Reward is an important part of managing organization and the management of employees. It can be defined as an organization is ready to pay for to accomplish its strategic objectives. Therefore the review of reward system starts from understanding of organizational strategy and HR strategy supports this. Strategic reward objectives should be aligned with business objectives in the same way as other key business areas such as finance, marketing, administrating and IT. In the broad way, there are two ways of reward such as tangible and intangible. The definition of these two rewards are in a way ambiguous as it could vary according to the viewers’ standpoints, but most of rewards can be classified as the tangible, which includes competitive salary, promotion, good benefits, incentive, better working environment, recognition awards and all other fringe benefits for higher performance. Whereas, intangible rewards is none monetary reward for high performance, not always Continue reading
Modern HRM
Important Soft Skills for Workplace Success
Soft skills are essentially people skills – the non-technical, intangible, personality-specific skills that determine one’s strengths as a leader, speaker, listener, negotiator, and conflict mediator. It means skills related to human attitude, team work, leadership qualities, over all human nature enhancements. Soft skills thus is a sociological term relating to a person’s “EQ” (Emotional Intelligence Quotient), the cluster of personality traits, social graces, communication, language, personal habits, friendliness, and optimism that characterize relationships with other people. They are, in many instances, complementary, and serve to unlock the potential for highly effective performance in people qualified with the requisite hard skills. In broader terms soft skills is a range of abilities including work ethics, courtesy, teamwork, self-discipline and self-confidence, professional presence, language proficiency, cultural sensitivity, communication skills, ability to accept and learn from criticism, ability to handle client relationships, networking, creativity, ability to motivate yourself and lead others, time management, leadership Continue reading
Challenges of Strategic Human Resource Management
Strategic Human Resource Management (SHRM) can be defined as a link between human resources and the strategic goals and objectives of the business. Most importantly, the aim of that is to improve business performance and to develop an organizational culture that will foster innovation, flexibility and competitive advantage. In other words, the HR function is seen as a strategic partner helping the company to implement and formulate strategies as well as reach its goals and flourish. The main activities of HR department include selecting and recruiting the right people for the job roles, training and rewarding them. Very often SHRM is being confused with HRM. SHRM has more of a long-term orientation towards objectives. It doesn’t focus on internal human resource issues; the attention is focused more on addressing and solving problems that have an effect on management programs in a long run. In other words, SHRM focuses on occurring Continue reading
Achieving Competitive Advantage through Human Resource Development
Human resource development is defined as the framework for helping employees develops their personal and organizational skills, knowledge and abilities. Human resource development involves using a range of learning and training techniques and strategies to change the work related behavior and attitudes of an employee and it also engages in performance management in other to ensure that people can do things well or do new and better things. Human resource development is concerned with enhancing organizational performance through effective development and deployment of organizational members. To enhance performance, a human resource developer has to ensure that the individuals in the organization has the knowledge, expertise and the right attitudes to execute their work, also human resource development aims at ensuring that the organization has the skilled, committed and well-motivated employee it needs to sustain competitive advantage by focusing on processes that develop skills, knowledge and the attitude of the employee, Continue reading
Factors Influencing International Compensation
Recently, the dilemma between sector and cultural predictors of compensation policies has become a public concern, and is extremely important in the background of internationalization. Even some well-known cultural traditions at working styles of many countries, examples like the Industry Wide Bargaining of Germany, the Lifetime Employment of Japan and the Wide-range Social Safety Net of France, now are facing the threats of being damaged owing to the big pressures from economic globalization. As a result, multinational employers are facing unprecedented challenges when choosing a job due to the pressures of economic globalization and market economy. The growth of global economy plays a major role in general business, especially in the areas of human resource management. It has been at the agenda of company leaders to chase the qualification of global mind-sets by which they used to meet the challenges brought by the trend of globalization of economy and create Continue reading
Impact of Workplace Wellness Programs in Modern Business Organizations
The modern workplace is constantly evolving, and employers are increasingly looking for ways to improve the health and wellbeing of their employees. Corporate wellness programs are one of the most popular strategies for achieving this goal. This essay will explore the impact of corporate wellness programs on employee engagement, productivity, and overall health. It will also discuss the challenges associated with implementing such programs in the workplace. By examining the evidence, this article will provide insight into how corporate wellness programs can be used to create a healthier and more productive work environment. Definition of Corporate Wellness Programs Corporate wellness programs are initiatives designed to promote healthy lifestyles among employees in the workplace. These programs typically include activities such as health assessments, nutrition education, physical activity classes, stress management workshops, and mental health support. The goal of corporate wellness programs is to create a healthier and more productive work environment Continue reading