StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Investing in people by wayne cascio - Term Paper Example

Comments (0) Cite this document
Summary
Investing in People [ your name ] [ course name / number ] [Publish Date] Human resources (HR) is pivotal to organizational success and is increasingly being considered as a strategic partner of the organizational system (Lockwood, 2006). The quality, availability and productivity of employees determine the productivity levels of an organization and the organization’s ability to meet its outlined goals and objectives…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.6% of users find it useful
Investing in people by wayne cascio
Read TextPreview

Extract of sample "Investing in people by wayne cascio"

Investing in People number Publish Human resources (HR) is pivotal to organizational success and is increasingly being considered as a strategic partner of the organizational system (Lockwood, 2006). The quality, availability and productivity of employees determine the productivity levels of an organization and the organization’s ability to meet its outlined goals and objectives. There is an increasing move to quantify HR performance in aiding the achievement of organizational aims and objectives by utilizing Key Performance Indicators (KPIs) (Lockwood, 2006). In order to quantify the success of the HR program, KPIs are designed to measure how employees add economic value to the organization they work in. Given the varied nature of business operations in the modern economy, it takes repeated iterations in order to develop the right kind of measures that reveal the role of HR planning in adding value to the organization’s processes. This paper will look into employee absenteeism, employee separations and employee hiring effectiveness to determine how KPIs should be applied to measure economic value addition changes to organizational processes. One of the biggest problems faced by organizations is that of employee absenteeism. When an employee is hired by an organization, the intent is to fulfill some processes in order to create economic value for the organization. In this case, absenteeism is seen as employee absence on days that are not covered by the regular employment program as off days. When an employee does not appear for work, the organization has to bear associated costs such as substitution costs to cover the absent employee’s functions and the loss of economic value since the substitute is nowhere as efficient at the absent employee’s job (Cascio & Boudreau, 2008). These costs can be measured by utilizing KPIs to relate them to strategic HR planning. KPIs measuring these costs can reveal how much the organization stands to suffer and if it would be feasible to hire two people for the same job. Alternatively, KPI measurement could allow determining how such absenteeism could be reduced. The organization also stands to lose when employees separate from the organization such that they do not return. This phenomenon also known as employee turnover tends to add costs to the organization’s budget. For example, any employee who leaves needs to be replaced using a complete hiring scheme which requires new investment in the hiring process. In addition, costs may be incurred at employee separation when the employee has to be paid his benefits at leaving. The longer the employee works somewhere, the greater the benefits accrued will be. Hence, when older employees leave an organization, the cost of turnover is greater due to more benefits being paid (Cascio & Boudreau, 2008). Measuring such costs is essential to HR strategic planning as the organization needs to realize what the affordable turnover rate should be. In certain instances, organizations may be willing to accommodate higher turnover, especially if the employees are not that old or if the organization wants massive rehiring for better skilled workers. On the other hand, some organizations may require retaining their workers in order to avoid large costs. The decision to let go and rehire can only be taken when quantifiable and reliable inputs come in from KPIs. The staffing procedure of an organization can be measured for efficacy using measures that gauge the effectiveness of the employee hired. Three effective measures for such success measurement are: ratio of employees in a group who are successful by organizational standards; average standard score of an employee group on a measure of job performance; dollar payoff to the organization for using a specific selection scheme. When an organization augments the quality of the hired employees, the overall economic value addition increases due to the factors listed above. A greater ratio of successful employees in an organization leads to greater chances of the employees meeting organizational aims and objectives and creating economic value. Similarly, higher average standard scores reflect that employees are better attuned to job needs and require fewer inputs to provide better outputs. Lastly, the dollar payoff measurement reveals how much a group of employees adds economic value through its operations. It is obvious that the more efficient the employees, the greater the value addition will be. In conclusion, this paper related HR as a strategic partner to measuring KPIs by looking into how employee absenteeism, employee separation and employee hiring effectiveness can be measured to create greater economic value for the organization. It was clearly shown that KPI measurement allows HR to align itself to organizational aims and objectives with greater ease and precision so that business success is enhanced. References Cascio, W. F., & Boudreau, J. W. (2008). Investing in People: Financial Impact of Human Resource Initiatives. FT Press. Lockwood, N. R. (2006). Maximizing Human Capital: Demonstrating HR Value with KPIs. SHRM Research Quarterly 3 , 1-10. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Investing in people by wayne cascio Term Paper Example | Topics and Well Written Essays - 750 words”, n.d.)
Retrieved from https://studentshare.org/human-resources/1480800-investing-in-people-by-wayne-cascio
(Investing in People by Wayne Cascio Term Paper Example | Topics and Well Written Essays - 750 Words)
https://studentshare.org/human-resources/1480800-investing-in-people-by-wayne-cascio.
“Investing in People by Wayne Cascio Term Paper Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.org/human-resources/1480800-investing-in-people-by-wayne-cascio.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Investing in people by wayne cascio

Inter-Professional Practice for People Using Health

If one carer practices anti-oppressive practice his/her approach would be a client-centered approach. This means all the efforts would be directed to utilize the available resources and expertise to help and support the client to live better. Doing so the social worker needs to work with many other professionals. These kinds of practice are called interprofessional practice. The collaboration and effective team working is involved here. The paper initially discusses the Inter-professional Practice wherein several conditions are discussed where inter-professional practices are involved. It discusses strategy and policy initiatives in this direction. There are various barriers to effective team working that would be discussed next.&...
9 Pages(2250 words)Assignment

Are Social Timing Deficits More Pronounced In People With Atypical Diagnosis Of Autism

It is a severe developmental disorder that affects the way a child sees and interacts with the rest of the world. It limits their ability to interact with others socially and most of the times try to avoid human contact. It is also a part of a large group of disorders called pervasive developmental disorders (PDD) (Autism-PDD.net, 2005).

In 1908, Eugen Bleuler a Swiss psychiatrist coined the word "autism" in schizophrenic patients who screened themselves off and were self-absorbed. Leo Kanner while at Johns Hopkins first identified autism in 1943 when he described 11 self-absorbed children who had following common traits: impairments in social interaction anguish for changes, good memory, belated echolalia, over se...
11 Pages(2750 words)Case Study

Are Disabled People Going To Be Winners Or Losers

This dissertation will, therefore, establish whether the White Paper will bring real benefits to the disabled or whether the concerns of organizations working for the disabled are actually well-founded.

People who are in work have better opportunities to improve their lives and consequently visit their GPs less often. Even their children and partners benefit. It gives many people self-esteem, companionship, and status.

The initial aim, therefore, is to investigate whether the provisions in the White Paper can theoretically deliver these benefits. This will provide an opportunity to identify any loopholes or gaps in the government’s plan.

The second aim is to then consider the objections to th...
6 Pages(1500 words)Dissertation

Health Needs Assessment among Internally Displaced People in Southern Darfur State

In the recent past, Sudan has gone through a very serious humanitarian crisis, rated by as among the worst in the world. This crisis has led to thousands of Sudanese being displaced from their homes. The crisis was a series of civil wars that have characterized the Southern Sudan regions, and quite recently the Darfur region. The conflict in the Darfur region is among the most recent crises in Sudan and has as a result drawn global attention. According to the UN, the Darfur conflict emerged as the worst crisis in the year 2003 as far as humanitarian aspects are concerned (UNEP/OCHA, 2004 pp 6).

So far, the Darfur crisis has led to the internal displacement of more than two million citizens. In the year 2008, the UN esti...
11 Pages(2750 words)Term Paper

People as Cultural Beings and the Christian Posture

In recent times questions regarding the impact of Christianity over culture have become so prevalent that several of the modern intellectual disciplines consider it an archetype of orthodoxy that is aimed at restraining the newer cultural trends (Niebuhr 1956 p. 1-2).
However, the existing historical shreds of evidence clearly convey that despite Christianity has always been one of the most important factors in the context of determining people’s reciprocation towards a particular cultural trend, but different civilizations at different points of time have denied the impact of the Christian culture as those perceived that it can be a threat against individuality of their respective cultural tends, “Not only Jews b...
11 Pages(2750 words)Assignment

People, Organisations and Management

Organizations and their management styles have evolved to a great extent in the service and manufacturing industry over the last century, and so have been the concepts of management and its functions. These evolutions can be traced to significant developments brought about by the industrial revolution, scientific management principles such as Taylorism and Fordism, transition of feudalistic to capitalistic approach and others in different sectors of manufacturing industries. However, the beginning of the industrial revolution was characterized by a rigid hierarchical bureaucratic way of organizing business enterprises, a style prevalent even today but only in military service organizations. Nevertheless, the manufacturing and busi...
8 Pages(2000 words)Assignment

People in Society and Their Problems

Coming to question 4, the average answer from participants is 2.7, which means that they are leaning more towards agreeing that marriage is important for a strong and enduring relationship. 53.4% of males agree with the fact that marriage is important for a strong and enduring relationship while 66.1% of females agree with this question.
Beginning with question 5, 5% of males agree on this question. On the other hand, 50% of women agree. This, therefore, means that more women (45% more) agree on this question compared to men. It may also be a pointer to the sensitive and caring nature of women since more of them believe that they are responsible for their spouses even up to the point of making decisions for them. Question 6 a...
6 Pages(1500 words)Assignment

Various Treatment of Young People in the Criminal Justice System

The ways in which the treatment of young offenders is differentiated from that of adult offenders are also presented using appropriate literature; particular reference is made to the role of Young Offender Institutions (YOI). It is proved that the current criminal justice for young offenders in the UK is not effective, despite the measures taken by the government for securing the rehabilitation of these individuals. On the other hand, the full alignment of the treatment of young offenders with that of the adult offenders, as this practice is in progress in the UK, will not resolve the problems related to the rehabilitation of young offenders. The alteration of the rules of the existing criminal justice system without eliminating t...
7 Pages(1750 words)Coursework

Securing a Legacy for Disabled Young People in East London

Handicap has since a long time ago ruled research in-game and incapacity. Understanding the movement "issues" which the individual has by the goodness of a physical, tactile or intelligent "catastrophe" has been the area of much research that concentrates on inability and game. Subsequently, the estimation of the game for incapacitated individuals has gotten to be perceived as one that fits a restoration methodology to incapacity.
East London has been known to set the phase when it comes to sports concerning the disabled. They have set up numerous Paralympic games that encourage the disabled participants to express their abilities within these games. There are several organizations that have come up to ensure that there is in...
6 Pages(1500 words)Assignment

Managing Activities and People

 A characteristic of this approach is that it employs a systematic, objective, and analytical approach. Additionally, it is based on the economy. Taylor believed that to implement the economy in an organization, it is necessary to eliminate unnecessary elements of production and sufficient effort be made to ensure the achievement of maximum production at the lowest cost (Taylor 2007).
The approach is also characterized by a definite plan that is core before any work is undertaken. When undertaking a project, workers should adhere to the plan. There must also be rules that match the plan for objectives to be achieved. This theory also lays emphasis on all the factors of production, including technology, workers, and mater...
6 Pages(1500 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Term Paper on topic Investing in people by wayne cascio for FREE!

Contact Us