Forbes HR Practices Case Analysis
Introduction
The case is about Forbes Marshall which is one of the fourth generations family owned business who was founded as a trading company by J.N. Marsahall in 1925. However, the company then moved into a building steam engineering and control instrumentation solution for process industry. Currently, it is one of the leading companies that have collaborations with the world leading technology leaders in the manufacturing operations. The company has wide and strong market place in national and international market while having turnover of 7.5 billion.
The organization has over 2,000 associates (i-e direct and indirect associates) as well as it have around over 1000 engineers in the organization as a workforce while the organization is known for its qualitative operations and the multigenerational workforce that include boomers, Gen Y and Gen X. Although the company have wide range of market while having profitable market place in the market as compared to the other organizations.
Problem Statement
The organization has over 2,000 associates (i-e direct and indirect associates) as well as it have around over 1000 engineers in the organization as a workforce. One of the 4% of family-owned businesses in its fourth generation is Forbes. This case study investigates the unique personnel practices that set Forbes apart from the competition.
Critical Analysis
SWOT Analysis
The name stands for strength, weakness, opportunities and threat. This model is a tool used in corporate planning to evaluate how a company lines up against its rivals.(Teoli, D., 2019).
Strengths
- Forbes Marshall, which is rated Eleventh in the Best workplaces 2011 poll, is among seven unionized companies to appear in the top 50.
- In the manufacturing sector, their Union’s participation and involvement in talent development programs is exceptional.
- The company retains a good brand identity and has a broad geographic reach and clientele.
- Businesses are able to maintain a solid market position and increase customer satisfaction thanks to their focus on ongoing product innovation.
- Due to its firm concept, which focuses on providing children with a safe schooling and learning environment through collaborating with schools, professional networks, and teachers, the business had been fairly successful in winning over parents’ preferences and was heavily relied upon.
Weaknesses
- The organization’s ability to grow both domestically and also internationally is restricted by a lack of funds and opportunities.
- When the second or third competency examination was finished, HR discovered that individuals had not mastered the abilities. The causes could be due to poor training, imprecise training objectives, or even the trainer’s substandard handling of the material.
- A study on the organization’s engagement survey found a lack of sufficient communication. Consequently, channels of communication for the ethnically and racially diverse workforce were established.
Opportunities
- For the past twenty years, Forbes has retained a 20% female employment ratio. As per statistics from 2006, there are 19 percent more women working in the organized sector than there are in production.
- Being a pioneer in processing efficiency and energy saving for the process sector, what distinguishes them is how innovation is crucial to providing their clients with high-quality goods and services.
- In keeping with its commitment to maintaining transparency and accountability in all of its operations, Forbes has established a number of channels for responses, such as employee engagement surveys, job satisfaction surveys, client satisfaction surveys.
Threats
- Forbes In addition to the quickly changing industry trends and client preferences, is up against fierce competition from both domestic and international rivals. This could cause organization to lose their identity as a powerful brand and important participant.
- The company faces a higher danger of several competitors copying its organizational structure. The company’s business strategy is its key competence and the primary driver of success.
David Ulrich HR model
Large, customer-oriented businesses all over the globe employ this model to increase the effectiveness and efficiency of their HR divisions. This model helps to organize duties and responsibilities among HR department by identifying which is in charge of the crucial duties that support the efficient operations of the firm.(Азамов, 2020)
Strategic partners
These partners have strongly focus on integrating Programs and operation with strategic plan. The partner promotes systemic thinking which is customer-oriented while aligning strategies with businesses outputs. Most internal employees of the company interact with the HR through strategic HR. Forbes has established several mediums of feedback, including worker engagement polls, employee satisfaction polls, and customer satisfaction polls addressing a range of topics.
Change agent
The role of a change agent involves assisting companies with change and transformation while putting a strong emphasis on their personnel resources. It provides a thorough understanding of organizational cultures to bring change. The organization did the same. Employee development at Forbes Marshall is viewed from a competence – based approach. It was quite difficult to implement the Competency Mapping exercise. It involved everyone, even the workers on the shop floor. They repeated the intervening procedure while also communicating that the goal was more to support employees’ professional development than to profit the organization….
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