BMW (Bayerische Motoren Werke in German, or Bavarian Motor Works in English) is basically a German company with vast experience in the field of cars and was introduced in 1916. This company spends more money on its human inputs to add value and also its complex contribution of human resources creates its competitive advantage. BMW’s specialized staff which are able to offer superior quality of product and services in the market with the customer experience. Human resources plays important role in the BMW even in the time of recession as they have invest on the human inputs. But this depends on the financial condition and capabilities of the market as they had invested in training development and recruitment of the new management teams in their organisation. Earlier BMW was not giving importance to its customer services and its staff only focusing on its products and places for its expansion but Continue reading
Human Resource Management
Human Resource Management (HRM) is branch of management that deals with people at work, it is concerned with the human dimensions of management of the organization. As organization consists of people, therefore acquiring them, developing their skills, providing them motivation in order to attain higher goal and ensuring that the level of commitment is maintained are the important activities.
Idea of Workers Participation in Management
Workers participation in management refers to the involvement of employees in the decision-making process and management activities of an organization. This approach to management is based on the belief that employees are valuable assets to the company and should be given a voice in the direction and operations of the organization. Workers participation in management can take various forms, including collective bargaining, works councils, employee representation on boards, and employee involvement programs. The concept of workers participation in management has its roots in the labor movement of the late 19th and early 20th centuries. During this time, workers were organizing to improve their working conditions and wages, and were calling for a greater say in the decisions that affected their lives. Over time, workers participation in management has evolved and become an important aspect of modern management practices. Today, workers participation in management is widely recognized as a way to Continue reading
Data Security and Employee Confidentiality in HRIS Systems
HR data are typically confidential and sensitive. Consequently, a key concern with Human Resources Information System (HRIS) is the potential for the invasion (and abuse) of employee privacy by both authorized and unauthorized personnel. It is important for ensuring employee and management confidence in a HRIS to thoroughly explore questions about user access, data accuracy, data disclosure, employee rights of inspection and security. Failure to do so may result in ethical, legal and employee relations problems of a magnitude which could destroy the credibility of the system. ‘Establishing security and end user privileges’, says O’Connell, ‘calls for a balance of incorporating HR policy, system knowledge and day to day operations.’ The Human Resources Information System security checklist is: Review all PC-based HR applications. Verify that all users are properly trained in the secure use and handling of equipment, data and software. Ensure that all users sign-off (log-off) before they leave Continue reading
Purposes of Performance Management System
Performance Management is often a misunderstood concept most people associate it with concepts such as: Performance appraisal, Performance-related pay, Targets and objectives, Motivation and discipline. But, performance management is much more than this. Performance management is about getting results. It is concerned with getting the best from people and helping them to achieve their potential. It is an approach to achieving a shared vision of the purpose and aims of the organization. It is concerned with helping individuals and teams achieve their potential and recognize their role in contributing to the goals of the organization. A performance management system consists of the processes used to identify, encourage, measure, evaluate, improve, and reward employee performance at work. Employees’ job performance is an important issue for all employers. However, satisfactory performance does not happen automatically; therefore, it is more likely with a good performance management system. A performance management system serves a Continue reading
Compensation Strategies for Different Workforce Generations
Employees are the most valuable assets of any organization. The main purpose of human resource management (HRM) is to manage the development and performance of people employed in an organization. Some of the important tasks of HRM include attracting and retaining employees with the right skills and abilities, match people to the right positions within an organization and to align employee’s goals and objectives with that of the organizations. All these key tasks are directly or indirectly affected by compensation and benefits plan which the human resource management decides. Compensation and benefits redefines value and success in any workplace. An efficient compensation and benefits strategy is seen as an opportunity by organisations to differentiate them-self from their competitors, who may otherwise take away talented workforce. Hence, organisations need to know the evolving needs of the working population to make sure they offer the most competitive package. Compensation is a major Continue reading
Equity and Fairness of Employee Compensation Systems
Compensation is key to organisational strategy. It has an impact on attracting and retaining employees and ensuring optimal performance in meeting the organisation’s objectives. The economic importance of compensation is that it should allow the organization to maintain a cost structure that enables it to compete effectively and efficiently in its markets. Adams equity theory suggests that once an individual has chosen an action that is expected to satisfy his or her needs, the individual assesses the equity or fairness of the outcome. Three attitudes are possible; an individual may feel equitably rewarded, under rewarded, or over rewarded. When individuals feel under rewarded or over rewarded, they will do something to reduce the inequity. A further development ‘Fairness theory’ takes into account the notion of accountability and blame. When people identify an instance of unfair treatment, they are holding someone accountable for an action that threatens another person’s material or Continue reading