ENTREPRENEURSHIP

Governor Pack Road, Baguio City, Philippines 2600

Tel. Nos.: (+6374) 442-3316, 442-8220; 444-2786;
442-2564; 442-8219; 442-8256; Fax No.: 442-6268 Grade Level/Section: ABM 12
Email: email@uc-bcf.edu.ph; Website: www.uc-bcf.edu.ph

MODULE 9 – ENTREP Subject Teacher:

Managing The Human Resource Function Of The Enterprise: Part 2

Learning Objectives:

At the end of this module, the learners are expected to:

a. define total rewards management; and
b. identify trends in Human Resource Management; and
c. identify the challenges in the modern Human Resource Management.

Total Rewards Management

According to Josh Bersin, Total Rewards Management is the critical integration of an

organization’s approach to incenting and rewarding its talent. In a simplified sense, it refers to the
process of providing incentives or rewards to the performance of the employees. It also explains the
healthy and ongoing connection between the employer and employees.

Total Rewards Management often refers to the provision of the following:

1. Basic Compensation Package;

2. Employee Benefits;
3. Work-Life Effectiveness;
4. Performance Management;
5. Talent Management
6. Retirement Benefits; and
7. Private Pension Plans;

Total Rewards Management plays important role in attracting pools of talents and maintaining
valuable members of the workforce. It does not only focus on giving remunerative forms of rewards
and incentives to employees, but also extends to the provision of trainings and development
programs.

Note: There is no single standard on how total rewards management is implemented in the business
organization. A good tip of a more effective total rewards management necessitates looking into the
demographics for the targeted skillsets to find out what professionals or set of workers value most as
means to get incentivized or rewarded for services rendered.

Work-life Balance

Business organizations must consider not only the professional needs of the employees, but
also their personal and emotional needs. A healthy work environment which allows the workers to
deal with their personal endeavors outside the workplace is an important aspect of total rewards
management. A favorable rest periods and leave benefits often promotes a healthy work-life
balance.

Entrepreneurship Page 1 of 3
 ENTREPRENEURSHIP
Governor Pack Road, Baguio City, Philippines 2600
Tel. Nos.: (+6374) 442-3316, 442-8220; 444-2786;
442-2564; 442-8219; 442-8256; Fax No.: 442-6268 Grade Level/Section: ABM 12
Email: email@uc-bcf.edu.ph; Website: www.uc-bcf.edu.ph

MODULE 9 – ENTREP Subject Teacher:

Trends and challenges in human resource management

It is a recognized fact that the business world is becoming more dynamic, and this dynamism
requires significant changes in the role and scope of human resource management. The human
resource management, being a business-driven function, must be intimately focused on the thorough
understanding of the strategic corporate direction including its ability to influence key policies and
decisions.

Trends

1. Flexibility in Human Resource Strategies; HR Innovation. Business organizations are introduced to

pools of new performance management models, learning methods, tools in reducing bias, recruitment
and selection procedures, and training schemes.

2. Technological advancements. Numerous digital applications are now available to the human
resource department. These intelligent applications deal in attracting talents, worker performance
analysis, applicant tracking and assessment, enterprise management, and internal management.
These advance tools facilitate a more efficient process of decision making by using them as a
collaborator.

3. Smart Recruitment. Many business organizations already shifted to an automated recruitment. This
makes the scope of recruitment wider in scope and makes it easier for the business enterprise to look
for the scarce skills and competencies.

4. Change in Talent Sourcing. Gone are the days that employees look for a full-time job. The norm has
shifted to a more flexible employment which blends to an increasing demand of hiring remote workers
on a flexible schedule.

Challenges

1. Change Management. A change in the management of an enterprise makes it vulnerable to a

change in the needed competencies required from the members of the workforce. A good strategy
to mitigate the negative impact of the change in the composition of the management is an intensified
focus on training and development programs in order to allow employees discover added
competencies to deal with change management.

2. Employee Retention. An important ingredient of attaining the enterprise’s market position is the
consistency on the performance of its employees. A consistency in the organizational culture is only
possible with a good retention rate of employees.

Relevant to the concept of employee retention is leadership management. Personnel who assume
leadership functions or roles shall be trained to lead, supervise, train, and incentivize their subordinates
in a long-term basis. Losing any one of them may result to a significant change in the organizational
culture which could have been long practiced by the business enterprise.

3. Compensation. Compensation is considered one of the motivating factors which attract applicants
to join the business enterprise and/or makes an employee stay in the business organization. Business
organizations often compete in procuring applicants on the basis of the compensation packages they
Entrepreneurship Page 2 of 3
 ENTREPRENEURSHIP
Governor Pack Road, Baguio City, Philippines 2600
Tel. Nos.: (+6374) 442-3316, 442-8220; 444-2786;
442-2564; 442-8219; 442-8256; Fax No.: 442-6268 Grade Level/Section: ABM 12
Email: email@uc-bcf.edu.ph; Website: www.uc-bcf.edu.ph

MODULE 9 – ENTREP Subject Teacher:

offer. While high compensation is ideal to attract and retain employees in the business enterprise, its
capacity to give the same, however, must be factored in as well as not to compromise its financial
resources.

4. Succession Planning. Business organizations often deal with the problem of developing a fast and
promising promotion program available for its employees. Promotion is one of the means to provide
professional growth among the members of the workforce. In today’s business environment common
among many business organizations, it is highly improbable to carry-out promotions of employees over
a short-period of time.

References:
BAL 338.04
Kuratko, D. (2012). Entrepreneurship: An Introduction. Pasig City: Cengage Learning Asia
K9654
2012 Pte. Ltd.
BAL 658.421 Batisan, R. (2016). Entrepreneurship. Makati City: Diwa Learning Systems Inc
B3208
2016

BAL 658.421
Aduana, N. (2016). Entrepreneurship in Philippine Setting. Quezon City: C&E Publishing,
B3208
2016 Inc.

Kotler, P., & Armstrong, G. (2013) Principles of marketing (14th ed.). Harlow, England:
Pearson Education Ltd.

Zarate, C. (2016) Organization and Management

Entrepreneurship Page 3 of 3