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Maersk compensation philosophy

15/12/2020 Client: saad24vbs Deadline: 2 Day

Milestone 1:


The human resource segment is a significant body of an organization or company or any


business body. Anytime the human resource department is mandated in processes of


development and implementation; these processes at any given point should align with the


companies or organizations strategic plans and mission. The human resource departments


undertake various functions such as management of performance, recruitment, compensation,


and training. These roles are essential to an organization, but there is the need for strategic


planning to enable the functions to add value by promoting development and ensure productivity


in the organization (Buller, & McEvoy, 2012). Therefore, it’s crucial to align human resource


functions with an organizational strategic plan.


For a company to have an excellent strategy delivery the human resource must be


incorporated; this enables the human resource department to ensure the choice of the qualified


personnel who will deliver the organizations ambition and enhance development. Secondly, the


alignment ensures adequate training and development. Lastly, there is improved recruitment and


retention of employees, therefore, giving them job security hence more productivity.


The Maersk industry has brought a significant impact when it comes to human resource


management practices within an organization. The industry has incorporated human resource,


and strategic planning and these have enabled the industry to recruit qualified personnel, training


of the staff and lastly retention of the hired employees. Besides that, the fact that the human


resource management has been aligned by strategic management, there has been improved plan


delivery which has largely contributed to productivity in the industry.


The Maersk Company incorporated both the internal and external recruitment strategies.


In the early years the internal recruitment strategy was primarily incorporated. In this approach,


individuals were recruited right after school. Trained for two years and then allowed to work in


the various sectors in the organization. While in the external kind of recruitment, individuals who


are qualified outside the organization were hired to work.


Between the year two thousand and eight and two thousand and twelve under the new


management of Allen as the human resource; the human resource department was aligned with


strategic planning making the company fit in the twenty-first century. The company came up


with a few strategies that were to govern the recruitment process (Groysberg, & Abbot, 2012).


External recruitment was incorporated. To support the growth of the industry experienced


personnel and managers were to be recruited. To meet the needs of the industry recruitment was


based on experience and training was increased for the employees in place.


Nevertheless, the Maersk industry focused on performance therefore for the employees


who underperformed were retrenched; this is an exercise that was never performed before. On


the other had hiring became a group function where rotational programs were incorporated hence


creating an employee culture in the industry. Under the new management, a few processes were


integrated to ensure talent management they included: attraction, identification development,


deployment and scenario planning.


Under Allen’s management the industry’s human resource a new recruitment process was


implemented. I would recommend the process implemented is effective despite the few


challenges that arise when it comes to deployment and many others (Bamberger, Biron, &


Meshoulam, 2014). The process led to improved performance and increased levels of


transparency and responsibility among the employees and managers.


All in all, it’s essential for the human resource department to be aligned with strategic


planning due to the numerous advantages it brings to the industry. On the other hand, for a


company to have employees who ensure excellent performance, transparency and take much


responsibility for what they do; the management must incorporate standards that will govern this


team. In instances where employees do not perform deployment is not exceptional.


Milestone 2:


It is important to do an assessment during an organization training for numerous reasons. It will


allow an organization to view which level an employer is on for the organization needs. It will


also allow an organization to not waste funds on people that do not qualify for the job. A training


needs assessment is a way to find the right person that has the right focus and amount of


experience for the job. The training also will show how fast a person is able to grasp the


materials needed to perform well. Most employees have some weaknesses or not enough


experience in their workplace environment. Training assessment accumulate information about a


particular job function. It is an analysis that identifies the key tasks, competencies and skills that


are required to perform the job proficiently. Training needs assessments are a dear means, but


also a necessity, in order to enhance, not only the existing but also, the predictable needs of the


organization. The components of the needs assessment to determine the training requirements of


a Customer Service- CARE Business Partner at Maersk is organizational and task analysis.


Organizational analysis is the process of reviewing the development, work environment,


personnel and operations of the business. Maersk provides a detailed description of the


organization. Maersk also explains what they have to offer and what they are looking for as far


as the job requirements. Maersk also provide job seekers a background of the company so that


they can kind of get an idea of what type of organization they are applying to. Task analysis is


the process of learning about ordinary users by observing them in action to understand in detail


how they perform their task and achieve their intended goals. The importance of creating


“SMART” objectives for training plan is beneficial to everyone in the organization. SMART


principle can help you organize and reach your goals one step at a time. Specific goal setting is


to plan exactly what is needed to accomplish the goal in the organization. It must be clear and


should not be uncertain so that you can know exactly what is expected from the goal. Measuring


goal setting is to determine the timeline of how long it may take to work on that particular goal


to be perfect. You would add dates for when work start, in progress, and completed. Achievable


goal settings are knowing that it can be done. They should be strained slightly so that they can


get a challenge out of it, but easy enough to where your able to accomplish the goal. Realistic


goal setting is real life goals and not make believe or a wish. It is a goal that is possible to


yourself. Time oriented goal setting is simply a deadline to getting something done. The


importance of developing learning activities for a Maersk Customer Service-CARE Business


Partner training program is to be able to offer good service as well as products to customers in


the market. Based on the job description you automatically assume that the organization is


looking for someone that already has experience in the required fields listed under the job.


Maersk is looking for someone that is already experienced which is common seeking for and


mature adult.


Milestone 3


HRM’s success in Performance Management.


The HRM is a vital organ of any given firm, concerned with every activity where people


are actively involved while the performance management system is involved in motivating,


training and ensuring the welfare of the employees in the firm. These two departments work hand


in hand to ensure maximum productivity. The role of HRM in Performance system is to provide


fair performance systems. This can be achieved ensuring reasonable working conditions. Also,


HRM is involved in training managers on the performance systems to ensure they properly handle


the employees assigned to them. Another lob of HR in PM is also making transparent production


processes to the workers. Managing relationships between employee and the manager are also


handled under this docket. The success of the firm solely depends on how motivated and educated


the employees are (Alfes et al. 2013). Making sure maximum productivity of each employee is


reached explains the role of HRM in performance management.


Performance appraisal processes define how an organization evaluates the employee's


strongholds and weaknesses based on performance with the aim of setting new goals (Alfes et al.,


2013. One type of an appraisal system is the trait-based; relies much on personal attributes such as


punctuality and helpfulness. Supervisors use checklists with ratings. The system is applicable in a


bank marketing situation where employees can be checked the based level of a minimum number


of people buying the product, opening different account types. Another performance appraisal


system is the Behavioral- Focused; rates employee’s actions with a rating scale. Graphics rating


employs a sliding scale ranging from excellent to poor with the exemplary employees rated


excellent, average at the middle and poor at the bottom. This system can be well suited for a


customer answering mode evaluation (Armstrong & Taylor, 2014). The system can be


programmed to evaluate and rate the quality of conversation through asking the client to assess the


employee’s delivery. Result based appraisal system measures performance by evaluating the


extent to which the predetermined objective established has been completed successfully. The


system is applicable in sales objective where a specific set amount say $100,000 is the set


minimum goal for each salesperson.


The most suitable appraisal system for any customer service company is the trait based.


Handling clients are susceptible and the key to keeping them in business, this is the reason the


trait-based system is best suited Maersk Customer Service-Care Business. The system picks the


best combination of elements required to gently handle and interact with clients and other workers


as well. To flourish, the customer care department of any business requires punctual, gentle, self-


motivated, reliable person to handle customers (Armstrong & Taylor, 2014). The customer relation


can be rated using a graphic rating scale that’s easy to interpret.


There is a variety of scales applicable to rate performance. They are quite easy to integrate


and maintain. Most of them have up-to five options; a definite description is necessary to enhance


effectiveness. Each has its merits and demerits. Both the numeric and letter scales are mostly used


in quantitative analysis of results. The difference is that the numeric scaling employs the use of


number while the message uses alphabets to rate the output. The scales vary between


organizations, but the standard approach is 5= excellent, 2= Average and 1= Poor while C=


satisfactory, B= good and A= Excellent for numeric and letter methods respectively. On the other


hand, the graphics approach can have a more extensive scale of points making it easy to use. It


gives space for the appraiser to mark to rate. The problem with this scale is that its prone to error


and may not accurately represent the employee's efforts. Finally, descriptive scales are detailed


and assigned a value and a small description. In this approach, the appraiser is not forced to


quantify performance.


Milestone 4



The compensation philosophy of Maersk describes a comprehensive policy document


that is established by the human resources in collaboration with the line managers to provide


guidelines for employee compensation in the company (Deb, 2009). Additionally, the


compensation philosophy describes the commitment of how Maersk values its employees. In the


case study, Maersk uses the compensation philosophy to explain how its total rewards are


structured in relationship to current market prices. Maersk relies on section 139 of the Danish


Companies Act to construct its specific agreements and policies about the all the incentives and


benefits of its employees.


In the case study, the compensation philosophy of Maersk comprises various components


that include the remuneration of the management board, short-term cash incentives, long-term


incentives, stock options and discretionary benefits. As with the remuneration of the


management board, the compensation philosophy allows the members of the management board


of Maersk to receive fixed base salaries. Additionally, each member of the board is eligible for


some incentive compensations that consist of the cash incentive opportunity. The short-term cash


incentives enable Maersk to incentivize high-performing members of the management board.


However, the compensation philosophy of Maersk is subject to the influence of the


market. The compensation philosophy changes as the market value of Maersk’s jobs change. The


human resources department of Maersk would increase the remunerations and benefits of


employees if its job positions became more competitive in the market. The increase in


remuneration and benefits aims to retain the talents and employees working for Maersk.


Furthermore, the increment of benefits and remuneration might attract new employees and


talents.


The Value of the Salary Surveys to an Organization


Salary surveys involve gathering information regarding employee compensation, with


several employers to determine the pay levels for job categories (Gueutal & Stone, 2005).


According to Gueutal and Stone (2005), salary surveys are conducted by sector, region or even


job classification to facilitate comparability of salaries. Hence, salary surveys provide an


essential and necessary information for building competitive pay structures for an organization.


Fundamentally, properly designed salary surveys enable an organization to formulate an


effective compensation plan (Gueutal & Stone, 2005). Gueutal and Stone (2005) argue that


salary surveys ensure that the compensation plan is internally equitable and externally


competitive. Conversely, lack of salary surveys might lead an organization to formulate a


compensation plan that is internally unequitable, and that is not competitive externally. When


designed and utilized properly, salary surveys could provide meaningful and useful


benchmarking information to organizations for comparing various salaries and benefits (Gueutal


& Stone, 2005). Lastly, salary surveys enable an organization to retain, attract, and motivate


employees.


The process of comparing different organizational roles to the salary surveys market data


help an organization to construct a competitive compensation plan. However, an organization


requires having a deep understanding of its compensation philosophy before tailoring a


compensation strategy (Gueutal & Stone, 2005). The second step involves defining the major


COMPENSATION PHILOSOPHY OF MAERSK 4


roles within the organization including the current job descriptions for each job position.


Accurate job description information facilitates the process of comparing market data and how


the organization is paying its employees.


Advantages of the Discretionary Benefits to Maersk


Discretionary employee benefits are benefits that the law does not necessitate the


employers to provide to their employees (Battaglio, 2015). Maersk is one of the organizations


that provide the discretionary benefits. Most people would think that discretionary benefits are


useful to the employees only. According to Battaglio (2015), discretionary benefits are also


advantageous to an organization. One of the advantages of discretionary benefits to Maersk


includes building positive relationships. In the case study, there is a positive relationship between


Maersk and its employees. Secondly, discretionary benefits boost productivity (Stewart, 2008).


The employees of Maersk are becoming more productive after receiving discretionary benefits


because they are motivated to perform better. Lastly, Maersk can match competitors’ benefits.


As such, Maersk can attract and retain the best employees. Provision of discretionary benefits


allows Maersk to gain a more competitive advantage than its competitors that do not offer


discretionary benefits.


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