Knowledge in Human Resources

Line managers and their HR Functions

A sneak peak into the lives of the line managers and the interviews done with some of them just in order to u derstand how they have performed their duties and how they believe it was easy or difficult to sustain thw working and the non working staff members.

Business communication process

The business communication process in a nutshell.

FMG

Recruitment of a star – FAS D1   Q1.  Whom should Stephen Connor hire? Why? Ans. In our opinion, Stephen Connor should hire Sonia Meetha (working in Welsh Harrison and Smith) due to the following reasons: ·         She has a technical and sales background and is said to have excellent writing and articulation skills. ·         Her performance rating has grown over the past 3 years. She received an upcoming a ‘true’ up and coming mention (8th rank) from Institutional Investors (II) in the semiconductor industry and would have the potential to become one of the best analysts on Wall Street if provided a better platform like RSH. ·         She has extensive connections with the CEOs of major companies, but also has connections with divisional managers and staff who can have more insights or knowledge about the business than top management sometimes. ·         Her previous firm, being of smaller size, had limited research and administrative resources. But with RSH’s considerable tools, trained junior aides and assistants and global reach, she would be able to exploit her talent and potential and develop her global outlook. ·         She showed a major interest in the organisation culture of RSH, indicating she was looking for a long-term position and compensation did not appear to be a driving point for her. ·         Her interest in and approval of the organisation culture and the team-based and cooperation approach of RSH, lead us to believe she would be a good fit in RSH. ·         In addition to this, she was not aware of the kind of compensations offered on Wall Street, so she would most likely be immensely pleased and motivated with the compensation RSH would offer her. ·         She appears to be an adaptable person who could manage her work-life balance successfully, even with two small children and so we expect she would be able to acclimate herself to a large firm like RSH. ·         Also, the buy side director to whom Stephan had spoken said that even though she didn’t prefer to travel extensively, she provided solid, insightful and reliable work and arranged conference calls in which she explained her research report in ‘exquisite detail’. This implied that even though she didn’t travel as much as required, her clients were satisfied and delighted due to the quality and depth of her research. Q2. Imagine yourself in the place of each of the candidates. What strength would you bring to light during the interview with Stephen? How would you distinguish yourself from other candidates? Ans. Ankit Babel: I believe that I have certain qualities which make me a good fit as the semi-conductor analyst at RSH. Having completed my Bachelors in Electronics Engineering, I carry a strong foundation in the domain knowledge and I am familiar with the industry. I have over 1-year experience in IT Sector and 1 year in Finance Sector which makes me the expert in the domain. Throughout my professional career I had negotiated several successful deals with clients and bankers which resulted in more business to my organization. Apart from negotiation skills which makes me a perfect sales person, I have strong communication and presentation skills as well. Having spent enough time in a client facing role I feel that my industry connections are quite strong which makes me an asset for any organization. As the Senior Equity Analyst of Samnidhy, I have experience in stock picking and writing good industry reports and analysis. I am ambitious and self-motivated. Challenges excite me very much which is why I am eager to take up the role of semi-conductor analyst at RSH. Nipun Abraham: I have completed my Bachelor of Engineering which gives me good technical understanding of semiconductors and my interest in technology has always ensured I am well informed about the industry. I am a team-oriented person and would showcase my interest and ability to adapt to the organisation’s culture. I am a punctual person and would at least apologize in case of tardiness. In addition to this, indicating negativity towards previous employers is not something I would do as it indicates a negative attitude. Instead I would enquire about the role, the growth opportunities and the organisation culture, and avoid focusing on the potential compensation as it would lead the interviewer to believe my primary concern is money. I’m meticulous, an excellent communicator and a go-getter which enables me in performing my responsibilities efficiently.  I would also avoid being too dominating or too eager in the interview to avoid making the interviewer feel uncomfortable or believe that I could be easily manipulated. I would also show my enthusiasm and energy for research, as this sector and work tends to burn people off and can get immensely tiring for those who have been doing this for long. S.Seemanthini As the post demands an extremely intelligent candidate having incredible analytical skills, a star analyst. I consider myself competent for the post of the analyst. In my career span as an analyst I have been exposed to adverse situations and I am well trained to handle difficult situations. I have always been an achiever and I am highly conscientious in my work. I am a reflector by nature and ponder before implementation of an idea. I am adept at analysing performances and have a knack for maintaining close relations and writing quality reports. I have a very vast industry knowledge and good interpersonal skills to maintain a good client base. I think about long term growth and I do not like to be rushed which is very much required for the job of an analyst. Because of the same reason I have not switched many firms and have performed phenomenally well in the firms I have worked so far. I am very punctual and organised in my work. I am not very money-minded and for me time is money. I believe in treating everybody with equal respect. I believe an analyst opinion is highly demanded and sought after by traders, clients and sales force and hence he doesn’t have the privilege to be wrong. I am bright and articulate well while conversing with clients and enthusiastic about learning new things any day. In today’s complex business environment, it is required and expected of an analyst to give absolutely correct recommendations all the times. I have very good writing and expressive skills which are very much required for this job. I have a very amiable personality and I leave a lasting impression. Also, I do not have any problem in travelling and I am well aware of the work culture at small firms as well as the big firms. I have very good technical and sales background and I believe in the work culture of an organisation. My performance rating has grown over the past and also I have good connections with the CEOs of major companies. I have the potential to be one of the best analyst if given a better platform. I am dependable, logical, self-assertive, organised and sympathetic. In today’s world I believe traditional methods can no longer lead to reaching objectives when economy is unfavourable. That’s where analysts can be helpful by doing their due diligence and making it happen effectively and efficiently. I believe I am such an analyst to take the organization towards success by aligning my goals and the firm’s goals on the same page. Rakshith G.: It is said that a judgement is made by the other person within 15 seconds. Coming late even if the delay is just 5 minutes would reflect a perception that you do not value another person’s time and, in turn, reflect a careless attitude towards work. I believe in the value of another person’s time and hence would never come late. If I were to come late, I would give a call or send a message to inform the other person of my delay. This is basic business etiquette. After extensively working in groups, I realized that I am a resource investigator- always looking to bring new ideas onto the table and a shaper- thrive on pressure, provide the necessary drive to the team and help to keep the momentum going. Moreover, I would always try to speak positive things about my team, company and the work place ecosystem. By complaining, I would be tarnishing my own reputation. My employer might even feel that I would not be suited for client interactions because of my high neuroticism. I believe that if you want to grow you need an innate passion for the organization to grow as well. Although I do not have vast experience as does David Hughes, I am a pragmatist, have lot of energy and enthusiasm, have high conscientious, open to criticism and a very good hustler. I am flexible and have great openness, hence I would not demand a guarantee compensation and worry less about job security or compensation. From college days, I have worked in many forums such as Commerce and Finance Forum that has developed my networking and bargaining skills and since I am not yet married, I have the luxury to travel far and wide to negotiate with current and prospective clients. This would give me a competitive advantage at least in the short run. I strongly believe that negotiation and acceptance levels are far faster in a physical meeting than a virtual meeting. It is one thing putting in the substantial amount of hard work and it another to portray this hard work in positive light and get recognition for this. One important thing I have learnt over the years is if you cannot market yourself well your work will not get the recognition that it deserves. Unlike Seth Horkum, I have a low wanted inclusion. But, I would not change my job if my employer does not recognize my hard work and abilities. Rather, I would ensure that I try my best to subtly portray my work and convince the top management of my skill sets. For these reasons mentioned above, I strongly feel that I can contribute immensely as a star analyst for the semi-conductor industry. Vijeta Singh: Although I do not have technical knowledge due to completing my graduation in business administration (BBA), my interest in this industry more than makes up for it. My past record of performing under pressure is demonstrated by my completing a professional qualification from CIMA(UK) simultaneously with my graduation. In addition to this, I would bring to light my extensive contacts in the industry, as it would be an advantage to the firm hiring me. I would try to give the best first impression possible by being punctual or being apologetic for my tardiness. It would be a reflection of my attitude towards the interview. Also, hinting at negative relations with my previous organisation would lead the interviewer to believe I’m inflexible or generally dissatisfied, while positive mentions may make the interviewer question my seriousness to move. I’m a sincere, and straightforward person and would avoid portraying a cocky, dominating or over-eager attitude in the interview. Also, I would be interested in asking questions regarding my responsibilities in general, the organisation, its culture and work ethic etc and would not ask for the details of compensation upfront as it would imply my motivation may be money. It could also lead the interviewer to wonder if I would move if higher compensation was offered. In addition to these, I would also showcase my interpersonal skills to convince the interviewer in my ability to work in a team culture and my fitness for the organisation.

Equilibrium

The article represents the proper formula associated between various corporate based learnings.

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Key Result Areas

Key result areas or KRAs refer to the general metrics or parameters which the organisation has fixed for a specific role. The term outlines the scope of the job profile, and captures almost 80%-8% of a work role. Key result areas (KRAs) broadly define the job profile for the employee and enable them to have better clarity of their role. KRAs should be well-defined, quantifiable, and easy to measure. It also helps employees to align their role with that of the organisation. KRAs are broad categories or topics on which the employee has to concentrate during the year. For example, an employee who is working at a managerial level in a manufacturing company would have a different KRA than somebody who is in a technology firm. A manager who is working in a manufacturing firm would have to focus on maintaining the budget of the department, safety of the employees, coordination with different departments, training, reporting as well as introducing new technologies to improve productivity. The next step is to define objectives and standards for each KRA which should be easily quantifiable. The employee should have a clear understanding of his/her KRAs to perform his/her tasks efficiently. Key result areas are those areas in which you have to take complete ownership. The first step is to list out daily activities which could be part of the KRAs. In some organisation even a team meeting everyday is part of a manager’s KRA. So, KRAs could be vary from organisation to organisation and from one work profile to another. There are no set rules to define KRAs, but broadly they sum up the job profile as well as the key impact areas on which the employee is expected to deliver.

Hawthorne Effect

The Hawthorne effect refers to the inclination of some people to work harder and perform better when they are being observed as part of an experimentUnder the Hawthorne effect, it was observed that individuals being observed would change their behaviour and become more productive not because there was any change in any variable such as working conditions or new machinery, but solely because of the attention they were getting. It is also referred to as the study of employee productivity. It was named after one of the most famous experiments in industrial history. It involves the study of human behaviour, under a specific set of conditions (variables) which are changed to conclude the experiment. Let’s understand with the help of an example. If a person conducting an experiment were to ask a subject how many times he had heard the word "Lion" in the previous week, the subject or the respondent might answer three or four times. But if the subject or the respondent(s) is asked the same question the following week, he/she will probably say that they have heard the word “Lion” from several other sources which could be their neighbours, family, TV etc. Let’s analyse what happened. In this particular situation, the outcome of the result does not mean that the instance of "Lion" suddenly rose from one week to the next and so on.But, the more reasonable conclusion is just that the subject or the respondent was paying much more attention to "Lion" the second week, after it was called to their attention.  

Fixed-term Employment

Fixed-term employment is a contract in which a company or an enterprise hires an employee for a specific period of time. In most case it is for a year but can be renewed after the term expires depending on the requirement. In a fixed-term employment, the employee is not on the payroll of the companUnder the fixed-term employment contract, the payout or the payment is fixed in advance and is not altered till the term expires. However, such contracts cannot be given for routine jobs. It is usually given out for jobs which are temporary. It cannot be used to replace existing employees, if he or she is on a long leave. The contract is duly signed by both the parties and is for a specified period of time. In IT companies, sometimes professionals are hired on contractual basis to complete a specific project. They could be absorbed in the company later when the project is completed. There are lot of companies in India as well who hire a person on contract for a year and make them permanent after the term expires. The company sees the potential of the person before taking him or her on the payrolls of the company. This is one decision which is taken by the management of the company. Like every other agreement, even a fixed-term employment contract has a provision in which the employers can terminate the contract on certain grounds before the due date One of the prominent reasons could be the non-performance or the individual has committed a fraud which was proved when investigated. It is generally seen that workers who are under fixed-term agreement do not get provident fund, and some other benefits as compared to employees who are on the payroll of the company.

Extrinsic Rewards

An extrinsic reward is a tangible and visible reward given to an individual or an employee for achieving something. They usually have monetary value such as a salary hike, bonus, award, or public recognition. Description: They are usually offered by the individual’s immediate manager who decides upon them. These rewards are typically financial such as an increase in salary or a cash reward for performing well or a gift certificate for going beyond the call of duty. These rewards motivate and inspire employees because money or equivalent rewards are important to most people. Someone would work on a project in lieu of extrinsic rewards even when that person is not internally motivated. For example, a sales person may not be interested in the product he/she is selling but upon realising that he/she would get a cash bonus on the completion of sales targets, he/she would make an additional effort to complete his/her targets on/before time.Because extrinsic rewards are tangible in nature, they are generally given to the individual directly responsible for the effort. Extrinsic rewards differ from intrinsic rewards which are generally qualitative in nature such as a challenging work assignment, involvement in key decisions, a better rank in the work hierarchy, etc. Extrinsic rewards are also commonly used for behaviour conditioning. Typically, there will be something that acts as the event and then there will be an extrinsic reward which reinforces it. For example, if an organisation wishes that employees have higher attendance levels, they may introduce a cash reward for the employee with the highest attendance throughout the year. However, those using extrinsic rewards in a modern workplace would do well to remember research conclusions of modern behavioural scientists that efforts towards conditioning using extrinsic rewards may lead to completely unintended consequences. Extrinsic rewards work well in the short-term to motivate behaviour. However, one should always consider the following questions before implementing them for long term. 1. Are you motivating the required behaviour or just motivating people to get the award? 2. Will you need to keep increasing the award amount to keep this behaviour sustainable? 3. Are you replacing an internal source of motivation with an external one? As you can see above, in the long-term scenarios intrinsic rewards are much more suitable than extrinsic rewards.

Equity Theory

Equity theory, popularly known as Adam's equity theory, aims to strike a balance between an employee’s input and output in a workplace. If the employee is able to find his or her right balance it would lead to a more productive relationship with the management.Equity theory is used in parlance of human resource management. We might not see it but this theory is applied at every workplace. An individual’s satisfaction at the workplace is directly linked to the efforts he or she is putting and what exactly he or she is getting out of it. Let's first understand what we mean when we say input. Input includes hard work, skill-set, motivation, enthusiasm, and technical know-how. Output relates to salary, perks, bonus, and recognitions in the form of awards. If an individual thinks that he/she is treated in a fair manner, which means that ratio of their input to the output is comparatively similar to those around him/her, it would be acceptable. If there is nothing to compare, then he/her would judge with employees in other organisation at the same level. However, if an individual thinks that others are getting more rewards and recognition compared to him/her who is putting in similar amount of inputs in his/her job, it would lead to some imbalance. The dissatisfaction often leaves the employee demotivated which would result in lower productivity, and in some cases attrition. There is one thing to note that equity theory does not only depend on the input-to-output ratio but also on comparison with peer group. It aims to explain why people may be happy one day, and suddenly the motivation level goes down after they learn that others are enjoying better rewards for their efforts.

Emotional Intelligence

Emotional intelligence refers to the capability of a person to manage and control his or her emotions and possess the ability to control the emotions of others as well. In other words, they can influence the emotions of other people also. Emotional intelligence is a very important skill in leadership. It is said to have five main elements such as - self-awareness, self-regulation, motivation, empathy, and social skills. Let’s understand each one of them in detail. What is self-awareness? If you are self-aware of what you are going through, you would be in a better position to understand others, and affect people around you. It also means you are aware of your strengths as well as weaknesses. When you experience anger, hold that moment and think what made you so angry. Keeping a journal always helps. What is self-regulation? Self-regulation is the next step wherein you think before speaking. It is an important aspect where you can regulate yourself. This will impact others in a positive way rather than in negatively. Hold yourself accountable in case you make a mistake, and try to remain calm in every situation. What is motivation? When you are motivated to do a series of tasks you will be in a better position to influence others. Work towards your goals consistently. Show your employees how the work is done and lead by example. Even if you are faced with a challenge try and find something good about the situation What is empathy? When you are able to put yourself in other’s shoe and think about a situation, it is known as empathy. Every successful leads should know how to empathise with others, if you want to earn their respect. What are social skills? The last aspect is social skills and it is one of the important aspects. Social skills are all about communicating your point of view o. They are able to build a rapport with others which makes the relationship more comfortable.