Forbes Marshall Human Resource Management

Introduction

Forbes Marshall, headquartered in Pune, Maharashtra, India, is a multinational process and energy automation solutions, provider. Currently, the company specialises in manufacturing control instrumentation products and steam engineering. It also specialises in products and services of control and monitoring, process optimisation, and steam efficiency. Forbes Marshall has subsidiaries across the globe; in the US, Canada, Colombia, India, and Egypt. The employees’ size ranges from 1001 to 5000 employees. Each day, the firm connects with more than 1250 customers worldwide. Its primary competitors include Astronics, Etteplan, Munters, and Ultra Clean Technology. The company takes pride in the way it offers solutions, surpassing consumer expectations on delivery and quality. Forbes Marshall aims to help set up and sustain highly effective plants by optimising energy and process efficiency, abiding by regulatory requirements and reducing waste. When the founder, Darius Forbes, set the company on the path of energising businesses and communities globally, he said: “We were always conscious that we were selling more than mere equipment. We were selling increased production, improved product quality, production at a lower cost and quite often a combination of all three” (Forbes Marshall, 2022). His remarks have since become the mission of the Forbes Marshal, with a vision of adding value to communities and customers every day.

Aim and Objective

By undertaking this task, I aim to:

  • Achieve a more profound understanding of Forbes Marshall’s Company profile
  • Understand the company’s human resource management (HRM) practices and how they help it achieve its goals and objectives.
  • Provide some recommendations on how Forbes Marshall can enhance its human resource management practices

Critical Analysis

HRM Practices and Their Influence on Organizational Behavior and Strategy

Forbes Marshall goes the extra mile for its members. Several HRM practices have been appreciated by the firm’s stakeholders over the years. Given the organisation’s high regard, Forbes Marshall’s HR framework revolves around its touch point with people. There are mechanisms to ensure every member is engaged and spoken to at least once every quarter to assess the organisation’s pulse (Forbes Marshall, 2022). This HRM practice fosters the company’s inclination to employee engagement. It enables employees to feel connected to their organisation, the work they do, and their teams. Highly engaged employees affect nearly every strategy of the organisation as they significantly contribute to increased profitability, customer experience, revenue, and employee turnover. By engaging the employee, Forbes Marshall helps them perform better, improving the success of their teams and, generally, the company’s outcomes.

In an attempt to grow the company’s strong family spirit, HRM has set up a cross-functional team that balances the emotional, psychological, and physical well-being of the employees and their families. This team, dubbed World of Wellness, focuses on fostering well-being initiatives for stakeholders that revolve around seven spokes of wellness – financial, intellectual, physical, emotional, occupational, and spiritual(Forbes Marshall, 2022). When an organisation prioritises well-being, employees experience less stress and more happiness. Since employee wellness touches nearly every aspect of the employees’ working life, it substantially affects engagement, retention, and business success (Cartwright & Cooper, 2009). When Forbes Marshall’s members are happy and healthy at work, they help the company become productive and strengthen its culture.    

Besides trying to reunite divorced families and supporting the education of employees’ children, Forbes Marshall has a Family Day. The company invites members’ families to visit their workplace every quarter. This initiative enables the employees’ families to connect with the firm at an individual level. The members initiate a strong rapport with the organisation and, thus, support its long-term plans. The HRM has also taken affirmative actions to include women in the workforce. To draw a distinction between working-life and personal-professional, Forbes Marshall acknowledges the tight rope working women walk in trying to manage both work and home. HRM has a special day called Meljol where lady members are allowed to bond during working hours (Forbes Marshall, 2022). There is also a cross-functional committee formed by women members of the organisation and women spouses’ members. The committee focuses on parenting, skill development, emotional wellness, and health. This practice leads to an equilibrium that enables workers to balance their career and personal life. Work-life balance is essential as it helps Forbes Marshall to continue attracting and retaining top talent (Obiageli, Uzochukwu, & Ngozi, 2015). This practice has a significant implication on employee behaviours, attitudes, and organisational effectiveness.     

In all people-related decisions, Forbes Marshall’s HRM chooses to be a facilitator. When deciding where to hire new employees, who to bring on board, and what to deliver, HR facilitates the entire process instead of assuming the commanding position. The firm’s middle and top-level managers are also expected to take ownership of all decisions related to HR and be involved in initiating and implementing people-centered strategies. HR at Forbes Marshall is responsible for measuring employees and their individual contributions to the company’s success. This helps members to understand what is expected of them and the value they add to the business. HR managers as facilitators provide members with clear expectations of the work to be done, manage the limitations that can affect the team’s work, and monitor employees’ processes to increase organisational productivity (Chelladurai & Kim, 2022). As facilitators, HRM empowers team members to make decisions and resolve issues as they occur. They also play a vital role in helping the Forbes Marshall to plan and meet its goals.

Components of HRM, Organizational Strategy, and Organizational Performance

In essence, human resources management has the task of planning, recruitment, compensation, development and retaining workers in accordance with the company’s goals. This requires strategic and sustainable planning as well as a suitable corporate culture. In detail, Forbes Marshall’s human resources management is divided into the following components or functions:

  • Workforce planning: HRM planning deals with the short, medium and long-term needs of the company need for employees and their qualification. The aim is to have the right employees available at all times.
  • Recruitment: As soon as it is foreseeable that a position will become vacant in Forbes Marshall, new employees have to be recruited. However, the search for personnel does not only have to be carried out externally, but can also be carried out internally. In this firm, recruitment mainly involves creating a requirement profile, placing job advertisements, applicant management, and personnel selection.
  • Compensation: Compensation includes the monetary benefits that Forbes Marshall pays its employees. Above-average remuneration makes it easier for this company to find and retain highly qualified employees. By linking the remuneration to the service provided, the motivation and goal orientation of the employees is promoted.
  • Human resource development: In Forbes Marshall, human resource development involves a systematic maintenance and improvement of employee skills. Common measures taken by the organisation include training, coaching, mentoring programs and retraining.
  • Personnel controlling: Personnel controlling includes the planning, control and management of human resources processes using appropriate key figures.

Forbes Marshall’s functioning human resources management contributes significantly to its success. The strong HRM that sees itself as a business partner has formulated three main goals that are of strategic importance for the long-term success of the company. These goals are in line with the four human resource outcomes in the 4Cs Harvard model of HRM.

Knowing and bringing together company goals and employee wishes: Reconciling the wishes of the employees with the business goals is the crux and supreme discipline of Forbes Marshall’s human resources management. The social needs of the employees (free time, family, among others) often conflict with the company’s economic goals (profit maximisation, expansion) because younger generations of employees, in particular, are rather critical of the purely financial need for success. This is where HRM starts to listen, take concerns seriously and implement solutions within a strategic framework of family spirit. By integrating company goals and employee desires, Forbes Marshall enhances their Commitment, identification with the organisation, and personal motivation in their work (Shahnawaz & Juyal, 2006).  

Achieve and maintain a high level of employee satisfaction: Forbes Marshall has managed to keep fluctuation as low as possible and retained the right people for the organisation’s long-term success. Numerous studies have proven that a satisfied employee is more productive and, at the same time, more creative. The company uses all the possibilities of employee loyalty to show development paths and convey perspectives. This enables the company to achieve Congruence where every employee portrays different capabilities from their colleagues. Satisfied employees are also committed to honing their Competence, knowledge, skills, and abilities (Kuriyama, 2020).  

Achieve sustainability through cost reduction and ensure greater competitiveness: Forbes Marshall HR management has succeeded in making employees happy and retaining them in the long term. This has resulted in decreased labor costs. For example, the level of absenteeism due to illness is falling, resulting in lower costs and greater competitiveness. Therefore, the company’s HRM has been able to achieve Cost-effectiveness by attaining and meeting benefits obtained at the lowest input cost (Paauwe, 2004). 

Pillars of HRM Practices

Forbes Marshall HRM management practices are founded on three pillars:

Employee development: Forbes Marshall is committed to providing its team with the requisite skills to improve day-to-day work, get better outcomes, and boost the company’s bottom line. Employee development in this company is done in various ways, including competency mapping, learning and development initiatives, and performance management systems. For example, Forbes Marshall has adopted competency mapping to determine the knowledge, skills, abilities, and behaviors a job title requires. Competency mapping optimises employee performance, streamlines the hiring process, and improves productivity and morale (Sánchez Carracedo et al, 2018). 

Communication: Forbes Marshall has set up communication channels for demographically diverse employees. To uphold the spirit of accountability and transparency in every undertaking, Forbes Marshall has initiated numerous feedback channels such as customer experience surveys and employee engagement. Effective communication has contributed to the success of this organisation in various ways. It has driven their commitment and loyalty and helped them comprehend the terms and conditions of their employment. Communication also ensures employees have a voice, and that voice provides vital feedback that Forbes Marshall requires to improve and grow (Paramita, Lumbanraja, & Absah, 2020). 

Corporate Social Responsibility: Since its establishment, Forbes Marshall has believed in the idea of contributing and giving back to the community it operates in. The company usually works in partnership with NGOs with special knowledge in different areas and like-minded thoughts on how to make positive changes happen in the people the company is touching. CSR initiatives support the firm’s overall strategies and goals. CSR provides an insurance-like effect on financial performance against contentious events of the organisation. The initiatives also boost employee organisational commitment and organisational performance. 

Recommendations and Conclusions

The HR department is an integral part of the strategic management of a company. For a company’s long-term success, it is necessary to recruit the most essential resources of a company – the employees – to develop them optimally and use them strategically. The HR department occupies a vital position in the entire company organisation and is indispensable for smooth day-to-day work. To ensure that there is always a sufficient number of qualified employees in the right places in the company; the HR department must be appropriately well structured and organised. Despite the ideal HRM Forbes Marshall, there is still room for further improvement by adopting the following recommendations:

Forbes Marshall has done it by ensuring the structure of the HRM is in place. However, the organisation should not rest on its laurels – tasks and priorities are constantly changing, and the approach should be constantly evaluated and adjusted accordingly. The good thing about a fixed structure is that it provides a stable basis for change and allows the management to react flexibly to new situations. It is best to get constant feedback from the team and other employees to constantly improve the department’s organisation and adapt it to current requirements. Therefore, Forbes Marshall is obliged to design more state-of-the-art feedback channels to enhance organisational communication flow.

Transformation in HR requires digitisation. On the one hand, it is about digitally aligning one’s own HR strategy. Above all, this means digitising HR processes and structures within HR work. For example, a digital workflow can significantly accelerate the process of hiring applicants until the contract is signed. Digital applicant management also makes HR work more efficient. Digital tools and HR software can make an enormous contribution to daily HR work and save Forbes Marshall a lot of time, resources and work. Today, board members and managers of social economy organisations expect the HR department to work with creative methods. All digital and analog methods must be used to recruit good employees. 

 

References

Cartwright, S. and Cooper, C.L. eds., 2009. The Oxford handbook of organizational well-being. Oxford Handbooks.

Chelladurai, P. and Kim, A.C.H., 2022. Human resource management in sport and recreation. Human Kinetics.

Forbes Marshall, (2022). Our History. Retrieved from https://www.forbesmarshall.com/About/About-Forbes-Marshall > Accessed on 31st July 2022

Forbes Marshall, (2022). Our People Practices. Retrieved from https://www.forbesmarshall.com/People-Practices  > Accessed on 31st July 2022

Kuriyama, N., 2020. Formation of the Concepts of Human Resource and Human Resource Management: Transformation from Industrial Relations and Personnel Management (A Research Note).

Obiageli, O.L., Uzochukwu, O.C. and Ngozi, C.D., 2015. Work-life balance and employee performance in selected commercial banks in Lagos State. European journal of research and reflection in management sciences3(4).

Paauwe, J., 2004. HRM and performance: Achieving long-term viability. Oxford University Press.

 Paramita, E., Lumbanraja, P. and Absah, Y., 2020. The influence of organizational culture and organizational commitment on employee performance and job satisfaction as a moderating variable at PT. Bank Mandiri (Persero), Tbk. International Journal of Research and Review7(3), pp.273-286.

Sánchez Carracedo, F., Soler, A., Martín, C., López, D., Ageno, A., Cabré, J., Garcia, J., Aranda, J. and Gibert, K., 2018. Competency maps: an effective model to integrate professional competencies across a STEM curriculum. Journal of Science Education and Technology27(5), pp.448-468.

Shahnawaz, M.G. and Juyal, R.C., 2006. Human resource management practices and organizational commitment in different organizations. Journal of the Indian Academy of applied Psychology32(3), pp.171-178.