Recommendation and Rationale
After a comprehensive analysis of the alternative solutions discussed chapter two, it can be recommended that three of them are the best approach that Yahoo and other companies facing similar challenges can apply in their systems. This is because these solution methods are dynamics and involves a lot of emphasis on the quality of the human resource that will eventually impact positively to the company. They include the following;
Human resource strategy
First is employee satisfaction (Allen et al., 2003) Employee satisfaction or what can be termed as the customer fulfillment is the phrasing used to portray whether workers are upbeat and mollified and satisfying their yearnings and requirements at work. Many measures indicate that representative satisfaction is a consider worker inspiration, worker objective accomplishment, and positive worker confidence in the working environment. Worker fulfillment, while by and large a positive in your association, can likewise turn into a killjoy if average representatives stay since they are fulfilled and content with your workplace. Components adding to representative fulfillment incorporate approaching workers with deference, giving general representative acknowledgment, enabling representatives, offering above industry-normal advantages and remuneration, providing worker lives and organization exercises, and positive administration inside a winning system of objectives, estimations, and desires (Azis et al., 2013). The basic element of worker fulfillment is that fulfilled representatives must carry out the occupation and make the commitments that the business needs. If they don't, all that the business does to give a situation that fulfills representatives is to no end. Satisfied employees give their best when it comes to production and management (Allen et al., 2003). Therefore, by ensuring that the employees are fulfilled regarding their salaries, safety, and health, the company is assured of good and cheap production techniques that will generate quality products. These products can compete favorably with similar products in the market and generate high income for the organization (Allen et al., 2003). The management can also benefit because the employees will be willing to share the loopholes in the management and help in the possible way to improve on the same. In so doing, the business will be able to carry out its processes easily and generates more income by making more sales (Azis et al., 2013).
Secondly, strategic partnership is also a good approach that companies like Yahoo can use to better their performance (Allen et al., 2003). Collaboration with others firms has a lot of benefits to the organization since it encourages the group to work smart and chose its line of operation based on the market trends and customer needs. In so doing, the business can make more sales and improve its profit margin (Jose & Mampilly, 2012). The first benefit of the strategic partnership is extensive market coverage. By partnering with other firms or taking control of other similar business in the industry can allow Yahoo to access some parts of the market that it did not have access in previously. With wider market coverage, the business will be able to make more sales and increase it a profit margin. Secondly, the business will have a broad capital base (Allen et al., 2003). The two companies will combine their sources of finance, current and fixed assets together and forma broad base of capital that they can then use to finance their operations. Good capital will also allow the organization to pay its employees promptly and this will encourage their performance. Next, Yahoo will be able to have wide access to qualified and skilled personnel (Jose & Mampilly, 2012). The partnership will create a strong base for the two firms to allow them to have access to more talent because they will be able to pay for their salaries and allowances at the correct time. With this kind of staff, the company will then be able to produce more quality products and sell them to the public and make more profit. Lastly, the combined efforts of the two or more companies will ensure quality and fast decision making especially on the issues that directly affect the operation of the production processes and the productivity of the employees (Jose & Mampilly, 2012).
Lastly, Yahoo can also use the payroll policy (Jose & Mampilly, 2012). By ensuring that the employees are paid their dues promptly, and at the correct amount then they will be more than willing to stay in the company and use their skills to ensure that the company produces high-quality products that it can sell at high rates and make more sales to improve on the profit, income and revenue margin (Batt, 2002). This, therefore, requires the company to come up with a suitable mechanism that it can use to determine the wage rate for all its employees and ensure that all of them are satisfied. At the same time, the company should ensure that the wage rate is not too high that it will affect its performance in the long run (Batt, 2002).
Strategic human resource management
This section provides some of the methods that can be used to evaluate the performance of the recommended alternative solution above. It can be done using the short-term and the long-term performance benchmarks that will show if the results are on the positive or negative deviation.
Short-term performance benchmarks
i. Profit, income and revenue margin- solutions like good payroll, high turnover and employee satisfaction have direct link with the income that will be generated by the human resource department of the company. It involves determining the growth of income, revenue and profits of the company for a stipulated period, say six months (Batt, 2002). Typically the income or profits generated by the firm states the performance of the company in the industry. When a company continuously makes profits and high income, then it must be performing well. It also means that the employees have accepted and appreciated the changes recommended by the human resource department and therefore have increased their productivity. (Batt, 2002). The alternative solutions will therefore impact positively in the development of the company.
ii. The quality of products- high-quality products shows that the company is making progress while low-quality products show the reverse (Batt, 2002). For a company like Yahoo to produce quality products then it possible that they have considered and factored solutions like good payroll, employee queries and compliance with the government laws that will make their operation smooth and efficient (Batt, 2002). Quality products attract more customers, and the company will be able to increase their sale and make more profits. With good profits and high income, the company can hire and recruit highly trained personnel in its production process (Batt, 2002).
iii. The level of technology-branding, payroll and strategic partnership are alternative solutions that rely so much on the level of technology that the company uses. The efficiency and productivity of the human resource also depends on the level of technology (Allen et al., 2003). That is to say, if a company uses a low level of technology, the productivity of the human resource will also be low and this will mean that the solutions recommended may not have impacted positively on the performance of the company (Allen et al., 2003). Therefore the level of technology is part of the assessment of the performance of the recommended alternative solutions.
iv. Market coverage-employees satisfaction, compliance and strategic partnership are solution approaches that can assist the company to cover a wider market (Need, 2006). The human resource can therefore use these approaches to assess their performance. If within a short period the company can attract more customers to use its products and cover a wider market compared to the previous one, then this is a clear indication that the recommended solutions are doing well for the company. However, it the market coverage remains the same or reduces then the answers are not favorable for the company and therefore it should seek other alternatives (Need, 2006).
Long- term benchmarks
i. The size of employees- employee satisfaction, employee queries, high payroll and good turnover provide the base solutions that when a company applies in its operations then the size of the personnel and consequently the size of the human resource department is likely to expand. The size of employees determines the level of production for any company (Allen et al., 2003). Therefore, it a company has been able to increase its number of employees then it means that the company has also strengthened its rate of production. This therefore means that alternative solutions are of benefit to the company (Allen et al., 2003).
ii. The size of the company- solutions like compliance and partnership has direct links with the size of the company. To assess if the company is expanding, the solutions should be accepted positively by the human resource department of the company. Size, in this case, refers to floor coverage or branches of the enterprise (Armstrong & Taylor, 2014). When a company is doing well, it is likely to increase its branches to cover a wider market that will allow it to make hire and recruit more employees. However, when the number of branches of a company decreases or remains constant, the company is not doing does well and it should, therefore, adopt new methods or solutions (Armstrong & Taylor, 2014).
iii. Capital base- good turnover, branding and compliance are solutions that can be used to determine the capital base of the company (Armstrong & Taylor, 2014). The human resource uses these solutions to control the flow of capital in and out of the company. Thus, capital base can the size of the company, is also determined by is a level of capital. Larger companies have a wider capital base (Armstrong & Taylor, 2014). Therefore, if a company moves from being a small company to being a company with the capital base, then it can be argued that the alternative solutions are favorable for it (Armstrong & Taylor, 2014). On the other hand, if the capital base of the company remains constant or reduces then the alternatives are not beneficial for the company, and it should, therefore, seek other methods (Jose & Mampilly, 2012).
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Armstrong, M., & Taylor, S. (2014). Armstrong's handbook of human resource management practice. Kogan Page Publishers.
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