Resource Management are the following: Compensation, hiring, management performance, development of the organization, overall wellness, and benefits; motivation of people, good communication, good administration, and training (Heathfield “date unknown”). Overhauling Mattel was not an easy task for Eckert, but it was a fruitful endeavor for Mattel’s CEO.
Question 1: Identify the key elements of Mattel`s HRM Strategy. Critically evaluate the HRM strategy in relation to relevant theories and models and the current external environment. What potential issues does the company face in balancing the organizational HRM strategy with divisional personalization of it (as discussed on page 9of the case study)
The key elements of Mattel’s HRM strategy are workforce development, and the standardizing people development1. Workforce development could mean a lot of things, for there seem to be no single meaning to describe the term. However, workforce development has become a term to illustrate any one of a comparatively broad range of national and international strategies and programs associated with learning for work (Jacobs & Hawley “date unknown”). Many scholars in this particular field use the term national workforce development to mean the articulation between the private-sector and government programs (McLean 2003). According to Jacob and Hawley (date unknown) “Emergence of Workforce Development: Definition, Conceptual Boundaries, and Implications” there are five reasons for the coming out of this particular phenomenon in the field of industry. To be precise, these are globalization, technology, new economy, political change, and demographic shifts. These five factors are all connected to each other and have become a great challenge especially for adults (Jacobs & Hawley “date unknown”).
Globalization opened the door for the free flow of market among nations.