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Human Resource Information System PDF Print E-mail
Written by mba   
Friday, 27 November 2009 09:03

The Human Resource Information System (HRIS) is a software or online solution for the data entry, data tracking, and data information needs of the Human Resources, payroll, management, and accounting functions within a business. Normally packaged as a data base, hundreds of companies sell some form of HRIS and every HRIS has different capabilities. Pick your HRIS carefully based on the capabilities you need in your company.

Typically, the better The Human Resource Information Systems (HRIS) provide overall:

· Management of all employee information.

· Reporting and analysis of employee information.

· Company-related documents such as employee handbooks, emergency evacuation procedures, and safety guidelines.

· Benefits administration including enrollment, status changes, and personal information updating.

· Complete integration with payroll and other company financial software and accounting systems.

· Applicant and resume management.

The HRIS that most effectively serves companies tracks:

· attendance and PTO use,

· pay raises and history,

· pay grades and positions held,

· performance development plans,

· training received,

· disciplinary action received,

· personal employee information, and occasionally,

· management and key employee succession plans,

· high potential employee identification, and

· applicant tracking, interviewing, and selection.

An effective HRIS provides information on just about anything the company needs to track and analyze about employees, former employees, and applicants. Your company will need to select a Human Resources Information System and customize it to meet your needs.

With an appropriate HRIS, Human Resources staff enables employees to do their own benefits updates and address changes, thus freeing HR staff for more strategic functions. Additionally, data necessary for employee management, knowledge development, career growth and development, and equal treatment is facilitated. Finally, managers can access the information they need to legally, ethically, and effectively support the success of their reporting employees.

 
Can HRD really be quantified? PDF Print E-mail
Written by mba   
Thursday, 26 November 2009 12:28

“Mum, please help me pack. My company is sending me on a month-long tour to Canada. I will miss you all.”

“Sweetheart, I will be going to office on weekends as well, for the next couple of weeks. We have an audit coming up!"

The corporate sector (where we feel so proud to belong to) is an artificial society. It is a whole new world – like the glamour industry – which dazzles to outsiders and only the insiders know it all! Once you enter the rat race, seldom you will jump out of it. It is like the quicksand. If you attempt to play with it, it will engulf you and if you stay still – it does lesser harm. Of course, this is just one side of the story. The entire picture is not as dreadful as it may seem.

If we apply our minds and question ourselves, the answer stares back at us. Any business venture is set-up primarily for financial gains. Mind-you, this might be the most pursued goal but is certainly not the only one. It may often appear to be the overriding one but I can cite a dozen of illustrations off-hand, to drive home the point that financial gains (or “profits “as they call it in business) are not the only goals. The most common and striking reason why a young-budding entrepreneur gets into a business venture is – the free entrepreneurial spirit. It is the sheer risk-taking ability and the confidence in one self that frees and individual from a 9 to 5 (should I say 5 to 9) job. This perspective makes me believe “Exploring one’s potential and realizing it “is the hidden and real goal of business. The “risk – taker “dives into an ocean of challenges without knowing how deep the concerns are or how strong the waves could be!

Every business, which today stands as a full-fledged business empire, was born, because of one such leader – an entrepreneur, who had the dream, the vision, the determination and above all the passion of realizing his inner potential. It is worth mentioning a few names like the Tatas and Ambani who opened the world of job opportunities to thousands of people. 

We owe it to such business tycoons, that today India has a name in the global business scenario. If we look to such pioneers of business in India, the one thing common about most of them is “a genuine humane approach “to people and life. Greatest of people have also been the simplest of all. Deep in their hearts was an authentic, warm and caring attitude towards mankind. We need no research evidence to state that – a man truly altruistic at heart succeeds the most in life. And of course success to such men is not bank balances but fond memories of a well-spent life.

If the core of business is this humanistic passion, then surprising that it is enveloped by bitter layers. Layers of manipulation, politics, favoritism, and many more… It is said - we can’t market if we are unwilling to lie. We have also heard – you have to cheat to make profits and that you cannot be a good businessman if you are humble at heart. These are the bitter layers that hide the inner core which is so pure and so real!

A business does not necessarily mean a manufacturing plant or a service out station. Even hospitals and educational institutions are business entities whose humane goals are probably more obvious. 

In a school we have different organizational member’s viz. the principal, HODs, supervisors, teachers and the students. Apart from imparting knowledge the teachers play another important role of understanding the uniqueness of each child, his strengths and limitations, helping him “grow” and mould his personality. May be this is the reason why female teachers are more acceptable to young children than the traditional father figures. The academic training is just one of the roles a teacher plays; the others being more abstract or intangible; which touches much deeper into the child’s life. 

In one way, the teachers in schools are like the HRD professionals in the corporate sector who take up the task of nurturing the organizational members – who commit themselves to understanding each employee’s uniqueness, his talents and his shortcomings, who enrich the environment - making it conducive for the employee’s growth. 

I haven’t come across any school which attempts to measure or quantify this abstract or intangible role the teachers play in the lives of students. Observations are made and the child’s progress is assured. The improvement may not be apparent in a year or two; but may take years for the bud to bloom and spread its fragrance in this world. It requires patience, consistent efforts and above all – belief in the cause or intention.

Today HRD professionals seem to be struggling for survival. It is a trend these days to talk of HR being business driven or “Making HR a business process “– all energies focused on proving the effect of HR on the bottom-line. All these smart captions begin and end at Quantification – measuring the human capital. Splendid work is done to understand HRD issues like communication, motivation, team building, and leadership more scientifically – more objectively. Pseudo jargons are coined and the old wine is sold in a new bottle. This happens day in and day out. 

We need not attempt to justify HRD if we are convinced about its contribution into the business. Neither does a mother attempt to nor does a teacher. Very similar is the role of an HRD professional – to nurture people. Every business tycoon (as discussed in the earlier section of this article) was an ideal HRD manager simply because he cared enough. 

Gone are the days of Intelligence Quotient, today Emotional Quotient is given more importance. Why? Maybe because people have realized – in tough times heart rules the head. Intelligence strikes the sight but integrity wins the soul. There is ample research done to prove that people with the right attitude more than the aptitude attain success at workplace. 

We need to focus our energies into development and not into management, that too management of figures to win us our bread n butter!

Like the teaching profession HRD is also a noble one and deserves due respect. In every profession, there are black sheep. The unprofessional HRD people have contributed much for HDA to be labeled as – undeserving or disabling rather than a nurturing department. An appeal to individuals who claim to be a part of the HRD community – please do not poison this treasure which the entrepreneurs of today’s business empires have left us with and an appeal to the business community at large – please do not attempt to measure or quantify all HRD processes – as – 

“the most beautiful things in life cannot be seen or touched, but are to be felt by the heart. ”

Last Updated on Friday, 27 November 2009 08:23
 
Why communication skills are important PDF Print E-mail
Written by mba   
Thursday, 26 November 2009 12:28

The essence of success in the present technological world is "Communication with Impact". Unless you are able to express yourself very clearly, you cannot survive. Let us first understand, why communication skills are necessary

· For the Success of any system
· For Enhanced Performance
· It lets the Listener get the perfect. Idea of What? Why? How? & When?
· For Greater Effectiveness
· To keep people in Picture/Action.
· Increase in Motivation for better performance
· Full degree of Commitment to organization
· Better relationship between
(a) Boss and Subordinates
(b) Among Employees
(c) People within the organization
(d) People outside connected with the affairs of organization

· To understand the need for changes.
· To manage the changes occurring
· To reduce the resistance to change
· Seeking/receiving/exchange of Information.
· Encouragement
· To exercise control
· To sell proposals/products/concepts/ Technical knowledge/etc.
· To effectively handle

(a) Individuals
(b) Groups
(c) Teams
(d) Departments
(e) Divisions
(f) Suppliers.
(g) Contractors
(h) Bankers
(i) Customers
(j) Consultants
(k) Directors
(l) Social/Political Leaders
(m) Trade unions
(n) To counsel/To advise/

· To play different roles much as
(a) Chairman
(b) Director
(c) Managing Director
(d) Departmental Heads.
(e) Project Leader
(f) Analyst
(g) Subordinate
(h) Colleague
· To evaluate any type of communication whether they are
(a) FACTS
(b) OPINIONS
(c) GOSSIP.
To collect and to Transfer important Data both Technical/Non-Technical

Last Updated on Friday, 27 November 2009 08:06
 
How To Handle Difficult People PDF Print E-mail
Written by mba   
Thursday, 26 November 2009 12:25

The job of any manager is how efficiently & effectively he handles people at work. It is a challenge as a manager to form coalitions of willing, eager, & ambitious people within the realm of your responsibility. Handling people at work is not always as easy as it looks like, more so when a manager has to handle difficult people. They can destabilize you if you cannot understand & handle them properly. Every difficult person in the form of a boss, colleague, subordinate, friend that you come in contact with is an opportunity for you to grow & develop into a stronger, more resilient - & more serene- manager.

The coping skills need to be learned. If you get rattled with their behavior they might create a considerable damage in the smooth functioning of your department. Every organization, department, section has difficult people & these people have to be understood, handled & dealt with properly. Failing to act proactively might mean that you are scared to handle these difficult people & to make their presence felt they assume the role of a parasite slowly indulging in the act of gnawing & paralyzing the whole set up. Thus, it becomes a challenge for the managers to take these difficult people along with them while they are in the process of achieving concrete results.

How difficult people affect the work place

• Difficult people waste a lot of time. They not only waste a lot of their time but waste a lot of your time.

• Difficult people bring you down. Team efficiency suffers if you & your subordinates simply avoid the person causing the problems.

• Difficult people affect you at all levels. The effects of difficult people vary depending on whether they are coworkers, subordinates, or your boss. The problems you encounter in dealing with a difficult person stem from one of the 2 sources.

Conflicting Expectations. When you expect something from someone else – increased sales, stepped up performance, higher productivity, or more help with your workload- you set yourself up for the possibility of disappointment. Offices are full of subordinates, coworkers, superiors walking around resenting each other over expectations they never discussed, negotiated, or agreed to. Subordinates, peers, & superiors become “difficult” when they stand between you & your expectations.

- Unclear Boundaries. Boundaries can be physical or emotional- that is, what you will & will not tolerate in the way others treat you or talk to you. People who cross these boundaries without permission can seem difficult. Ex: A subordinate crosses your boundaries when he walks into your office uninvited, cuts you off in meetings, sends out department-wide directives without consulting you, or makes unauthorized purchases. He becomes a classic difficult subordinate i.e., a difficult employee. The difficult people in what ever form they are in your organization therefore deplete energy. Deplete energy dampens enthusiasm. Dampened enthusiasm decreases personal performance. Decreased personal productivity diminishes organizational performance. Diminished organizational performance destroys profits. Hence, every organization & the manager need to have a certain strategies & language to deal with them. Before we really go ahead as to how to handle difficult people, we need to understand them. If you proactively make an earnest attempt to understand difficult people in your work place, the battle is half won. Focusing on improving & forging the relationship is important because you can’t reasonably expect to change a difficult person-you can only hope to influence & change his behavior. Your power lies in your willingness to alter your own assumptions & attitudes.

When you take the initiative, you reap rich dividends.

• The Slave Driver. One kind of difficult people who makes unreasonable demands on your time, resources, & attention.

• The Black Hole. Some one who takes everything you can give & then asks for more.

• The Minutiae Monster. Someone who is inefficient, unfocussed, & obsessed with details.

• The Busybody. Someone who doesn’t respect personal & professional boundaries.

• The Recluse. Someone who is isolated & does not communicate with coworkers.

• The Bully. Someone who deliberately intimidates others.

• The Liar. A person who deliberately breaks the rules & misleads you.

• The Outlaw. Someone who doesn’t play by the rules unless they’re his own.

• The Blamer-Complainer. Someone who blames you & others for his mistakes.

• Know-It – All. Someone who claims to know everything about everything. After going through the above, you now have a fair idea of the many ways people can be difficult to work with. Note that not all difficult people will fit neatly into one of the categories but they may possess one or more traits which makes them difficult to work with. These people will behave in the most unconventional & unpredictable ways imaginable-intentionally or not. Be ready. In any event, be prepared to act decisively. To be an asset to your company, you need to be a problem solver. In other words, you need to possess certain attributes at making problems go away. The more one does, the more he commands respect, the more he commands respect, and the more he would be given difficult & complex problems.

The more complex problems he resolves, the more he commands value in the work place, the more he commands value in his work place, the more he commands a price. Thus, his career graphs sky rockets to all time high. To manage all difficult people & the problems that come with them, you need to remember one basic principle: FIRST, YOU MUST SEPARATE THE PROBLEM FROM THE PERSON.

- The Constructive Confrontation Cycle. One of the best advices given by Henry Cloud: Go hard on the issue & soft on the person. In other words, when you need to confront a staff member, bring to the table both your high work expectations & standards & a sympathetic ear. Focus on what you want to get out of the confrontation. To solve the problem, make the relationship stronger, help the person develop & empower the development.

- In a constructive confrontation cycle engage difficult employee in conversation, create a written covenant or an agreement. Schedule & conduct regular feedback & monitoring sessions. Celebrate the accomplishment of short-term goals. Repeat process until long-term goals have been achieved.

- Progressive Discipline. If you have engaged in constructive confrontation with an employee who continues to be difficult, it’s time to use the extensive counseling & documentation you’ve built up to begin a formal program of progressive discipline. Progressive discipline offers difficult employees a chance to turn their situation around, under the looming threat of dismissal.

- Give positive feedback in public, but give reprimands in public.

- Termination. Sometimes there is no other option left for the manager to deal with incorrigible people in the work place, termination is the only answer. Be as diplomatic as possible to avoid any further confrontation in your work place. Trust that you are doing the right thing for your business and then make sure you follow all the correct procedures with the support of your HR department.

- If you do need to terminate someone’s employment, the best time is at the end of the workday, preferably at the end of the week; make a point to call a meeting the next workday to notify your other employees in person. Every Manager faces difficult people while they are in the process of achieving organizational objectives.

The focus of a manager should be the company’s objectives & not the person who makes his job & your job difficult. You need to skillfully pull out the weeds as & when they appear.

 

Last Updated on Friday, 27 November 2009 08:41
 
Managerial Finance PDF Print E-mail
Written by mba   
Thursday, 26 November 2009 12:25

Managerial finance is the task of providing the funds for a corporation's activities. It generally involves balancing risk and profitability, while attempting to maximize an entity's wealth and the value of its stock.

Long term funds are provided by ownership equity and long-term credit, often in the form of bonds. The balance between these forms the company's capital structure. Short-term funding is mostly provided by banks extending a line of credit.

Another business decision concerning finance is fund management. An investment is an acquisition of an asset in the hope that it will maintain or increase its value. In investment management – in choosing a portfolio – one has to decide whathow much and when to invest. To do this, a company must:

· Identify relevant objectives and constraints: institution or individual goals, time horizon, risk aversion and tax considerations;

· Identify the appropriate strategy: active v. passive – hedging strategy

· Measure the portfolio performance

Financial accounting is more concerned with the reporting of historical financial information, while the financial decision is directed toward the future of the firm.

Last Updated on Friday, 27 November 2009 08:44
 
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