Human Resource Management
Total cash compensation refers to total amount in cash an employee earns annually and includes various variable factors like the annual base salary, the annual stipend, auto allowance, education compensation etc. Now, the factor to understand here is that different salary structures have different impacts on employees.
Career planning is in general, defines a model path that your career should take so that your decision in choosing an occupation and organization reaps you the best possible outcome. The most important outlook here is the enhancement in value. Ask yourself this: “If you were hiring for the business you are looking to get into, would you have hired yourself?” If the answer is no, you are going wrong somewhere.
In today’s job market, getting competent people is not an issue. After all, the current total global workforce is producing about 100 times more people every year compared to only a few decades back. The most important factor in today’s job market is retaining the employees. And in this context, employees compensation takes on a new meaning.
career development plans are decisions that you take early to decide what you want to do in life so that a comprehensive roadmap for your whole career is laid out for you, irrespective of the phase you seem to find yourself in. In short, it is a list that you fulfil so that each step leads you to utilise your capabilities to the best of their potential leading to a final goal.
The process for developing a network of workforce and understanding the objectives of an organization is called the employee performance management. The main thing here is to assemble the objectives of the organization with the workforce.
The 360 Degree Evaluation System also known as multi-rater feedback. In United Sates of America one third organizations uses this feedback system. According to some researches almost 90% of fortune 500 companies use this system. While using this, there is a great chance of creating conflict and it will be difficult to determine whose feedback is correct.
A socialization process or HR Orientation Process is often informal, informal can mean poorly planned and haphazard. Socialization or HR orientation can be divided into three phases: 1. Anticipatory; 2. Encounter; 3. Setting in Phase
Human Resources the Selection process is the mechanism that determines the overall quality of an organization’s human resources. To understand the impact of selection process, consider what happens when the wrong person is hired or promoted. Reliability refers to consistency of measurement, usually across time, but also across judges.