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 is Acquire, Build, Contemplate, and Do ?

          According to our reading text Cultural Intelligence for Leaders (2012), to acquire knowledge has to do with the cognition and developing the understanding of the different aspects of culture. It is important that we understand and are able to identify the cultural elements and their relations such as the channels of communication and their impact on behaviors and attitudes of the people (Cultural Intelligence for Leaders, 2012).           Metacognition comes to play when we build our strategic thinking that explores the knowledge we acquired in an unfamiliar culture. A person should be able to analyze the data collected in the previous step to detect patterns or causes. Doing this analysis helps us to understand the behaviors and attitudes of people (Cultural Intelligence for Leaders, 2012).           Because of the possibility that we may encounter difficulties while trying to become familiar with...
Post a Comment
Read more

Work life balance tips for HRs

Benefits—Tangible and to the Culture of an organization that undertakes the adoption of policies designed to help employees with work-life balance?  What does an organization stand to gain if it can work through the growing pains of implementation?    Employers who choose to adopt some work-life policies may find that the candidate pool of applicants increases since employee are always interested in balancing their work and personal lives.  Clearly, a benefit is being able to attract the best possible candidates.  Absenteeism may decrease if employees are able to better structure their lives because of time, or a day, to be taken may not need to be taken if the employee is able to use a flexible schedule, (Kossek, 2009).  Additionally, those employees who wish to start a family may feel at ease knowing that as circumstances in their life changes, their employer has mechanisms for employee flexibility.  This means that there may be less absenteeism....
Post a Comment
Read more

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