People management practices at Pound-Co Finance

People management practices at Pound-Co Finance

Background

Image result for british moneyPound-Co Finance is a successful finance company which has evolved over the last 10 years. It started in 2006 through the merger of 2 smaller companies which were individually owned by separate entrepreneurs. The business operates in what is known as the non-standard market where it may charge higher rates but also takes more risks on the customers it lends to. Typically these customers will have a poor credit history, may have been bankrupt or have county court judgements against them and may be paid weekly or fortnightly.

 

As a result of this however, the organisation was not overly affected by the credit crunch in 2008 as mainstream lenders were and the company has continued to grow since then. The company’s mission statement today reads as follows;

 

Our mission is to be the leading specialist lender in our chosen markets, acting responsibly in all our relationships, and playing a positive role in the communities we serve. 

 

To support this mission the organisation has a set of values which are known as FRED;

·         Fair

·         Responsible

·         Environmentally conscious

·         Dedicated to providing excellent service

 

The organisation understands its market, however limited this might appear. However, there is still uncertainty surrounding the economy and mainstream lenders unsure what the vote to leave the EU will bring. Pound-Co is in a good position as more and more people are turning to them as high street banks are reluctant to lend. The board of directors recently declared their objectives as;

 

To have two million customers and make £20million profit in the next five years.

Your brief

Your task is to write a report of 5,000 words in which you critically evaluate the people management practices of Pound-Co. Your report must have practical implications but should also rely on academic literature to support your arguments. A list of all references should be provided at the end of your report using the APA6th style of referencing.

Specifically you should;

·         Provide an overview of the organisation in terms of industry, size, sector, history and any other relevant background information. (Approx 200 words).

 

·         Critically examine the notion of HRM as a strategic force at Pound-Co. Explain your answer with reference to models of HR which are used or could be used. (Approx 1,000 words).

 

§  Make reference to models of HR which are used or could be used

§  Discuss the nature of alignment between HR strategy and Organisational strategy

 

·         Critically evaluate the talent management practices which take place and consider the impact they have on achievement of the overall strategic goals of the organisation. Here you should consider; (Approx 3,000 words).

 

§  Recruitment and selection, consider;

§  How recruitment take place

§  Whether this method aligns to the strategic objectives of the organisation

§  Whether current selection methods are working

 

§  Performance management, consider;

§  The nature of performance management and especially appraisals

§  The output from appraisal meetings

 

§  Learning and development, consider;

§  How learning needs are identified

§  How training is evaluated

§  Whether transfer of training occurs

 

·         Highlight your overall conclusions. (Approx 300 words).

 

·         Make recommendations based on your conclusions and provide suitable indications of cost and resource implications for any changes you suggest. (Approx 500 words).

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