Fidelity Investments- Human Resources
Fidelity Investments
Fidelity Investments- T&D Program
HR Transformation strategy- Fidelity Investments
Key Issues identified in interview
Communication
Change management
Technology utilization
Business Case: Context of program application
Mission Metric
Financial Metric
Operational Metric
HR redesign
Accountability
Table 1- Implementation and Accountability of L&D program
Figure 2 Business Case Rationale for T&D program at Fidelity
Figure 3- HR Redesign Elements
This HR Learning and Development (L&D) program proposed for Fidelity Investments is aimed at addressing the key challenges faced by the firms in its human resource management. There are several instances when HR function has contributed to the bottom line of firm as well as pursued an egalitarian culture of society. Present program is spanned over 5 weeks and will be implemented in Americas & Canada region initially. With successful implementation of this L&D program in one region (Americas & Canada), further implementation will be recommended in regions of Europe, MENA, and Asia Pacific.
The desired outcomes of this program are defined as increasing cross-selling of mutual funds across newly defined regions of Fidelity Investments. The desired outcomes also include increasing revenue from global mutual funds service of the firm and to increase the holding tenure of each corporate mutual fund account managed by the company. These outcomes will be realized through L&D program aimed at increasing collaboration of associate team across regional countries and using information technology to increase core competency of the firm in each geographical region. Time line along with implementation mode of this program is presented in form of table. The short-term effectiveness of this program will be assessed by the HR manger of Fidelity Investments where compliance to the 'outcomes' defined in section two of the program will be evaluated by Vice President (VP) Branch Learning and Development, Mr. Robert Wilkinson. The program will allow the company to redesign the operational set up and will now be based upon regions rather than individual countries. This will be facilitated through the new communication and collaboration designed in the program.
HR Transformation strategy- Fidelity Investments
Introduction
A brief introduction to Fidelity Investments was provided in the first part of this capstone project. The firm belongs to financial services industry that has undergone several changes during the last few years, some related to operations and marketing whereas other related to strengthening of regulatory procedures by the government. In such circumstances, Fidelity Investments with an overall employee number of 41,000, and operations in insurance and investments services (Fidelity Investments, N.d.) faces tremendous challenge to not only come to the expectation of their vast client base but to lead growth in respective industry segments. With such backdrop and an interview transcript now available (after conducting the interview with Mr. Rovert Wilkinson), the researcher now aims to present an integrated HR transformation program for this firm.
Background: Key Issues identified in interview
The key issues that were identified as a result of an interview with Mr. Wilkinson are summed up below.
Communication
Communication was the first issue highlighted as a challenge that Fidelity Investments faces. To address this issue, the firm has adopted a traditional approach by conducting daily staff and executive meeting. This needs to be synchronized and automated.
Change management
Change management is another issue faced by Fidelity. The firm is rapidly growing and faces growth-fatigue in form of higher turnover and compromised morale of employees. To help give the company an all-inclusive and well-coordinated direction, there is a process of change management already underway in the firm.
Technology utilization
Imparting learning and development (L&D) to Fidelity associates is most essential function that requires using state-of -- the art technologies such as webinars, integrated knowledge sharing platforms, and internal web portals of the company.
Business Case: Context of program application
This component of HR reorganization program answers 'why' is the program necessary? The interview findings as well as the recommendations developed in the previous paper identify three broad needs of Fidelity Investments. These are hierarchical in nature, for instance change management is an on-going function whereby it enables continuous L&D for new and existing associates. Secondly, effective communication is required by Fidelity as being a large horizontal organization, this communication need is horizontal and vertical as well as diagonal. Lastly, to facilitate continuous change management and L&D, effective communication can only be enhanced through new tool and techniques of information sharing and collaboration within the firm. Following figure graphically represents why a training and development (T&D) program aimed at increased internal collaboration of Fidelity makes the much needed business case.
Figure 2 Business Case Rationale for T&D program at Fidelity
Intangible...
Mergers and Acquisitions: Human Resources HR Role in Mergers & Acquisitions Mergers and Acquisitions Human Resources The purpose of this work is to access the functions and strategies that must be implemented into a successful process of merger and acquisition within the company in relation to the management of human resources [i.e. employees]. Further to do so from the approach of a "value added partnership" in terms of the substantiation of a Return of
Every organization has limits on the resources available to it, and outsourcing career services will permit IBM to redirect its resources toward activities which serve the customer. IBM will be able to redirect the people that previously worked in the career services area to different value adding activities. For example, employees whose energies are currently focused internally can now be focused externally on the customer. IBM's company focus can
Firms under the guidance of individual investors are more likely to take a conservative approach to ethics, since the shareholders may take a greater interest in this 'human' side to investing than a large firm like Fidelity. Also, very simply, if Fidelity or one of the companies in which it concentrates a large share of its ownership experiences financial difficulties is in trouble, then Fidelity, investors in Fidelity mutual
Goal setting works well for simple jobs -- clerks, typists, loggers, and technicians -- but not for complete jobs. Goal setting with jobs in which goals are not easily measured (e.g., teaching, nursing, engineering, accounting) has posed some problems. Goal setting encourages game playing. Setting low goals to look good later is one game played by subordinates who do not want to be caught short. Managers play the game of setting
Environmental scan The Company for Cooperative Insurance cites the origins of its name and how it affects their corporate culture: "Tawuniya is the simplification of the Arabic word for 'co-operative' and was already established amongst the related customer base by this name. The new name and identity takes ownership of this insurance category and evokes a strong emotional connection to customers as 'co-operative,' which is the only accepted form of Islamic
The managers at DigiSnap emphasized on this characteristic and drastically reduced operational costs, to culminate with a 22% reduction in the retail price. The endeavor gained them increased numbers of customers and a wider market coverage. 7. Product Strategies We have placed increased emphasis on the four elements of the marketing mix -- product, place, promotions and price. The retail prices were established based on the variable pricing strategy, which sees
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now