Work-life balance programs are fast gaining popularity in developed countries. Work-life balance programs can be defined as any benefits, policies or programs that help employees find ways to manage the demands of the workplace and life outside work. In other words, work-life balance programs are designed as a two pronged approach to achieve meaningful achievement and enjoyment in everyday life. There are many forms of work-life balance programs such as flex-time, child-care facilities at work, gyms and concierge services and paid vacations. Many reasons are cited for the introduction of work-life balance programs at the workplace, the most common being that it increases productivity as well as employee loyalty. While these are all valid justifications, the costs of having work-life balance programs should not be ignored. Therefore, do the benefits of work-life balance programs outweigh the costs? Going further, should these programs be considered a cost or an investment to 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.
3 Important Domains of Learning
The term learning means changes in our behavior, attitude, knowledge and skills. In other wards we can say that through learning we can feel permanently changes in our self. If we are not feeling any changes in our above skills then it will not be called as learning. The learning is a type of reinforcement, which may learn a change in behavior enduring by strengthening and intensifying certain aspect of an individual behavior. Learning may be described at the process of acquiring the ability to respond adequately to a situation, which may or may not have been previously an countered. The term domains of learning means classification, area and scope of learning. The classification allows the trainer to be better able to organize instruction and thereafter provides better structure and improved clarity. The main aim of domains of learning that the students will be better able to achieve success if Continue reading
What is Arbitration?
Arbitration is the means of securing a definite judgment or award for any controversial issue by referring it to a third party. It may imply the existence of an authority set apart to adjudicate on industrial disputes under recognized conditions. Arbitration is by mutual consent of the parties. When the Government decides to refer a case to a Labor Court or Industrial Tribunal, it is called adjudication. Thus, compulsory arbitration is referred to as adjudication. Arbitration involves the exercise of an authority to bring about an agreement or to help the process of settlement by adjudicating on industrial disputes. The arbitrator has powers to probe and in the process becomes acquainted with the facts of the industrial situation. Arbitration in industry shares several common features with conciliation and mediation. Just like conciliation and mediation, there is also intervention of third party. It can either be voluntary or compulsory like conciliation Continue reading
Conflict in Organizations
Conflict occurs at various levels within the individuals, between the individuals in a group and between the groups in an organisation. An issue between two or more parties who have (or think they have) incompatible goals or ideas. Conflicts may involve deep-rooted moral or value differences, high stakes distributional questions, or can be about who dominates whom. Conflict is a perpetual given of life, although varying views of it may be held. Some may view conflict as being a negative situation which must be avoided at any cost. Others may see conflict as being a phenomenon which necessitates management. Still others may consider conflict as being an exciting opportunity for personal growth and so try to use it to his or her best advantage. Definitions of Organizational Conflict “Working together is not always easy”, it is because of conflict. Conflict is a part of everyday life of an individual and Continue reading
Executive Compensation – Salaries and Compensation for Management
Executive employees, such as chief executive officers (CEOs), chief financial officers (CFOs), company presidents, and other upper level managers are often compensated differently than those at lower levels of an organization. Executive compensation consists of base salary, bonuses, long-term incentives, benefits, and perquisites. For the higher management, salaries are influenced by the size of a company, performance of the company, by the specific industry, and in party by the contribution of the incumbent to the process of decision-making. The more profitable the organization is the firm, the better is the compensation paid to the executives. Executive Compensation An executive is a person who is a member of the highest decision-making group in an organization. Chief executive officer (CEO), full-time directors and other senior managers fall in this category. Executive compensation includes base salary, bonus long-term incentives, and perquisites (perks) payable to executive. Executive compensation has become a hot topic in Continue reading
Performance Management System – Purpose, Criteria and Implementation
Performance Management is a process that enables an organisation to evaluate and continuously improve individual, subsidiary unit and corporate performance, against clearly defined, pre-set goals and targets. There is a very important link between performance management strategies applied to individuals or units which contribute to the organisation be it for global profitability. This linkage is also important as an individual’s performance is evaluated according to expectations of appropriate outcomes and behavior that contribute to organizational goal attainment. Any concern would need to devise an effective system for managing the performance of its global operations that assists strategic cohesion and competitiveness but it is also important to keep in mind not to impose onerous methods for the same invading the local receptiveness. Examining performance and ensuring adherence to agreed standards are key elements of an organisation’s managerial control system. Success of a company depends very much on all the stages and Continue reading