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Human Resource Management of Equifax

Discuss Human Resource Management of Equifax within the Human Resources Management (H.R) forums, part of the PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT category; Equifax Inc. is a consumer credit reporting agency in the United States, considered one of the three largest American credit ...

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Human Resource Management of Equifax
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Netra Shetty
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netrashetty
Student of PGDM at Mats Institute of Management and Entrepreneurship
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Human Resource Management of Equifax - January 25th, 2011

Equifax Inc. is a consumer credit reporting agency in the United States, considered one of the three largest American credit agencies along with Experian and TransUnion. Founded in 1899, Equifax is the oldest of the three agencies and gathers and maintains information on over 400 million credit holders worldwide. Based in Atlanta, Georgia, Equifax is a global service provider with US $1.5 billion in annual revenue and 7,000+ employees in 14 countries. Equifax is listed on the NYSE.


Our company uses both informal and formal performance appraisals. The informal performance appraisal is done through regular communication between the manager and me. In an informal appraisal, the manager assesses my performance and tell me how I am doing with my assignment and how well I am collaborating with others in the organization. The formal appraisal is done only twice a year. The manager uses the formal appraisal to summarize and continue the informal interaction that takes place between him and me. The formal appraisal is done by:

* Referring to past feedback and documented observations of performance
* Describing my current performance
* Describing the desired performance
* Getting a commitment to any needed change
* Follow up

In order to clearly illustrate the importance and the benefits of performance appraisal, let me discuss my experience during my recent performance appraisal.

Before the schedule of the performance appraisal, the manager prepares the documentation and plans. During the appraisal, the manager explained to me that the purpose of the appraisal is to help me and everyone in the organization to improve and to gather information on how to effectively facilitate these improvement efforts. The manager asked me to assed my total performance for the last six months. Then he asked me to identify my personal strengths and allowed me to discuss. After that, the manager told me what he thinks my personal strengths are. Then he went on describing the areas that he thinks I should improve and work on. He used documentation to demonstrate his findings. After his assessment, he gave me a chance to voice out my opinions about the appraisal. After discovering the reasons and explaining my rating, the manager and I set new goals for performance for the next appraisal period. The manager was honest and considerable.


Job Analysis
Job analysis is a formal and detailed study of jobs
It refers to a scientific and systematic analysis of a job in order to obtain all pertinent facts about the job
It is essentially a process of collecting and analyzing all pertinent data relating to a job

Objectives of Job Analysis
Job Redesign
Work Standards
Recruitment
Selection
Training
Performance appraisal
Job evaluation
Safety
Benefits of Job Analysis
1. Organizational Design
2. Human Resource Planning
3. Recruitment and Selection
4. Placement and Orientation
5. Training and Development


6. Performance Appraisal
7. Career Path planning
8. Job Design
9. Job Evaluation
10 Labour Relation
11. Employee Counselling
12. Health and Safety
The process of Job Analysis
1. Organisational Analysis
2. Organising Job Analysis Programme
3. Deciding the uses of Job Analysis Information
4. Selecting Representative Jobs for analysis
5. Understand Job Design
6. Collection of Data
7. Developing a Job Description
8. Preparing a Job Specification
Techniques of Job Analysis
1. Job Performance
2. Personal Observation
3. Interview
4. Questionnaire
5. Critical Incidents
6. Log Records
Differentiate between Job Description and Job Specification
Job Description is a functional description of what the job entails. And define the purpose and scope of a job. It is a written record it contains title, location, duties, responsibilities, working conditions, hazards and relationship with other jobs.
Job specification is a statement of the minimum acceptable human qualities required for the proper performance of a job.
It includes physical, mental, social, psychological and behavioral characteristics of a person
Job Evaluation
According to BIM, Job evaluation is “the process of analysis and assessment of jobs to ascertain reliably their relative worth using the assessment as the basis for a balanced wage structure”
Job evaluation begins with job analysis and ends up with the classification of jobs according to their worth. A job cannot be evaluated unless and until it is analyzed.
Objectives of Job evaluation
1. To Determine equitable wage differentials between different jobs in the organization
2. To eliminate wage inequities
3.To develop a consistent wage policy
4. To provide a framework for periodic review and revision of wages
5. To provide a basis for wage negotiations
6. To enable management to gauge and control the payroll costs
7. To minimize wage descriptions on the basis of age, sex, caste, region, religion , creed etc
Methods of Job Evaluation
Job Evaluation can be classified in to two categories
1. Non-quantitative methods:
a. Ranking or Job Comparison
b. Grading or Job Classification
2. Quantitative methods:
a. Point Rating
B. Factor Comparison

With the developing relationship between HR and management, both at the top and line levels,
along with NPR and GPRA mandates, accountability should become a shared responsibility.
Managers are making more and more HRM decisions while the HR staff is becoming more
involved in broader organizational issues. This means that both the HR staff and managers are
ultimately accountable for effective, legally compliant HRM.

Is this shared accountability occurring in Federal agencies? Approximately half of the respond-ing
agencies agree that HRM accountability is shared between the HR staff and managers. Managers
are accountable for the business results achieved through good human resources management, the
HR staff is accountable for HR compliance, and both are accountable for the overall effectiveness
of the agency HRM program. However, the other half still feels that the ultimate accountability
falls on the HR staff. They are the ones responsible if actions are found non-compliant, and little
attention is given to whether managers’ HRM decisions are an effective use of resources. OPM’s
HRM Accountability System Development Guide goes into quite a bit of detail on shared
accountability and can assist agencies in understanding the concept, determining who is
accountable for what, and devising strategies for how to hold them accountable.
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Re: Human Resource Management of Equifax
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James Cord
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Re: Human Resource Management of Equifax - March 29th, 2016

Quote:
Originally Posted by netrashetty View Post
Equifax Inc. is a consumer credit reporting agency in the United States, considered one of the three largest American credit agencies along with Experian and TransUnion. Founded in 1899, Equifax is the oldest of the three agencies and gathers and maintains information on over 400 million credit holders worldwide. Based in Atlanta, Georgia, Equifax is a global service provider with US $1.5 billion in annual revenue and 7,000+ employees in 14 countries. Equifax is listed on the NYSE.


Our company uses both informal and formal performance appraisals. The informal performance appraisal is done through regular communication between the manager and me. In an informal appraisal, the manager assesses my performance and tell me how I am doing with my assignment and how well I am collaborating with others in the organization. The formal appraisal is done only twice a year. The manager uses the formal appraisal to summarize and continue the informal interaction that takes place between him and me. The formal appraisal is done by:

* Referring to past feedback and documented observations of performance
* Describing my current performance
* Describing the desired performance
* Getting a commitment to any needed change
* Follow up

In order to clearly illustrate the importance and the benefits of performance appraisal, let me discuss my experience during my recent performance appraisal.

Before the schedule of the performance appraisal, the manager prepares the documentation and plans. During the appraisal, the manager explained to me that the purpose of the appraisal is to help me and everyone in the organization to improve and to gather information on how to effectively facilitate these improvement efforts. The manager asked me to assed my total performance for the last six months. Then he asked me to identify my personal strengths and allowed me to discuss. After that, the manager told me what he thinks my personal strengths are. Then he went on describing the areas that he thinks I should improve and work on. He used documentation to demonstrate his findings. After his assessment, he gave me a chance to voice out my opinions about the appraisal. After discovering the reasons and explaining my rating, the manager and I set new goals for performance for the next appraisal period. The manager was honest and considerable.


Job Analysis
Job analysis is a formal and detailed study of jobs
It refers to a scientific and systematic analysis of a job in order to obtain all pertinent facts about the job
It is essentially a process of collecting and analyzing all pertinent data relating to a job

Objectives of Job Analysis
Job Redesign
Work Standards
Recruitment
Selection
Training
Performance appraisal
Job evaluation
Safety
Benefits of Job Analysis
1. Organizational Design
2. Human Resource Planning
3. Recruitment and Selection
4. Placement and Orientation
5. Training and Development


6. Performance Appraisal
7. Career Path planning
8. Job Design
9. Job Evaluation
10 Labour Relation
11. Employee Counselling
12. Health and Safety
The process of Job Analysis
1. Organisational Analysis
2. Organising Job Analysis Programme
3. Deciding the uses of Job Analysis Information
4. Selecting Representative Jobs for analysis
5. Understand Job Design
6. Collection of Data
7. Developing a Job Description
8. Preparing a Job Specification
Techniques of Job Analysis
1. Job Performance
2. Personal Observation
3. Interview
4. Questionnaire
5. Critical Incidents
6. Log Records
Differentiate between Job Description and Job Specification
Job Description is a functional description of what the job entails. And define the purpose and scope of a job. It is a written record it contains title, location, duties, responsibilities, working conditions, hazards and relationship with other jobs.
Job specification is a statement of the minimum acceptable human qualities required for the proper performance of a job.
It includes physical, mental, social, psychological and behavioral characteristics of a person
Job Evaluation
According to BIM, Job evaluation is “the process of analysis and assessment of jobs to ascertain reliably their relative worth using the assessment as the basis for a balanced wage structure”
Job evaluation begins with job analysis and ends up with the classification of jobs according to their worth. A job cannot be evaluated unless and until it is analyzed.
Objectives of Job evaluation
1. To Determine equitable wage differentials between different jobs in the organization
2. To eliminate wage inequities
3.To develop a consistent wage policy
4. To provide a framework for periodic review and revision of wages
5. To provide a basis for wage negotiations
6. To enable management to gauge and control the payroll costs
7. To minimize wage descriptions on the basis of age, sex, caste, region, religion , creed etc
Methods of Job Evaluation
Job Evaluation can be classified in to two categories
1. Non-quantitative methods:
a. Ranking or Job Comparison
b. Grading or Job Classification
2. Quantitative methods:
a. Point Rating
B. Factor Comparison

With the developing relationship between HR and management, both at the top and line levels,
along with NPR and GPRA mandates, accountability should become a shared responsibility.
Managers are making more and more HRM decisions while the HR staff is becoming more
involved in broader organizational issues. This means that both the HR staff and managers are
ultimately accountable for effective, legally compliant HRM.

Is this shared accountability occurring in Federal agencies? Approximately half of the respond-ing
agencies agree that HRM accountability is shared between the HR staff and managers. Managers
are accountable for the business results achieved through good human resources management, the
HR staff is accountable for HR compliance, and both are accountable for the overall effectiveness
of the agency HRM program. However, the other half still feels that the ultimate accountability
falls on the HR staff. They are the ones responsible if actions are found non-compliant, and little
attention is given to whether managers’ HRM decisions are an effective use of resources. OPM’s
HRM Accountability System Development Guide goes into quite a bit of detail on shared
accountability and can assist agencies in understanding the concept, determining who is
accountable for what, and devising strategies for how to hold them accountable.
Hello netra,

Here i am uploading Credit Report on Equifax, so please download and check it.
Attached Files
File Type: pdf Credit Report on Equifax.pdf (143.5 KB, 0 views)
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area of hrm, career development, career management, career path, career planning, company in us, equifax, fringe benefits, hrm of us company, hrm practices, human, human resource management, induction process, job evaluation, job rotation, management, orientation process, performance appraisal, personnel management, recruitment process, resource, staffing process, strategic hrm, training development
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