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MGT431 Trends and Challenges Paper WEEK 5 TEAM PAPER


MGT431 Trends and Challenges Paper WEEK 5 TEAM PAPER fin571

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MGT431 Trends and Challenges Paper WEEK 5 TEAM PAPER
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This 0 page Study Guide was uploaded by an elite notetaker on Tuesday November 10, 2015. The Study Guide belongs to fin571 at Kaplan University taught by in Fall 2015. Since its upload, it has received 30 views.

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Date Created: 11/10/15
Running head TRENDS AND CHALLENGES PAPER Trends and Challenges Paper Team Member 3 name MGT 431 date Teacher TRENDS AND CHALLENGES PAPER 2 Trends and Challenges Paper In the world of business the use of performance management systems or annual performance appraisals is one that is viewed differently by each organization and management team Although these two methods have some of the same characteristics they also contrast in many ways Performance appraisals can be an effective tool for organizations but along with many business techniques can be problematic Another important method that should be practiced by organizations is the management of turnover rates A swinging door of employees leaving and entering can quickly become a costly routine for an organization In this the organization must make sure the employee is respected treated fairly and given an opportunity to speak his or her concerns In a business world with labor laws employers have more competition of safe and friendly work environments Safety and health management must be made a priority in all organizations Safety and health regulations are put in place by laws and it is management s job to ensure they are understood and followed regularly These are just some of the responsibilities and challenges of management and will continue to change Management should take steps to prepare for certain future challenges that may arise Management system versus annual performance appraisals Performance management systems and annual performance appraisals are two controversial topics in management and organizations Although the two share some of the same qualities they are not the same The question of their effectiveness is what employees challenge the most While the organization and management purpose may be to achieve the company s mission and goals Employees have another perspective unfair and unrealistic According to the TRENDS AND CHALLENGES PAPER 3 Human Resource website performance management is the process of creating a work environment or setting in which people are enabled to perform to the best of their abilities Heathfield 2010 p 1 Performance management systems exemplify three phases a setting expectations for employee performance b maintaining a dialogue between supervisor and employee to keep performance on track and c measuring actual performance relative to performance expectations Annual performance appraisals are individual measuring tools designed to help supervisors increase productivity communicate expectations establish goals for the coming year and report the employee39s success in meeting the past year39s performance expectations Heathfield 2010 p 1 Performance reviewsappraisals are scheduled annually and often coincide with the employee39s date of the hire Supervisors and employees both experience negative feelings prior to the review because the confrontation is not always positive However if the two parties can remain objective open honest and listen a fair agreement can be reached Exercising these keys will enhance the goals and objectives of the organization as well as recognize the strengths of their employees Effectiveness Organizations use performance appraisals for various reasons Some of the reasons are to praise an employee for his or her work advising and employee of what is expected on a dayto day basis to improve performance or for the organization as a rating tool These areas are effective for the employee because it alerts the employee to what the organization and the TRENDS AND CHALLENGES PAPER 4 manager expects from the employee s work product In addition it advises the employee of what areas the employee can improve to meet individual and organizational objectives Performance review in organization should occur when an employee arrives to establish what the organization s objectives are and what individual objectives the employee should strive to meet An effective performance appraisal program will access the employee at a midterm to provide advice if the objectives are being met or what areas need improvement The suggestions are accompanied with training points and timeframes for the employee s success The annual performance appraisal is to show the employee how well he or she has done throughout the year If the appraisals are done correctly the employee and manager can see progress If the manager uses the appraisal as a tool for distribution of increases this document will serve as a guide of how proportions of the allocation can be divided The downfalls in the performance appraisal when strict organizational processes are used and the daytoday management must adhere to a process that does not comply with the work in a particular area Problems Standardized appraisals within an organization keep management from giving an employee rating that may be deserved A possible resolution to this issue is to redesign an appraisal form for the areas that the employee s initial objectives are set Other problems with the performance appraisal are human tendency to be judgmental biases and what in uences are put into the review of the employee Each of these problems poses a detriment to the employee According to the Human Resource Management website which states leniency strictness TRENDS AND CHALLENGES PAPER 5 personal prejudice and the halo effect are all problems with performance appraisals Ngo nd p 1 Advantages of managing turnover in organizations Labor turnover uctuates with the economic cycle and is affected by economic recessions and growth Turnovers are determined by the length of time an employee enters and exit his or her position within an organization Turnovers can be employer controlled dismissal early retirement employee led quit or employer and employee uncontrolled longterm sickness normal retirement death If the decision is positive such as a promotion it can be beneficial to the organization However if the turnover is negative it can be costly because of recruitment of new employees training production and serVice expenses Therefore managers are prompted to come up with control methods to prevent excessive turnover rates Chartered Management Institute suggests an action plan that can be used within any organization The steps are as follows 1 Establish the extent of the problem 2 Benchmark organization against others 3 Work out why turnover takes place 4 Ask them why they leave 5 Assess the effects of turnover 6 Implement retention strategies TRENDS AND CHALLENGES PAPER 6 As a result of being proactive some of the advantages of managing turnovers in organization can lead to effective recruitment cost reductions positive employee morale and an improved knowledge of the labor market The key is to try and find a place where the business has a turnover rate which is affordable and still enables the business to grow and profit Contemporary safety and future trends Management of safety and health within an organization is a very important responsibility for any business The protection of workers is regulated by the company so it is extremely important that management takes the proper steps to ensure employee health and safety According to Human Resources website Occupational Safety and Health Act OSHA Act is the most comprehensive US law regarding worker safety Noe Hollenbeck Wright amp Gerhart 2007 p 1 The OSH Act authorized the federal government to establish and enforce occupational safety and health standards for all places of employment engaging in interstate commerce Noe Hollenbeck Wright amp Gerhart 2007 p 1 The Occupational Safety and Health Administration inspects employers and issues fines for violations so it is important that an organization follows the rules to avoid fines and creating a bad reputation According to the Occupational Safety and Health Administration OSHA the workplace must address contemporary safety and health management issues in order to reduce workplace hazards promote a culture of health and safety and strengthen the effectiveness and efficiency within the infrastructure in a place of employment United States Department of Labor 2010 p 1 Understanding safety and health management issues in the workplace can TRENDS AND CHALLENGES PAPER 7 result in a better work environment improved statistical data and less injuries illnesses or even death Issues in Safety and health management include reports of dangers serious accidents employee complaints whistleblowers39 activities and individual areas of concern according to OSHA A number of hazards affect a workplace which includes air contaminants chemical biological physical and ergonomic Employee training is very important to ensuring that employees understand any risks and are well trained in how to be safe and protect him or herself from any health risks With the change of business heading into the future human resource management is undergoing transformation as well Employers are automating and outsourcing many administrative responsibilities Therefore many jobs in HR will no longer exist in the future The HR jobs that remain are will be less paperwork and more strategic planning Those who aspire to leadership roles within the profession will have to become more strategic more proactive more involved in the overall business of their employer say the experts B ates 2010 p1 Companies will require strategic support from HR in the future Some challenges affecting HR are raising health care costs domestic security change of technology and need for human workers and elearning For the future organizations will need to put greater effort into selecting and retaining the most talented employees providing better employee training and development and changing traditional organizational structures that limit employees abilities to be innovative to meet the changing needs of their organization Strategic planning will be critical to meeting these challenges Conclusion TRENDS AND CHALLENGES PAPER 8 Management of organizations has many responsibilities ranging from performance evaluations and managing turnover all the way to safety health and predicting possible future challenges An organization greatly relies on the quality of management and their effect on the entire workforce Taking care of the employees within an organization entails many details Performance management systems enable employees to be recognized for their hard work showing employees they are respected Effectively managing turnover rates isn t only beneficial to the organization but to the employees as well If employees are leaving often enough to cause an expensive turnover rate there is a reason and finding this out can change the organization and create satisfied employees Human Resource Management may be faced with new trends and challenges as the world of business changes but one thing remains the same they role is important and appreciated by employees and organizations worldwide TRENDS AND CHALLENGES PAPER Reference 2005 Managing staff turnover and retention Publication Chartered Management Institute Checklists People Management Retrieved from httpgoliathecnextcomcoms2gi 01995 199562Managingstafftumoverand retentionhtml database 2010 United States Department of Labor Retrieved from httposha gov Bates S 2010 BNet CBS Retrieved from httpfindarticlescom particles mim3495is747ai89025017 Heathfield SM 2010 Performance Management Is NOT an Annual Appraisal Performance Management A Whole Different Focus Retrieved from httphumanresourcesaboutcomodperformanceevalsaperformancemgmthtm database Human Resource Management 2010 Annual Performance Appraisals Retrieved from httpWWWutdallaseduhrmerpmappraisalsphp5 database Ngo D nd Problems in performance appraisals Retrieved from httpWWWhumanresourceshrvinetcomproblemsinperformanceappraisal Noe R A Hollenbeck J R Wright P M amp Gerhart B 2007 Fundamentals of Human Resource Management Retrieved from httpsecampusphoenixeducontenteB ookLibrary TRENDS AND CHALLENGES PAPER 10


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