The creation of a talent management environment in the 21st century is an important and necessary part of any modern organisations agenda. A shortage of talent, facing an ageing population and a dynamic business environment has all fueled a commitment to a need to focus upon how talent can be attracted and retained within the organisation. To standstill and to be static is a dangerous game and thus firms have to be focused upon adaptability to trigger a sustainable approach through talent. To build a strong, consistent and sustainable talented workforce requires a need to develop employees who can act in the global business environment. 7 Talent Management Best Practices Align Goals and Track Everyone’s Progress: Make sure that every employee’s goals are aligned with organizational goals and also regularly monitor progress on goals so that corrective actions can be taken as required. Finally there is need to be able Continue reading
Modern HRM
Strategic Recruitment
Recruitment is a key HRM activity. Organizations to survive and grow need to attract candidates who are qualified to help them achieve their objectives. Effective recruitment does this by locating and attracting potential candidates to job openings within the organization. Such applicants form a pool from which candidates who most closely meet the job specifications can be offered employment. Recruitment begins with the identification of human resource requirements and ends with the receipt of an application. It immediately precedes the selection process and involves attracting qualified and interested candidates from either inside or outside the organization. It is a two way process. Information is given and received by the applicants and the organization. Recruitment is concerned with both meeting the organizations HR requirements and in helping potential candidates decide whether they meet the job requirements, are interested in the position and want to join the organization. Unfortunately, many Continue reading
Workplace Flexibility and Work-Life Balance
In the modern highly volatile business environment, organizations go through a tough time keeping up with the market forces due to the severity of the competition they face. This makes the customer search for the best quality and value for their money. Therefore organizations formulate strategies and these strategies are then transformed into quantitative objectives and are broken down to each employee in the organization in order that they can carry out their part in it. This creates pressure in the minds of the managers and their employees. The managers persuade the employees and get the tasks done one way or the other. This increasingly demanding workplace complexity is what causes work-life balance issues. In other words, employees find it rather difficult to balance the work with their own personal lives. Is Workplace Flexibility the ‘Solution’ to Work-Life Balance Problems? In the context of human resource management, workplace flexibility refers Continue reading
Stress – Causes, Challenges and Prevention Measures
Stress is a natural reaction generated within the body of a person to tackle a particular situation or event with focus, toughness and strength. The stress allows people to find out the unknown and hidden areas within them to face a situation. The stress mainly happens in two steps. One is the external stimulus referred to as the stressor that arises in an environment and the second is the response generated by the body to tackle that particular external stimulus. Stress could be basically categorised into different types. Eustress is the term that was coined to explain positive gains due to stress whereas distress is the stress that causes painfulness and negative fall backs. Hyper stress is the overreaction of a body due to the difficulties of worry or trauma and hypo stress is the under reaction or instability of a body due to an external circumstance. Chronic stress on Continue reading
Human Resource Accounting
To ensure growth and development of any organization, the efficiency of people must be augmented in the right perspective. Without human resources, the other resources cannot be operationally effective. The success or otherwise of an organization depends on how best the scarce physical resources are utilized by the human resource. What is important here is that the physical resources are being activated by the human resources as the physical resources cannot act on their own. Therefore, the efficient and effective utilization of inanimate resources depends largely on the quality, caliber, skills, perception and character of the people, that is, the human resources working in it. The term Human resource at macro level indicates the sum of all the components such as skills, creative abilities, innovative thinking, intuition, imagination, knowledge and experience possessed by all the people. “Human Resource Accounting” is the offshoot of various research studies conducted in the areas Continue reading
Human Resource Cost Analysis
Human resource cost analysis is the study of behavior of cost in relation to one or more HR criteria. Controlling manpower costs has now become important for organizations, particularly when we are required to look within for cost savings to sustain organizational growth and profitability. To enforce control on HR costs, it is essential to develop a check-list at the outset. This requires grouping of activities under different cost heads and then Identifying the individual cost elements under each head. By developing an HR costs spreadsheet, we can understand the magnitude of HR costs in an organization. Element-wise cost trend over the years facilitates regular monitoring and operational control. At the macro-level, net value added per employee is an indicator of cost efficiency. Developing an HR Costs Checklist HR costs checklist varies from organization to organization due to obvious differences in their practices. Here we have mentioned about those cost Continue reading