Fannie Mae's Human Resource Management Policies|Human Resource|Organization Behavior|Case Study|Case Studies

Fannie Mae's Human Resource Management Policies

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Case Details:

Case Code : HROB038
Case Length : 16 Pages
Period : 1999 - 2003
Pub Date : 2003
Teaching Note :Not Available
Organization : Federal National Mortgage Association
Industry : Mortgage Financing
Countries : USA

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HR Policies at Fannie Mae

Employee development, promoting and recognizing team work and individual performance, and fostering diversity were a part of Fannie Mae's core commitments and an integral part of its corporate philosophy. Until the mid-1980s, the HR policies were aimed only at ensuring that employee compensation and benefits were on par with the best in the industry. During that period, employee benefits across the industry were limited to retirement benefits, stock options, pension plans, and a few health and welfare benefits.

After the mid-1980s, the financial services industry, especially the home mortgage market, had to deal with a major increase in competition.

Human Resource and Organization Behavior | Case Study in Management, Operations, Strategies, Human Resource and Organization Behavior, Case Studies

To survive in a highly competitive market, companies had to focus on efficiency and growth. The development of a talented workforce was one of the ways in which companies could derive competitive advantage in such a market.

Around the same time, changing trends in American society and demographics (increasing number of nuclear families, single parent families and old people) required employees to pay more attention to their families' needs. As a result, employees tried to find ways to balance their work and family lives. Fannie Mae was among those few companies which recognized these changes and re-evaluated their HR policies, to meet the changing needs of the employees, in order to attract and retain talented workforce...

The Efforts Pay Back Manifold

By the early 21st century, Fannie Mae had been reaping the rewards of its innovative HR policies for many years. In early 2003, the company had one of the lowest turnover rates (3%) in the industry, which analysts attributed to its HR policies and organization culture.

The company had five minority members on its 17-member management board and eleven out of its 50 highest-paid employees were from minority communities.

About 44% of Fannie Mae's employees were minorities and around 44% of the employees in the top management cadre were women. The CMP included more than 300 formal participants and 100 informal participants in 2003 as compared to a mere 50 participants in 1994. In 2003, more than 12% of minority employees were participating in CPM. ...


Exhibit I: Fannie Mae - Ten Core Commitments
Exhibit II: Major Objectives of the Office of Diversity
Exhibit III: Working Mother Magazine Survey (2003)
Exhibit IV: Working Mother Magazine - Diversity Survey Report at Fannie Mae
Exhibit V: Awards And Recognition Received by Fannie Mae


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