Legal Environment/Total Rewards
Resizing organizations must have a good idea of where they want to go and ensure to the best of their ability that they will be able to convince employees that this new direction is desirable for all parties involved. First, organizations need to gather information concerning what psychological contract obligations employees perceive as being most valuable. Probably the best way to do that is to gather feedback from an employee survey. In essence, organizations need to know what employees want if they hope to retain and motivate the key people in their workforce. Understanding what employees value most will allow an organization to be more prudent in the implementation of its resizing efforts, because organizational leaders will be better equipped to minimize the number of employees who perceive serious psychological contract breaches.
The organization must constantly monitor the changing need structure of its employees. This process should be tied to the strategic direction of the organization. Human resource managers need to be aware that as the strategic direction of the organization changes, the operational design of the total reward package and its method of implementation (performance assessment) also must change in order to increase the likelihood that it will satisfy the needs of employees. By looking at all of the total reward dimensions (for example, pay, benefits, and employee development), the organization may be able to satisfy the needs of a larger number of employees during resizing (Trahant, 2007).
In addition, human resource managers are facilitators for many of the resizing benefits provided to employees who are being displaced, as well as to employees who remain with the organization. For example, the human resource staff should schedule outplacement services, coordinate employee severance packages, and provide counseling services to assist layoff victims. To respond to the needs of surviving employees, the human resource staff should engage in activities such as providing counseling, updates on new compensation packages, and additional job training.
When there have to be changes in the psychological contract, employers should look...
Total Rewards: Compensation That Encourages Developing a more comprehensive and conscious reward system can be an excellent way to motivate employees, to maintain and exceed ethical human resources management practices, and to attract and retain top talent through performance-based compensation. There are also several legal considerations that need to be taken into account before implementing such a system, however; though it might seem odd that trying to give employees more could
Legal Environment/Total Rewards: A Changing Landscape In the race for profit, employee pay has traditionally been seen by businesses as a competitive liability, and the trend for much of the 20th century was for employers to search for the cheapest, most efficient labor to protect their bottom line. Because of this approach, the U.S. government took several steps during the 20th century to protect employees from extortionary measures by employers to
Human Resources: Legal Environment -- Total Rewards A modern HRM consultant must be aware of the array of possible employee benefits. The modern trend is away from traditional notions of benefits and toward benefits that enhance the lives of employees and their productivity for the company. Two of the many possible modern benefits are training and educational opportunities and wellness programs. As specific examples will show, despite the several challenges of
employee rewards has been increasingly brought to the forefront. This is because globalization is creating a shift in how firms are operating by requiring the utilization of specialized skills. These individuals are necessary for a firm to be able to adjust with changes inside the marketplace and new competitors. As a result, a number of organizations have begun focusing on transforming compensation strategies to address these needs. To fully
Macro-Environment Socio-cultural and demographics Demand for green products Legislation Economic environment Technology Business Level Strategy Protection from the Five Forces Threat of New Entrants Competition Substitutes Supplier Power Competition The building of relationships Business partners/transactions Strategic management Improved value chain Inbound logistics Manufacturing operations Outbound logistics The sales and marketing techniques The virtual value chain The macroeconomic environment of any enterprise is indeed a very vital thing to all the operations of the enterprise. This is brought about by the fact that both the present and the future operations of the business
Internal & External Forces The author of this report is asked to answer to a number of questions relating to the forces that exert themselves on a nursing or other medical organization, the source of the forces and what effect they can have on outcomes and decision-making in a medical organization. There will be total major internal forces, two major external sources and an overall assessment of the impacts these forces
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