Sample BUMGT6958 Comparative Issues in International Management Essay 3

BUMGT6958 Comparative Issues in International Management Essay 3 Sample

Assignment Details

Identify an Australian company that has a global presence including southeast Asian countries (e.g., China, Japan, South Korea, Singapore, Malaysia, Taiwan, Indonesia, Thailand, Vietnam). Assume that the company has appointed you to manage its operation in one of these countries of your choice. The company CEO informs you that the board members meeting concluded that current business performance is below expectation. The CEO wants you to prepare a briefing report on doing the business and to identify at least three key issues that may have impacted the business performance and provide recommendation on how the identified issues can be resolved.

You will need to identify key issues that the business is experiencing within one of these three management area: a) Leadership and human resources, b) Operation, and c) sustainability.

Your essay must include recommendations about how the company should manage the issues that you have identified.

In your In report you should refer to at least 5 academic (peer reviewed) journal articles. Recent academic journal articles (with a publication date of 2014+) should be used. Your essay must meet the threshold of 5 recent academic journal articles.

Use a report format (executive summary, introduction body text--sub- headings can be used, recommendations, conclusion, reference list).

Solution

Introduction

The pecuniary performance challenges, mentioned above have greatly affected QBE Insurance, an international insurance organization in Malaysia. In the last board meeting, the board pointed at leadership and human resource management as the areas of urgency. For QBE Malaysia to run effectively with efficiency and sustain itself in the competitive environment, it requires effective leadership and sound HR practices because people are important assets, which provide efficiency in performance when motivated.

Key Issues with Respect to Leadership and Human Resource

1. Improper Hiring Practices in Relation to Required Skills

The following emerges as a major issue related to QBE Insurance Company comparing hiring practices among organizations that resulted in decreased staff productivity as well as organizational efficiencies. The need to employ broad matching criteria in the course of the recruitment process does not incorporate major features that define every position (Bilan et al., 2020). This actually not only causes an employee to lack some skills to enable him/her perform some functions but also creates a staff that offers inadequate performance to the company. Therefore, that is why poor performance is rampant known to affect growth and performance of companies and business entities for the assignment helpline.

In addition, there is increased inadequate development of specific recruitment techniques that could address high turnover positions. Technical positions that are difficult to fill or recommend tend to draw in applicants who are unfit for those jobs (Langenkamp et al., 2020). This is compounded by outdated recruitment process that do not incorporate modern means of assessment, for instance, psychometric testing or structural interviewing that maybe useful in order to know the suitability of the candidate for the job. Further, lack of integration between human resources and the departmental managers during the process of identification of the requisite job skills likely creates a misperception.

This inefficiency not only impacts the productivity of the worker but also slows down organization’s capacity to leverage human capital assets. The failure to employ integrated and effective methods in talent acquisition planning undermines such plans and generally slows down the achievement of its strategic plans and goals, thus the overall competitive advantage in the market is compromised. It is important to overcome all these recruitment challenges to enable company as well as its employees to realize their full potential and hence the performance of the business.

2. Ineffective Communication, Leadership Issue

The worker-manager relationship has a critical role of enhancing organizational performance through holding effective relationships yet at QBE Insurance, weak communication between leaders and employees has become a major thorn in the organization. When the communication breaks, it breaks operates a divorce between the management and the employees, distorting common team spirit on organizational objectives and slowing down the capability of executing strategic plans (Kalogiannidis, 2023). Supervisors fail to come up with standard operating procedures with clearly defined organizational goals and objectives, they never say anything good or bad about the employee’s performance hence demotivating employees.

Moreover there are other problems connected with prejudicial leadership complicating this picture. That is why if managers rely on prejudices at the time of decision-making rather than the results of the work of their subordinates, the conflict of interest occurs, and confidence is shaken. All these practices cultivate discontentment that guarantees that worthy performers will always feel ignored, thus restricting innovation and creativity (Gamil et al., 2023). Lastly, where employees feel that their employers do not appreciate them, they are quickly discouraged to work extra hard for the organization in question and this can lead to a drastic effect on morale. For overall high organizational performance to be realized at QBE, the organization needs to embrace good communication and proper dissemination of talent and work output.

The other strategic concern that goes through QBE Insurance is that there are few well-articulated leadership development and training policies. Leadership is always critical in helping direct subordinates, organizing people, and achieving carrying organizational objectives (Ciulla & Ciulla, 2020). In light of this, the failure to develop specific training activities hampers managers preparing to deal with their intricate responsibilities while operating under cut-throat competition. Thus, without proper development in leadership a lot of managerial work such as communication, feedback and motivation of subordinates becomes a challenge which tends to create a huge chasm between the managerial and the subordinate personnel.

Further, the use experience and expertise without investing in leadership development can extend ineffective or unhealthy management organisational cultures, for example, autocratic management or excessive supervision. The above approaches may also negatively affect participation and productivity among employees since the team members feel unmotivated and unembowered (Ciulla et al., 2020). As a consequence this can lead to a lack of confidence in the leadership; which inturn degrades morale and productivity.

To this end, QBE should ensure that the business has structures for the development of leaders that stresses key skills like emotion intelligence, conflict resolution skills and teaming. Since providing leaders in QBE with effective strategies as well as approaches needed to supervise their groups, it is possible to develop a new and more friendly working environment. In doing so, this will increase both the levels of satisfaction for employees and improve overall organizational performance; allowing the organization to respond effectively and capitalise on various threats and opportunities.

3. Poor Employee Retention Strategy

QBE is trying to help employees in working in a supportive environment and that’s why allowing diversity and inclusion (www.qbe.com, 2024). However, still employee retention is found as an issue for the business. A third key issue at QBE Insurance is the absence of clear employee retention policy that the company has generated very high turnover rates in the organizational culture. This problem is due to poor career development management, lack of well developed benefit systems, and lack of promotions rewards. In most cases, the performance of employees can be attributed to dissatisfaction with working environment, where they are convinced that there are better opportunities elsewhere. One bittering factor affecting the organization is the high turnover that forces the company to recruit, train and orientate new staff members constantly lowering organizational efficiency.

Furthermore, high turnover rate implies that an institution incurs a high cost of losing talented employees who would otherwise have contributed immensely to organizational memory through propose – template – test model. This knowledge loss not only hinders team objectives but also put pressure on other employees with tons of work to do. Such instability invariably results in a poisonous organisational culture that further leads to dissatisfaction and turnover. These are some of the reasons that expose an organization like QBE to such challenges; therefore the organization must embrace retention strategies that deal with EMPLOYEE ENGAGEMENT, CAREER GROWTH as well as have BETTER BENEFITS. The positive consequences of employee retention include positive changes to overall organizational performance, organizational climate, and organizational commitment (Ghani et al., 2022).

The major concern at QBE Insurance, therefore, is that there are not enough other forms of receiving feedback from the employees. Appropriate feedback mechanisms remain relevant in knowing what employees have to express, acquiring information about organizational practices and ultimately, change (Elsafty & Oraby, 2022). If there are no well-defined structures over which employees can communicate such information, the organization is left in a potentially dangerous situation where problems that are potentially lethal to its operations may go unnoticed and unresolved grievances may build up.

That is why when employees do not feel understood frustration increases and thus deteriorates their work output and productivity. Besides, no feedback tends to keep the organization unaware of its shortcomings, which in turn slow down its processes while offering little room for advancement. Workers who are encouraged to speak their minds, or participate in decision making, increase morale and therefore become more committed to the organisation.

In order to counter this issue, QBE should setup a proper feedback system, under which people can freely discuss with their superior. This could include the use of surveys, employee boxes where an employee can jog our memory in case we appear to have forgotten, and focus groups. If the organisation can actively search and engage in the different feedbacks which the employees can provide, they will be able to make a more accommodating and responsible environment in the workplace. This in turn will not only increase levels of employee satisfaction but also foster ownership and professional responsibility, all of which will lead to significant improvements in performance results throughout the organisation.

Recommendations to Manage These Issues

- Improving Hiring Practices

Recruitment is an important function in QBE Insurance since the right talents will go a long way in shaping the company’s performance; competency based recruitment will therefore be beneficial in enhancing the company’s intake of the right personnel (Li et al., 2020). This approach should start with meetings of departmental heads in order to comes up with standard job classification that would clearly indicate the required skills, qualifications and experience for each post. Incorporating specific psychometric tests and actual on-the-job skill simulations will go along way towards ensuring candidates wanted on the organisation possess the necessary competencies.

Further, as hiring tools and technologies for instance the Applicant Tracking Systems (ATS) are used, there will be enhanced match precision and efficiency in the recruitment process. In order to have a qualitative and competitive staff, QBE has to invest in cooperation with educational institutions and training centers to have a pool of candidates oriented on highly specialized positions. Moreover it will attract more potential candidates for internships and apprenticeships and also training, making the force more skilled and experienced. To sum it up, the idea of continuous training comes into play when most of the employees are on board to guarantee that they are ready to tackle with upcoming twists and turns of the market environment in which the company is operating.

- Enhancing Leadership Communication and Reducing Bias

This paper argues that another multifaceted approach to addressing communication problems and leadership bias is the introduction of a leadership- development program at QBE Insurance. It is essential that this program aims at improving emotional intelligence for leaders and managers, in addition to, increasing diversity. Through empowering the leaders to change their behaviour to promote equity in workplace, the organisation avoids prejudice issues such as discrimination and favouritism.

Further, the organisation should set up formal lines of communication including formal meetings, suggestion and feedback, and an open- door policy so that subordinate and senior management can share information (Carter et al., 2020). This makes it possible to provide a favourable climate within which the employees can raise their worries and offer their suggestions with regard to the organizational goals and policies.
To minimise bias, QBE should use fair set procedures and decision-making criterion where necessary especially for promotion and project awarding. It rewards dedicated hardworking individuals and also promotes better work, delivery since the employees are aware that they will be reposted accordingly to their performance and not based on any political influence. In addition, using the response from the employees anonymously will be vital in pointing out any prejudice within the managerial minutes, thereby taking essential steps to improve fairness across workplaces in the organization.

- Strengthening Employee Retention Strategies

From the above report it is apparent that to ensure little or no turnover in the company QBE Insurance it is needed to pay attention to factors such as compensation, both, monetary and non-monetary, and career progression. The other thing that the management should do is to continually conduct market research to determine whether what had offered as compensation packages put it in a good position to be able to retain the right talent in the current global market. Organizations can enhance employee satisfaction, and loyalty through such policies as performance incentives, health endowments, flexible working policies, and career advancement programs.

Also, to further enhance the effectiveness of the behaviour model, the company should ensure that there is recognition and appreciation of all performers in its organisation. The executive decision in the management strategy to instill employer-of-choice attributes to organizations involves the utilization of employee incentive schemes, whereby appreciable performance standards are rewarded frequently, contributes immensely to improved morale and enhanced performance (Ohunakin et al., 2020). It is critical to use engagement questionnaires from time to time so that communication of discontent can be made and the extent of retaining programs evaluated.

Finally, establishing and implementing one or more mentorship programs where junior employees are assigned to an experienced mentor, ensures organization develop supportive workplace and assists the junior employee in advancement within the organization. These sorts of actions may increase the probability of employee retention due to the fact that employee’s feel more connected to QBE and have more confidence in their careers with the company.

Conclusion

The conclusion section of this study identifies ten significant research issues affecting QBE Insurance in Malaysia: strategic issues and key challenges. At the heart of these conclusions, there are been deficits found within the leadership and human resource management processes. Pragmatically, bad hiring practice, unconstructive communication and mishandling of turnover issue erode the entire business and employee engagement badly.

This is the major reason why the current management of QBE Insurance needs to formulate better and more focused and solution oriented strategies.These are the major challenges that have necessitated a change of strategy in the insurance giant. This involves a fine-tuning of the recruitment processes in a bid to meet the necessary requirements of matching applicants to proper job descriptions, encouraging open and reliable leader- subordinates communication and effectually developing sound methods of retaining human resources while ensuring that the employees are engaged. Thus, if all these problems are addressed comprehensively, QBE will improve the workforce productivity and, in the process, boost the chances of achieving business objectives.

The effective integration of the mentioned recommendations will not only increase organizational performance but will also enhance its competitiveness within the insurance industry area to cope up with the existing problems and look for the opportunities for QBE. As the management of QBE embraces these changes it can again build a strong and competent workforce that will, in turn, help it post a repeat successful performance in a growing market.

References