Employees Perceive HRM Practices

Question: Discuss about the Employees Perceive HRM Practices. Answer: Introduction Human Resource Management has become one of the most important branches of an organization in the current world, where the need for recruitment and retention of talent is the key factor for success. With the increasing number of graduates, globalization and inter-continental studies, it has is necessary that the organizations around the globe have the facility to filter and select the right candidates for a job, retain these candidates and take care of all their grievances. HRM is also responsible for the performance of an employee during their time in the organization, which includes training and development activities that help the employee grow and increase their value within the organization. To achieve all the above there are several practices adopted around the globe. Some of the top practices are discussed below. Best HRM Practices This is a system rather than a task and hence has to be set in place. Best practices in performance management are Helping an employee understand what is expected of them in the beginning of a performance cycle (Caligiuri, 2014) One on One with manager to set clear goals and timelines Monthly review of goals and milestones reached Managerial feedback regularly (Alfes, 2013) Clear analysis of goals post performance cycle Identifying key success and setbacks to appraise the employee Recognize and reward top performances at team and organization level Help the employee to develop a plan that would overcome their previous set backs (Xing, 2016) Limitations: Some of the limitations could be that the employee goals are not aligned with organizational goals which would make goal setting difficult. Managers have to view each employee by their individual potential rather than a percentage resource (Ahlvik, 2015). If expectations are not clearly set, employee may work for the wrong goals in a cycle. Training and Development Professional growth is a result of training and development that is provided over the years to an employee as a part of their tenure in an organization. Several employees value growth opportunities rather than monetary gain and hence it is necessary to have a strong training and development initiative in place. Demand based training: Certain projects require new and novice skills and based on these demands training can be arranged to a certain number of individuals as they are costly. These training would make the employee feel special and at the same time increase the value of the organization (Veloso, 2015). Required Training: Each quarter HR takes feedback from the employee to understand the training that the employees expect to learn. Based on the highest demand a particular training is provided through external agencies if required. Internal Trainings: As a boost to the existing employees, several key employees are given the opportunity to train new skill recruited (Cooke, 2014). Compensation Strategies Compensation is crucial in retaining employees. Below are some of the compensation strategies that turned out be some of the best practices Seniority based compensation: A percentage hike of salary is paid as a tribute to the loyalty of the employee there by recognizing employees who are dedicated to the company (Pillai, 2016) Performance payout: It is a variable pay usually given per quarter recognizing the efforts of employees Overtime and Shift pays: paid for extra effort put in by the employee Shares: Company shares are given as a part of the package thereby reaping the benefits of a profitable organization which also boosts the morale of the employee (Donate, 2016) Talent Acquisition and recruitment This is where the HR management communicates with the world outside in search of potential candidates. The world today is facing a workforce meltdown, where the number of young recruits are few in comparison to the retiring candidates (Furusawa, 2016). In a condition as such it is necessary that the right talent for each job is identified and are recruited by offering the right compensation. The need to recruit High Skilled Knowledge Workers is at a zenith and talent acquisition is one of the major HRM practice (Giauque, 2013). This is the most tedious task for a HR management and hence has several ways to identify and recruit talent in the organization Method Advantages Limitations Referrals: This method usually uses the contacts of existing employees to find the right candidates and pays a bonus to the employee who helped identify the talent (Theriou, 2014) Low cost even when bonus is given Employees would know if a candidate would fit into the organizational culture Boosts the morale of the referring employee Arguments over the selection of candidates between employees and HR if a candidate is not chosen Chances that employee would refer not so talented sources Social Media and Internet. Posting ads and using sources such as LinkedIn Negligible Cost High number of audience Global reach Cannot be used in case the organizations are searching for employees who are not computer literate Screening could be difficult because of the volume Search Agencies High number of potential applicants Costly Campus Recruitment Best for entry level jobs Excellent PR for the organization Ambitious and passionate candidates can be picked Costly Time Consuming Job Fairs Easy to locate employees looking for immediate recruitment (Bjrkman, 2014). High Diversity Costly Open House The employer calls for applications. Hence has candidates that are interested in joining this particular organization. High number of positions can be easily filled Costly Candidates who are not looking for this particular organization may not be aware of the recruitment Need for high number of interviewers Time Consuming Banners, signs and advertisements Good PR Costly Restricted to Geographical locations Conclusion HRM plays a key role in any organization and several practices available worldwide are selected based on the organizational values. Each of these practices is unique and employee beneficial to ensure that the organization grows to work with talent and right minded people References Ahlvik, C., Bjrkman, I. (2015). Towards explaining subsidiary implementation, integration, and internalization of MNC headquarters HRM practices.International Business Review,24(3), 497-505. Alfes, K., Truss, C., Soane, E. C., Rees, C., Gatenby, M. (2013). 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