Details about Manpower Downsizing Essay
By downsizing human resources, the true reflection about the number of employees who need to be employed in order to accomplish some specific job can be known (Yogesh 2009). Thus, manpower downsizing is very fundamental in attaining the require growth ambitions that the banking institutions in the UAE could have. Through capacity or resource building, manpower downsizing is capable of determining the correct prices at which the banking institutions in the UAE could avail their product or service offerings (Yogesh 2009).
Manpower downsizing if well practiced by the banking institutions in the UAE would go along way in ensuring that the right employee is doing the right job at the right time and in the right place (Yogesh 2009). Thus manpower downsizing is a very integral component of manpower planning whose primary concern is to maximize the use of the greatest resource an organization could ever have, the human resources (Yogesh 2009). Manpower Budget Core Process Budgeting is an important element in the process of undertaking manpower planning.
This is because of the fact that the budgeting process when done effectively can improve the managerial effectiveness. The manpower budget core process should incorporate both the senior financial analysts together with the financial
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Thus, if banking institutions in the UAE could adopt dedicated planning applications, the banks will be in a position to change planning from an activity that consumes a lot of time into a procedure that is less time consuming (Cognos Enterprise Planning 2004). At the same time, the planning process would go along way in adding value and improving the way the banking institutions in the UAE performs in general. In line with the above therefore, the manpower budget core process should strive to control expenditure in a more effective way and in an intelligent manner during hard economic periods (Cognos Enterprise Planning 2004).
Similarly, the budgetary process should strive to be more accountable by the business managers of the banking institutions in the UAE participating at a higher level in the planning process. It would also suffice if visibility into the business was deepened as way of improving the decisions and that the banking institutions in the UAE enhance their accuracy during the planning and budgeting process (Cognos Enterprise Planning 2004).
Succession Planning and Diversity Management As must have been noted earlier, during the course of their growth and development, it would be very important for the banking institutions in the UAE to begin thinking of their future managerial teams (Bratton & Gold 2003). In this regard the succession planning and diversity management would play the best role in offering the require continuity in the management of the above institutions (Bridge Partners LLC. 2006).
In that regard, the banks can have the option of choosing from internal or external candidates. Succession planning is very vital tool in the accommodation of differences, valuation of differences, dissolution of differences, and in the utilization of differences. Though the internal candidates may have the advantage of having been acquainted with the organizational culture, as a way of managing diversity, the banking institutions in the UAE can choose to employ external candidates (Bratton & Gold 2003).
It should be pointed out that external candidates would be very appropriate in situation where the institutions anticipate periods of fast expansions and having the potential of bringing fresh ideas and new sets of skills (Bridge Partners LLC. 2006). A succession planning strategy should strive to include diverse executives at the middle- level management (Bratton & Gold 2003). The fundamental issue in the initiatives of successful diversity recruitment is that the candidates need to be approached from a broader variety of sources beyond the normal networking (Bridge Partners LLC.
2006). This can be done by venturing into new avenues and making use of the services offered by recruitment agencies capable of recruiting candidates from diverse geographical backgrounds (see figure 3 in the appendix). In order to retain the diverse workforce, it would be necessary for the banking institutions in the UAE to have clearer career management paths, trainings and work life balance policies among others (Bridge Partners LLC. 2006).