How 401Ks Are Used as Staff Recruitment Tools - Term Paper Example

Contents Contents Introduction 2 Research Methodology 3 Reliability and validity 3 Limitations 4 Elimination of bias 4 Analysis 4 References: 8 Introduction 401k is one of the key methods which allow users to hold onto their methods of staff recruitment. Staff recruitment is one of the key processes for the management of any company. HR policies and compensation strategy helps HRD department to plan staff recruitment. 401k plan participation binds the employee to the company for long. The participation of equal amounts by the employer in this plan is the key benefit of the plan and no employee wants to lose on this amount. The aims of the performance appraisal are to provide the employees with the feedback on their performance. Performance appraisal also helps in identifying the training needs of the employees. The performance helps the organization provide the proper rewards and recognition to the deserving employees. It also provides the opportunity to the organization for the diagnosis and development. It also helps the organization to better the communication between the employees and the administration. Some of the most popular appraisal systems that are used in the organizations are as listed below: 360-degree appraisal Behavioural observation scale Management by objectives Behaviourally anchored rating scales (Wilkinson, A.,1988).  Research Methodology We talked to limited sample of people to understand their approach to this critical problem which both employers and employee feels. The discussed sample method guaranteed that all categories that could be found among employees in relation to job performance were represented. The sample also established and confirmed the connection between various employment categories and let the researcher analyze employee attitudes toward control management and verify them. This kind of sampling threw light into the relation between the position in the job hierarchy and attitudes toward control management. Today, inferential statistics imply the use of numerous analytical methods. Obviously, a profound analysis of the data is required to obtained inferential statistical information. More often than not, statistical software is used to find out and understand the complex relationships between several groups. Based on the premise that the current research involved the need to investigate and compare three groups of employees. This groups were created on the basis of age and the working stature of the employee. Reliability and validity To pursue reliability of the research results, stratified sampling was used. Strategies significant to assuring validity in this particular study included briefing the respondent over telephone before the actual survey, making all respondents aware of the importance and practical consequences of this research, obtaining informed consent and putting the respondents at east through a candid and friendly approach. The honesty and openness of respondents in filling out the questionnaire had to ensure better validity of the research results. Limitations The research involved a number of limitations. First, the use of surveys as the basic data collection tool implied that surveys would be the only source of information for the researcher. Any wrong answers presented by the audience who was questioned could introduce the error in the results. Second, since affective variables were researched, there was a significant risk that many people would not be able to translate their opinion by using the options presented as answers. The risks of a non-response error were relevant, too. Finally, the relatively small number of respondent made it difficult for the researcher to generalize the results obtained in the process of data analysis. Elimination of bias Bias is a widely acknowledged form of systematic error, which distorts the process of investigation, research, and measurement of the research results. The researcher sought to eliminate bias by choosing random population selection procedures and creating a sample that adequately reflects the full spectrum of characteristics in the target group – participants from all performance groups had to reduce the sample bias in this study. As long as all participants voluntarily agreed to provide their responses, no participation bias was observed. No influence on the future participants was exerted, to make them participate against their will. Analysis This study illustrates how feedback is the efficient tool which valued the most for crucial decision making process. Receiver will be benefit from the various people surrounding him by feedback system if the sources have ample of knowledge about task & performance of the recipient. According to study conducted student versus supervisor feedback to teachers proved that students were more effective & efficient to improve the performance of the teacher rather than the supervisor. In explanation the author says that teacher spend more time with the students rather than the supervisor. Along with that multiple feedback system correctly shows the potential of the person by reducing biasness or malice practice which is usually part of the corporate. Seniors or supervisor generally or constantly focus on the scope of the improvement, underestimating the achievement. 401k is one of the key methods which allow users to hold onto their methods of staff recruitment. Staff recruitment is one of the key processes for the management of any company. HR policies and compensation strategy helps HRD department to plan staff recruitment. 401k plan participation binds the employee to the company for long. The participation of equal amounts by the employer in this plan is the key benefit of the plan and no employee wants to lose on this amount. Job performance evaluation is an integral part of any organization. It is basically management decision to control the organizations which consist of the control standards, measurement, and corrective actions. Control Standard is the first & foremost thing which based primarily upon the mission of the organization or individual short term goal of the every department. It indicates the crucial contribution of the performance appraisal system in the organization. Measurement which is a quantitative analysis or process depends upon many steps like appraisal criteria/ technique consist of the attributes or parameters, appraisal timing. The appraisal criteria are predefined by the organization which varies from organization to organization. The appraisal method or technique plays a crucial role in this process. Generally appraisal depends upon the performance of the candidate along with lot of qualities like team skill, soft skill, analytical skill, domain knowledge and so forth. Feedback is most crucial & essential part of the appraisal process which cannot ignore any time. Corrective measures are taken after feedback receive from the different sources. The appropriate corrective action should be taken to if there is any discrepancy between actual performance and performance standard. It not only a check guard for an employee to attain certain standard or level but also help to motivate the employee to perform better and productive manner. It built or reinforces trust among the team members or employees. According to this study it creates a value which helps to motivate the employees to perform better. 401k is one of the key methods which allow users to hold onto their methods of staff recruitment. Staff recruitment is one of the key processes for the management of any company. HR policies and compensation strategy helps HRD department to plan staff recruitment. 401k plan participation binds the employee to the company for long. The participation of equal amounts by the employer in this plan is the key benefit of the plan and no employee wants to lose on this amount. The aims of the performance appraisal are to provide the employees with the feedback on their performance. Performance appraisal also helps in identifying the training needs of the employees. The performance helps the organization provide the proper rewards and recognition to the deserving employees. It also provides the opportunity to the organization for the diagnosis and development. It also helps the organization to better the communication between the employees and the administration. References: Armstrong, Michael (2006). A Handbook of Human Resource Management Practice (10th ed.). London: Kogan Page. ISBN 0-7494-4631-5. OCLC 62282248. Smit, Martin E.J.H. (2006). HR, Show me the money; Presenting an exploratory model that can measure if HR adds value. Rosemary Harrison (2005). Learning and Development. CIPD Publishing. pp. 5. ISBN 1843980509. Legge, Karen (2004). Human Resource Management: Rhetorics and Realities (Anniversary ed.). Basingstoke: Palgrave Macmillan. ISBN 1-403-93600-5. OCLC 56730524. Wilkinson, A. (1988). "Empowerment: theory and practice". Personnel Review 27 (1): 40–56. doi:10.1108/00483489810368549. Performance Appraisals [Online]. - Nov 20th, 2010. - http://www.businessballs.com/performanceappraisals.htm. Socially responsible Corporations [Online]. - Nov 20th, 2010. - http://social-corporate-responsibility.suite101.com/article.cfm/socially-responsible-corporations-business-ethics-citizenship. Read More