Identify the importance to a business in examining indicators of effective human resource management and explain the role of each indicator in human resource management.
To ensure that a business maintains exemplar attitudes and output of product and/or service several aspects of the enterprise in relation to Human Resource Management strategies need to be enforced, reviewed and adapted to meet benchmarks, goals and ultimately grow as employees, employers and a business as a whole.
A key performance indicator is a quantifiable measure a company uses to determine how well it meets the set operational and strategic goals. There is a distinct interdependence between the indicators and strategies. When change is inflicted there is a chain reaction- if each and every area is not addressed and examined by HRM for flaws and areas for updating than the business as a whole will see fluxuation, and ultimately decline across not only the HR sector but Finance, Marketing and operations. It is therefore pertinent to the sustainability and success of all enterprises that there is constant review and inspection of indicators. The foremost reason to consistently and constantly examine the effectiveness of the key indicators that affect business success- is to understand reasons affecting the efficacy of such areas as absenteeism, staff turnover etc. and if there each is changing in a positive or negative light, how these differences correlate to staff satisfaction in a corporate culture light and lastly what strategies will need to be implemented to address these issues, how this will be done and why.
Firstly, corporate culture is a collective term for the general interests in relation to the working life of a business ; specifically between the employees and employers. Sustaining a strong, structured and healthy bond will enact a more productive working environment due to worker satisfaction and positivity amongst the workplace environment. For example google offers a range of bonding activities and schedules that are aimed at building strong bonds between the employees, this being a critical tool for HRM to monitor and nurture for future success and expansion/growth.
Furthermore, benchmarking is a vital indicator for management teams to monitor. Benchmarking involves setting standards for measurements such as output per workers, levels of faults and breakdowns, and levels of customer satisfaction. Lack of resource management and upkeep within this sector could result in low levels of success in meeting marked standards; this often due to poor strategies in employment relations which in turn will lead to low productivity, poor quality product and customer dissatisfaction. It is there eminent to an effective HRM scheme that benchmarks in an informal (discussion) and formal (written) be set, maintained and upkept throughout the working year so an enterprise can see growth towards the future rather than recession and no clear direction.
Moreover, staff turnover refers to time and money spent on recruiting and orientation, training programs, periods of low productivity as new employees take time to adjust, and low levels to motivation in other staff. This indicator requires heavy attention and examination as there will be range of employees within most enterprises some with low experience and others with high. It is statistically proven that 46% of highly skilled workers are dissatisfied with their job. HRM will need to implement strategies such as a more independent working schedule along with other options to cope with these differences and ensure that the business maintains structure and high productivity across all levels of work. Additionally absenteeism, indicates the failure of a worker to turn up to the workplace for various reasons. It costs approximately 75% of an employee's wage to replace them. An effective HRM team must collaborate, analyze and detect reasons for high levels of absenteeism and then construct strategies, and techniques to implement within the acquisition process (internal to external recruitment), invest more energy and resources into the maintenance of employees (Introduce monetary and non-monetary rewards) and perform exit interviews to gain a guide as to WHY employees are leaving the business and hoe make certain areas and procedures more effective all whilst maintain worker satisfaction.
Next, there is accidents. The workplace should always have precautions, regulations and equipment that not only make it a safe working environment but a place that employees feel comfortable working in. A prime example of ineffective use of safety measures was in China 2016 when a building site collapsed due to broken scaffolding and killed 40 workers. The management team should be working collaboratively with the WHS legislation by:
1. Implementing guidelines.
2. Make training procedures mandatory.
3. Continually inform and reform strategies to make them better.
Lastly, Disputes in the workplace rely on the cooperation and guidance of management singularly or with the use of external parties to resolve the circumstances with the benefit of all involved. To effectively control such situations a variety of strategies should be investigated and considered
negotiation ------ mediation ------ conciliation ------ arbitration
This is a 18/20 extended response response.
Home
Help
Search
Login
