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FACTORS AFFECTING HUMAN RESOURCE MANAGEMENT

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  There are two categories of macro environmental factors and micro environmental factors. Macro factors are all those which lie outside an organisation. Micro factors are all those factors which lie within the organization. In this blog we are going to look at the macro environmental factors that affect the human resource management   APPLICATION OF PESTEL ANALYSIS Matovic (2020) defines PESTEL as a framework which comprehensive analysis of the environment in which organization operates. PESTEL is used to analyses the macro environment of an organisation.This can be assessed by breaking it down into what is happening at  Political, Economic, Social , Technological, Ecological & Legal levels. Organisations use PESTEL to identify trends & to gain competitive advantage. Figure 01 : PEST Analyst Markwell, 2009 Political Factors Stability of the government & political environment, levels of bureaucracy and co...
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EMPLOYEE RETENTION

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  Once a set of employees are recruited to an organisation, it needs to take necessary steps to prevent competent employees from leaving the organisation. Failure to retain the employees will result in an adverse effect on productivity and profitability. Retention is ‘a voluntary move by an organisation to create an environment which engages employees for a long term’ (Chiboiwa, Samuel & Chipunza, 2010, p.2104) Employees can be retained through many ways. James & Mathew(2012) states that rewards and Recognition, Training and Development, Mentoring/Coaching Sessions, Career Planning, Flexible Working Time, Employee Suggestion Plans, Stock Investment Opportunities, Annual Performance Appraisal, Financial Support, Contract Agreements, On-site Day Care Facilities are few which was identified by. A well-compensated and engaging culture will make employees more likely to stay in their jobs long term, Employee appreciation is also an important part in employee retention strategy. ...
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MASLOW'S HIERARCHY OF NEEDS

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  Five Levels of Maslow’s Hierarchy of Needs McLeod, S (2018) Abraham Maslow came up with a hierarchy of needs theory & stated that people are motivated thru five levels of needs, namely Physiological needs, safety, Love & belonging, esteem & self-actualization. McLeod (2018) categorize Physiological & safety needs as considered Basic needs, Love & belonging, esteem as Physiological needs & self-actualization is a self-fulfillment need. Application of theory to the organization I work for , Being employed in a leading Stock Brokering firm in Sri Lanka, given below is how Maslow’s Hierarchy of Needs theory is applied to the organisation. Psychological needs are the basic requirement of a person says Ramlall (2004). In today’s context the basic needs of an employee can be defined as a friendly working environment, having a equiped workstation to do your day to day work. Being a service provider, all employees in my company is provided with a PC or a laptop al...
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