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Rousseau (1989) defines the psychological contract as “an individual’s beliefs regarding the terms and conditions of a reciprocal exchange agreement between that focal person and another party” (p. 123).
There are various aspects of the work force like variations in the job, nature of job, challenges of the work and other areas that have been considered as growing areas of interests (Hughes and Palmer, 2007). There has been various human resource management issues related to the contingent work force that provided one of the most appropriate areas of studies for the professionals and researchers. According to Feldman (2006 as cited by Hughes and Palmer, 2007) the Bureau of Labour Statistics (2005) revealed that the contingent workers formed nearly 10% of the workforce in early 2005.
George and Kelly-Patternson (2007) covered different importance of psychological contract within various professional groups. The present economy has transformed from the manufacturing to service and service to knowledge based economy. The experience and skills of individuals have become base for economy. The psychological contract is high in the knowledge based industry. Success of the projects depends on the psychological contract.
Psychological contract is explained with respect to emotional aspects of loyalty of employees and support from the organisation (Grimmer and Oddy, 2006). There are individual perspectives of employees, perception of the employees and mutual promise among the employer and employees (Rousseau, 1995). Working relationship of the individuals and organisation is covered in psychological contract (Sparrow and Cooper, 1998). Psychological contract is explained with the use of the term “unwritten expectations” (Wellin, 2007). These expectations are ever-changing and continuously operating between the all the members of the organisation. There are transactional psychological contract and relational psychological contract. Transactional
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Therefore, it is imperative on businesses to identify their core human resource management needs and honour them even if they operate in different parts of the world. Stahl and Bjorkman identify three motives for the need for the international transfer of human resource management systems for multinational corporations (2006 p3).
Organizations are as healthy and effective as people who work there. Different organizations pursue different management styles, which depends on the specific strategy chosen by a company. HRM practices must serve the purpose of aligning the company's strategy and its personnel and lead to efficient utilization of HR potential.
Practitioners see the Human Resource Management as a more innovative view of workplace management, rather than the older traditional approach. Managers of an enterprise are forced through its techniques to express their goals with specificity, so that workforce may understand and undertake them easily.
It functions in a variety of activities such as deciding whether to choose independent contractors or hire employees, providing employees with trainings and seminars to achieve their fullest potential, and ensuring that the practices of the organization conforms
The author of the paper suggests that the DVD supplier is making efforts to explain to the client the order details and the entire description of the package and its suitability to the buyer. Besides, it is evident from the message that the supplier is indirectly persuading the client to keep buying from them besides requesting for a feedback on the client satisfaction.
Every organization is developed for several benefits of individuals, such as small businesses, corporations, religious institutions and political parties. The goal of organization is to produce low entropy and provide a force that can help to motivate action.
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