HUMAN RESOURCE MANAGEMENT PRACTICES IN SQUARE PHARMACEUTICALS
Human Resource Management (HRM) involves all management decisions and practices that directly affect or influence the people, or human resources, who work for the organization. In recent years increased attention has been devoted to how organizations manage human resource. This increased attention comes from the realizations that an organization’s employees enable organizations to achieve its goals, and the management of this human resource is critical to an organization’s success. The presence of human being is no new invention but identifying them as resource in a more formal way has been made in recent days. The history of HRM can be characterized as moving through four broad phases as craft system, scientific management system, the human resource relation approach, and the current organizational science such as human resource approach.
2. The training in craft skills was organized to maintain an educate supply of craft workers and started in Egypt and Babylon from the earliest times. By the 13th century craft training become popular in Western Europe. Craft guilds supervised quality and methods of production and regulated conditions of employment for each occupation. The basis of scientific management is that there is one best way to do a job. The best way will be the most efficient and therefore the fastest and least expensive. The founder of this new field of scientific management was an American mechanical engineer, Fredrick W. Taylor (1856 – 1915). The discovery of the Hawthorne, an western electric’s plant in Chicago effect led to further research on the social factors associated with work. Results of this studies led to the human relations movement with its emphasis on the fact that employees need to be understood in order to be satisfied and productive. Finally the organizational science approach focuses more on the total organization and less on just the individual. HRM, as we currently know it, grew out of the organizational science trend and combines learning from the previous movement with current research in the behavioral sciences.
The study of this paper focus on how the human resource is practiced in Square Pharmaceuticals Limited. Square Pharmaceuticals Limited is one of the leading companies in the country in producing medicine and other related products. The company was first established as partnership firm in 1958. It was then incorporated as a private limited company under company act 1913 on November 10, 1964. On December 1994, it was converted into a public limited company and offered its share to the public with the approval of Securities and Exchange Commission (SEC). Presently the company has a separate division to operate modern basic chemical factory and produces basic chemical products. It also has an Agro Vet division producing Agro Vet products.
Background of the study
The Study is conducted with a view to submit a term paper on the topic as a part of Strategic Human Resource Management Course. A proposal was presented on the topic and the instructor accepted it. Thereafter, the group started working and the result is this report.
Objectives of the study
5. The objectives of the study is to identify the following fields of HRM and relate them with the current practices in SPL : a. Brief history of the organization.
b. Human Resource vision and strategy.
c. Human Resource planning.
d. Acquiring Human Resources.
e. Building performance.
f. Rewarding employees.
g. Maintaining Human Resources.
h. Managing multi-national HRM.
i. Making the change to Strategic HRM.
Scope of the study
6. The study was restricted within a single pharmaceuticals company with emphasis on Human Resource management planned and practiced in company headquarter.
The study followed a certain method to collect data and analyze the Human Resource Management practices of the...
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