Developing a Reward Strategy for Your Organization

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 requiring recognition of others in the workplace. Examples are when a sales manager gives the sales person recognition by a “pat on the back, send an appreciation e-mail and usage of bulletin board” to show appreciation for job well done.

In order to implement the reward system the most appropriate way, performance appraisal, evaluation, accomplishment rating should be done the most fair and objective way, but it is sometimes easier said than done. Due to the unfair or unreasonable evaluation, employees get depressed over the total reward system of the organization. In addition, the subjective appraisal is often taking place because of the managers’ personal preference or subjective views on some employees in particular.… Read the rest

New Roles of Human Resource Managers in Business Development

A great team of working professionals in an organization cannot be possible without the human resources. The main contribution of HR management to organizations are hiring and training the workforce, takes care of the performance management system, helps in building culture and values, manages conflict, and most importantly developing good relations. Human resources managers promote, recommend on, and implement plan associated to the usage of employees within an organisation effectively.  They are the most qualified and skilled people into the organisation to make a difference in enhancing the productivity of the employee and the organization. Their desire is to assure that the organisation hires the suitable people in terms of skills and experience, and that training and development opportunities are accessible to personnel to boost their achievement and attain the goals in the organization. HR officers are responsible in a range of activities needed by the organisation such as working ethics, recruitment, salary, terms of employment, external negotiation, and equality and diversity.

Since time immemorial, human resources have played a vital role in managing people and magnifying their full potential. There are key insights to surpass in any inevitable business growth, decline or any dynamic changes in a management.

Business Growth

First, managers should have a clear comprehension of where the organization is headed. In order for HR to anticipate fundamental stages of improvement, transition and deal with necessary shifts, they need to be genuinely familiar with the strategy, values and vision. Secondly, values and goals should be the bedrock of the business.… Read the rest

Role of Human Resource Management in Organizations Difficult Times

Today, Human Resource Management (HRM) is emphasizing on adding value in the organization as a key player. The most significant challenge for organization in difficult time (recession) is transforming of the human resource to recognize, sustain, enlarge and exploit talents in the whole organization to their fullest capacities than organization can claim that it has the best of the systems to identify talents across the organization. The management professionals and employees might undergo through the anxiety and other issues during recession and economic downturn, so organization must make plan for economic crisis.

Roles and functions of HR in the Organizational change

HR can and ought to play a key role in creating and executing organizational change and transition. HR can give help and direction in investigation and determination, highlighting the employee’s problems that will essentially influence the success of the organization. HR might recommend on resourcing programs and planning and executing the key learning, reward, aspects of involvement and communications process. HR can foresee individual’s issues and manage them before they get serious. If the program does include rebuilding and downsizing, HR can recommend on how this ought to be carried out empathetically and with the base interruption to individuals’ live.

When the business is in turbulence zone, HR can put its straight out best in guaranteeing that he directs the corporate effectively. HR needs to be capable in such circumstances in light of the fact that they not just need to keep up the individuals inspiration level however needs to expand it utilizing non-money related apparatuses.… Read the rest

What is E-Recruitment?

Organisations use a variety of recruitment sources to attract applicants like direct applications, employee referrals, newspaper advertising, employment agencies, and executive search firms. Recruiting the right person to the right position is of crucial importance to the performance of every company. At the same time recruitments are expensive, difficult and time-consuming. Web based recruitment tools can be used to publish job postings, administrate applications, including spontaneous applications, and build up a CV Database.

This recruitment strategy includes identification of the right channels with a campaign that effectively summarizes the job requirements, company and community. A simple job posting in a publication or online career center is no longer enough – the employer also needs to market itself as a place the candidate would want to work and its community as a place the candidate would want to live. Companies often adopt online systems because they believe e-recruitment is more likely than traditional recruitment sources to uncover individuals with unique talents and skills. The logic here is that online recruiting systems permit firms to cast a wide net across a broad labor market and, therefore, may be more likely to reach high quality applicants than other sources.

Now job applicants are using online systems to search for jobs and gather information employment opportunities in organisations. Furthermore, e-recruiting may be particularly effective as we are searching for personnel assistant proficient with computer systems. Also, online systems can be used to attract passive job seekers who are currently employed, but are secretly searching for new and better employment opportunities.… Read the rest

The Art of Managing Human Resources in an Organization

Organizations and corporations are multifaceted. Such complexity within a business necessitates the need to strategic approach to the management of the employees, whose task is to enable the business to achieve its objectives. Human capital is an imperative asset of an organization and proper use of a potent assent can construct a successful and resourceful organization. In an organization, human capital can make or break an objective or a strategy. The human resource department is the most important department of an organization. Almost all activities directed at attracting, developing, and maintaining effective workforce are implemented in this department. The functions of human resource management are, but are not limited to, hiring the right candidates, at the right time, and at the right price. It also involves training the existing employees, motivating them to give the best to the organization, resolving conflicts, discipline the employees who violate the organization’s rules and regulation, as well as downsizing of the staff strength. Managing human resource is difficult as the job deals with solely installing the organizational culture into employees and keeping them happy in the work environment. In essence, this can be accomplished in theory, but is quite difficult in practice.

The different aspects of human resource management can be broadly categorized into recruitment and selection, performance management, benefits and compensation, disciplinary and grievances, labor relation, and manpower planning. Recruitment involves the process of advertising job through magazines, newspaper, headhunting, employment agencies, internal sourcing, and organization’s newsletter. The purpose of recruitment is to attract as many candidates as possible, to enable the organization pick the most talented and motivated workers.… Read the rest

Appraising Employee Performance

Need for Appraising Employee Performance in Organizations

There are several reasons to appraise subordinates performance. First, appraisals play, or should play, an integral role in the employer’s performance management process; it does little good to translate the employer’s strategic goals into specific employees’ goals, and then train the employees. Second, the appraisal lets the boss and subordinate develop a plan for correcting any deficiencies the appraisal might have unearthed, and to reinforce the things the subordinate does correctly. Third, appraisals should serve a useful career planning purpose by providing the opportunity to review the employee’s career plans in light of his or her exhibited strengths and weakness. And, last but not least, the appraisal almost always affect the employer’s salary raise and promotional decisions.

In reviewing the appraisal tools we discuss below don’t miss the forest for the trees. It doesn’t matter which tool you use if you’re less than candid when your subordinate is under-performing. Not all managers are devotees of such candor, but some firms like GE are famous for hard-hearted appraisals. GE’s former CEO,  Jack Welch is of the opinion that, for instance, that there’s nothing crueler than telling someone who’s doing a mediocre job that he or she is doing well. Someone who might have had the chance to correct bad behavior or find a more appropriate vocation may instead end up spending years in a dead-end situation, only to leave when a tough boss comes along.

There are many practical motivations for giving soft appraisals: the fear of having to hire and train someone new; the unpleasant reaction of the appraisee; or a company appraisal process that’s not conducive to candor for instance.… Read the rest