Human Resource Career - Term Paper Example

Human Resource Career The ambition to work in a well known organisation is a dream of every professional and I desire to work in Microsoft Inc. This because Microsoft is the biggest company according to me in matter of fame and success .I had always looked upon Microsoft for its adventurous business ventures and popularity. I desire to work as a human resource co – coordinator in Microsoft Inc. Because, this is the best professional platform I can get as a human resource candidate. I am pursuing my education in human resource management and I want to use the best of my knowledge and skill in acquiring this position. As per (Sanburn, 2011 ) “Microsoft, The information technology and software behemoth topped the institute’s list as the multinational corporation that keeps its employees the happiest”. As a human resource co – coordinator, I would look forward to a comprehensive compensation package which can attract skilled employees in the market. ( Thesis). Working in Microsoft as a human resource co – coordinator would come with a large responsibility and obligation. I would be in charge of formulating policies and plans in a partial way and this needs much knowledge about human resource managerial principles. A human resource department has the entire responsibility of managing and rewarding the employees. Some of the core responsibilities of human resource department are to recruit, train, compensate and evaluate the employees on a long term basis. Any company needs a good compensation plan as employees need to be motivated to get the best out of them. What is a good compensation package? A compensation package has a key role to play in attracting the right worker to an organisation. Microsoft being a top most company in the world needs the best people in the job market. For this, the company needs to have a comprehensive and well planned compensation package. Creating a good compensation package means finding a balance. Employees in a new job look forward to the compensation package as they wanted to be rewarded well for their skill, knowledge and experience. Formulating a compensation package is not a simple as it needs to be competitive to attract best employees around. A compensation package should have adequate incentive to motive employees to perform at their best. The compensation package includes basic salary, commission, incentives, bonus , medical insurance and other facilities. As per (Enterpreneur,2014 ) “Employers of choice provide a comprehensive employee benefits package to attract and retain employees. In addition to a competitive salary, an employee benefits package is a standard – and expected - part of an employee total compensation package”. Being a multinational company with large workforce, Microsoft needs to look at many factors to offer a best compensation package. The compensation package needs to attract and retain employee on a long term basis. Only a content employee can offer the best to the company. But the company need to make sure that their resource permits such extensive compensation package. Reward and Compensation package for the position Human resource is a department which needs the best employees and hence it needs a comprehensive and attractive compensation package. Human resource is a stressful job where professional need to put time and energy to improve organisational management. Compensation Program Current Base Pay – $80,000 per Annum ( Approximately$ 25 /day ) Incentive compensation – Cash incentive would be given 3% base salary if performance is related to business success. Bonuses – 5 % of salary will be paid as bonus on outstanding performance appraisal Paid time off- The paid time off would include 8 days of sick leave, 12 paid holidays and 3 weeks paid vacation. Over time- On every over time the employee has worked he will given the $30 per hour. Reward program Salary Increase – upon the completion of 2 year of successful working in the company you will give 5% increase based on the current salary. Awards – On extraordinary performance the employee will be given certificates and momentums to honour them. Promotion – An employee with 3 consecutive certificates for excellent performance will be given promotion as he deserves. Club membership- In case you get promoted you will invite as club member of our company. Sport Awards- Employees are eligible for sport awards and promotion on basis of sports performance. Fitness priority – All employees in managerial level has access to the companies’ health club and sports arena. Now this compensation package has a basic salary of $ 80,000 which is quite advantageous for a person working in a renowned company like Microsoft. Apart from this as a human resource coordinator, I would get incentive which is at a good proportion rate and bonus at excellent performance. These figures are highly motivating and can definitely inspire any employee to work at his best. Also there are ample of paid off leave which means as an employee I get a 3 week vacation and 8 day sick leave and other national paid holidays. This seems highly attractive to a new employee as every worker look towards a less stressful working and paid off just relax work to a great level. Apart from this the bonus and incentive seems to be highly cost – effective and employee attractive. The reward program is also highly comprehensive as it offers various rewards and program benefits on promotion and sports excellence. The promotion period looks sensible and 2 years is a good time frame for promotion as it is motivation to perform better for new employees like myself. The company is offering leisure club and sports club membership to promoted employees at managerial level which is highly appreciatable. As per (Jamerson, 2006) “Every company needs a strategic reward system for employees that address these four areas: compensation, benefits, recognition and appreciation. The problem with reward systems in many businesses today is twofold: Theyre missing one or more of these elements and the elements that are addressed arent properly aligned with the companys other corporate strategies”. Benefit Package for the post A benefit package is a best way to keep the talented employees in the company and recruit the cream of employees in the market. In human resource department, there is a need of highly talented and skill people. The benefit package is a huge attraction for employees and it can often include medical insurance plans, maternity benefits, and retirement saving plan, flex time and sabbaticals. Benefits package Medical insurance – The employee’s medical insurance is covered by the company. Dental coverage has a maximum allowed benefit of 1,500 dollars. Any short term disability will be covered at $300 dollar per week. The company also provide a long term disability payment of 60% of basic salary a onetime payment. Also the company provides a life insurance coverage which will be deducted from the salary and is optional. Retirement plan The employee can contribute 6% of their pay towards the pension plan and the company would add half of what you have contributed. Flextime The employee has the benefit of choosing flex time some days of the month. That means at least 3 days in a month one can choose to have flex time with same pay benefit. Extended leave The employee in case of need can take an extended leave with no pay. This means he can extend his leave for one week period for emergency or other personal reasons. This benefit package is advantageous to company on a short and long term basis. A good benefit package attracts a numerous amount of employees who would expect more from their employers. Such a plan can inspire the employee to work more too. A medical insurance is cost cutting program because if, the employees get health then it can have positive effect on business. This not only gets their physical loyalty but also their mental attachment to business. The dental insurance is also a good way to attract employees and retain them as very few companies offer this benefit to employees. Dental insurance is one of the most desired employee benefits. As per ( principal,2009) According to the 4th Quarter 2008 Principal Financial Well-Being Index, 70% of employees rate dental insurance as an important benefit. Such benefit plans shows that the company care for its employees which in turn bring loyalty and hard work from employees. The benefit package has flex time which enable the employees to change their working schedule at time to relieve. As per ( Tarkan,2011) “When you think of your ideal job, whats comes to mind? Great salary? Potential to move up? Well, if youre like 95 percent of employees, its flexibility, according to a Discover study”. These flex timings are essentials as at times, employees may want to dedicate time to personal or family matters on emergencies or prioritized social events. Then the extended leave is an extra bonus to the employees because in U.S unlike Europe vacations are not a mandatory issue. Extended leave can be a highlight of the benefit package as it can offer relaxation and time off from work for the employee if it is needed. The human resource co ordinate is a challenging position to work for in an organisation. It becomes mandatory for a human resource profession to need negotiate and collective bargain to achieve organisational goals. When you interact and deal with many people in and out of organisation this aspect becomes a part of the career. As a human resource professional, an enormous amount of time need to be spends in helping the employees and management. A negotiation skill aids in influencing company morale, improve productivity and boost the bottom line and build a competitive culture in the organisation. In order to manage a work force, a human resource co coordinator definitely would have to negotiate with its employees. With this position a negotiation need to be made on cases related to labour problems, leave issues and salary to ease off tension in the organisation. In the same way collective bargaining is an important role of the human resource personnel. In all the discussions between the company and the employee union, there is the presence of human resource personnel. He is the one who ties the strategic plans where the company is agreeing to make the concession for the benefit of the organisation and the employees. Collective bargaining is the aspect of the union security. Many issues can be included in collective bargaining like pay rates, health benefits, incentive programs and lay off procedures. So negotiating and collective bargaining is a part which a human resource co – ordinate has to do for attaining organizational goals. Conclusion Human resource is an important part of an organisation and its management is a challenging and daunting job. Being a human resource co coordinator gives a valuable opportunity to interact and understand people from different culture and also gives a chance to assist and develop them. Human resource department has the prime responsibility to recruit and retain employee and for this a comprehensive and lucrative compensation, reward and benefit package is required. Every employee looks for the best and Microsoft being the top most company needs to offer the best possible compensation and benefit package. In the compensation package apart from salary there is incentive, bonus, paid off days, rewards and benefits are also offered to the employee. In a reward program there is abundant opportunity for the employees to grow like promotion offers, reward certificates and they also get club and sports club membership. Also the benefit programs have many health and medical care benefits, flex time and extended leave offers. So the human resource needs to understand the ways to motivate and influence an employee through well designed compensation and benefit package. This compensation package is cost – effective and a profitable company like Microsoft would not be burdened with such a plan as it is offered to highly competitive positions like human resource and technical professionals. Also as a human resource co –ordained it is highly advantages to use techniques like negotiating and collective bargaining to achieve organisational goals. References Enterpreneur, . (2014). The Best Ways to Reward Employees. In http://www.entrepreneur.com. Retrieved June 2, 2014, from http://www.entrepreneur.com/article/75340 Jamerson, B. (2006). Take the Time to say Thank You to Your Employees. In http://www.bestbi zcom.com. Retrieved June 2, 2014, from http://www.bestbizcom.com/2006/0 9/taking_the_tim e_to_say_thank_y.html Principal, . (2009). Dental Insurance. In http://www.principal.com. Retrieved June 2, 2014, from http://www.principal.com/grouplh/dental.htm Sanburn, J. (2011). The Best Place in the World to Work. In http://business.time.com. Retrieved June 2, 2014, from http://business.time.com/2011/11/01/the-best-place-in-the-world-to-work/ Tarkan, L. (2011). The Benefits of Flextime (to Employers). In http://www.cbsnews.com/news/the-benefits-of-flextime-to-employers/. Retrieved June 2, 2014, from http://www.cbsnews.com/news/the-benefits-of-flextime-to-employers/ Read More