Rewarding performance is the element of the performance management process which seeks to give employees some kind of return for achieving their targets. This is wider than just financial recompense and includes such things as praise, greater opportunities for training and development, and promotion. Very often one of the things most sought by an employee is the recognition that he or she is doing a good job and where, for example, this is expressed in terms of bonus it is very often the recognition rather than the cash that really matters. It is only when money enters the equation that rewarding performance become very tricky and the emphasis her is therefore on the financial aspects.… Read the rest
Human Resource Strategies
Employee Resourcing – Meaning, Objectives and Applications
In the conduct of performance of any business, it has often been regarded that the employees constitute the most important part of the organization. The employees are the backbone and foundation of the business because they make its operation possible. They are part of every success story, as well as the unfortunate failure of the organizations. Employees are the most valuable asset of the business. Overtime, the proper management of the company’s workforce has been called upon by concerned groups and even by the management itself. Various programs and practices have been designed and geared towards improving them and developing their skills so that they can be better assets in the operation of the organization.… Read the rest
Industrial Disputes – Meaning, Prevention and Settlement
Industrial disputes are organised protests against existing terms of employment or conditions of work. According to the Industrial Dispute Act, 1947, an Industrial dispute means “Any dispute or difference between employer and employer or between employer and workmen or between workmen and workmen, which is connected with the employment or non-employment or terms of employment or with the conditions of labor of any person”
In practice, Industrial dispute mainly refers to the strife between employers and their employees. An Industrial dispute is not a personal dispute of any one person. It generally affects a large number of workers’ community having common interests.… Read the rest
Team: Definition and Important Types
Definition of Team
A team is defined as a group of people working together to achieve common objectives or goals. Teamwork is the cumulative actions of the team during which each member of the team subordinates his individual interests and opinions to fulfill the objectives or goals of the group. The objective or goal is a need to accomplish something, such as solve a problem and improve a process.
Members of a team will need to focus on how they relate to each other, listen to the suggestions of others, build on previous information and use conflict creatively. They will need to set standards, maintain discipline, build team spirit and motivate each other.… Read the rest
Case Study: Analysis of Performance Management at British Petroleum
British Petroleum (BP plc) is a multinational oil company headquartered in London, United Kingdom. They’re the third largest oil company in the world, and the fourth largest company worldwide measured by revenues. Employing over 78,000 workers around the world, BP’s Human Resources play a very important role in the company achieving success. BP recognized this and in 2010, BP’s executive team agreed a high-level philosophy covering their required practices of performance management as well as a set of guiding principles for rewards, in order to monitor performance and best motivate employees to reach objectives. In hope of achieving individual success as well as team success.… Read the rest
Internal and External Factors Influencing Recruitment
Recruitment is one of the important tasks which human resources management department has to perform very carefully. They have to understand the need of the vacant position. They have to know what should be the qualification of the candidate for the required position. They have to also look after that what is the age range of the candidate because in several cases some position needs to be more that twenty five years, thirty five years and so on. There are certain reasons of age barrier, for example many company have some different kind of sales positions required. For those positions, company want to have young and enthusiastic candidate, so they prefer that if the position is for sales associate, where the person have to travel a lot, they should be not more than an age of thirty years.… Read the rest