Skip to main content

How financial requirements impact human resource?

When an employee fail to meet expectations of achieve any target set for him or her but more importantly, organization might lose on potential gain or cost savings. So, when any employee performs poorly, or organization has to invest in performance improvement program, the organization’s profit potential goes down. But, there is another angle to it.
Employees are assets for any company. Training employees to make them more productive is an investment companies make. Even giving raise and bonus is another way to retaining and attracting top talents. Recruiting new resource and training those costs companies way more money than retaining existing talents.
So, there is a financial implication for each action.  And that is in mostly expenses and extra out of the budget expenses in cases of employee training and performance improvement programs. But, these expenses are actually investments to get more out from low performing employees and retaining them.


Labels:

Comments

Post a Comment

Popular posts from this blog

What are the Cultural Makeup We are Unaware Of?

          Having a thorough understanding of cultural influences and components is a prerequisite that helps employers and the human capital managers tolerate and better manage individuals and employees with cultural differences to avoid misconceptions and altercations due to “cultural misunderstandings” (Lynch, 2017).           In as much as there are tangible aspects/elements of culture such as dressing, language, food, etc., the biggest components of culture are actually hidden beneath the surface. This comprises of the invisible values and rules that differentiate one culture from the other (Penstone, 2011). It is always difficult to use the rule of culture to interpret the components of another culture. Crucially, the tangible and visible aspect of a culture is usually influenced by the hidden components, such as values, notion, attitudes, and assumptions (Penstone, 2011). Edward T. Hall in his 1976 theory de...
Post a Comment
Read more

how can HR Managers help raise the cultural intelligence of an organization.

I will start by saying that, I have worked for 2 employers so far in my 12 years career and I do not think the HR took any substantial step to raise cultural awareness. Saying that I will share my thoughts on what the HR can do.             I have always worked in multinational companies with people from various national backgrounds. While working regardless of cultural differences you are supposed to know your work and deliver. So, there is no bonding or cultural exchanges happen. But someone like myself who worked in multiple geographies can easily distinguish between work culture in India, USA, and Australia.             So, first thing, HR can do, before sending employees in foreign assignments they can train them about the countries culture and people. Along with any other training that is useful. In fact, I would say, learning the language and being able to follow accent i...
Post a Comment
Read more

How the four areas of cultural intelligence aid a leader in understanding culture as well as intercultural efforts?

The introduction to this Unit points out that technological and globalization have taken our interdependence with our work colleagues outside the office. We are now connected in so many ways, to so many people, from so many walks of life. Such, often unintentional, interconnectedness changes the rules about how we need to think about the world and how we need to interact with the people we meet in it. Cultural intelligence can help us negotiate this new world, help us engage people, “create systems of inclusion” (Saylor, 2012, p.188), and thereby be more included ourselves. The four areas in which cultural intelligence will significantly improve our understanding of culture and intercultural work are; reframing, adaptive work, systems thinking, and consciousness. (Saylor, 2012, p.187) Cultural intelligence is our ability to successfully adapt to unfamiliar cultural settings. (Saylor, 2012, p.68) Reframing, adaptive work, systems thinking, and consciousness are all part of our cult...
Post a Comment
Read more