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THE DIFFICULTIES IN RECRUITING, TRAINING, MOTIVATING AND REWARDING STAFF IN A GIVEN FINANCIAL SERVICES COMPANY - Essay Example

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Human resource management (HRM) is a vast area and its theory and practices provide understanding the organization and its employee's problems. It is based on organizational behavior and it includes several issues including Safe, Healthy and Happy Workplace, management style, performance reward and bonuses, evaluation or appraisal system, feedback system, knowledge sharing and exchanging of ideas and taking opinion of the employees and so on.
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THE DIFFICULTIES IN RECRUITING, TRAINING, MOTIVATING AND REWARDING STAFF IN A GIVEN FINANCIAL SERVICES COMPANY
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Download file to see previous pages ensures that the employees are as enthusiastic about the business and they are devoted towards their organization.
Involving employees in taking decision for the company and their opinion for making improvement leads company to success. If top management involves their employees in company's affairs, they will feel recognition and self respect and they will perform even better. It also helps in building trust and motivates employees.
Bonuses or reward can also be a good and effective way to encourage and motivate employees. Through this process, they will get to know that, they are performing well in the organization and they are beneficial for the company as well. Bonus must be designed in such a way that people or employees understand that there is no payment in terms of bonus unless the company gets the profit and also exceeds the level of profitability. Bonus and reward is also based on team's success and the individual's performance.
Feedback is also an important factor in HRM process. If an employee or a person is performing well, he will participate to enhance or Increase Company's productivity. He/she will be appreciated for this and should be recognized for his/her work in a positive and in effective way.
Evaluation of the performance should be taken fairly. There is a need to develop a performance evaluation system which focuses on individual performance. Self rating as a part of evaluation process encourages or empowers employees. Evaluation becomes fairer if it is based on the records of and achievements of the employee.
HRM practice and policies provide several good and effective ways of organizing and managing organization's functions. It also gives or provides help to develop effective strategies for making the company or organization more productive and successful. Employees play a lead role in any organization, so the polices and practices regarding employee or human resource should be followed effectively and in a good manner.
ORGANIZATIONAL BEHAVIOR
Organizational behavior is the body of knowledge which describes, analyzes and explains how organization influences the behavior of the members or employees and how they respond to the performance and ecology/culture of the organization or environment. Organizational behavior focuses on several functions and process of organization such as recruiting, rewarding, compensation, motivation etc; it also focuses the problems and difficulties of the organization.
DIFFICULTIES IN RECRUITING, TRANING, MOTIVATING AND REWARDING STAFF IN DAVENHAM GROUP (Finance Company in UK)
Davenham Group is a leading specialist, commercial finance company performing its functions in UK. Established in 1991 and divided into ...Download file to see next pagesRead More
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