PROJECT on Concept of Knowledge Industry

Prepared by :Suchendra Dixit Batch 35

 CONCEPT OF H.R.M :
Human Resource Management(HRM), is a process of bringing people and organization together so that the goals of each are met. It is that part of the management process which is concerned with the management of human resources in an organization. It tries to secure the best from people by winning the whole hearted cooperation... HRM may be defined as the art of procuring, developing and maintaining competent workforce to achieve the goals of an organization in a effective and efficient manner.

Unfortunately, experience suggests the so-called HR Pros have multiple secret relationships and do not deserve outright trust at face-value, in fact and on the contrary one should always be sceptical about these guys. Same for many job consultants, HR agencies or human brokers in this business. Of course there are exceptions, 80/20 as a rule, so kindly do not it personally, if you a HR Pro!

 Objectives of H.R.M

To guide the organization in attaining its goals by providing well trained and competent personnel.

To effectively utilize the available human resources according to the requirements i.e. to employee the knowledge and skills of the employees in attaining organizational goals. Te develops and maintains motivating productive and self respecting working relationship among all the organizational members.
To develop and maintain high morale and cordial relations with in the organization To help to develop and maintain ethical policies and behavior inside and outside the organization

 Functions of H.R.M :

The major functional areas in human resource management are: Planning Staffing

(1) (2)

(3) Employee development

(4) Employee maintenance.

These four areas and their related functions share the common objective of an adequate number of competent employees with the skills, abilities, knowledge, and experience needed for further organizational goals.

 HR Practices for different Organization :

Work Environment A safe and happy workplace makes the employees feel good about being there. Each one is given importance and provided the security that gives them the motivation and incentive to stay. This is usually achieved through internal surveys to find out whether they are satisfied and if not what they think needs to be changed.

Open Management Employees dont like the feeling of being kept in the dark about what is happening in the company. They feel motivated and develop enthusiasm only when the management opens up to them and discusses the company policies, sales, clients, contracts, goals and objectives. This encourages participative management. Asking them for ideas on how to improve will get their creative juices flowing. Being open about everything related to the company will help in building trust and motivating the employees. This open management policy can be practiced using several tools.

Performance Incentives
Every good performance is appreciated in the form of a pat on the back, bonuses or giving some other compensation for a job well done. Organizations that struggle to keep up with the attrition rate are mostly those that think employees are just doing their job. Even if it is the employees job, completion in an appreciable manner calls for an incentive, and this goes a long way in boosting the staff morale. These incentives can be implemented at the individual as well as the team level and it has been seen that this works wonders in getting the best out of the employees. But it is important to keep in mind that these bonuses should not be given without a reason, unless it is a commitment for annual bonuses or some such thing. Doing so will only reduce the perceived value of the bonuses.

Performance Feedback This is one the methods that is being followed by many organizations. Feedback is not only taken from the boss, but also from other seniors and subordinates. Previously, appreciation was only sought from the immediate boss or the management, but now organizations understand the importance of collecting performance feedback from several quarters. The opinion of everyone matters, especially for someone who is in a leadership role at any level. Each person in the team is responsible for giving constructive feedback. This kind of system helps in identifying people who can perform well as leaders at higher levels in the organization. Even the senior level managers can use this system to their advantage, as a tool to improve themselves.

Employee Evaluation Every company has an employee evaluation system in place but a good system links individual performance to the goals and priorities of the organization. This works well when achievements are tracked over an year. For a fair review of each employee, the evaluation, apart from being done by the boss, should be done by another person at a higher level, for whom the employees contribution is important. Ratings can also be obtained by other employees. This ensures a fair and accurate rating of each and every employee.

Sharing of Knowledge

Knowledge sharing is a wonderful strategy that helps in the betterment of the employees and their work. Keep all the knowledgeable information in central databases that can be accessed by each and every employee. For example, if an employee is sent on some training, the knowledge that is acquired by that employee can be stored in these databases for others to learn from it. Even innovative ideas that the management deems fit for employees to see, can be stored here for all to see.

Publicize Good Performances

Every company has some employees who outperform others. Such performances should be highlighted and displayed where other employees can look at them; such as on the display boards and intranet etc. This will encourage others to give their best. A proper system should be set up to make a list of high performances at specific times in a year.

Discussions

Successful organizations nurture ideas and they understand that employees who are actually working and know the business can provide the best ideas. The management should have discussions with employees to get these ideas out of them. There can also be suggestion boxes to capture these ideas. Through this system, managers can find talented employees and develop them.

Rewards

While recognition of talent is highly important, this recognition has to be made public and what better way than holding ceremonies and announcing to the whole world (the employees), the achievements of a fellow employee. There can be nothing better for an employee than the heady feeling from a resounding applause.

The Surprise Factor

Who doesnt like a surprise? Surprise deserving employees when they are least expecting it. It could be a gift certificate or a small reward of some sort. This surprise doesnt have to be limited to the best performers, but it can be randomly given to others as a motivating factor too. Anyone can be given this surprise reward.
Such healthy HR practices encourage the growth of the organization as employees after all play a major role in the well-being of a company. Making an employee feel like a million dollars pays in the form of the success of an organization.

 Concept
Knowledge process outsourcing is a form of outsourcing, in which knowledge-related and information-related work is carried out by workers in a different company or by a subsidiary of the same organization, which may be in the same country or in an offshore location to save cost. Unlike the outsourcing of manufacturing, this typically involves high-value work carried out by highly skilled staff. KPO firms, in addition to providing expertise in the processes themselves, often make many low level business decisionstypically those that are easily undone if they conflict with higherlevel business plans.

KPO Sector in India

 Top Ten K.P.O Industries in India

1. 2.

Genpact Evalueserve

3.
4. 5. 6. 7. 8. 9. 10.

Ugam Solutions
WNS 24/7 Customer ICICI OneSource EXL Service

Copal Partners
Pangea3 TechBooks

 Mission

COPAL PARTNERS :

Their mission is to provide the highest value-added financial research and consulting services to our clients. Their values consist of five reinforcing elements: quality, professionalism, client focus, quantifiable value-add, and personal and team growth.

EVALUESERVE :

Evalueserve is a global specialist in knowledge processes with a team of more than 2,600 professionals worldwide. As a trusted partner, They analyze, improve, and execute information-laden work streams. They leverage their proven methodologies and proprietary technologies. They enhance productivity and capabilities to give their clients an edge in the market.

 Key People Of Company :

Copal Partners Rishi Khosla - CEO Rishi Khosla is the CEO and one of the Founders of Copal. His primary responsibilities are overseeing the business development activities for group companies.

Joel Perlman - President

Joel Perlman is President and one of the Founders of Copal. He manages global service delivery operations.

EVALUESERVE :

CEO & Co-Founder - Marc Vollenweider

Chairman & Co-founder - Dr. Alok Aggarwal

CFO - Nandlal Gangwani

CIO - Daniele Tonella COO and Global Business Unit Head, Financial Services Ashish Gupta Global Business Unit Head, Life Sciences and Healthcare Corina Turnes Global Business Unit Head, Corporates and Professional Services - Ravi Mehrotra

 Product or Services :

COPAL PARTNERS
Financial Non-Financial Corporate Consulting

Investment Banking Investment Research

Private Equity
Hedge Funds Asset Management Private Wealth Management Commercial Banking Insurance

Market Data Services

 EVALUESERVE :

Financial Services - Evalueserve is a leading provider of financial research and analytics services to the banking and financial services industry. Corporate and Professional Services - Evalueserve serves corporate and professional services firms in a variety of industries across the Americas, Asia-Pacific Life Sciences and Healthcare - Evalueserve serves clients in the pharmaceutical, medtech, and nutraceutical companies as well as healthcare payors and providers.

THANK YOU