MS-02 JULY DECEMBER 2016 SOLVED ASSIGNMENT
- 1. Sample Assignment July-Dec 2016 MS-02 Course Code MS - 02 Course Title Management of Human Resources Assignment Code MS-02/TMA/SEM -II/2016 Assignment Coverage All Blocks To buy MBA assignments please use below link https://www.payumoney.com/store/#/buy/kian-publication For other Information please click on below link http://ignousolvedassignmentsmba.blogspot.in/ KIAN PUBLICATION Whatsapp- 9580039150 ignousolvedassignmentsmba@gmail.com kianpublication1@gmail.com ignou4you@gmail.com
- 2. 1. Explain the process of human resource planning. Describe how HR forecast is carried out in the organisation you are working with or an organisation you are familiar with. Human resource planning is the process of anticipating and carrying out the movement of people into, within, and out of the organization. Human resources planning is done to achieve the -------------------------------------------------------------------------------- -----------------------------------------------------------------------. Thus, it is a double-edged weapon. If used properly, it leads not only to proper utilization, but also reduces excessive labor turnover and high absenteeism, and improves productivity. Process of Human Resource Planning (With Example) The organization I am referring here is Tata Consultancy Services (TCS) -------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------- -----------------------------------------------------------------------------------------------------------------------------, one of the largest provider of information technology and business process outsourcing services in Asia. Tata Consultancy Services Limited (TCS) is a ----------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------- services, manufacturing, chemicals, engineering, materials, government and healthcare. The major factors that are taken into account while planning the human resource planning are: -Schedule ---------------------------------------------- -Skills -------------------------------------- resources Some --------------------------------- factors: ---------------------------------------------------- the employees -Attendance ---------------------------------------------------------- -Team ---------------------------------- -willingness ------------------------------------- project Additional ---------------------------------: -Production -------------------------------------------- -economic conditions -------------------------------------------------------------------------------, or increase their workforce. Assessment of Human Resource Requirements in Tata Consultancy Services Limited (TCS) The Company viewed their employees as ---------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------. ESOP is one of the emerging tools to retain the employees with the Tata Consultancy Services Limited for a long time. In this situation, the management was --------------------------------------------------------------------------------- strategies as per their norms in order to meet employees' requirements as well as the targets setted by the company. To overcome the problem occurred, it is suggested by ---------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------to be placed in the other new projects. Developing human resource plan in Tata Consultancy Services Limited (TCS) The human resource plan can include the assigned ----------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------- areas of applied resources.
- 3. The following model relies on --------------------------------------------------------------------------- to overall business planning. Evaluation of Human Resource Plan in Tata Consultancy Services Limited (TCS) The above developed human resource plan can ----------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- -----------------------------------------------------------------------------------------------advantage in the marketplace. Human resource planning needs ------------------------------------------------------------------- process. It is not an end up process. The function is mean to ------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------- to be linked to and driven by those business or strategic goals. HR planning is lead by the HR ----------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------- "customers" of the HR department. It can't be effective ------------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------- and employees, its mission and issues, etc and the environment in which it works. Purpose of HRM policies in Tata Consultancy Services Limited (TCS) Human Resource Management -------------------------------------------------------------------------------------------------------, commitment to fair employment practices and equal opportunity, and the expectations of employees. HR Manuals are primarily -------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------of its employees, and describe lines of authority and levels of responsibility. The HR manual provides a means for -------------------------------------------------------------------------------------------- and practices established by the company. HR policies ensure that ---------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------the Company's responsibility to individuals and their responsibility to the Company. Impact of Regulatory Requirements on HR Policies Every country has its own regulations, -------------------------------------------------------------------------------------------------------------- -----------------------------------------------------------------------------------------------------------------------------------, comply with all applicable laws and regulations, both in letter and in spirit, in all the territories in which he operates. The impact of regulations on policies of firms ----------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------ to employ new hands thereby affecting the socio-economic fibre of the society. Forecasting of HR in TCS- By predicting requirements for HR ------------------------------------------------------------------------------------------------------------------ -------------------------------------------------------------------------------------------, training, and infrastructure development. Accurate forecasting also enables effective staffing. ------------------------------------------------------------------------------ ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------, number of employees in each department, productivity level, and past performance of each employee can be incorporated to enrich the predictive models.
- 4. Managers can understand the actual requirement --------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------that three of them will leave the organization. Therefore, the actual requirement can be calculated as: 60-50+3=13 Forecasting analysis can help predict --------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------to effectively address recruitment needs without encountering overstaffing or understaffing issues. Figures 4 and 5 show the forecasting --------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------recruitment. This gives the business the operational advantage needed for ensuring sustained growth. Attrition in roles associated with high --------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------- indices, attrition details, and life-time value, HR can arrive at the right profile for each potential employee. A statistical relationship between employee -------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------- scores, and reduce recruitment cost substantially, creating sustainable value for the organization.
- 5. While the employee value is estimated ------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------for final evaluation. To play a more relevant and strategic role in the organization, -------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------- as well as employee engagement and satisfaction. Predictive analytics might be uncharted territory for ------------------------------------------------------------------------------ ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------superimpose on their data to gain foresight. 2. Discuss the concept of ‘competency mapping’. Explain any two methods of competency mapping that you are familiar with citing suitable organisational examples. Competency mapping- Competency approach to job depends on --------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------- --------------------------------------- throughout the various processes (i.e. job evaluation, training, recruitment) of the organization. A competency is defined as a behavior (i.e. communication, leadership) rather than a skill or ability. Competency mapping is a way of ---------------------------------------------------------------------------------------------------. It's about identifying a person's job skills and strengths in areas like teamwork, leadership, and decision-making. Many competency mapping -------------------------------------------------------------- into two major areas: Functional Skills - Practical -------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------- is capable of carrying out his or her basic responsibilities. Behavioral Skills - Involves personal skills -------------------------------------------------------------------------- morale. Crafting questions and tests that --------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------. This type of testing is important for getting a complete picture of an individual's skill set. Competency Assessment - It is an ongoing process --------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------- - it just verifies that they know something. A typical assessment process involves following steps: Self ----------------------------------------------- ----------------------------------------------- reviews evidence Identify --------------------------------------- Needs On and Off the ----------------------------------------- Reassessment / Award Qualification Methods involved in competency mapping They are as follows- A. ---------------------------- - Assessment center is a mechanism to identify the potential for growth. It is a procedure (not location) that uses a variety of techniques ----------------------------------------------------------------------------------------------- ----------------------------------------------- observe specific job behavior. Since it is with reference to a job, elements related to the job are simulated through a variety of tests. The assessors observe the behavior and make independent evaluation of what they have observed, which results in identifying strengths and weaknesses of the attributes being studied.
- 6. Assessment center comprises a number ----------------------------------------------------------------------------------------- to replicate the task and demands of the jobs and to assess the strength and weakness & potential of the employees. Group Discussion: In this ------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------- and ideas and give them the experience of working in a team. In the work place, discussions enable --------------------------------------------------- of staff, and to acknowledge the staff as valued members of a team. In Tray: These types of exercise are ------------------------------------------------------------------------------------------------------ ----------------------------------------------------------------------------------------------------------------------- a new position or replaced their predecessor at short notice and has been asked to deal with their accumulated correspondence Interview Simulation / Role Plays: In these -------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------- our HR team allow the candidate a 15-30 minutes time to prepare for such a meeting and will be given a short, general brief on the conduct of the meeting itself, consideration are also be given to preparatory notes. Case Studies / Analysis Exercises: In this type of exercise --------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------- on such an exercise and their recommendation or decision is usually to be communicated in the form of brief written report and / or a presentation made to our assessors. B. ----------------------------------- - Like any other organization our organization uses interview in some shape or form as a part of competency mapping. The -------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------- and getting access to material otherwise unavailable. Biasness and restriction or distortion of flow of information avoided to our best while interviewing. Followings careful steps are taken in our organization during and after the interview: a) Before the actual interview begins, the critical ------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------- and form a scale to rate the responses. If there is more than one interviewer, some practice and mock interviews will help calibrate variation in individual’s interviewer’s rating. b) The second step taken is to scrutinize ------------------------------------------------------------------------------------------------------------ ---------------------------------------------------------------------------------------------------- areas. This procedure will make interview less removed from reality and the applicant will be more comfortable because the discussion will focus on his experiences. c) An interview is a face-to-face situation. --------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------. The interviewer can get a better response if he creates a sense of ease and informality and hence uncover clues to interviewee’s motivation, attitudes, feeling, temperament, etc., which are otherwise difficult to comprehend. d) The fundamental step taken is -------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------------------------------- this is by initially asking questions not directly related to job, that is, chatting casually about the weather, journey and so on. e) Once the interviewee is ---------------------------------------------------------------------------------------------------------------- again it is extremely important to lead up to complex questions gradually. f) Showing surprise or disapproval of speech, ----------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------- orientation can go a long way in getting to know the applicant. g) Leading questions should be --------------------------------------------------------------------------------------------------------------------. This may create a conflict in the interviewee, if he has strong view on the subject. h) The interviewers are prepared with precise questions, and not take too much time in framing them. Competency approach to job analysis- The competency based job analysis involves the following steps: 1. ------------------------------------------------------------- job functions.
- 7. 2. Identification of ----------------------------------------------------------------------------------------- functions. 3. Generation of several drafts to be ---------------------------------------------------------------- reflect the skills performed on the job. 4. Development of an occupational analysis chart. ----------------------------------------------------------------------------------------------- ---------------------------------------------------- job functions and skills. 5. Identification of performance standards for --------------------------------------------------------------------------------- of performance. Benefits of competency mapping- Competency mapping establishes --------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- -------------------------------------, but it also provides a well-defined path for learning new skills through cross-training and for moving up in the organization. Mapping core competencies to the skills potential employees already possess is another way that competency mapping can help a business. Including core and job-specific competencies in job opportunity announcements provides an objective basis for evaluating applications and weeding out unqualified candidates. Competency mapping can also shorten how long it takes to hire and reduce training requirements by allowing hiring personnel to bring in only those candidates who already possess or are well on their way to possessing core competency requirements. Example 1- Lynette D'Silva, Manager, Learning & Development, HR, Zensar Technologies----------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------ Successful In Their Roles. It Helps To: Support Specific And Objective ------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------- Development. Provide Development ------------------------------------------------------------------------------------------------------ Skills. Provide The Basis For A More Objective ------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------, And Career-Related Issues. "If An Individual Is Able To Discuss --------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------- In The Company," States D'Silva. Example 2- L&T Infotech, A PCMM Level 5 Company, -------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------A Transformation And Get A Broader Perspective Of The Company. For Instance, A Person Lacking In Negotiation Skills Might Be Put In The Sales Or Purchase Department For A Year To Hone His Skills In The Area. Example 3- Competency Mapping in BHEL - “BHEL has been a forerunner in HR ---------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------. He feels that the over the past few years, HR has undergone a major change, with focus shifting from maintenance to strategy. Nowadays, companies are better allied with business requirements, due to competency mapping, succession planning, etc.
- 8. 3. Define training and distinguish it from learning. Assume you are responsible for training of employees in a large organisation. Discuss how you will make training a strategic function. Illustrate. Training constitutes a basic concept in human resource development. It is concerned with developing a particular skill to a desired standard by instruction and practice. Training is a highly useful tool that can bring an employee into a position where they can do their job correctly, effectively, and conscientiously. Training is the act of increasing the knowledge and skill of an employee for doing a particular job. Definition of Training: Dale S. Beach defines training as ‘------------------------------------------------------------------------------------------------ ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------, and attitudes needed by a particular job and organization. According to Edwin --------------------------------------------------- the skills of an employee for doing a particular job’. Need for Training: Every organization should provide -------------------------------------------------------------- qualifications and skills. Specifically the need for training arises because of following reasons: 1. ----------------------------------- changes: Mechanization, computerization---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------- them with the latest technology and knowledge. 2. Organizational ------------------------------: With modern inventions, technological ------------------------------------------------------------------------------------------------------------- -----------------------------------------------------------------------------------------------------, training has become mandatory. 3. Human -------------------------------------: Every management has to maintain ------------------------------------------------------------------------------------------------------------------ ------------------------------------------------- to deal with human problems. 4. To match employee -------------------------------------------------------------------------- needs: An employee’s specification may not exactly suit to the requirements of the job and the organization, irrespective of past experience and skills. ---------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------. For filling this gap training is required. 5. Change in ---------------------------------------------: Training is also necessary when the ----------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------- new techniques and technologies. Importance of Training: Training of employees and ---------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------- to the employees such as improvement in efficiency and effectiveness, development of self confidence and assists every one in self management. The stability and progress of the organization ----------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------- essential to adapt according to changing environment. Types of Training: Various types of training can be given -------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------- training, vestibule training, and training for promotions.
- 9. Some of the commonly used training programs are listed below: 1. ---------------------------- training: Also known as orientation ---------------------------------------------------------------------------------------------------------------------------- ------------------------------------------- of an organization. It helps the employees to understand the procedures, code of conduct, policies existing in that organization. 2. --------------------------- training: This training provides an overview ------------------------------------------------------------------------------------- the entire job. Addition training is offered to employees after evaluating their performance if necessary. 3. Vestibule training: It is the training on actual work --------------------------------------------------------------------------- away from the work place. 4. ---------------------------------------: This type of training is offered in -------------------------------------------------------------------------------------------------------------------- ------------------------------- to upgrade the skills of employees. This training can also be used for promoting an employee. 5. Apprenticeship training: Apprentice is a worker who ------------------------------------------------------------------- supervisor. Training Vs Learning- It's important to understand the ------------------------------------------------------------------------------------------------------------ ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ----------------------------------very important as it can have a huge effect on the outcome of a course for the learner. Let's look at the characteristics of each, and see what makes an e-learning environment work. The characteristics of learning As mentioned above, learning is the process ---------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------ways to tackle tomorrow's issues. The characteristics of training Training on the other hand focuses -------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------------------
- 10. --------------------------------------provide their learners with the tools to tackle current issues, develop life-long skills, improve on their problem-solving skills and utilize resources to the best of their ability. The fundamental difference between training ------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------is based almost exclusively on directly developing the technical skills of employees. Yet the unpredictability associated with the contemporary marketplace and the increasing focus on the customer has elevated the importance of being able to solve unique problems and display initiative. To be flexible and enterprising is now a core capability of the modern employee. Apart from displaying appropriate initiative, the dimension of personal development and its impact on overall work performance is now widely understood and accepted. Today's workplace needs a more wide-ranging approach to HRD beyond the reliance on technical training. Personal development stresses an indirect link ------------------------------------------------------------------------------------ ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------people make capable employees in a variety of contexts. For example, training programmes that improve people's mastery of themselves – such as courses on goal-setting, personal motivation, time management, and emotional intelligence – can have a resultant pay-off in terms of increased productivity. Problem-solving approach focuses on improving employees' ability to solve problems. This approach improves employees' ability to make more effective decisions on the job. ------------------------------------------------------------------------------------------------------- --------------------------------------------------------- between problem-solving capability and organisational performance. For example, topics such as creative problem-solving techniques, research skills, or analysis of typical workplace case studies can develop problem-solving capabilities. Notwithstanding that there are three ---------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------their learning interventions. Example- The organization of referring here is HCL. Induction training is an important component of the training life cycle. Induction Training for new hires is -------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- --------------------------------------our training to suit different levels i.e. Entry Level hires and Lateral hires. 1. Entry Level Training At HCL, all Campus Hires undergo a ----------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------------------
- 11. -----------------------------------------designed for entry-level trainees to apply the technology learning’s they have acquired during the trainer-led classroom-training program. By applying a blend of technology and --------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------the globe. On the successful completion of the training program, the trainees are assigned to Delivery units’ for further LOB specific domain trainings and on the job training. 2. Lateral Hires Training The Induction program typically ----------------------------------------------------------------------------------------- you immersed into the HCL culture / philosophy and engagements. The engagement specific induction might extend from a few days to a few weeks depending on the nature of the engagement. Lateral hires are trained through various means such as online training, collaborative learning, certification programs, instructor- led and on-demand training. HCL has identified roles at ------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------with top global virtual learning organization to allow for greater reach and ease 4. Discuss the motivational aspects of reward system in an organisation. Analyse the recent trends in reward system in Indian organisations and suggest measures to improve. An employee's performance typically is influenced by ----------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- -----------------------------------------------------------conceptualize motivation more completely: need-based, process-based, and reinforcement-based approaches. In today’s environment -------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------- in all type of organization. Reward Management is concerned with the -------------------------------------------------------------------------------------------------------- --------------------------------------- fairly, equitably and consistently in accordance with their value to the organization
- 12. Key factors governing motivational aspects of Reward Management Support the --------------------------------------- ----------------------------------------- retain ---------------------------------employees Internal ------------------------------ equity ------------------------------------------------------------- Financially ----------------------------------------- --------------------------------------- with legislation ---------------------------------administered Basic Types of Reward -------------------------- rewards satisfy -----------------------------------, security Pay, ------------------------------------------------- ---------------------------------------------------- satisfy ---------------------------------------------------, development Recent trend of reward systems in India. The current trend is one of integrated reward approach. --------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------- (recognition, promotion, praise, achievement responsibility and personal growth) and in many case a system of performance management. Pay arrangements are central to the cultural initiative as they are the most tangible expression of the working relationship between employer and employee. Role of Compensation and Reward in Organization: Compensation and Reward system plays ------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------wages from the process. It is evident that other factors are in-human factors and as such labour plays vital role in bringing about the process of production/business in motion. The other factors being human, has expectations, emotions, ambitions and egos. Labour therefore expects to have fair share in the business/production process. ENHANCING MOTIVATION IN ORGANISATIONS. Managers may influence ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------- specific interventions derived from one or more theories. Organizational Reward Systems. The organization's reward system is ----------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------- performance is defined, evaluated, and rewarded. An organization's primary purpose in giving rewards is to influence employee behavior. Effects of organizational rewards:
- 13. Organizational rewards can affect --------------------------------------------------------------------------------- describes four major generalizations about employee attitudes toward rewards. Employee satisfaction is affected ----------------------------------------------------------------------------------- by others. Employees ------------------------------------------------------------------------------- by others. The system recognizes that ---------------------------------------------------------------------------- satisfy those needs. ------------------------------------------------------------ systems: Organizational reward systems have traditionally ---------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------incentive systems include profit sharing, gain sharing, lump-sum bonuses, and pay for knowledge. Interventions for enhancing motivation. Three motivational interventions are behavior modification, the modified workweek, and work redesign. Behavior modification ---------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------- conform to a traditional eight-hours-a-day, five-days-a-week design. Some alternatives include the compressed workweek, flexible work schedule, working at home and job sharing. Changing the nature of people's ----------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------------------------------------------------------------- ------------- approach, and autonomous work groups-could be used as part of a motivational program. Application of Reward System in Indian Context- Organizational rewards include both ------------------------------------------------------------------------------------------------------ ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------of personnel that the organization is able to recruit, hire, and retain. Further, rewards have a motivational effect on both individuals and groups. While rewards serve a valuable purpose for both the employer and the employee. To support my answer I am referring MSA Safety Pvt. Ltd. Company which produces safety products. MSA Company typically relies on reward systems to do four things: 1) Motivate --------------------------------------------------------------------, 2) motivate --------------------------------------------------------------------------------------, 3) ----------------------------------------------------------------------------------------- to work, and 4) Motivate --------------------------------------------------------------------------------------------- structure. RECENT TRENDS – A FEW EXAMPLES It’s an annual affair at Genpact to -------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- --------------------------------------for the ideal mix of non-compensation rewards to retain leaders. Retaining and rewarding leadership is a hot button issue facing most organizations. Increasing complexity of hiring leadership talent in the face of burgeoning ------------------------------------------------------------------------------------------------------------------. “The only way to reward and retain top leadership is by sharing the success of the company with them.
- 14. It is common to see firms ring fence ------------------------------------------------------------------------------------------------------------- in the form of retention pay, deferred bonus plans, stock options and shadow options. Companies are arriving at a reward system, which is linked with the company’s performance. As a business leader in -------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------- too, it works well as it makes leaders conscious of the fact that they carry the weight of the organization. Employee stock plans offered by Indian ------------------------------------------------------------------------------------------------------------ ----------------------------------------------------------------- with a belief that they are making a difference to the fortunes of the organization as opposed to large MNCs where the India business is still a small percentage of their overall numbers. The attractiveness quotient for ---------------------------------------------------------------------------------------------- “employee millionaires”, analysis caution, relying on generous compensation as the only strategy for retaining your key resources is a sure shot recipe for disaster. There is interplay of multiple factors ------------------------------------------------------------------------------------------------------ ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------informed business decisions and above all eliminates the fear of failure. HR fraternity believes ICICI Bank has done well ------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------- is growing more rapidly when compared to HDFC Bank and there is a great passion at work one can experience with senior people in ICICI group. REWARD SYSTEM IN COMPANY: COGNIZANT A company gifting a small mug or a T------------------------------------------------------------------------------------------- decided to leave the organization. But, for those staying on, such gifts can make a lot of difference. Giving instant gifts to reward ---------------------------------------------------------------------------------------------------------------- centers in India, have used the instant reward scheme to motivate their employees. ‘Out wehing Others’ Wahl Cognizant is an incentive scheme for Cognizant’s employees. The instant reward is for contributing to the company, above and beyond the call of duty or for any ------------------------------------------------------------------------------------ for employees, such as iPods, cruises to the Bahamas, chartered trains to Pondicherry and chartered flights to Malaysia. Designed on the lines of a frequent flyer -------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------such as training, knowledge harvesting, recruiting, participation in quality audits and assessments and external certifications quality for reward points based on certain defined parameters. “Wah! has been a big hit in Cognizant, so much so that --------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------------associates have been awarded Wah! points that can be redeemed for Cognizant branded merchandise. As one enters any of Cognizant’s offices, the branded merchandise is prominently displayed to remind and motivate employees to earn the gift of their choice, he says. This motivation prompts them to excel and take advice interest in contributing to multiple areas such as certification, quality or training. Even prospective applicants or interviewees notice the array of gifts that adorn the reception area
- 15. To buy MBA assignments please use below link https://www.payumoney.com/store/#/buy/kian-publication For other Information please click on below link http://ignousolvedassignmentsmba.blogspot.in/ KIAN PUBLICATION Whatsapp- 9580039150 ignousolvedassignmentsmba@gmail.com kianpublication1@gmail.com ignou4you@gmail.com