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
HRM Concepts
Three Models of Emotional Intelligence
The emotional intelligence field is a very new area of study in psychological research. The definition therefore is varied and is constantly changing. It was only in 1990 that Salovey and Mayer came up with the first published attempt in trying to define the term. They defined emotional intelligence as the ability to monitors one’s own and other feelings and emotions, to discriminate among them and to use this information to guide ones thinking and actions. Emotional intelligence to a larger extent involves “emotional empathy” which is the ability to concentrate on one’s emotions and recognize mood both of themselves and others. It further describes how well one is able to adapt to various life challenges like stress and difficult incidences. It also involves the ability balance “honest expression of emotions against courtesy, consideration and respect”. This would obviously involve possession of some level of good social and communication skills. Continue reading
Types and Methods of Employee Counseling
Types of Employee Counseling In attempting to help an employee who has a problem, a variety of counseling approaches are used. All of these counseling approaches, however, depend on active listening. Sometimes the mere furnishing of information or advice may be the solution to what at first appeared to be a knotty problem. More frequently, however, the problem cannot be solved easily because of frustrations or conflicts that are accompanied by strong feelings such as fear, confusion, or hostility. A manager, therefore, needs to learn to use whatever approach appears to be suitable at the time. Flexibility is a key component of the employee counseling process. Directive Counseling: It is full counseling. It is the process of listening to an employee’s problem, deciding with the employee what should be done and telling and motivating the employee to do it. This type of counseling mostly does the function of advice, reassurance Continue reading
Appraising Employee Performance
Need for Appraising Employee Performance in Organizations There are several reasons to appraise subordinates performance. First, appraisals play, or should play, an integral role in the employer’s performance management process; it does little good to translate the employer’s strategic goals into specific employees’ goals, and then train the employees. Second, the appraisal lets the boss and subordinate develop a plan for correcting any deficiencies the appraisal might have unearthed, and to reinforce the things the subordinate does correctly. Third, appraisals should serve a useful career planning purpose by providing the opportunity to review the employee’s career plans in light of his or her exhibited strengths and weakness. And, last but not least, the appraisal almost always affect the employer’s salary raise and promotional decisions. In reviewing the appraisal tools we discuss below don’t miss the forest for the trees. It doesn’t matter which tool you use if you’re less than Continue reading
Harvard Framework for Human Resource Management
One of the most important tasks that involve the personnel department in an organisation is human resources management (HRM). An organisation is only likely to achieve its objectives if their employees are used effectively. At the same time, planning how best to use human resources will help an organisation to achieve its objectives and goals. Human resources management has strategic implications. It means constantly looking for better ways of using employees to benefit the organisation. Strategic human resource management (SHRM) can be defined as a way of deciding on the plans and intentions of an organisation looking at the relationship between employment and the following human resource management processes and procedures within an organisation – development, recruitment, training, benefit and employee relations plans, performance management, strategies and procedures. It’s an approach to human resource management that has the goal of using people most wisely with respect to the strategic needs Continue reading
Different Stages of Career Development
The career stage approach is one way to look at career development. One way to characterize a person’s life or career is by identifying common experiences, challenges, or tasks most people go through as their life or career progress. As individuals have different career development needs at different stages in their careers, when an organisation recruits an employee in any of the grades of its cadre for a fairly long tenure, the employer must take interest in and take constructive steps for building up employees’ career from that point of time. Stage views of career development have their limitations. It is applicable to a typical individual. Since all individuals are unique, they may not have the same experiences. Therefore, career development stages differ from individual to individual due to obvious difference in perceived internal career. However, keeping in view of general requirements of people career development may be grouped under Continue reading