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THE DIFFICULTIES IN RECRUITING, TRAINING, MOTIVATING AND REWARDING STAFF IN A GIVEN FINANCIAL SERVICES COMPANY - Essay Example
Human resource management (HRM) is a vast area and its theory and practices provide understanding the organization and its employee's problems. It is based on organizational behavior and it includes several issues including Safe, Healthy and Happy Workplace, management style, performance reward and bonuses, evaluation or appraisal system, feedback system, knowledge sharing and exchanging of ideas and taking opinion of the employees and so on.
ensures that the employees are as enthusiastic about the business and they are devoted towards their organization.
Involving employees in taking decision for the company and their opinion for making improvement leads company to success. If top management involves their employees in company's affairs, they will feel recognition and self respect and they will perform even better. It also helps in building trust and motivates employees.
Bonuses or reward can also be a good and effective way to encourage and motivate employees. Through this process, they will get to know that, they are performing well in the organization and they are beneficial for the company as well. Bonus must be designed in such a way that people or employees understand that there is no payment in terms of bonus unless the company gets the profit and also exceeds the level of profitability. Bonus and reward is also based on team's success and the individual's performance.
Feedback is also an important factor in HRM process. If an employee or a person is performing well, he will participate to enhance or Increase Company's productivity. ...