HaHancock Holding Company, NASDAQ identifier HBHC, owns and operates Hancock Bank and serves the Gulf Coast states of Alabama, Florida, Louisiana, Mississippi, and Texas. Hancock Holding Company is of particular interest because of its ability to recruit former colleagues as well as its continuing evolution and presence in the Gulf Coast Bay area as a competitor. In 2011, the holding company purchased Whitney Bank, another regional bank, and continues to integrate the two banks while identifying strategic opportunities for growth and streamlining of processes. One of the attempts to streamline processes associated with the Human Resources department involves the implementation of a new hiring process.
AsAs a federally regulated institution that receives monetary support from the Federal Deposit Insurance Company, HBHC must comply with numerous regulations in addition to the standard employment laws of the United States. One of the regulatory requirements directs the recruiting practices of banks and is regulated by the OFCCP or Office of Federal Contract Compliance Programs. According to the United States Department of Labor's website, the OFCCP enforces the contractual promise of affirmative action and equal employment opportunity required of those who do business with the Federal government. Many of the statutes within the regulation detail the approved processes for posting positions and the selection of individuals for hire. Because of the expensive fines associated with this regulation, HBHC must institute a hiring process that not only complies with this laborious regulation but also streamlines the processes between the two banks. Primarily, the project must mitigate potential risks identified in the current hiring process, provide cost efficiencies, increase the productivity of the recruiting staff and provide the required reporting capabilities not available under the current processes.
[...] Research Technology Management, 32-39. Retrieved from http://search.proquest.com/docview/213801829?accountid=458 Project Insight. (2013) Basic Phases of Project Management. Retrieved from http://www.projectinsight.net/project-management-basics/basic- project-management-phases.aspx Rozenes, S. (2011). The Impact of Project Management Methodologies on Project Performance. International Journal of Information Technology Project Management (IJITPM), 64-73. doi: 10.4018 /jitpm.2011040105 Sinha, R., & Klapman, A. [...]
[...] One of the attempts to streamline processes associated with the Human Resources department involves the implementation of a new hiring process. As a federally regulated institution that receives monetary support from the Federal Deposit Insurance Company, HBHC must comply with numerous regulations in addition to the standard employment laws of the United States. One of the regulatory requirements directs the recruiting practices of banks and is regulated by the OFCCP or Office of Federal Contract Compliance Programs. According to the United States Department of Labor's website, the OFCCP enforces the contractual promise of affirmative action and equal employment opportunity required of those who do business with the Federal government. [...]
[...] Any updates impacting the legal or technological scope of the project will also require approval from the team members in those departments. Project Scope 1 Outline of Scope Rozenes (2011) asserts the primary objectives of a project should strive to achieve the following objectives: Be on time Be within budget Satisfy the client's outlined performance expectations In addition to these objectives, the new hiring project will mitigate potential risks identified in the current hiring process, provide cost efficiencies, increase the productivity of the recruiting staff and provide the required reporting capabilities not available under the current processes Objectives The project is designed to implement a new hiring process for Hancock Holding Company that accomplishes the following: Mitigate risks identified in the current hiring process Comply with the federal regulations applicable to employment processes including those outlined by the OFCCP or Office of Federal Contract Compliance Programs Provide the required reporting capabilities to not only improve productivity but also Provide cost efficiencies Increase the productivity of the recruiting staff 3 Success Criteria Successful implementation of the project will allow Hancock Holding Company to implement a more streamlined and updated hiring process. [...]
[...] Project Approach 1 Project Lifecycle Processes According to Project Insight (2013), the project management process can be divided into five phases that include: project initiation, definition and planning, launch or execution, performance and control, and project close. The project plan for Hancock Holding Company will follow the phases outlined by Project Insight (2013). The first phase, project initiation, is defined as when a decision making team identifies the need for the project as well as the benefits to the company (Project Insight, 2013). Once this portion has been completed, a project plan and charter is developed during the definition and planning phase. [...]
[...] It is also during this second phase when the project is prioritized, a work breakdown structure is developed and the budget is created. Once the key deliverables have been implemented during the launch or execution phase, the project reaches a close once the clients approve of the project's outcome Project Management Processes According to Josler and Burger (2005), proper project management and tracking can add significant value to the human resources management department. One of the first steps to be taken by the client is to identify the project owner within the human resources division as well as an internal project team composed of a member of management from recruiting, compliance, technology and legal departments to ensure the project's implementation addresses the identified objectives as well as provide guidance on successful implementation measures within the company. [...]
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