Accounting-Finance

Learning Materials For Accounting, Management , Finance And Economics.

Wednesday, April 3, 2013

Needs Or Importance Of Career Planning

HRM ,
Career planning is needed for the following reasons:

1. Provides career goals and paths

Career planning is needed to provide career goals and career paths to an employee. It provides a clear future directions in terms of career. 

2. Develop competencies

Career planning motivates and encourages an employee to develop competencies for higher level jobs. The competencies can be conceptual, interpersonal and technical.

3. Creativity

Career planning is needed to increase employee creativity. It is needed for innovation in organization. It can be lead to entrepreneurship within the organization.

4. Employee retention

Career planning is needed for retention of qualified employees in the long-term. This is needed to decrease costs of recruitment, selection and training.

5. Motivation

Career planning motivates employees for higher performance. Upward movement in organization is based on the quality and quantity of performance.
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Tuesday, April 2, 2013

Concept And Meaning Of Career planing

HRM ,
Career planning is a process by which one selects career goals and the path to those goals. It involves a clear selection of career goals and career paths.

Career goals
Career goals are the desired future positions an employee strives to reach as a part of career.

Career path
Career path is the sequential patter of jobs during a career. It can cover a period of 30 years or more till retirement of the employee. It takes a long term perspective of the job. 

Career planning is a continuous process. HRM should facilitate it by providing career education, information and counselling to employees for career planning purpose.

1. Career education

Career education increased employee awareness about career planning through a variety of educational techniques, such as:
- Workshops and seminars about career planning
- Memoranda and position papers about career planning
- Speeches about career planning

2. Career information

Career information provides information to employees about career planning. Such information can be available through Human Resource Information System. HR specialists can advise about career goals and alternative career paths.

3. Career counselling

Career counselling is done by professional counselors. They listen to employees and provide job-related information. They help employees to uncover their career interests. Employee self-assessment and environmental assessment is  made during for career counseling.


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Concept And Meaning Of Career

HRM ,
Employees join organizations for a career not for jobs. All employees aspire for a career. A career is a pattern of job-related experiences gained during one's working life. Career is a sequence of jobs held during the course of an employee's working life.

Career can be of two types as follows:

1. Internal Career

Internal career is subjective. It is an individual's self-concept of where he/she is going in his/her work life. It consists of changes in values, beliefs, attitudes, and ambitions that occur as the employee grows older. Each person's career is unique.

2. External Career

External career is objective. It is sequence of positions occupied during the working life of an individual. It leads to increasing level of responsibilities, status, power and reward.

Career needs to be carefully planned. It is the self responsibility of the employee. Managers and organizations should facilitate career planning.
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Monday, April 1, 2013

Methods Of Prevention And Settlement Of Labor Disputes

HRM ,
Labor disputes should be redressed or prevented as soon as possible. Prevention of dispute means, avoiding it from the very beginning of its occurrence, where as, settlement of dispute means, managing the existing dispute through the use of different management tools and techniques. Following are the main methods of settling disputes:

1. Collective Bargaining

It is concerned with a process of negotiation, settlement and administration of disagreement between management and workers. In collective bargaining, workers are represented by their representatives for the determination of mutually trusted terms and conditions at work. Under this method of dispute settlement, employees and management sit together to discuss about the agendas and problems of employees. Then, an agreement is reached being based upon consensus of both the involving parties to settle the existing disputes or to avoid future occurring labor disputes in the organization.

2. Grievance Handling

Employee grievance is the perception of unfair treatment at work. In every organization employees have complaint against their employers. Hence, a complaint affecting one or more employees at a time does constitute a grievance. Grievances are symptoms of conflict in an organization; hence, they need to be managed promptly and efficiently. Therefore, a proper step should be taken towards the systematic settlement of grievances in the organization.

3. Conciliation

Conciliation means settlement of dispute by persuation of third parties. In simple terms, conciliation means reconciliation of differences between individuals. It refers to a process by which the disputing parties are brought together before a third party with a view to settle the disputes through persuation. They discuss about the issues and problems and reach upon at an agreement. During discussions, the third party can only provide suggestions but cannot influence either party for the implementation if its suggestions.

4. Mediation

It is similar to conciliation under which a third party is appointed for recommendations and suggestions. Under this process, the party plays more significant role as compared to conciliation. Here, the third party works as an arbitrator by giving a solution on a dispute while in conciliation the conciliator only facilitates the talk between disputing parties. 

5. Adjudication

It is an ultimate legal remedy of any dispute. Under this method, the disputes are settled in reference to adjudication by the government. Hence, this is regarded as a process of mandatory settlement of any dispute through adjudication with or without the consent of disputing parties.
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Monday, March 11, 2013

Causes Of Labor Disputes

HRM ,
Main causes of labor disputes are as follows:

1. Economic Causes

Economics causes of labor disputes are related to the variables consisting of interest disputes which are concerned with the economic condition of workers and management. The variables under it are as follows:
- Bonus
- Working conditions
- Industrial problem

2. Managerial Causes

The unfair labor practice by the management too lead to labor disputes. Sometimes, management performs insufficient and unfair policies and procedures to raise organizational profit. But such unfair practices enrage the workers and lead to labor disputes. They are reflected by:
- Non-recognition of unions
- Selection and development
- Job security
- Leadership style
- Communication

3. Political And Legal Causes

This refers to all political and legal forces that affect labor dispute in the organization. Political instability and poor legal procedures affect industrial peace to a large extent. Some of its components are:
- Political interference
- Union conflict
- Political change

4. Psychological Forces

Everyone has his/her own psychological feelings, attitudes and beliefs. This difference in beliefs and psychological aspects of individuals may bring some labor disputes in the organization. Some of the psychological causes are:
- Appreciation
- Authority and responsibility
- Unfair treatment 
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Concept And Meaning Of Labor Disputes

HRM ,
Poor industrial relations culminate labor disputes in an organization which are manifested in the form of strikes, lock-outs and other industrial actions. The common consequences of labor disputes are loss of production, loss of profit, and even the closure of the organization. Disputes are common in industries; so their nature and causes are inevitable for the organization to study.

Labor disputes can be defined as conflicts or disagreements over the rights and interests of employees with the management. It means, disputes  are the disagreements between employees and the employers in matter relating to organizational procedures.The contradiction can be in ideas and views of workers and managers. In a broader sense, labor dispute can occur not only between workers and managers, but also between workers and workers, or between employers and employers. Hence, such disputes are symptoms of industrial unrest in which both workers and managers try to pressurize each other. Therefore, an attempt should be given towards the settlement of disputes whenever they occur.
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Concequences Of Employee Grievance

HRM ,
Employee grievance may be resulted either from management policies, or working conditions of the organization or personality traits of employees. These are the primary forces that give impetus to the emergence of grievance in the actual work floor. A firm can hardly operate without the influence of grievance. Hence, handling grievance through appropriate procedures play a key role in the settlement of management's mistakes and weakness. If grievances are handled with a proper care and attention, they will introduce positive changes in the organization, thereby enhancing organizational productivity and employee satisfaction.

But if the grievance are not managed properly, they will create some negative impacts. Such impacts reduce organization's output as well as productivity. The negative consequences of employee grievance are:

- Reduced Productivity
- Absenteeism Problem
- Disobeying of orders
- Indisciplined behavior
- Reduced quality of work
- Reduced co-operation among the employees
- Discouragement in employees
- Disharmonious relation between management and employees

Therefore, a due consideration should be given towards the proper settlement of employee grievance instantly when they occur.
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