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Human Resource Plan

The top management team of CareBears are passionate about the activities it will promote and offer on the market. Management style will reflect the participation of the directors. CareBear follows a strong and unique HR policy which consists of different component like recruitment, compensation and benefit, performance management system, employee welfare etc. As outlined previously we do not intend to be very hierarchical especially considering our size and need to respond timeously to customers' orders. Management's ongoing initiatives will include driving sales, market share and productivity. We believe this plan meets the commitments of our mission and business objectives. We intend to grow into a large organisation, though in doing so ensure that we wish to stay responsive to customers orders and requests. We want the company to stay lean and flexible so that we can respond to our markets' needs quickly. As we expand and increase in size we do expect to increase our personnel. CareBear recognises that our employees contribute fundamentally to the Company's long-term prosperity, acknowledging our obligation to remunerate them competitively. We intend to compensate our personnel well, so as to retain their invaluable expertise and to ensure job satisfaction and enrichment through delegation of authority. Our compensation will include a competitive salary, generous profit sharing, plus a minimum of three weeks vacation. As time progresses we intend to enhance our capacity to attract and retain people of quality, inter alia, through benefits such as housing and family education grants. CareBear will constantly provide feedback to their employees. Important notices and developments will be continuously communicated to employees to keep them abreast of developments and promoting a sense of belonging and oneness in the organisation. We will also encourage our employees to put forward any suggestions they might have regarding the improvement of any of the company's functions-an open door philosophy. Such a culture will enhance innovativeness and creativity, in turn leading to job satisfaction and enrichment.

We intend to make sure that our employees understand the goals of the firm are customer focused, proud of their work and work as a team. This will encourage employees to become entrepreneurial and customer responsible, in addition to unifying staff in customer focus and values. We believe in creating a safe, healthy and happy workplace which will ensure that our employees feel homely and stay with our organization for a very long time. Capture their pulse through employee surveys. We also have open book management system where we plan to share the information about contracts, sales, new clients, management objectives, company policies, employee personal data etc. and will ensure that the employees are as enthusiastic about the business as the management. Through this open book process we gradually create a culture of participative management and ignite the creative endeavour of our work force. It involves making people an interested party to our strategic decisions, thus aligning them to our business objectives. Our management payout bonuses or having any kind of variable compensation plan can be both an incentive and disillusionment, based on how it is administered and communicated. Bonus is designed in such a way that people understand that there is no payout unless the company hits a certain level of profitability. Additional criteria could be the team's success and the individual's performance. We never pay out bonus without measuring performance, unless it is a statutory obligation. Our company follows 360 degree appraisal system which solicits feedback from seniors (including the owner), peers and subordinates has been increasingly embraced as the best of all available methods for collecting performance feedback. We would have open house discussions, employee-management meets, suggestion boxes and ideas capture tools such as critical incidents diaries are the building blocks that help the managers to identify & develop talent. We will occasionally delight our employees with unexpected things that may come in the form of a reward, a gift or a well-done certificate. Reward not only to the top performers but also a few others who are in need of motivation to exhibit their potential.

Source of recruiting employee Internal sources which include promotion, transfer, recall from long leave etc. External sources which include management consultant, advertisement, management institute, and recommendations.

Compensation
Below mentioned is the compensation allotted to the employees of the company Salary/annum Workers Marketing Finance HR Operations Total 480000 1080000 540000 180000 360000 2640000

After 5 years we are planning to broaden our human resource policies by introducing crche facilities, holidays with pay, canteen facilities, recreation facilities, rest room, and transport facilities and so on. Appropriate and timely welfare facilities that motivate the employees and make them committed and dedicated towards their work and organization.

Legal Requirement
CareBear will have Government and local body approval. Also we are planning to get the BIS Clearance. Use of land and an effluent disposal will be cleared before

starting of the project. Certification will be done to project our product as babys health product i.e. approval from Indian medical health association. Our Legal Procedure along with the estimated cost and days are discussed below:

No:

Procedure

Cost to Time to complete in complete Rs.


1 days 100

1 Obtain director identification number (DIN) online from the Ministry of Corporate Affairs portal (National) 2 Obtain digital signature certificate online from private agency authorized by the Ministry of Corporate Affairs (National) 3 Reserve the company name online with the Registrar of Companies (ROC) (National) 4 Stamp the company documents at the State Treasury (State) or authorized bank (Private) 5 Get the Certificate of Incorporation from the Registrar of Companies, Ministry of Corporate Affairs (National) 6 Make a seal (Private) 7 Obtain a Permanent Account Number (PAN) from an authorized franchise or agent appointed by the National Securities Depository Ltd. (NSDL) or the Unit Trust of India (UTI) Investors Services Ltd., as outsourced by the Income Tax Department (National) 8 Obtain a Tax Account Number (TAN) for income taxes deducted at source from the Assessing Office in the Mumbai Income Tax Department

3 days

1,500

2 days

500

1 days

1,300

5 days 1 days

14,133 350

7 days

67

7 days

57

9 Register with the Office of Inspector, Shops, and Establishment Act (State/Municipal) 10 Register for Value-Added Tax (VAT) at the Commercial Tax Office (State) 11* Register for Profession Tax at the Profession Tax Office (State) 12* Register with Employees Provident Fund Organization (National) 13* Register for medical insurance at the regional office of the Employees State Insurance Corporation (National) 14 Miscellaneous expenses Total Legal Charges

2 days

6,500

12 days 2 days 12 days

5,100 No cost No cost

9 days -

No cost 15393 45000