Please respond to discussion post:
I hope everyone had a great holiday! Below is my executive summary for the research project.
The function of Human Resources in global business is critical to gaining and maintaining competitive advantage. A successful business deploys its resources in HR to establish a neutral environment that supports the best interest of employees and the organization itself (The Role of HR, 2022). As such, global organizations such as Teachers Insurance and Annuity Association (TIAA) have developed an organizational structure that allows them to deliver elite services to the financial industry by recruiting the best and brightest talent to serve their customers. TIAA is a Fortune 500 company lead by Thasunda Brown Duckett, CEO of the powerhouse financial management firm. Duckett is responsible for managing over $1 trillion in total assets, for over 5 million individual customers, according to the company’s website. The company’s product and service offerings include retirement options, banking services, and fiduciary support.
TIAA is a leader in the financial services industry next to other large firms such as Mutual of Omaha Insurance Company and The Vanguard Group, Inc. These companies have been recognized for their efforts in providing a thriving work environment for employees. This is part of what enables them to compete for human capital in an ever-evolving workforce where employees are demanding more flexibility, increased wages, and expanded employee benefits. These companies are faced with ongoing challenges to fill vacant positions in a post-pandemic environment.
As a result of the pandemic, and the rise of The Great Resignation, employers are finding it more difficult to retain employees. At the height of the pandemic in 2021, more than 24 million American workers left their employers due to resignation, retirement, or layoffs (Sull et al., 2022). This report will explore organizational strategies and cultures and provide a comparative analysis of TIAA, Mutual of Omaha, and The Vanguard Group. In addition, this report will provide an overview of these company’s employee relations, benefits and compensation, competitive advantage, deployment of new technologies and other critical aspects of their businesses. Finally, the report will provide a SWOT analysis of TIAA accompanied by recommendations on how the company can improve business practices.
References
Role of HR in helping a company maintain a competitive edge. uttyler. (2022, September 27). Retrieved December 29, 2022, from https://online.uttyler.edu/degrees/business/mba/general/role-of-hr-in-competitive-edge/#:~:text=One%20of%20the%20most%20important,the%20people%20who%20work%20there.
Sull, D., Sull, C., & Zweig, B. (2022). Toxic culture is driving the great resignation. MIT Sloan Management Review, 63(2),1-9. https://aiuniv.idm.oclc.org/login?url=https://www-proquest-com.aiuniv.idm.oclc.org/scholarly-journals/toxic-culture-is-driving-great-resignation/docview/2633007986/se-2
Who we are. TIAA. (n.d.). Retrieved December 29, 2022, from https://www.tiaa.org/public/plansponsors/who-we-are