QUICK REVISION OF IMPORTANT TOPICS OF HUMAN RESOURCE MANAGEMENT

• QUICK REVISION OF IMPORTANT TOPICS OF HUMAN RESOURCE MANAGEMENT

•    CONTENTS

1.       MEANING OF HUMAN RESOURCE MANAGEMENT

2.       OBJECTIVE OF HRM

3.       SEPARATION

4.       METHODS OF SEPARATION

5.       DIFFERENCE BETWEEN JOB EVALUATION AND PERFORMANCE APPRAISAL

6.       MODERN METHODS OF PERFORMANCE APPRAISAL

7.       MEANING OF SAFETY

8.       MEANING AND FEATURES OF FRINGE BENEFITS

·         DEFINITION OF HUMAN RESOURCE MANAGEMENT

1.       HUMAN RESOURCE MGMT IS THAT PROCESS OF MANAGEMENT WHICH DEVELOPS AND MANAGES THE HUMAN ELEMENTS OF AN ENTERPRISE.

2.       FLIPPO,” HUMAN RESOURCE MANAGEMENT IS THE PLANNING,ORGANIZING,DIRECTING AND CONTROLLING OF THE PROCUREMENT,DEVELOPMENT,COMPENSATION,INTEGRATION,MAINTENANCE AND SEPARATION OF HUMAN RESOURCES TO THE END THAT INDIVIDUAL,ORGANIZATIONAL AND SOCIAL OBJECTIVES ARE ACHIEVED.

3.       HRM MAY BE DEFINED AS A SET OF POLICIES,PRACTICES AND PROGRAMMES DESIGNED TO MAXIMIZE BOTH PERSONAL AND ORGANIZATIONAL GOALS

·         OBJECTIVE OF HRM

·         THE PRIMARY OBJECTIVE IS TO ENSURE A SATISFACTORY ACCOMPLISHMENT OF THE OBJECTIVE OF AN ORGANIZATION AND ITS EMPLOYEE.

1.       SOCIETAL OBJECTIVES

2.       ORGANIZATIONAL OBJECTIVES

3.       FUNCTIONAL OBJECTIVES

4.       PERSONNEL OBJECTIVES

·         OBJECTIVE OF HRM

·         SOCIETAL OBJECTIVE:-

1.       MGMT OF HUMAN RESOURCES IN ETHICAL AND SOCIALLY RESPONSIBLE MANNER

2.       TO ENSURE COMPLIANCE WITH LEGAL AND ETHICAL STANDARDS

3.       TO MINIMIZE THE NEGATIVE IMPACT OF SOCIETAL DEMAND ON THE ORGANIZATION

·         ORGANIZATIONAL OBJECTIVE:-

1.       FOCUS ON ACHIEVING ORGANIZATIONAL GOALS

2.       ORGANIZATIONAL EFFECTIVENESS

3.       IT IS MEANS TO ASSIST THE ORGANIZATION WITH ITS PRIMARY OBJECTIVE

·         FUNCTIONAL OBJECTIVE:-

1.       TO FULFILL THE ORGANIZATION’S NEEDS

2.       PROPER UTILIZATION OF RESOURCES AND DEVELOPMENT OF HUMAN RESOURCES

3.       AIMS AT PROVIDING WELL TRAINED AND MOTIVATED EMPLOYEES

•     PERSONNEL OBJECTIVES:-SHOULD INCREASE EMPLOYEE’S JOB SATISFACTION

1.       SHOULD MEET SELF ACTUALIZATION NEEDS

2.       ASSIST THE EMPLOYEE IN ACHIEVING PERSONAL GOALS

3.       DEVELOP AND MAINTAIN QUALITY OF WORK LIFE

4.       COMMUNICATION OF HR POLICIES TO THE EMPLOYEE

·         SEPARATION

·         SEPARATION IS A DECISION THAT INDIVIDUAL AND THE ORGANIZATION SHOULD PART. THE PARTING OF WAY CAN BE AT THE INSTANCE OF EMPLOYER OR THE EMPLOYEE

1.       RESIGNATION:-REFERS TO THE TERMINATION OF EMPLOYMENT AT THE INSTANCE OF THE EMPLOYEE. IT IS VOLUNTARY. IN COMPULSORY RESIGNATION AN EMPLOYEE IS ASKED TO PUT IN HIS RESIGNATION

2.       DISMISSAL OR DISCHARGE:-DISMISSAL IS THE TERMINATION OF THE SERVICES OF THE EMPLOYEE AS A PUNITIVE MEASURE FOR SOME MISCONDUCT. IT SHOULD BE SUPPORTED BY JUST AND SUFFICIENT REASON. THE EMPLOYEE MUST BE GIVEN CHANCE OF BEING HEARD.

3.       DEATH: WHEN THE DEATH IS CAUSED BY OCCUPATIONAL HAZARDS THE EMPLOYEE GETS COMPENSATION AS PER THE PROVISIONS OF WORKMEN’S COMPENSATION ACT.

4.       SUSPENSION: PROHIBITING AN EMPLOYEE ATTENDING WORK AND PERFORM NORMAL DUTIES ASSIGNED TO HIM. HE RECEIVES A SUBSISTENCE ALLOWANCE

5.       RETRENCHMENT:-RETRENCHMENT IS GENERALLY ON ACCOUNT OF SURPLUS STAFF.POOR DEMAND FOR PRODUCT,GENERAL ECONOMIC SLOW DOWN ETC. IT ENTITLES THE EMPLOYEE SPECIFIED COMPENSATION

6.       LAYOFF:- IS TEMPORARY SEPARATION OF THE EMPLOYEE FROM HIS EMPLOYER AT THE INSTANCE OF THE EMPLOYER ON SOME BOANFIDE REASONS WHICH ARE BEYOND THE CONTROL OF THE EMPLOYEES, PAID COMPENSATION FOR THE PERIOD.

·         DIFFERENCE BETWEEN JOB EVALUATION AND PERFORMANCE APPRAISAL

·         JOB EVALUATION

1.       IS A METHOD OF FINDINOUT OUT THE WORTH OF VARIOUS JOBS IN THE ORGANIZATION FOR FIXING WAGE RATE

2.       TECHNIQUE OF RATING THE JOB.

3.       THE OBJECTIVE IS TO DETERMINE THE WORTH OF A JOB

4.       SHOWS HOW MUCH JOB IS WORTH

·         PERFORMANCE APPRAISAL

1.        IS THE SYSTEMATIC EVALUATION OF THE INDIVIDUAL WITH RESPECT TO HIS PERFORMANCE ON THE JOB AND HIS POTENTIAL FOR THE DEVELOPMENT OF THE JOB

2.       FINDING OUT THE RELATIVE WORTH OF THE JOB HOLDER

3.       TO DETERMINE INCENTIVES AND INCREMENT

4.       SHOW HOW WELL AN INDIVIDUAL IS DOING ASSIGNED JOB

·         MODERN METHODS OF PERFORMANCE APPRAISAL

·         MANAGEMENT BY OBJECTIVE

·         MANAGEMENT BY OBJECTIVES REQUIRES THE MANAGERS TO SET SPECIFIC GOALS MEASURABLE GOALS WITH EACH EMPLOYEE AND THEN TO DISCUSS PERIODICALLY DISCUSS HIS PROGRESS TOWARDS THESE GOALS. HERE SUBORDINATES AND SUPERIOR JOINTLY SET THE GOALS AND PERIODICALLY PROVIDING FEEDBACK

·         ASSESSMENT CENTERS

•     AN ASSESSMENT CENTER GENERALLY MEASURE INTERPERSONAL SKILL,COMMUNICATION SKILL,ABILITY TO PLAN AND ORGANISE SELF CONFIDENCE ETC IS A CENTRAL LOCATION WHERE THE MANAGER MAY COME TOGETHER TO PARTICIPATE IN JOB RELATED EXERCISES EVALUATED BY TRAINED OBSERVERS.

·         HUMAN RESOURCE ACCOUNTING

1.       HUMAN RESOURCES ARE VALUABLE ASSETS OF ANY ORGANIZATION. THIS ASSET CAN BE VALUED IN TERMS OF MONEY.

2.       ATTACHES MONEY VALUES TO THE VALUE OF FIRM’S INTERNAL HUMAN RESOURCES AND ITS EXTERNAL CUSTOMER GOOD WILL.COST AND CONTRIBUTION WILL REFLECT THEIR PERFORMANCE

·         COMPUTERIZED AND WEB BASED PERFORMANCE APPRAISAL

·          IN ELECTRONIC PERFORMANCE MONITORING,THE SUPERVISORS ELECTRONICALLY MONITOR THE COMPUTERIZED DATA AN EMPLOYEE PROCESSING PER DAY AND THERE BY MONITOR THE PERFORMANCE.

·         MEANING OF SAFETY

·         SAFETY IN SIMPLE TERMS MEANS FREEDOM FROM THE OCCURRENCE OF RISK OR INJURY OF LOSS

·         INDUSTRIAL SAFETY REFERS TO PROTECTION OF WORKERS FROM THE DANGER OF INDUSTRIAL ACCIDENTS.

·         PRIMARILY  A MANAGEMENT ACTIVITY WHICH IS CONCERNED WITH REDUCING ,CONTROLLING AND ELIMINATING HAZARDS FROM THE INDUSTRIAL UNITS

·         IMPORTANCE:

1.       SAVING FROM FINANCIAL LOSSES

2.       INCREASED PRODUCTIVITY

3.       MORALE BOOSTING

·         MEANING OF FRINGE BENEFITS

·         FRINGE BENEFITS ARE INDIRECT COMPENSATION BECAUSE THEY ARE USUALLY EXTENDED AS A CONDITION OF EMPLOYMENT AND ARE NOT DIRECTLY RELATED TO PERFORMANCE.

·         FEATURES:

1.       SUPPLEMENTARY TO REGULAR WAGES OR SALARIES

2.       PAID TO ALL EMPLOYEE BASED ON THEIR MEMBERSHIP IN THE ORGANIZATION

3.       INDIRECT COMPENSATION

4.       RAISE THE LIVING STANDARD OF THE EMPLOYEE

5.       REFER TO ITEMS FOR WHICH DIRECT MONETARY VALUE LIKE PROVIDENT FUND,PENSION. SERVICES REFERS TO ITEM LIKE MEDICAL FACILITIES,RECREATION ETC

6.       MAY BE STATUTORY OR VOLUNTARY