Human Resource Management Flashcards

Human Resource Management (HRM)

Overview of Human Resource Management

  • Human Resource Management (HRM): A strategic approach to managing people within an organization.

    • Aims to maximize employee performance and well-being.

    • Essential for achieving business goals.

    • Involves various functions:

      • Recruiting

      • Hiring

      • Training

      • Developing

      • Retaining Employees

    • Also includes:

      • Managing compensation and benefits

      • Workplace culture

      • Compliance with labor laws

Theoretical Bases of Human Resource Management

  • HRM's theoretical foundations draw from multiple disciplines:

    • Psychology

    • Sociology

    • Economics

    • Management

  • Key Theories:

    • Classical Management Theories

    • Human Relations Theories

    • Motivation Theories

    • Strategic Human Resource Management (SHRM) Theories

    • Contingency and Systems Theories

    • Institutional and Ethical Theories

Strategic View of Human Resource Management

  • Strategic Human Resource Management (SHRM): Aligning HR practices with the company's long-term objectives.

    • HR's role extends beyond employee-related tasks to shaping business strategies.

    • Example: Google uses HR analytics to predict staff needs and enhance job performance.

    • Aids companies in gaining a competitive edge by ensuring the right people are in the right roles.

  • Focus Areas:

    • Talent management and leadership growth

    • Employee engagement and performance improvement

    • Workforce planning and organizational culture

Changing Landscape of Human Resource Management

  • HRM continuously evolves due to:

    • Technological changes

    • Workplace diversity

    • Shifting employee expectations

  • Essential Changes:

    • Technological Integration: AI and automation are used in recruitment, training, and employee performance monitoring.

    • Remote Work and Flexibility: Many companies offer hybrid setups post-COVID-19 pandemic.

    • Diversity and Inclusion: Organizations emphasize hiring diverse employees to foster creativity and innovation.

    • Employee Well-being: Companies focus on wellness, emotional well-being activities, and work-life balance.

Workforce Planning

  • Workforce Planning: A process to determine an organization’s current and future workforce needs.

    • Ensures having the right number of people, with the right skills, at the right time.

    • Aims to meet business objectives.

  • Key Action: Determine the manpower need.

Theoretical Bases of Workforce Planning

  • Human Capital Theory:

    • Employees' skills, education, and experience are valuable assets.

    • Understanding required skills helps determine workforce needs.

  • Systems Theory:

    • An organization is a system with interconnected parts.

    • Workforce planning should align with overall goals and other business processes.

  • Job Analysis and Design:

    • Identifying tasks and skills for each job helps understand the exact manpower needed per role.

  • Demand and Supply Forecasting:

    • Predicting future employee needs based on business growth and external factors like labor market trends.

  • Workforce Optimization Theory:

    • Focuses on using the existing workforce effectively.

    • Improves productivity and utilizes employee skills optimally.

  • Strategic Human Resource Management (SHRM):

    • Aligning HR plans with the company's business strategy ensures the right workforce to achieve organizational goals.

  • Labor Market Theory:

    • Considers external factors like competition for talent and economic conditions when planning for workforce needs.

  • Contingency Theory:

    • Recognizes that workforce planning should adapt to changes in the business environment, such as economic shifts or company strategy.

Scope of Workforce Planning

  • Assessing the current workforce

  • Forecasting future needs

  • Talent acquisition and retention

  • Skills development

  • Workforce flexibility

  • Monitoring and improvement

  • Compliance and risk management

Steps in Workforce Planning

  • Stocktaking

  • Forecasting

  • Developing action plans

  • Implementation

  • Assessment

Stocktaking

  • Involves examining internal and external factors impacting operations.

  • External Factors:

    • Economic conditions

    • Employment laws

    • Technological environment

  • Internal Factors:

    • Size and profile of the workforce

    • Skill level

    • Working conditions

    • Performance level

Forecasting

  • Predicting future events by considering past and present events.

  • Needs to predict:

    • Supply of Labor: How many people will be available in the future?

    • Demand for Labor: How many people will be needed?

Developing Action Plans

  • Addresses imbalances between labor demand and supply.

    • Balance (Demand = Supply): No action needed.

    • Labor Shortage: Recruit more employees or retrain current employees.

    • Labor Surplus: Layoff some employees, encourage early retirement, reduce working hours.

Implementation

  • Putting action plans into motion.

    • Labor Shortage: Hire new employees.

    • Labor Surplus: Reduce employees.

    • Continuous monitoring and adjustment are crucial, as plans may require revision during implementation.

Assessment

  • Evaluating whether the action plan helped achieve the organization’s strategic goals.

Analysis of the Supply of Human Resources

  • Evaluating the availability of skilled workers both inside and outside the organization.

    • Ensures workforce needs are met now and in the future.

  • Internal Supply Analysis:

    • Focuses on evaluating the existing workforce and its capacity to meet organizational demands.

  • External Supply Analysis:

    • Assesses the number of available job candidates outside the company.

Recruitment

  • Recruitment: The process of attracting individuals in the right numbers, at the right time, with the necessary qualifications.

    • Aims to encourage them to apply for positions within an organization.

Internal Recruitment Methods

  • Hiring staff members to fill open positions within a company.

    • Promotions: Giving team members more responsibilities, new roles, and higher salaries to keep them engaged.

    • Transfers: Moving employees, often used when organizations expand offices or need employees aligned with their culture.

    • Reorganizations: Restructuring may require employees to change roles to better suit the new organizational structure.

    • Role Changes: Allowing employees to change roles or try something new when they outgrow their current positions.

    • Collaborators Becoming Employees: Hiring individuals who are already familiar with the organization.

External Recruitment Methods

  • Promoting a position to candidates who do not currently work for the company.

    • Recruiters/Recruitment Agencies:

      • Effective sources for finding external talents.

      • Specialize in identifying unique talents.

      • Can save time and assist with important aspects like salary and benefits.

    • Social Media:

      • Using platforms like Facebook, Twitter, and LinkedIn to promote job opportunities.

      • Reaches a broader audience.

    • Job Boards:

      • Online recruiting methods for external recruitment.

      • Reach a wide range of applicants.

      • Can be connected with other hiring technologies to expedite the process.

    • Newspaper/Printed Methods:

      • Traditional job advertising methods useful for local hiring.

      • Essential as not all job seekers have access to internet platforms.

    • Career Events and Job Fairs:

      • Networking and socializing to grow the talent pool.

      • Opportunity for one-on-one interaction with applicants to assess organizational culture fit.

Recruitment Process

  • Employee Requisition: A document outlining job title, department, required start date, and other relevant details for a new hire.

  • Recruitment Sources:

    • Locations where skilled candidates can be found.

      • Internal recruitment sources

      • External recruitment sources

  • Recruitment Methods:

    • Techniques and strategies used to attract potential candidates.

      • Traditional recruitment methods

      • Modern recruitment methods

Selecting the Right Recruitment Method

  • Involves creating a positive work environment where everyone’s opinions are valued.

  • Aims to find applicants with a positive attitude and growth capability.

  • Benefits:

    • Improved employee satisfaction.

    • Reduced turnover rates.

Screening and Selection

  • Screening: Evaluating job applicants by scanning resumes and selecting candidates who match the job description.

    • Determines if a candidate is qualified based on education, experience, and skills.

  • Selection: Assessing candidates’ qualities, expertise, and experience to identify the best person for the role.

    • Involves interviews and various tests to evaluate each candidate.

Steps of a Candidate Screening Process

  • Step 1: Ticking Off the Basic Requirements:

    • Checking if the candidate meets essential qualifications that are non-negotiable.

  • Step 2: Scanning for Preferred Qualifications:

    • Looking beyond the minimum criteria to see if the candidate has additional qualifications or skills.

  • Step 3: Matching the Picture of the Candidate to the Role:

    • Taking a broader view of the candidate's overall profile and fit with the company’s needs and culture.

Difference of Screening and Selection

  • Screening:

    • Purpose: To filter out unqualified candidates.

    • Focus: Basic qualifications (skills, experience, eligibility).

    • Methods: Resume review, application screening, phone or in-person interviews.

    • Outcome: Shortlist of candidates who meet minimum requirements.

  • Selection:

    • Purpose: To choose the best-fit candidate for the role.

    • Focus: Skills, experience, cultural fit, potential, and more.

    • Methods: Interviews, assessments, reference checks, background checks.

    • Outcome: Final selection of one or more candidates for the job.

History of Pre-Employment Screening

  • Rooted in an employer's responsibility to manage risk and ensure safety.

    • Employers could be accused of negligent hiring if an employee shows violent or criminal behavior, resulting in legal repercussions.

  • Negligent Hiring:

    • Originated from a 1908 case.

    • Expanded between 1911 and 1933 to include hiring individuals with violent backgrounds.

    • 1951 case ruled that employers must exercise reasonable care in selecting and retaining employees.

    • Holding employers accountable for negligent hiring became more common by the late 1970s.

Managing Risk with Background Checks

  • Building a culture of trust and goodwill.

  • Creating a safe working environment.

  • Uncovering potential for fraud, theft, or criminal activity.

  • Reducing turnover due to hiring the wrong candidate.

  • Revealing false information found on applications or resumes.

  • Providing proof to insurance underwriters that employees pose no risk.

  • Protecting the employer from liability in the case of violence in the workplace.

Types of Pre-Employment Background Checks

  • Due to the history of negligent hiring, employers conduct thorough background checks during hiring, promotions, and job changes.

  • Common checks include:

    • Identity Verification / Social Security Number Trace

    • Criminal History Data (records pulled from County, State, and Federal courts)

    • Sex Offender Information

    • Education Verification

    • Employment Verification

    • Pre-Employment Drug Test

Selection/Screening Methods

  • Resume Screening:

    • Assesses if candidates meet the job criteria.

    • Rules out candidates who don't meet minimum requirements.

    • Saves time and resources.

  • Background Checks:

    • Ensures shortlisted candidates' credentials are accurate.

  • Skill Tests:

    • Determines if a candidate has the necessary skills.

  • Reference Checks:

    • Provides insights from previous employers, managers, and peers.

  • Personality Tests:

    • Helps find candidates most likely to succeed.

  • Interviews:

    • Structured interviews are most effective, with a panel assessing and scoring candidates.

  • Cognitive Testing:

    • Evaluates a candidate's mental potential and ability to understand business concepts.

  • Screening Calls:

    • Helps get to know candidates better and evaluate their motivation.

Selection Process

  • Identifying Job Requirements

  • Sourcing Candidates

  • Initial Screening

  • Conducting Interviews

  • Skill Assessment

  • Background Checks

  • Making the Offer

  • Onboarding

Making the Hiring Decision

  • Choosing who will be employed based on skills and experience.

  • Goal is to find the best candidate for the job to enhance organizational productivity.

  • Steps:

    • Review applications

    • Interview candidates

    • Conduct assessments

    • Check references

    • Make a final decision

  • Considerations:

    • Candidate's qualifications, experience, and cultural fit.

    • Performance during the interview.

    • Skills and abilities.

    • Feedback from references.

Metrics for Evaluating the Effectiveness of Recruitment/Selection

  • Essential for improving hiring efficiency and ensuring the right employees are chosen.

  • Metrics vary based on company goals.

  • Key focus areas for top companies:

    • Time to hire

    • Quality of hire

    • New-hire retention

    • Hiring managers’ overall satisfaction

Quality of Hire

  • Often seen as the most important factor.

  • Measured by communication, leadership, motivation, and cultural fit.

  • Difficult to assess immediately; abilities are often clear after 2-3 years.

Time Required to Hire

  • Faster hiring indicates a more efficient HR department.

  • Top candidates are usually hired within 1 to 10 days.

  • Balancing speed and quality is important.

New Hire Retention

  • Measures how many new employees stay after one or two years.

  • High turnover increases costs.

  • Low retention rates require a review of the hiring process; a realistic job preview (RJP) may help.

Hiring Manager Satisfaction

  • A manager’s success depends on the quality of their team.

  • Measured through surveys or ratings of new hires after 90 or 120 days.

Turnover Rate

  • The number of times employees have to be replaced during a year.

    • For example, a 100% turnover rate is costly.

  • "False Starts" are new hires who quit within 120 days and are especially expensive.

  • Average turnover rate across industries is 15%, but service industries often have higher rates (around 35%).

Cost Per Hire

  • Calculated by adding up all recruiting expenses and dividing by the number of hires.

  • Challenge is deciding which costs to include; comparing to a benchmark is helpful.

Selection Rate

  • The percentage of applicants hired from a group of candidates.

    • For example, hiring 25 out of 100 candidates is a 25% selection rate.

  • Impacted by the economy and the effectiveness of the hiring process.

Yield Rate

  • The percentage of applicants from a specific source who move on to the next hiring stage.

    • For example, if 25 out of 100 website applicants are interviewed, the yield rate is 25%.

Acceptance Rate

  • The percentage of job offers that are accepted, calculated by dividing the number of accepted offers by the total number of offers made.

  • Low rates require finding out why candidates are turning down jobs, as this increases recruiting costs.

Performance Management

  • A goal-oriented process to ensure organizational processes maximize employee and team productivity.

Theoretical Bases

  • Provide structured approaches for managers to enhance employee efficiency through:
    -Maslow's Hierarchy of Needs, Herzberg’s Motivation-Hygiene Theory, Goal-Setting Theory, Transformational Leadership Theory, and Expectancy Theory.

  • Maslow's Hierarchy of Needs:

    • Employees are motivated by fulfilling basic needs (physiological, safety) before higher-level needs (esteem, self-actualization).

    • Meeting these enhances job satisfaction and performance.

  • Herzberg’s Motivation-Hygiene Theory:

    • Hygiene Factors (salary, work conditions) prevent dissatisfaction.

    • Motivational Factors (recognition, achievement) drive productivity and job satisfaction.

  • Goal-Setting Theory:

    • Employees perform better when given clear, specific, and challenging goals with feedback.

    • Enhances focus, motivation, and achievement.

  • Transformational Leadership Theory:

    • Leaders inspire employees through a shared vision and motivation, fostering commitment and high performance.

  • Expectancy Theory:

    • People are motivated when they believe their effort will lead to good performance and rewards.

    • Three parts:

      • Expectancy (effort leads to performance)

      • Instrumentality (performance leads to rewards)

      • Valence (importance of the reward)

Steps in Performance Management System

  • Planning and Goal Setting

  • Performance Monitoring and Feedback

  • Coaching and Development

  • Performance Improvement Plan

  • Continuous Review and Process Improvement

Purpose of Appraisal

  • Evaluate employee effectiveness

  • Provide feedback

  • Identify development needs

  • Support career growth

  • Motivate employees

  • Set clear expectations

  • Justify HR decisions

  • Improve communication

Criteria and Standards of Performance Appraisal

  • Traits: Personal characteristics like initiative and adaptability (subjective).

  • Behaviors: Observable actions and work practices (communication skills, teamwork).

  • Competencies: Specific skills and knowledge required (technical expertise, customer service).

  • Goal Achievement: Measuring performance against set targets (SMART goals).

  • Improvement Potential: Evaluating an employee's capacity to learn and develop.

Performance Evaluation Tools

  • Used to assess employee performance, provide feedback, identify areas for improvement, and align individual goals with organizational objectives.

  • Performance Appraisal: Regular, formal work performance evaluations.

  • 360-Degree Feedback: Feedback from superiors, colleagues, and clients.

  • Key Performance Indicators (KPIs): Monitoring specific goals and targets tied to an employee’s role.

  • Checklists: Simple tasks where managers check off completed tasks or skills.

  • Rating Scales: Standardized scales (e.g., 1–5) for rating performance in areas like productivity and teamwork.

Employee Training

The Training Framework

  • Identify training needs

  • Set clear objectives

  • Choose appropriate training methods

  • Develop training materials

  • Schedule training sessions

  • Establish evaluation metrics

Benefits of Training

  • Increased productivity

  • Uniformity of work processes

  • Reduced wastage

  • Reduced supervision

  • Promoting from within

  • Improved organizational structure

  • Improved knowledge of policies and goals

Theoretical Bases

  • Self-Directed Learning (Knowles):

    • Individuals take initiative in diagnosing their learning needs, setting goals, identifying resources, and evaluating their progress.

  • Cognitive Learning Theory (Jean Piaget, Jerome Bruner, Lev Vygotsky):

    • Learning actively constructs knowledge by organizing and interpreting information.

    • Emphasizes the role of mental processes in learning.

Orientation and Onboarding Activities

  • Orientation: Introducing new employees to jobs, places, friends, supervisors, and the organization.

  • Onboarding: Integrating new employees into the workplace in an intelligent manner.

The Training Processes

  • Training as an organized intervention to improve workforce knowledge, abilities, and skills.

  • Training Need Analysis (TNA):

    • Collecting data to determine what training employees need to improve effectiveness and help meet business objectives.

  • Training Design:

    • Planning and developing a structured learning experience to equip individuals with the knowledge, skills, and behaviors necessary to achieve specific goals.

    • Must be SMART (Specific, Measurable, Achievable, Relevant, Time-bound).

  • Training Implementation:

    • Putting a training program into action.

    • Approaches:

      • Trainer-based: trainer controls learning contents and experiences

      • Learner-based: trainer acts as a guide and provides resources

  • Training Evaluation:

    • Measuring training success or effectiveness.

    • Provides feedback on trainer performance, allowing for improvements in future programs.

The Training Methodologies

  • On-the-Job Training (OJT)

  • Job Rotation

  • Apprenticeships

  • Internships

  • Classroom Lectures

  • E-Learning

  • Simulations

Management Development

What is Management Development?

  • The process of developing the skills and competencies needed to perform in management positions.

    • Aimed at existing managers or those new to management.

Theoretical Bases

  • Systems Theory:

    • Organizations are complex systems made up of interconnected components.

    • Managers must understand the relationships between different parts and how changes in one area can affect others.

  • Situational Leadership Theory (Hersey & Blanchard):

    • Effective leadership depends on the situation.

    • Managers must adjust their leadership style depending on the followers' maturity and development level.

  • Behavioral Theories:

    • Emphasize how managers actions affect team output and organizational success.

    • Highlight the importance of interpersonal skills, motivation, and communication.

  • Learning Theories:

    • Managers acquire knowledge and abilities over time through self-reflection, learning through experience, and continuous professional growth.

Steps in Establishing a Management Development Program

  • Assess Your Organization’s Needs

  • Set Development Objectives

  • Design a Plan

  • Measure the Results

Management Development Strategies

  • Training and Education: Structured learning programs to enhance management skills.

  • Mentorship and Coaching: Guidance and support from experienced leaders.

  • Job Rotation: Exposure to different roles to broaden managerial experience.

  • Succession Planning: Identifying and nurturing future leaders.

  • Performance Management: Setting goals, providing feedback, and evaluating progress.

  • Peer Learning: Sharing knowledge and experiences among managers

  • Leadership Development: Focused programs to develop leadership qualities.

  • Action Learning: Solving real business problems to apply learning.

  • Continuous Learning: Encouraging self-development through resources and events.

  • Work-Life Balance: Promoting wellness and resilience to prevent burnout

Management Development Plan

  • A structured process that helps managers improve their skills and become more effective leaders.

  • The plan can also help identify future leadership needs.

Compensation Management

  • Compensation management is how a company decides and gives pay, bonuses, and benefits to employees. It helps ensure that workers are paid fairly for their work, stay motivated, and feel valued.

Theoretical Bases - Equity Theory

  • Equity Theory: Employees perceive fairness in their compensation based on their inputs and outcomes relative to others.

Theoretical Bases - Motivation Theories

  • Expectancy Theory: Employees will be motivated to work towards a goal if they believe that their efforts will lead to a desired outcome, such as reward or incentive

  • McClelland's Acquired Needs Theory: Employees are driven by needing achievement, affiliation, and power.

  • Self-Determination Theory: Employees are motivated by feeling autonomous, competent, and connected.

  • Maslow's Hierarchy of Needs: Employees have different levels of needs, ranging from basic physiological needs to self-actualization.

THE PAY MODEL

  • The pay model is a framework for designing and understanding the compensation system for employees. It consists of three main components: the objectives of the pay system, the policies that form the foundation, and the techniques that link the policies to the objectives.

Factors Affecting Pay Design

  • Geographic Differences vary wages or pay in different locations because of labor supply, cost of living, and industry competition

  • Labor Supply refers to the availability of workers in the job market, where low unemployment forces employers to raise wages, while high unemployment causes the lower wages.

  • Collective Bargaining allows labor unions to negotiate the wages and benefits for their members, often resulting in higher pay.

  • Cost of Living influences wages as inflation decreases purchasing power.

  • Competition determines on how HRM set the salaries in response to market competition.

Forms of Pay

  • Direct

    • Base Pay

    • Cost of Living Adjustments

    • Seniority Pay

    • Performance-Based Pay

    • Person-Focused Pay

  • Indirect

    • Legally Required Benefits

    • Healthcare

    • Retirement Plan

    • Insurance

    • Paid Time-off

Internal and External Alignment of Pay Model
Internal Alignment

  • Refers to how compensation is structured within an organization to ensure fairness, equity, and consistency among employees based on roles, responsibilities, and contributions. It focuses on aligning pay practices with the organization's internal hierarchy, job value, and overall strategy.

    • Job Evaluation: Roles are assessed and ranked based on factors like skills, responsibilities, and the impact of the position.

    • Pay Structures: Salary ranges or grades are established for various roles or job categories.

    • Consistency: Ensures that employees with similar roles or responsibilities are compensated fairly and equitably.

    • Alignment with Organizational Goals: Pay structures are designed to support the company's goals and culture.

External Alignment

  • Refers to how an organization's pay levels compare to those of its competitors in the market. It ensures that the compensation offered is competitive enough to attract and retain talent while aligning with the organization's financial capabilities and strategic goals.

    • Market Benchmarking: Collecting and analyzing industry pay data to compare with competitors.

    • Pay Philosophy: Deciding whether to lead, match, or lag the market in compensation strategy.

    • Job Pricing: Assigning value to jobs based on responsibilities, skills, and demand.

    • Geographic Differentiation: Adjusting pay to account for cost-of-living differences across locations.

    • Monitoring Trends: Regularly reviewing market and economic changes to stay competitive.

    • Total Rewards Approach: Offering a comprehensive package, including salary, benefits, and perks.

Compensation Structure

  • Direct Compensation

    • Merit Pay

    • Base Pay

      • Wage

      • Salary

      • Incentive Pay

      • Bonus, Commission, or Profit Sharing

  • Indirect Compensation

    • Deferred Pay

      • Savings Plan, Stock purchase, Annuity

    • Protection Programs

      • Medical Insurance, Life Insurance, Disability Income, pension

    • Service and Perquisites
      *Recreational Facilities, Car, Financial planning, low-cost or free meals

Job Evaluation Methods
Non-Analytical

  • Ranking Method

  • Job Grading Method

Analytical

  • Factor Comparison Method

  • Point Ranking Method

Developing a Compensation Structure

  • Person-Based Approach

    • Compensates employees based on their skills, knowledge, and competencies rather than just their job roles. Like job-based pay structures, it requires job analysis and descriptions.

Types of Person-Focused Pay

  • Pay-for-knowledge compensates employees for applying knowledge area.

  • Skill-based pay rewards employees for developing and demonstrating particular skills.
    *Competency-based pay compensates based on behavior that contributes to organizational success.

Current Trends in Compensation Management

  • Pay Transparency refers to organizations openly sharing salary ranges, pay structures, and even individual salaries in all cases

  • Pay Equity ensures that employees receive equal pay for equal work regardless of gender, race, or other demographic factors.

  • Compensation For Remote Work has been shifted to remote and hybrid work that has led to new compensation strategies.

Employee Benefits

Employee benefits refer to the compensation or rewards that an organization provides to its employees in addition to their regular salary or wages.

Theoretical Bases

  • Efficiency Wage Theory states that employees are more productive when they receive higher wages and benefits.

  • Social Exchange Theory proposes that employees form relationships with their employers based on the exchange of benefits and rewards.

  • Total Rewards Theory suggests that employees are motivated by financial and non-financial rewards.

Legally Required Benefits in the Philippines

There consists of the following Mandatory Contributions:

  • Social Security System (SSS) Benefits:

    • It is a government-run program in the Philippines that provides financial assistance and social benefits to its members.

    • SSS has expanded its benefits to include retirement, maternity, disability, sickness, funeral, and short and long-term salary loan, stock investment, and housing loan benefits.

  • Philippine Health Insurance Corporation (PhilHealth) Benefits:

    • Is a government corporation attached to the Department of Health.

    • To supervise the provisions of health benefits and set standards, rules, and regulations necessary to ensure quality of care, appropriate utilization of services, fund viability, member satisfaction, and overall accomplishment of Program objectives.

  • Pag-IBIG (Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno) Fund:

    • The Home Development Mutual Fund (HDMF), commonly known as the Pag-IBIG Fund, was established by the Philippine government on June 11, 1978.

Other Benefits Include

13th Month Pay, Service Incentive Leave, Parental Leave, Vacation Leave, Sick Leave, Bereavement Leave, Holiday Pay, and Overtime Pay.

Conditions for Holiday and Special Non-Working Days

DID NOT WORK, 100% of basic wage = REGULAR HOLIDAYS, 200% = WORKED ON REST DAY

Overtime Pay

  • Extra pay of 25% of a covered employee's hourly rate for work performed during overtime.

Employee Benefits as a Talent Management Strategy

  • Talent management is how companies find, develop, and keep the best employees to help the business succeed. Includes hiring, training, helping them grow in their careers and keeping them motivated.

How Can Employee Benefits Support The Strategy

  • Attracting Talent

  • Retaining Employees

  • Employee Engagement and Productivity

Why Are Employee Benefits a Key Talent Management Strategy?

*Reduces Employee Turnover, Boosts Employee Productivity, Improves Employer Branding and Enhances Employee Well-Being.
*Employee Benefits has a Additional Perks that boost employee motivation, increase retention and enhance job Satisfaction.

Types of Employee Benefits as Rewards

Monetary Benefits, Health & Wellness Benefits, Work-Life Balance Benefits, Career Development Benefits and Recognition-Based Benefits enhance the employer.

Portfolio of Employee Benefits Package Designs Based on an Employee's Values with a Strong Employee Strategy

*Discovering What Employees Need
*Deciding on the Organization's Goals
*Designing the Employee Benefits Program
*Communicating Benefits To Employees and Keeping Soliciting Feedback

Trends in Employee Benefits Program

Includes the following characteristics:

*Flexibile Work, Mental Health and Well Programmes, and Personalized Benefits.

Retirement Benefits, Medical Care Benefits, Unemployment Benefits, Work-Injury Disability and Maternity Paternity all contribute to Employee Benefits.
Holiday Pay and Overtime Pay

*The Most Popular is Preparing for Retirement Planning Financial Stability and emotional stability and healthcare Stability.

Pre-Retirement Planning

Consists of Financial Planning, Planning, Lifestyle & Emotional Readiness And Estate Planning for Legal needs.