Submitted By: Tuba Tehreem

Registration Number: 2015-GCWUF-1733

Department: Business Administration

Introduction:

Human Resources Management (HRM) is a new concept. It is a combination of

HR, Accounting, Management, Financial Management and Economics.
Globalization to would economy has exposed the corporate business
organization to worldwide competition, mobilization of professional manpower
and modern quantitative management practice. So, there are growing realization
cannot achieve its goal effectively and efficiently. To face this complex
management challenge, effective objectively measurable database system to
measure and apply HRM information.

Now-a-days, in Pakistan, every year, and huge amount of money and talented
HRM are being engaged by corporate to improve the productivity or skills of their
workforce across the country. Such huge expenditures are made with the
expectation of future returns in terms of improved services to be rendered by
skilled employees. In other words, organizations by investing human resources
development definitely increase the service potentials embodied in human
resources and these investments thus create economic assets for the
organizations.

Human resource (or personnel) management, in the sense of getting things done
through people, is an essential part of every manager’s responsibilities, but many
organizations find it advantageous to establish a specialist division to provide an
expert service dedicated to ensuring that the human resource function is
performed efficiently.

“People are our most valuable asset” is a cliché which no member of any senior
management team would disagree with. Yet, the reality for many organizations
are that their people remain under valued, under trained and under utilized.

The rate of change facing organizations has never been greater and
organizations must absorb and manage change at a much faster rate than in the
past. In order to implement a successful business strategy to face this challenge,
organizations, large or small, must ensure that they have the right people
capable of delivering the strategy.
There is a long-standing argument about where HR-related functions should be
organized into large organizations, e.g., “should HR be in the Organization
Development department or the other way around?”

The HRM function and HRD profession have undergone tremendous change
over the past 20-30 years. Many years ago, large organizations looked to the
“Personnel Department,” mostly to manage the paperwork around hiring and
paying people. More recently, organizations consider the “HR Department” as
playing a major role in staffing, training and helping to manage people so that
people and the organization are performing at maximum capability in a highly
fulfilling manner.

Company Profile

M.K Sons (Pvt) Ltd:

M.K Sons is among the large Pakistan private sector manufacturing and service
based enterprises, owning and operating 03 units giving value for money to all
customers.

The group started modestly in 1997 in Home Textile and with prudent
entrepreneurship of our Founder Chairman Mr. Javed Akhter today we have a
stake in Home Textile. A dedicated work force and committed board members
led by our Chairman and backed by a market oriented corporate strategy has
been the cornerstone of our success. Today the group has over twenty family
owned private limited companies with a sizable turnover. Ours is a dynamic
organization always exploring new ideas and avenues to expand and grow
further.

Beside, in house and outside training, recruits business graduates from reputed
universities as management training for mainstream banking to enrich quality of
human resources contributing towards operations effective and long-term
sustainable results.
Vision Statement:

The Sky is not the limit for us, but their expectation is within limits. Therefore,
their imagination soars beyond conventional barriers. M.K Sons (Pvt) Ltd share
or destiny with their beloved motherland. They want to serve her in the greater
quest for national uplift.

Mission statement:

To sincere traveler, the way is never too long. M.K Sons (Pvt) believes in
“progress in diversity and service through entrepreneur”. They are merchants
and missionaries, doers and dreamers, entrepreneurs and professionals. They
are futuristic with emphasis on creating thinking and dynamic action.

High quality financial services with the help the latest technology.

Fast and accurate customer services

Balance growth strategy

High standard business ethics

Steady return on shareholders’ equity.

Innovative banking at a competitive price.

Attract and retain quality human resource.

Firm commitment to the society and the growth of national economy.

THE SPIRIT:

Enterprise is M.K. Sons Group’s spirit. M.K. Sons Group manufactures superior
import-substitute consumer and industrial products. Their cutting edge precision
leads to greater public utility and hygiene, with a great care for the environment
and human inhabitation. It is the very ingredient that gives their organization the
integrity upon which their reputation is built and we zealously guard it everyday.
Many a thousand minds of their group contributed to their gathered knowledge to
keep the wheels rolling that in turn leads them to goal. This cumulative strength
of knowledge is required, today, to find new solutions for the manifold problems
of fast- changing economic cultural and ecological milieu.

Objectives:

M.K. Sons (Pvt) Ltd is a customer focused modern banking institution thriving
fast in both earning and ability to stand out as a leading banking institution in
Bangladesh. They deliver unparalleled financial services with the touch of heart
to Retail, Small and Medium Scale Enterprises (SMEs), corporate, institutional
and governmental clients through the outlets of branches across the country.
Their business initiatives center on the emerging need of the clients.

M.K.Sons (Pvt) Ltd’ client commitments are the following:

Provided services with high degree of professionalism and use of most modern
technology.
Create life-long relationship based on mutual trust and respect.
Respond to customer needs with speed and accuracy.
Share their values and beliefs
Grow as their customer grows.
Offer first rated solutions of client’s problems and issues.
Provide products and services at competitive pricing.
Ensure safety and security of customer’s valuables in trust with them.

Future program:

The program and strategy and M.K.Sons (Pvt) Ltd Group have undertaken with
their strengthened positioned and design to create a based from which growing
and sustainable profit can be generated. They are now well positioned to exploit
opportunities that arise from their own progressive activities and then the market
offered. They intend to pursue strategy that will built value for their shareholders.
Doubling the profit
Sound financial management
Pursue innovation in our product offering.
Expand and diversified customer base.
New product introduction leading to competitive advantage.
Improved efficiency.
Up – gradation of on-line banking
Establishing new profit center
High level of customer services
Stronger and diversified relationship with customer
Expansion of network
To be employers and choices
Stable dividend for shareholders
Contribution to the national exchequer and for social works and many others.

Company Profile: M.K.Sons (Pvt) Ltd

Name of the Company: #M.K.Sons (Pvt) Ltd

Date of Establishment: #1997

Name of the Chairman: #Mr. Javed Akhter

Number of Group Business: #03

Target Turnover: #US $600 million (2018-2019)

Number of Employees: #Over 3,000.

GROUP MANAGEMENT

Mr. Javed Akhter

Chairman

Mr. Javed Akhter

Director

Mr. Muhammad Erkan

Director

Mr. Muhammad Aneeq

Director

Mr. Muhammad Babar

Corporate Office:

02 KM Jaranwal Road Khurrianwala

Faisalabad 38000,
Pakistan
Phone: 041-2428551
Fax: 041-2428552
E-mail: mksons@mksons.com

CUSTOMER FOCUSED & INNOVATIVE:

M.K.Sons believes their success depends on customers. Thus, their primary

value is fulfillment of customer’s needs. Their manner of achieving this success is
to include value for money,

INTEGRITY:

M.K.Sons is committed to conduct their business in such a way that

demonstrates highest ethical standards. They believe integrity is our imperative
utility to succeed in what they do.

QUALITY POLICY:

To produce goods as per customers satisfaction.

To select employees on the basis of qualification.
To keep hygienic conditions in the factory.
To ensure the health of the workers.
Continuous improvement in the quality management system

Objective of the study:

In view of the above discussion we find following objectives:

1) HR practice is in Human Resources Management.

2) Various steps taken by the management to develop personnel policy on the

basis realistic cost-benefit analysis, to made better management decisions in HR,
to adjust costs incurred in acquisition of HRM to optimize effectiveness of
investment decisions.

Teams or work groups exist in all organizations, ranging in nature from ad hoc to
formal. However many teams have not clearly articulated their common purpose
for all team members and have not invested in agreeing the team’s common way
of working.

Company has facilitated many teams to identify the barriers to team

performance, define its core aims and deliverables, agree a team contract on
how the team members will work together, and to develop team working skills.
We have developed expert tools and processes to support team development
and provide ongoing measures of team effectiveness, for example TDP Survey
and Senior Team Development.

We also said facilitation support between individuals when relationships have

broken down and a new way of working needs to be contracted between
individuals, groups, departments.

Functional overview and strategy for HRM:

These issues motivate a well thought out human resource management strategy, with the precision and
detail of say a marketing strategy. Failure in not having a carefully crafted human resources management
strategy, can and probably will lead to failures in the business process itself.
This set of resources is offered to promote thought, stimulate discussion,
diagnose the organizational environment and develop a sound human resource
management strategy for your organization. We begin by looking at the seven
distinguishable functions human resource management provide to secure the
achievement of the objective defined above.

Following on from this overview we look at defining a human resource strategy.

Finally, some questions are posed in the form of a diagnostic checklist for you to
consider, which may prove helpful for you to think about when planning your
development programs for the human resources in your organization, if they are
truly “most valuable asset.”

Definition and Concept of HRM

HRM is the set is organizational activities directed at attracting, developing, and

maintaining an effective workforce. Human resource management takes place
within a complex and ever-changing environmental context. Three particularly
vital components of this context are HRM strategic importance and the legal and
social environment of HRM.

The Human Resources Management (HRM) function includes a variety of

activities, and key among them is deciding what staffing needs you have and
whether to use independent contractors or hire employees to fill these needs,
recruiting and training the best employees, ensuring they are high performers,
dealing with performance issues, and ensuring your personnel and management
practices conform to various regulations. Activities also include managing your
approach to employee benefits and compensation, employee records and
personnel policies.

The Concept of HRM

The objectives of this section are to:

Outline the variety of ways in which HRM is defined.

Offer a working definition for the purposes of this book.
Discuss the most influential early models of HRM.
Review some of the evidence for the adoption of HRM
Defining human resource management
Many people find HRM to be a vague and elusive concept…

Maps and models of HRM

This section begins with a discussion of various approaches to HRM…

The Harvard map of human resource management

This is probably the most seminal model of HRM and has had a major influence
on academic debate on the subject.

Hard HRM
The Michigan model is also known as the ‘matching model’ or ‘best-fit’ approach
to human resource management.

Guest’s Model of HRM

David Guest’s British model of HRM has 6 dimensions of analysis

Alternative HRM Models

The terminology used in academic human resource literature is problematic
because some authors distinguish between ‘the HRM models’ as distinct from
‘the Personnel model’.

The Discourse of HRM

HRM has been addressed by a number of writers from a ‘discourse’ perspective.
Usually small businesses (for-profit or nonprofit) have to carry out these activities
themselves because they can’t yet afford part- or full-time help. However, they
should always ensure that employees have — and are aware of — personnel
policies which conform to current regulations. These policies are often in the form
of employee manuals, which all employees have.

The objectives of this section are to:

Evaluate whether or not HRM has been meaningfully implemented and, if so, to
what extent.

* Investigate the form it may take.

* Determine the principal driving forces for the implementation of HRM.

* Summarize evidence for its effectiveness.

* Consider trends and future developments for the human resource function.

Note that some people distinguish a difference between HRM (a major

management activity) and HRD (Human Resource Development, a profession).
Those people might include HRM in HRD, explaining that HRD includes the
broader range of activities to develop personnel inside of organizations,
including, eg, career development, training, organization development, etc.

In Managing Human Resources: Personnel Management in Transition, Stephen

Bach (2005:3) argues that, compared to a decade ago, much of the controversy
about the definition of HRM has dissipated. He considers that, in part, this may
be due to the use of a broader and more encompassing definition of HRM.
However, Bach (p.4) shows that the debate has not vanished by disagreeing with
Boxall and Purcell’s (2003:1) statement that HRM refers to:

“… all those activities associated with the management of the employment

relationship in the firm. The term ’employee relations’ will be used as an
equivalent terms as will the term ‘labor management’.”

Bach argues that this definition is ‘a little too broad’, stating that such a broad
definition makes it difficult to:

Highlight any distinctive features or values that underpin HRM

Chart changes in the practice of HRM
Understand the controversy surrounding HRM
In Bach’s opinion, HRM differs from employee relations in its focus on
management practices and tendency to ignore the interests of employees. In
fact, he holds quite ‘hard’ views on the nature of HRM:

HRM is unitary (employer and employee interests should coincide) with an

emphasis on organizational effectiveness
The interests of other stakeholders such as employees are marginalized
There is a predominant interest on the individual firm – specifically, within the firm
– focused on individual employee motivation and aspiration
There is a consequent playing down of external and collective (unionization)
issues.
Human Resource Management in a Business Context 2/e discuss the use and
meaning of the term ‘human resource management’, present a number of
textbook definitions and provide a working definition for the book:

‘A philosophy of people management based on the belief that human resources

are uniquely important in sustained business success. An organization gains
competitive advantage by using its people effectively, drawing on their expertise
and ingenuity to meet clearly defined objectives. HRM is aimed at recruiting
capable, flexible and committed people, managing and rewarding their
performance and developing key competencies.’

Adopting HRM.

Human resource management has been presented as a radical alternative to

personnel management (…) consisting of exciting, modern ideas which would
replace the stale and ineffective prescriptions of personnel management. In fact,
the process of transition has been slow. The market place for talented, skilled
people is competitive and expensive. Taking on new staff can be disruptive to
existing employees. Also, it takes time to develop ‘cultural awareness’, product/
process/ organization knowledge and experience for new staff members.

The Impact of HRM

After all, this is the justification implicit in HRM models for valuing the human
resource above all others. The following were given as possible explanations:
Insufficient research. Not because of lack of effort but due to the absence of
clear, agreed frameworks within which to conduct comparative research. The
root cause of this was perceived as HRM’s own ambiguity. How were we to look
for evidence of HRM and its effects if we had no agreement on what HRM was?
Intangibility. If people are an ‘intangible resource’ we have an insurmountable
problem – by definition intangibles are immeasurable!
Since then, progress has been made in conceptualizing the problem and
measuring results (…). For example, that ‘low-road’ practices – including short-
term contracts, lack of employer commitment to job security, low levels of training
and unsophisticated human resource practices – were negatively correlated with
corporate performance. In contrast, they established a positive correlation
between good corporate performances and ‘high-road’ work practices – ‘high
commitment’ organizations or ‘transformed’ workplaces. They also found that HR
practices are more likely to make a contribution to competitive success when
introduced as a comprehensive package, or ‘bundle’ of practices.

1. Use of technology to communicate with employees.

2. Rising health care costs.
3. Increased vulnerability of intellectual property.
4. Managing talent.
5. Greater demand for high-skilled workers than for low-skilled workers.
6. Labor shortage.
7. Change from manufacturing to information/service economy.
8. Increase in employment-related government regulations.
9. Focus on domestic safety and security.
10. Ability to use technology to more closely monitor employees.

These views represent an American perspective, but practitioners in other

countries would probably identify with a number of these trends. (…)

HR function is clearly shifting from being a “service provider” to a “business

partner” but the requirements and needs of this new role can also be met by line
managers or external providers. Hence the change of roles is both an immense
opportunity and a threat for human resource managers. Considers that the HR
function of the future will be significantly from that in the past and that
organizations need to recognize this in order to make the most of knowledge
workers and knowledge professionals. According to and strategic literature is
increasingly emphasizing intellectual capital, learning processes and
organizational adaptability. They argue that HRM specialists could play a central
role because questions of how to attract motivate and develop workers with
scarce but critical abilities, and developing effective processes of work
organization are fundamental to knowledge-based competition.

Importance of HRM

Prior to the mid- 1960s personnel departments in organizations were often

perceives as the “health and happiness” crews. Their primary job activities
involved planning company picnics, scheduling vacations, enrolling workers for
health-care coverage and planning retirement parties. That has certainly chanted
during the past three decades.

Federal and state laws have placed man new requirements concerning hiring
and employment practices in employees. Jobs have also changed. They have
become more technical and require employees with greater skids. Furthermore,
job boundaries are becoming blurred. In the past, a worker performed a job in a
specific department, working on particular fob risks with others who did similar
fobs. Today’s workers are just as likely, however, to find themselves working on
project teams with the various people from across the organization. Others may
do the majority of their work at home – and rarely see any of their coworkers.
And of course, global competition has increased the importance of organization
improving the productivity of their work force, and looking globally for the best-
qualified workers, this has resulted in the need for HRM specialists trained in
psychology, sociology, organization and work design and law.

Federal legislation requiem’s organizations to hire the qualified candidate without

regard to race, religion color, sex, disability, or national origin- and someone has
to ensure that this is done. Employees need to be trained to function effectively
within the organization land again, someone has to oversee this. Furthermore,
once hired and trained the organization has to provide for the contriving personal
development of each employee. Practices are needed to ensure that these
employees maintain their productive affiliation with the organization. The work
environment must be structured to induce workers to stay with the organization,
while simultaneously attracting new applicants. Of course, the someone’s we
refer to those responsible for carting our activities are human resource
professionals. Today, professionals in the human resources area important
elements in the success of any organization. There require a new level of
sophistication.

Human resource and employee personal-development courses are founded

upon the principles of psychology in the workplace. Some courses are
competency-based and provide practitioners with skills to appropriately assess
and develop employees at work. Also plays a part in every employee’s
development through the provision of courses such as Time Management, Stress
Management and Conflict Resolution. Additionally, we are involved in team-
building and motivation events, as well as skills development for those who are
seeking employment.

But it also creates a new difficulty for managers and supervisors – because they
need to understand and act on the new model of HR Management and learn the
necessary distinctions between the old management and the new empowerment
style. This workshop is designed to provide a Manager or Supervisor of any
function with some `real life tools` and `tips` to become an empowering leader
and establishes their credibility as an effective supervisor.

Conclusion:

M.K.Sons focuses on building high quality human resources with expertise and
professional skills adopting the human resources re-engineering and
development plant was a view to creating and excellent clientele service
environment for ultimate achieving of sustain profit growth making no comprising
with the quality assets creation.
The company human resources development strategy is too built up quality
manpower with conceptual managerial knowledge skills through designing of
continuous in house and outside training program. The arrange in house,
customized special training at for fresh entrained to build up quality manpower
and suitable placing them in productive channel. It also arrange training program,
workshop etc. Under executive development program for increasing quantum of
quality manpower at higher management level.

M.K.Sons offer challenging professional opportunities to young persons who can

give sustained and focused hands on performance in the field of marketing,
accounts, finance, production, MIS / IT and engineering. Vacancies arise from
time to time to fulfill requirements of the Group.

M.K.Sons Group offer attractive salaries and benefits in line with top industrial
employers in Pakistan. Scope of advancement is strictly performance based.
They have mobilized adequate distributors to serve all parts of the regions; they
are one of the largest distribution organizations in Pakistan. This network makes
possible the flow of goods from the producer through intermediaries to the buyer

The region’s proximity to the market, favorable duty and quota treatment, low
cost environment and strong work ethic make it the ideal place for apparel
production. M.K.Sons opened their state of the art manufacturing facility. One of
the most modern facilities in their 57,000 square foot facility contains a one shop
of capabilities for the most efficient means of apparel manufacturing available.