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Human Resources

Workers Compensation Law Discussion

Human Resources

Postby Faing » Fri Dec 02, 2016 7:58 am

1) Define strategic planning. What steps are required to be taken to effectively plan the Human resource within the organization?

2)Describe different ways in which organizations undertake effective recruitment activities to gain competitive advantage.

3)What problems are associated with the design of compensation package for expatriates?
Faing
 
Posts: 44
Joined: Sat Feb 01, 2014 1:04 am

Human Resources

Postby Alin » Sat Dec 03, 2016 9:26 am

AMAR,

HERE  IS SOME  USEFUL MATERIAL.

REGARDS

LEO LINGHAM

=================================================

1) Define strategic planning. What steps are required to be taken to effectively plan the Human resource within the organization? Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue ITS OBJECTIVES.

There are 5 key questions that must be asked and answered

1. What is the thrust of focus for future business

development ?

2. What is the scope of products and markets that will and

will not be considered?

3. What is the future emphasis or priority and mix for

products and markets that fall within that scope?

4. What key capabilities are required to make this strategy

happen?

5. What does this strategy imply for growth and return

expectations?

These questions require:

* Analysis

* Discussion

* judgement

* Illustration

* Decision

External Analysis

1.Customer Analysis

Segments

Motivations

Unmet Needs

2.Competitor Analysis

Identify

Performance

Image

Objectives

Strategies

Strengths

Weaknesses

3.Market Analysis

Size

Projected Growth

Entry Barriers

Distribution System

Trends

Key Success factors

4.Environmental Analysis

Technology

Government Regulations

Economic Trend   I

A.Opportunities

B.Threats

C. Trends   

D. Others

Customer/Market Segment Analysis

SEGMENTATION

Biggest Customers/Market Segments

Profitable ones/Attractive Potential

Needs

Buying Characteristics

CONSIDER THE VARIABLES

1) Benefits sought

2) Usagelevel

3) Application

4) Organisational type

5) Geographic location

6) Customer loyalty

7) Price sensitivity

8) Competition

MOTIVATION

What elements of the product/service do the Customers/segments value most? What

are their objectives? What are they really buying? What are their priorities? What

changes are taking place?

UNMET NEEDS

Why are some customers/segments dissatisfied? Why are some changing brands or

suppliers? What are some unmet needs they can identify? What are some unmet needs

they are unaware of?

Competition Analysis

WHO ARE THE COMPETITORS?

• Against whom do we usually compete?

• Who are our most intense competitors?

• Who are our less intense but still serious competitors?

• What are the substitute products?

• Can these competitors be grouped on the basis of their products or strategies?

• Are there any potential competitive entrants?

EVALUATING THE COMPETITORS

• What are their strategies? Their level of commitment?

Do they have a significant advantage or disadvantage?

• What is their image/positioning strategy?

• Which are the most successful/unsuccessful competitors? Why?

• What are their strengths/weaknesses?

• What are their leverage points?

Structure of the Segment/Customer

1. SIZE AND GROWTH

• What are their size and growth characteristics?

• What are the driving forces behind their sales trends?

2. POTENTIAL AND PROFITABILITY

• How intense is the competition among existing suppliers?

• What is the threat from potential entrants?

• What is the bargaining power of suppliers?

• What is the bargaining power of buyers?

• How difficult is selling into these accounts or segments?

3. PRICE

• What are the value added components for various types of competitors?

4. DISTRIBUTION

• What are the alternative ways of servicing this segment or account?

5. TRENDS

• What are the trends in this segment/customer?

6. KEY SUCCESS FACTORS

• What are the key success factors needed to compete successfully?

Environmental Analysis

1. TECHNOLOGY

•What technological development or trends are affecting or could affect the

segment/customer?

•To what extent are existing technologies maturing?

2. GOVERNMENT

•What changes in regulations are possible?

•What will their impact be?

3. ECONOMICS

•What are economic prospects and inflation in which the segment/customer

operates?

•How will they affect strategy?

4. GENERAL TRENDS

•What are the significant trends/future events?

•What threats and opportunities do you see?

•What are the areas of uncertainty?

•What is the impact of these on your strategy?

Internal Analysis

1. Performance Analysis

• Sales

• Profitability

• Product Quality

• Customer Satisfaction

• Cost

• Product Performance

2. Determinants of Strategic Options

• Past Strategy

• Current Strategy

• Strategic Problems

• Organisational capabilities and Constraints

• Strengths

• Weaknesses

A. Strengths B. Weaknesses

C. Problems   

D. Constraints

E. Others

OPPORTUNITIES

What to look for

New Market Segments New Customer More

sales in the current customers New end ? uses

New / modified products New geographical

locations Displacing competition Others:

THREATS

What to look f or

Competition

Declining Market

Reduction in the No.s of customers

Others

UNCERTAINTIES

What to look for

Demand

Legislation

Availability

• Technical Development(Product)

• Financial Resource

• Pricing / G.P.

• Customer Satisfaction / Buying Policies

• Others

OBSTACLES

What to look for

Sales Representation

Production /Raw Materials

Sourcing

Distribution

Inadequate Promotion Support

• Inventory

• Customer Service

• Others

Sustainable Competitive Advantage, What are they?

1 . Reputation

2. Quality

3. Customer Service

4. Product Support

5. Product?line depth?

6. Product?line breadth?

7. Technical superiority

8. Customer base

9. Market share

10. Size

11. Distribution

12. Adaptable operation

13. Sales force network

14. Powerful well?known parent company

15. Good engineering

16. Distributor support

17. Customer oriented

18. Continued product innovation

19. Product convenience

20. Financial package

===========================================

STEPS   TO  HR  PLANNING

IS  A  process by which an organisation ensures that it has the right number & kind of people at the right place and at the right time, capable of effectively and efficiently completing those tasks that help the organisation achieve its overall objectives..

Importance  of  HR  PLANNING 1)   Each Organisation needs personnel with necessary qualifications, skills, knowledge, experience & aptitude . 2)   Need for Replacement of Personnel -  Replacing old, retired or disabled personnel. 3)   Meet manpower shortages due to labour turnover 4)   Meet needs of expansion / downsizing programmes 5)   Cater to Future Personnel Needs 6)   Nature of present workforce in relation with Changing Environment - helps to cope with changes in competitive forces, markets, technology, products and government regulations.      Shift in demand from ERP to internet programming has increased internet programmers .

HOW   HR  PLANNING   COULD BE  USED

i)  quantify job for producing product / service    

ii) quantify people & positions required

ii) determine future staff-mix

iii) assess staffing levels to avoid unnecessary costs

iv) reduce delays in procuring staff

v) prevent shortage / excess of staff vi) comply with legal requirements

-------------------------------------------------------------

Human resource planning is the process of anticipating and

carrying out the movement of people into, within, and out of

the organization. Human resources planning is done to achieve

the optimum use of human resources and to have the correct

number and types of employees needed to meet organizational

goals.

Thus, it is a double-edged weapon. If used properly, it leads

not only to proper utilization, but also reduces excessive labor

turnover and high absenteeism, and improves productivity.

It can also be defined as the task of assessing and anticipating

the skill, knowledge and labor time requirements of the

organization, and initiating action to fulfill or ‘source” those

requirements. Thus, if the organization as a whole or one of its

subsystem is not performing to the benchmark, in other words,

it is declining, it may need to plan a reduction or redeploys its

existing labor force.

On the other hand, if it is growing or diversifying, it might

need to find and tap into a source of suitably skilled labor .

That is why; we need to plan in advance even for procuring

human resources, which in contrast to a general myth are not

abundant!! Thus, in the same line, we propose that organization

can achieve its goals effective through effective contingencies

of all the HR functions; for example, the structure of an

organization and the design of the job within it affect an

organization’s ability to achieve only through the efforts of

people. It is essential therefore, those jobs within the organization

be staffed with the personnel who are qualified to perform

them. Meeting these staffing needs requires effective planning

for human resources

HENCE  “HR  planning is the process –

including forecasting, developing and controlling by which a

firm ensures that it has-

· The right number of people,

· The right kind of people,

· At the right places,

· At the right time, doing work for which they are

economically most useful”.

=====================================================

Why has HR planning increased in importance.

BECAUSE  OF  

-globalization

-economic  growth

-demand  for  skilled  workers

-mobility  of  workers

-need  for  productivity  improvements

-need  for   efficient  growth

-diversity  in  workforce

-forward  planning  of  resorces

-provides   a  planned  hr resources

-controls   wastage.

etc etc

WHY  HRP  IS  SO  IMPORTANT  TO  BUSINESS/ ORGANIZATIONS

**Forecasting future manpower requirements, where we

use mathematical projections  to project trends in the economic environment and development of the industry. **Making an inventory of present manpower resources

and assessing the extent to which these resources are

employed optimally.

** Procuring competent personnel

requires positive recruitment efforts and the development

of a variety of recruitment sources. These sources must

consider not only the nature and conditions of the external

labor market, but also the presence of qualified personnel

who are available to fill vacancies through internal

promotions or transfers.

Keep in mind the recruitment activities is integrated with

diversity and equal employment opportunity initiatives.

Staffing needs must be anticipated sufficiently in advance to

permit the recruitment and development of fully qualified

personnel.

**Anticipating manpower problems by projecting

present resources into the future and comparing them

with the forecast of requirements to determine their

adequacy, both quantitatively and qualitatively; **Planning the necessary programmes of requirement,

selection, training, development, utilization, transfer,

promotion, motivation and compensation to ensure that

future manpower requirements are properly met.

**It’s a systematic approach. because it ensures a

continuous and proper staffing. It avoids or checks on

occupational imbalances(shortage or surplus) occurring in

any of the department of the organization.

**There is a visible continuity in the process. **There is a certain degree of flexibility. That is, it is subject

to modifications according to needs of the organization or

the changing circumstances. Manpower plans can be done

at micro or the macro levels depending upon various

environmental factors.

“ HRP is a kind of risk management. It involves realistically

appraising the present and anticipating the future(as far as

possible) in order to get the right people into right jobs at the

right time”. **Ensures optimum use of man(woman, too nowadays?)

power and capitalize on the strength of HR. The

organization can have a reservoir of talent at any point of

time. People skills are readily available to carry out the

assigned tasks, if the information is collected and arranged

beforehand.

**Forecast future requirements(this is done by keeping track

of the employee turnover.) and provides control measures

about availability of HR labor time. If, for example the

organization wants to expand its scale of operations, it can

go ahead easily. Advance planning ensures a continuous

supply of people with requisite skills who can handle

challenging jobs easily.

**Help determine recruitment/induction levels. **To anticipate redundancies/surpluses/obsolescence.

**To determine training levels and works as a foundation for

management development programmes

**Planning facilitates preparation of an appropriate manpower

budget for each department or division. This, in turn, helps in

controlling manpower costs by avoiding shortages/excesses in

manpower supply.

===========================================

REGULAR  HR  PLANNING

HR PLANNING     TAKES   INTO  CONSIDERATION

1.Corporate  VISION

2. Corporate  Mission

3. Corporate  Objective

4. Corporate  Strategy

5.Corporate  Organization  Policy/ Budget  Guidelines.

6. Corporate  HR  objective/ strategy

7. Corporate  Industrial  Relations   Policy

8. Corporate  Sales  forecasts  

9. Corporate  Product  Plans   

10. Corporate  Production forecasts. HR    Planning  includes

CURRENT  SITUATION/ ANALYSIS  OF  COMPANY  HR

1.Assessment / Audit  of  the  current  manpower  profile

-numbers

-skills

-ages

-flexibility

-sex

-experience

-capabilities

-character

-potential

and  also

-normal turnover,

-staff  movements  planned

-retirements

-succession planning

etc.

2. KEY  SUCCESS FACTORS  OF HR

3. HR [ SWOT ]  ANALYSIS

-STRENGTHS

-WEAKNESSES

-THREATS

-WEAKNESSES

4. HR  MARKET  [ DEMAND/SUPPLY]    -SKILL   AVAILABILITY

5.HR  OBJECTIVES

6.HR  STRATEGY

7. HR  PLANNING

These  include -Recruitment/ Selection  PLAN

-Induction / Orientation PLAN

-Training  / Developement  PLAN

-Compensation  PLAN

-Salary  administration  PLAN

-Payroll  Administration  PLAN

-Performance  Appraisal  PLAN

-Performance  Management  PLAN

-Industrial  Relations  PLAN

-Promotions  PLAN [ IF  ANY ]

-Terminations  PLAN

-Transfers  PLAN

-Staff  amenities. PLAN

-retraining  plan

-early retirement  plan

-redundancy  plan

-changes in  workforce utilization  plan

-career  path  plan

-succession  plan.

-personnel  and  career  plans

==================================================

#####################################################

2)Describe different ways in which organizations undertake effective recruitment activities to gain competitive advantage.

THE VARIOUS  METHODS  OF   RECRUITMENT

A manager can recruit in two different ways:

1.Internal recruitment is when the business looks to fill the vacancy from within its existing workforce. ADVANTAGES

-Cheaper and quicker to recruit -People already familiar with the business and how it operates -Provides opportunities for promotion with in the business – can be motivating -Business already knows the strengths and weaknesses of candidates ----------------------------------------------------------------------

DISADVANTAGES

-Limits the number of potential applicants -No new ideas can be introduced from outside the business

-May cause resentment amongst candidates not appointed -Creates another vacancy which needs to be filled ================================================

The four most popular ways of recruiting  internally  are: 1.WORD  OF  MOUTH.

2.INTERNAL   REFERRALS.

3.INTERNAL   CIRCULARS/ NEWLETTERS.

4.INTRANET.

==================================================

2.External recruitment is when the business looks to fill the vacancy from any suitable applicant outside the business.

ADVANTAGES

-Outside people bring in new ideas -Larger pool of workers from which to find the best candidate -People have a wider range of experience -----------------------------------------------------------------------

DISADVANTAGES

-Longer process -More expensive process due to advertisements and interviews required -Selection process may not be effective enough to reveal the best candidate ===================================================

The four most popular ways of recruiting externally are: Job centres - These are paid for by the government and are responsible for helping the unemployed find jobs or get training. They also provide a service for businesses needing to advertise a vacancy and are generally free to use.

Job advertisements - Advertisements are the most common form of external recruitment. They can be found in many places(local and national newspapers, notice boards, recruitment fairs) and should include some important information relating to the job(job title, pay package, location, job description, how to apply-either by CV or application form). Where a business chooses to advertise will depend on the cost of advertising and the coverage needed(i.e. how far away people will consider applying for the job

Recruitment agency - Provides employers with details of suitable candidates for a vacancy and can sometimes be referred to as ‘head-hunters’. They work for a fee and often specialise in particular employment areas e.g. nursing, financial services, teacher recruitment

Personal recommendation - Often referred to as ‘word of mouth’ and can be a recommendation from a colleague at work. A full assessment of the candidate is still needed however but potentially it saves on advertising cost.

======================================================

FACTORS   THAT  AFFECT    RECRUITMENT/ SELECTION

1.LABOR MARKET  SUPPLY  / DEMAND

2.TECHNOLOGICAL  DEVELOPMENTS

3.APPLICANTS  PERCEPTIONS OF  SELECTION PROCESS

4.CONTRUCT  DRIVEN  APPROACH

5.GLOBALIZATION 6.SOCIAL  TRENDS

7.ORGANIZATION  WORK  CHANGES

ETC ETC.

RECRUITMENT   METHODS

1. E-recruitment

2. E-assessment

3.online recruitment and testing

4. Internet selection

5. The Internet, web-based testing, 6. integration of selection into human resource information systems

7. video-based tests 8. Competency-based selection

9. competency–based interviewing

10. competencies

11. competency management

12. competency-based assessment and development

. 13. job marketing

14. human resource marketing 15. employer brand marketing  

16. USE   of  Emotional intelligence in the  selection  process  

17. International selection  PROCESS

18.expatriate selection  PROCESS, 19. global   SELCTION  PROCESS 20. Specialisation of recruitment  consultancy firms

21. OUTSOURCING  OF RECRUITMENT

22.Use of multimedia. Increasingly, psychological tests and inventories are administered via computers

23.Multimedia tests, short videotaped work-related situations, which usually involve interactions with other people(e.g., customers, colleagues, and supervisor), are presented to candidates. The situation usually ‘freezes’ at an important moment, and candidates are asked to indicate how they would act if this were a real situation. Besides the insertion of audio and video, another important advantage of multimedia tests is that branching is possible. This means that the scene presented is contingent upon a candidate’s #####################################################################

3)What problems are associated with the design of compensation package for expatriates?

TO  DEVELOPMENT  A   COMPENSATION   STRATEGY FOR  ANY ORGANIZATION,  YOU  NEED

-to review  the  company  vision goal.

-to review  the  company  mission  statement.

-to  review  the  corporate  objectives

-to  review  the  corporate  strategies

-to   review  the  organization  structure

-to review  the management  process

-to review  the  HR OBJECTIVES

-to  review  the  HR  STRATEGIES

-to  review  the  current   market  rates  for  similar business.

-Demand and  Supply  of  human talent

-Organization  values

-Market  Rates

-Industry Trends

-Performance  Related

-Flexibility / responding  to  changes.

-Motivation  oriented

-Work related

-Productivity  based

-Budget  factor

-Competence  based

-Contribution  factor

-Organization grade structure

-Job  evaluation  [ relative size of  jobs ]

-Non financial  benefits

-Employee benefits.

-Internal  job value.

-External job value.

-Perceived  value  of  an employee at a given time.

-Affordability.

-Trade Union  factor.

etc.

Any  combination  of factors  would  be  applicable  in a  given

period  of  time. PLUS

THE  JOB  DESCRIPTIONS  OF  EACH   LEVELS establishes measures to rank Know-how, Problem Solving, Accountability, and Working Conditions: Know-how    includes sub categories to evaluate technical know-how, managerial know-how, and human resources know-how.       

Problem Solving    Includes sub-categories dealing with the thinking environment and the thinking challenge required of a job.       

Accountability    Measures three factors – freedom to act, magnitude of the decision-making, and impact of the decision-making.       

Working Conditions    Measures four elements – the physical environment, physical effort, sensory attention, and mental stress.     

==========================================

NOW,   CONSIDER    THE  FOLLOWING  FOR  THE  EXPATRIATES   BEFORE  DEVELOPING   THE  COMPENSATION  STRATEGY

Employee Inputs and Preferences

• Perceptions of external pay equity

• Perceptions of internal pay equity

• Pay delivery beliefs

— Form(cash, gainsharing, benefits)

— Method(individual, small group, large group)

• Risk tolerance

• Trust in management

-----------------------------------------------

o Business and Operating Inputs

• Operations and Manufacturing strategy

• Sales development strategy

• Percentage of compensation costs to total product/

service costs

• Percentage of compensation costs to controllable

product/service cost

• Existing markets/products

• Potential markets/products

• Anticipated volume

• Reinforce/enhance work design

• Maintain cultural change processes

• Other operating issues

----------------------------------------------------

o Industry and Labor Market Practices

and Trends

• Availability and quality of work force

• Industry practices

• Retention of work force

• Retention of key contributors

• Wage/salary levels and movement

• Wage/salary delivery charges

-----------------------------------------------------------------

o Compensation Philosophy and Objectives

• How much emphasis should be placed on rewards to

drive organization

• What issues are to be driven by compensation as

opposed to management practices

• Market definition(exempt and non-exempt)

• Method of delivery

• Targeted position in labor market

• Targeted position in product market

• Relationship within total company

• Relationship to selection and retention

• Portion of pay guaranteed and at risk

• Percentage of workforce bonus eligible

--------------------------------------------------------------------

Base Pay Delivery

• Method of delivery — Job-based vs. individual-based

• Number of levels

• Structure of levels

• Pricing strategies

• Adjustment method

• Weighting of individual performance

--------------------------------------------------------------

o Organization Performance or Variable Pay

• Role in total compensation strategy

• Structure

• Measures

• Targets

• Tolerance for pay at risk

• Risk - reward ratios

• Use of other monetary rewards

• Use of non-monetary rewards

• Individual performance recognition

-------------------------------------------------------------

o Fringe Benefits

• Usually determined at corporate level; limited scope at

other levels

• Tie to business and human resource objectives

• Coverage

• Cost

• Communications(Purpose - Coverage - Value)

--------------------------------------------------------------

o Compensation Administration

• Stakeholder role in compensation administration

• Performance management & evaluation

• Overtime policy(exempt & non-exempt)

• Shift differentials

• Attendance policynce

• Role of seniority

=====================

Compensation

Compensation is not the cut-and-dry subject it used to be. Once you had to worry only about an employee's base salary or, at most, a base salary and commission. Today, you need to think in terms of compensation packages - including salaries, stock options, employee stock ownership plans, pay-for-performance plans, bonuses, profit sharing, commissions, noncash rewards, variable pay, and much more.

Attribute it to what you will - the Silicon Valley effect, a boom economy, unparalleled competition for skilled workers, the increasing value of IPOs and stock options - but there's no question that compensation has become a more complicated and strategic issue for employers. To recruit, retain, and motivate the best employees, you need to understand compensation and reward plans and how they relate to your company's growth.

------------------------------------------------------------------------

CONSIDER   THE  FOLLOWING

Compensation as Motivation

Paying for Performance Bonuses are back. Be sure to get the most for your money. The Power of Base Pay A compensation expert explains how to improve your compensation strategy by developing an effective, market-driven base pay system. Pay for Performance -- and Nothing Else Employment relationships are transactional by nature. Today's transactions are fast moving, short-term and fully exposed, as free agents negotiate with managers for project and contract work. ---------------------------------------------------------------------------------------

FACTORS, YOU  MAY  WANT  TO CONSIDER  WHILE  DEVELOPING   YOUR

Compensation Strategy

Recruiting Top Talent, One by One This CEO tweaked her company's compensation package over time to attract key managers. Wage Wars An employee who makes $35,000 a year may be happy as a clam with his compensation until he learns that Frank in the cube next door makes $40,000. Three rules for handling the delicate subject of employee salary information. Shifting Workplace Values Alter Pay Strategies Incentive compensation is becoming the norm, and salary increases seem to pattern economic performance. Kill the Commissions The case for dropping individual commissions. The Right Way to Pay After decades of paying employees in the same old way, cutting-edge CEOs are solving their worst compensation problems by adding one critical factor: risk. Employee Ownership

The Ultimate Employee Buy-in Sell the company to your employees? It's a great idea--both for you and for the business you're leaving behind. Granting Options Like It's 1999 New rules do little to dampen private companies' use of stock options. Retiring Minds In today's tough market, selling stock to employees may be the smartest path to an exit strategy. CEO's Notebook: Stock Options & Equity Tips and resources on offering stock options, sharing equity, teaching employees about their stock, and discouraging them from selling stock to start their own businesses. ESOPs or Stock Options: Which Will Work for Your Company? If you're contemplating this frequently asked question, here are some definitions, scenarios, pros and cons, and words of wisdom. When Employees Share Stock Pain, Not Gain Sure, stock options are a great recruiting tool, but are you prepared to deal with employee reaction if your company's stock price takes a dive? Know Your Options Deciding which stock option program is best for your business can be tricky. What you need to know when structuring an employee stock ownership plan. Motherhood, Apple Pie & Stock Options Although stock options are widely used to attract quality employees, they can have negative effects if employees misunderstand them or they're issued irresponsibly Sizing Up Your Salaries

Are You Paying Yourself Enough? You're getting by on a paltry salary because that's what's best for your company. Or is it? An owner's low pay can send the wrong message -- to investors and employees. Here's how to pick the magic number. Plus: What other CEOs take home. Are You Cheating Your Employees? Litigation from wage-and-hour disputes is skyrocketing. And you may be breaking the law without even knowing it. Payday Four sites to turn to when you want to benchmark your salary structure. The Unkindest Cut of All How one company's founders have gone about cutting their own pay to help their business stay afloat. What's Hot: Sales Compensation A guide to books and Web sites devoted to helping you design a compensation plan for your sales staff. The Executive Pay Game, 1999 Here are some executive salary and bonus ranges against which to benchmark your company's salaries. Board Pay: Five Hot Trends The way boards pay their members is changing as fast as the duties they perform What's Fair Pay for Your CEO? Pondering just how much to compensate your CEO? Find out how to come up with realistic benchmarks for executive pay. Executive Compensation May Need a Boost One study indicates that executive pay hasn't kept pace with other compensation. ===============================================================

Compensation: Development of Salary Administration Plan Develop a program outline. Set an objective for the program. Establish target dates for implementation and completion. Determine a budget. Designate an individual to oversee designing the compensation program. Determine whether this position will be permanent or temporary. Determine who will oversee the program once it is established. Determine the cost of going outside versus looking inside. Determine the cost of a consultant's review. Develop a compensation philosophy. Form a compensation committee(presumably consisting of officers or at least including one officer of the company). Decide what, if any, differences should exist in pay structures for executives, professional employees, sales employees, and so on(e.g., hourly versus salaried rates, incentive-based versus noncontingent pay). Determine whether the company should set salaries at, above, or below market. Decide the extent to which employee benefits should replace or supplement cash compensation. Conduct a job analysis of all positions. Conduct a general task analysis by major departments. What tasks must be accomplished by whom? Get input from senior vice presidents of marketing, finance, sales, administration, production, and other appropriate departments to determine the organizational structure and primary functions of each. Interview department managers and key employees, as necessary, to determine their specific job functions. Decide which job classifications should be exempt and which should be nonexempt. Develop model job descriptions for exempt and nonexempt positions and distribute the models to incumbents for review and comment; adjust job descriptions if necessary. Develop a final draft of job descriptions. Meet with department managers, as necessary, to review job descriptions. Finalize and document all job descriptions. Evaluate jobs. Rank the jobs within each senior vice president's and manager's department, and then rank jobs between and among departments. Verify ranking by comparing it to industry market data concerning the ranking, and adjust if necessary. Prepare a matrix organizational review. On the basis of required tasks and forecasted business plans, develop a matrix of jobs crossing lines and departments. Compare the matrix with data from both the company structure and the industrywide market. Prepare flow charts of all ranks for each department for ease of interpretation and assessment. Present data and charts to the compensation committee for review and adjustment. Determine grades. Establish the number of levels - senior, junior, intermediate, and beginner - for each job family and assign a grade to each level. Determine the number of pay grades, or monetary range of a position at a particular level, within each department. Establish grade pricing and salary range. Establish benchmark(key) jobs. Review the market price of benchmark jobs within the industry. Establish a trend line in accordance with company philosophy(i.e., where the company wants to be in relation to salary ranges in the industry). Determine an appropriate salary structure. Determine the difference between each salary step. Determine a minimum and a maximum percent spread. Slot the remaining jobs. Review job descriptions. Verify the purpose, necessity, or other reasons for maintaining a position. Meet with the compensation committee for review, adjustments, and approval. Develop a salary administration policy. Develop and document the general company policy. Develop and document specific policies for selected groups. Develop and document a strategy for merit raises and other pay increases, such as cost-of-living adjustments, bonuses, annual reviews, and promotions. Develop and document procedures to justify the policy(e.g., performance appraisal forms, a merit raise schedule). Meet with the compensation committee for review, adjustments, and approval. Obtain top executives' approval of the basic salary program. Develop and present cost impact studies that project the expense of bringing the present staff up to the proposed levels. Present data to the compensation committee for review, adjustment, and approval. Present data to the executive operating committee(senior managers and officers) for review and approval. Communicate the final program to employees and managers. Present the plan to the compensation committee for feedback, adjustments, review, and approval. Make a presentation to executive staff managers for approval or change, and incorporate necessary changes. Develop a plan for communicating the new program to employees, using slide shows or movies, literature, handouts, etc. Make presentations to managers and employees. Implement the program. Design and develop detailed systems, procedures, and forms. Work with HR information systems staff to establish effective implementation procedures, to develop appropriate data input forms, and to create effective monitoring reports for senior managers. Have the necessary forms printed. Develop and determine format specifications for all reports. Execute test runs on the human resources information system. Execute the program. Monitor the program. Monitor feedback from managers. Make changes where necessary. Find flaws or problems in the program and adjust or modify where necessary. Compensation Strategy

Toward Achievement of Organizational Goals

To be successful, employers must continually improve employee productivity and performance, consistent with budgetary parameters. Having an effective compensation strategy enables you to: • Attract & keep valuable employees

• Assure fair & internally equitable pay levels. • Utilize financial incentives to motivate performance improvement

• Optimally manage compensation costs

• Comply with applicable statutory requirements

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Alin
 
Posts: 67
Joined: Sun Feb 02, 2014 11:55 pm

Human Resources

Postby Vaughn » Sun Dec 04, 2016 3:38 am

1) Define strategic planning. What steps are required to be taken to effectively plan the Human resource within the organization?

2)Describe different ways in which organizations undertake effective recruitment activities to gain competitive advantage.

3)What problems are associated with the design of compensation package for expatriates?
Vaughn
 
Posts: 37
Joined: Sun Mar 16, 2014 1:32 am


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