Human Resource Management

Human Resource Management

HUMAN RESOURCE MANAGEMENT 3

HumanResource Management

HumanResource Management

Theessay disseminates a large amount of human capital knowledge. First,Human resource management is an important field due to the impact ithas on employees. It is a difficult task to identify the needs andrequirements of various employees. In addition, it is a challenge todesign a strategy that creates a win- win situation for the companyand the employees (Mathis, &amp Jackson, 2003)

Second,the essay touches the human part of managers. For example, keydecision makers mainly dwell on the financial performance of anorganization. They lack the skills associated with human beings.Decision-makers’ key interest revolves around providing the sensein figures. They are obsessed in observing the creation of profit byincreasing sales and decreasing costs. The essay contributes inreminding decision-makers that the human capital in the companycreates their desired outcomes. Consequently, it is important toensure that the human capital is satisfied. Besides, it is imperativeto have the employees love what they do for them to perform optimally(Mathis, &amp Jackson, 2003)

Theessay teaches the benefits of providing employees with a good pay andthe various indicators to observe before granting the benefits.Although the investors’ obsession with profits has no reservation,such information motivates them to create value regardless of thecost. In particular, the information justifies the need forevaluating the significance of employees, and specifically, theirworth in the company. Consequently, the essay contributes byproviding skills in human value management. The management canunderstand the intricacies they are required to encounter. Besides,the essay provides the comprehension of the balance between thecreation of wealth as per se and the maximization of the valuethrough the human capital management (Mcdonnell, Stanton, &ampBurgess, 2011).

References

Mathis,R., &amp Jackson, J. (2003). Humanresource management(10thed.).Mason, OH: Thomson/South-western.

McDonnell,A., Stanton, P. and Burgess, J. (2011). Multinational enterprises inAustralia: Two decades of international human resource managementresearch reviewed. AsiaPacific Journal of Human Resources,49,&nbsp9–35. doi:&nbsp10.1177/1038411110392974


Human Resource Management

Human Resource Management

HumanResource Management

HumanResource Management

Q1.

Oneof the criteria that employees use to evaluate fairness of paystructure is to compare their salaries to other employees. This givesthem a guideline of what their salaries should be. In addition, theyalso compare their pay and their input. For instance, they comparewhat other employees earn in doing the same job in otherorganisation. They also compare what other employees earn for doingthe same job at different or same level in the same organisation.According to Durai (2010), if they find out the pay is equitable, andthen the pay is fair, and vice versa.

Q2.

Todetermine fairness of company’s procedure and outcomes, employeescheck on the following:

  1. Consistency- all procedures should be consistent to all employees at all time

  2. Bias suppression- this means that the procedure not be based on personal self-interest

  3. Accuracy- all procedures should be accurate and with valid information

  4. Correctability- all procedures should be in a position to modify and reverse decisions

  5. Ethicality- the procedure involves keeping the moral and ethical values

  6. Representativeness- procedures should reflect individuals values and outlooks that affects them

Q3.

Meritpay- this is pay increase and its effectiveness depends onperformance appraisal system. This payment is applicable to allemployees.

Incentivepayments- These are lump sum payment and sales commissions given forthe number of item sold. Salespersons are the most likely people tobenefit from these payments.

Cash-profitsharing- This is whereby employee earn yearly bonus based on thecompany-wide performance. It applies to all employees.

Performancebonus- This is whereby an individual earn bonuses for the highproduction level based on performance rating. It also applies to allemployees.

Productivity/gainsharing- This is whereby employees earn bonuses. Incentives arecalculated from the ratio between sale value of production and labourcost. It also applies to all employees.

Q4.

Asa HR supervisor, one of the effective ways to retain employees is tooffer them good benefits packages. Economist urges that employeeswith good benefit package are more satisfied and more committed toattain company goal (Durai, 2010). When selecting employee benefits,the following employee-benefits packages should be put intoconsideration: health insurance choices, life and disabilityinsurance, dental and vision insurance, pre-tax medical andchildcare, flexible spending accounts, 401 (K) retirement savingplan, vacation time, and additional paid time off.

Q5.

Inmy own opinion, the optional benefits that all employees expect arethe holiday and sick leaves. Every employee intends to be at homeduring holidays such as Christmas days, New Year’s Day, Labour Day,and Memorial Day, among other public and religious holidays. Inaddition, it is logic to give for a sick person a sick leave to seekmedication. It is a good idea for employers to offer this benefitbecause it motivates employees.

Q6.

NLRAis a congress that protects employees and employers rights andencourages collective bargaining. NLRA deems management practises andsome private sector labour as unfair because they are harmful towelfare of employee in United States. NLRB, an independent federalagency, enforces NLRA by safeguarding the rights of employees andpreventing unfair labour practises. In addition, NLRB conductelections for NLRA, investigate charges, facilitate settlements,decide on cases, and enforce orders.

Q7.The four approaches of bargaining are

Distributivebargaining approach- this is whereby two parties are in conflict, andonly one party win while the other loss. It is a win-lose approach(Durai, 2010). For example, the negotiation between sale and purchaseof a home commodity.

Integrativeapproach- It occurs when two parties are satisfied. The resources aredivided between two parties hence, a win-win outcome where bothparties benefits. Negotiating an employment contract is an example ofintegrative negotiation.

Compromiseapproach- this is whereby two parties lose. The two parties give upwhat they had aimed and settle for something less. For example,buying and selling a house.

Positionalbargaining approach- the approach focuses on the relationship oftrust. Both parties come into an agreement. Negotiation between aproprietor and customer over an item price is an example ofpositional approach.

Q8.

Someof the factors that affect human resource management in internationalmarket are:

Culture-people from different parts of the world have different values,beliefs, customs, and preferences of the employees. Therefore, thispeople will also have differing ideas on human resource management.

Educationand skill level- in the global market, the requirement of labourmarket, especially education differs. Some countries, especially themost developed, consider people who high level of education andexperience.

Legaland political factors- different countries have different stabilityof political systems. Correspondingly, the HR regulation variesacross countries.

Economicfactors- there are different economic systems in different countries.These factors affect international market where the lesser-developedcountries are open to create employment for the growing population.

References

Durai,P. (2010). HumanResource Management.Chennai: Pearson.