Multiple Stakeholders of Human Resource

¶ … multiple stakeholders of human resource management? Briefly state why they care about how an organization manages its employees.

The organization's managers have their careers at stake in the success of the organization, as well as their own future employability. They thus wish the organization to flourish, and organizational prosperity is linked to having quality employees. All employees wish to have appropriate compensation for their work in an environment that treats employees with fairness and respect. They wish to work side-by-side with colleagues who are well-matched in their attributes to the organizations' mission and function. The shareholders of a corporation wish the organization to thrive, and quality individuals are required for this goal to be achieved.

Explain the consequences of effective vs. ineffective recruitment. Include consequences that are relevant to at least two stakeholder groups.

Ineffective recruitment draws incompetent or ill-matched employees to an organization. Employees are constantly unhappy, often without knowing why, because they know they are miserable every day coming to work in an atmosphere that is in conflict with their personality, or because they are called upon to perform tasks they cannot adequately accomplish. Ineffective recruitment may also create an understaffed workforce in certain areas of the company, making it difficult for current employees to accomplish basic tasks. Managers will find it difficult to achieve their goals without effective or enough employees. Effective recruitment draws the right types of personalities with the necessary skills and enthusiasm to the company, and also ensures that enough employees are present to handle all required tasks without undue strain.

What does it mean to say a "selection procedure is valid?" Besides validity, what other issues do companies need to consider when developing their selection processes? What criteria does your company use in selecting new employees?

A selection process is valid when it achieves its objectives and the objectives are well-matched to the tasks the employee must fulfill -- for example, a selection process designed to recruit individuals from Ivy League schools for managerial positions through intensive networking and interviews at these schools is not necessarily a good idea, even if the objective of increasing Ivy League recruitment is achieved. Why is it assumed that this type of education is necessary for the position? A selection procedure must evaluate whether the criteria emphasized in current job descriptions -- such as creativity, a proven track record in the industry, a good personality fit for the company, results in improved performance and then use these redefined guidelines in the selection process.

What are the most difficult challenges in conducting performance management? What are some important considerations in giving performance feedback?

Performance management can be overly subjective -- personality rather than actual achievement may determine rankings, or the superior conducting the review may not be a good judge of character or the tasks necessary to shine at a given occupation. However, narrow quantitative measurements of performance (such as sales figures) may not adequately assess the employee's success in the given environment at the time or encapsulate qualities such as teamwork. Regardless of the difficulty in striking a balance between objective and subjective measures of performance, and whether negative or positive, performance management must be consistent, timely, and specific to result in real improvements in employee behavior.

Describe the strategic importance of training and development.

Training sets the tone of the organization: it sets expectations regarding performance and also interpersonal expectations of appropriate behavior at the firm, such as tolerance of diversity. Development activities keep the best people at the company, and ensure that the initial investment in training was worthwhile.

Describe several performance-based pay plans. How do these plans maximize an organization's effectiveness?

The most obvious type of performance-based pay plan is a plan based upon commission sales -- employees are rewarded for performing a specific action. Other performance-based pay plans reward employees if they meet certain benchmarks, or garner a series of positive performance reviews. These reviews may be based upon customer, supervisor, or peer ratings.

What three actions would you recommend to your company to improve its approach to managing human resources? Explain how these actions could improve company's effectiveness.

Better use of part-time employees at my real estate firm is a priority. Many agents currently work at other jobs, but there must still be a general sense of company character and 'mission.' Also, having a more diverse range of agents will enable the firm to better understand a wider range of client needs. A greater sense of teamwork is needed, even while the office seeks to diversify in its scope.