Human resource management has four major functions in business management - Essay Example

Human resource management has four major functions in business management. These functions include jobs and labor, strategic human resource management and EEO, compensation, and training and development. Strategic human resource management and EEO involve the ability of a business to manage the performance of their employees. This includes developing and implementing full process aimed at improving performance. Job and labor involves the process of spotting, interviewing, recruiting, and hiring of top class employees. Employees with high performance play an important role in the success of a business. Compensation refers to the reward that the business offer to their employees for the services they offer to them. This helps in employees’ satisfaction increasing their loyalty thus enhancing their performance. Training and development is the process of improving the skills and experience of employees. This is because it increases the general productivity of the employees. This paper aims at discussing four activities involved in the above functions of human resource management. Job analysis is the process of identifying and determining the particulars of job duties requirements, the significance of the duties to a job. Thus the job analysis should be carried out before employment procedures such as selection, training, performance appraisal, and compensation (Randhawa 43). A statement of work mainly looks into ten subjects. I should have a purpose statement which spells out the purpose of the project. There should a scope of work which describes work to be done the resources needed. The work statement should have a location of work which describes the geographical location where the work is to be undertaken. The work statement should have a period of performance to show the amount of time allocated for this project. There should be a deliverable schedule which show which part of the project should be complete by what time. The statement should have an acceptance criterion which usually specifies how receiver or buyer of commodities will determine the acceptability of the product. There is a special requirement which states any special resource that would be needed during the job. The statement should also have a payment schedule which allows for nature of payment terms in good time. Finally it should have miscellaneous which will cater for any requirement that might have been overlooked. The compensation that a business offers to their employees can act as an attraction factor to high quality employees in terms of skills, experience, and talent. This is likely to positively impact the productivity and competitiveness of a business. Compensation can also affect employees’ motivation and job satisfaction. It will also enable a company to retain the top classified employees that they already have (Randhawa 239). These entire factors will add to the productivity of a business. A good compensation system would have both internal and external equity, a purpose of compensation, be based on accurate data and information, be based on the job description, and have more than financial value. The interviewing process is very essential in the equipment and hiring of new employees. There are two types of interviews namely; structured interview and unstructured interview. The structured interview follows a certain set of questions in a method preferred by the human resource department whereas the unstructured interview does not follow any format (Randhawa 99). Structured interviews are better because they promote consistency and fairness. Structured interview also have a question that is straight forward thus enabling easy control of the conversation flow. For an interviewee preparation for an interview will help them have confidence during the interview. This can be facilitated by researching about the company. Preparation is also likely to help the interviewee to create a perfect first impression. This is because they will be able to working on their physical appearance and appropriate communication skills. Preparation will also enable the interviewee to get to the interview location in good time. For interviewers, preparation helps them in being familiarized with nature of the post being interviewed for and the details on the qualification that they should observe during the interview. This way they will go for the interview with the knowledge of the exact qualities they are looking for. One of the most common characteristics interview questions is that they have specific purposes. Incentives are always used to motivate employees. Incentives are majorly categorized into financial and non-financial incentives. Financial incentives include reward, premium, bonus and salaries. Nonfinancial incentives include job security, job satisfaction, respect and recognition, training, housing, medical, and educational facilities. Financial incentives can be beneficial to employees it gives them an extra income which will definitely improve their financial worth (Randhawa 220). Financial incentive can also be a way of expressing esteem to the employees. This will make them feel appreciated and is most likely to make them work hard. Financial incentives can also increase the probability of a personnel remaining in the company. This way the company will be able to maintain the knowledge and experience base. However, the use of financial incentives has various disadvantages. Some of these rewards are inconsistence thus the performance of the company might be affected during a period when they are not here. Such rewards include commissions and bonuses. Since most financial rewards are always given to individual, teamwork amongst employees might be negatively affected by such rewards. The fact that financial incentives focus on employees who show extra effort, they might to burnout lowering the productivity of the employees. Nonfinancial incentive plays a big role in setting behavioral standards in an organization. They have an immediate impact on the performance of a company. They also increase the public credibility of an organization due to aspects like job satisfaction and job security. Despite these advantages, non-financial incentives have various shortcomings. This kind of awarding scheme is vulnerable to the fraudulent nomination because it complexly depends on the honesty of the employer and employees. Maintaining the momentum in a non-financial warding scheme is a hard task. Nonfinancial incentives have proven to be more effective because they enhance job satisfaction and job security. They also do not interfere with productivity because they have no negative effect on teamwork and do not cause burnouts. Work Cited Randhawa, Gurpreet. Human Resource Management. New Delhi: Atlantic Publishers & Distributors, 2007. Print. Read More