Strategic Human resource Management Essay Example | Topics and Well Written Essays - 1500 words

Strategic Human resource Management - Essay Example On similar lines, in our organization, performance of front line executives is measured on the basis of productivity and quality achieved. Although organizational values incorporate specific behavior, values and conduct expected from employees, these have minimal impact on their performance outcome. Measuring performance of front line employees on the basis of productivity and quality is more like following scientific management principles of Taylorism and Fordism, which are incongruent with contemporary management and organizational behavior as well as organizational requirements. Currently, performance management should focus on overall efficiency of the organization and a continuous sustainability. The ever-increasing competition in the products’ and services’ markets requires people to be more innovative in creating newer products, features, systems, and mechanisms of working. Innovation in types of services provided as well as improving profitability for organizati ons is also much required. Now that the number of employees at the front line is the maximum and these groups are directly into carrying out core operations of the organizations, maximum contribution towards innovation can be expected from this group. However, with no direction and returns, they will not be motivated to think out of the box and/or go extra mile to achieve the uncommon or untold tasks. Strong support from leadership at all levels and for all groups of employees is also required to encourage innovation and extended contribution from employees. This would also mean accountability from leadership perspective that can be measurable. Lack of such support and practices will only result in decreasing motivation and commitment from employees, which is the case presently in our organization. Area of improvement and reasons for the change: In order to address this aspect of performance management and employee behavior, it would be best to include a component of employee behavi or in performance management that can create accountability for the desired behavior besides encouraging specific behaviors that would be beneficial for the employee development as well as the organizational growth. Performance management is a process employed by organizations to continuously improve their employee performance, enhance employee motivation and look for opportunities to innovate or further improve in order to gain as well as sustain competitiveness. This is a complex and critical process that has been researched immensely and has resulted in different methods. Performance measurement has been a universally adopted method of performance management. Measurement of performance at every level and in every function is a distinct activity, and cannot be combined. Although the organizational goal remains unique and single, different activities need to be performed in order to achieve that goal by different people having distinct skills and capabilities. Because the nature of work performed by these people contributing to achievement of organizational goal is different, they have to be measured differently, that is accurate and appropriate, in order to help in achieving the desired results. Halachmi (2005) asserts that in order to advance performance there is a need to manage

The importance of regulation in the financial markets Essay

The importance of regulation in the financial markets - Essay Example The regulatory policies safeguard the interest of the borrowers and investors. In addition, these policies remedy economic instability. (Ahearne, William & Francis, 330). The financial market regulation in the US focuses on prudence. The Financial institutions are regulated to ensure their reliability. Scholars argue that the regulations are aimed at providing a smooth credit cycle (Cetorelli, Nicola & Philip, 454). The financial market regulation dates back to the mid 19th century when the money supply solely relied on bank credits. The US Federal Reserve was established in 1907 as a lender of last resort. The paper will analyze the circumstances under which the financial market functions poorly. In addition, it will also discuss the importance of regulations in the financial market. The banking sector can perform better in a market system in which the demand and supply of credit are self-adjusting. Interest rates are determined by the interplay of demand and supply for money. In addition, they play a primary role in the resource allocation process within the economy. For as long as there is an economic freedom, the banking sector plays a positive role in enhancing the national output. Classical economists argue that the state interference with the market, inhibit economic growth. The state interferes with the market by imposing an interest rate ceiling, directed credit and selected credit control. Direct government intervention in the in the financial market can result in financial repression. It has severe effects on the saving and investment levels in the economy (Eichengreen, 360). Strict regulations in financial markets inhibit the functioning of the financial sector. The rules restrict entry into the financial market. A high capital requirement for establishing a financial firm makes it difficult for potential entrants. As a result, the already established financial institutions gain monopoly and charge high-interest rates for their