HUMAN RESOURCE STRATEGIES

Human Resource Strategies

Human Resource Strategies

Compensation and Reward Strategy

The role of compensation and benefits has experienced an increasing role, from being an unknown issue to be one of the significant challenges and tasks within the Human Resources Department. From an organizational point of view, it is essential for the management to develop strategies based on internal equity and external competitiveness. Such strategies need to address all aspects of compensation, and consider methodologies that allow employees to confront situations of management remuneration.

The subjects addressed in an integrated manner, taking into account tax implications and the impact on the income of the company. The performance of effective management facilitates greater integration of human resource function in the strategy of the company. It is essential for new start ups to consider that employees relate satisfaction with pay, because the socioeconomic benefits, present in the collective agreement or individual contract, play a significant role in the workplace. A company's compensation system operates in terms of cost/benefit that is, the expected result of an investment in return to incentives. Creative Products is a new company, which faces the challenge to provide the best compensation and benefits to its employees with regards to cost. The company provides a range of kitchen appliances and other homecare products. The company needs to plan for higher basic wages, gain sharing or bonus, employee old age benefit and other allowances such as medical reimbursement. In addition, the company can also incorporate flexible working hours, paid leaves, and sick leaves, and insurance into its plan (Ulrich, 1997, pp. 74).

Recruitment

The Recruitment and Selection are a technique to pick or choose among a set of candidate or candidates to the right people to fill the posts in the company, therefore, the main objective of recruitment is to have the largest number of people available, who meet the job requirements or charges to cover the organization. The recruitment, selection, and professional development of employees are tasks that can be routinely given to the human resource or personnel divisions of an organization. Human Resource executives and managers must work together to link business strategy with the talent needed to execute it (Turban, 1992). It is imperative that the leaders of organizations, in cooperation with the human resources division, employ methods that not only recruits the best prospective candidates, but selects and develops them as they progress in their careers. Skills must be constantly upgraded, leadership qualities developed, change facilitated and a new image fostered for the public service. It calls for a new career structures that emphasize mobility integrity and professionalism and the overriding claims of merit in the recruitment, placement and promotion of public servants (Mondy, 2005, pp. 10).

The Selection Process

The selection process for engineers is both complicated and long. Although individuals are applying to be an industrial engineer, the application and selection process is unique to each recruitment agency, but also repetitive. Industrial engineer testing is often dependent on the needs of the skills, but tests can be given when skills cannot ...