Background of the Study Globally, leaders need to view the new ever-connected world and the corresponding changes to business because directing an economy nowadays is completely different than it was ten, thirty, or fifty years ago. Nowadays, rules become more complicated and workers also are more educated, more demanding, and more sophisticated. Thus, leaders must start by taking full responsibility for the success and failures of their people in their organization. Indeed, rules are useful for they ensure clarity and consistency. Rules became and guide in most organizations and also allow people to get a grip on what they should be doing (Kaptein, M., 2012).
The problem of ACU is that they have disordered and unstable staff “the reality of managing within a changing, unstable, severely understaffed organization” (Case Study Leading Change at Saint Theresa Hospital). Team building is an organizational development intervention that includes planned activities to enhance functioning of existing and integrated teams. According to Diane Rawlings (2000, p. 36), "current business trends of globalization, accelerated growth, and reengineering are requiring more cross-functional collaboration and integrated strategies across organizations". As an intervention, team building is simply a means to get either a new or poor performing group on track, generally with activities that strengthen those "peeking"
There used to be a time where the employees sticks to only one job or a company until they reach the age of retirement. However, time is different now and employees no longer stay in a company for their entire life. Many reasons lead to the high turnover of the company and one of it is the stagnant pay (Pay Is One Reason Why Turnover Rates Will Jump 8% This Year, 2004). Employees nowadays wants to have work-life balance, feel valued by the company and be exposed to growth opportunities (Charney, 2008). It would be a challenge for employers to recruit more loyal employees as they want to reduce the turnover rate in their
Project TitleEMPLOYEE TURNOVER (With special reference to ITC HOTELS, Jaipur), Employee turnover is a serious workplace problem and an expensive occurrence for both employers and employees seemingly unpredictable in nature.ObjectivesHuman resource is an important part of any business and managing them is an important task. Our institution has come forward with the opportunity to bridge the gap by imparting modern scientific management principle underlying the concept of the future prospective managers. Employee turnover is the process of replacing one worker with another for any reason. A turnover rate is the percentage of employees that a company must replace within a given time period. This rate is a concern to most companies because employee
HR Departments of big companies have already been researching and applying creative training in their HR process over the past decades to help their employees cope with changes at work. Business problem arising would bring about various solutions, and in general requires more creative thinking to satisfy the situation. By thinking in the traditional way, which we can only extent the knowledge that already known rather than distribute truly new creative one. Globalization and modernization are, at no doubt, the indispensable trend of world economy. Business organization can no longer solve things by the same methods as they did in the old days because it is now the environment that experiences rapid cultural, economic and technological change.
Labour turnover is an important and pervasive feature of the labour market. (Martin C., 2003:391) Labour turnover affects both workers and the firms. Workers experience disruption, the need to learn new job-specific skills and find different career prospects. Firms suffer the loss of job-specific skills, disruption in production and incur the costs of hiring and training new workers. (http://www.le.ac.uk/economics/research) Organizations of all types are giving increased attention to a common problem of business-employee turnover.
(Employee Involvement, Participation and Consultation is very important) Many organizations accept to bring in the change but may be the time is not appropriate of the change has been brought is very fast and drastic which will disturb the organizational structure and organizational relationships and will make things difficult when the change has to be actually brought. This last point also gives importance to employee participation and consultation when employees are involved they accept the decisions towards the change process and see to tit ht the challenges posed by the change process are tackled effectively. It is clear from the above discussions that change is the only way of surviving. The question is how one goes about it. Just like any other thing we go about change in an adhoc manner; the result will not be
As mentioned by Hicks (2002), global leadership efficiency has turned out to be one main issue within the literature of social issues, human resource development and management and world business etc. To efficiently perform the role of global leadership in progressively complex global market it important to workforce management and international business. Leadership is considered to be main element of all firms however its capacity and function are getting difficulty with increased engagement in technology and globalisation development. Technological advances extend the probability of global economy that has changed the approach people communicate and do business (Kochan & Thomas, 2003). Managing diversity is related to acknowledging each employee’s differences and understanding theses diversity as valuable factor, this lead to motivate and improve effective managerial practice by stimulating extensiveness and preventing
As companies ecosystem becomes more elusive, unpredictable and competitive the applicable handling of data and information, and the understanding of it has become a recognizable core competence of many business executives (Duan, Ong, Xu, & Mathews, 2012). Executives are constantly looking at new ways that allow for a continuous, proactive and self-adaptive path in amassing, synthesizing and interpreting information for business intelligence with a view to determining a course of action. Senior level executives are responsible for making decisions, for their decisions are critical and have thorough human, financial and organizational impact (Duan, Ong, Xu, & Mathews, 2012). One of the leading positions is that the quality of data affects decision-making within business organizations (Samitsch, 2015; Haug et al., 2013). According to Nwabud, Begg, and McRobbie (2014), leaders make decisions on all aspects of business data and often, decision-making depends on the availability of data regardless of the quality of the data.
Definition and Introduction Human Resource Management (HRM) deals with issues having concerns with people that include recruitment, compensation, wellness benefits, organization development, training, motivation, communication, administration, performance management. HRM currently plays a key role in developing a strategic and comprehensive approach to managing environmental and workplace culture to achieve overall objectives of the organization. In short, HRM adds the value of the human asset of the company without which the company cannot progress. The paper aims at discussing leadership development as one of the major challenges that HRM faces in the current times. Importance of HRM in Today’s Business Environment Todays'