Archive June 11, 2018

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Stakeholders

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Introduction

An individual or  Group   which has direct or indirect stake in a  project  that can affect or  affected by the  actions, objectives  and decisions  of the Project can be  identified as   Stakeholders.  Accordingly Creditors, Customers, Directors, Employees, Owners or Shareholders, Suppliers, Trade unions, Government  and its Agencies  are all included under  the expression  of Stakeholders. Stakeholder  can be  anyone who has  interest in the  project   or will be affected by its  dealings. Project Managers have to   realize the values and issues that stakeholders have in order to  involve everyone in the project. The sooner these issues are addressed positively  the better it is for the smooth functioning  and progress of the Project.

Different Stakeholders

Stakeholders are not  equal  and  various stakeholders are  entitled to   different  considerations. As an example  company’s customers who comprise part of the stakeholders  are entitled to  fair  trading deals but  they are not entitled to  the same consideration as the Project  employees.

Stakeholder management

To put it into its context, stakeholder management is vital in order to  achieve  objectives of any Project.   Creating  positive relationships with  stakeholders and  proper  management  is a most unique feature  which has pivotal importance   in   contemporary business environment.

Stakeholder Map

A stakeholder map is a supportive  document  in order to identify  each and every  stakeholder. This   will ease the stakeholder management process. Recognizing   stakeholders  according to the influence or  impact they can make on the project  will also be helpful in the  management of stakeholders.

Stakeholder Agreement

It is primarily focused at getting to know  each other  and engagement is the opportunity to  discuss and  agree  to a set of values and principles. It is necessary that  all stakeholders  to   abide by them. Stakeholder agreement is a document of consensus  between and among  stakeholders.

Human Resources

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Human Resources Department has to presume itself as a strategic partner to assure that viability and ability to contribute to the organization. In this manner Human resources Department can contribute to the smooth functioning and development of the organization and accomplishment of company strategy and objectives.

In this regard Human resources Department has to be strategic and conversant with the work system in which people can be succeeded and contributed. In this strategic atmosphere human resources functions such as recruiting right candidates,   motivating employees performance, evaluation of employees, career planning and growth of employees are required.

Today Human Resources Department Employees have  to think  like businessmen and should  know accounting and finance and they are always responsible and accountable,   prepare  strategies to  reduce cost and plan all  human resource development programs.

Human Resources Department plays and pivotal role in any organization and   for the success and progress of the organization it is the responsibility of the human resources department to create an organization with excellent working environment and motivate employees to contribute with increased productivity.

Further Human Resources Department to assists to establish the company’s culture and climate in which employees have the concern and commitment to exceed the expectations of customers who are the most import persons in any organization.. Fostering effective systems and keeping targets, working for deadlines, empowerment though responsibility are some of the functions of Human resources Department.

It is also the function of Human Resources Department to search and find employee growth opportunities, assistance programs planning, profit sharing strategies, development of the company process approaches and solving employees’   frustration problems etc.

The continuous evaluation of the efficiency of the organization results in the need for the HR department to regularly change. Both knowledge about and the ability to execute successful management strategies make the human resource professional remarkably cherished.

It is the duty of the Human Resources Department to continuously   reviving efficiency and effectiveness of HR functions and changes are made accordingly and adjust work practices. In order to encourage overall success of the company it has to identify the shortcomings, setbacks and prepare action plans accordingly.

It depends of surviving and progressing of any company on employees performance and this is the truth even for mere survival in today’s market conditions. It is vital to motivate existing  employees and recruit the best.

Under these circumstances following can be identified as necessary to enhance and increase the full productivity of employees.

  1. Job enlargement
  2. Job enrichment
  3. Job rotation
  4. Incentives to employees to motivate them

 

 

 

Acknowledgement

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I take this opportunity to sincerely thank  the Management of  XXXXXX Financial Services PLC  which   appointed me   as the Head of Human Resources department  in this organization and  giving me the opportunity  for  preparing this report.

I also  take this opportunity to express  my sincere gratitude to  all Executives and staff members of XXX who have supported me in this endeavour.

Finally I thank all  who helped me in various  ways but I  regret my inability  to identify them  by their individual  names.

Sincerely,

 

Executive Summary

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In  (1)  Background heading  I have given  a brief description about the  xxxxxxxxxxxxxxx Services PLC.

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