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The Success Of The Business Entities In Ireland

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Question:

Discuss about the Investigation of Criteria that affects day to day Management of Business in Ireland.
 
 

Answer:

Introduction

Ireland has today become a destination for many multinational companies that are engaging in different activities in the production and manufacturing sectors. Ireland has become a business attraction country because of the positive approach of its successive government to the promotion of inward investment and its membership to the European Union as well as the favorable tax rate and the highly skilled and flexible labor pool[1]. Ireland has been recognized as a stable parliamentary democracy that has a written constitution headed by the president. The state is operating under the Euro currency that has marked it the best investment destination for many multinational companies. Its economic growth has also been on the rise prompting many businesses to record success in the well-run financial system that has been consecutively among the highest of countries in the organization for economic cooperation and development (OECD). This paper is aiming at investigating the criteria affecting the daily business operations in Ireland by considering various elements in the organization development and employment sectors.

Industry guidelines and recommendation practices

The Ireland market has been known for their business operation that is characterized by honesty, fairness, and integrity. To maintain the high reputation, the employees conduct their activities and personal processes in a manner that severely affect the state’s business status. It has been a standard exercise for the employees coming up with their formal codes of business to regulate the manner in which the employees appreciate and resolve ethical and legal issues encountered during their duties. Ireland has its codes that set the general principles and standards governing the professional activities and in the management of the employees both permanent and contract.

 


In the contexts of in-house staff, companies usually conduct their operations from within and never depend on the environment. In contract staffing, employee’s works for their employees under a contract and for specific tasks within agreed rates[2]. One benefit for in-house staffing is that it is cost saving regarding the training of the employees as there will be no costs for recruiting more workers but training the existing employees. However, it is disadvantageous as it interrupts the employees as the training may be interfered with when the employee is called for an emergency attendee in the firm and may never attend the entire sessions of training.

Contract staffing is beneficial because the employee stands to get a permanent employment if they are found to be impressive in their performance. Also, the company can benefit from getting new ideas as these employees work on different projects simultaneously and can use knowledge from one project to perfect another. But, there is also the limitation side of the staffing. The employer knows the contract employee is worming for a limited time and as such, might not invite them into the inner circles of the office and share valuable information with him. Also, contract staffing is disadvantageous because the employee will not be added any extra pay. The common benefits will also not be available for employees working under contracts[3].

Investors are always in need of protection for different elements that threaten their finances. As such, they seek membership in regulatory agencies and trade unions to advocate for them. Employees benefit from the groups of the regulatory bodies because these agents advocate for the increase in wage for the employees. For the companies, the group helps in regulating the market by counterbalancing the monopoly power.  To the disadvantage, if the becomes more competitive, the high wages might lead to unemployment. Companies are also risking the loss of productivity whenever the unions are on strike, or they work unproductively.

 

Staff recruitment

In the process of seeking to get the best out of employees, the business people and investors in Ireland consider making sure they recruit the best potential candidates to get the greatest contributions. The companies and multinational corporations in Ireland have adopted unstructured approaches in the recruitment. From the records, it has been the approach used in the recruitment and selection processes for most of the successful global businesses. The process has been attributed to various success factors that has lead to the improvement of business performance levels and also in the production and manufacturing sectors as companies have proved to have the best employees in these areas[4]. The key the investors employ in the process is the definition of the overall policy that will set parameters for how to manage the important section. The systems facilitate internal and external communication of the commitments in the area and also make sure fairness and transparency are applied. On receiving many applications for the advertised position, there is an interview for fewer people that take longer where the applications are screened to get the best-suited candidates. The process may decide to use behavioral interviewing to be able to screen and filter the employees to remain with the best. The application forms will then be released with the shortlisted candidates after the filtration for the more comprehensive selection process. The process has been the best for the investors in Ireland because they always get the best desirable number of candidates for their positions. The unstructured approach allows the businesses to get candidates from various reputable institutions and also candidates with `different skills and experiences. The process gives the businesses the chance to get candidates who will be committed and dedicated to their duties in the firms and will be highly productive and more reliable[5].

 

Staff training process

After a successful recruitment and selection process, the candidates are taken through training and induction. Induction is the process of receiving and welcoming employees on their first time of joining the business and giving them the necessary information needed for a start. Introduction aims at smoothing the early stages of the employees when they feel strange, and everything is new and to be able to establish an attitude to the firm to the employee's mind to make them want to stay longer. The induction process gives the employees brief description of the company and the underlying conditions of their employment. Usually, an employee handbook can be provided to serving the purpose although face-to-face induction is necessary[6]. After the installation, employees are taken to their place of work and introduced to their managers or team leaders for the departmental selection program. The process can include operating using a checklist of the training and other information that might boost their first month in their roles. However, the training should not stop at the induction but should be a regular process[7]. All the employees in the company should be receiving appropriate on and off training regularly to be able to balance desires of the business and the individuals. The local firms and the multinational companies in Ireland have been appreciative of the training and induction processes, and they know the benefits associated with the process. As such, they are usually strategic in the process to ensure the new employees are given the best reception and the best image of the firm to allow them to work with a desirable vision.

 

Staff evaluation

The monitoring of the employee performance is usually a recurring process, but the new hires are taken through various assessment procedures. There is an end of the day or week assessment where there is a quick chat with the representative on the parts that becomes challenging to be sure that all the setting is well.  There can also be an evaluation at the end of the month where there is a more detailed chat. It is where the performance of the employee is reviewed in detail, and the positive reviews noted. The employee should as well be notified on the there are identified passive views, and they are offered coaching and support after which frequent follow-ups are made. It is critical to determine the problems and address them earlier before the probation period of the employee expires[8].

After the end of the probation, there should be another evaluation that will determine if the employee will be confirmed fit for the position. This will be after all the problems have been addressed and the point should be the first appraisal point of the employee for the identified strengths and future goals. The pay of the employee might be revised at upwards if the contract mentioned any such commitments. Through the review of the early performance of the employee in a staged fashion, one will be sure to deliver the expected results in a more appropriate manner, but also show them that they are exciting parties in the firm and that they can grow and develop while in the employment. The evaluation process can be a chance to know the effectiveness of the recruitment process[9].

Conclusion

The paper has highlighted on some of the processes and activities that define the success of the business entities in Ireland. Ireland has become a business attraction country because of the positive approach of its successive government to the promotion of inward investment and its membership to the European Union as well as the favorable tax rate and the highly skilled and flexible labor pool. It has been a standard exercise for the employees coming up with their formal codes of business to regulate the manner in which the employees appreciate and resolve ethical and legal issues encountered during their duties. Ireland has its codes that set the general principles and standards governing the professional activities and in the management of the employees both permanent and contract. The process of recruitment of the employees, through to their selection and evaluation has as well been discussed in the paper. It is evident how the businesses record success in their operations as they employ the best practices in their organizational development efforts. It is as well clear that through the review of the early performance of the employee in a staged fashion, one will be sure to deliver the expected results in a more appropriate manner, but also show them that they are exciting parties in the firm. They can grow and develop while in the employment. The evaluation process can be a chance to know the effectiveness of the recruitment process.

 

Bibliography

Aswathappa, K., and Sadhna Dash. 2008. International human resource management: text and cases. New Delhi: Tata McGraw-Hill Pub.

Barrett, Rowena, and Susan Mayson. 2008. International handbook of entrepreneurship and HRM. Cheltenham, UK: Edward Elgar. https://public.eblib.com/choice/publicfullrecord.aspx?p=338798.

Curristine, Teresa. 2008. Ireland: towards an integrated public service. Paris: OECD. https://site.ebrary.com/id/10245545

Dale, Margaret. 2003. A manager's guide to recruitment & selection. London: Kogan Page.

Elearn Limited (Great Britain). 2009. Recruitment and selection. Amsterdam: Elsevier/Pergamon.

Paauwe, J., David Guest, and Patrick M. Wright. 2013. HRM and performance: achievements and challenges. Chichester, West Sussex: Wiley.

Price, Alan. 2011. Human resource management. Andover: Cengage Learning EMEA.

Sims, Ronald R. 2007. Human resource management: contemporary issues, challenges and opportunities. Greenwich, Conn: Information Age Publ.

Sharma, S. K. 2009. Handbook of HRM practices: management policies and practices. New Delhi [India]: Global India Publication Pvt Ltd.

[Teresa. Curristine, 2008. Ireland: towards an integrated public service. Paris: OECD. https://site.ebrary.com/id/10245545.

Elearn Limited (Great Britain). 2009. Recruitment and selection. Amsterdam: Elsevier/Pergamon.

Margaret Dale,. 2003. A manager's guide to recruitment & selection. London: Kogan Page.

Rowena Barrett, , and Mayson Susan. 2008. International handbook of entrepreneurship and HRM. Cheltenham, UK: Edward Elgar. https://public.eblib.com/choice/publicfullrecord.aspx?p=338798.

J aauwe,., Guest David, and Wright Patrick M.. 2013. HRM and performance: achievements and challenges. Chichester, West Sussex: Wiley.

Alan Price, 2011. Human resource management. Andover: Cengage Learning EMEA.

Ronald Sims. 2007. Human resource management: contemporary issues, challenges and opportunities. Greenwich, Conn: Information Age Publ.

K Sharma, S.. 2009. Handbook of HRM practices: management policies and practices. New Delhi [India]: Global India Publication Pvt Ltd.

K Aswathappa, and Dash Sadhna. 2008. International human resource management: text and cases. New Delhi: Tata McGraw-Hill

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