1: Discuss an example of a compensation and motivation practice and evaluate how it relates to the organization's strategy.
2: Critique a best practice in a compensation and motivation program.
3: Find an article, and state the best practice in HR management. Offer your citation.
4: Find a second article, and state the best practice in HR Management. Offer your citation.
The response address the queries posted in 1666 words with references.
//Before discussing about any aspect of Human Resource Management; we need to understand it specifically. So, first of all, we will discuss about the performance appraisal, performance management and profit per employee, along with a detailed discussion.//
Determining the performance of employees is becoming a major issue for the human resource department. Therefore, these departments have developed metrics for determining the productivity of employees.
Three selected metrics are:
Performance Appraisal: I have selected this metric because it helps to measure the actual performance of the employee with respect to the desired standards. The development of the metrics should be based on the three key points:
Ø It should have Specific criteria, in order to compare the performance
Ø Proper rating scale, which helps to determine the performance of employees.
Ø Thirdly, there should be appropriate procedure for the determination of the rating.
Thus, performance appraisal is a process of evaluating an employee's performance on the job in terms of its requirements and it can be quantified and measured (Mamoria & Gankar, 2005).
Performance management: It is a continuous process between the employer and the employee to improve the performance and avoid poor performance. It focuses on the following:
Ø The essential job functions.
Ø Employees contribution to the organization's goal.
Ø Performance barriers.
Ø How to perform the job well.
Though this is a significant measure, yet it is not quantifiable and measurable. (Bacal, 2008)
Profit per Employee: It is a conservative output measure, based on accounting conventions. It focuses on talented people who can produce intangible valuables. Through this, the company can easily measure its performance against its competitors. Thus, an employee's performance can easily be measured and quantified through this metric (Bryan, 2007).
//Above we discussed about the three metrics. Now, we will discuss about 'Compensation Practice' and it's relation to Organization' strategy.//
Compensation Practice and it's relation to organization's strategy
Fringe Benefits: They are the additions to the wages or salaries, which motivate the employees to work efficiently. They add to the worker's standard of working or welfare. Following are the types of fringe benefits:
Ø Payment without work, e.g. Sick leave, maternity leave, paid vacations, etc.
Ø Health and safety benefits.
Ø Retirement benefit.
Ø Medical, legal, child care, educational and recreational facilities.
Ø Interest free loans, holiday homes and co-operative stores.
Fringe Benefits are a part of the organizational strategy because they are kept into consideration while framing the strategy and all the expenses related to them are taken into account. Also, they are an effective part of strategy as they are supplementary benefits which retain the present employees and attract new employees (Gupta, 2007). ...
This response addresses the queries posed in 1561 Words, APA References