...(nobscot). Further analysis of these ratios will allow identification of the industries being affected by turnover, the reasons behind this, overall costs of the turnover, and detailed recommendations to reduce these activities by developing creative staffing models that will induce and promote retention. Problem Every organization is built on a foundation of the jobs within the organization and the people that perform those jobs. The jobs are a constant within each company; while the employees are performing specific duties we must realize that when they leave, the jobs remain the same and the people must be replaced. Different rates of turnover may exist depending on the type of job being performed and because of this it is important that HR professionals have a good understanding of potential turnover based on this as well as other factors. It is also vital that an understanding of the costs associated with turnover is also well known. Topical Area Turnover rates and...
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...skill-based pay | | Answer Key: B | | | Question 3 of 15 | 10.0/ 10.0 Points | What type of pay should be determined over time, by differences in job performance? | | A. seniority pay | | | B. merit pay | | | C. skill-based pay | | | D. knowledge-based pay | | Answer Key: B | | | Question 4 of 15 | 10.0/ 10.0 Points | What is a cooperative effort between employees and their employers to promote rewarding work experiences throughout employees' work lives called? | | A. employment termination | | | B. career development | | | C. labor-management relations | | | D. training | | Answer Key: B | | | Question 5 of 15 | 10.0/ 10.0 Points | Which of the following are the three broad categories of discretionary benefits? | | A. welfare practices, services, paid time-off | | | B. protection programs, paid time-off, services | | | C. paid time-off, welfare practices, protection programs | | | D. services, protection programs, welfare practices | | Answer Key: B | | | Question 6 of 15 | 10.0/ 10.0 Points | Which theory states that employees' knowledge and skills generate productive...
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...and leverage talent of all generations, the following studies represent the growing foundation of evidence to make changes in company culture, HR policies, benefits and programs. No matter which generation, the work environment tends to either attract or repel individuals. An exploratory study examined dimensions of employee fit with work environments and the impact of employee job satisfaction and turnover intention among different generations. The findings suggest that employees in the Baby Boom generation value work relationships as a contributor to employee satisfaction, whereas for Generations X and Y, the work environment fit (potential for career growth, decision-making opportunities, autonomy and job challenge) is a primary retention factor. Work/life balance is a key commonality among the four generations. A recent study that explored generational effects on work-family conflict in the United States suggests that changes reflect family and career stage differences. For example, “family interfering with work” has changed over time for Generation X and Baby Boomers but stayed at the same level for Matures, perhaps due to having fewer family demands (empty-nest family stage). Generation X and Baby Boomers value work/ life balance, growth opportunities and positive work relationships. The implication is that managers and HR professionals will want to consider generational differences in work/life...
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...Computing: Benefits to HR Name: Mala Srinivas & Animesh Giri (Assistant Professor, Dept of Information Science technology, PEs Institute of Technology-BSc) Affiliation: III Semester, MBA – HR, PES Institute of Technology – BSc Email: Mala.s44@gmail.com animeshgiri@pes.edu Title: Go-Green with Cloud Computing: Benefits to HR Name: Mala Srinivas Affiliation: III Semester, MBA – HR, PES Institute of Technology – South Campus, Bangalore Email: Mala.s44@gmail.com ABSTRACT Cloud Computing is the hot topic in today’s World. Cloud computing comes with the great advantage of providing higher energy savings, a fact which translates into being environmentally friendly. In the last few years, technology has improved immensely, taking the environment into account and providing a solution for those worrying about carbon footprints and the impact of technology into the environment. In the last couple of decades, HR has re-invented itself from the mundane activities like Industrial Relations, labour etc. to the front of a Company’s Business radar on par with Marketing, Finance, Administration and other departments. HR managers today use hundreds of strategic and collaborative technology tools to keep up the HR function fast moving. But lot of these technology tools is not implemented in a large number of Small & Medium Enterprises (SME) who forms 75% of our country’s market. Why? Because many of the SME’s are of the opinion that HR systems are...
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...Director of HR Description of Request: Development an installation of a benefits election system to support the tracking and reporting of employee (union and non-union) benefits. Background of Request: Memo to Graham Grove, 3/22/04 , on Health Insurance Benefits. This memo is located on the Huffman Trucking Intranet site under Human Resources - Communications tab. Expected Results/Impact when completed: Creation of a project plan in Microsoft Project that will be used to manage, track and report the progress of this software development to the management team. Facts About Huffman Trucking Huffman's primary customers include: • U.S. Government • Automotive parts suppliers to major manufacturers • Electronic consumer products • Raw materials (polymer) for manufacturers of plastic products • Any customer requiring special accommodations, such as wine, computers, munitions, etc. Huffman has facilities in: • Cleveland, OH • Los Angeles, CA • St. Louis, MO • Bayonne, NJ Huffman employs: • 925 drivers • 425 support personnel Huffman owns and operates: • 800 road tractors • 2,100 45' trailers • 260 "roll-on/roll-off" units SR-ht-001: Create a Benefits Election System Define Problem 5 days Analyze Situation 15 days Design Solution 10 days Implement Design 20 days Support Product 10 days Define Problem - Understand Organizational Context of Huffman Trucking HR Department - Understand the history of the problem with Benefits tracking...
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...<<your name>> <<instructor’s name>> <<course title>> <<date>> Assume you are the HR Director for a midsized company and must make a decision about the company’s employee benefits package. You have not been in this position before and must maintain the current benefits budget; there may be no increases or changes to the package that will result in additional spending. 1. Describe the selection process you would use to make the most cost-effective and employee-friendly decision. Answer – Choosing the right type of benefits package is a very critical component of being attractive employer, helping attract and retain satisfied employees, by ensuring that majority of employee needs are taken care of. Given the huge number of options that are available in the market, with many more coming up every year, it becomes very tricky to determine what benefits package would be the most beneficial to the employee. Given the constraints on budgets, there must be multiple trade offs made between the extent and variety of benefits provided, and therefore the employer has to determine which package would cover the needs of majority of its employees. In this scenario, given that the available budget is fixed and the benefit plan for the next year has to at least as good as or even better than the previous year, the HR director has to think creatively to come up with a package that best aligns with the needs of the employees. The end result of...
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...They have over 550 personnel throughout the company and have revenues of excess of $1 billion dollars. With the growing number of employees and business it is recommended that various components of the business system are to be update or added to manage the company’s growth. The Human Resource and Legal department are greatly affected by the growth of the company, intern possess some challenges with handling employee data. Riordan Manufacturing will be able to benefit highly from improvements to their business systems. The human resources section is well organized. It contains job classifications and contains confidential information about employees and personnel. The human resource system (HRIS) was established in 1992 and contains the payroll and employee information. This system is no doubt out of date by 21 years and would definitely be able to be upgraded with current hardware and software. To begin with the HR (Human Resources) department, to have a successful organization there needs to be a well-established HR department. The Human resources department deals with employee management such as hiring, firing, conflicts, and financial side of the organization. A direction this organization which will be managed through this department is health and retirement program. This will decrease employee turnover rates and improve so many other aspects through a happier group of employees. The current Human Resource System (HRIS) tracks employees from an operational and financial...
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...1. INTRODUCTION One of the traditional Human Resource (HR) functions is determining employees’ compensation. In modern organisations, with variety of costly employee benefit programmes, wage incentive programmes and structured pay scale, the compensation task is even more difficult and challenging for an HR specialist. Employee compensation can affect their productivity and their tendency to stay with the organisation. The HR manager must ensure that the compensation policy does not lead to high staff turnover. Employees need for income and their desire to be fairly treated by the organisation make developing HR programmes important for Human Resource Department (HRD). Compensation of people at work has become one of the most demanding problems facing management in South Africa (SA) today. In the past, payment for work performed was simple and straightforward. Paying for work not performed, such as vacation was simply unheard by the management. For most parts the employer displayed a take it or leave it attitude when making pay offers to employees. Today the almost automatic increasing of employees’ salaries every 12 months or so is common practice. Although thing has change substantially, new and better ways of compensating people are needed in Human Resource Management (HRM). To understand the utility of broader construct for considering military and civilian pay comparability, it is necessary to consider how military service differs from employment in the civilian...
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...compensation and benefits are vital part of HRM in most of the organizations, education of compensation and benefits reflect many practices and concepts pertaining to HRM. Human Resources practices do not operate in parts. They need to be strategic, logical and planned in the situation of the bigger organization, of which they are a part. Anyone in HRM is first a business partner of the organization and then an HR professional in their individual disciplines such as compensation and benefits. A business partner is the one who is loyal to the company passionate about the business first and then to his or her respective discipline or area of work. This reflective research paper will also identify the major elements of compensation and benefits in addition to teaching strategies of these functions. It is important to implement compensation and benefits in a mutually beneficial way, for the individual and the organization. Prior to any discussion about compensation and benefits, it is important to understand the distinction between direct and indirect compensation. Direct compensation refers to any reward, usually in cash and stock, given in direct proportion to performance. Indirect compensation is not related to performance and is given in the form of various benefits. Compensation and benefits strategy must cascade from the organizational mission and the HR strategy. This is true of all the HR functions. However, it is particularly critical in compensation and benefits because a very...
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...Square is one of the wealthiest and most successful companies in Bangladesh. Even more important, from a human resource perspective, is the fact that Square is an employee-driven organization. While other organizations base their success on better manufacturing techniques, or better technology, Square success is based on the effectiveness of their employees. Essentially, Square value their staff and realize the importance of their staff. This focus on employees may, in the future, expand to all organizations. Square then, is worth studying as an example of best practice in human resource management. Square Textile Ltd. started its operation in 1997. It was enlisted in Dhaka Stock Exchange & Chittagong Stock Exchange in 2002. The business lines of Square Textile Ltd. are manufacturing and marketing of yarn. Its factory is located in Gazipur, Dhaka. The manufactures 100% Cotton Ring Span Yarn or Hosiery, 100% Cotton OE Rotor for Hosiery and Knit Fabrics for 100% export oriented readymade Garments Industry. The strategic Goals and Objectives of the Company are to strive hard to optimize profit though conduction and transparent business operations and to create more competitive in the internal and external market. In home, customer of Square Textile Limited is export oriented readymade Garments Industry. The Company also exports its products to the market of Europe & USA. The export sells increased by 19% in 2003 over the previous year. Competition level is increasing...
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...HUMAN RESOURCE the comany assets Tax-deferred - Investment earnings such as interest, dividends or capital gains that accumulate tax free until the investor withdraws and takes possession of them. The most common types of tax-deferred investments include those in individual retirement accounts (IRAs) and deferred annuities. 360 Survey: An employee feedback program whereby an employee is rated by surveys distributed to his or her co-workers, customers, and managers. HR departments may use this feedback to help develop an individual's skill or they may integrate it into performance management programs. 401(k) Plan: An employer-sponsored retirement plan that has become an expected benefit and is therefore important in attracting and retaining employees. A 401(k) plan allows employees to defer taxes as they save for retirement by placing before-tax dollars directly into an investment account. Employers also contribute to the plan tax-free, for instance by matching contributions. Some plans enable employees to direct their own investments. These plans can be expensive and complex to manage. It is common for companies to outsource all or part of their plan. No tax is levied until the employee withdraw the amount. A Absenteeism Policy: A policy about attendance requirements, scheduled and unscheduled time off, and measures for dealing with workplace absenteeism. Repeated absenteeism can lead to termination. * Scheduled time off: Excused absences from regular...
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...Each organization works towards the realization of one vision. The same is achieved by formulation of certain strategies and execution of the same, which is done by the HR department. At the base of this strategy formulation lie various processes and the effectiveness of the former lies in the meticulous design of these processes. But what exactly are and entails these processes? Let’s read further and explore. The following are the various HR processes: Human resource planning (Recruitment, Selecting, Hiring, Training, Induction, Orientation, Evaluation, Promotion and Layoff). Employee remuneration and Benefits Administration Performance Management. Employee Relations. The efficient designing of these processes apart from other things depends upon the degree of correspondence of each of these. This means that each process is subservient to other. You start from Human resource Planning and there is a continual value addition at each step. To exemplify, the PMS (performance Management System) of an organization like Infosys would different from an organization like Walmart. Lets study each process separately. Human Resource Planning: Generally, we consider Human Resource Planning as the process of people forecasting. Right but incomplete! It also involves the processes of Evaluation, Promotion and Layoff. Recruitment: It aims at attracting applicants that match a certain Job criteria. Selection: The next level of filtration...
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...Incentive Pay HR Management Foundations December 14, 2014 Determining Incentive Pay All organizations and companies have a pay structure. This pay structure is often very rigid and dependent upon many factors. This pay scale is something that applies to all employees and helps dictate base pay and any future raises. While this pay scale is not adjustable, setting performance-related pay is often at the discretion of the company. This is called incentive pay (Noe, 2011). Often, incentive pay is tied to performance or other metrics set by the company. In general, incentive pay is a way to bolster employee production while helping the company meet profit goals. However, the incentive pay must comply with HR policies and standards. According to Noe (2014), a study of 150 companies and organizations revealed that the way a company paid their employees was strongly linked to employee satisfaction and their level of profitability. As mentioned before, incentive pay is monetary compensation beyond the employee’s regular salary. It is often used to energize or direct an employees’ behavior as it is often linked to predetermined behaviors or outcomes (Noe, 2014). Incentive pay can be found as a commission for those in sales, or a bonus for those in other fields. Offering incentive pay can be beneficial to the company for many reasons. Employees are often willing to work harder or find creative ways to problem solve when money is on the line. In addition, incentive...
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...Meeting as contained in the minute book; The Code of Internal Procedures and Conduct for Prevention of Insider Trading in Dealing the Securities of ONGC ; Procedures for Corporate Disclosure; Companies Act, 1956 and Rules framed there under; Listing Agreement & SEBI Guidelines; (B) Matters pertaining to Finance & Accounts Accounting Policies; Accounting standards; Accounting Manual; Delegation of Powers; Internal Audit Manual; (C) Matters pertaining to Works, Contract, Sales, Procurement, Inventory, etc Material Management Manual Delegations of Powers (D) Human Resource matters pertaining to ONGC employees HR Manual INTRODUCTION i) HR Vision, Mission and Objectives ii) HR Parameters iii) Organogram – ONGC iv) Organogram – HR v) Core Values vi) Standard Designations, Levels and Scales of Pay viii) Authorities under BDP and HR issues MANPOWER ACQUISITION Modified...
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...Running head: Compensation Planning 1 Compensation Planning Jonathan Phifer BUS 434 Compensation & Benefits Management Instructor Justin Furlong July 8, 2013 Compensation Planning 2 Compensation Planning When HR is designing a strategic compensation plan for and organization there are several key factor to consider which should include criteria for strengthening performance, containing cost, limiting liability, and promoting fair pay for employees. To ensure long term success and organizations need a compensation package that links organization strategy to good performance and ties it to the labor market. It also must be within legal compliance of the law and provides a sound salary structure pay for the employees. With the collaborative between these components they must be designed in such a way that it will support the organization business strategy which will stand the test of time and allow the organization to be successful. In this paper I am going to identify these key components and while designing a compensation plan for Holland Enterprises to allow the organization to be successful in the market place. The global market over the last two decades has placed greater stress on organizations regarding their ability to be competitive and profitable...
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