Essay: Northampton Insurance Company (NIC)

25 Jul

Essay: Northampton Insurance Company (NIC)

Sample Essay

Human Resources (HR) Strategy

Introduction

InUKfinancial service sector market, Northampton Insurance Company (NIC) is one of the largest financial services company. This is much evident on the premise of the 7 million customers locally, asset base of £34 billion with average employees of a bout 12,000. In addition to that, in the financial year that ended 2007 NIC had income £ 4.17 billion. However this seen success story seem to be in danger, since the firm has some foreseen difficulties that are deeply rooted in the Human Resources management practices.

On this ground the challenges are in terms of the recruitment, selection and retention. In addition, organization culture that is stifled which do not facilitate innovation, motivation and also the work conditions that need to be addressed properly to put back the firm prospects. Therefore in that perspective, this HR strategy for NIC shall address these HR management challenges.

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