Westminster International College

Assignment of Human Resource Management

Student Name: Soliev Mavlonbek Student ID: 0086MWMW0612 Programme: BABS Submission Deadline: 16th of December Lecturer: Eileen Crawley

Table of Contents

1.0 Executive Summary .................................................................................................................. 2 2.0 Introduction ............................................................................................................................... 2 2.1 Affecting of Payroll for Cost Reduction ............................................................................... 2 2.3 An Effective Total Reward systems. ..................................................................................... 3 2.4 Types of Payment System ..................................................................................................... 3 3.0 Proposals ................................................................................................................................... 4 3.1 Proposal One ......................................................................................................................... 4 3.2 Proposal Two......................................................................................................................... 5 3.3 Proposal Three....................................................................................................................... 6 4.0 Handling Departments .............................................................................................................. 7 5.0 Recommendation & Conclusion ............................................................................................... 7 6.0 Bibliography ............................................................................................................................. 9

1.0 Executive Summary

Today each business vendors or executives accomplish more than one part for their business. One of the important works in organization their commercial is completing payroll. Employees or staffs of the firm must be intelligent make sure that company is paying them regularly on time deprived of postponements. (Chron, 2012) In this assignment, as a Human Resource Executive three main proposals are going to be provided for the Toy manufacturing company in UK that is facing on problems with development in foreign competition and declining of demand for its goods. Cause of that there is also another problem occurred internal. Factory has a more than 1000 technical and low skilled employees and expenses increased rapidly by making overtime payments. Currently, company wants to save the cost and they are not hiring workers. Factory should reduce its cost of payroll and during the same time it has also increase profit to overawed mentioned difficulties, challenges. In the following parts of assignment there are proposals given for the company as a way of how overcome complications.

2.0 Introduction
Every company or business has to pay that sum total of all compensation for its employee due to the set of time, given date and it is called payroll. I the small businesses payroll can be handled by the owner. Payroll also defined as list of employees of firm, amount of payment for the every of them. It is the main expense for the firms and also nearly often deductible, too. Differentiate of payroll from the pay period to other for overtime, sick pay. (Technology One, 2013)

2.1 Affecting of Payroll for Cost Reduction

Payroll Reduction is the amount of withdrawn from an employees salaries. Reason of effecting to make lower the cost of payroll expenses is payments for overtime. It has a affect for the gross income, but it should also mentioned here that deduction has not any affect for gross income. Growth in payroll even can be the reason for fail for business and owners has to focus on it as a main part of their business, to analysis their financial plan. The quantity the business can have enough money to financial plan for payroll impact how many labors the business is able to employ, and the skillfulness and routine level of the employees.

This is the significant point of business that hiring the skilled labors to manage holds under control of working hours. (eHOW, 2013) The following aspect will be the Financial Situation in the factory. The factory have to manage to pay for its workforces payroll cost and the business`s financial plan ought not be finished. Furthermore, the affordability need be the standard aimed at paying pay.

2.3 An Effective Total Reward systems.

Workers are given money for their services refer to enterprises from the company that they are working and its called reward that is system of Total Reward. It does not includes only money and another methods that can adapt to currencies, opportune office, good relationship environment in organization, have an capacity for decision making involvement, good promote chances. (Economictimes, 2012)

2.4 Types of Payment System

There are two types of payment systems broad division defined thru platforms. They are Retail Payments and Large Value: Large Value Payment System

It typically processes extraordinary significance critical expenses. That is important systems that make sure the level operational of budget, monetary schemes. Whether it fails, a system was able to disturbances or diffuses shudders in economy. Retail Payment System: Cash is the favored technique for minor expenses as it contains no credit and therefore, no possibilities. Through cash, everybody is able to commonly purchase things and facilities easily as it extensively recognized. Cheques Cheques are an instruction to transmission reserves after the spenders bank to the account of the recipient. Cheques are commonly usable aimed at six months afterwards the time of matter. The advantages of Cheques are: better for large sums, payment might be made at employee convenience sent to the recipient. But it can take till 3 or 4 working days before reserves are obtainable to use and no guarantee these are the disadvantage of it. Debit Card- card of the payment that straightly amount of transaction subtracted from debit card owners account on official. Advantages of Debit card are: holder can use for online shopping and not as much of risk than receiving cash. Disadvantages: it takes until 3 days for salary to be received, functioned at a payment billed for the bank. Credit Card- it provides opportunity for the owner of card to make a purchase for goods and services thru credit line offered by credit card issuer. Advantage of credit card is guaranteed payment and also can be used for online purchasing. Disadvantages: card holder has to pay for the banks service; it is not safe during online shopping if web payment sites are not protected. (Suva, 2011)

3.0 Proposals
3.1 Proposal One
Automation As much as more than 70 % of the human race will turn into obsolescent surrounded by the just three groups. The reason is automation technology is progressing at such a speedy pace that

highly capable mortal robots thru forward thinking vision acknowledgement and motor direction organizations are going to take over the most boring employment professions. It is labor saving, technological change might increase workforce efficiency. Automation provides opportunities for the business to sustain competitive condition without off shoring. Applying to the robotic workforce only gives advantage for the toy manufacturing company. They are able to control their expenses by automations, increase work speed and also efficiency. Automations are helpful to growth for those companies, factories that is facing on cost cutting problems. Since last decade over million industrial robots have being used in operation have been straightly in charge for the creation of close to more than three million jobs. According to the some of the researches that is mentioned that, in next decade rising in using robots will result in establishing over million high excellence occupations global. (Adams, 2013) Robotworx can help to business automate for fewer. The systems offer low-priced manufacturing robot and corporation might save almost 50% by obtaining secondhand apparatus rather than new, choice routine. Low-cost does not mean reduced quality and the Company can provide agreement for the value of the machines. One of the leaders of automation in the factory is FANUC. This brand has broadest range of goods and chattels for a huge variability of tenders. It is disturbed to sort its resolutions resourceful and modest and its developments are rotated to consumer satisfaction. These mechanizations completed relaxed to usage for the plants. The machines can do practically the whole thing from palletizing weighty contents to hold tantalizing goods. (Durden, 2012)

3.2 Proposal Two

Recruitment by HR agencies HR Helps Company to build good team for working specialists without HR. Company is not able to build it. The functions of HR are selection, recruitment, training, motivating employee and so on. (H R Excellence, 2012) There variety of recruitment agencies and one of them is Oasis HR located in UK

Oasis of human resources is an award winning multinational agency in London, UK, that proposals chances and research services in the areas of obtaining and change management private business. They base their custom contains the manufacturing area, and the agency has confirmed to offer temporary or provisional at all levels and in all corrections of human resource professionals and enduring results and involvement. 20k for human resource managers, human resource directors 200,000, the agency might also discovery Oasis and delivers the best aptitude on the marketplace attitude. (OasisHr, 2012) The organization concentration on anything they do greatest; discovery marketplace aptitude. From HR generalists over to experts within Internal Recruitment & Talent, Employee Relations, Learning & Development, Diversity and Shared Services, their applicant allure approaches permit them to object the impassive applicant marketplace. These approaches were developed as traditionally the best accessible ability be wont to not to be dynamically regarding; this suggestion founded on to advance HR section and advantage the corporation trainee experts who can multi responsibilities at equivalent the time. It might be beneficial for decrease budget of the workforce in the plant and advance its business presentation. This method although will be expensive in short term it will comfort the business changed price in upcoming.

3.3 Proposal Three

Partnership thru other countries People with small abilities and deprived of rider are at major matter in the work marketplace in the UK and rendering through particular figures charge of oil, raw resources and bring in metals improved in the UK. Several of industrial businesses in UK are making an allowance for callous charges because of the accumulative amounts of raw resources. A industrial unit can grow its trade thru maiden up its subdivision headquarters in dissimilar measures of the internal republics like China or India which employment budget is short and cost of raw resources lesser liken United Kingdom. These varieties organizations can support the corporation protect the money and in scattering its industry to dissimilar places and thus cumulative goods the purchaser disreputable and transporting their goods or toys quicker to the clients via aggregate their accessibility to it.

Furthermore these categories of subdivision workplaces will help in growing the extent of the marketplace for a business's toy thru inviting other clients and families; broadening the choice of its tradeoff and industrial doings also receiving more probabilities and foundational uncharted streets for it. Consequently, these workplaces can support to oil the development of the plant and progress its productivity on a continued financial plan.

4.0 Handling Departments

Departments of the company; Finance, IT, Marketing are being managed by the company itself. Company need to focus on Departments as well during the same time with manufacturing and this is also might be reason of low performing. There are also ways to mitigate the issues and determine the solutions for helpful handle departments. Building structure -that can be formal or informal- it ought to be obviously opinions out the commentary associations. Classifying formal and informal influence relations of specialist. State whether or not malleable times, inflexible or semi-rigid hours are in influence. Determining on equally satisfactory end facts, efficiency stages. Categorizing durable, mutually possessed aims, signposts and limits. Interactive, distribution information and awareness through each other can growth the effort presentation of the business because all divisions linked. (Entrepreneur, 2012)

5.0 Recommendation & Conclusion

Factory has to consider its internal problems, and cut down the cost of payroll to avoid the becoming worth. One of the better recommendations for the factory is automation. In order to apply to automations factory can have a debt. The most important useful thing for it is quality of the job, speed. Automations are helpful for the continuously manufacturing that means labor cannot work continuously more hours and it required to organize shifts. It has to mention that

applying the automations is better in the long term. Recruiting the labor thru HR agencies is second proposal and if employees are talented to do the several chores in the same time, its helpful to save money. The third proposal is partnership. Since last decade most of European and American companies have come to the some Asian countries. They opened their brands. The reason of coming to the countries such as China, India, Bangladesh, Nepal, and Vietnam is low labor cost and also low price of raw materials. It is more recommendable for the Toy Factory to open new branches in countries mentioned to overcome challenges. By applying the recommendations Factory will able to increase its profitability.

6.0 Bibliography

Adams, M., 2013. Robotics revolution to replace most human workers in three generations. Natural News, 30 September, pp. 30-35. Chron, 2012. Importance of Payroll. [Online] Available at: http://smallbusiness.chron.com/importance-payrol [Accessed 03 December 013]. Durden, T., 2012. Guest Post: The Death Of Jobs. Automations, 21 August, pp. 08-13. Economictimes, 2012. news by industry. Effective total rewards strategy imperative for business performance, 14 June, pp. 20-23. eHOW, 2013. how does payroll effect business. [Online] Available at: http://www.ehow.com/how-does_4600322_payroll-affect-business. [Accessed 10 December 2013]. Entrepreneur, 2012. Managing multiple locations. [Online] Available at: http://www.entrepreneur.com/article/748 [Accessed 09 december 2013]. H R Excellence, 2012. Importance of the HRM. [Online] Available at: http://www.humanresourceexcellence.com/ [Accessed 05 December 2013].

OasisHr, 2012. driving recruiment. [Online] Available at: http://www.oasishr.com [Accessed 06 ecember 2013]. Suva, 2011. Types of Payment Systems and Instruments. Retail Payment Instruments: , 03 March, pp. 4-9. Technology One, 2013. Human Resource & Payroll. [Online] Available at: http://www.technologyonecorp.com/hrms [Accessed 10 December 2013].