Creating a Dream Job - Essay Example

Creating a dream job al affiliation) My dream job is becoming the chief executive managers of a multinational corporation. Some ofthe multinational corporations include Coca Cola Company which is associated with the sale of soft drinks. Another example of such a multinational company is the Samsung Company that deals with sales of electronics. The paper seeks to identify various issues associated with human resource management in an organization. It is indeed true that a company cannot achieve its goals if the human resources are not well managed. Companies have to invest in management of human resources for better results Job description The Job description of my dream job includes; Assuring regulatory and legal documents filings with compliance monitoring based on the regulation and laws that are relevant to the company. Some of such legal compliance may concern the safety of the worker at their place of work. The chief executive officer works closely with the board of directors in determining mission, values, short and long term goal and the vision of the company. They have to keep the board informed of the company’s progress and evaluate the achievement of the goals and objectives through evaluation of the result (Kramar, 2010). A chief executive officer of a multinational corporation has to identify opportunity and problems and come up with ways of dealing with it. The CEO has to keep the committee members about issues, trends, activities and problems with an intention of making policies directed at coming up with strategic plans that will ensure the company is able to deal with emerging problems. A CEO keeps the board of directors informed about the developments in fund development, philanthropy, governance, human services development and not for profit management. The chief executive officer is accountable for the administration and management of the company. The CEO is also accountable for the smooth and efficient running of the company through standards and control implementation with regular evaluation of the procedures and systems. Regular performance evaluation of the company is done by the chief executive and the members of the boards of directors (Kramar, 2010). The CEO works closely with the chair of the board to ensure proper board functions. The chief executive officer will also ensure better community relations and controls the finance of the company. Job specification The job specification on the other hand ensures that the company is able to employ a person who has the experience of running a company of such a magnitude. The job specification of the chief executive officer is as follows; the person is to have a management experience in medium sized and other small organization. The person is to be experienced in supporting a team, financial management and income generations. The CEO should have experience in budgeting, and has to posses skills aimed at managing the finances. The person is to have experience in inspiring and managing a team of other employees (Kramar, 2010). The person should be able to work closely with the board of directors and posses management experience in other known organizations that have registered performance. On skills, capability and knowledge; the chief executive officer is to be effective in making decision, able to implement and prioritize complex tasks, should have communication skills that are considered excellent, strong modeling and financial management skills, interpretation and being informed on budget issues, should possess excellent organization and time management skills and should be in a position to recognize the importance of community empowerment. In addition the chief executive officer is to be in possession of the communication technology and IT skills. On issues concerning personal attributes; a chief executive officer is to be reliable, determined and self assured, confident and a role model to the team, should be able to empower the team, solution oriented, energetic, ambitious and able to solve organizational problems, self motivated, hard working and committed (Kramar, 2010). A chief executive has to be proactive and of positive attitude to change. Companies have to specify qualities of the person they need to employ during job advertisements. Job advertisements have to give information on how to apply for the job in cases where the person has all the qualities required. Compensation and benefit package Employee compensation and benefits strategic plan depends on the type of the employees attracted by the company. The company compensation plan focuses on the reward programme, company perks, benefits package and pay scale. A company with a well planed compensation plan competes for the best employees in the market. Competent employees are attracted by a compensation plan that is effective and strategically planed. Payments of wages that are above the market’s prevailing wage attract employees that are more competent. The compensation plan for the company will include; rewards directed at the employees that are performance based, the employees will be evaluated by use of performance appraisal. The companies’ reward system should be understood by the employees and the goals should be achievable. The level of performance should not be placed too high for the employees. Regular salary increment, night shift deferrals, overtime payment and weekend premium payments. The employees will receive medical insurance cover and the retirement funds. The company offers sick and vacation leave. The employees are entitled to more than 10 days daily. The compensation and benefit plan of the company is concerned with the wellness and health of the people involved. The employees working in the company have access to insurance protection and beneficial retirement programs. Other benefit plans such as; life insurance, short term disability, vision, medical, dental and accident and accidental death &dismemberment. Other benefits entails wealth accumulations aimed at ensuring the employees takes charge of the future financial charge. The employee’s salary is based on the years of experience, responsibility and qualifications (Allen & Keaveny,2012).. The employees in the multinational corporation are also entitled to end of the year pay that is discretional. The company also offers other programs that are aimed at increasing the compensation and benefit package. The employees also receive pay bonus based as part of the company annual appreciation. The companies also come up with strategies aimed at improving the place of work with an intention of ensuring a healthy and safe working environment. Employees are also motivated by being offered awards, especially to the best employee of the year. This creates competition among the workers with an intention of being the best and the overall outcome is directed at the performance of the company. Tying compensation performance aligns directors, shareholder and executive incentives. Compensations that are properly structured are beneficial to the company because they assist in firing and hiring of the employees and improving the social efficiency. Most company workers make investments targeting, professional and personal relationships, specialized knowledge and skills. The employees are compensated based on their contribution to the performance of the company. The qualification of the employees also determines the salary benefits. The company has an incentive of laying off those workers whose performance is less compared to the benefits and salary (Allen & Keaveny,2012). Multinational corporation has to subscribe to a compensation plan that will be essential and which will prevent cutbacks and mass layoff to enhance share value at the employees expense. Mass lay off may enrich shareholders even though it is associated with other costs that exceed the benefits of the employees. Most companies that have decided to negotiate with the employees on the issue of reducing salaries instead of laying them off has been shown to be more profitable than the ones that chose to lay off a large number of the employees. Employee’s benefits and compensation is highly justified because of the positive outcome that it brings to the organization. A company cannot run without competent human resources. Compensation, either non monetary or monetary affect the recruitment process of the company involved. The compensations and benefit strategy affects the employees satisfaction, retention rate and recruitment rate. A corporation with good benefits and compensation package attracts candidates that are talented for the job. Employees who are talented impact positively toward the productivity and competitiveness of the company. Motivation is another benefit that a company accrues from a competitive benefit and compensation package. Motivation impacts directly on the performance of the worker (Allen & Keaveny,2012). Companies that reward the employees based on the profit achieved are said to motivate the workers to work even better. Many companies have come up with effective ways of motivating the employees. Most of them however, link motivation to the performance of the worker. Companies with benefits and compensation packages that are more effective tend to retain productive employees. Employee retention saves money spent by the company in maintaining and training a work force that is considered more efficient. Companies have to implement regulation and policies that targets compensation and benefit packages in order to avoid policies that can impact negatively on the progress of the company. An effective performance appraisal program for Multinational Corporation should be able to align with the values, goals, vision and mission of the company. The tool has to evaluate the strategic changes and effectiveness of the company. Other human resource system ought to be aligned with the performance appraisal tool. The legal risks are to be minimized and the evaluation tool has to be customized. The employees are to be informed on the performance appraisal development, the techniques used in gathering the information should ensure the employee and the supervisor discuss about the achievements of the employees and where changes ought to be applied (MacKenzie, 2000). The opinion of the employee has to be considered during the development of an appraisal. The appraisal programme should be based on assessing the past and coming up with future objectives for the company. The appraisal goals should be set with the employees assessment based on the achievements of the stipulated goals. The measures of the employees should be in line with the organizations goals. Performance appraisal design should have an evaluation approach. The program has to be evaluated every year with an intention of making the necessary changes for future progress. A good performance appraisal program should contain the following; program scope, the program coverage of the employee, the appraisal period, the minimal appraisal periods, elements that are considered critical and the performance plans are supposed to be included. The employee together with the supervisor is supposed to set up performance appraisal goal for the coming year. The goals will be the foundation for future appraisal plans (MacKenzie, 2000). The goals are supposed to be measurable, specific, time bound, realistic and action oriented. Employee has to be given a chance to give their opinions about the appraisal periods. The employee and the supervisor should be in a position to acknowledge having gone through the process together. The performance appraisal program is to target the participation of the employees in organizing, planning and setting of the companies goals. Employees who takes part in the planning process and aim at achieving individual goals which is in line with those of the organization are considered to be an essential organizational asset. The program should also base on the employees ability to meet the set goals for the success of the organization. The appraisal program should target the employee’s problem solving skills for example how the employee is able to deal with a certain situation if it ends up emerging during the course of employment. The program should also focus on innovation and flexibility of the employee. The tool should be able to assess the openness of the employee in tackling new and different issues and should be able to come up with alternative but effective way of dealing with certain issues. The program should be able to assess the working relationship of the employee. the employee has to posses skills for relationship building and the ability to work effectively with other people in the company at all the levels. The tool should also assess communication skills targeting listening, written and verbal skills and its application at all levels of organization. Finally the tool should be able to assess the employee’s commitment toward achieving the goals of the organization and their attendance and punctuality. The employee should be able to demonstrate effective supervisory and leadership skills. Performance appraisal helps the employees to gauge their performance and be aware of the area to improve in future. The information obtained during and after appraisal period enables the employee to work hard with an intention of getting merit pay and promotion. The supervisor should give feedbacks that will direct the employee to work even harder to improve his performance. The information obtained during performance appraisal is effective in finding out whether the work force need extra development or training. Inadequate skills and knowledge among the employees results to deficiency in performance (MacKenzie, 2000). The appraisal tool is also essential in validating both external and internal sources. It helps predict the performance of a certain candidate on the job. Most companies have utilized the tool in ensuring the best employees are promoted. The tool can help identify an employee that needs to be transferred and also contributes to decisions targeting employee layoffs. Decisions on compensations may be based on the tool. This can be done by pay and incentive increase. References Allen, R., & Keaveny, T. (2012). Costing Out a Wage and Benefit Package. Compensation & Benefits Review, 27-39. Kramar, R. (2010). Beyond strategic human resource management: Is sustainable human resource management the next approach? The International Journal of Human Resource Management, 1069-1089. MacKenzie, I. (2000). Performance appraisal systems for organizational success. Emmitsburg, MD: National Fire Academy. Read More