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Human Resource Management - Need of the Time

Extracts from this document...

Introduction

Summer Project Report On Human Resource Management - Need of the Time Submitted by: Virang B. Darji Roll no: 03018 MBA - I 2003-05 Work done at: Punyam management services Pvt. Ltd. In partial fulfillment of requirement of summer training - MBA Program. At Navanitlal Ranchhodlal Institute of Business Management. Gujarat University TABLE OF CONTENT PREFACE 3 ACKNOLEDGEMENT 4 EXECUTIVE SUMMARY 5 COMPANY PROFILE 6 PUNYAM GROUP ORGANIZATION STRUCTURE 7 INTRODUCTION 13 HUMAN RESOURCE PLANNING 18 JOB ANALYSIS 22 RECRUITMENT 25 SELECTION 29 TRAINING & DEVELOPMENT 31 PERFORMANCE APPRAISAL 37 EMPLOYEE WELFARE 42 MOTIVATION 44 INDUSTRIAL RELATION 49 GRIEVANCE PROCEDURE 53 COLLECTIVE BARGAINING 56 PARTICIPATIVE MANAGEMENT 59 TRADE UNION 60 CASE STUDY 61 CONCLUSION 74 BIBLIOGRAPHY 75 PREFACE The concept of human resource management is of comparatively recent origin. This does not mean that over the decade's people in all walks of life have not applied the basic philosophy of human resource management. The fact is, it is only in the recent past that an organized body of thoughts and principals which holds the developments of human ability as an investment and not cist, has been formulated and propagated. Manpower is indisputably the basic resource. It is an indispensable means of converting other resources for achievement of organizational goals. Human resource management is an integrated strategy and planned development process for effective utilization of human resource and organization. It is rather a total matching process between Hard S's (structure, system and strategy) and soft S's (staff, skill, style and super ordinate goals). An increasing number of organizations place heavy emphasis on manager's process skills in working closely with people of varied background, and in motivating employees, maintaining morale, building trust, gaining commitment, fostering teamwork, leading innovation and facilitating organizational change. On the other hand managers are expected to engage in a wide variety of HRM activities include hiring the right person for the right job, inducting and training new employees, appraising and managing the performance of super ordinates, controlling labor cists, managing organizational change and creating a corporate culture, understanding international dimension of organizational behavior and developing skills in cross-cultural negotiation. ...read more.

Middle

* Behaviorally Anchored Rating Scale: A performance appraisal method that generate critical incidence in develops behavioral dimension of performance. The evaluator appraises behaviors rather than their traits. * 360 Degree Appraisal: A performance appraisal method in which supervisors, peers, employees, customers and the like evaluate the individual. INCENTIVE PAYMENT: Individual Incentive: * Merit Pay: An increase in one's pay usually given on annual basis. * Piecework Plan: A compensation plan where by employees are typically paid for the number of units they actually produce. Group Incentive: * Plant Wide Incentive: An incentive system that rewards all members of the plant based on how well the entire group performed. * Scanlon Plan: An organization wide incentive program focusing on co-operation between manager and employee through sharing problems, goals and ideas. * Improshare: A special type of incentive plan using a specific mathematic formula for determining employee bonus. Pay for Performance: Rewarding employees based on their performance. * Competency Based Compensation Program: Organizational pay system that reward skill, knowledge and behavior. * Broad Banding: Pay employees at present levels based on level of competencies they processes. Team Based Compensation: Compensation based on how well the team performed. Fringe Benefit: The term fringe benefits refer to the extra benefits provided to employees in addition to the normal compensation paid in the form of wage or salary. The main features of fringe benefits, as they stand today, may be stated thus: * They are supplementary forms of compensation. * They are paid to all employees based on their membership in the organization. * They are indirect compensation because they are usually extended as a condition of employment and are not directly related to performance. * They help raise the living conditions of employees. * They may be statutory or voluntary. Provident find is a statutory benefits where as transport is a voluptuary benefit. Objectives of Fringe Benefits: * To create and improve sound industrial relations. ...read more.

Conclusion

* A fully equipped computer centre with a host of PCs connected through LAN * Excellent cut models of diesel engine, motor and simulators as training aids * Physical training and yoga, squash, badminton, tennis, billiards and table tennis * Medical facilities * Furnished hostel accommodation for 160 participants and a VIP Guest house ALLIANCES * Formal alliances with reputed organizations and Institutions like ASCI, Hyderabad, MDI (Management Development Institute), Gurgaon, IMI, New Delhi, ICWAI, New Delhi, Andhra University, Roorkee University, and the Indian School of Mines, Dhanbad have helped the Institute to provide quality dissemination of knowledge. The R&D wing of ONGC Academy is continuously engaged in updating strategic HRD plans to improve productivity, efficiency and effectiveness of ONGC executives. THRUST AREAS Development of core faculty in new areas * Marketing HRD expertise to E&P industry Trainings oriented to : > Organizational restructuring and transformation > Information technology > Business process re-engineering > Hi-tech exploration techniques > Enhanced oil recovery > Cost estimation and cost control > Diversification and marketing of training services > Training of trainers > Generation of ONGC related case studies CONCLUSION ONGC has undertaken an organization transformation exercise in which HR has taken a lead role as a change agent by evolving a communication strategy to ensure involvement and participation among employees in various work centers. Exclusive workshops and interactions/brainstorming sessions are organized to facilitate involvement of employees in the project. Policies and policy makers at ONGC have always had the interests of large and multi-disciplined workforce at heart and have been aware of the nuances and significance of cordial Industrial relations. By enabling workers to participate in management, they are provided with an informative, consultative, associate and administrative forum for interactive participation and for fostering innovative culture. In fact, ONGC has been one of the very few organizations where this method has been implemented. It has had a positive impact on the overall operations since it has led to enhanced efficiency and productivity and reduced wastages and costs. ...read more.

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