Latest Trends in Workplace

¶ … Workplace Key Functional Areas of HRM The entire aim of the human resource management function is to augment the personal and joint productivity of the employees and deliver stellar results for the organization. The key components of a human resource management are: Retention Development Succession But in the past few years, human resource characteristics are becoming more complicated and broad to say the least.

Simultaneously, the focus has been on the fact that human resource practices are aligned with strategic direction of an organization (Sasks School Boards Association, n.d.).Human resource management has the knowledge of the dynamics and practices to implement in a work environment while regulating employment relationship. HRM has five areas in its domain: Staffing Staffing deals with hiring candidates with the proper skill set, knowledge and experience to satisfy the job requirement in an organization. Related practices include job analysis, recruitment, selection and human resource planning (Salawu, n.d.).

For instance, people are interviewed and shortlisted in this phase and a salary is decided keeping experience in mind (Laura, 2012). Rewards and compensation It consists of breakdown structure and design of reward systems. Methods consist of job evaluation, benefits and performance appraisal (Salawu, n.d.). HRM professionals should decide if reimbursement is fair and keeps the employees motivated whilst matching the market standards. Compensation consists of rewards for employee's work. HRM professionals should ensure that salary is competitive and meets the market standards (Laura, 2012).

Instances of employee compensation consist of below mentioned: Health Benefits Salary 401k (retirement plans) Stock purchase plans Vacation time Sick leave Bonuses Tuition compensation Employee Development This deals analyzing training requirement for guaranteeing that employees have the necessary skill set and knowledge to perform in their designated capacity and progress within the organization. Performance appraisal notices level of performance and key skills of an employee (Salawu, n.d.). This produces higher productivity for the company. Training is essential for motivation for an employee.

Employees who think that they are learning and earning, whilst employed drives their productivity higher, which ensures employee retention (Laura, 2012).Instances of training program consist of the below mentioned: Training communication Team building program Policy and legal training: Includes ethics and sexual harassment training Employee Maintenance Safety is a critical aspect in every organization (Laura, 2012).

Worker safety concerns may comprise the following: This is in regard to monitoring and administration of office place safety, welfare laws, health laws for ensuring the competency of employees whilst complying with standard procedures and rules (Salawu, n.d.). Safety is a huge consideration for every organization (Laura, 2012). Employee protection issues consist of the mentioned below: Discretion of private employee information No fragrance zones Chemical hazards Ventilation and heating requirements Employee Relations In this category, many employee participation / involvement schemes are covered for both union and nonunion office places.

In a union based office, negotiations takes place between union and management representatives over the employment contracts enacted (Salawu, n.d.). Equal Employment Opportunity Laws Being in the banking industry, the necessity of equal employment was becoming increasingly obvious with the passage of time, male dominated the banking field. Certain countries have nondiscrimination laws in place. Some have one line laws while others have very detailed and lengthy laws to cover nondiscrimination in its entirety. Many elements of nondiscrimination are covered in it.

Sometimes, nondiscrimination laws are practiced weakly and just a memo in organizations. In such conditions, enterprises that take standards of nondiscrimination in serious consideration often comply with international bylaws and best practices regarding nondiscrimination for keeping in touch with standard behavior.

Sometimes, cultural and social expectations are slow in case of discrimination, hence international and national standards are slow to respond to present practices required for nondiscrimination (International Finance Corporation, 2006).Nevertheless, common themes exist in both national and international laws, not to forget public and private sector with respect to equality in office practices. For instance, banking industry is male dominated basically. With the application of these laws, discrimination can be ironed out of the organization.

The Pregnancy Discrimination Act As per the federal law, it is prohibited to discriminate a woman due to her pregnancy factor, childbirth and other arising medical conditions connected to childbirth and pregnancy. As per the law, it is prohibited to react to a person who has filed a complaint against an offender, filed a discrimination charge or took place in any employment discrimination lawsuit and investigation (U.S. Equal Employment Opportunity Commission, n.d.).

Title VII of the Civil Rights Act of 1964 (Title VII) According to this law, employees can't discriminate on the basis of race, religion, color, caste and nation or even sex. The law also prohibits reacting against another person who complained with respect to discrimination, filing a discrimination charge and even taking part in an employment discrimination case or lawsuit. The law upholds the employers to respect their applicant's religious beliefs and give them room until and unless it creates a problem for the employers or business at hand (U.S.

Equal Employment Opportunity Commission, n.d.). The Equal Pay Act of 1963 (EPA) The law also negates different rates of wages to men or women, if they work side by side in the same office place. The law renders it illegal to react to a person who filed a discrimination complaint, complained about discrimination or even took active part in employment discrimination lawsuit or investigation (U.S. Equal Employment Opportunity Commission, n.d.).

Trends affecting organizations Aging Workforce: Due to dearth of skilled employees in professional market as new labor is raw and inexperienced, most companies have to resort to keep their senior employees in place and employ them beyond their retirement age. The extra perks of such jobs are part time employment are working certain number of hours / week and sometimes project by project basis. Meanwhile, employees find it interesting to work in nonconventional work arrangements (IBM Corporation, 2004).

My bank has formed a policy where retired professionals are hired for their valuable services where they work for certain amount of hours depending upon the condition required. Most employees in this arrangement are beyond the fifty year bracket and continue longer. The program has been beneficial both ways, for the company and the professional as experience goes in use and so does the professionals.

Diversity: Companies should be paying more attention to diversity and ponder ways for being all inclusive organizations since diversity has the benefit of producing maximum productivity and create competitive edge. With the advent of globalization, people are hailing from a broad variety of background, cultures, religions and traditions than previously. My bank embarked on a cross cultural recruitment program, specifically for meeting the changing trends of diversity and maximizes creativity along with productivity.

However, there were certain hindrances along the way for instance: Stereotyping Discrimination Prejudice These issues arose with respect to religion and racial distinctions (Green, Lopez, Wysocki, and Kepner, 2008). Skill Deficiency: For overcoming the issue of skill deficiency, my organization has initiated about coaching and training sessions with considerable investment to provide the workers with soft skills for particular office place requirements. These programs are organized to provide the essential training skills to augment the productivity of an office pace.

It makes sense to train employees rather than hiring the productive employees. Workplace Flexibility Organizations frequently introduce certain office place flexibility methods to give flexibly to their employees. Flexible work timings and telework are some of the well-known and commonly applied flexibility practices. Workplace flexibility allows the employees to work according to their own personal comfort and engage in office activities (Coenen & Kok, 2014). Flexible Work schedules: With the help of flexible work timings, which is known as flexi-time, the employees can decide.