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Human Resource Management of Discover Financial Services

Human Resource Management of Discover Financial Services

Discuss Human Resource Management of Discover Financial Services within the Human Resources Management (H.R) forums, part of the PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT category; Discover Financial Services is an American financial services company, which issues the Discover Card and operates the Discover and Pulse ...

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Human Resource Management of Discover Financial Services
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Human Resource Management of Discover Financial Services - January 25th, 2011

Discover Financial Services is an American financial services company, which issues the Discover Card and operates the Discover and Pulse networks. Discover Card is the third largest credit card brand in the United States, when measured by cards in force, with nearly 50 million cardholders.

HR STRATEGIC PLANNING

HR strategic planning is the process by which, an organization as it develops, ensures that it has the right
number of people with the right skills in the right positions at the right time to meet its operational and
business needs.

It deals with strategic choices associated with the use of labor in an organization. Making choices about
the levels and type of staffing, remuneration and benefit policies, and recruitment efforts to be initiated
will be guided by such issues as




the need to maintain a sufficient core intellectual capital within the Center

opportunities and risks related to donor-seconded or-sponsored staff; postdoctoral, visiting scientist
or fellowship assignments; and short-term consultants



changes in the Center’s business strategy e.g., expansion or contraction of particular research lines;
greater geographic decentralization of staff, development of business in certain geographic zones



changes in the Center’s operating modes, in response to quality improvement efforts or
recommendations from external and internal reviews



attracting staff (and families) to locations with security problems and/or amenity issues;



a desire to expand the workforce diversity (e.g. gender, nationality, representation from developing
as well as developed countries)

The level of investment of effort in HR strategic planning that is deemed appropriate to the
organization’s circumstances will vary from organization to organization and from time to time.

Changes in research focus and technology and uncertainty of medium-and longer term levels of donor
funding for publicly funded scientific research mean that CGIAR Centers need to approach HR strategic
planning with considerable flexibility. Nonetheless, there is a compelling business case for Centers to
proactively engage in an HR strategic planning process to facilitate orderly and timely implementation
of operational and financial plans.

Whatever the position of HR responsibility within the organization, it is important that HR strategy is
aligned to the business need. This requires that HR professionals not only understand the business
strategy but also to articulate its implications on HR management and the consequences for HR strategy.

It is important, therefore, that HR professionals are brought early into any business strategy discussions,
so that their advice can be timely as well as relevant to the Center. This may be done in different ways,
including:





participation as members or observers at Center management team meetings

routine briefings from Center and unit management on business strategy discussions

regular visits to regional/country offices (particularly important for Centers with significant
decentralization)



routine access to relevant documentation about business strategies or initiatives with likely or
potential HR implications

DECENTRALIZATION IS ENCOURAGED
Employees do not have to take permission on every little thing. At , senior management gets cubicles in the centre of the fluorescent-lit space while employees get the windows. All offices are of the same size. Consistent with its emphasis on people management, the company was ranked 24th on Fortune’s list of the ‘100 Best companies to Work for in America’ in 1999, and was ranked fourth on Fortune’s list of America’s most admired companies in 2000.

PEOPLE AT
In 1999, the company had more than 26,000 employees operating in over 54 countries; in 2005, 38,056; and today, more than 47,000. Women who were vice presidents or even more senior numbered 33 at last count. has a voluntary attrition rate among employees of about 8%, much lower than the average 30% employee turnover at Silicon Valley. Working with is an experience in itself. Its employees believe that ‘It’s addictive to work for . It can take over your life if you let it’. employees are always smiling, because it is a great place to work and they are all getting rich from stock options.

Diversity Initiatives at
is dedicated to connecting business, people, and communities. As a leading global company, it recognizes that inclusion and diversity of thought is a business imperative. Achieving business objectives is seen as directly related to the advantage of having an inclusive workforce and a diverse group of suppliers. Employees at come from different cultures and geographies, with a variety of viewpoints and styles of interacting, unique backgrounds, experiences, and values. believes that such a diverse workforce gives the company access to new ideas, promotes better decision-making, and helps the firm understand the needs of the customers better. A workforce of inclusion also allows the firm to be well-positioned to anticipate important market changes, and be more responsive to customer needs. Equal Opportunities Policy commits the company to recruit, promote, re-assign, and train people, regardless of race, color, religion, gender, sexual orientation, age, disability, or nationality.
boasts of a global workforce. In 2005, 71% percent of the employees at were based in the US, 15% in Europe and Middle East, 9% in the Asia Pacific region, 2% in Japan, and 3% in central and South America. To promote and foster an environment that supports diversity, encourages networks that enable employees to connect with other employees who share cultures, identities, or career goals.
EMPLOYEE COMPENSATION AT
Systems: Employee Compensation Data
Company reviews of Employee Salaries at Systems provide a salary comparison between various positions, including software engineers. Software engineers at earn a competitive median salary of $82,775. In comparison, senior software engineers at have a median salary of $104,633, an increase of about $29,000 for those promoted to the senior level. Another company in the same industry, Sun Microsystems, has similar employee salaries for software engineers. At Sun Microsystems, software engineers have a median salary of $77,097, about $5,000 less than the median salary at . In contrast, this employee salary data also shows that senior software engineers at Sun Microhave a median salary of $116,099, dramatically higher than median salary at .

Employee Compensation by Years of Experience can also be relevant to company salary research. employees with less than one year of experience can expect a median salary of $63,202. After twenty years of experience, this median salary increases to $119,843. Looking at the Company Data for Sun Microsystems, you can see that median salaries there are higher than those at . Recent college graduates can expect a median salary of $68,467, about $5,000 higher than the median entry-level salary at . Employees at Sun Microwho have at least twenty years of experience earn a median salary of $120,641. Other company data on Median Bonuses at shows that the median bonus for senior level positions is about $12,000. This figure can vary depending on experience, from $5,000 for entry-level employees to $15,000 for more experienced workers.


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Last edited by netrashetty; January 25th, 2011 at 10:27 AM..
   
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