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Human Resource Management of The Liberty Corporation

Discuss Human Resource Management of The Liberty Corporation within the Human Resources Management (H.R) forums, part of the PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT category; The Liberty Corporation (Public NYSE:LC) was a media corporation originally based out of Greenville, South Carolina. At its peak, The ...



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Human Resource Management of The Liberty Corporation
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Netra Shetty
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Human Resource Management of The Liberty Corporation - January 27th, 2011

The Liberty Corporation (Public NYSE:LC) was a media corporation originally based out of Greenville, South Carolina. At its peak, The Liberty Corporation owned 15 network-affiliated television stations across the Midwest and Southern regions of the United States. On top of that, cable advertising sales group CableVantage Inc., video production facility Take Ten Productions and broadcast equipment distributor Broadcast Merchandising Corporation were also some of its assets.

The company formerly held Liberty Life Insurance Company and Pierce National Life Insurance Company, which it sold in 2000 to Royal Bank of Canada.

After the sale of its insurance division, the company employed approximately 1,400 people. The executive officers included chairman and CEO W. Hayne Hipp (who, with his family, owned about 25% of the company before its sale to Raycom Media), president and COO James M. Keelor, CFO Howard L. Schrott.

In August 2005, Liberty agreed to be bought out by Raycom Media. Raycom paid $987 million, or $47.35 per Liberty share, and assumed Liberty's debts of approximately $110 million in the buyout. The acquisition was completed in February 2006; After the closing of the purchase of Liberty, Raycom sold a number of stations, including two from the Liberty portfolio. They included ABC WWAY-TV in Wilmington, North Carolina to Morris Multimedia and CBS affiliate KGBT-TV in Harlingen-McAllen-Brownsville, Texas to Barrington Broadcasting.

There are several feature/ Characteristics of human Resource Management. These characteristics pinpoint of the nature of human resource management starting from acquisition to utilization of human source which are briefly discus below:
1. Development of well-conceived policy:
The first future of Human Resource management is to develop a well-accepted policy for the organization. The purpose is to practices Human Resource management activities in a better way.
2. Development of Harmonious relation:
Development of Harmonious relation is aimed to achieve goal, for fulfillment of the functions. All barriers to cordial relation should be removed.
3. Establishing a chain of commend:
Human Resource management must establish a chain of commend without which discipline cannot be maintained. These include unite of command, unit of direction and scalar chain.
4. Awareness of own nature of service:
This is the fourth characteristics of Human Resource management in .
By creating awareness promotion policy can be established; training policy can be implemented and other policy can be made well understood.
5. Acquire full professional and operational knowledge:
Human Resource management must ensure full professional and operational knowledge or proper functioning of the activities without which better Human Resource management can never be practiced.
6. Must be good communication and effective leader:
Human Resource management must communicate and give proper guidance to the employees. Thus company policies and decisions can be properly interpreted and practice.
In fine, these feature and characteristics discussed above can pin-point the nature of Human Resource management in .
Principle of Human Resource management:
Policy is a guideline for managerial decision and action. Principles are the fundamental truth established by research, investigation and analysis. Many human resource principles have been established through practice, experience and observation. Principles are universal truths generally applicable to all organization. Policies on the other hand, very form to organization to organization. Principle guide mangers in formulating policies, programmers, procedure and practices. K aswathappa has mentioned some Human Resource principles which are as follow
1. Principle of scientific selection: principle of scientific selection is to select the right person in right time for the right job.
2. Principle of employee development: principle of employee development is to offer full and equal opportunities to every employee to realize employee’s full potential.
3. Principle of labor management cooperation: principle of labor management cooperation is a promote cordial industrial relation.
4. Principle of free flow of communication: principle of free flow of communication is to keep all channels of communication open and encourage upward downward, horizontal, formal and informal communication.
5. Principle of fair remuneration: principle of fair remuneration is to pay fair equitable wages and salaries commiserating with jobs.
6. Principles of incentive: Principle of incentive is to recognize and reward good performance.
7. Principles of dignity of labor: Principles of labors is to treat every job holder with dignity and respect.
8. Principle of participation: Principle of participation to associate employee representatives at every level of decision making.
9. Principle of contribution: Principle of contribution is to natural prosperity to provide a higher purpose of work to all employees and to contribute to national prosperity.
10. Principle of team spirit: principle of team spirit is to promote cooperation and team spirit among employees.
Basic functions of Human Resource Management
There are so many functions of human resource management. Some are general functions and some are basic functions. The basic functions of human resource management are as follows:
1. Acquisition: The first function of human resource management is acquisition of efficient and committed people for the organization.
2. Development: After acquisition, the next function is to develop human resources by training so that they can work efficiently and utilize skills and efficiency to a large extent.
3. Motivation: After making the human resources skilled and efficient, HRM must retain them in the organization for a long time. By applying motivational means this purpose may be fulfilled.
4. Maintenance: The basic function of human resource management is to maintain the people in the organization so that they can devote themselves wholeheartedly keeping good relationship with management.
These are four basic functions of human resource management. In many foreign books these functions have been highlighted first.
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