People are integral part of any organization today. No organization can run without its human resources. In today’s highly complex and competitive situation, choice of right person at the right place has far reaching implications for an organization’s functioning. Employee well selected and well placed would not only contribute to the efficient running of the organization but offer significant potential for future replacement. Recruitment comes at this point of time in the picture. Recruitment is a strategic function for HR department. Recruitment means to estimate the available vacancies and to make suitable arrangements for their selection and appointment. Recruitment is understood as the process of searching for and obtaining applicants for the jobs, from among whom the right people can be selected. A formal definition states, “It is the process of finding and attracting capable applicants for the employment. The process begins when new recruits are sought and ends when 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.
The Importance of Reward Management
Reward management in a business organisation is basically the way in which that particular business forms and implements strategies and policies to reward the employees to a fair standard and in accordance with how the organisation values them. Reward management in a business organisation usually consists of the business analyzing and controlling the employee’s remuneration and all of the other benefits for the employees. The main aim of reward management in a business organisation is to reward the employees fairly for the work that they have completed. The main reason reward management exists in business organisations is to motivate the employees in that particular organisation to work hard and try their best to achieve the goals which are set out by the business. Reward management in business organisations not only consist of financial rewards such as pay but they also consist of non-financial rewards such as employee recognition, employee training/development Continue reading
Employee Assistance Program (EAP)
Employee Assistance Programmes (EAPs) are used to make professional help available to the employees. Typical Employee Assistance Programmes offer assistance to employees in such areas as alcoholism, drug abuse, emotional stress, family problems and financial indebtedness. Although research findings tend to vary, it is believed that EAPs are valuable contributors to both employees and employers. First of all, giving employee assistance is simply the right thing to do from the standpoint of humanity, and there are some cost-benefit arguments in favor of EAPS. Certainly, the resolution of personal problems tends to make the employee a more effective contributor to employer objectives. That is, money spent on abating alcoholism among the workforce is perceived to be cheaper than money spent on ineffective performance, lost time, illness and death on the part of employees suffering from the disease of alcoholism. Characteristics of an effective EAP The EAP should be staffed with competent Continue reading
The Benefits and Importance of Job Rotation
Job rotation is the surest way of keeping the employee away complaint and daily routine. It is difficult for an employee to sustain his interest in the given job. Humans have the tendency that they want to earn profit from job rotation like learning and experience in different jobs in a specified period. In an organization, Job rotation has importance because it effects the performance of employees and also effects the profit of a company or organization. By job rotation employees developed himself a lot and learn that how the task will complete or what is the parameter is required for the different jobs. A well planned job rotation programmed in an organization has immense potential of positive impact on job satisfaction, engagement of people and finally on retention of people. The benefits and importance job rotation programs in organization are listed below; 1. Business Benefits and Impacts Business results Continue reading
Guidelines for Effective Performance Appraisals
The performance appraisal requires willingness and a commitment to focus on improving performance at the level of the individual or team every day. Like a compass, an ongoing performance appraisal system provides instantaneous, real-time information that describes the difference between one’s current and desired course. To practice sound performance appraisal system, managers must do the same thing-provide timely feedback about performance, while constantly focusing everyone’s attention on the ultimate objective of being the best among the competitors in the market. Well-written performance appraisals are among the most effective tools for developing people. The following guidelines would be used for effective performance appraisals to significantly increase your team’s effectiveness and perceived value within your organization. Increase employees comfort level with performance appraisals. At the beginning of each review period, explain the appraisal process, rating system, and appraisal form. Agree on performance objectives and measurements for the upcoming review period. Start thinking Continue reading
International Compensation Management
Designing and developing a better compensation package for HR professionals for the international assignments requires knowledge of taxation, employment laws, and foreign currency fluctuation by the HR professionals. Moreover, the socio-economic conditions of the country have to be taken into consideration while developing a compensation package. It is easy to develop the compensation package for the parent country national but difficult to manage the host and third country nationals. When a firm develops international compensation policies, it tries to fulfills some broad objectives: The compensation policy should be in line with the structure, business needs and overall strategy of the organization. The policy should aim at attracting and retaining the best talent. It should enhance employee satisfaction. It should be clear in terms of understanding of the employees and also convenient to administer. The employee also has a number of objectives that he wishes to achieve from the compensation policy Continue reading