What is CIPD 5CHR Assignment Help Examples?
CIPD (Chartered Institute of Personnel and Development) 5CHR (5CHR – Developing Professional Practice) is a qualification course designed for individuals who want to enhance their knowledge and skills in HR (Human Resources) management. The course requires students to complete various assignments, including written reports, case studies, and presentations.
The 5CHR assignment typically consists of a written report based on a case study or real-life scenario. The report should demonstrate the student’s understanding of key HR concepts and their ability to apply these concepts to practical situations. The assignment might cover topics such as employee relations, performance management, recruitment, and training and development.
Examples of 5CHR assignments could include analyzing the effectiveness of an organization’s employee engagement strategy, developing a performance management plan for a team or department, or creating a training program to improve diversity and inclusion in the workplace.
Students may also be required to provide recommendations based on their analysis and findings. To achieve a high grade, the assignment should be well-structured, based on credible sources of information, and provide clear and concise conclusions
5CHR CIPD Assignment Help Examples as Explained by our Experts
AC 3.1, 3.2) (2,200 words)
As an experienced HR Manager, you have been asked to produce a discussion paper to be delivered in support of a seminar at a Leadership Development Forum. The seminar is entitled ‘HR’s contribution to organisational performance.’ In order to facilitate discussion in the right direction, your paper should cover the following 2 key areas
1. BUSINESS PERFORMANCE
Give examples of how business performance can be evaluated (AC3.1)
The Human Resource function, through the professionals who work within it, undertakes the responsibility of efficiently delivering the corporate strategy and organisational goals by efficaciously recruiting the employees, managing their performance and thereby assisting in the development of their skills. Employees are the foundation of an organisation. The right people working in the right place at the right time contribute to its success. Business performance comprises the measurement of the actual outcomes of business against the desired objectives. The evaluation of business performance is one of the major responsibilities performed by the HR team. Some of the examples to evaluate the business performance are provided below.
Return on Assets (ROA)
ROA is a tool to understand the overall performance of a business. It is an indicator of the profitability of an organisation in relation to its total assets. ROA provides the investors and analysts comprehensible facts about the productivity of the management team. It is utilised to understand the efficiency of the business to use its assets in order to generate resources.
ROA is calculated by dividing the net income of the company by total assets. The ratio thus obtained is a measure of how the company uses its resources in an effectual manner for business performance in a financial year. The result is represented in the terms of percentage. The higher percentage of ROA for a business connotes better performance of the company.
ROA doesn’t take a company’s debt into account. It is not perfect but is still one of the most accurate methods to assess business performance.
It is an essential tool for the evaluation of business performance. It is a comprehensive tool to estimate of achievements of the company against the objectives that were initially set. This process involves the following steps:
- Development of performance standard.
- Evaluation of the results against the performance criteria.
- To verify that the outcomes align with the organisational objectives.
Performance management also involves the use of Key Performance Indicators (KPI) which is a calculable measurement to determine a business’s performance. Companies generally employ analytics software for the purpose of measuring and tracking KPIs.
The workforce of a business is the most crucial part of it. They are responsible to execute the business plans in order to achieve the goals. The average number of people who turn up for work on a regular basis is pivotal for the smooth functioning of the organisation. Determining the average employee attendance is an indirect but nevertheless, important way of evaluating the business performance as a low attendance would give rise to lower performance in business. Fora business to be progressive and to have a steady rate of productivity, it is essential that the workforce have higher average attendance while a higher number of absentees will negatively reflect on the business performance (Purcell and Kinnie, 2007). The companies are therefore regularly engaged in devising mechanisms to encourage higher attendance with intent of maintaining business performance.
Explain how HR supports the business to maintain performance through business planning and change management.
The Human Resource functionaries are required to strategically align the human resources with the organisation’s objectives.
An efficient way by which the human resource supports the business performance is through business planning. It is the process of defining the company’s future operations and strategies to line up with its objectives with intention of ensuring success and maximising growth. Business planning is a continuous process and it evolves with the course of time whenever the need arises.
Human resource ensures that the focus of the planning is directed upon the vision and values of the company. HR functionaries are crucial for the strategic planning of a business as they oversee the business-wide performance of the staff. They play an instrumental role in the attraction and retention of talented employees as well as the utilisation of such employees to achieve business growth.
One of the key elements of human resources in planning is resource planning. HR professionals work proactively with the people on the top of the hierarchy chain to allocate resources for recruitment. They focus on the development of business-specific metrics to compute the competence of candidates. They reduce the inefficiency in the recruitment process and thereby ensure that the right candidates are hired to fulfill the desired role. They are also responsible to construct programs to align the experience of the candidate with the company’s objectives.
HR functionaries have the ability to discern the skill gaps in the hired employees. To address this issue, they provide and facilitate the necessary training which in turn ensures that the employees acquire skills to meet the expanding demand. This helps in the expansion of the human capital efficiency.
Another efficacious process to support business performance is through change management. With constantly evolving technology as well as changes in markets and consumers, organisational change becomes an essential process. Managing these changes in an effective manner is crucial to attaining the intended outcomes. The HR professionals play an instrumental role in the change management system by identifying, developing and facilitating the change.
HR managers participate in the process of planning and execution of the changes along with other management personnel and ensure that the planning is in accordance with the capacity of employees to adapt to these changes.
Having a keen understanding of the needs and expectations of the employees, HR managers function as a bridge between the workforce and structural change managers. They conduct regular meetings to communicate with the human resources about the necessary changes and are responsible to motivate the employees to participate in the change strategy (CIPD, n.d). They accept feedback regarding the concerns and issues faced by the employees and make certain that the resistance to the change from employees is properly met and the issues are dealt with. Subsequently, the HR managers evaluate the preparedness of the staff and develop programs to train the workforce to facilitate the requisite changes. They often take the responsibility of scrutinising the outcome post-implementation as well as acknowledging and rewarding the professionals who work as a catalyst for the intended change.
2. BUSINESS DATA
Assess 3 different sources of business data and how this can be assessed and used for planning purposes e.g. internal information within the organisation such as HR metrics and industry (external) information such as trends in HR, competitive information and government information. (AC3.2)
Data can be internal or external in nature. The information gathered from inside the business is referred to as internal data. It includes particulars regarding personnel, operations, finance and maintenance. External data pertains to the information collected from an outside source such as competitors’ markets and customers (Katou, 2008). Facts and figures obtained from customer feedbacks, surveys and research help in feeding the necessary information into the database. The companies rely on these information sources for decision making. Business data can be obtained from different sources and may be classified in numerous ways based on its nature such as internal and external data; financial and non-financial data and qualitative and quantitative data.
Business data is of immense value to HR professionals as it presents a picture of how well the company is performing. Human Resource Metrics (HR metrics) function as a source of internal business data. It is the quantifiable information used to measure the efficiency of HR duties and thus can present itself as a valuable tool to assess business data. A few HR metrics which can be used as sources of information are discussed below.
- Employee turnover: It is an important metric that reflects a company’s efficiency in retaining its employees. Calculated on yearly basis, it is the number of employees who are replaced in a company. Employee turnover is an expensive prospect and therefore should be minimised.
- Revenue per employee: The ratio obtained by dividing the total revenue of a business by its current number of employees which provides an estimate of revenue generated by each employee. A higher ratio is an indicator of higher productivity and profitability of the business.
- Cost per hire: It is the expenditure of a company for each hire. It is an important metric that helps in determining the efficiency of the recruitment process and plays a role in the development of future strategies.
- Employee engagement: The measure for engagement of an employee in work is not quantifiable and therefore, it is difficult to estimate. The data can be obtained by conducting surveys through questionnaires and feedbacks about the experience of employees about their work. Higher workforce engagement will yield higher profitability.
- Absenteeism: The average number of employees reporting for work directly reflects on the company’s productivity. This metric helps the HR professionals to keep track of the employees who are frequently absent from work and negatively affect productivity.
Another source of internal data frequently used by HR managers is financial reports which help them extensively in business planning. Financial reports are a record of business activities as well the performance of the company in the financial aspect. A financial statement typically consists of the following reports:
- An Income Statement is a crucial document that represents a company’s financial performance in a given amount of time. It is calculated by subtracting the expenses of the company from its total revenue. The figure thus obtained is the net profit or loss of the business.
- The Balance Sheet contains information about the company’s total assets, liabilities and equity. It is an essential statement for the business as it helps in managing the debt as well as strategic planning to increase the growth of the business.
- A Cash flow statement comprises the income as well as expenditure of the company’s money. It is a measure of a business’s ability to earn money to fund investments, operate and pay obligations.
The data thus obtained is instrumental in determining the company’s financial footing and yearly turnover. This data is crucial for the market analysts, investors and creditors to determine the financial status of the business.
Financial reports reflect the current performance of the company and help in the future prediction of the success rate. This information is critical for the HR professionals as it is utilised to strategically plan and implement the necessary changes in the workforce to increase efficiency and thereby increase the performance of the organisation.
External sources of data are significantly large in number and provide a rich pool of information for the HR professionals to be utilised in strategic planning the recruitment and training as well as payroll planning. Trends in human resources, competitive and government information impact the HR managers in the decision-making process.
Government sources of data are reliable and valuable for an organisation. Data regarding the domestic markets, consumers and international business can be procured from this source. This information is essential for a business to plan its investments, promote innovations and develop newer services and products to serve the increasing demands of the market. This in turn helps the HR professionals plan recruitment or training of the staff. Government sources also provide crucial information regarding the existing or changing laws and policies related to business which the HR functionaries need to be aware of. This helps the company to develop a system that is in alignment with the current business legislation.
Competitor information is also among the most essential aspects which needs to be considered for business purposes. Competitor information may be gathered by any company through various business ads or by visiting the competitor’s websites. Some instances of competitor information, may include the market share of the competitors, the products which are analogous to the products offered by the company, number of employees, employee turnover of the competitors and the value proposition of the competitors. These types of information may be procured from the business intelligence websites and databases. These forms of information are generally available on the public domain and can be gathered from the annual reports of the competitors, press releases, and official websites. In addition, social media also plays an essential role in gathering competitor information, and these includes tracing the number of followers, likes, shares of the posts made by the competitors and comparing them to the company. These involve usage of social media analytics and using dedicated teams for this purpose is often recommended to gain good quality competitor information.
A total of threesources of business data have been highlighted in the present case. The use of this data for the purpose of planning has been discussed. The information helps the HR professionals in effective and strategic planning of business in order to maximise the outcome and thereby – the organisational performance.
Please also comment on how you will transfer the new knowledge and skills gained during this assignment into working practices. You may also use this reflection for your CPD.
During the course of this study, I have developed a keen understanding of the contribution of human resource professionals in organisational performance. I have learned about various ways in which business performance is evaluated in an organisation and also gained insights into the role of HR in business planning and change management. This information will be crucial in the workplace and I will be able to utilise it in working practices to improve the business performance.
Further, I have developed knowledge about three different sources of business data and how the data obtained from these sources can be assessed and used in business planning. In a working environment, I will be able to use this knowledge to discern the source from which I will be able to obtain necessary data. Having the knowledge gained during this assignment, I will be able to assess this data and subsequently use it for improved business planning.
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