Before examining how work-life balance programs contribute to increased retention of employees, its better to examine some of the key reasons for employee turnover. It is widely acknowledged that conditions at the workplace affect job turnover. There are many reasons why employees quit because of conditions at the workplace such as long hours, conflict with colleagues and superiors, lack of appreciation shown by employers and unclear job descriptions. For example, long hours at work and increased work intensity both contribute to adverse physical and psychological conditions and lead to negative family functioning. Workplace stress can be caused by long working hours, excessive workloads, weekend duties, inadequate physical activity and an unhealthy lifestyle. All these lead to a reduction in the quality of health. When employees are severely overworked and excessively strained, they experience symptoms of fatigue, depression, musculo-skeletal pains, sleeping disorders and an increase in chronic diseases. When the situation Continue reading
HRM Functions
The Role of Human Resource Management in Organizations
Nowadays, Human Resource Management (HRM) has become one of the major partners of an organization. Human resource management deals with managing people in an organization that means recruiting efficient and skilled employees in the right jobs at the right time at the right cost. Human resource management plays a major role in achieving organizational aims and objectives. To achieve these aims and objectives, human resource management has to apply some strategies to the organization and organizational management and follow the strategic processes to face and overcome the completion of the outside world. Strategic human resource management is one of the parts of human resource management which links with the implementation of strategic goals and organizational objectives that improves business performance and development of the organization. Strategic human resource management focuses on the key areas of HR, where long-term strategies can be implemented for the improvement of productivity. It also solves Continue reading
Work-Life Balance – Definition, Significance and Importance
Work-life balance is a very broader term in Human Resource Management and often referred to finding the right equilibrium between the different aspects and roles in a life of a person. Although there are different views and concepts about work-life balance but it is generally coupled with maintaining an overall balance in different aspects of life. During the last decade technological revolution has stormed all aspects of life and there were different debates about the future of work. Different scenarios predicted a rising trend in un-employment and economic insecurity. Industrial restructuring and emergence of latest technology no only affected the importance of workforce but it was also felt that employees will be treated as superfluous overheads. History of Work-Life Balance In 1986, the term “Work-Life Balance” was first identified, but it’s usage in everyday language was still sporadic for a certain number of years. Although, interestingly work-life programs existed in Continue reading
Cross-Cultural Preparation in Employee Training Programmes
“Cross-Cultural Preparation is the process of educating employees (and their families) who are given an assignment in a foreign country”. Cross cultural preparation educates employees (expatriates) and their families who are to be sent to a foreign country To successful conduct business in the global marketplace, employees must understand the business practices and the cultural norms of difference countries. Steps in cross-cultural preparation. To prepare employees for cross-cultural assignments, companies need to provide cross-cultural training. Most U.S companies send employees overseas without any preparation. As a result, the number of employees who return home before completing their assignments is higher for u.s. companies than for European and Japanese companies. U.S companies lose more than $2 billion a year as a result of failed overseas assignments. To succeed overseas, expatriates (employees on foreign assignments) need to be. Competent in their areas of expertise. Able to communicate verbally and non-verbally in the Continue reading
Difference Between Career Planning and Career Development
Broadly, the term career is referred to an individual’s entire work life. In a narrow sense, it can be defined as the succession of jobs and or ranks held by a person in a particular organisation. An individual’s career begins with placement in a job and ends with departure from the organisation, may be in form of retirement, resignation or death. In between, the career progression consists of changing tasks, tenure in various jobs, temporary or permanent promotions, transfers etc. Career planning and development includes all those events that is happening to or initiated by an individual affecting his/ her progress or promotion. It happens by widening and/or changing employment possibilities and is characterized by different and higher status, better conditions of service and increased satisfaction with the job. It revolves round events and occurrences an individual goes through while moving up the hierarchic ladder. Career development is the process Continue reading
Work-Life Balance Programs – Cost or Investment?
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