...

Solution Summary

The response addresses the queries posted in 1096 words with references.

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