It was Equal Pay Day on 24th March that represents the raising awareness about the gender pay gap. In India, the awareness is still at a low level, because we are dealing with pressing issues like women education and employment. But on an international map, the day was a symbolic gesture of bridging the pay gap between genders. Every country puts different formulas to mark the day hence, diff...
“Human Resources are like natural resources, they are often buried deep, you have to go looking them, and they are not just lying around on the surface. You have to create the circumstances where they show themselves”- Ken Robinson
HUMAN RESOURCES MANAGEMENT PRACTICES
Managing Human Resources is challenging as compared to managing technology or capital market. To manage Human Resources effectively, best HRM practices must be put in place. According to latest survey these are the best HRM Practices over the recent years.
Human Resources Information System:
HRIS is used to keep a track of payroll, employee tracking, recruitment and training in place. HRIS users use the system to track the strategic and demographic employee data. In a recent survey Payroll tracking topped in HRIS. Other functions that are included in HRIS are – Employee Benefits, PTO and Leave tracking, Compliance filings, Performance appraisal, etc.
It is getting tougher to retain the skilled and qualified employees due to the changes in US labour market. This is known as work place meltdown. Now, it’s time for employers to rethink about new recruitment resources, employee benefits, non-traditional work environment, now they should try to think about the old employees who have left the organization to get them back to work.
To attract and keep up your employees, employers need to provide them with best healthcare benefits that are least comparable to what your competitor has to offer. Increase health insurance coverage; expand federal health insurance market requirements.
Recruitment & Applicant Tracking:
There are innumerable sources that can be used for hiring a qualified applicant, but it is necessary to match the hiring tools according to the position being filled.
Retirement Benefits: Phased retirement concept may help the employers to meet the changes in workforce demographic. If there’s a baby boom retirement, there would definitely be shortage of skilled workers; however the employers can provide phased retirement to the employees. There are quite a few options of phased retirement.
Health & Wellness Benefits:
Employers can provide the workforce with some best health and wellness benefits; these include voluntary screening of blood sugar, cholesterol and other risk factors, gym membership, discounted health insurance for non-smokers etc.
The employer must do the background checks carefully as background check requires money, time, and resources. Sometimes it can be inaccurate too, so, need to carefully determine which position requires background check. Do not inquire about the criminal records during initialization of application; instead freeze the same until placement to save cost and resources. Include in job application that conviction is not an automatic bar to employment but subject to continuous scrutiny of employee’s behaviour at regular intervals.
Pre-employment & Employee testing:
Pre – employment tests are method to predict how an applicant would perform, if hired. Employer should administer tests and selection procedure without any regards to race, colour, nationality etc. Employer should ensure that the employment test, selection methods must validate the position and the purpose for which they are being used.
To ensure that the selection process remains predictive of success in job, employer should keep abreast of changes in the job requirements and make necessary changes in the test and selection procedures.
Recognition, Rewards and Incentives:
Recognition of employees is more important in the work place. Most of the attrition is due to lack of recognition and poor incentives. Employer should include bonuses in pay package also monetary rewards must be included for excellence in performance. Timely incentives would keep the employees happy and the employer also wouldn’t have to worry about skilled employee leaving the company, as the attrition rate would be less.
Timely performance appraisal by the employer would let the employee know where he stands in the crowd; also it would be beneficial for employer with regards to promotions, rewards and recognition. The only thing that is considered as hindrance to appraisal would be any criminal case pending against the employee.