Human Resource Management and steps
Over the past decades, Human Resource management has gained recognition as a vital player in corporate strategy. Research done has found that effective Human Resource management has a positive impact on strategic performance leading to enhance productivity level and also financial performance of an organization.
As a result organizations today are moving their HR departments from paper based time consuming environment and considering the department as playing a major role in staffing, training and helping to manage people to enable them to perform at their maximum capability in a highly fulfilling manner.
It is important that an organization is committed to creating a healthy, safety and fulfilling work environment in which people can grow, individuals can make a difference and teams can win.
company should also aim to attract, recruit & develop talented people, providing the skills & resources to succeed across the markets. Employees should be rewarded with competitive incentives to encourage them to achieve their potential within the company.
All employees of a company have to adhere to the same code of conduct implemented by the company. This ensures to maximization of profitable business opportunities, avoid or reduce risks which can cause loss or reputational damage, ensure compliance with applicable laws and regulations, and enhance resilience to external events.
Each company should intent to make the company “a great place to work”.
The remuneration polices should support and drive business strategy and reinforce the values of the company. Also it is one element which helps an organization to attract new talent or even to retain existing skillful staff.
Business world has become more and more advanced and employees today are more and more demanding. Unlike in the past employees cannot be satisfied only with an attractive remuneration package.
Therefore most of the companies today use Herzberg’s two factor theory where management not only must provide hygiene factors to avoid employee dissatisfaction, but also must factors intrinsic to the work itself for employees to be satisfied with their jobs.
However it is vital that this policy is reviewed regularly and changes are made when required and also proper monitoring takes place to ensure that the policy is well implemented around the company.