Compensation is a key element in the success of any business. Although compensation plans were not always seen as a strategic business initiative, their huge impact on a company’s bottom line, recruiting, retaining and motivating people has led to compensation design being considered an important element to achieving success. Compensation and Business Strategies Alignment It is essential that a fair, competitive and attractive compensation plan is created in order to ensure the future success of the company. If the compensation plan is carried out properly it can improve organisational effectiveness, support human capital requirements of a business, and motivate and reward achievement of key corporate strategic and financial goals. It is thus essential that compensation plans are well thought out and effectively designed. Compensation is the answer to attracting, retaining and motivating employees who have the necessary competencies to carry out the business strategy and handle greater responsibilities. Managers must Continue reading
Modern HRM
Case Study: Disney’s Cultural Lessons From Tokyo and Paris
Disney is a worldwide famous cartoon company that was set up by Walter Disney in 1923 in the United States. It has built up the first theme park in California in 1953, which named “Dream World”, it was a big success for the company. Then in Florida, Paris, Tokyo, Hongkong and other places, Disney theme parks have been set up and welcomed by both the young and the adult. So far, it has about 60-year experience of operating multi-nationally. Although Disneyland is not the pioneer of theme parks, Disney creates a lot of colorful animation and cartoon figures which appeal to a lot of people to come and enjoy their lives in the theme parks. According to this, Disney especially Disneyland acquires much more success in the commercial world, for visitors brought great wealth and spread its culture abroad to every corner of this modern world. Successful Cross-cultural Management of Continue reading
Non Traditional HR Approaches: Investment in Disabled Employees
Before we move on to the core of the issue, we must define what disability or being disabled means “Someone who is disabled has an illness, injury or condition that tends to restrict the way they live their life, especially by making it difficult for them to move about.” Thus, the employee, who is working for the organization, will be termed disabled if he/she is suffering from an injury or illness which affects or restricts them from performing their job effectively. There can be two types of disabled employees 1. Disabled – while employed: i.e. the person was fit and sound during the start of employment relationship, however, during the tenure of his/her service he turned disable, which can be either: On-the-job: This is during the work hours while working at premises. Off-the-job: This is not at work premises, but surely after the start of employment relationship. 2. Disabled – Continue reading
Models of Organizational Behaviour
The effect of an effective organizational behavior system is to produce motivation. Such motivation builds two way relationships. It means that management and employees are jointly benefited without manipulation of one party by the other. Each type of employee is in need of a particular climate. In order to build up a sound climate, executives must understand their people in the organization. The significant factor is that what motivates job performance in general and in building an overall climate conducive to motivation. The individual differences suggest that there can’t be any all purpose organizational climate. The following are the five models of organizational behaviour based on which the organizational climate ought to be fixed. Important Models of Organizational Behaviour 1. Autocratic Model Deep rooted in history, this model claims ‘power’ as its managerial orientation. The people who are in command must have the power to demand. Authority is the only Continue reading
Strategic Human Resource Management Process
Human resource management (HRM) is that part of management process which makes, enhances, manages and develops the human element of the enterprise measuring their resourcefulness in terms of talents, abilities, total skills, creative, knowledge, and potentialities for effectively contributing to the organizational objectives. Human resources are precious and a source of competitive advantage. Human resources may be tapped most effective by mutually standard policies which promote promise and foster an inclination in employees to act flexibly in the interests of the adaptive organization’s pursuit of excellence. Human resource policies can be joined with planned business and used to reinforce appropriate culture. Human resources play a critical role in enabling the organization to effectively deal with the external environment challenges. The human resource management has been accepted as a strategic partner in the formulation of organization’s strategies and in the implementation of such strategies through human resource planning, employment, training, appraisal Continue reading
Ethical Issues in Human Resource Management
Business ethics are the moral doctrines that direct the way to business behave. Business ethics determines the actions of every individual that distinguish the right or wrong. Every business organization must develop the codes of conduct and ethics that should be followed by all the members. Ethics can be taken as the crucial way to self-presentation and public perception of the organization. Ethics in human resource management is related to the employee’s issues. Human resource management plays an important role in setting up and implementing ethics in the workplace. Implementation of ethics in the workplace has been one of the challenging tasks for the organization. Various human resources issues can be handled properly by the application of ethics and code of practices by the managers in the workplace. Ethics generally determine what is right and what is wrong. With the help of business ethics, proper allocation and maintenance of employee Continue reading