Human Resource Strategy and Impact on the Company
Contents 1.1 Introduction .Pg 2 1.2 Extensive Investment in training and retraining Pg 2 1.2.1 New hire training Pg 3 1.2.2 Retraining Pg 3 1.3.3 Legal and regulation training Pg 4 1.3 Access to lead market research and a team of highly skilled product specialist Pg 5 1.3.1 Access to leading market updates Pg 6 1.3.2 Highly skilled product specialist Pg 6 1.3.3 Consistent and regular updates on the market Pg 7 1.4 Motivation through intrinsic and extrinsic rewards .Pg 7 1.4.1 Commission Pay structure Pg 8 1.4.2 Shares option scheme Pg 9 1.4.3 Global Recognition Awards Pg 9 1.5 Conclusion .Pg 10 Bibliography Pg 12
1.1 Introduction
Merrill Lynch is one of the world’s premier providers of wealth management, securities trading and sales, corporate finance and investment banking services. They work with clients as their strategic partners to create and execute winning solution which address most of the clients’ most pressing strategic, financial and investment needs anywhere in the world (Merrill Lynch internet).
Merrill Lynch is one of the largest brokerage firm in the world with more than 15,000 financial advisor and approximately $2.2 trillion in client assets (Merrill Lynch Internet).
They are dedicated to provide first class investment services and experiences to client, focusing mostly on high net worth clients. The firm is able to provide a one-stop service for the private bank clients from investment needs, wealth planning, wealth preservation and succession.
I would say that the main contributing factor to the success of Merrill Lynch will be its differentiation strategy in providing excellence customer friendly experience and a one stop service for the client. We will be discussing three Human Resource Management strategy and analyse their impact on the company differentiation strategy
1.2 Extensive Investment in training and retraining
The right people with the right job coupled with the right and extensive
1.1 Introduction
Merrill Lynch is one of the world’s premier providers of wealth management, securities trading and sales, corporate finance and investment banking services. They work with clients as their strategic partners to create and execute winning solution which address most of the clients’ most pressing strategic, financial and investment needs anywhere in the world (Merrill Lynch internet).
Merrill Lynch is one of the largest brokerage firm in the world with more than 15,000 financial advisor and approximately $2.2 trillion in client assets (Merrill Lynch Internet).
They are dedicated to provide first class investment services and experiences to client, focusing mostly on high net worth clients. The firm is able to provide a one-stop service for the private bank clients from investment needs, wealth planning, wealth preservation and succession.
I would say that the main contributing factor to the success of Merrill Lynch will be its differentiation strategy in providing excellence customer friendly experience and a one stop service for the client. We will be discussing three Human Resource Management strategy and analyse their impact on the company differentiation strategy
1.2 Extensive Investment in training and retraining
The right people with the right job coupled with the right and extensive
Bibliography: Erderner, C.B (1993): Linking strategy to training: An overview of the implications of competitive strategy for training. Management Research News, 16(8), 6-6 Retrieved from http://searchproquest.com/docview/22354176?accountid=14507 [26 Nov 2012] Hsieh, Y.H & Chen, H.M. (2011): Strategic fit among competitive strategy, Human Resource Strategy, and reward system. Academy of Strategic Management Journal, 10(2), 11-32. Retrieved from http://search.proquest.com/docview/886543033?accountid=14507 [26 Nov 2012] Porter, Michael E: Strategic Management: Porter’s Generic Strategy. Retrieved from http://www.quickmba.com/strategy/generic.shtml [21 Nov 2012] Raymond A. Noe, John R. Hollenbeck, Barry Gerhart & Patrick M. Wright. (2010): Human Resource Management, Gaining a competitive advantage seventh edition, McGraw Hill Treacy, Michael and Fred Wiersema. (1993): Customer Intimacy and other Value discipline, Harvard Business Review, Jan – Feb 84-93