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HUMAN RESOURCE MANAGEMENT
1. Explain the concept of HRM. Write down different stages in the Evolution of Human Resource Management. Definition: "Human resource management is the recruitment, selection, development, utilization, compensation, and motivation of the organization's human resources," French Wendell states. HRM's development: Since its inception, HRM has evolved to take on a new form. The following are some of its development stages: i. The Welfare State of Work: In the past, businesses operated on a smaller scale. Trade unions were first established during that time. A person who can act as a mediator between the employer and employees is felt by its effect. A Labor Welfare Officer was appointed for this purpose. His job was limited to providing the employees with the fewest amenities for their well-being. ii. Stage of Personnel Management: The factory system was developed as the business expanded. Under one roof, many people begin their employment search. As a result, a person whose job it is to make employees available for a business is needed. Earlier Personnel Officers and later Personnel Managers were appointed using this method. Their only responsibility was to find, select, and hire workers. iii. HRM Level: The company continued to grow, and at the same time, technology was rapidly evolving. The need for employee development and training was felt in this circumstance. Human resources were now seen as an essential component of an organization and as something that could be improved. The Human Resource Manager took the place of the Personnel Manager in this cult. His responsibility is to manage people effectively so that they remain a part of the organization for everyone. Human Resources Management: Human resource planning is generally regarded as the process of people forecasting. Correct, but not complete! It also involves
the evaluation, promotion, and layoff procedures. Recruitment: It aims to attract applicants who meet specific job requirements. Selection: the subsequent stage of filtration. aims to shortlist candidates who are the closest match for a particular job in terms of qualifications, experience, and potential. Hiring: Settling on the last competitor who lands the position. Education and Training: those procedures that an employee goes through to improve his skills and abilities when he joins. Administration of Benefits and Remuneration for Employees: The process involves deciding on things like incentives, fringe benefits, perks, and salaries. Money is the most important factor in any job, so this process is important. Employees who perform well want more money, better pay, and bonuses. Management of Performance: It is intended to assist the association with preparing, rousing, and compensating laborers. Additionally, it aims to guarantee that the organization's objectives are accomplished effectively. Employees can be a part of the process, as can a department, product, service, or customer process; all to improve or increase their value. Relations with employees: Organizations face a problem with employee retention, particularly in highly competitive fields. Although there are numerous factors that influence whether someone stays with or leaves an organization, very few of them are within our control.
2. What do you understand by Forecasting Human Resource requirements? Explain. The process of projecting a company's labor requirements and the effects they will have is known as human resources (HR) forecasting. Based on projected sales, office growth, attrition, and other factors that influence a company's need for labor, an HR department makes projections for both short-term and long-term staffing requirements.HR planning includes analyzing the various costs and administrative work associated with increasing or decreasing staff, in addition to forecasting the number and type of employees required. Utilizing an Organization Chart the creation and upkeep of an organization's
won't change next year. To assist you with budgeting, your HR manager makes annual projections of your personnel cost s.
3. What is Executive development programs? How it is different from training? The ongoing process of executive development enables managers to acquire the knowledge, abilities, and knowledge necessary to handle current circumstances more effectively and mature to successfully face challenges in the future. Management development is another name for executive development. It is one of the personnel's fastest-growing areas. It is recognized that a strong management team may be just as crucial to an organization's survival as any tangible asset on the balance sheet. The following is Peter Drucker's definition of executive development: "An institution that cannot produce its own managers will die. “Overall, an institution's capacity to produce managers is more important than its capacity to produce goods cheaply and efficiently. Flippo defines executive development as the process by which managers and executives acquire capabilities not only for current managerial tasks of increasing difficulty and scope but also for future managerial tasks. The following are the four primary objectives of executive development: Maintain your position in a dynamic and competitive environment by ensuring competent staff at all levels, training leaders, and executive career advancement. Maintain your position in a dynamic and competitive environment. In today's highly competitive world, it is critical to remain up to date on the most recent technologies, business procedures, and other topics. By investing in executives to acquire knowledge, skills, and abilities, managerial obsolescence is avoided. They must be effective and competent enough to deal with market forces and maintain a competitive edge. Ensure competent employees at all levels There must be competent employees at all levels of the organization to avoid bottlenecks and keep the business running smoothly. Every executive should perform well and be used to the fullest extent of their potential. Develop leaders A competent workforce is necessary. Leader improvement is a cutting-edge and long-haul process. It teaches the executives how to prepare for larger roles in addition to assisting them in performing their current jobs in an effective manner. Leaders are developed within the organization as a result.
It enables them to maturely approach various business situations, broadens their perspective, enhances their capacity to make sound decisions, and enhances their communication abilities. Every executive should perform well and be used to the fullest extent of their potential. Career Development for Executives It plans career development for executives. Not only does it help them improve their business skills, but it also helps them develop personally and become better people. In order to be eligible for future promotions, they are prepared for higher positions. It boosts their morale, self-assurance, and dedication to the organization. They do not feel the need to leave the organization in search of better opportunities because they are confident that their career goals can be accomplished within the current organization, which results in employee retention. The Importance of Executive Development The following reasons indicate the significance of executive development: Professional managers must be trained and developed through executive development programs. It assists supervisors with creating abilities to confront relentless rivalry. It makes it possible for managers to confront institution and technology-related issues. It aids in improving relationships with workers. To comprehend and adapt to socioeconomic shifts, executives need education and training. Managers' perspectives need to be expanded through executive development. Factors Impacting Chief Development Failure to prepare the supervisors will prompt insufficient and wasteful directors who adversely influence the association's exhibition. The performing managers may become disengaged and frustrated in their role as leaders of the organizations if there are no opportunities for development and training. Market share declines, lower sales, decreased profitability, and other factors may have an impact on the performance of the organization. It is essential for businesses to implement effective retention strategies due to a lack of trained and skilled managers. Organizations are forced to constantly launch new products and services while also maintaining the quality of their existing offerings due to the pressures of competition.
bottom line, if they do, include this in your compensation budget.
- Determine the incentives and benefits you will offer. Things like dental care, vision insurance, and basic health insurance are popular benefits. Additionally, some employers provide benefits like technology stipends and gym memberships. Determine the benefits that you can afford. You might want to think about voluntary benefits as a less expensive option. In terms of incentives, consider the options that will both motivate your workforce and fit within your budget. Sales compensation plans frequently include incentives like bonuses or higher commission rates for reaching sales goals.
- Put your decisions in writing. After deciding what each position's compensation will be, how much it will increase, what incentives and benefits you will provide, etc., You can record all of these particulars in a single document. You will be able to communicate your compensation plan to your employees when they are hired if all this information is contained in a single document. 5. What do you mean by control? Explain the process of control. Definition: In an organization, control is a primary goal-oriented function of management. Comparing actual performance to company standards is a method for determining whether or not activities are carried out in accordance with plans and taking corrective action if they are not. Every manager must evaluate and monitor his subordinates' activities. It helps the manager take corrective action within the allotted time frame to avoid a contingency or loss to the company.At the lower, middle, and upper levels of management, control is exercised. The following are characteristics of an efficient control system: It helps the organization achieve its objectives. enables the best possible use of resources. It looks at how accurate the standard is. It also establishes order and discipline.
boosts morale and motivation among employees. by revising standards and ensuring planning for the future. improves an organization's overall performance. Additionally, it reduces errors. Planning and controlling are intertwined because controlling provides crucial information for the subsequent planning cycle. Controlling is a function that looks backward, bringing the management cycle back to the planning function. Because it deals with predictions about what will happen in the future, planning is a process that looks ahead. establishing guidelines: This entails establishing the objective that must be attained in order to eventually achieve organizational objectives. The standards are the performance standards. Quantitative and qualitative standards are the two types of control standards. Money is used to express quantitative standards. In contrast, intangible things are included in qualitative standards. Estimation of genuine execution: The employee's actual performance is compared to the goal. Performance evaluation becomes more challenging as management levels rise. Actual performance in comparison to the standard: The degree of difference between the actual performance and the standard is compared in this. Taking the necessary steps: The manager initiates it and addresses any actual performance issues. Thus, the controlling procedure regulates the activities of businesses to ensure that actual performance complies with the standard plan. Managers are able to avoid situations that result in the loss of the business thanks to an efficient control system. Control types There are three types of control:
