Mining Excellence at Redmond Minerals Cynthia Bolden Strayer University HRM 500 003016*2011031 January 24, 2011 When Redmond Mineral moved away from a strategy emphasizing low costs and low prices and adopted a strategy based on unique products, how did its HRM practices need to change to support the new strategy? The company will need to use what is called a differentiation strategy. According to Porter(2004), A differentiation strategy calls for the development of a product or service that offers unique attributes that are valued by customers and that customers perceive to be better than or different from the products of the competition.
The value added by the uniqueness of the product may allow the company to charge a premium price for it. The company hopes that the higher price will more than cover the extra cost incurred in offering the unique product. Because of the product’s unique attributes, if suppliers increase their prices the company may be able to pass along the cost to its customers who can’t find substitute products easily. Companies that succeed in a differentiation strategy often have the following internal strengths: * Access to leading scientific research. * Highly skilled and creative product development team. Strong sales team with the ability to successfully communicate the perceived strengths of the product * Corporate reputation for quality and innovation. Suppose Redmond Minerals has decided to hire an HR Specialist, and you are tapped for the job. Imagine that Rhett Roberts is particularly interested in how the Internet can improve the way Redmond does HRM. Identify three ideas that you would suggest? The three ideals that I would suggest on how the Internet can improve the way Redmond does HRM is Recruitment, training, and workforce planning.
Recruitment and training is probably the area of a business that is most associated with human resources – recruitment. Nearly every business in the world, and especially companies that are expanding, need to recruit people to work for them. Either current employees have left, or new possibilities have arisen which mean there are jobs that must be filled. It’s also important to keep your staff training procedures up-to-date to make certain that your workforce is fully capable of doing the job they are there to do.
Regardless of whether it is a fresh piece of legislation or a new bit of technology that alters the marketplace, there is an on-going need to keep your company up-to-date and prepared to take advantage of any opportunity. You may also find that the costly process of external recruitment can be avoided if your company has adequate training facilities in place. It is far easier to teach an existing employee to a higher level and then use outside recruitment to fill the gap left at the lower level than it is to recruit straight to a higher level.
This approach can be applied at almost every grade of management inside your business. The last ideal is workforce planning, which is the process of anticipating ahead of time the human resource requirements of any enterprise, both in terms of the number of employees necessary and the appropriate skill mix. We have seen the influence that human resource management can have on a company and overall it looks like good HRM will have a beneficial effect on any organization. As a rule, this is the case, but effective HRM doesn’t just occur overnight.
One way to apply HRM ideas to your company is through workforce planning – a system that has the aim of making sure your workforce can finish the upcoming tasks needed for your business to be successful. How well do your ideas support Roberts’s principles for running the company? Those three ideas support Roberts’s principles simply because companies don’t operate without employees. Companies also need some level of training and workforce planning for the business to operate in an efficient and profitable manner. Discuss how the owners willingness to change, engage and empower employees, had a positive impact on the organization.
With the workers being more productive for the company came with rewards such as an increase in pay, full tuition reimbursement, paying for personal development materials, contribution to bowling and gulf teams, money for employee’s birthday, and space for daycare and exercise room. Those incentives will boost employee morale. Reference Page Porter, M (2004). Porter’s Generic Strategies. Retrieved January 24, 2011, from http://www. quickmba. com/strategy/generic The Impact of HRM on Business. (2010). Retrieved on January 24, 2011, from http://www. the-best-ideas. net