HUMAN RESOURCE AND HOW THESE RESOURCES CAN BE MANAGED BY BRITAM INSURANCE TO MEET THE CHANGING BUSINESS DEMANDS Human resources are the individuals who make up the workforce. Each organization works towards the realization of one vision. The following are the various HR processes and how BRITAM can managethese resources to meet the changing business demands: 1. Through Human resource planning (Recruitment, Selecting, Hiring, Training, Induction, Orientation, Evaluation, Promotion and Layoff). 2. Through Employee remuneration and Benefits Administration 3. Through Performance Management. 4. Through Employee Relations.
| Human Resource Planning: Generally, Human Resource Planning is considered the process of people forecasting. It also involves the processes of Evaluation, Promotion and Layoff. * Recruitment: It aims at attracting applicants that match a certain Job criteria. * Selection: The next level of filtration. Aims at short listing candidates who are the nearest match in terms qualifications, expertise and potential for a certain job. * Hiring: Deciding upon the final candidate who gets the job. * Training and Development: Those processes that work on an employee on-board for his skills and abilities up gradation. Employee Remuneration and Benefits Administration: The process involves deciding upon salaries and wages, Incentives, Fringe Benefits and Perquisites etc. Money is the prime motivator in any job and therefore the importance of this process. Performing employees seek raises, better salaries and bonuses.
Performance Management: It is meant to help the organization train, motivate and reward workers. It is also meant to ensure that the organizational goals are met with efficiency. The process not only includes the employees but can also be for a department, product, service or customer process; all towards enhancing or adding value to them. Nowadays there is an automated performance management system (PMS) that carries all the information to help managers evaluate the performance of the employees and assess them accordingly on their training and development needs. Employee Relations: Employee retention is a nuisance with organizations especially in industries that are hugely competitive in nature. Though there are myriad factors that motivate an individual to stick to or leave an organization, but certainly few are under our control. Employee relations include Labor Law and Relations, Working Environment, Employee heath and safety, Employee- Employee conflict management, Employee- Employee Conflict Management, Quality of Work Life, Workers Compensation, Employee Wellness and assistance programs, Counseling for occupational stress. All these are critical to employee retention apart from the money which is only a hygiene factor. All processes are integral to the survival and success of HR strategies and no single process can work in isolation; there has to be a high level of conformity and cohesiveness between the same. DESCRIPTION OF THE MAIN PHYSICAL AND TECHNOLOGICAL RESOURCES NEEDED BY BRITAM INSURANCE LIMITED Physical Resources
These are physical resources the company needs to manage and maintain for its activities to carry on smoothly. They include buildings, facilities; machinery etc. management of the physical resources includes maintenance and refurbishment. Maintenanceand refurbishment of the buildings would be by the provision of strategic locations both benefiting the employees and the clients. The maintenance and refurbishment of machinery would be inclusive of computer hardware, vehicles and stationery that would be useful in the business activities.
By both accommodatingBRITAM’S and the clients interest, they have come up with resources that prevent illegal dealings and malpractices. These resourcesinclude, software licensing, copyrights protection etc.
IMPORTANCE OF ENSURING THERE ARE ADEQUATE RESOURCES TO MEET BRITAM...
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