The Human Resources And Management At Samsung
The Human resources and management are and always going to be one of the major section or places of the company. Moreover, giving solution, strategies, analysis, staffing, organization and utilization of employees are role of the Human resources and management. The aim of this research paper is to find the strategy and practices of Human Resource Strategy and Performance, Developing Compensation Plans and Personnel Planning and Recruiting of the company SAMSUNG. Furthermore, the research starts first by select the enterprise, briefly describe the company like a heads up, describe the policies and the practices of that particular company Samsung, the effectiveness of the chosen themes and what are the findings. Thus, in total the introduction, description of the enterprise policies, enterprise practices, analysis and finally the conclusion. Samsung is one the largest technological company in the world with a Korean root, founded in 1938 in Taegu, Korea. Samsung has big investment in almost all electronic items such as mobile phones, television, cars, computer and so on, moreover, it is by that having a large management and enterprises that control all that.
Furthermore, the reason of choosing this particular company is because it easier to find information about it in term of strategies, management, human resource strategy and performance, developing compensation plans, personnel planning and recruiting. In addition, in this report we will describe the enterprise policies and practices, analyzing the strategies of the company to adapt to the disruptive and competitive business environment and finally the conclusion which contain the overall of the findings. Samsung’s business strategy consists of three pillars or elements namely Effective market readership, scanning and utilizing opportunities in the market, and new product development. A market reader can be described as a business that closely watches the market and is quick to duplicate new products and/or introduce new features to existing products that other companies initially introduced. Specifically, Samsung has shown itself to be successful in replicating the design and essential features of smartphones from its’ main competitor, Apple. It was reported that 'one internal Samsung presentation from 2010 presented Samsung engineers with a step-by-step process to try and steal so much of what made the iPhone such a special product”. The second element, on the other hand, incorporates a relentless quest for current gaps in the market and takes advantage of the opportunity with positive outcomes for the company. Samsung, for instance, found that Asian-language speakers in particular needed a device they could hand-write on, as drawing characters with a pen is simpler.
The result was an unexpected success with the emerging series of Samsung Note phones as a combined phone / tablet (“phablet'). Lastly, Samsung Electronics has a wide range of products covering hundreds of product lines and is divided into three brand divisions: IT & Mobile Communications (IM), Consumer Electronics (CE) and Device Solutions (DS). The multinational electronics company has 36 Research and Development (R&D) centers worldwide to secure the future core technology and invested KRW 14,8488 trillion in R&D in 2015. Since 2006, Samsung has been the second largest patent holder in the United States. Accordingly, as one of Samsung's strong competitive advantage, new product development capabilities have been firmly established. Human Resource Strategy and Performance At Samsung Electronics, they continue dedicating their human resources and technology to producing superior products and services, ultimately leading to a better global society. The company, in order to reach its full potential and the three-pillared business strategy they employ various human resource strategies such as enhancing professional procurement capabilities by nurturing global procurement experts and leaders and using training facilities dedicated to supplier employees to provide free-of-charge training programs. With this kind of strategies, Samsung becomes closer to their third goal which is new product development and even effective market readership. Moreover, they are more able to adapt to the business environment because of their constant trainings and updating themselves of the changes or improvements in terms of technology. The company values their employees such that they conduct employee satisfaction surveys for monitoring purposes and using other innovative HR practices, they build a creative organizational culture.
Another facet of Samsung’s Human Resource Management is the Samsung Talent Review Session (STar Session). This comprehensive talent development process helps the employees with their supervisors to design their career growth path and benefit from career enhancement programs. Employees can apply for a wide range of human resource development programs in line with their career development phase–MBAs, career training, and job skill training. This talent promotion program is aligned with Samsung's Expertise Development Process (EDP) that is tailored to all the company's staff. Developing Compensation Plans As its main compensation strategy, Samsung Electronics uses salaries. Their approach is flexible and based on fair and transparent evaluation of performance. The compensation plan of Samsung is being updated on changing demands. The business is based on the company's feedback, experience, and quality of its employees. The policy on wages or cash compensation involves minimum wages and incentives. In addition to performance based on wages, the organization also measures the salary of an employee based on firm-specific job experience (the quality employees have gained over time while working at the company) and firm-specific knowledge that could promote promotion. Such a strategy helps keep the company's workers as valued as they are. Reiterating the aforementioned business strategy of Samsung, their fair compensation plans will push the employees to reach them. For several reasons, this policy of compensation is appropriate. Samsung Electronics has control over its compensation costs through the compensation policy. The ease of determining pay ensures this control as the highest remuneration is for top performers. The use of merit as criteria for determining the employee's pay and advancement also helps to create healthy competition among the employees of the company which helps in adapting to the new business environment as it is ever-changing. Moreover, the policy previously described allows the company to achieve a balance between the needs of the employees and the financial objective of the company. The company is also in a position to promote lasting, critical interpersonal networks, employee attachment, and specific knowledge of the company, considering that the salary is also market-oriented and well above minimum wage rates which is important to achieve the business strategies imbibed in the company.
Personnel Planning and Recruiting One of Samsung’s focus on Human Resource Management Strategy is Integrity Management. This branch of Human Resource Management deals heavily on Respecting Global Diversity. This refers to their recruitment style that focuses on hiring global employees within the organization. It can be further described into four facets specifically recruiting and obtaining talent, fair evaluation and compensation, respecting human rights and diversity, and Labor-management cooperation and addressing employee’s grievances. Basically, Samsung is employing talents worldwide. Each foreign employee is given a mentor and has a regular meeting with the executives. Samsung believes and has seen that this kind of diversity, with having global talents, leads to new business ideas which tackles a portion of their three-pillared business strategy. It creates a wider range of ideas and abilities, offering greater scope for innovation and competitive performance. BBC Business News reported that on November 2014, Samsung kicked start the Virtual Reality market. This kind of innovation stemmed from global talents coming together to execute an idea. Moreover, it was recently reported that Samsung had higher profits than Apple in the smartphone industry. Another advantage from Samsung’s strategy in Human Resource is the representative workforce.
Because of their initiative on diversity, their workforce can provide superior service because they can better understand the needs of the customer. The diversity also answers for the gaps in the market that can be seen in multiple lenses, touching again another pillar of their business strategy. In addition, diversity allows for rapid responses and adaptations to change. Overall, Samsung’s goal of hiring a diverse team look to have achieved their aim of sustainable global expansion and new business growth.
Conclusion
Human resources are important in the business world and the strategy it contributes in the different enterprises. The philosophy of Samsung management is to maintain a strong connection with human resources team and the technology department to provide products and services for consumers and to provide wide understanding with their communication skills. The creativity, ideas and critical thinking of people working under Samsung are the major key factors for Samsung to reach worldwide. This research provided understanding how Samsung innovated and had gross-sale within years by Samsung’s devoted employees and strong sustainability.
References
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