HRM 1200

HRM 1200

HRM 1200

Introduction

The concept of human resource management involves the planning of workforce through a complete process. This entails an array of activities, the purpose of which is to evaluate the demand and supply of labor. The entire process begins with the human resource planning which encompasses the examination of different factors that impact the labor supply in the market and assessing the staffing needs of the organizations in order to recruit employees in the short, medium and long terms (Mondy, Noe, Gowan, 2005, pp. 121-128).

Rewarding employees and employees is one of the components of motivation. While the examples highlighted in this note are large enterprises, you can always use them as inspiration and adapt to smaller companies. No matter the size of the company, whether small, medium or large. What does matter is that those who work in it are committed and feel recognized. Motivation generates productivity, productivity generates profits, and profits allow the company to continue to grow. It should be noted that team is the most important asset for success, the monthly remuneration paid to them is not always sufficient incentive, knowing what motivates them is essential, for it must work to understand what motivates each person team and achieve a high level of performance.

Employee Reward

An incentive program is designed in such a way that rewards are based on the employee's performance and on the results of the company. The program can be split in order to reward the performance of employees in general and certain employees in particular. The company can consider giving all employees a lump sum or a salary increase percentage when the company reaches a given threshold of profitability. This program could also include an assessment of specific objectives to recognize individual performance. A fixed amount of net income may be allocated to a fund for excellence reward employees who have reached the agreed objectives and contributed to the success of the company. In this way, any additional amount paid to employees is based on the improvement of business results, not only on inflationary expectations.

Informal Rewards

That the manager personally congratulates employees who have done a good job.

That the manager sends personal notes of congratulations to those who have done well.

That the manager made public recognition of good performance of the employees.

That manager then uploads the meetings employee morale, to celebrate the triumphs.

A rewards program built can attract and motivate employees. Nowadays, the best companies offer rewards programs included that go beyond compensation and benefits to attract retain and motivate their employees (Armstrong, 2007, pp. 89-95). An excellent rewards program results in positive changes in employee behavior, reinforces the overall strategy of the company and ensure organizational success in the future. Organizations should consider the following when developing a rewards program effective: compensation, benefits, work-life balance, performance and recognition, and finally development and career opportunities.

As the market changes and the organizations start competing for the same resources, knowledgeable employee will come to expect a comprehensive rewards that ...