Compensation HRM is managing people within the employer and employee relationship. This means that it involves the productive use of people in achieving the organizations strategic business objectives and reaching the point of satisfaction for employee needs (Stone, 1995).
There are many important aspects of HRM and responsibilities of the organisation personnel in order to achieve strategic management of the organizations human resource. I would like to discuss the most important for me if I were put in the position of human resource specialist. I know that all managers must effectively deal with human resource issues because these issues are at the core of being a good manager. Human Resource Managers play a key role in this all important process of securing and retaining productive personnel.
Human Resource Managers recruit and interview prospective employees, make and/or advise on hiring decisions, and develop programs and training opportunities that enhance morale and productivity and minimize costly job turnover. In a small organization, a human resource generalist may handle many, if not all, aspects of human resource development. In contrast, larger corporations employ Directors of Human Resources, who then coordinate the activities of their Human Resource Specialists, who in turn are: Recruiters Training and Development Managers Compensation Managers EEO Representatives Employee Benefits Managers Industrial Relations Managers The human resource field demands a wide range of knowledge and interpersonal skills. So, if I will be Human resource manager or specialist, I must speak and write effectively, and be able to work with and supervise people from diverse cultural backgrounds, education and experience. I must be adept at adjusting to changing corporate policy and function well under pressure. Integrity, fair-mindedness, and a persuasive, congenial personality are all traits that effective HRM’s have in common.
1.2. Finding and Retaining Talent Human resource is an important resource of a company as important as capital. It could be pivotal for a company in enhancing the company’s competitive advantage. This is because the most challenging task of human resource manager is to retain recruit and the right people for a suitable position and having such people in the time they need it. Hiring of appropriate ...
According to Stone (1995), there are four key roles for a human resource manager is to be: 1) a strategic partner, it allows the HR manager to be a part of the business team. 2) an administrative expert, he ahs to be the organisations behavioural science experts in areas as staffing, development, appraisal, rewards, training, communication and design. 3) an employee champion, he must be able to relate with the employees and 4) a change agent, here he must be able to serve as a catalyse for change within the organisation. Other activities of HR Manager are recruitment, career planning and development, employee motivation, compensation and benefits, industrial relations and learn to manage diversity in culture (Stone, 1995).
If to speak about the aspects of Human resource management that are covered in the course related to compensation, it i important to outline that Compensation Managers devise ways to insure fair and equitable pay rates. They also oversee their firm’s performance evaluation system, and design reward systems such as pay-for-performance plans.
The most impostant aspects Compensation Managers have to know and to fulfill are the following: To create pay-for-performance strategies that reward collaboration, teamwork, and superior results; develop career pathways and job transfer strategies that facilitate the career growth of high-performing staff; and institute other reward strategies. To adopt and maintain a set of tenure, promotion, and salary enhancement criteria that recognise and reward those staff who meet and exceed these expectations. To encourage the payment of staff who advance the companys commitment to excellence at or above the levels paid by companies with which we compete for market place. To promote, in the markets where we recruit, the competitive payment of staff who support an efficient, high-quality company. With fulfilling all these roles and responsibilities, the Human resourses specialists, Compensation managers and other personnel will lead the organisation into a strategic human resource management and it will lead the organisation to achieve its goals. In every organisation, it is essential that the organisation must become strategic in managing their human resource.
Being a healthcare human resource manager is a lot harder than what some people might think. Some people become healthcare HR managers because they think that by having the experience of any management position it could be the same, but even though the main idea of managing people is the same, in the case of a HR of a healthcare facility many state and national regulations have to be followed in ...
The top level management or the middle management even the lower level management – all of them play an important role in the organisation success. This not only determines better performance in the future, but also allows the organisational personnel to be more focus on the roles and this will put a positive sign on their peers and subordinates.
Top Executives. March 21, 2004. Web site: http://stats.bls.gov/oco/ocos012.htm HUMAN RESOURCE MANAGEMENT Certification Program. http://www.colsouth.edu/distance_learning/Certific ations/chrm.html#aspects http://www.shrm.org/students/careers.html#hrm http://www.bizednet.bris.ac.uk/fme/3-1.htm http://www.strath.ac.uk/Departments/HRM/news/index .html Stone, R.J. (1995).
Human resource management, John Wiley and Sons, Brisbane..