(Solution) CIPD 5C002 how people practices could add value at Technivara and identify two methods that might be used to measure the impact of these people practices
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Description
Solution
People Practices Adding Value
The effectiveness of Technivara may be influenced by human resource management (HRM) practices, which aim to align the skills and talents of its employees with its goals. Recruiting and selection, organisational talent development, and performance evaluation are all part of these practises. Because they offer workers purpose, tools, and encouragement to achieve the Technivara‘s goals, the aforementioned HR practises have a good effect on performance and productivity. As an example, Technivara education programs have the power to greatly increase employee motivation, which in turn leads to better productivity and lower employee turnover rates (Ngozi and Edwinah, 2022). As a last point, Technivara invest in their employees’ professional development take on the task of producing dedicated workers who are prepared to take on the competition.
Measuring the Impact of People Practices
Return on Investment (ROI)
This metric compares the value created by an investment with its initial expenditure, taking into account the cost effect of both ongoing and finished initiatives. Enhanced productivity, higher employee turnover, and enhanced Technivara profitability are some of the results that could be helpful in determining the tangible numbers of return on investment (ROI) for specific people practices. A high return on investment (ROI) in human resource operations indicates that Technivara is getting a good return on its investment (Moltke, 2024).
Employee Surveys and Feedback Mechanisms
Polling workers on their thoughts and feelings is another way to find……..
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- This business report has been used for evaluating the category and contract management in Eco2Solar Company.
- In particular, Eco2Solar operates to improve their project management (PM) and Cost Management (CM) as part of their category management has been evaluated.
- The areas of focus has included an evaluation of requirements for initiating and preparing category management, strategic and conventional sourcing process and role in contract management, tools and techniques for mapping categories of direct and indirect expenditure.
- From the findings obtained, innovative measures for improving the supply chain in light of categories and category management has been recommended.
- Further, in this business report, the contract administration and contract management in case of category management has similarly been evaluated in context of category management this is with assessment of risks and implementation of risk management techniques in contracts being reviewed in context of category management.
- In order to appreciate the best practice in category and contract management in the selected Eco2Solar construction spend area, use of quantitative and desk research has been pursued to obtain relevant data.
- Additionally, different tools have been applied such as Mendelow Stakeholders analysis, CIPS Category Management Cycle, CIPS Contract Management Cycle, Suppliers positioning, PESTLE analysis and SWOT analysis.
- Considering this business report findings, Eco2Solar need to improve their approach for risk management and efficiency and effectiveness of category and contract management.
- From these finding, the stakeholders collaboration in Eco2Solar need to be improved which can be done by embrace of blockchain technologies.
- Also, by identifying their PS&M teams training and capacity development, they would be able to improve on their category management. In the contemporary procurement environment, the training and capacity development has been noted as the best practice to manage gaps in their operations. Also, the findings indicate the need for Eco2Solar to improve their category management of their construction spend by coming up with appropriate SLA’s agreement and KPIs while ensuring they capitalise on innovativeness.
- For the project management and cost management, this being a long-term investment would require an improved auditing. This can entail embrace of analytics to analyse and present contract management data and appropriate management strategy.
- The importance of improved collaboration is ensuring stakeholders active involvement and awareness on core decisions made as this could harness their practice, contribution and suggestions noted.
- By successfully pursuing stakeholder analysis, it is important to maintain stakeholders relations which promote Eco2Solar organisation image and increase their market share.