The Dynamics Of People And Organizations

Reward and appreciate your employees Rewards and benefits management is another important policy within HRM. It is a strategy formulated with the intention to appreciate employees for their performance and contribution to the organisation (McClurg, 2001). Rewards and benefits management can be segregated in to two segments, financial and non-financial rewards; the former focuses on monetary benefits such as performance bonuses, travel and schooling allowances including profit sharing schemes, while the latter involves employee recognition, increased job responsibilities, training and development, leadership opportunities, flexible work schedule and so on (Chiang and Birtch, 2012). Rewards and benefits management is influenced by internal and external factors. Internal factors include organisational culture, organisational structure, business objectives and internal equity, whereas external factors consist of inflation, labour markets, market pricing and business competition (D...

Talent Management and its importance Talent Management (TM), a subset of Human Resource Management (HRM) can be described as a process by which talented individuals identified as proficient, high performing and potential are acquired, continuously developed, rewarded and retained within an organisation (Lewis and Heckman, 2006). Talent, as a theoretical concept focuses on key characteristics in individuals and these include skills, competencies, knowledge, experience and behaviour that are relevant to the nature and success of the organisation (Gallardo-Gallard et al., 2013). TM is becoming increasingly prominent and today’s business world demands spontaneous results that call for niche skills and technical expertise; therefore, it would be inadvisable to exclude a TM strategy within an organisation’s HRM practices, especially if the intention is to retain valuable employees and expand globally (Scullion and Collings, 2011). As organisations differ from one anothe...

Human Resource Management: Future and Reality Looking at the vast knowledge existent within the field of HRM, wherein theoretical perspectives shed light on the various approaches HR specialists consider creating high performing teams, it can be assumed HRM would have to gradually direct towards methodologies that support flat organizational structures versus traditional vertical structures. The simple yet powerful reason for doing so would be due to the fact that organizations need their people to actively contribute in achieving corporate success (Hankinson, 1999); unlike traditional techniques, in which higher management dictates and lower levels are required to perform accordingly (Vanderslice, 1988). In such scenarios, it is recommended that HR departments re-examine policies and procedures that directly impact the wellbeing of their employees; this is essential to ensure that potential candidates that have the calibre to perform effectively are appreci...