Human Resources Strategic Planning and Measurement Task Force

In organizations today, the emphasis is on performance and the contribution of a function to the success of that organization. Senior managers demand evidence of effectiveness and efficiency. They need objective ways to measure achievement and strategically plan for the future. The heart of success at BANKS Industries is the HR department’s responsibility to guide managers in their ability to screen, hire, and retain quality employees.  

As part of the BANKS management team, you have been assigned to a task force that is considering how the HR department should be strategically involved as the BANKS workforce becomes more diverse and experiences expansion. As part of a preliminary discussion, you have been asked to generate a report on the following issues: 

•What should be the basis of the HR department’s goals regarding their responsibilities to support management during the screening, hiring, and retention stages of employees? 

•How do these goals strategically align with success for BANKS? 

•How should the HR department interact with and implement these goals for management and employees? 

•How will you measure whether the HR department has been successful in achieving its goals? Based on your research, what assessments can be used to determine success?  

Write an 8–10-page report in MS Word format. Apply APA standards to citation of sources. Plagiarism Free, Paragraphs Indented, Pages Numbered, RunningHeads Included, Cover Page Included, Reference Page Included, Grading Points and Assignment Criteria Followed.

By Monday February 12, 2018, Deliver Your Assignment To The Submissions Area.    

 Assignment Grading Criteria  & Maximum Points:   

Identified the basis of the HR department’s goals regarding their responsibilities to support management during the screening, hiring, and retention stages of employee management.  20  Points 

Explained how these goals are strategically aligned with the success of BANKS.  20   Points

Described how the HR department should interact with and implement these goals for management and employees.  20   Points

Elaborated on ways to measure whether the HR department has been successful in achieving its goals, including assessments used to determine success.  20 Points  

Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in accurate representation and attribution of sources; displayed accurate spelling, grammar, and punctuation.  20  Points 

Total:  100

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Module 1 Overview

Evaluate the sources of workplace conflict and determine appropriate techniques to resolve them that respect human differences.
Create work redesign approaches to improve performance under differing assumptions of employee skill and education level, compensation and reward systems, and cultural expectations.
Communicate the ethical implications of recommendations to change human resource and/or work flow systems given the presence of multiple cultural subgroups.

Click the graphic to view the profile of BANKS Industries.
BANKS Industries Overview

BANKS Industries is a manufacturing company located in Centervale. A US-based organization, BANKS’s major product line is electronics components. BANKS has just over two hundred employees at its main plant in Centervale but recently acquired a new subsidiary in China. This acquisition added close to one hundred employees, and their expertise in a new line of personal computing devices. BANKS expected these devices to give it a competitive advantage in its market, and with the product line continuing to grow.

BANKS started out as a family-owned organization with a relatively flat organizational structure. After fifteen years of being in business, BANKS continues to be family owned and has acquired several small companies in the United States. The acquisition of the Chinese company, which has now been renamed BANKS Components, is the first acquisition outside US borders. The transition has resulted in some drastic changes in policy, staffing, and the organizational structure.

As covered in Module 2, firms have a need for capital infusion to support day-to-day operations as well as strategic objectives. To meet these needs, either short-term or long-term financing is considered. This module explores methods of securing capital funds through two mechanisms—debt and equity. Unlike short-term financing, long-term financing consists of debt and/or equity and is better known as the firm’s capital structure. Arriving at the right balance between using debt or equity is not an easy task. It requires evaluating factors such as the tax effect, cost, and the cost impact on the firm’s value. Each source with varying cost implications has advantages as well as disadvantages. Pure debt is incurred when the firm issues any type of corporate bonds or obtains funds from a lender. Bonds and loans provide necessary funds without equity claims and allow the firm to increase profitability by claiming incurred interest cost. On the other hand, when a firm decides to issue preferred stock as its long-term financing strategy, the firm not only incurs a debt but also relinquishes a claim to earnings, assets, and fixed dividends. Unlike both debt and preferred stock, issuing common stock for the exchange of capital funds creates an equity claim with voting rights as well as a claim on future income. Equity financing has advantages and disadvantages

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BANKS Industries

Headquarters: Centervale, U.S.A.

Established: 1995

Industry: Manufacturing Electronic Components

Type: Privately Held

Status: Operating

Company Size:
Number of Employees in U.S.: 200
Number of Employees in China: 100

Business Description:

BANKS Industries was established in 1995 by Mabel and Larry Banks.

Mrs. Banks serves as the president and CEO. Mr. Banks is the executive

vice president of the company.

BANKS’s customer base includes some of the largest technology companies

in the world, covering computing, telecommunications, radio, and other

products. Having grown from fewer than ten to over 300 employees, the

company has achieved exceptional goals in production and sales.

Over the last fifteen years, BANKS’ has acquired several small companies

in the U.S. The latest addition to the BANKS crown is the acquisition of a

new subsidiary in China, which will add to the company’s expertise in a

new line of personal computing devices. This is BANKS’s first acquisition

outside of US borders.

BANKS prides itself on the family environment it has maintained from

its inception, and continues to place a great deal of importance on its

most important resource—its employees.

BANKS Industries

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