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
Human Resource Management Basics
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
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
Strategies to Reduce Employee Turnover
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
Employee Involvement – Meaning and Importance
Employees, the strongest pillar of the organization are the most valuable asset that contributes significantly to its success and prosperity. The involvement of employees in the organizational operation not only motivates them but also enables them to contribute more effectively and efficiently. Further, employee involvement as a process involving participation, communication, decision making which leads to industrial democracy and employee motivation. Employee involvement is defined as a commitment of the employees towards the values of the organization and willingness to help each other to achieve the organizational goal. The results are not only to increase job satisfaction, or motivation but the increasing performance of that organization. In short, employee involvement is creating an environment where people have a continuous impact on decisions and actions that affect their jobs. Employee Involvement vs Employee Participation Employee involvement and employee participation are like two sides of a coin. Both are supplementary to Continue reading