Bacardi Martini UK
Aspect Capital and Bacardi-Martini UK
In assessing high performance work practices of the organizations, I chose Aspect Capital and Bacardi-Martini UK as the example of the organizations that exhibit theoretical framework of the topic. Therefore, some of the variables that I used to select these organizations included the extent of the employees’ involvement practices, reward and commitment practices, and human resource practices. Additional variables included the general organization culture, business strategy, and performance. To start with, aspect capital is the financial organization that has dominated the stock market sector since its foundation date back in 1997 (Sung & Ashton, 2005). The successful profile of Aspect Capital has been achieved through high performance work practices that have been adhered to by the management of the company. Writers who offer marketing management assignment help at Edudorm essay writing service notes that the organization has been using unique business strategies, unique technology system, and effective human resource management practices (Sung & Ashton, 2005). Citing from the fact that financial market is high competitive, the founders of Aspect Capital adhered strictly to the original organizational culture and made extended ventures in the stock market. On the other hand, Bacardi-Martini UK is an international bottling and distribution organization based in Southampton, UK. Regardless of the fact that the organization is an international company, it has been successful with minimal staff number approximately 550 workers (Sung & Ashton, 2005).
Effective Business Strategy at Bacardi-Martini UK
Similar to Aspect Capital, Bacardi-Martini UK Company’s success has been determined by an effective business strategy, a value-based organizational culture and innovation. Citing from the general performance of the company, it is exhibited that the basic determinant of this success is the effective organizational structure which has helped the company adhere to the high performance working organization and practices (Sung & Ashton, 2005). As a result, the company has been able to support its unique business strategy in compliance with its product market. Therefore, under the variables that I considered in selecting the companies to use for high performance work practices, Bacardi-Martini UK exhibited the highest dependence on HR practices and employee involvement for the success (Sung & Ashton, 2005). Nevertheless, though the two organizations have adhered to high performance work practices for success, they have used different organizational strategies and cultures. Experts who offer strategic management assignment help at Edudorm essay writing service indicates that precisely, Aspect Capital used different ventures as their business strategy whereas Bacardi-Martini UK used different human resource practices as the business strategy. The other difference is based on the fact that Aspect Capital uses technology and information technology to reinforce their success whereas Bacardi-Martini UK depends on innovation (Sung & Ashton, 2005). Therefore, this conceptual paper will focus on assessing high performance work practices (HPWP) of the two companies through areas of focus such as commitment and reward, employee skills and training needs, process of performance management, and managing team performance.
High performance work practices (HPWPs) at Bacardi-Martini UK
High performance work practices (HPWPs) refers to management tactics that help employees to increase the way they are profitable to the productivity of a company. When these strategies are applied in a systematic way, they increase the engagement of the employees, performance and the productivity. They also make them to be trusted and they loyalty is assured making the company to increase its profits. There are three areas that HPWPs covers in the performance of the employees. First, they motivate them to engage in intensive practices such as quality circles and sharing. They also make the employees to engage in the human resource practices such as mentoring and making recruitments (Sung & Ashton, 2005). They also involve the rewarding and commitment activities. These include financial rewards and job rotations among others.
Some of these practices motivate more than one area. When the practice of job rotation is done, the employees gain more skills in different sectors of the job. This ensures a high performance in achieving specific significant outcomes. Authors who offer conflict management assignment help at Edudorm essay writing service points that when the working arrangements are made, the make the employees to be dedicated and become more committed. HPWPs have been the core thing behind the HPWOs success in additional practices such the modification of the inputs depending on the business’ objectives. Other examples of such practices include bringing suggestions and innovating, monitoring the management and the leadership of the employees and many more.
The advantageous aspect of the HPWPs is that the managers do not have to start to implement them all at once and so owners do not need to worry. They can be implemented one at a time while considering the priorities of the business. This makes the strategy very easy as well as cheap unlike how many business persons view it (Sung & Ashton, 2005).
HPWPs engagements also depend on the size of the company. Small companies or firms can suit well in this strategy because in most cases they don’t employ professionals. The entrepreneur’s way of view or the attitude he or she has towards the human resource management also matters a lot.
These practices are meant to motivate the workers and appreciate their abilities in a company. In this strategy, the employees are fed enough with the company’s information so that they are aware of the objectives and know what goes they are looking forward to achieve. This creates a job security because all the employees are partakers of the company’s projects. HPWPs considers communication to be an important tool in increasing the performance of all the stakeholders and more so for the employees (Sung & Ashton, 2005).
The element of rewarding in HPWPs is meant to be a motivating factor towards the employees’ commitment. These rewards may be in form of financial rewards, profit sharing, and performance related payments. These rewards give the employees a sense of belonging making them to work from the bottom of their hearts (Sung & Ashton, 2005).
Considering that the growing competitions are stiff, companies ought to involve this strategy in their efforts to maximize a profit which has been the key aim of any organization.
Line managers are people with the responsibility of monitoring and managing these employees at personal level. They ensure that each employee’s performance meets the required standards of the organization (Sung & Ashton, 2005). The customers well being is also monitored by this line manager. Line managers do the work of supervising the employees and they are mostly selected among the workers who have shown total commitment to their work. Tutors who offer change management assignment help at Edudorm essay writing service acknowledges that some of the other responsibilities of a line manager include managing the operational costs, providing skills that need expertise knowledge, ensuring that quality of worker is of high standard and dealing with customers and operators at the first place. They also act as intermediaries between the upper managements and so they are expected to report any cases they might encounter in their operation.
Line managers also set up operational goals that are meant to ensure that all work is accomplished as planned. They also promote equality at work and diversity. This comes in when the employees need to be treated fairly and ensuring that all employees are engage in the learning process of any new introduced strategy (Sung & Ashton, 2005).
They also play an important role of leading the various meetings that are meant to put things in order. It is through such meetings that they get to communicate important issues concerning their operations. They also manage poor performance of the workers. This allows early correction of the mistakes done by the employees.
They also manage the daily attendance of the employees and keeping records of each employee’s well being. In case of a sickness they attend to the diseased accordingly and help them to get compensations in case they are injured in the course of the operation (Sung & Ashton, 2005).
The line managers also manage any disputes that may arise amongst the workers and reporting those that are serious to the upper level managers. This ensures that they operations are running smoothly and expectations are met. They also enforce the terms and conditions of the workplace to the employees (Sung & Ashton, 2005). They are just among the many roles of a line manager.
Process of Performance Management at Bacardi-Martini UK
Performance management is procedure by which mangers of an organization as well as the employee’s works in collaboration to monitor plan and review the objectives of work towards to overall performance of the firm (Sung & Ashton, 2005). Performance management is a process that is never ending because it involves setting of aims in assessing progress. This helps in the provision of feedback as well as coaching to ensure the all the employees are meeting their career goals as well as the stated objectives.
In Aspect Capital & Bacardi-Martini UK corporations there is existence of effective management performance system. This therefore helps in ensuring that the job duties are specific and they are all covered within the general organization. The specifics of the jobs are additionally aligned with strategic culture and direction in order to ensure that the stated objectives are achieved without fail (Sung & Ashton, 2005). Mentors who offer operations management assignment help at Edudorm essay writing service recognizes that an effective management therefore comprises of simple, understand and practical strategies which aims at improving the performance of every individual. An accurate picture is also required in displaying the performance of the employees. This helps in providing accurate performances information which is essential in ensuring that all the employees work based on the stated aims. Performance management helps in ensuring that goals of the organization are set and those of the individual employees are provided to reduce confusion and increase efficiency.
In Aspect Capital performance management process generally involves the process of setting goals that are collaborative and performance of the employees is reviewed based on two communication modes which are between the manger as well as the employees (Sung & Ashton, 2005). The management of the organization supports their staffs in achieving their career goals. This is thus achieved because the organization provides educational and training programs to the employees in order to ensure that the skills of the employees are developed. Instructors who offer corporate strategy assignment help at Edudorm essay writing service argues that this helps in ensuring that the turnover rate in the organization is gradually reduced because employees’ motivation is enhanced. In order for the employees to achieve work efficiency there must be the existence of developmental opportunities. The organization management is additionally involved in improving those areas that are characterized with poor performances through the provided reviews (Sung & Ashton, 2005). The management accomplishes this by establishing and implementing plans that are aimed to improve the performance.
In both Bacardi-Martini UK, the management states that the organization is guided by the statement that system of managing performance requires adequate time in reviewing it. Adequate resources are also requiring (Sung & Ashton, 2005). The organizations mutually hold that in order to improve performance the employees must be involved in the process of making decisions without fail. The organization also identifies and values the accomplishments of the employees. These acts as a form of reward because employees need motivation in order to continuously provide better results. The organization reviews the performances of every employee by providing continuous feed work to them that are constructively analyzed (Sung & Ashton, 2005). This helps in highlighting the areas that have achieved efficiency as well as those areas that requires to be transformed. Monitoring of behaviors as well as the achieved results is also done to ensure that evaluation of the generated performance is summarized.
Managing Team Performance at Bacardi-Martini UK
Team management is defined as a process by which employees and managers in an organization plan and evaluates the work achievement of different teams. This is therefore crucial in an organization as it helps in increasing the ability of individual employees in participating in team work. In Aspect Capital team performance management is highly encouraged because team work helps in achieving the goals of the organization within a short period of time which helps in achieving work efficiency (Sung & Ashton, 2005). Teachers who offer strategy assignment help at Edudorm essay writing service says that although the firm highly encourages teamwork it is suggested that the corporation should adopt an effective strategy in managing the performance of the teams. This should therefore involve the utilization of objectives setting for each team based on the tasks that they are required to perform. This will help in increasing the efficiency of teamwork which is highly required while improving performance
Bacardi-Martini UK, team performance management is the procedure by which the work of the teams and their performances are evaluated effectively. This process therefore involves rating the tasks that have been achieved and the rate by which the achievements has negatively or positively impacted the organization (Sung & Ashton, 2005). This is therefore done based on the developed objectives. Team, work performances is as essential part of measuring work and task achievement because team participation helps in reducing the amount of resources that the cooperation requires. This is additionally based on innovativeness of the team for instance in developing ideas in support of product developments.
Commitment and reward (non-financial reward and pay) at Bacardi-Martini UK
Aspect capital uses Quarterly Individual Bonus system which measures the rewards and commitments of the employees in the organization (Sung & Ashton, 2005). Employees need to be rewarded especially the committed ones who ensure the company remains successful. Aspect Capital through the QUIB ensures that employees remain committed in order to ensure that the goals and objectives of the organization are achieved (Sung & Ashton, 2005). Through Quarterly Individual Bonus, the leaders in the organization ensure that the rewards are improved so that the organizational culture is improved too. Motivating employees comes hand in hand with the organization remaining committed to the reward and commitment practices in order to attract the employees. This system ensures that employees earn enough wages and are able to work well in the healthy working environments. Trainers who offer project management assignment help at Edudorm essay writing service states that thus this reward system ensures that employees are motivated and that the performance in the company is improved. On the other hand, Barcadi Martini UK uses the family friend policies as a reward and commitment practice. The organization ensures that through this system, employees are paid during leaves and are supported in other activities such as housing and this shows how the company is committed to its employees (Sung & Ashton, 2005). Employees are also given sick leaves, which is a positive sign of the commitment of the company towards the employees. This system has worked in the company since employees are motivated since they are assured of the commitment of the company. Thus the company has been successful and thus employees are committed to their jobs since they are well paid and their needs well taken care of.
Employees’ skills and training needs
Both organizations employ people with high skills who got the best talents so that the set goals and objectives can be achieved. Aspect capital however has been successful because it ensures that employees recruited remain committed to their jobs. Recruited employees are trained and well oriented so that they can ensure the organization is successful (Sung & Ashton, 2005). Effective communication is ensured in this organization as one way of ensuring the employees remain committed to their job. Communication is a necessity in enhancing and maintaining success in the organization which has been successful for years. Team work is a key method used in this organization since employees work as a team and thus spread knowledge and skills from one employee to the other. This ensures that new ideas are shared and put in place all in success of the company. On the other hand Barcadi Martini UK ensures that employees work in excellent and healthy environments. Working in comfortable environments has made employees love working in the company and thus are always motivated (Sung & Ashton, 2005). New employees are well introduced to what happens in the company and are well trained so that they can ensure the company remains successful. The company trains its employees to remain focused and committed and at the end of it all, they are able to work diligently to ensure the company prospers (Sung & Ashton, 2005). The company fully supports its employees and thus they remain loyal to the organization and since they are well paid they work hard to ensure the company prospers. Thus installing leadership skills in employees and ensuring they remain well motivated have ensured that employees work comfortably and diligently for the benefit of the company.
Conclusion
It is factual that high performance work practices stand among the few determinants of the general organizational success. Therefore, high performance work practices are delineated as the work practices that are executed in an organization with an aim of improving the general performance of the organization in the market. Organizations that practice high performance work practices are identified as high performance work organizations (HPWOs). Thus, in assessing the high performance work practices in different HPWOs, I selected Aspect Capital and Bacardi-Martini UK as the examples of the companies that exhibit implementation of HPWPs. However, regardless of the fact that these two organizations have succeeded through HPWPs, they have used different organizational aspects to reinforce their success. An example of the differences exhibited by the two organizations includes business strategy, use of technology, innovation and human resource practices. Precisely, the two companies exhibited different processes of performance management, team performance management, serving employees skills and training needs, and commitment and rewarding. For instance, in processes of performance management, Aspect Capital used collaborative goal setting whereas Bacardi-Martini UK performance management is reviewed and executed by the top management. Generally, it is factual that regardless of the uniqueness of the executing the aspects of high performance work practices, HPWOs benefit significantly particularly in matters concerning success.
References
Sung J. & Ashton D. (2005). High performance work practices: linking strategy and skills to performance outcomes.
https://www.royalwarrant.org/company/bacardi-martini-limited
