Human resource management (HRM) is nothing but the strategic and coherent approach towards the administration of an organization’s largely valued assets – the people. In HRM, benefits and Compensation are also the vital parts of employees what they get in return by the service that they provide to their employers.
However, it is also necessary to know whether the employees undervalue the cost of benefits that they are provided as an employer. In the business world, “training and development” refers to support in an organization internal human resource efficiency of extra studies education and improve the process. These things are much important to have in organization if it wants its glory.Firstly talking about recruitment, recruitment process indicates hiring of a person or group for a particular position, it can also be said as activity that creates a link between employer and job seeker. Generally HR department team in the company looks to evaluate the logical, analytical, critical, commitment and responsibilities when searching for the candidates in the candidates while selection. The Human resource management main role is to sustain employees of an industry is to make sure that the adequate employees levels by means of the right skills, correctly compensated and encouraged. It comprises of the activities of human resources planning, recruitment, selection, orientation and training.
Nowadays numerous businesses are ramping towards Human Resources Outsourcing (HRO) since it removes the load of administration as well as changing their focus again to before the individual’s policies. Their main goal is to reduce the expenses and at the same time, organizations are also looking before the Human Resource Management to offer first-rate service to their employees. To a certain extent HRM tries to save the cost of the organization or we can say HRM plays an important role in cost cutting.
HRM looks at an organization where it could be extra capable, in which the organization can be able to work better. HRM helps employees to be more engages and productive by providing various kind of trainings, learning and development as per the requirement. We can say HRM main objective is to make organization work better at a lower cost.Usually there are three types of recruitment needs. Planned, awaited and unexpected. How to advance ability for drawing the correct candidate? Which recruitment way and performance will get the largely competent candidates? How to strengthen as well as attribute as an employer? How to simplify the screening process? How to perform a reasonable and systematic application process? These are some procedures that need to be followed in recruitment. In most of the organizations, recruitment process operates various channels: But in most of the organizations companies will agree to the existing employee’s applications before trying to bring from the external resource. The main types of recruitment process are internal recruitment and external recruitment.
Generally, as soon as a position opens in an organization, the HRM panel would normally place the vacancy under the company’s intranet as well as in familiar spot, such as cafeterias, break rooms, lifts and departmental information boards. If member of the organization gets attracted in the position, they will usually require to go through a related process same as external candidate. In case of external recruitment, the company generally places the position on various external resources for example: Internets, newspaper, consultancies, educational institutes or campus selection and bring a friend referral to the employees.Talking about selection, it play an important function in the achievement of any company. If the organization wants to be successful and wants to win the race against the competitors, they need to hire the best of the individuals who can work effectively and efficiently. Thus a wrong person selected can cause a reputation loss or failure in meeting the goals. There are various stages in selection process like applications, panel interview and presentation and selection tests.
Usually in External Selection phase this kind of procedure is followed. While during Internal selection, all the employees who are shortlisted and interviewed for the position if they meet up the important criteria for the job. Recruitment and Selection process is implicated in every part of the organization.
Every department in the organization needs employees thus recruitment and selection play an important role for the success of the organization.Compensation and Benefits In each and every organization people work for to get something in return or they expect something after completion of their work form employers. We must have heard a common phrase: give and take. We must always things to people in exchange for what you give them.
Compensation refers to this Exchange, but in monetary terms. Compensation from the employer an employee feedback for work. What benefits would the company offer to its employees? Problem arises when you begin to decide what to give to whom and on what basis? Employee benefits are not performance-based, they are membership-based. Workers receive benefits regardless of their performances. Employee benefits as a whole have no direct influence on the performance of employee, however, insufficient benefits contribute to the satisfaction of the low level and absenteeism and turnover in workers increase. (DeCenzo and Robbins; 2007). So would you must carefully design your benefit package.
Your package contains a cell phone to each employee, with them to a training workshop or seminar, giving them a day or two off every month and so on. While the decision on the package of benefits, the associated costs. A well-designed compensation & benefits plan will benefit in motivation, low absenteeism and low turnover. Direct compensation persuade to financial benefits offered and provided to workers in return of the services that they provide to the Company.
Salary will be received by the employee after some task done by him/her for a certain period of time that can be a day, a week, a month, etc. Some of the Organizations either provide accommodations to its employees who are from different regions, state or country or they provide house rent allowances to its employees. This is done in order to maintain social security and to provide motivation in their work. Employer provides some transportation facilities to its employees. Some of the organization also provides petrol allowance and other allowances also they provide their own transport services in order to pick and drop to their employees. Just like these, workers are also given Leave Travel Allowance, medical compensation, bonus, special allowance, indirect compensation, leaving policy, overtime policy, hospitalization, insurance, let travel, retirement benefits, holiday homes and flexible timings to keep the talent in their company which would be greatly helpful for them in near future. Each and every company must identify its mission, understand the perspective within which it has been operating and developing a policy and structure for meeting its’ objectives and goals. To retain, attract and motivate the employees required for high levels of performance the human capital plan it adopts must contribute to its success.
Training and DevelopmentTraining and development is defined as a field concerned with organizational activity whose objective is to improve the performance of individuals and groups in organizational context. To be specific, writers of some literatures have divided the term T;D into two independent parts: “training” and “development”. Separated definition for each word is created, which makes the definition of training and development quite straightforward. Training was defined as a “planned and systematic process to modify or develop attitude, knowledge or skills through learning experiences, to achieve effective performance in an activity or range of activities.” (Garavan et al., 1995; Harrison, 1993; Reid et al. 1994). A separate definition of development was that “the growth or realization of a person’s ability through conscious or unconscious learning, which usually includes elements of planned study and experience supported by coaching and counseling” (Wilson, 1999).
The purpose of T;D concentrates on individual development. There is need to train and retrain the employees on continuous basis. T;D has the goal of influencing basic values and beliefs of individual. Meanwhile, there are also technical and management T;D programs related to systems and procedures appeal to the inherent logic, and the planning methods and people skills appeal to the strategies of succeed. Although the main purpose of T;D is individual development, which is one of the four key functions of HRD, we cannot say that T;D is a subset of HRD. HRD and T;D are discrete entities. HRD is the integrated use of T;D, organizational development, career development and performance development to improve individual, group, and organizational effectiveness.Training and development in an organization also requires a mechanism that establishes the competencies required by an organization to achieve success.
Therefore, the strategy of T;D includes 1) identifying the employees’ training needs, 2) finding out the HR strategic plan, 3) establishing personal developing plans and 4) evaluating the T&D outcomes by assessment. The process could be revised over and over again.ConclusionTo sum up, all these things are much important and have a huge impact on any organization or company.
The recruitment can be the course of looking for the candidate for the employment and invigorating them to be valid for the job, whereas selection engage in the various stages through which the candidate is selected as per the ability. Human Resource Management (HRM) never been as important as it is today. Companies want to attract, retain and motivate brains to achieve goals. Compensation management can be one of the best tools to attract, retain and motivate people. However, training and development is what I found the most important one. Training is vital for an organization to develop the employee.
Continued self-development-Training aims at continued self-development of the employees. Employees are expected to develop themselves continuously in an organization. When the employees in an organization are developed from time to time with all updated knowledge, then definitely that organization will grow to a greater height.
