Human Resource Management Human Capital Planning

Question: Discuss about theHuman Resource Managementfor Human Capital Planning. Answer: Introduction The debenture authority has the rights to use a command of sale without much notification and thus beginning the process of receivership. Things move fast when in the contract it is mentioned that during default the authority has the power to appoint a receiver. Mostly the receivership procedures begin on basis fixed charge (Munnery, 2017). If nothing of this sort is mentioned in the contract than the lender would have to issue a demand notice for payment. And thus when this notice does not fetch the appropriate returns than the lender has the authority to assign receiver (Companies Office, 2015). Human Capital Planning Source: https://lh4.ggpht.com/_TxjmrWH7LYs/SxL-pIIJZsI/AAAAAAAACXU/Pgi0fiDeTNE/InfoHRMWFPprocess1.png?imgmax=800 The human resource literature does consist of various approaches and models which elaborate how the human resource can be used as a good human resource practice and process (Human Resources management, 2005). The values do highlight the importance of basic issues and how strategic approach is important during the company's receivership. The HRs duty is to give sufficient amount of attention to the companys pending human resource issues. The HR must stay intact in resolving the issues and should not deviate from the goal by being optimistic (Baird and Meshoulam, 1988). Compensation Benefits The most important aspect of any organization is its employees. But the employees are the ones who tends to get scapegoats whenever the company goes into receivership or bankruptcy. During this period the employees are under the risk that they would get their due salaries or even if they get it would take quite an amount of time to recover those payments (Protection of employees, 2017). As an HR manager, it is my sole duty to confer these issues to the new owner so that they can be resolved quickly. The employees need to be given the status of priority creditor during this phase (Cornell et al., 2009). The employees always need to get special protection during the period of receivership. It is my duty to see that the persons who lost their job and to be precise livelihood during this period must get compensation and protected as guided out by the judiciary (Workers Compensation Administration, 2017). Learning and Development Source: https://thehrmetrics.com/wp-content/uploads/2015/12/11.png The development in the framework of Human resource management is helping the employees to cope up and develop their knowledge, skills, and abilities of both personal as well as organizational skills (Wilson, 1999). As an HR it is my key responsibility to look into the development of the employee career, training of the employees, development and performance management, planning succession and also mentoring (Human Resource Development, 2017). Hiring The company needs to alter the workforce to have respective benefits from the employees (Employment and Labor Concerns during Bankruptcy and Restructuring, 2010). The companys cost structure needs extra attention during restructuring (Debtors Guide to Bankruptcy, 2014). The new management should look into possible chances of out of court settlement for the resolution of the labors to avoid any complications which may arise if the employees do file for bankruptcy (The Hiring Process, 2017). References Human Resources management strategies to support organizational changes. (2005). 1st ed. [ebook] Luxembourg: PricewaterhouseCoopers. Available at: https://www.eupan.eu/files/repository/HRManagement1.pdf [Accessed 25 Jan. 2017]. Avoiding the Pitfalls of the Hiring Process. (2017). 1st ed. [ebook] Rutan Attorney at Law. Available at: https://www.rutan.com/files/Publication/199a252c-ce84-4913-937e-9e8eba43726a/Presentation/PublicationAttachment/555c5329-c5db-4158-8afe-a341ba929ce2/Avoiding%20the%20Pitfalls%20of%20the%20Hiring%20Process.pdf [Accessed 25 Jan. 2017]. Baird, L. and Meshoulam, I. (1988).Managing two fits of strategic human resource management. 1st ed. [ebook] Academy of management. Available at: https://cursos.itam.mx/sastre/lecturas/baird88.pdf [Accessed 25 Jan. 2017]. Companies Office. (2015).What happens during a receivership?. [online] Available at: https://www.companiesoffice.govt.nz/companies/learn-about/closing-a-company/business-in-difficulty/receivership/what-happens-during-a-receivership [Accessed 25 Jan. 2017]. Cornell, J., Hagen, D., Jesner, L. and Eschbach-Hall, T. (2009).Employee Benefits and Executive Compensation in Corporate Bankruptcy. 1st ed. [ebook] Available at: https://www.lexisnexis.com/documents/pdf/20090109094133_large.pdf [Accessed 25 Jan. 2017]. Debtors Guide to Bankruptcy. (2014). 1st ed. [ebook] Available at: https://www.isi.gov.ie/en/ISI/Bankruptcy_feb.pdf/Files/Bankruptcy_feb.pdf [Accessed 25 Jan. 2017]. Employment and Labour Concerns during Bankruptcy and Restructuring. (2010). 1st ed. [ebook] I N D E P T H. Available at: https://blg.com/en/News-And-Publications/Documents/publication_1594.pdf [Accessed 25 Jan. 2017]. Human Resource Development. (2017). 1st ed. [ebook] Available at: https://scholar.google.co.in/scholar_url?url=https://www.academia.edu/download/35844871/hrd_general.docxhl=ensa=Xscisig=AAGBfm2t97g-DP6AmCj4w3p0VLUZtKyO2gnossl=1oi=scholarrved=0ahUKEwjS5-Go_d3RAhUEPY8KHUtrBrUQgAMIHCgBMAA [Accessed 25 Jan. 2017]. Munnery, J. (2017).Company Going Into Receivership?. [online] Real Business Rescue. Available at: https://www.realbusinessrescue.co.uk/articles/receivership/going-into-receivership [Accessed 25 Jan. 2017]. Protection Of Employees Entitlements In Cases Of Employer Insolvency In Malaysia (2017).International journal of business and society, [online] 13(2), pp.209-223. Available at: https://www.ijbs.unimas.my/repository/pdf/Vol13No2-paper9.pdf [Accessed 25 Jan. 2017]. The Insolvency and Bankruptcy Code. (2016). 1st ed. [ebook] Available at: https://www.ibbi.gov.in/Law/IBC%202016.pdf [Accessed 25 Jan. 2017]. Wilson, J. (1999).The Role of Learning, Training and Development in Organizations. 1st ed. [ebook] The Role of Learning, Training and Development in Organizations. Available at: https://danangtimes.vn/Portals/0/Docs/121101441-Learning%20amp%20Training%20for%20Individuals.pdf#page=32 [Accessed 25 Jan. 2017]. Workers Compensation Administration Manual. (2017).An Administrators Guide to the Workers Compensation Claim Process At Texas AM University. [online] Available at: https://employees.tamu.edu/media/330793/568WorkersCompProcess.pdf [Accessed 25 Jan. 2017].