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Human Resources Management: Challenges and Controlling Mechanisms

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ING Group Greece - Sidma SA - Telesis Securities

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  1. Abstract.
  2. Introduction.
  3. Defining Human Resources Management.
  4. Human Resources Management features.
  5. Planning.
  6. Recruitment and Selection.
  7. Training and Development.
  8. Some of the most commonly used performance evaluation methods.
    1. Graphic Rating Scale (for existing employees).
    2. Assessment centres (for newcomers).
    3. Compensation and Benefits.
    4. Supervision.
  9. Pension Program.
  10. Social Responsibility Policies.
  11. Open Door Policy.
  12. Equal Employment Opportunity Policy.
  13. Challenges in Human Resources Management.
  14. Human Performance Technology (HPT) Model.
  15. Conclusions.

Organizational Psychology holds that successful organizations focus not only on market realities and sustainable competitive advantages, but also on their human capital, which they consider as their most vital asset. In a sense, facts and figures are the quantitative elements of a successful management; yet, the qualitative cognitive aspects are those that may actually make or break an organization. This paper emphasizes on the challenges that Human Resources Management face as a success factor of modern organizations and on the controlling mechanisms used to anticipate these challenges effectively. Organizations are complex and as such they require convergence, combination of diverse organizational competencies, and collaborative efforts.

Keywords: human capital, human resources, employee motivation

[...] Compensation and Benefits Compensation is an activity of Human Resources Management related to rewarding motivation. Bonus, salary/wage, overtime paying, and vacation days are some examples of the compensation policies applied by modern organizations. Normally, bonus is given to all employees after six months and it is based on the departmental evaluation and on how long an individual is employed in an organization. Employees who work overtime are rewarded depending on how many hours they have worked. Salary increases are made according to law regulations except if the organization believes that a certain employee deserves more. [...]

[...] Performance Evaluation As competitive pressures increase employers are more and more interested in differentiating employee performance levels, addressing poor performance and using performance appraisals as constructively as possible. Performance appraisals are used for: Identifying a job performance that should be discontinued or reinforced Identifying employee training needs Providing a realistic assessment of an employee's readiness for promotion Serving as the basis for awarding merit pay Allocating organizational resources properly Facilitating communication between employee and administrator Some of the most commonly used performance evaluation methods are: Graphic Rating Scale (for existing employees) The most common form of performance appraisal for existing employees is the performance scale. [...]

[...] In section the challenges of Human Resources Management are investigated and explained along with controlling mechanisms for their anticipation. Conclusions are presented in section 4 while references and appendix complete this paper. Defining Human Resources Management Human Resources Management is defined as the strategic approach to the management of the employees, the most valuable assets, who individually and collectively contribute to the achievement of the strategic objectives of an organization (Armstrong, 2006). In particular, Human Resources Management assumes that the employees of an organization are individuals with own mental maps and perceptions, own goals and own personalities and as such they cannot be perceived as a whole. [...]

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