Nobody downloaded yet

Understanding HR concepts - Essay Example

Comments (0) Cite this document
Summary
Foot and Hook (2008) notes that employee training is one of the major roles of human resource management that seeks to improve the employee performance and…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.1% of users find it useful
Understanding HR concepts
Read TextPreview

Extract of sample "Understanding HR concepts"

Download file to see previous pages Evidently, human resource managers use training as a performance appraisal tool, which they conduct either after selection of the employees or during a specific time of the year. Organizations such as Ubisoft initiate a yearly program of performance appraisal as part of their talent development strategy.
The value of employee training is an issue that has drawn a lot of controversy within the field of research. Research shows that employee training is a complex and expensive process that demands both time and resources from the organization. Therefore, training increases an organization’s expenses within a year, a feature that has become undesirable for many organizations. During a century of intensive business competition, organizations are experiencing financial constraints and their priority is to minimise any expenses. Some organizations have eliminated their training programs as one way of cutting the costs of production. However, there is evidence that employee training may have a wide range of benefits for an organization. First, training keeps the employees motivated and gives them the zeal to work confidently within their department. Secondly, there is evidence that trained employees have a higher work output and this contributes to an increase in the profit generated within a year. In addition, employee training helps to develop employee’s talents to help them grow as the organization grows (Bratton & Gold, 2001). This explains why large companies have elaborate training programs that seek to improve the employee performance.
However, there are obstacles to employee training programs that the human resource managers must anticipate while implementing performance appraisal. Training may become ineffective when employee have acquired optimal performance and feel that they cannot learn more. In this case, investing in employee training does not improve worker performance. In other cases, the employees may feel ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Understanding HR concepts Essay Example | Topics and Well Written Essays - 1000 words”, n.d.)
Retrieved from https://studentshare.org/human-resources/1693843-understanding-hr-concepts
(Understanding HR Concepts Essay Example | Topics and Well Written Essays - 1000 Words)
https://studentshare.org/human-resources/1693843-understanding-hr-concepts.
“Understanding HR Concepts Essay Example | Topics and Well Written Essays - 1000 Words”, n.d. https://studentshare.org/human-resources/1693843-understanding-hr-concepts.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Understanding HR concepts

Understanding the Concepts

...? Understanding the Concepts Understanding the Concepts Financial ratios are mathematical comparisons of financial entries that are made from an organizations financial statement. These ratios helps an organization to make financial, management and investment decisions, since they present information based on the time value of money, where the present value differs from the future money value (Bangs, 1992). Financial ratios serve to help a business monitor its progress, noticing all the trends and the factors inhibiting its desired performance. There are various financial ratios that are key to the running of a small business. These ratios include the current ratios, which are applied to measure the liquidity of a business, thus... ...
4 Pages(1000 words)Assignment

Understanding the concepts

...? UNDERSTANDING THE CONCEPTS Imagine you are a small business owner. Determine the financial ratios that are important to the business. Compare your ratios with those that are important to a manager of a larger corporation. Ans: For a small business owner, the following ratios are important to him and he will compare these ratios with that of ratios of larger corporation in the following manner-Current ratio = current assets/current liabilities. This ratio will be compared between the two firms to check the liquidity position or short term solvency of firm. The ideal current ratio is 2:1. Debt equity ratio = long term debt/shareholders fund. It will be compared to check the claim of outsiders and owners...
4 Pages(1000 words)Essay

Assignment: Understanding the Concepts

... Ratio analysis is a very accurate and reliable tool when it comes to analyzing the financial outlook of an entity. The primary reason to conducta ratio analysis is to quantify the results of the operations of a company and compare them with that of the prior year(s) in order to assess different aspects of the financial feasibility. The ratios can be divided into various categories such as profitability, gearing and liquidity, each focusing on a different area of the financial outlook of the organization and highlighting the company’s performance. These analysis form an integral part of the financial statement analysis, especially from the investors point of view, who always strive to invest in companies having strengthened... Ratio analysis...
4 Pages(1000 words)Research Paper

Understanding of Change Concepts

...? Understanding of Change Concepts Understanding of Change Concepts It is important for modern organizations to be always readyto respond to change. This is because it is considered to be a basic competitive advantage for a company to be prepared to respond to change efficiently. Change leaders should have a deep understanding of the company’s capacity for transformation in terms of resources and overall preparedness. If the organization lacks the appropriate features that show readiness and capability for change, challenging issues must be tackled before the change program is set on track. In addition to, if the change managers in an organization are...
3 Pages(750 words)Research Paper

Emerging New HR Concepts

...Think Global, Act Local: Emerging new HR concepts The new global business scenario has been demanding a flexible strategy for maintain profitabilityand increase reach. Companies are compelled to enter into new territories and market. They have to work out well thought strategies and action plans in production, human resource management, supply chain management, product innovation and corporate governance. There are two sides for the growth story. On the one hand there are immense pressure from investors, share holders and management to increase profitability and productivity. On the other hand open competition and high bargaining power of customers and markets are squeezing margins of the companies. The...
10 Pages(2500 words)Essay

Understanding the concepts

...Operations Management (Add (Add (Add Operations Management Both Net Present Value (NPV) and payback method canbe employed to make a good financial decision. As Sherrick, Ellinger, & Lins (2000) point out, the NPV method gives first priority to currency value while the payback method emphasizes the time required for achieving a return on the investment. As compared to concepts like time value of the money, present and future value, inflation and other financing factors the NPV method is more suitable for making good financial decisions since the payback method does not take those aspects into account. However, both of the tools are used to estimate the future returns and thereby the potential of the proposed investment. And, thus... , it...
2 Pages(500 words)Essay

Understanding the Concepts

...Understanding the Concepts Introduction: Financial ratios are determined in order to reflect on a company’s financial status. The current study focuses on the necessary ratios needed to understand the status of a small corporation and compare it with ratios required for large corporations. Financial Ratios: In regard to a small corporation it can be realized that highly sophisticated methods of financial control are not necessary. Hence financial ratios that are the basic to the need of an understanding of the financial status are applied in smaller organizations that present an analysis of the profits and debt, assets and equity status of the company. These include the...
1 Pages(250 words)Essay

Understanding the Concepts

...Running Head: Understanding the Concepts Understanding the Concepts Understanding the Concepts Introduction Capital projects can be analyzed using six different methods, which are internal rate of return, (IRR), net present value (NPV), profitability index (PI), modified internal rate of return (MIRR), discounted payback, and payback. NPV is used to estimate discounts and cash flows of the future. Discounted cash flows minus the investment cost are equivalent to the NPV. It is worth noting that when NPV is equal to zero the project has enough cash to pay its debts and equity, which was invested in the project. On the other hand, if the...
4 Pages(1000 words)Essay

Understanding the Concepts

...and incremental costs are important in determining if the company will continue with a particular product or service. References Cressman, G. E. (2009). Why pricing strategies fail. The Journal of Professional Pricing, 18-22. Finkler, S. A. & Ward, D. M. (1999). Cost accounting for health care organizations: Concepts and applications. Sudbury, MA: Jones & Bartlett Learning. Glick, N. D., McCue, M. J., & Zelman, W. N. (2009). Financial management of health care organizations: An introduction to fundamental tools, concepts and applications. Hoboken, NJ: John Wiley & Sons. Jawahar-Lal. (2009). Cost accounting. New Delhi, India: Tata McGraw-Hill Education. Kotas, R. (1999). Management accounting for...
6 Pages(1500 words)Essay

Understanding Concepts

...Understanding Concepts Understanding Concepts Important financial ratios to a business Ratio Analysis helps the business manager to see trends in a business, and compare its condition and performance with that of like businesses in a similar industry. Therefore, the manager may evaluate the relative weaknesses and strengths of his or her business. This comparison of business ratios to those of other similar businesses will indicate the weaknesses or strengths within a business (Albrecht, 2011). The most effective way for owners of small businesses to utilize financial ratios is by conducting a ratio analysis on regular intervals. Ratios important to a manager...
5 Pages(1250 words)Essay
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 Essay on topic Understanding HR concepts for FREE!

Contact Us