HRM Functions

Human Resource Strategy – Meaning, Objectives and Charactristics

Concept and Meaning of Human Resource Strategy

The word ‘strategy‘ can be understood as a long range direction and scope of an organization. It provides a framework to achieve organizational goals and objectives. It develops a grand plan about how the company is going to achieve the desired result and how to compete with other rival firms. It also focuses on how the resources are employed effectively an efficiently.

In the light of it, Human resource strategy can be defined as a process which helps management anticipate and manage the rapidly increasing changes. It is concerned with long range direction and scope of HR activities in the organization.… Read the rest

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What are the Different Types of Employee Contracts?

A contract of employment is essentially an agreement between the employer and the employee. It should have the purpose of outlining the specific terms and conditions of employment.  This can be either verbal or in writing and it can be regarded as forming the basis of the employment relationship between employer and employee.

The implications of different types of employment contracts can mean that there are different outcomes or considerations for the employer, depending on the type of contract. A full-time contract involves a set amount of working hours and terms and conditions including the minimum hours set by the employer, which is normally 35 hours or more a week.… Read the rest

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Impact of Motivation on Employee Behavior and Performance

One of the most challenging aspects of human resource management is employee motivation. It manifests itself through employee morale, output, absenteeism, effort, labor turnover, loyalty and achievement. Motivation is generally defined as an internal state that induces an employee to engage in particular behaviors, or a set of factors that cause employees to behave in certain ways, but it is extremely complex. This is because employee motivation is the product of many interacting factors such as the culture of the organization, management’s leadership style, the structure of the organization, job design and HR policies and practices. The employee’s personality, skills, knowledge, abilities and attitudes also play a part.… Read the rest

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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.… Read the rest

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Employee Turnover – Meaning, Causes and Effects

In today’s highly dynamic commercial work, it is becoming a challenge for job-seekers to find jobs that best fit their personality, and for employers to hire the right people who can do the job and also integrate well into the company culture. Failure to overcome this issue can be resulted in high turnover of employees. Employee turnover is a part of normal business activity; whereby employees come and go as their life situations change. Most employers realize this and, indeed, large firms typically have entire departments devoted to the management of human resources in order to make the transition as easy as possible for both management and employee and to minimize the associated hiring and training costs.… Read the rest

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Types of Motivation Theories

Motivation is defined as a general term for any part of the hypothetical psychological process which involves the experiencing of needs and drives and the behavior that leads to the goal which satisfies them. In essence, the motivational theories provide explanations as to why people behave the way they do.  These diverse motivation theories helped identify and determine the myriad of factors that drive people to behave in particular ways. There are numerous motivation theories with more than one may of grouping or classifying them. However, the most common one is to classify them according to four general types, namely: need theory; expectancy theory; equity theory; and goal setting theory.… Read the rest

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