FINANCIAL SERVICES

Financial Services

Financial Services

Introduction

(HRM) has become an important tool to promote the rapid development of modern enterprises. One of the core functions of HRM is to settle compensation and benefit packages for the employees. An effective training, rewards & recruitment system must include competitive system which should be performance oriented. Reward, training & recruitment system will be an effective tool to promote the realization of enterprise strategic goals. Reward, training & recruitment management changes the enterprise' spirit and the relationship between labor and management, increase the enterprise' competitive edge and vitality in its own special way. It plays an important role in the process of reforming and guiding the financial enterprise.

The difficulties in Training

The function of training and developing human resources are only the initial stages in building an effective workforce. The development of human resources, in fact, should be viewed as beginning with their induction and continuing throughout their employment with the organisation. SHRD has become a vital tool to the success of modern organisations. Rapidly changing technology requires that employees possess the knowledge and skills necessary to cope with new processes.

Training plays a crucial role in generating improved organisational performance and individual growth, but it must be aligned with corporate objectives if an organisation is to gain any real benefit from expenditure. Failure to link T and D to business objectives means that the organisation's competitive strategy will not be supported. T and D will take place for their own sake. The ultimate purpose of T and D is to help the organisation and individuals to compete more effectively, now and in the future. It involves a strategic, long term and systematic way of thinking about people. To add value, T and D activities must be derived from an explicit strategy that is consciously linked to the business strategy.

The HR manager can contribute toemployee development by reminding management of the strategic importance of T and D and by ensuring that the organisation is attractive to talented employeesTrainings are planned programmes designed to improve organisational performance for individuals or groups. Improved performance in turn means that there have been measurable changes in knowledge, skills and attitudes. Training represents activities that teach employees how to better perform their jobs; while development involves those things that prepare an employee for future responsibilities. Human Resource Development (HRD) includes T and D, career planning and performance appraisal. It focuses on the acquisition of the required attitudes, knowledge and skills to facilitate the achievement of employee career goals and organisational strategic objectives.

The difficulties in recruiting

What is and is not key to motivating employees. Do employees want fun, work-life balance, a pleasant office environment, or a boss with an iron will? The exact formula for a truly motivated team remains elusive, but new research out yesterday from consulting firm Watson Wyatt suggests managers add another ingredient: clarity. The survey of over 14,000 employees across Europe found that the most important factor for employee motivation was a clear sense of the company's strategic ...