What is a bonus?
Bonus is the extra payment, or financial component received as a reward for doing one’s job well. The bonus usually comes along with the salary of the employee. It is a gesture of appreciation from the organization toward their employees.
What are the types of bonus components?
The various types of bonuses which can be paid to an employee are:
1. Performance Bonus
2. Festival Bonus
3. Referral Bonus
4. Joining Bonus
5. Retention Bonus
What is job analysis?
A job analysis is a process used to identify the tasks, responsibilities, skills, objectives, and work environment needed for a specific job.
What’s the purpose behind job analysis?
The data from the job analysis can help HR leaders draft clear job descriptions more straightforwardly and organized. Hence, the candidate has a clear picture of the skills, experience, and other things required to perform the job.
How does job analysis help in assessing training and development requirements?
After a job analysis, if the employer notices a visible gap in the actual and expected outcomes on a job, then there might be room for improvement through training and development. The job analysis will clearly show which areas need further development. It will help to choose the training and development tools or methods to implement in organizational learning.
What is a job description?
A job description describes the duties, responsibilities, required qualifications, and reporting relationships of a particular role.
Why are job descriptions helpful?
Job descriptions provide a clear understanding of the duties and responsibilities of a particular position. This is helpful for applicants interested in the role and management to determine better the actions needed to achieve organizational goals.
What are the essential components of a job description?
The essential components of a job description are:
- Job title
- List of responsibilities and duties
- Skills and competencies required
- Salary and other benefits
What is job rotation?
Job rotation is the structured interchange of employees between different jobs, requiring them to rotate between different workstations or jobs at certain time intervals.
What are the benefits of job rotation?
Implementing job rotation helps to increase innovation and improve work process efficiency. In addition, by being exposed to different jobs, the employee skill base improves and increases job assignment flexibility over time.
What are the potential barriers to job rotation?
While not all jobs and departments are a good fit for job rotation, at the same time, some employees may not want to rotate because they have an “easier job.” Employees may also feel threatened by losing their jobs to other colleagues.
Job performance evaluations
What are employee job performance evaluations?
Job performance evaluations are a formal, regulated assessment mechanism in which managers and key stakeholders evaluate an employee’s work performance. The purpose is to learn more about their strengths and weaknesses, offer constructive feedback for skill development in the future, and assist with goal setting.
What’s the purpose of job performance evaluations?
Job performance evaluations help an employee to understand their strengths and weaknesses through constructive feedback.
How do job performance evaluations help team leaders?
Job performance evaluations allow leaders to understand the employee’s strengths and motivations better to improve overall team performance.
What is negotiation?
Negotiation is a strategic process of agreeing between two or more individuals, teams, or groups. During a negotiation process, an issue is addressed, a problem is resolved, and a conclusion is derived.
What are negotiation skills?
An effective negotiator uses negotiation skills like active listening, asking the right questions, simply communicating the problem and solution, and quick yet efficient decision-making.
How do negotiation skills help HR leaders?
Strong negotiable skills help HR leaders to:
- Listen to the wishes of all employees and act accordingly
- Achieve the best result from negotiations
- Focus on developing good relationships
- Work on realistic proposals and avoid conflict
New employee onboarding
What is new employee onboarding?
New employee onboarding is the process of integrating new employees into the organization. This mainly involves familiarizing your new employees with their workspace, company policies, and company culture.
How does efficient new employee onboarding improve employee retention?
The first impression the organization makes on the hire can have a significant impact on their long-term performance. Making them feel part of something great from their first day at work will ensure that they stick around. Therefore, structured onboarding can increase employee retention.
What should a new employee onboarding program include?
A new employee onboarding program must include the following information about the company culture, a clear vision, and goal of the organization, expectations for employee performance, and evaluations
New employee orientation
What is new employee orientation?
New employee orientation typically involves completing new hire paperwork, enrolling new hires in benefit plans, and setting the new employee up on the company’s payroll.
What is the difference between new employee orientation and new employee onboarding?
For new hires, employee orientation is a one-time event that welcomes new employees to the organization. On the other hand, employee onboarding is a series of events and training that helps new hires progress. It’s more job-specific.
What are the topics covered in new employee orientation?
Topics covered in new employee orientation generally include:
- Safety, health, and emergency policies.
- Harassment and discrimination policies.
- Dress codes.
- Administrative policies.
- Benefit reviews, e.g., paid leave, travel, vehicle use, and service discounts.
What is performance management?
Performance management is a strategic approach to sustaining a high-performance culture through individual development plans, feedback, performance reviews, and additional roles and responsibilities.
What are the stages of performance management?
There are 4 stages in performance management:
Stage 1: The planning stage where team leaders create SMART goals for their teams
Stage 2: The monitoring stage where the progress made per the goals is tracked through feedback.
Stage 3: The reviewing stage where teams’ overall performance is checked to understand what worked and what did not.
Stage 4: The final stage is where the employees are rated on their performance, and suitable rewards are given to keep them motivated.
What is performance appraisal?
Performance appraisal evaluates and documents how well employees perform their duties and responsibilities.
What are the objectives of performance appraisal?
Performance appraisal aims to provide helpful information to help make decisions regarding transfers, promotions, terminations, etc., and give team leaders the necessary data to identify employee training and development program requirements.
Why is feedback an essential part of performance appraisal?
Regular feedback is a vital part of successful performance appraisal, as it provides the employees’ perspective on what they think is working or not working for them. It also allows the team leader to put forward their ideas on how the employee can improve their performance in the future.
What is people analytics?
People analytics includes collecting employee-related data and then analyzing it to improve the future talent pool to achieve successful business outcomes.
What is the use of People analytics in recruitment?
As talent is scarce, there is much competition among the companies to get the best workforce. A streamlined recruitment process will save the organization from losing a talented workforce and gaining the expertise of more such people in the long run. Organizations can make use of people analytics for finding the best practices in sourcing the right kind of candidates, evaluating their candidature, and selecting the most appropriate candidates for the organization.
How can people analytics be used to enhance employee performance?
Rewards and recognition play an essential role in motivating the employees and helping them achieve a good level of job satisfaction so that they can feel responsible and accountable for the jobs that they are doing. However, it sometimes becomes difficult for the HR manager to find out what kind of rewards could be given to the employees and at which particular instance. People analytics can also be advantageous for managers where, with the help of pre-existing data, recommendations can be made regarding what rewards an employee must get and when they should receive the same. The rewards can be given after the employees have reached a certain level of performance efficiency. Thus, people analytics could help leverage human resource data to evaluate the performances of individuals and their commitment levels and suggest mechanisms that would help improve the performances.
What is an organization model?
An organizational model is a chart that lays down clear information on the job roles, hierarchy, and how the jobs are interconnected.
What are the elements to consider in an organizational model?
The essential elements to consider in an organizational model are:
- The organizational chart with clear job descriptions and precise definitions of departments’ relationships with each other.
- How various tasks and activities are assigned to different people and departments.
- How various activities and tasks are coordinated.
- The authorities within the organization.
- The planned policies, methods, and controls direct the activities and relationships.
- The flow of information and communication.
- The identification of future manpower needs in the organization
How can HR leaders identify future workforce requirements for an organizational model?
As identifying future workforce requirements is an essential part of the organizational model, HR leaders must figure out the below three aspects:
- The current and intended growth in the short and long term
- The departments that need more manpower in the future and those that will be obsolete.
- The areas of the organization where work will be automated.