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Human Resource Management
Asso. Professor
Dept. of Psychiatric Nursing
IGSCON,AMETHI UP
Human Resource Management
• The process of planning, organizing,
directing, and controlling the procurement,
development, compensation, integration,
maintenance, and separation of
organizational human resources to the end
that organizational, individual, and societal
needs are satisfied.
12-2
Objectives of HRM
• To provide, utilize and motivate employees to
accomplish organizational goals.
• To secure integration of individual and groups in
securing organizational effectiveness.
• To utilize human resources effectively.
• To increase to the fullest the employee’s job
satisfaction and self actualization.
• To create a sense and feeling of belongingness –team
spirit and encourage suggestions from employees.
• To help maintain ethical policies and
behaviour inside and outside the
organisation.
• To maintain high moral and good human
relation within the organisation.
• To manage change to the mutual advantage
of individuals, groups, the organisation and
Human Resource Planning
. Human Resource Planning (HRP)
– Activities that managers engage into forecast
their current and future needs for human
resources.
12-5
• HRP is the act of deciding on the
required number of workers to meet the
requirements in order to carry out the
incorporated plans of the institution.
• P. Bruce Colemn
Human Resource Planning
Human Resource Management
Human Resource Management includes all
activities used to attract & retain employees and
to ensure they perform at a high level in
meeting organizational goals.
These activities are made up of
1. Recruitment & selection.
2. Training and development.
3. Performance appraisal and feedback.
4. Pay and benefits.
5. Labor relations.
HRP- Steps
HRP- Objectives
• Assessing manpower needs for future and making
plans for recruitment and selection.
• Assessing skill requirement in future for the
organization.
• Determining training and the development needs
of the organization.
• Anticipating surplus or shortage of staff and
avoiding unnecessary detentions or dismissals.
• Controlling wage and salary costs.
• Ensuring optimum use of human resources
in the organization.
• Helping the organization to cope with the
technological development and
modernization.
• Ensuring career planning of every
employee of the organization and making
succession programmes.
• Ensuring higher labor productivity
HRM Components
. Recruitment and Selection
– Used to attract and hire new employees who have the
abilities, skills, and experiences.
– Training and Development
– Ensures that organizational members develop the skills
and abilities that will enable them to perform their jobs
effectively in the present and the future
. Performance Appraisal and Feedback
– Provides managers with the information they need to
make good human resources decisions about how to
train, motivate, and reward organizational members
. Pay and Benefits
– Rewarding high performing organizational
members with raises, bonuses and recognition.
. Increased pay provides additional incentive.
. Benefits, such as health insurance, reward
membership in firm.
. Labor relations
– Steps that managers take to develop and
maintain good working relationships with the
labor unions that may represent their
employees’ interests
Recruitment Meaning
In a simple term, recruitment is
understood as the process of searching
for and obtaining applicants for job,
from among whom the right people can
be selected.
Recruitment- Definition
• “Recruitment is defined as the process
of searching for prospective employees
and stimulating them to apply for job
in the organization”.
• BFlippo
• “It is a process in which the right
person for the right post is procured”.
Planned
• Arise from changes in
Anticipated
• By studying trends in the
internal and external
organization.
Unexpected
organization and
recruitment policy
• Arise due to accidents,
transfer and illness.
Types Of Recruitment
Purposes And Importance
• Determine the present and future requirements of the
organization in conjunction with the personnel planning and
job analysis activities
• Increase the pool ofjob candidates with minimum cost
• Help increase the success rate of the selection process
reducing the number of obviously under qualified or over
qualified job applicants.
• Help reduce the probability that the job applicants, once
recruited and selected will leave the organization only after
short period of time.
• Meet the organization’s legal and social obligations regarding
the composition of its work force
• Start identifying and preparing potential job
applicants who will be appropriate candidates
• Increase organizational and individual
effectiveness in the short and long term.
• Evaluate the effectiveness of various recruiting
techniques and sources for all types of job
applicants.
Objectives of Recruitment
• To attract people with multi-dimensional skills and
experiences that suit the present and future
organizational strategies
• To induct outsiders with new perspective to lead the
company
• To infuse fresh blood at all levels of organization
• To develop an organizational culture that attracts
competent people to the company
• To search or heat hunt/ head pouch people whose
skills fit the company’s values
• To devise methodologies for assessing
psychological traits
• To seek out non-conventional development
grounds of talent
• To search for talent globally and not just within
the company
• To design entry pay that competes on quality
but not on quantum
• To anticipate and find people for positions that
does not exist yet.
Recruitment
Recruitment and Selection
Job
analysis
Manpower
planning
Placement
12-23
SOURCES
OF
RECRUITMENT
DIRECT/ EXTERNAL
SOURCES
INDIRECT/ INTERNAL
SOURCES
Sources of Recruitment
Internal Sources
. Internal sources include present employees, employee
referrals, former employee and former applicants.
. Present employees: promotion and transfers from among
the present employees can be good source of recruitment.
Promotions to higher positions have several advantages.
They are:
– It is good public relations
– It builds morale
– It encourages competent individuals who are ambitious
– It improves the probability of a good selection, since
information of the candidate is readily available
– It is less costly
– Those chosen internally are familiar with the organization.
• Employee referrals: this is the good
source of internal recruitment.
Employees can develop good prospects
for their families and friends by
acquainting with the advantages of a
job with the company, furnishing cards
introduction and even encouraging
them to apply.
• Former employees: some retired employees
may be willing to come back to work on a part-
time basis or may recommend someone who
would be interested in working for the
company. An advantage with these sources is
that the performance of these people is already
known.
• Previous applicants: Although not truly an
internal source, those who have previously
applied for jobs can be contacted by mail, a
quick and inexpensive way to fill an unexpected
opening.
Advantages:
– It is less costly
– Organizations typically have a better knowledge of
the internal candidates.
– An organizational policy of promoting from within
can enhance employees’ morale, organizational
commitment and job satisfaction.
. Disadvantages:
– Creative problem solving may be hindered by the
lack of new talents.
– Divisions complete for the same people
– Politics probably has a greater impact on internal
recruiting and selection than does external recruiting.
External Sources
• Professional or trade associations: many
associations provide placement services for their
members. These services may consist of compiling
seekers’ lists and providing access to members
during regional or national conventions.
• Advertisements: these constitute a popular method
of seeking recruits as many recruiters; prefer
advertisements because of their wide reach. For
highly specialized recruits, advertisements may be
placed in professional/ business journals.
Newspaper is the most common medium.
• Campus recruitment: colleges, universities and
institutes are fertile ground for recruitment,
particularly the institutes.
• Walk-ins, write-ins and Talk-ins: write-ins those
who send written enquire. These job-seekers are
asked to complete applications forms for further
processing.
• Talk-in is becoming popular now-in days. Job
aspirants are required to meet the recruiter (on an
appropriated date) for detailed talks. No
applications are required to be submitted to the
recruiter.
• Consultants: ABC consultants, Ferguson
Association, Human Resources Consultants Head
Hunters, Consultancy Bureau, Aims Management
Consultants and The Search House are some among
the numerous recruiting agents. These and other
agencies in the profession are retained by
organizations for recruiting and selecting managerial
and executive personnel.
• Contractors: Contractors are used to recruit casual
workers. The names of the workers are not entered in
the company records and to this extent, difficulties
experienced in maintaining permanent workers are
avoided.
• International Recruiting: Recruitment in
foreign countries presents unique challenges
recruiters. In advanced industrial nations more
or less similar channels of recruitment are
available for recruiters.
MODERN SOURCES OF RECRUITMENT
- Walk-in
- Consult in
- Tele recruitment: Organizations advertise the
job vacancies through World Wide Web
(WWW)
STEPS
RECRUITMENT PROCESS/STEPS
Strategy
development
Evaluation &
Control
Searching
Screening
Planning
FACTORS AFFCTING RECRUITMENT
• The size of the organization
• The employment conditions in the community where
the organization is located
• The effects ofpast recruiting efforts .
• Working conditions and salary and benefit packages
offered by the organization.
• The rate of growth of organization
• The level of seasonality of operations and future
expansion and production programs.
• Culture, economical and legal factors etc.
Selection
Selection Process
• It is the process of choosing from among
applicants the best qualified individuals.
• Selecting includes interviewing, the employer’s
offer, acceptance by the applicant, and signing of
a contract or written offer.
• Selection may be carried out centrally or locally,
but in either case certain policies or methods are
adopted.
STEPS IN SELECTION
• Interview by personnel department
• Pre-employment tests-written/oral/practical
• Interview by department head
• Decision of administrator to accept or reject
• Medical examination
• Check of references
• Issue of appointment letter.
Placement
• The determination of the job to which an
accepted candidate is to be assigned.
• State ofbeing placed or arranged
IMPORTANCE OF SELECTION AND
PLACEMENT
• To evaluate job applicants in view of individual
differences and capabilities
• To select qualified and competent hands that can
meet the job requirement ofthe organization
• To help in human resources, manpower planning
purposes in organization
• To reduce recruitment cost that may arise as a
result ofpoor selection & placement exercises.
Orientation
• “Orientation/ Induction is the process
of receiving and welcoming an
employee when he first joins a
company and giving him basic
information he needs to settle down
quickly and happily and start work” .
Objectives of Orientation
• To reduce the initial anxiety all new employees.
• To familiarize the new employees with the job,
people, work-place, work environment and the
organisation.
• To facilitate outsider - insider transition in an
integrated manner.
• To assist the new employee in identifying
individual strengths and weakness.
• To reduce the cultural shock faced in the new
organisation.
Contents of Orientation Program
Informal Induction
• This is an unplanned induction programme. This
may be simply an introduction to the new entrant
about the job and organisation. Such type of
induction programme is generally carried out by
the medium and small-scale units.
• It is of two types;
• Supervisory System
• Buddy or sponsor system
Formal Orientation
• Formal induction is a planned programme carried
out to integrate the new entrant into the
organisation. This is usually carried out by the
large size organisation.
• It includes the following contents;
1. Brief history of the organisation.
2. Organizational mission, vision, objectives and
philosophies.
3. Policies and procedures of the organisation.
4. Rules and regulation of the organisation.
5. Organisational structure and authority
relationship.
6. Terms and conditions of job including
remuneration, working hours, holidays,
promotional avenues, etc.
7. Welfare measures like subsidized canteen,
transport, health and recreation facilities, etc.
8. Safety measures.
Promotion
• A change for better prospects from one job to
anotherjob is deemed by the employee as a
promotion.
Training
• Training is the process of teaching the new
and/or present employees the basic skills
they need to effectively perform their jobs.
• “Training is the act of increasing the
knowledge and skills of an employee for
doing a particular job.”
Reasons of Training
• Increase the use of technology
• To minimize labor turnover
• To increase the productivity
• To manage time effectively
• To raise the morale of employees
Areas of training
• Knowledge
• Technical skills
• Social skills
• Attitudes
• Experience
Characteristics Of Training Program
• Individual differences
• Relevance ofjob requirements
• Determination of training needs
• Should be result oriented
Importance Of Training
• Reduction in learning time
• Better performance
• Reduced supervision
• Increases Morale of the employees
• Facilitates organizational stability and flexibility
• Develops employees skills, talents, competency
• Decreased accidents
• Better use of raw material and other resources
• Increase in production
Training and Development
STAFF DEPLOYMENT
Staff deployment is a personnel
activity to ensure that the labor of the
organization would be continuously in an
optimal relation to the jobs and
organizational structure.
Deployment is the process of using
personnel in an effective and efficient way.
Objectives
• Become familiar with policies and protocols of
the institution
• To instill the confidence to carryout the duties
and responsibilities
• Maintain smooth functioning ofthe organization
• To provide quality nursing care to the patient
• To manage emergency situation
• To make use of available resources
• To deliver the patient care equally and
uniformally
Staff Promotion
• “A promotion is the transfer of an employee to a
job which pays more money or one that carries
some preferred status.” —Scott and Clothier
• “Promotion is the advancement of an employee
to a better job-better in terms of greater
responsibilities, more prestige or status, greater
skill and especially, increased rate of pay or
salary. —Pigors and Myers
Types of Promotion
1. Horizontal promotion: When an employee is
shifted in the same category, it is called ‘horizontal
promotion’.
2. Vertical Promotion: This is the kind ofpromotion
when an employee is promoted from a lower category
to lower category involving increase in salary, status,
authority and responsibility.
3.Dry Promotion: When promotion is made without
increase in salary, it is called ‘dry promotion’.
Purposes of Promotion
• To recognize an employee’s skill and knowledge and
utilize it to improve the organizational effectiveness.
• To reward and motivate employees to higher productivity.
• To develop competitive spirit
• Increase sense of belongingness.
• To retain skilled and talented people.
• To attract trained, competent and hardworking people.
• To impress the other employees that opportunities are
available to them too if they also perform well.
• To improve morale
• To improve human relations
Superannuation
• Form of savings and investment → save during
working life to provide money in retirement
• ‘Pension’in most countries = employment-
related retirement savings
• Every organization have a plan of superannuation
for their employee.
HRM Guide for Nursing Professionals
HRM Guide for Nursing Professionals

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HRM Guide for Nursing Professionals

  • 1. Human Resource Management Asso. Professor Dept. of Psychiatric Nursing IGSCON,AMETHI UP
  • 2. Human Resource Management • The process of planning, organizing, directing, and controlling the procurement, development, compensation, integration, maintenance, and separation of organizational human resources to the end that organizational, individual, and societal needs are satisfied. 12-2
  • 3. Objectives of HRM • To provide, utilize and motivate employees to accomplish organizational goals. • To secure integration of individual and groups in securing organizational effectiveness. • To utilize human resources effectively. • To increase to the fullest the employee’s job satisfaction and self actualization. • To create a sense and feeling of belongingness –team spirit and encourage suggestions from employees.
  • 4. • To help maintain ethical policies and behaviour inside and outside the organisation. • To maintain high moral and good human relation within the organisation. • To manage change to the mutual advantage of individuals, groups, the organisation and
  • 5. Human Resource Planning . Human Resource Planning (HRP) – Activities that managers engage into forecast their current and future needs for human resources. 12-5
  • 6. • HRP is the act of deciding on the required number of workers to meet the requirements in order to carry out the incorporated plans of the institution. • P. Bruce Colemn Human Resource Planning
  • 7. Human Resource Management Human Resource Management includes all activities used to attract & retain employees and to ensure they perform at a high level in meeting organizational goals. These activities are made up of 1. Recruitment & selection. 2. Training and development. 3. Performance appraisal and feedback. 4. Pay and benefits. 5. Labor relations.
  • 9. HRP- Objectives • Assessing manpower needs for future and making plans for recruitment and selection. • Assessing skill requirement in future for the organization. • Determining training and the development needs of the organization. • Anticipating surplus or shortage of staff and avoiding unnecessary detentions or dismissals. • Controlling wage and salary costs.
  • 10. • Ensuring optimum use of human resources in the organization. • Helping the organization to cope with the technological development and modernization. • Ensuring career planning of every employee of the organization and making succession programmes. • Ensuring higher labor productivity
  • 11.
  • 12.
  • 13. HRM Components . Recruitment and Selection – Used to attract and hire new employees who have the abilities, skills, and experiences. – Training and Development – Ensures that organizational members develop the skills and abilities that will enable them to perform their jobs effectively in the present and the future . Performance Appraisal and Feedback – Provides managers with the information they need to make good human resources decisions about how to train, motivate, and reward organizational members
  • 14. . Pay and Benefits – Rewarding high performing organizational members with raises, bonuses and recognition. . Increased pay provides additional incentive. . Benefits, such as health insurance, reward membership in firm. . Labor relations – Steps that managers take to develop and maintain good working relationships with the labor unions that may represent their employees’ interests
  • 15.
  • 16. Recruitment Meaning In a simple term, recruitment is understood as the process of searching for and obtaining applicants for job, from among whom the right people can be selected.
  • 17. Recruitment- Definition • “Recruitment is defined as the process of searching for prospective employees and stimulating them to apply for job in the organization”. • BFlippo • “It is a process in which the right person for the right post is procured”.
  • 18. Planned • Arise from changes in Anticipated • By studying trends in the internal and external organization. Unexpected organization and recruitment policy • Arise due to accidents, transfer and illness. Types Of Recruitment
  • 19. Purposes And Importance • Determine the present and future requirements of the organization in conjunction with the personnel planning and job analysis activities • Increase the pool ofjob candidates with minimum cost • Help increase the success rate of the selection process reducing the number of obviously under qualified or over qualified job applicants. • Help reduce the probability that the job applicants, once recruited and selected will leave the organization only after short period of time. • Meet the organization’s legal and social obligations regarding the composition of its work force
  • 20. • Start identifying and preparing potential job applicants who will be appropriate candidates • Increase organizational and individual effectiveness in the short and long term. • Evaluate the effectiveness of various recruiting techniques and sources for all types of job applicants.
  • 21. Objectives of Recruitment • To attract people with multi-dimensional skills and experiences that suit the present and future organizational strategies • To induct outsiders with new perspective to lead the company • To infuse fresh blood at all levels of organization • To develop an organizational culture that attracts competent people to the company • To search or heat hunt/ head pouch people whose skills fit the company’s values
  • 22. • To devise methodologies for assessing psychological traits • To seek out non-conventional development grounds of talent • To search for talent globally and not just within the company • To design entry pay that competes on quality but not on quantum • To anticipate and find people for positions that does not exist yet.
  • 25. Internal Sources . Internal sources include present employees, employee referrals, former employee and former applicants. . Present employees: promotion and transfers from among the present employees can be good source of recruitment. Promotions to higher positions have several advantages. They are: – It is good public relations – It builds morale – It encourages competent individuals who are ambitious – It improves the probability of a good selection, since information of the candidate is readily available – It is less costly – Those chosen internally are familiar with the organization.
  • 26. • Employee referrals: this is the good source of internal recruitment. Employees can develop good prospects for their families and friends by acquainting with the advantages of a job with the company, furnishing cards introduction and even encouraging them to apply.
  • 27. • Former employees: some retired employees may be willing to come back to work on a part- time basis or may recommend someone who would be interested in working for the company. An advantage with these sources is that the performance of these people is already known. • Previous applicants: Although not truly an internal source, those who have previously applied for jobs can be contacted by mail, a quick and inexpensive way to fill an unexpected opening.
  • 28. Advantages: – It is less costly – Organizations typically have a better knowledge of the internal candidates. – An organizational policy of promoting from within can enhance employees’ morale, organizational commitment and job satisfaction. . Disadvantages: – Creative problem solving may be hindered by the lack of new talents. – Divisions complete for the same people – Politics probably has a greater impact on internal recruiting and selection than does external recruiting.
  • 29. External Sources • Professional or trade associations: many associations provide placement services for their members. These services may consist of compiling seekers’ lists and providing access to members during regional or national conventions. • Advertisements: these constitute a popular method of seeking recruits as many recruiters; prefer advertisements because of their wide reach. For highly specialized recruits, advertisements may be placed in professional/ business journals. Newspaper is the most common medium.
  • 30. • Campus recruitment: colleges, universities and institutes are fertile ground for recruitment, particularly the institutes. • Walk-ins, write-ins and Talk-ins: write-ins those who send written enquire. These job-seekers are asked to complete applications forms for further processing. • Talk-in is becoming popular now-in days. Job aspirants are required to meet the recruiter (on an appropriated date) for detailed talks. No applications are required to be submitted to the recruiter.
  • 31. • Consultants: ABC consultants, Ferguson Association, Human Resources Consultants Head Hunters, Consultancy Bureau, Aims Management Consultants and The Search House are some among the numerous recruiting agents. These and other agencies in the profession are retained by organizations for recruiting and selecting managerial and executive personnel. • Contractors: Contractors are used to recruit casual workers. The names of the workers are not entered in the company records and to this extent, difficulties experienced in maintaining permanent workers are avoided.
  • 32. • International Recruiting: Recruitment in foreign countries presents unique challenges recruiters. In advanced industrial nations more or less similar channels of recruitment are available for recruiters.
  • 33. MODERN SOURCES OF RECRUITMENT - Walk-in - Consult in - Tele recruitment: Organizations advertise the job vacancies through World Wide Web (WWW)
  • 35. FACTORS AFFCTING RECRUITMENT • The size of the organization • The employment conditions in the community where the organization is located • The effects ofpast recruiting efforts . • Working conditions and salary and benefit packages offered by the organization. • The rate of growth of organization • The level of seasonality of operations and future expansion and production programs. • Culture, economical and legal factors etc.
  • 37. Selection Process • It is the process of choosing from among applicants the best qualified individuals. • Selecting includes interviewing, the employer’s offer, acceptance by the applicant, and signing of a contract or written offer. • Selection may be carried out centrally or locally, but in either case certain policies or methods are adopted.
  • 38. STEPS IN SELECTION • Interview by personnel department • Pre-employment tests-written/oral/practical • Interview by department head • Decision of administrator to accept or reject • Medical examination • Check of references • Issue of appointment letter.
  • 39. Placement • The determination of the job to which an accepted candidate is to be assigned. • State ofbeing placed or arranged
  • 40. IMPORTANCE OF SELECTION AND PLACEMENT • To evaluate job applicants in view of individual differences and capabilities • To select qualified and competent hands that can meet the job requirement ofthe organization • To help in human resources, manpower planning purposes in organization • To reduce recruitment cost that may arise as a result ofpoor selection & placement exercises.
  • 41. Orientation • “Orientation/ Induction is the process of receiving and welcoming an employee when he first joins a company and giving him basic information he needs to settle down quickly and happily and start work” .
  • 42. Objectives of Orientation • To reduce the initial anxiety all new employees. • To familiarize the new employees with the job, people, work-place, work environment and the organisation. • To facilitate outsider - insider transition in an integrated manner. • To assist the new employee in identifying individual strengths and weakness. • To reduce the cultural shock faced in the new organisation.
  • 43. Contents of Orientation Program Informal Induction • This is an unplanned induction programme. This may be simply an introduction to the new entrant about the job and organisation. Such type of induction programme is generally carried out by the medium and small-scale units. • It is of two types; • Supervisory System • Buddy or sponsor system
  • 44. Formal Orientation • Formal induction is a planned programme carried out to integrate the new entrant into the organisation. This is usually carried out by the large size organisation. • It includes the following contents; 1. Brief history of the organisation. 2. Organizational mission, vision, objectives and philosophies. 3. Policies and procedures of the organisation. 4. Rules and regulation of the organisation.
  • 45. 5. Organisational structure and authority relationship. 6. Terms and conditions of job including remuneration, working hours, holidays, promotional avenues, etc. 7. Welfare measures like subsidized canteen, transport, health and recreation facilities, etc. 8. Safety measures.
  • 46. Promotion • A change for better prospects from one job to anotherjob is deemed by the employee as a promotion.
  • 47. Training • Training is the process of teaching the new and/or present employees the basic skills they need to effectively perform their jobs. • “Training is the act of increasing the knowledge and skills of an employee for doing a particular job.”
  • 48. Reasons of Training • Increase the use of technology • To minimize labor turnover • To increase the productivity • To manage time effectively • To raise the morale of employees
  • 49. Areas of training • Knowledge • Technical skills • Social skills • Attitudes • Experience
  • 50. Characteristics Of Training Program • Individual differences • Relevance ofjob requirements • Determination of training needs • Should be result oriented
  • 51. Importance Of Training • Reduction in learning time • Better performance • Reduced supervision • Increases Morale of the employees • Facilitates organizational stability and flexibility • Develops employees skills, talents, competency • Decreased accidents • Better use of raw material and other resources • Increase in production
  • 53. STAFF DEPLOYMENT Staff deployment is a personnel activity to ensure that the labor of the organization would be continuously in an optimal relation to the jobs and organizational structure. Deployment is the process of using personnel in an effective and efficient way.
  • 54. Objectives • Become familiar with policies and protocols of the institution • To instill the confidence to carryout the duties and responsibilities • Maintain smooth functioning ofthe organization • To provide quality nursing care to the patient • To manage emergency situation • To make use of available resources • To deliver the patient care equally and uniformally
  • 55. Staff Promotion • “A promotion is the transfer of an employee to a job which pays more money or one that carries some preferred status.” —Scott and Clothier • “Promotion is the advancement of an employee to a better job-better in terms of greater responsibilities, more prestige or status, greater skill and especially, increased rate of pay or salary. —Pigors and Myers
  • 56. Types of Promotion 1. Horizontal promotion: When an employee is shifted in the same category, it is called ‘horizontal promotion’. 2. Vertical Promotion: This is the kind ofpromotion when an employee is promoted from a lower category to lower category involving increase in salary, status, authority and responsibility. 3.Dry Promotion: When promotion is made without increase in salary, it is called ‘dry promotion’.
  • 57. Purposes of Promotion • To recognize an employee’s skill and knowledge and utilize it to improve the organizational effectiveness. • To reward and motivate employees to higher productivity. • To develop competitive spirit • Increase sense of belongingness. • To retain skilled and talented people. • To attract trained, competent and hardworking people. • To impress the other employees that opportunities are available to them too if they also perform well. • To improve morale • To improve human relations
  • 58. Superannuation • Form of savings and investment → save during working life to provide money in retirement • ‘Pension’in most countries = employment- related retirement savings • Every organization have a plan of superannuation for their employee.