Article Category : HRM
Inverse Promotions
The concept of promotions is quite mundane. Employees are always in an effort to outdo each other in order to get promoted first on the basis of their performance levels. However, at a certain point in time, they reach a level of incompetence i.e. they are no more able to do the work as per the requirements of that position. Their struggle for survival not only makes them desperately unhappy, but also proves costly to the company in terms of lost productivity and lowered morale.
The acceptability of lateral transfers is increasing with employees being encouraged to move from one department to a similar position in another. This increases the knowledge base of an employee and makes her more valuable. This also gives her an opportunity to explore...
Employee Ownership and Productivity
The term “Employee Ownership” refers to ownership of a company, by some or all of its employees. This can either be directly or indirectly and in part or in whole. Employee Stock Ownership Plan (ESOP) is an employee benefit program which enables the employees to become owners of the stocks of the company they work for. Companies offer shares to their employees because they believe being a shareholder of the firm would increase employee loyalty and motivation substantially.
Employee ownership has gained a lot of attention due to various reasons. Majority believes that it is possible to attain better economic performance of the organization through enhanced motivation and commitment which, in turn, is attained through the concept of employee...
360 Degree Performance Appraisal
The meaning of the word “appraisal” is “to fix a price or value for something”. This is used in finance in terms such as project appraisal or financial appraisal where a value is attached to a project. Similarly performance appraisal is a process in which one values the employee contribution and worth to the organisation.
Employees across the entire organisation are appraised of their performance. This could be done annually, twice a year, periodically depending the need of the organisation. Performance appraisal is a systematic and orderly evaluation of performance of employees at work by their superiors or others who are familiar with the techniques of performance appraisal. A performance appraisal is a formal review...
Compensation Management
Compensation Management is an integral part of the management of he organization. Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. It may achieve several purposes assisting in recruitment, job performance, and job satisfaction. It is the remuneration received by an employee in return for his/her contribution to the organization. It is an organized practice that involves balancing the work-employee relation by providing monetary and non-monetary benefits to employees. It is a tool used by management for a variety of purposes to further the existence and growth of the company. It may be attuned according to economic scenario, the business needs, goals, and available resources. Compensation...
Competency Mapping
Competency Mapping is a process of identifying key competencies for a company or institution and the jobs and functions within it. Competency mapping is important and is an essential exercise. Every well managed firm should: have well defined roles and list of competencies required to perform each role effectively. Such list should be used for recruitment, performance management, promotions, placement and training needs identification.
The competency framework serves as the bedrock for all HR applications. As a result of competency mapping, all the HR processes like talent induction, management development, appraisals and training yield much better results.
Competency Mapping Process
The competency mapping process does not fit the one-size-fits...
Recession-Friendly Employee Perks
During a slow economy, most companies are looking for places to cut spending. It’s tempting to start with employee perks and rewards — the word “perk” itself implies an unnecessary extra. But your employees are your most important asset, and keeping them happy is never more important than when layoffs and budgets cuts have made work a challenge. Here are three creative ways to keep rewards in your budget.
1. Give Gifts That Mean Something
For those familiar with Fat Tire, New Belgium Brewery’s flagship ale, the Fort Collins, Colorado-based brewery’s most unique benefit shouldn’t come as a surprise: Employees receive a custom bicycle for their one-year anniversaries. Founder Jeff Lebesch started the brewery after a bicycle tour...
Ideas for Entrepreneurs Facing Personnel Issues
What every entrepreneur should know before hiring or firing.
Alumni entrepreneurs stepped away from the heady world of running things to discuss that world and compare notes on hiring, firing, and promoting employees during an event at the Graduate School of Business.
It was the Center for Entrepreneurial Studies’ second Alumni Entrepreneur Reunion, during which about two dozen participants headed for a small-group discussion with Irv Grousbeck, consulting professor, co-director of the Center for Entrepreneurial Studies, and exemplar to the mid-career alums gathered around the table to pick his brain. Grousbeck, who has taught at the School for over 20 years, co-founded Continental Cablevision Inc. in 1964 and is managing partner of...
Samir 
ramalingam 
Farhaan 
siddharth 
Hans Neukomm 
