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Pages 8 (2008 words)
People make the organizations go. Proper selection, training and management of Human Resource determine the success of an organization. BMW has achieved high profitability last year due to improved productivity and cutting costs. This has been achieved through the two-way communication between the workers and the top management.
Empowering employees and organizing around teams are aimed by BMW for facilitating communication and making it easier for decisions to be made. It helps the company to respond quickly to customer's needs and it's competitor's challenges. It helps them learn to prioritize tasks and reduce job stress. A workforce that is knowledgeable and skilled at doing complex things keeps a company competitive and attracts investments. Improved productivity means fewer people, less money, less time, less space and fewer resources. Bonuses are given to workers on giving superb ideas related to cutting cost savings, as they are directly involved in production. BMW prefers increased participation from the worker's side. They must give at least three ideas with eight hundred pound for each idea and to qualify for full annual bonus up to two hundred and sixty six pounds. This is done to save 3.6 M annually. The company has also increased workers pay from 2,500 pounds to 4,500 pounds. Many of the workers are hired on temporary basis and working days are fixed to seven-day operation. Working time account was introduced in the company and workers were paid even when the plant remained shut for retooling. The hours missed were made up later. The company provided ease to the workers by giving them the opportunity to take off over time later as holidays.
The company saved more than six ...
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