CORPORATE VALUE FOR EMPLOYEE ????

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Employees? The Role of Human Resource Management in Organizations

It takes more than just paying competitive wages for an employer to show that it values its employees. The most effective strategy for companies to value workers is a blend of tangible and intangible rewards and recognition. While good wages and salaries are nice to have, employees often feel appreciated when their employers do more than just pay the highest wages in the industry. These strategies can be especially important for a small business, which may not be able to pay high wages.

IIT JEE Video Lectures330 hours Delivered by Top IITians Watch Free Demo Videos Now!FlexibilityBalancing work and family is more important than salary for many workers. Employers value their employees by acknowledging that their employees have priorities outside the workplace. Thus, giving employees greater flexibility is one way for companies to show they value employees’ time and commitment. Workplace flexibility includes providing telecommuting options, compressed work weeks or flexible scheduling, job-sharing and generous parental leave policies.

RecognitionEmployee recognition is the purest form of motivation, according to psychologist and management consultant, Frederick Herzberg. Motivated employees generally are engaged employees who find their work fulfilling and satisfying. Employee satisfaction stems from working for an organization that values employees’ talents, expertise and qualifications. Employee recognition is intangible; employee rewards are tangible benefits. Recognition includes elevating an employee to a higher position – though not necessarily raising the salary – or, asking an employee to participate on a prestigious committee or delegating a coveted assignment to an employee who demonstrates high aptitude and performance.

Related Reading: How to Calculate a Transaction Value if a Company Purchases a PercentageInteractionCompanies that sponsor employee-focused events such as social outings, employee-of-the-year banquets or all-expense-paid attendance for employees and their families at conferences value their employees’ need for recreation and camaraderie. Although company events can be costly, the return on investment can be great. Companies that demonstrate their appreciate find that their employees enjoy the down-time away from work either with their families or in a more relaxed setting conducive to forging friendships and connections with their colleagues.

BenefitsA healthy employee is a happy employee, and nothing improves health and wellness better than a comprehensive benefits package. Providing the best possible benefits is guaranteed to show how much an employer values its workers. It’s even better if the employer picks up the tab for the monthly premiums. Ensuring the overall health and well-being of employees involves providing insurance for medical coverage and providing EAP services.

FeedbackA supervisor who says, “Mary, you did a great job as team leader on the department’s latest project,” is demonstrating perhaps the most sincere form of appreciation that doesn’t cost the employer a dime. Sometimes, all employees want is a pat on the back or an occasional compliment on their job performance. Companies that train their supervisors and managers on how to provide continuous feedback to employees may have fewer complaints and better workplace relationships, in addition to a workforce that feels the company values their work.

OR

Recently, we’ve talked about vision and mission statements, so it only seems fitting that we finish this strategy trifecta with a post about organizational values.  IMHO, values are the most important of the three.Values are the qualities that transform a company’s mission and vision into reality.  In essence, values outline corporate culture and play an important role in our everyday activities as managers.Recruiting   - Values should be the qualities we look for during job interviews.  People who demonstrate our organizational values, should be the ones we hire.  For example, if having a customer focus is one of your company values, then asking questions aboutdelivering customer service would be key.Training   – Every company should include their organizational values in orientation.  In fact, they should be reinforced during every company training program.  Think about the impact of being able to link company values to leadership.Performance   - Performance appraisal systems should include the company’s organizational values.  We should reward performance that supports organizational values.It seems so simple.  Your organizational values help you achieve your success.  Therefore, you hire for them, train to improve them and recognize/reward based upon them.

But in reality, we see plenty of cases where the values a business says are important aren’t the ones that get emphasized or acknowledged.  I wonder if that’s

because  organizations are conflicted about which values to select.For example, I know of companies that thrive on an entrepreneurial culture.  They are competitive, profit/results driven and have a tremendous sense of urgency.  But their values don’t reflect any of these attributes.  Why?  Because those words mayhave some negative connotations.Organizational values are unique to each company.  They shouldn’t just be politically correct marketing terms.  Let me repeat that – values shouldn’t just be politically correct marketing terms.  Values should represent the culture of the business.  It’s okay to be competitive and profit driven.  In some industries, it’s a necessity.As you’re starting to plan for next year, think about your organizational values and whether they’re representative of your organization.  If they are, that’s great.  If they’re not, could it be time for a change?