The Senior Vice President of Human Resources has just informed you that she would like for you to research various HRM practices of Fortune 500 companies. This research will be presented to the board of trustees next month. They want to review other company's best practices to help them realign their strategic initiatives. In organizational studies, the process of reviewing other organizations' best practices and adapting them to one's own organization is called "benchmarking." Begin by identifying 2 -3 organizations listed in the Fortune 500. Once you have identified those companies, research best practices used by those organizations, paying particular attention to these HRM functional areas:
• Recruitment / On boarding
• Training & Development
• Employee / Labor Relations
• Performance Management
• Compensation & Benefits Incentives/Practices