...IN UNITED KINGDOM............................................................................................................6 6SALARY IN GERMANY..........................................................................................................................8 7SALARY IN POLAND.............................................................................................................................8 8CONCLUSION.........................................................................................................................................8 BIBLIOGRAPHY.......................................................................................................................................8 Analysis 2 Introduction Compensation of employee is important and at the same time really difficult task. Important because it can contribute to growth efficiency and competitiveness in company. Difficult, because it arouses the most controversy and discontent of workers. An effective system of remuneration of employees enables to achieve the following tasks: - recruit and retain...
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...MANAGEMENT 1. Explain the concept of human resources management and discuss the role of human resources management function in an organisation. According to Bratton and Gold (1999:11) Human resources management is described as the process that specialises in the management of people in work organisations. Human resources management emphasis that employees are critical in achieving sustainable competitive advantage, that human resources practices need to be integrated with the corporate strategy. Human resources specialist helps organisational controllers to meet both the efficiency and equity strategic objective. Human resources management seeks to achieve two sets of objectives which are to improve employee’s performance and enhance organisational efficiency. The major role of human resources management in an organisation is the hiring and firing of employees which involves attracting the best employees on the market, keeping them in their positions and ensuring that they perform according to the organisational expectation and enhance overall strategic goals of the organisation. Recruitment of employees is the major role performed by the human resources department. This ensures that the organisation selects the most skilful and competent people. This role involves evaluation of the ability and competence of potential employees in relation to the goal of the organisation. Human resources Management is an approach to management of people based on four principles...
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...Understanding Organisations and the Role of Human Resources 2.2 Human Resources are the most vital resource for any organization. It is responsible for each and every decision taken, each and every work done and each and every result. Employees should be managed properly and motivated by providing best of their abilities as per the industry standards. There are many activities in HR that the employee’s working in the HR department needs to partake in to support an organisation. Below are three that I have decided to focus on Recruitment and selection: When it comes to recruiting for an organisation, an HR employee has a lot to get involved in. They are the ones that arrange, or provide assistance in posting vacancies, developing and implementing recruitment strategies, identifying and selecting candidates, assuring all pre-employment requirements are met, and confirming job offers. Advertising the job role is something an HR employee has to do. They can advertise job roles in many different ways such as internal emails. Most companies start out emailing internal employees about current job vacancies incase another employee would like to apply for the role or a friend or family member would. This is cost effective as no money is spent on advertising publicly; therefore if they are working within a budget, this is a good way to save money. Advertising publicly can become an expense. If an HR employee does choose to advertise publicly such as in the local paper, then they...
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...you should be able to: l l understand the meaning and concept of human resource management; and explain the functions of HR, and responsibilities and new roles of HR practitioners. Structure 2.1 2.2 2.3 2.4 2.5 2.6 2.7 Introduction Concept of HRM Objectives of HRM Human Resource Functions Summary Self Assessment Questions Further Readings 2.1 INTRODUCTION Human resource management (HRM) is an approach to the management of people, based on four fundamental principles. First, human resources are the most important assets an organisation has and their effective management is the key to its success. Second, this success is most likely to be achieved if the personnel policies and procedures of the enterprise are closely linked with, and make a major contribution to, the achievement of corporate objectives and strategic plans. Third, the corporate culture and the values, organisational climate and managerial behaviour that emanate from that culture will exert a major influence on the achievement of excellence. This culture must, therefore, be managed which means that organisational values may need to be changed or reinforced, and that continuous effort, starting from the top, will be required to get them accepted and acted upon. Finally, HRM is concerned with integration - getting all the members of the organisation involved and working together with a sense of common purpose. 2.2 CONCEPT OF HRM HRM is a strategic approach to the acquisition, motivation, development and...
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...Compensation and Reward Management UNIT 17 COMPENSATION STRATEGY, STRUCTURE, COMPOSITION Objectives After reading this unit, you should be able to: l appreciate compensation function and objectives; l analyse compensation issues and trends; l assess the characteristics of executive compensation and its determinants; l understand the principles and practices of compensation administration; and l identify the major components of wage structure in India. Structure 17.1 Introduction 17.2 Compensation Issues 17.3 Compensation Function 17.4 Compensation Policies and Objectives 17.5 Compensation Administration 17.6 Compensation Determinants 17.7 Compensation Survey 17.8 Compensation Structure 17.9 Job Evaluation System 17.10 Pay Equity 17.11 Executive Compensation 17.12 Compensation Trends 17.13 Wage Structure in India 17.14 Case Study 17.15 Summary 17.16 Self-Assessment Questions 17.17 Further Readings 17.1 22 INTRODUCTION One of the most difficult functions of human resource management is that of determining the rates of monetary compensation. It is not only complex, but significant both to the organisation and employees. Employee compensation decisions are crucial for the success of an organisation. From a cost perspective alone, effective management of employee compensation is critical because of the total operating costs. Another...
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...performance. More studies will be done on actual companies or organisation, journals and articles to support the report. However, there will be some limitations on the policies discussed that might not work on certain employees. 2. Introduction Human Resource Management (HRM) is the use of policies, practices and systems that influence employees’ behaviour, attitudes and performance (De Cieri et al., 2008) and individuals are being utilised to achieve organisation’s objectives (Mondy and Noe, 2005). By recognising people are a firm’s most valuable asset in running a business, Human Resource (HR) department has the responsibility to manage the wellbeing of all employees in order to retain and develop existing employees in achieving organisation’s business objectives (Stone, 2005). HR division also serve as a middle person between top management and lower level management. Therefore, HR department is an important channel for upward and downward communication between employees and management. It is a channel for employees to voice their grievances and complains thus minimizing any dissatisfaction in workplace that may lead to turnover (Osman et al., 2011). Once people resources is identified as firm’s most important asset, the next question here is how the right HR Policies can help in achieving desired retention and development of employees in long run. HR policies may include attractive package of compensation and benefits, ongoing training and...
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...| Compensation Does one size fit all? Compensation Does one size fit all? Due date: 6 November 2013 Leadership & People: Tutor: XXX Prepared by: Stephanie Gartrell Student ID: XXX Due date: 6 November 2013 Leadership & People: Tutor: XXX Prepared by: Stephanie Gartrell Student ID: XXX Executive Summary Designing and implementing a compensation package that rewards all staff according to performance, and succeeds in appealing to their individual motivations is an enormous challenge for any organisation. Some find it easier to simply pay a percentage increase to all staff, irrespective of their performance. A literature review was undertaken to determine both the current and historical views of performance management. A vast amount of material has been written in journal articles and textbooks. All point to the complexity of the issue and the apparent inability to find a solution that will suit all. For the last 100 years, HR specialists, psychologists and economists have been collaborating to try and develop a system which would have broad appeal for both staff and employers. Many theorists contributed to the discussions, asserting that individual motivations for pay were based on the theory of agency, goal, control, expectancy, or reinforcement. Performance management systems are necessary to enable companies to enable them to attract, retain and...
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...Only you can lead yourself to where you want to go!!! By Ravi Subramanian, Author, 'The Incredible Banker ' It was sometime in 2001 that I got promoted from assistant VP to vice president . At that time, I was managing the mortgage business in North India for a leading foreign bank. Even after my promotion, I continued doing the same role - only the title changed. All my earlier promotions had come with a change in my role and responsibilities. One of my seniors, who is still with the bank, on one of his visits to Delhi, took me out for dinner to celebrate my move from AVP to VP. Vice presidents were a rare breed those days, so becoming one did call for a celebration. I took the opportunity and decided to voice my concern. "What next? Does the organisation have a plan for me?" "As in?" "Now that I have been promoted, will I continue doing the mortgage role for another two years or is there any plan to move me to some other role?" He smiled. I guess my anxiety was obvious . "Do you know Ravi, who all love you?" I had a blank reaction to this question . "Remember" , he continued, "Your family and parents are the only ones who love you. They will do things selflessly for you. Not only that, they will always have your best interests in mind. Everyone else will only do what suits them." "But what's the relevance?" I was a bit confused. "If you think anyone is managing your career for you, you are mistaken. Others will only do what fits in their scheme of things and not necessarily...
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...HRM313e Total Reward Design and Management Group-based Assignment (July 2015 Presentation) HRM313e Group-based Assignment GROUP-BASED ASSIGNMENT This group-based assignment is worth 30% of the final mark for HRM313e Total Reward Design and Management. The cut-off date for this assignment is 30 August 2015 (Sunday), 2359hrs. This is a group assignment. You should form a group of maximum 4 members from your seminar group. Each group is required to upload a single report through Turnitin via MyUniSIM. Each group should nominate one leader, who will submit the assignment on behalf of the group. Please inform the various group members after the case study has been submitted. The group leader is advised to keep the acknowledgement receipt of submission as evidence that the assignment has been submitted. In this group-based assignment, you will be assessed on your knowledge of seminars one to six. There are three questions. All questions must be answered. Link each answer to the facts given in the above notes, situation, excerpts. Please note that as undergraduates you must prove that you are able to apply the appropriate theories to the facts that you are given and answer the questions accordingly. This means that you must refer to the appropriate theories in the body of your answers. Therefore you must also include an in-text reference (Author, Date, and Page) to acknowledge each outside source used and to provide a complete citation in your Reference...
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...Environment HRMT20022 Over the last few decades the number of expatriates is increasing worldwide. These men and women represent a very important asset for organisations which are developing new business across the world. These expatriates are generally sending abroad to develop strategies or resolve problems in the host country. Consequently, the organisation has to be informed of any issue that expatriates might face and affect the work abroad in terms of international human resource management (IHRM) and industrial relations (IR) issues. Deb (2009) define IHRM as ‘a strategic process of managing a global and diverse pool of talented people in such a way as to achieve aims and objectives of the organisation both at parent and subsidiary level successfully, follow ethical practices on human and business issues and be adaptable to local cultural norms and other human needs and aspirations’. And Dowling, Festing and Engle (2013, p.242) define IR as ‘The board field of study that looks at wider issues of work and employment’. The purposes of this essay are to identify and discuss the IR and HRM issues an expatriate from Melbourne could face while living and working in London. In relation to Industrial relations issues, the role of unions, employment contracts, regulations, visas, taxation, labour laws and employ compensations will be discussed. When it comes to human resource management, the essay will discuss culture, language, family, soft skills, allocation, medical secures...
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...organisational commitments. It should be noted that talent management should be an integrated process. This integration would ensure that an organization has a continuous supply of highly productive individuals doing the right job, at the right time and towards a common purpose. The goal of the talent management process is to increase the overall workforce productivity through improved attraction, retention, and utilization of talent. The talent management strategy is superior not just because it focuses on productivity, but also because it is forward looking and proactive, which means that the organization is continuously seeking out talent and opportunities to better utilize that talent [Rice, A (2010)] to meet growing consumer demands. Many organisations place talent management as one of their key priorities primarily because they recognise that an effective talent management and developmental strategy can aid significantly in gaining a considerable competitive advantage. City lodge’s talent management strategy...
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...will be shown to be of limited application contingent on the context they are being applied to. Symbolic egalitarianism is a conscious strategic decision within the organisation to remove symbols of hierarchy and the differential valuing of employees. This can include decisions such as moving managers from their offices to open plan areas, reducing or removing tiers of titular status, or status symbols attached to seniority or role. Pfeffer argues symbolic egalitarianism signals equality and improves communications, it “diminishes ‘us’ versus ‘them’ thinking” [ (Pfeffer, 2005, p. 101) ] which he believes creates a more collaborative environment with better information flow and cooperation due to the hierarchical barriers between employees and managers being removed. Organisations make a strategic choice in their remuneration and reward programs to enforce either hierarchical or egalitarian culture. Egalitarian systems allow earnings to increase without employees having to move up to more senior roles. This allows for a more flexible workforce that can be moved across jobs without moving up tiers, allowing for greater responsiveness to “new areas, projects or positions” [ (Gomez-Mejia & Balkin, 1992, p. 46) ]. This system can, however, lessen the longevity of the employment relationship. Organisations with a more mature and stable place in their market...
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...| | Even though many of the employees are happy with the current workplace, everyone has certain regrets with the current job. The modern society also offers unlimited opportunities for those who seek out. I try to map some of the common regrets that are faced by the employees in their mid-20s working in corporate environment and how it has affected their attitude towards work. | Introduction The research tries to map the commonly found regrets among the working class in their workplace, the reason for the regret and the implications of that. A lot of research has been done in the Organisation Behaviour to identify the job regrets and their causes and results. Some of the common theories are examined against the findings from 10 of the volunteers. The answers will help in understanding the validity of the theories which were designed before the information age. Examination of such old theories raises questions about their fit in the current organisational context, new-age employees and their changed attitudes towards workplaces. Research Methodology Regret mapping was done for 10 volunteers in the age group of 24-26 working in a corporate setup. Before taking the interview, they were told about the purpose of the interview. They were also assured about the confidentiality of their responses. Though nobody declined to record the interview, 3 of them reconfirmed about the confidentiality. 2 of the respondents were told in detail about their input earlier and were...
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...MASTER IN BUSINESS ADMINISTRATION ------------------------------------------------- (GENERAL MANAGEMENT) ------------------------------------------------- ------------------------------------------------- MGT6033: COMPENSATION & BENEFITS MANAGEMENT ------------------------------------------------- ------------------------------------------------- COURSEWORK / ASSIGNMENT I ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- Prepared By: Lim Chee Seong (IC: 661007-08-6109) ------------------------------------------------- (Student ID: PACE 024747) ------------------------------------------------- ------------------------------------------------- Lecturer: Dr. Perema Kumari S Ponnampalam ------------------------------------------------- ------------------------------------------------- a) Compensation management as one of the important link to the human resource management, has greatly...
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...will ensure that it is achieved” (Armstrong & Baron, 2014). Performance management should be implemented as a strategy which can relate to all aspects of the organisation and it should run in parallel to the organisations HR policies, culture, style and communication infrastructure; hence why it will vary from business to business. When managing performance it should be taken into account that it can often be a complicated notion, and sometimes difficult to measure. Campbell 1990 suggested that performance is the outcome of three determinants: 1. Declarative knowledge 2. Procedural knowledge and skills 3. Motivation Therefore then assessing and rewarding performance a number of different factors will have to be taken into account including both outputs (results – i.e. turnover figures etc.) and inputs (behaviours – i.e. motivation). Effective performance management will ensure that employees working for the organisation will be aware of what the business aims to achieve and their role in helping them achieve these goals. It should also let them know what skills and competencies are required from them to fulfil their role. In turn performance management should further develop individual performance, and highlight areas, which need development to contribute to the overall performance of the organisation. If performance management is carried out effectively employees will be more engaged and therefore more likely to be performing to...
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