Reward management in a business organisation is basically the way in which that particular business forms and implements strategies and policies to reward the employees to a fair standard and in accordance with how the organisation values them. Reward management in a business organisation usually consists of the business analyzing and controlling the employee’s remuneration and all of the other benefits for the employees. The main aim of reward management in a business organisation is to reward the employees fairly for the work that they have completed. The main reason reward management exists in business organisations is to motivate the employees in that particular organisation to work hard and try their best to achieve the goals which are set outContinue reading
Human Resource Management Basics
Workforce Diversity Management in the Age of Globalization
Within each and every organization, the composition of workforce diversity is being integrated into its human resource management (HRM). In this new era, the world is increasingly globalizing and since the advent of information technology, the borders of the world are drawn so closely than ever before. Theories of diversity management have been developed by business professionals and scholars, citing that a heterogeneous organization could create better HRM practices to maximize the benefits from a diverse workforce as well as improving their competitive advantages. Maslow’s Hierarchy of Needs will help to understand how employees’ basic need affects the HRM; and how workforce diversity could contribute to achieving HRM’s strategic objectives. Diversity awareness allows for a better understanding of inclusive consumers’Continue reading
Theories of Motivation
Motivation is the creation of stimuli, incentives, and working environments which enable people to perform to the best of their ability in pursuit of organisational success. It is commonly viewed as the magic drives that enable managers to get others to achieve their targets. Since the dawn of the twentieth century, there has been a shift at least in theory. Many management theorists have provided insights into motivation. Motivation can have an effect on the output of any company or organisation. Organisations and companies relies heavily on the efficiency of it production staff to make sure that products are manufactured in numbers that meet demand of customers. If these employees lack the motivation to produce and perform to the bestContinue reading
Business Ethics 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. Business 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 andContinue reading
The Strategic Role of Human Resource Management
Human resource development is the process of assisting employees in a certain organization to improve their personal and organizational skills, their abilities, and use of knowledge. This includes helping them through taking them for training, career development courses, organizational and performance management. The main aim of human resource development is to develop an advanced workforce that will enable the organization to achieve its goals and offer the best to its customers. Human resource development can be done from within the organization or from outside the organization. It can also be done formally such as a planned organizational change, offering classroom training to employees or taking them through a certain college course, or informally where a manager may decide to coachContinue reading
Wage Differentials – Definition, Causes and Types
Wage differentials have a great economic and social significance; they are directly related to the allocation of the economic resources of a country, including manpower growth of the national income, and the pace of economic development. Social welfare activity depends, in a large measure, on such wage differentials as will: Cause labor to be allocated among different occupations, industries and, geographical areas in the economy in such a manner as to maximize the national product. Enable full employment of the resources of the economy to be attained; and Facilitate the most desirable rate of economic progress. Wage differentials reflect difference in the physical and mental abilities of workers, differences in productivity, in the efficiency of management and in consumer preferences,Continue reading