Employee Turnover Intentions can be defined as a measurement of whether a business or organisation’s employees plan to leave their positions or whether that organisation plans to remove employees from positions. The pay level has an enormous impact on turnover intentions considering that people start seeking new job opportunities with higher salaries to satisfy their life needs. The pay level is more influential for employees than pay raises. Therefore, those workers content with their salary amount are less likely to search for a new workplace. When the payment decreases, the turnover intention increases vice-versa. As for the financial incentives, they are crucial for employees of the young age groups more than for older staff. Therefore, it is vital to cater to workers needs in the incentives scheme according to their age groups as this factor is not the most influential for the turnover intentions. As stated previously, the turnover rates rise Continue reading
Human Resource Concepts
Human Resource Planning (HRP) – Meaning, Definition, Features, Purpose, Need, Significance and Objectives
Human Resource is the most vital factor for the survival and prosperity of the organization. The human resource asset in a firm has the potential to appreciate the value of the firm. Though all the firms buy the same material and machines, the people in a firm make the difference in the final product. So the success of any organization mainly depends upon the quality of its human resource and their performance. Any forward looking management will be concerned with the problem of procuring or developing adequate talent for manning various positions in the organization. The success of a human resource planning process not only helps the organization itself, but also helps the society’s prosperity. The losses a firm suffers from inadequate human resource planning and utilization, is a loss to the nation. When these individual losses are added up the total losses may be very significant to the economy Continue reading
The Cultural Web – Johnson and Scholes’s Model of Organizational Culture
Organizational culture can be simply identified as the own unique personality that the respective organization practices. The group of people who works for the organization shares a system of Assumptions, Beliefs, and Values which governs them both individually and with the organizational needs. The cultural web model developed by Johnson and Scholes in 1993 is an important one, in which six dimensions of the organization culture are defined. The corporate culture consists of six major components, as structure, power structure, symbols, stories, rituals and control systems. They provide clear guidelines for the employees, about how things are performed within the organizational context; providing influences for the better change management. Cultural elements can be organized in the company to achieve productivity is described accordingly. Structure – Mainly refers to the structure of the company, in terms of the management layers and supervisory control. Modern organizations is thereby advised in adjusting to more flat type organization, Continue reading
Effect of Job Satisfaction and Organizational Commitment on Individuals Behavior
Job satisfaction and organizational commitment are the two of the prominent work attitudes that seen in the work environment. Job satisfaction is an emotional response to a job situation while organizational commitment is the strong feeling of responsibility an employee has towards the mission of the organization. Job satisfaction is simply how people feel about their jobs and different aspects of their job. People can either like (satisfaction) and dislike (dissatisfaction) their job. According to Frederick Herzberg, he believed that employees can like their job because various contributions it has. These contribution involves the work itself, pay, promotions, job achievement, co-worker, supervision and benefits contribute to employees satisfy with their job. He called it motivators. If employees are not satisfied with their job then the productions of the organization with not grow. Manager will see their employees as lazy and they will assume that they don’t want to work. This Continue reading
Concepts of Compensation and Compensation Management
Concept of Compensation The literal meaning of compensation is to counter-balance. In the case of human resource management, compensation is referred to as money and other benefits received by an employee for providing services to his employer. Money and benefits received may be in different forms-base compensation in money form and various benefits, which may be associated with employee’s service to the employer like provident fund, gratuity, insurance scheme and any other payment which the employee receives or benefits he enjoys in lieu of such payment. Cascio has defined compensation as follows: “Compensation includes direct cash payments, indirect payments in the form of employee benefits and incentives to motivate employees to strive for higher levels of productivity” Based on above description of compensation, we may identify its various components as follows: Wage and Salary: Wage and salary are the most important component of compensation and these are essential irrespective of Continue reading
Professionalism in Human Resources Planning
Human resource planning determines the human resources required by the organization to achieve its strategic goals. Human resource planning is the process for ensuring that the human resource requirements of an organization are identified and plans are made for satisfying those requirements. In human resource planning people are the most important strategic resource for an organization. Whereas HR Planning generally concerned with matching resources to business needs in the longer term, although sometime address shorter-term requirements as well. HR Planning also looks at broader issues relating to the ways in which the people are employed and developed in order to improve organizational effectiveness. So HR Planning plays an important role in strategic human resource management. Professionalism in HR planning The first part of professionalism in HR Planning is understanding the customer, the customer requirements and providing customer satisfaction. HR is increasingly viewed as a service; a service both to employees Continue reading