Wednesday, May 6, 2020
Saudi Arabia Versus Iran And The Ongoing Sunni Shia Conflict
The topic for this capstone project is ââ¬Å"Saudi Arabia versus Iran and the Ongoing Sunni-Shia Conflictâ⬠. The paper will delve into the historical split between the Sunni and the Shia, as well as the relationship between Saudi Arabia and Iran given the fact that Saudi Arabia is a predominantly Sunni state while Iran is a predominantly Shia state. Evidently, this ancient divide is contributing in one way or the other to the resurgence of conflict in Muslim countries especially in the Middle East. For instance, it is this struggle between the Sunni and the Shia that feeds the current Syrian civil war, which is threatening to change the Middle East. The divide has also fueled violence in other Gulf countries such as Iraq, Bahrain, Yemen, as well as Lebanon. Notably however, the entire conflicts are not defined in respect to this Shia Sunni divide since there are many other economic, political, as well as geostrategic factors that fuel the conflicts. Nonetheless, the split is on e prism that can help in understanding these tensions (Luomi 36). The two nations of Saudi Arabia and Iran are competing for power and leadership in the Islamic world; consequently, they are employing many tactics including the sectarian divide to attain these ambitions. It is at this backdrop that the paper will look into the relationship of these two gulf counties including Bahrain, Yemen, and Syria. Besides the proxy war, there is also the fervor of armed militants in the Gulf that are motivated by theirShow MoreRelatedOil s Impact On The Economic Spectrum3994 Words à |à 16 Pagesreport, we endeavour to predict whether the Brent crude oil price will be above or below the current ââ¬Å"spotâ⬠price of around US$60 per barrel in one and five years time and we consider demand concerns in China, supply issues within the US and OPEC (Saudi Arabia especially) as well as global geopolitical impacts. In Part B, fuel is the largest operating expense for an airline and we will assess the vulnerability of the share prices for Qantas and Virgin Australia to movements in the oil price. Part A
Tuesday, May 5, 2020
Employee Engagement Employee Engagement Programme
Question: Discuss about the Employee Engagement for Employee Engagement Programme. Answer: Introduction Human Resource Management is an important factor for any company's success. Managers are of the agreement that the modern business need more efficiency and higher productivity. One way of gaining competitive advantage is through developing satisfied and talented employees. Satisfied employees always want to work for an organization for a longer period, contribute to high productivity and workforce stability. However, things have changed, and employees' satisfaction does not guarantee productivity and high profitability (Abraham, 2012, p. 28). The employer should motivate the employees to apply their full capabilities and potential to their jobs. Employees need to be valued and recognized so as to be available for the company. One method of employees' recognition is known as employee engagement in company operations. Employee engagement is defined as a tool used by company's gain competitiveness and maintains it (Dernovsek, 2008, p. 42). This paper provides an overview of employee engagement and its effects on the company's operations. More specifically, the paper investigates different methods used by companies to promote engagement among its workforce. The Frishco Company is one of such organizations that has implemented different methods of engagement as discussed in the paper. The study also elaborates on the symptoms, causes, and consequences of employee disengagement on companies. Lastly, the most effective engagement methods based on the current level of competition, technological advancement, and economic issues have been discussed (Attridge, 2009, p. 384). The Frishco's success can be attributed to several engagement methods that it has employed in its operations. Following a study conducted by the organization to identify the best ways of engaging its employees, Frishco has so far implemented the methods discussed below: Changing the organizational culture and communication style to fit the employees Frishco developed an employee-centred culture that focussed on effective engagement. The company gives its employees an opportunity to air their voices about the necessary changes that ought to the made. The employees are always encouraged to present their feedback on either their satisfaction or dissatisfaction the firm's operations (Gallup, 2006, p. 43). Frishco has implemented the following ways to enhance sharing information between the management and the employees. The release of internal employee magazine known as the "Your Frishco" which is used to familiarize the employees with the company's leadership style, organizational structure, and culture as well as employees views about the company. Morning briefing which informs the shop floor teams about their daily operations in additional to the latest sale statistics. Intranet which allows sharing of information between the management and the employees as well as among the employees themselves. The intranet enables the employees the operational aspects to focus on instead of information being pushed on them. Employee forums which allow the employees to present their opinions, issues affecting them to the management. The forum is also used to gather the employees' ideas on the company's strategies. Frishco has created a scheme known as the (Bright Ideas" that motivates employees on sharing their innovative and creative ideas aimed at improving the organization. Based on the views collected from the employees, the approaches have been proved to be effective. Frishco has focused on the democratic style of leadership where the employees are allowed to make decisions and share their views as well. The ideas presented by the employees are used to make continuous firm's improvement (Bakker, A Schaufeli, 2008, p. 153). Frishco has developed a culture that encourages respect and trust among its stakeholders. The management has embarked on internal leadership development to encourage employees, company's and stakeholders' development in the following ways: Talent plotting where the management spots talented employees and develops them into leaders. Coaching and mentoring where coaches and mentors guide junior employees through face-to-face interaction and structured feedback. The strategy has enabled building strong and positive relationships, reinforce trust and develop managerial skills at Frishco (Price, 2011, p. 67). Support networks: managers from different departments meet on a monthly basis to share views and ideas on improving the company's performance. The decisions made during the meetings are then shared with the employees to gather their views. Frishco Company recognizes the importance of promoting the employees' intrinsic values. For the purpose of career development, the company encourages job enrichment, job enlargement, and job rotation (Armstrong, 2010, p. 111). Through cross-departmental experiences, the employees are developed personally. Likewise, the management encourages its employees to undertake new and challenging yet achievable tasks through a process known as job enlargement. The company has conducted four surveys to determine the impact of employees' engagement in its general operations. The results showed that there is increased sales volume, effective decision making and customers' satisfaction which are attributed to improvement performance by the employees (Torrington, et al., 2008, p. 132). Likewise, the employees have become aware of their roles and responsibilities in the organization. 91% of the employees who took part in the surveys stated that they were happy with the company because their efforts are high recognized and appreciated. The Frishco's employee turnover has reduced by half over the last five years (Wellins, 2005, p. 98). The findings from the research show that employee engagement has a positive impact on both the employees and organizational performance. Frishco has recognized that employees are an asset it cannot do without. Employees' disengagement is attributed to increased cost, loss of productivity, and hindered efficiency. Some symptoms of employee disengagement include high employee turnover, lack of passion and undermining the operating guidelines offered by the management (Kahn, 1990, pp. 693-712). Disengaged employees have the following commonalities; The jobs are not personally purposeful and meaningful. The employees lack the sense of self-autonomy and determination. The employees believe that the rules are applied partially and unfairly. The management does not provide useful and constructive feedback on the queries raised by the employees. There is no supportive relationship between the management and the employees as well as among the employees. The job lacks opportunities for personal development. Some of the causes of employee disengagement are; Lack of adequate training and development for the employees. Reduced compensation benefits for the employees Existence of employee-management conflicts Consequences of employee disengagement Kills employees' morale Actively disengaged workforce is more likely to cause dissatisfaction and disruption in the company compared to the actively engaged employees. Dissatisfaction of employees leads to lack of morale to perform their duties. Demoralized employees have a negative impact on the organization's performance (Karsan, 2011, p. 54). Disengagement decreases productivity There is a correlation between the level of employees' engagement and their productivity. As compared to actively engaged employees who use fewer resources to earn more money for their firms, disengaged employees earn less revenue for their companies (Graen, 2008, p. 74). The level of engagement among the employees is used as a pivot to measure the success of any organization in meeting its goals and objectives. In this regards, a company experiencing employee disengagement would fail in meeting its organizational goals. Employee disengagement negatively affects customers Discontent among the employees does not stop at the business' front line. Customers have become more sensitive to the issue affecting organizational and are more likely to respond accordingly. Excellent customer services lead to brand loyalty and consumer loyalty. Employee engagement creates a positive bond between the employees and the customers. However, disengaged employees lack the pride and enthusiasm to increase/ improve the customer satisfaction (Karsan, 2011, p. 55). When customers sense that employees' are unhappy with the general operations of the company, they tend to switch to other companies to enhance their satisfaction. Therefore, when examining employee disengagement, it is important to identify the correlation between customer satisfaction and employee engagement (Leiter Bakker , 2010, p. 108). Disengaged employees are full of excuses Disengaged employees will always look for false excuses to leave an organization. For example, they are likely to pretend that they are sick but in a real sense, they are busy looking for greener pastures. The points explain why there is a direct correlation between dissatisfaction and high rates of employee turnover. When employees feel that their personal development is not catered for, they won't put more effort in meeting the organizational goals but instead, look for exit strategies (Cartwright Holmes, 2006, pp. 199-203). Disengaged employees are associated with health problems and experiencing negative feelings. Employee disengagement is linked to depression and anxieties. The employees are emotionally exhausted, unhappy with their employers and cynical (Robison, 2010). With the lack of stress management mechanisms, work related stresses are likely to be transferred into homes leading to social problems. Disengaged employees are not good ambassadors for their companies. They do not recommend their company as the best place to work in. Likewise, they do not urge their friends and family members to use the company's products or services (Abraham, 2012, p. 30). Conversely, the employees are less creative and innovative and share new production ideas with other employees. Disengaged employees are not committed towards meets the customer and organizational needs. The impact of employee disengagement shows that the phenomenon brings more harm to an organization. The methods of employee engagement are dynamic, and any organization should be alert to such changes and invent new strategies aimed at making irresistible to the worker for. In the case of Frishco Company, the following, methods should be involved in employee engagement. Improved compensation benefits A lot of surveys have shown that compensation and benefits package are important drivers of employee satisfaction. Although compensation is not an engagement factor but rather a hygiene factor, employees are more likely to leave a company with poor compensation packages (Dernovsek, 2008, p. 88). Compensation improves the engagement level of employees in meeting the organizational needs. Making jobs look meaningful Frishco should ensure that the jobs fit personal development. Jobs should provide the employees with the autonomy and tools to succeed. The company should select the right people to perform the right jobs (Bakker, A Schaufeli, 2008, p. 121). The organization should recognize that jobs are transformed by technological advancement and align its jobs requirements with the current technology. Technology contributes to less expense in human input and more productivity. Studies have shown that when jobs are enriched, offering the employees more autonomy, the power and liberty to make decisions, support, and time, the firm earns more money. Frishco will have a higher profitability level when the employees are given more power to control their jobs (Karsan, 2011, p. 55). Aligning jobs to employee needs increases engagement rates, high level of employee retention and productivity level. Fostering great management Management refers to the continuous activities used by the managers to support, align and guide their employees. Managers have the responsibility to develop internal processes, build products, serve clients and guide the employees. To improve the employee engagement, the Frishco's management should set achievable goals, support the employees, listen to the employees' opinion, coach them for higher performances and offer feedback for continuous performance improvement. Fostering excellent management practice has a positive impact on employee engagement, retention, and performance (Price, 2011, p. 148). Establishing a humane, flexible, and inclusive workplace Employees have complicated lives and therefore needs a supportive and flexible work environment. Open and flexible workplaces encourage trust between the management and the employees. Likewise, employee engagement should be an ongoing and continuous recognition process. The key to active engagement is created through a social environment that encourages smooth relationship between the stakeholders and making managers be team players rather than judges of the employees (Attridge, 2009). Other engagement factors that Frishco should implement are; a) creating ample growth opportunities; b) establishing purposeful, visionary, and transparency leadership; and c) providing timely feedback to the employees. Conclusion Companies, like Frishco that engage their employees through training both do create stronger feelings of loyalty and trust in their employees. Even though employee engagement cannot fully eliminate the employees' dissatisfaction with the overall operations of an organization, it helps in cutting down on the loss of business and resources, which ultimately assist in fuelling company growth (Dernovsek, 2008). Although many companies consider employee engagement as an unimportant concept, it has a real effect on Frisch's bottom line. For customer satisfaction, better productivity, and profit, implementing active employee engagement and employee-driven leadership is a necessity. Employee disengagement leads to a drain on time and resources that are not required for the success of companies operating in the today's competitive economy (Torrington, et al., 2008). Some of the noticeable warning symptoms of disengaged employees are tardiness absenteeism, withdrawal behaviour, and increased negativity. The signs of employee disengagement can also be witnessed through lack of energy to perform, unnecessary mistakes, lack of attachment, and low morale (Cartwright Holmes, 2006). By establishing the impact of engagement or disengagement, we have established that employee engagement comes with a positive effect on the company's performance while employee disengagement causes a lot of harm to the company. The most feasible way of protecting the company from the different impact of employee disengagement is by implementing engagement techniques such as improved compensation benefits, making jobs look meaningful, fostering excellent management, establishing a humane, flexible, and inclusive workplace, training and development and coaching (Armstrong, 2010). References List Abraham, S., 2012. Development of Employee Engagement Programme on the basis of Employee Satisfaction Survey. Journal ofEconomic Development, Management, IT, Finance and Marketing, 4(1), pp. 27-37. Armstrong, M., 2010. Hand book of Human Resource Management Practice. 12th edition ed. s.l.:Kogan Page ltd. Attridge, M., 2009. Measuring and Managing Employee Work Engagement: A Review of the Research and Business Literature. Journal ofWorkplace Behavioral Health, 24(4), p. 383 398. Bakker, A Schaufeli, W., 2008. Positive organizational behavior: Engaged employees in flourishing organizations. Journal of Organizational Behavior, Volume 29, p. 147154. Cartwright, S. Holmes, N., 2006. The meaning of work: the challenge of regaining employee engagement and reducing cynicism. Human Resource Management Review, Volume 16, p. 199208.. Dernovsek, D., 2008. Engaged Employees. Credit Union Magazine, 74(5), p. 42. Frishco, n.d. Case Study, s.l.: Frishco Company. Gallup, 2006. Gallup study: engaged employees inspire company innovation. The Gallup Management Journal. Graen, G., 2008. Enriched engagement through assistance to systems change: a proposal. Industrial and Organisational Psychology, Volume 1, p. 7475. Kahn, W., 1990. Psychological conditions of personal engagement and disengagement at work. Academy of Management Journal, Volume 33, pp. 692-724. Karsan, R., 2011. Engaging and aligning employees. Training Journal, pp. 52-55. Leiter , M. Bakker , A. B., 2010. Work engagement: a handbook of essential theory and research. New York, NY: Psychology Press. Price, A., 2011. Human Resource Management. 4th edition ed. South Western : Cengage Learning. Robison, J., 2010. Disengagement can be really depressing. Gallup Management Journal. Torrington, D., Hall, L. Taylor, S., 2008. Human Resource Management. Pearson Education Limited ed. Harlow : 7th edition. Wellins, R., 2005. Creating a culture for engagement. Workforce Performance Solutions.
Saturday, April 4, 2020
Was Machiavelli Satan Essays - Machiavellianism, The Prince
Was Machiavelli Satan? The Church accused Niccolo Machiavelli of being Satan for writing his book The Prince. Machiavelli completed The Prince in 1513. He wrote it as a gift to Lorenzo Medici, called the Magnificent, ruler of Florence. The political views Machiavelli expressed in his book went against the theology of the Church, specifically the Ten Commandments and the Beatitudes. Machiavelli wrote to gain control of a principality one must be brutal. (I)f you are a prince in possession of a newly acquired state and deem it necessary. . . to annihilate those who can or must attack you. . . . , you must do so to protect your principality. He gave the example of Duke Valentino's slaying of his nobles to maintain order, saying if Valentino had not killed his men, Valentino would have lost power. The Bible strongly forbids the killing of anyone. The Sixth Commandment states You shall not murder. In what is known as the Beatitudes, from Jesus' Sermon on the Mount, the Bible also says those who are meek shall inherit the earth. A meek person certainly does not kill others for standing in his or her way like Machiavelli is suggesting to be done. Another verse from the Beatitudes says those who are peacemakers will be called sons of God. Peacemakers do not kill either. For Machiavelli to say if killing a person is for the betterment of your principality, then to do so went against God's rule and the Church's. True followers of the Church abide by the Church beliefs, because if you are not for God, you are for Satan. As a ruler a prince must make certain pledges and steadfast promises; however, Machiavelli reasons that a prince does not have to keep his word all the time. The prince can pledge one thing under certain circumstances; but if those circumstances change, he is free to change his pledge if the change should benefit his situation. For instance, Pope Alexander VI, who reigned before Machiavelli wrote The Prince, made promises more persuasively or swore to them more solemnly and kept so few of them . . . . Pope Alexander VI also got what he wanted by deceiving others. The Beatitudes say those who desire righteousness will be filled; those who are pure of heart will see God. Righteousness and purity do not occur through deception. The ninth of the Ten Commandments says You shall not give false testimony against your neighbor, meaning do not lie. Matthew, the first book of the New Testament, says Do no break your oath . . . . The Church had good reason to disagree with Machiavelli about cra ftiness. Nobility for princes can be seen as one of two ways: generous or parsimonious. If a prince is generous, his generosity usually comes at the expense of his subjects. The prince would have to tax his people heavily in order to give. This will begin to make him odious to his subjects and . . . will lose him the respect of everyone. For a prince to give money, he need not tax his people, rather give what he pillaged and stole while on various campaigns. If a prince is stingy with the peoples money, he will not tax as much; thus, his subjects will honor him more. The teachings of the Church and the Bible promote generosity, and remark that keeping one's wealth to oneself will lead to self destruction, Hell. The teachings likewise include You shall not steal. Although his ideas were contrary to those of the Church and of the Bible, Machiavelli can not be compared with Satan. He was promoting the survival of a principality at any cost. He said a prince will find things which, though seeming good, will lead to his ruin if pursued, and others which, though seeming evil, will result in his safety and well-being. Machiavelli also said that if a ruler gains control by cruelty and wickedness the ruler is without virtue, and he cannot be compared to men of good character. He does not condone this type of behavior, he merely contends it is necessary to exist as a prince. Various people in the Bible killed others. One of
Sunday, March 8, 2020
Marxist Criticism and Christian Perspective of Macbeth
Marxist Criticism and Christian Perspective of Macbeth It is clear from an analysis of Macbeth that it embodies aspects of the dominant ideology at the time that it was written. The play acts as propaganda for a monarchial leadership and therefore a marxist criticism of the play should be looked at. As the essential meaning of any text is ultimately dependent on the responder, a look at a second reading of a Christian perspective, with itÃâs views on natural order, gives a more holistic view and deeper understanding to the play.At the time that Shakespeare wrote Macbeth(approximately 1603-1606) England was an absolute monarchy with King James I in power. There were clear social classes and everyone stayed in their place. The rich benefited and the poor suffered. ShakespeareÃâs plays were directly funded by the king. This appears to have influenced Shakespeare a lot when he wrote Macbeth as there is a clear underlying message of support for the king and a monarchial system in the play.Ellen Terry as Lady Macbeth by John Singer Sarge nt...
Friday, February 21, 2020
The growth diagnostic on Tunisia Assignment Example | Topics and Well Written Essays - 4000 words
The growth diagnostic on Tunisia - Assignment Example In the end of 1987, Bourguiba was replaced by Zine el Abidine Ben Ali as the president, he had a smooth time in his government until December 2010 when nationwide protests started over the issues of high rate of unemployment, corruption by the government officials, increasing poverty and increased prices of edibles and fruits and this protest aggravated in janââ¬â¢2011 which resulted in the killing of hundreds of people. Ben Ali dismissed the government on 14th January 2011 and he left the country on the same day and by the end of Janââ¬â¢2011, the Prime Minister of the country announced that a National Unity Government will be formed and he announced Fouad Mââ¬â¢Bazaa as the president of Tunisia for the interim period. Geography: It is situated in Northern Africa and it is surrounded by the Mediterranean Sea and it is present between Algeria and Libya. On the world map, its geographical coordinates are 34 00 N, 9 00 E. total area of Tunisia is about 163,610 square kilometer s which is comparatively larger than Georgia. It shares international boundaries with Libya and Algeria and the span of these boundaries is 459 km and 965 km respectively. Its Coastline spans about 1,148km. Climate of Tunisia is quite variable as in the northern region of the country, the winters are mild and rainy but the summers are dry and warm and in the southern region of the country, there is desert. Tunisia is a blend of hilly regions in the north and there are hot and dry plains and also the semiarid area of southern region of the country which joins the Sahara Desert. Tunisia has a lots of natural resources including petroleum, phosphates and metals like iron ore, lead and zinc. About 17% of the land of this country is used for agricultural proposes. The disposal of toxic and waste material is ineffective and poses a serious risk to the health of the community living in there. Other potential natural hazards include the pollution of the drinking water with the sewage and th ere are limited amount of fresh water reservoirs, there is a trend towards increase deforestation as well as soil erosion which results into the desertification of the country. Tunisia holds the strategic location in the central portion of the Mediterranean; nowadays, Malta and Tunisia are having mutual talks to make use of the continental shelf between the two countries especially for the exploration of natural resources like Oil. People of Tunisia: The population of Tunisia will be about 10.6 Million in July 2011 and it is 78th biggest country population wise of the world. About 70% of this population is of the productive age i.e. from 15-64 years, the population growth rate of the country will be 0.978% in 2011. The birth rate is 17.4 births/1,000 population and the death rate is 5.83 deaths per 1000 population. Urban population constitutes about 67% of the total population with 1.5% annual rate of urbanization, the major city of Tunisia is its Capital that is Tunis and its popul ation was about 759,000 in 2009. Infant mortality rate of Tunisia is around 26 deaths among every 1000 live births and the life expectancy at birth is about 75 years. As AIDS is quite a prevalent disease in Africa so for information proposes the adult prevalence of AIDS is less than 0.1% in 2009 and the total number of AIDS patients in Tunisia are about
Wednesday, February 5, 2020
To Pledge or not to Pledge Research Paper Example | Topics and Well Written Essays - 1500 words
To Pledge or not to Pledge - Research Paper Example According to Nelson (2012), the enduring significance of the Nightingale Pledge may be attributed to the legacy of the first nursing icon, Florence Nightingale, in her unwavering dedication to cater the needs of the sick and needy, particularly during difficult times, such as war, famine, disease, and natural calamities (pp. 10-11). Considering the eminent influence of the Nightingale Pledge on a nurseââ¬â¢s life, this paper attempts to uncover the underlying historical significance of the said pledge. Further, this paper also attempts to study the various contexts of the Pledge, especially its functions, purpose, ethical significance, limitations, and criticisms. Historical Role As a profession, nursing is deeply rooted in the society due to its outward protection of the rights of humans, particularly in their rights to life and well-being. In fact, Fagermoen (2005) states that the philosophical foundations of nursing are based on the principles of Humanism wherein nurses, even i n their early not standardized practice, aim to protect, serve, and preserve human life (p. 157). Florence Nightingale embodies those humanistic values in her devotion to tend the wounded soldiers of the Crimean War, and, while alleviating the physical conditions of the soldiers, she also attempts to advance the care systems and psychosocial environment of hospitals so as to make those more conducive to a faster healing process (Fagermoen, 2005, p. 157). During her tenure as a military nurse, she wrote a series of nursing books and notes outlining the basic responsibilities and duties of a nurse, which, in later years, became the theoretical and practical foundations of professional nursing (Kim, 2005, p. 1). The life and works of Florence Nightingale gave birth to the nursing profession, a profession that overcomes barriers of time, place, culture, and religion. For instance, although her works influenced the nursing profession, Florence Nightingale was not the one who wrote the Ni ghtingale Pledge; instead, the pledge was authored by Lystra Gretter, an American nurse (ââ¬Å"The Nightingale Pledge,â⬠n.d.). The pledge was first professed by the 1893 nursing graduates of Detroitââ¬â¢s Harperââ¬â¢s Hospital. Nightingaleââ¬â¢s legacy even reached in Japan during the outbreak of the war in 1945 wherein a head nurse in Hiroshima Army Red Cross initiated the recitation of the Nightingale Pledge to restore calm and order in the panic-stricken hospital due to the defeat and surrender of the Japanese militia. Nursing stories around the world relate to the Nightingale Pledge wherein most, if not all, nurses find self-satisfaction in their work through saving the lives of others. Function and Purpose In analyzing the Nightingale Pledge, one can infer that the pledge functions as an ethical guide for nurses in their professional practice while it also aims to indicate the roles, obligations, and limitations of being a nurse. For instance, although the Night ingale Pledge undergoes several legislative revisions and amendments due to socio-cultural concerns, the revised and amended versions of the pledge still maintains the universal nursing standard of conduct, which includes professionalism (ââ¬Å"The Code of Ethics,â⬠2010, p. xiv). For instance, some of the revisions include the ANA 1950 Code and the 1976 Code; each of which outlines the recommended nurse-patient relationship, which is primarily on a professional level. For instance, the prevailing idea of the revised editions delves on a
Tuesday, January 28, 2020
Expatriation, expenses, advantages and disadvantages
Expatriation, expenses, advantages and disadvantages Expatriation, the practice of sending home country managers to other country locations, is a popular, albeit expensive practice among multinational corporations. Expatriates are charged with facilitating the bidirectional flow of knowledge and resources between company headquarters and overseas subsidiaries. Typically, the company expects its expatriate managers to infuse company philosophy into the local subsidiary, as well as to impose policies and procedures consistent with headquarter operations. They are often responsible for the movement of financial resources, whether this be physical capital or the ability to tap local debt and equity markets. They bring with them managerial as well as technical expertise, functional capabilities, or the training necessary to develop these among the local personnel, and structural and control systems. Among these are appraisal systems and motivational tools and incentives. Either while on assignment or upon repatriation, the expatriate should be able to share information with the parent company regarding local infrastructure, such as roads, housing conditions, and transportation systems. In addition, knowledge regarding the political climate, negotiating techniques, host government concerns, and consumer preferences is passed on to the parent. Finally, expatriates should learn a great deal about business practices specific to the regions where they have been assigned, including holidays and observances, accepted business attire, and the appropriate ways to communicate and socialize with co-workers and locals in general. Background: Given the rapid rise in the internationalization of markets, competition, and technology, expatriatesââ¬âand in particular long-term expatriatesââ¬âcan provide much of the value-creation opportunities global firms are seeking. But as the numbers of assignments increases, along with their annual cost by some estimates, two-to-four times the individuals base salary, there is need to assure such assignments are being effectively utilized in achieving Companys strategic goals. Only 57 percent of the global firms responding to a 2005 survey by GMAC Relocation Services perceived their return on investment (ROI) in expatriates to be ââ¬Å"goodâ⬠or ââ¬Å"excellent,â⬠with only 43 percent indicating they had specific programs in place to improve it. Other surveys show that up to 85 percent of managers do not even attempt to demonstrate the ROI of long-term international assignments, nor do they measure it. Thus, expatriate ROI appears to be, not only rarely calculated among global firms but also not widely used as a tool to reduce expatriate costs, despite a growing economic environment of global uncertainty, cost cutting, and risk. Introduction: This report is designed to investigate effectiveness of expatriate remuneration in a multinational organization. For this purpose I have chosen ICI, as this company is operating in many European as well as Asian countries and still in continuation of expanding its operations. Goals for the expatriates in ICI, with the study carried to analyse the effectiveness in achieving those targets are featured in this small study. This study will examine how the expats are remunerated and what bases are used in doing so, furthermore basis opted for rewards system. Others matters considered alongside are considerations for the costs of family residency, insurances, childrens education, properties, and other expenses; including incentives. Gains and nuisances of the expats are issued for the consideration from expats points of view. Moreover explanation of the research methodology coupled with justification for the research is complied in. Due to the nature of the topic, secondary sources of information are used as the primary sources were difficult and time consuming. ICI has many expatriates around the world in various countries of different continents, which includes Asia, Europe- as required by its diverse operations. Sending expatriates on long term assignments is complicated as it triggers diverse needs (i.e. social needs, ethical issues, religions, family commitments and backgrounds, etc). Therefore on one side selecting, enticing, and retaining expatriate staff for long duration of their foreign assignment and on the other designing rewards system for such complex and diverse roles adds difficulties for the organization. Aim and Objectives: This study aims to investigate the effectiveness of expatriate remuneration at ICI. In order to achieve this aim, the following objectives have been set: * Develop a model for measuring expatriate remuneration. * To assess the current expatriate remuneration for ICI. * To conduct fieldwork and collect data on the effectiveness, ethics, etc. * Analyse the results of the fieldwork and present the results of the investigation. Model for measuring Expatriates Remuneration A large studies conducted by the researchers concluded that only 51 out of many global firms participating in the study desired to obtain an acceptable ROI from their expatriates. ROI determinations should also include nonfinancial costs and benefits in order to capture the long-term, post assignment benefitsââ¬â such as skills transfer, global leadership capabilities, succession readiness, and other talent management objectives. McNulty and Tharenou have defined expatriate ROI as ââ¬Å"a calculation in which the financial and nonfinancial benefits to the firm are compared with the financial and nonfinancial costs of the international assignment, as appropriate to the assignments purpose.â⬠This definition implies two important conditions: * Managers must know the intent for using expatriatesââ¬âhow the purpose of an international assignment is linked to a firms overall global strategyââ¬âin order to then track the benefits and costs. * Managers must include both tangibles and intangibles when calculating and comparing costs and benefits. Accurate rates of return are then more likely to be determined when the benefits are compared with the costs, even if a cost is financial (e.g., the cost of cross-cultural training) and the corresponding benefit is nonfinancial (e.g., the benefit of improved performance). In turn, these conditions imply a robust system for creating, approving, documenting, tracking, and evaluating international assignments. Assessment the current expatriate remuneration for ICI During the course of my study I focused my study plan on remuneration of 10 Individuals designated as expatriates with a responsibility of transferring ICI system IT-based skills to other subsidiaries/ offices located across the regions. The individuals selected were salaried Approx. around à £ 4,000 per month during course of their normal office routine work. When and as employee designated as expat, a separate remuneration model was designed for each keeping in view the following * Working hours * Job specifications * Number of travels/locations to different sites * Period for which the expat assigned for the special assignment The model devised without considering as exception circumstances is illustrated below * If the expat tenure for the special assignment is for a period covering more than 2 years, the expat is allowed to take is family (wife and children) along, at his discretion. The salary package of the said expat will be 180% of his gross salary during this tenure. * If the expat tenure for the special assignment is for a period less than 2 years, the expat is not allowed to take is family at COs expense. However he will be allowed to claim return air tickets thrice a year with 20 days paid leaves and will be remunerated at 140% of his original gross salary. * All the medical and other facilities entitled to the employees during routine office duty shall retain and other expenditure related to the business such as travelling, out of pocket expenses shall be reimbursed to the employees. Problems faced by expatriate while implementing head office system/ rules * Expatriates were charged with either learning the host language or communicating through gestures or other non-verbal methods, or they may invoke the services of translators or interpreters * Psychological types of strains, including the negative psychological reactions of anxiety, anger, and frustration when not been able to deliver or transfer knowledge due to national/ regional differences. * Relationship between sociability and cross-cultural adjustment makes them feel alienated. * Understanding of the values and norms of the local nationals was hard to follow and observe. à · Patience was required to build the relationships and the trust. Fieldwork and Ethics Issues Meeting the Senior Manager Finance Manager during their valuable busy working hours and requesting them to give some guideline by providing knowledge about the Expats and the remuneration model designed for the assignments. Moreover during discussion session with the managers, I insisted on asking more details and insights that were not available documented, for which the senior manager was hesitant of doing so, as in their opinion certain information was very sensitive and arise tax sensitive issues. The analysis also involved use of companys IT resources like internet, desktop and other ancillary equipments. Moreover in gathering information about my research/field work I had to make certain quality compromises, as the information was not readily available and the management was hesitant over concerns regarding its secrecy. Following is the data gathered and analysed of the employees during their services as expats. Name of the Employee/Expat ID # Gross Salary Special Assignment Allotment Salary for m/o Dec ââ¬Ë09 Medical Travel plus Misc Total John Desusa 345 3,500 140% 4,900 100 450 5,450 Ali Kirmani 6576 3,000 140% 4,200 1,110 367 5,677 Patric Mandela 356 4,000 140% 5,600 521 1,200 7,321 Keith Ronaldo 6787 5,000 140% 7,000 124 290 7,414 John Ferry 754 4,000 180% 7,200 413 300 7,913 Harban Bhaveja 7564 4,500 180% 8,100 20 394 8,514 Research Methodology: Data are analysed through primary and secondary data research. This is where financial value i.e. quantitative data or the brand image i.e. qualitative data for ICI will be inspected in those countries where expats are doing the work. This will be done by individual countries examination of customer base and/or business base; depending on what expats have been sent for and what is meant to be achieved there. Knowledge of all countries is brought together for expats as well as all costs incurred; are part of this study. It has complete similarities and differences within this duration of expatriation. These include currency evaluations differences in other countries and the amount that has been spent in those countries is worth the effort. However, this should mean that the expats are giving identical efficiency level as they would have while being in the UK in the away country depending on the targets being given. In most cases, ICI gives a smaller pay due to the economy being down. However, still pays well even after slump where GBP is strong. Data Collection Methods: Due to the nature of the topic, both primary and secondary sources equally provided appropriate and valuable information. Although using the former source was difficult and time consuming. Primary Source An interview was held with Mr. Zawan Navade Senior Finance Manager ICI. The primary purpose of this interview was to assess the potential benefits expats providing to the Organisation with the cost being incurred. Moreover, a meeting was arranged with the Human Resource Manager to gain information regarding the design of the remuneration packages related to the potential benefits to the entity. Secondary Sources These consisted of the following * Payroll Sheets * Documented Reward system * Special assignment contracts Limitations: Financial data by itself may not be sufficient for the purpose of my research work, therefore expert input from Companys senior executives was required but most of the information in my research report is secondary as I was not able to directly approach the companies executive all the time and have limited use of their valuable time due to their tight official schedules and their reservations.
Subscribe to:
Posts (Atom)