human resource policies
Deakin University
MPM722 Assignment 1 – HR Strategies of KFC in Talent management of staff
Lecturer’s Name: John Molineux
Name: Priyanka Karunakaran, Tej Pratap Singh, Sahil Parikh
Student ID: 212378619, 211808536, 212252039
Word Count: 4865
Table of Contents
Sr. No. Topic Page No.
1. Executive Summary 2
2. Introduction 3
3. Overview of KFC HR Management 4
4. Literature Review: Talent and Reward Management in HR 6
5. Identified best practices or issues at KFC 10
6. Discussion and Analysis 13
7. Conclusion 15
8. References 16
Executive Summary
This research paper examines the talent and reward management aspect of human resource management in KFC and discusses whether the existing policies are helpful in achieving organisational goals. This report draws an extensive research about the various human resources policies that are practiced and implemented at KFC, Australia. It highlights the competitive advantage that KFC garners over its competition because of the existence of these human resource policies. Further, there has been an attempt to make recommendations to improve HRM within KFC management to potentially improve resourcefulness within organisation under consideration.
Introduction
“Talent management is a deliberate and ongoing process that systematically identifies, assesses, develops and retains talent to meet current and future business needs and objectives” – Ernst and Young 2009
One of the most important steps in talent management is to find the right people with the suitable skill sets to fill up the right positions at the right time.
Once the talent is managed successfully, it is essential to set up a system of reward management to ensure that the suitable and ideal employees are retained within the organisation and their talent is nurtured to the utmost level.
MPM722 Assignment 1 – HR Strategies of KFC in Talent management of staff
Lecturer’s Name: John Molineux
Name: Priyanka Karunakaran, Tej Pratap Singh, Sahil Parikh
Student ID: 212378619, 211808536, 212252039
Word Count: 4865
Table of Contents
Sr. No. Topic Page No.
1. Executive Summary 2
2. Introduction 3
3. Overview of KFC HR Management 4
4. Literature Review: Talent and Reward Management in HR 6
5. Identified best practices or issues at KFC 10
6. Discussion and Analysis 13
7. Conclusion 15
8. References 16
Executive Summary
This research paper examines the talent and reward management aspect of human resource management in KFC and discusses whether the existing policies are helpful in achieving organisational goals. This report draws an extensive research about the various human resources policies that are practiced and implemented at KFC, Australia. It highlights the competitive advantage that KFC garners over its competition because of the existence of these human resource policies. Further, there has been an attempt to make recommendations to improve HRM within KFC management to potentially improve resourcefulness within organisation under consideration.
Introduction
“Talent management is a deliberate and ongoing process that systematically identifies, assesses, develops and retains talent to meet current and future business needs and objectives” – Ernst and Young 2009
One of the most important steps in talent management is to find the right people with the suitable skill sets to fill up the right positions at the right time.
Once the talent is managed successfully, it is essential to set up a system of reward management to ensure that the suitable and ideal employees are retained within the organisation and their talent is nurtured to the utmost level.
References: Baron, A. and Armstrong, M. (2007) Human Capital Management: Achieving Added Value Through People, London: Kogan Page. Collings, D Collings, D. G., McDonnell, A., Gunnigle, A. and Lavelle, J. (2010) “Swimming against the Tide: Outward Staffing Flows from Multinational Subsidiaries”, Human Resource Management (US), Vol. 49, No. 4, pp. 575–598. Financial Review, 2012, 'KFC: Human Resources to meet emerging business needs - Developing a strong company culture ', retreived on 4 January 2014, HR portal, 2012, ‘KFC – A Formula for success’, retrieved on 3 January 2014 McDonnell, A., Stanton, P Pfeffer, J, 1994, 'Competative advantage through people: Unleashing the power of the work force ', Howard Business School Press. Talent management – Managing talent from the danger zone to the value zone, Ernst & Young, EYGM Limited, 2009. Wei, L, 2010, 'Literature Review of Strategic Human Resource Management ', Tian Jin University of Finance and Economics, retreived on 5 January 2014, Yum.com, About Yum! Brands, 2012, retrieved on 6th August 2012,