What Is Profit Sharing and How Does It Work?Incentive Plans: Profit Sharing: An incentive-based compensation program to award employees a percentage of the company's profits. Profit sharing is a type of pre-tax contribution plan for employees that gives workers a certain amount of a company’s profits. The profit-sharing payments depend on … [Read more...] about What Is Profit Sharing and How Does It Work?
Human Resource Management
Impact of Compensation on Employee Performance.The impact of compensation and benefits on employee performance and organizational effectiveness depends on the existing compensation and performance management programs at an individual company. Typically, most employees respond to increases in pay and benefits with a positive and more productive attitude. However, the … [Read more...] about Impact of Compensation on Employee Performance
Small Business HR: Lessons Learnt During the COVID-19 Pandemic. The COVID-19 pandemic has caused unprecedented economic upheaval. Millions of small businesses had to either suspend operations indefinitely or take on huge losses as the demand plummeted. Businesses that have survived the worst as well as others that have shut permanently have numerous lessons to share.As we … [Read more...] about Small Business HR: Lessons Learnt During the COVID-19 Pandemic
SMART Definition and Meaning. As we know, Management by objectives (MBO) aims to increase organizational performance by aligning goals and subordinate objectives throughout the organization OBJECTIVE SETTING. For the establishment of any objectives should be set using the Specific, Measurable/Measurement, Achievable, Relevant, Time-Oriented >>> SMART philosophy.SMART … [Read more...] about SMART Definition and Meaning
Human Resources Are The Life Blood Of An Organization. Human resources (HR) are considered as the lifeblood for any organization because it keeps them alive and helps to flourish. According to Becker and Husield (1998), human resource is one of the sources of competitive advantage for any business. Values, attitudes, opinion, and behavior which form these resources, have an … [Read more...] about Human Resources Are The Life Blood Of An Organization – Explain.
Difference between personnel management and HRM.Personnel ManagementPersonnel Management is a part of management that deals with the recruitment, hiring, staffing, development, and compensation of the workforce and their relation with the organization to achieve the organizational objectives. The primary functions of personnel management are divided into two … [Read more...] about Difference Between Personnel Management and HRM
What Is Human Resource Inventory? The term ‘inventory‘ is often used in relation to the counting of tangible objects like raw materials, goods in progress, or finished products, etc. In manpower inventory, the items are intangible. Human Resource Inventory, It is also known as the skills inventory comprehensively lists down the basic information on all the employees, like their … [Read more...] about What Is Human Resource Inventory?
What is 360-degree feedback? 360-degree feedback also called just 360 feedback. 360-degree feedback is an appraisal system that accumulated feedback on an individual from different sources who know him/her. Basically, these might be colleagues, direct reports, and customers.What Is 360-Degree Feedback?An appraisal made by top management, immediate superiors, peers, … [Read more...] about What Is 360-Degree Feedback?
What is Human Resource Management? HRM is the part of the organization that is concerned with the 'people' dimension. HRM deals with human relations of an organization starting from recruitment to Labor relations. HRM is concerned with the people dimension of management. It is a process of acquisition, development, motivation, and maintenance of the human resources of an … [Read more...] about What is Human Resource Management?
4 Major Functions of Human Resource Management. Human resource function refers to those tasks and duties performed in both large and small organizations to provide for and coordinate human resources. Human resource functions are concerned with a variety of activities that significantly influence all areas of an organization, and include followings 4 major functions of human … [Read more...] about 4 Major Functions of Human Resource Management