Topic: Compensation Submitted By: Syeda Zunairah Bukhari (10-Arid-1942) Sir: Abdul Latif Barani Institute of Information technology PMAS-Arid Agriculture University Rawalpindi. Definition: Compensation is the total amount of the monetary and non-monetary pay provided to an employee by an employer in return for work performed as required. Compensation is based on: market research about the worth of similar jobs in the marketplace‚ employee contributions and
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Every religion says that God created this entire world. Since there is only one world‚ there should be one God‚ who must be impartial to all the children in the universe. That one God must have preached the same spiritual knowledge in different languages and different countries which were disconnected and had no communication in olden times. At that time‚ had he preached the true spiritual knowledge to one country only‚ God would become partial because some generations in other countries would have
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What is the difference between hard and soft Human Resource Management? Improve HRM is an essential and vital function for organizational success. Areas within HRM like Manpower planning‚ Job analysis‚ Selection and Recruitment‚ Compensation and Benefits‚ Performance evaluations‚ Contract negotiations and Labor legislations are parts of hard HRM whereas functions like Organizational development‚ conflict management‚ human resource education‚ leadership development‚ organizational culture
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impossible to achieve "Strategic HRM is an approach that defines how the organisation ’s goals will be achieved through people by means of HR strategies and integrated HR policies and practices" (Armstrong‚ 2009). The overall aim of strategic HRM is to maximise the firms’ performance by making sure all employees are of high calibre and committed to achieving the organisations competitive advantage. Within HRM it is not clear how to best link strategic HRM to the organisations strategy. The main
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relationship between Human Resource Management (HRM) and productivity. HRM includes incentive pay (individual and group) as well as many non-pay aspects of the employment relationship such as matching (hiring and firing) and work organization (e.g. teams‚ autonomy). We place HRM more generally within the literature on management practices and productivity. We start with some facts on levels and trends of both HRM and productivity and the main economic theories of HRM. We look
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crucial sub – system in process of management. This can be defined as the total knowledge‚ skills‚ creative abilities‚ talents & aptitudes of an elegant work force. HRM means employing people‚ developing their resources‚ utilizing‚ maintaining and compensating their services in with the job & organizational requirements. HRM is managing the functions of employing‚ developing and compensating H.R’s resulting in creating and developing human relations and utilization of H.R’s with a view to contribute
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DYNAMIC ORGANIZATIONS 2 EVOLUTION OF THE HR FUNCTION - FROM A BUSINESS FUNCTION TO A STRATEGY PARTNER 3 HR Function Growth Path 3 HR as a Business Function 4 HR as a Business Partner 4 HR as a Strategic Partner 5 EFFECTS OF TECHNOLOGICAL CHANGES ON HRM AND INTRODUCTION OF HRIS 5 A RETENTION FACTOR IN TODAY’S DYNAMIC BUSINESS WORLD - TRAINING AND DEVELOPMENT 6 TQM – THE 3 MAGIC LETTERS TO SUCCESS 7 Key Elements: 8 TOTAL QUALITY HUMAN RESOURCES MANAGEMENT 11 Introduction 11 How to implement TQHRM
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management p. 46 HRM and organizational performance p. 60 Chapter objectives After studying this chapter‚ you should be able to: 1. Explain the meaning of strategic management and give an overview of its conceptual framework. 2. Describe the three levels of strategy formulation and comment on the links between business strategy and human resource management. 3. Explain the two models of strategic HRM‚ the matching model and the resourcebased model. 4. Comment on the various strategic HRM themes of
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penetration‚ (Surpass United) Market development (new routes‚ Europe) Functional level strategy: Differentiation in IS and marketing dept (SABRE reservation system‚ frequent flier program‚ lost baggage system‚ sheep-skin seats). Low cost in HRM department. HRM practices o Base salary lowered yet external equity was
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To give you an idea of what is important to learn‚ I constructed some questions. The answers can be found on the slides and the book. Good luck learning. 1. give the definitions of Management‚ manager and HRM Manager the inspiring person leading group of people‚ to reach together with a specific goal. And who is responsible for the (common) result managing taking care that human qualities are utilized Human resource management: methodically and systematically
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