Professional Documents
Culture Documents
In a very fast pace global environment where the market is evolving, there is an
imperative goal for an organization to scrutinize the benefits of performance
management. Wherein, the employee’s performance is given more importance in an
organization, in measuring the performance of the employees. A systematic approach in
assessing their performance is used, an approach which aligns the mission, goals and
objectives and set priorities in an organization to function effectively and efficiently.
In the world of human resources, record management is the most interesting and
critical activity they do on a regular basis. With the constant increase in employee
numbers, there is a numerous of personnel data that must be correctly managed during
each employee's stay. More so, employee record management is very essential, not
just to keep track of your human resources but also for legal and audit purposes.
Additionally, keeping accurate records can help recruitment, identify gaps in skills, and
save time while performing administrative duties. And also, to improve Human
Resources department and ease the burden during inspections, there are some aspects
that must be consider such as preventing litigation, ensure competency, continue
networking, for employee and managerial review, and meet legal requirements to
improve the accuracy of your employee records.
For a variety of reasons, the department collects and stores employee information
in which the employees are informed of the reason for which the information is needed,
as well as the bodies or agencies to which the department may release personal
information in order to comply with privacy regulations. In addition, Human Resource
Information acquired by the Department may be stored in personnel files either
electronically or in hard copy form. As a matter of fact, employee information is collected
and maintained by the Department and its schools in compliance with the different
legislation such as Public Records Act 1973; Fair Work Act 2009 (Cth); Privacy and
Data Protection Act 2014; Freedom of Information Act 1982; Occupational Health and
Safety Act 2004; Health Records Act 2001; and the Workplace Injury Rehabilitation and
Compensation Act 2013.
Attracting and retaining the best employees is essential for long-term organizational
success. The design and implementation of an effective compensation and benefit
system is a salient component in keeping such employees. Compensation and benefits
are the monetary and non-monetary benefits that a company provides to its employees
in addition to their salary. It is a function of the Human Resource Management
Department in which payments and other benefits is administered and managed by a
Human Resource Officer.
In large organizations, competition exists not only in the market for goods and
services, but also in the market for employee quality. As a result, a large organization
can only become appealing to the most skilled and high-quality workers if it has an
effective compensation and benefit plan. The primary goal of an effective compensation
and benefit system is to provide employees with the appropriate rewards for their efforts
and behavior in the workplace. Typically, it is an important aspects of an employee's
satisfaction at work, as they have a direct impact on an employee's performance and
motivation to work.
Currently, compensation and benefit plays a remarkable role for the organization
that aim to accomplish their objectives and goals. Low compensation and benefits will
lead to poor performance, which will lead to dissatisfaction, which will increase
absenteeism in employees and reduce the outcome. On the other hand, to help create a
successful workplace, HR professionals must take the lead on wellbeing and
incorporate it into their people strategies. Data collection, workforce engagement,
measuring results, listening to feedback, and improving policies and practices are all
part of this process.
Furthermore, there are two types of compensation: direct and indirect. Direct pay is
the employee's wage or salary while indirect pay consists of various employee benefits
and services. Employees are typically compensated directly based on the amount of
time they work, the amount of work they produce, the type of work performed, or some
combination of skill, time, and output. Different establishment of incentives, which in turn
aids in the retention of employees' motivation to achieve more and faster.