Market competitiveness on the other hand focuses its attention on gaining the best qualified employee and retaining them. A company must be customer focus and watch its competitors as well as develop suitable resources. Pay structures are vital to an organizations compensation department. It recognizes the importance of individual contributions by developing pay grades and ranges that promote the retention of their valued employees. Describe the contextual influence that you believe will pose the greatest challenge and the contextual influence that will pose the least challenge to companies’ competitiveness and explain why.
Provide a rationale with your responses. As Managing Consultant for Genius Inc., I wouldn’t discontinue operations because they are making a profit. If I was in management, I would sit down with employees and show them the numbers that if we don’t do something, the company is going to go under. I would first ask them to voluntarily negotiate their contracts. If they weren’t willing to do that, I would consider implementing new technology in which we didn’t have to have as many workers or letting people go and hiring new folks at lower salaries so the company could stay in
Choosing to use specialty task assignment the specialization will be maximized and lower the cross-training costs. That is allowing the company to match employees with jobs considering their skills and training. Employee will be limited to performing one function and are not flexible to perform other task and fill the gaps when need it. That also mean the company has to hire more staff depending on the productivity rate and production technology. In specialized task assignment we observe functional myopia, meaning workers are concentrated on the function they perform instead of the whole process.
Employee knowledge, experience, education, and performance would be reasons for differences in pay within a pay structure level. Someone who has more knowledge and experience should make more than someone who is just starting in a given job or career. In determining raises and other compensation, merit pay systems seem to be fairer than seniority pay systems. The text states that seniority pay and longevity pay systems reward employees with periodic additions to base pay according to employees’ length of service in performing their jobs. In my experience at working for an organization that uses seniority pay, there is not a lot of motivation to work harder than anyone else.
At Bain & Company, the managing director is driven by achievement and power. He is using the down sloping economy as an opportunity to find some of the most talented employees that would otherwise be employed elsewhere. Bain & Company is landing these new employees at a lower salary. With the economy at a low people will take a lower paying job just to have a job. He is also looking to hire the most creative people so that he can be a step ahead of the competition.
The role of human resources has historically been confined to mundane administrative tasks related to payroll and benefits administration. However, modern science, psychology and technology reveal the importance of recruiting the right person for a specific position. One can person can topple a company, or bring it to new heights of glory. Right-Fit theory provides that a job candidate’s fit has less to do with their professional and/or educational experiences, and more to do with the sum of their parts. Meaning that, it is vital that recruiters and human resources look beyond a resume or job networking site profile and more so at the person’s life experience, attitude, culture, and background.
The method that Tanglewood currently uses to hire managers is similar to the method that is used to hire store associates. I feel that a change is required when it comes to the selection plan if Tanglewood expects to hire the best employees out there. The department manager position requires that the potential employees take on a greater responsibility, and perform their work more intelligently. So in order to accomplish that, and hire employees that will perform those types of duties, Tanglewood must tailor our selection methods to match the specific KSAO’s that are required for the position. The more closely we measure the applicants KSAO’s to match to what is required for the position at hand the better results we would produce.
Pay/Benefits Good pay and benefits will attract motivate and retain staff within the company. This can impact the start of the employee relationship as if people are feel they are paid and rewarded fairly for the work they do they are more likely to have a higher output. State of the economy In recent years the recession has led to more redundancies and less capital for companies. This can impact on the start of the employment relationship as companies may not have as many succession options for current employees and this will lead to fewer vacancies. Staff may feel demotivated and unsatisfied in the work they do.
The cost of making a wrong decision is high and testing may be a particularly worthwhile venture to prevent these decisions. A wrong decision in the hiring process can lead to increased training costs, costs because of poor performance or errors and the costs of replacement of the employee. In the employee turnover process alone the cost saving can be realized with the reported average turnover cost of one third to one half of a non-management employee salary. This number increases to one to two
It is important to have a universal organizational culture that fits the demands of the businesses environment. Obtaining the proper culture could be a competitive benefit for a business, however utilizing an improper culture within the organization could lead to difficulties in performance, organizational failure, and could be a barrier preventing the business from changing and taking risks (Organizational, n.d.). In order to have a strong culture it needs to be distributed throughout the company’s employees, which is a culture that most members in the company show consensus concerning the values of the organization (Organizational, n.d.). The stronger an organization’s culture, the more possible it is to assume the way employees think and behave. Legal, Ethical & Meeting Issues It is never ok to discriminate in the workplace, however discrimination against people based on their ethnicity, racial or cultural orientation in the United States is