Contents:• Unit-5:1. Man power utilization2. Indices and techniques3. Scheduling techniques4. Factors affecting performance5. Human resource accounting --- methods, significance
Man power utilization:• Identifying areas for improvement in labour utilization & efficiency• Failure to get the best efforts of which employees are capable:- Failure to commend exceptional performance Failure to explain as much about the work so as to make it interesting Lack of interest in employees progress and affairs
Failure to admit mistakes Lack of attention to employees Failure to view employees as individuals in order to motivate them Countenancing the formation of cliques Rating employees on any grounds but competence, racial, religious.
Keeping an employee in a job for which he is not mentally of physically suitablePermitting employees to work when they are sickNot giving employees the support and help they need.Failure to promote an employee when it is possible and appropriate
Lack of due consideration ofproblems affecting wages andworking conditionsFailure to train an understudy
Man power utilization improvement system:• It is a platform independent application that helps the manufacturing companies to keep track of various skills acquired by the employers.• This system is developed for a automobile manufacturer to effectively utilize their manpower. The system deals with various activities in a manufacturing industy like;
Operation management Work area management Training skills Various skill reports with exporting facility
Indices, scheduling & techniques• The planning tools are techniques manugers can use to develop plans.• Two most important tools are1. Forecasting2. Scheduling
Forecasting:• It is the process of predicting future environmental happenings that will influence the operation of the organization.• Although sophisticated forecasting techniques have been developed only rather recently the concept of forecasting can be traced at least as far back as Fayal.
• The importance of forecasting lies in its ability to help managers understand the future makeup of the organizational environment, which in turn helps them formulate more effective plans.
How forecasting works:• Inspect control services forecasts by attempting to do the following;Establish relationships between industry sales and national economic and social indicators.
• Determine the impact government restrictions on the use of chemical pesticides will have on the growth of chemical, biological and electro magnetic energy pest control markets
Evaluate sales growth potential, profitability, resources required, risks involved in each of its market areasEvaluate the potential for expansion of marketing efforts in geographical areas of the country and abroad
• Determine the likelihood of technological breakthrough that would make existing product lines obsolete.
Types of forecasts:• Various types of forecasts include; Economical, technological, social trends ,sales forecasting etc., although a companies complete forecasting process should and usually does include all these types of forecasting, sales forecasting is considere3d the key forecast for a company.
A sale forecast is a prediction of low high or low sales of the organizations products and/ or services will be over the period of time in reference. It is the key forecast for organizations because it services as the fundamental guideline for planning.
Only after the sales forecast has ben completed can managers decide.Managers must continuously monitor forecasting methods to improve them and to reformulate plans based on a inaccurat forecasts.
Scheduling:• It is the process of formulating a detailed listing of activities that must be accomplished to attain an objective, allocating the resources necessary to attain the objective and setting up and following timetables for completing the objective.
It is an integral part of every organizational planTwo popular scheduling techniques are gantt charts and PERT –program evaluation and review techniques.
• It is the process of deciding how to commit resources between a variety of possible tasks. Time can be specified or floating as part of a sequence of events.
Human resource accounting:Definition:• Flamoitz(1974) defined HRA as “ accounting for people as an organizational resource. It involves measuring the costs incurred by business firms and other organizations to recruit, select, hire, train and develop human assets. It involves measuring the economic value of people to the organization.”
• HRA therefore shows how the organization makes investment in its people and how the value of the people change over time.
• Value of employees increased by training and experience over a time period such information on human resources facilitates effective management with in the organization.
• Information pertaining to employees can be listed under the following heads:No. of employeesCategoriesGradesTotal value of HRValue per employee
HR Acquisitions:• No. of employees acquired during the year• Cost of acquisition• Levels for which they were acquired• HR Development• HR maintenance
• Cost related to HR maintenance• HR separation• Cost related to HR separation, attrition rate• Details of benefits provided to the employees
Methods:• Non-monetary measurement• Monetary measurement Capitalization of historical cost methods Replacement cost methods Opportunity cost method Economic value method Present value method
• HRA helps to understand many pertinent issues like developing skill inventory, performance appraisal, assessing the individuals capacity for development, attitude surveys and subjective appraisal