Today, most of the companies believed that in order to achieve and sustained effectively, human resource management (HRM) needs to be efficient. Effective HRM can be main factor for the success of an organization. In the new economy, it has become a trend of employees staying on for a short duration in any one organization, which results to many problems. Failure in managing human capital will create fatal problems to the company. Therefore, most of the organizations, both domestic companies and multinational corporations (MNCs) tend to focus more on HRM as a key of success. 1. Hiring the Right People Hiring the right people from the start would also reduce employee turnover. Managers should have a clear idea of the types of people they want to hire for each position, write detailed job descriptions and commit to hiring the best candidates rather than the first candidates who meet minimum requirements. Continue reading
Human Resource Concepts
HRM Functions: Training and Management Development
Having selected the manager for the job, he or she must be trained. However, it is not sufficient to provide training only for the manager: the whole family must be trained. Training should include at least two phases. Pre-departure training should focus on language, history and culture for the whole family and on job-specific training for the manager. On arrival in the new country two or three weeks without too much job-related activity should be allowed for adaptation to the new culture. Transition training should continue with language and culture training as well as meetings at which the new expatriates have the chance to mix with local residents and other foreign nationals. Caring for expatriate managers does not cease at this point. The home office must remain alert to the need to provide psychological support in a variety of ways and to convince expatriates that they are not being disadvantaged Continue reading
Objectives of Compensation Management
The basic objective of compensation management can be briefly termed as meeting the needs of both employees and the organisation. Since both these needs emerge from different sources, often, there is a conflict between the two. This conflict can be understood by agency theory which explains relationship between employees and employers. The theory suggests that employers and employees are two main stakeholders in a business unit, the former assuming the role of principals and the latter assuming the role of agents. Objectives of Compensation Management The compensation paid to employees is agency consideration. Each party to agency tries to fix this consideration in its own favor. The employers want to pay as little as possible to keep their costs low. Employees want to get as high as possible. The compensation management tries to strike a balance between these two with following specific objectives: 1. Attracting and Retaining Personnel From organisation’s Continue reading
External Sources of Recruitment
External sources of recruitment seeks applicants for positions from sources outside the company. External employees already worked for major companies or competitors have better understanding of business strategy and competitive market. Though recruiting external candidates might be tougher but it has some positive effect on business. They have outnumbered the internal sources of recruitment. The various external sources include: Professional or Trade Associations : Many associations provide placement service to its members. It consists of compiling job seeker’s lists and providing access to members during regional or national conventions. Also, the publications of these associations carry classified advertisements from employers interested in recruiting their members. These are particularly useful for attracting highly educated, experienced or skilled personnel. Also, the recruiters can zero on in specific job seekers, especially for hard-to-fill technical posts. Advertisements : It is a popular method of seeking recruits, as many recruiters prefer advertisements because of their Continue reading
What is HR Professionalism?
In order to understand what HR professionalism is we first have to break down what it means to be a professional. The term professional could be an individual who is a qualified member of a professional body, someone who continuously updates their knowledge, is competent, and uses their skills in practice. Professionalism could be interpreted as the use of specialist knowledge necessary to perform a particular type of work or role. Professionals are associated with increased training, the development of professional knowledge standards, and a requirement to update this knowledge. One way the CIPD (The Chartered Institute of Personnel and Development) measures professionalism is through their code of conduct which can be broken down into 4 sections as shown below: Professional Competence and Behaviour Ethical Standards and Integrity Representative of the Profession Stewardship. These codes of conduct apply to everyone who is registered with the CIPD regardless of size, sector, Continue reading
The Concept of Career Planning – Definition, Objectives and Process
Career is viewed as a bunch or collection of jobs or positions. Generally, it describes an applicable career path within the structure of the organization. Basically, it shows the principal personnel development paths within the organization. The etymology of the term derived from the Latin word career, which means race. All the jobs, that are held together during one’s working life, constitute career. It is also viewed as the sequence of positions held by an individual during the course of his employment life. Edwin B. Flippo defined a career, as a sequence of separate but related work activities that provide continuity, order and meaning in a person’s life. A career may be viewed as amalgamation of the changes in values, attitudes and motivation an individual embrace, as he or she grows older. This constitute subjective element of the concept “career”. Greenhaus and Schein described several themes underlying different definition of Continue reading