Human Resource

Definition: Dispute Resolution refers to a process through which two parties can come together and build a consensus to end the conflict. Another term for the same is Conflict Resolution. But it is a broader term that covers severe matters. Dispute Resolution covers all the methods of managing disputes. Also, this process requires plenty of time and energy. Another … [Read more...] about Dispute Resolution

Definition: The Human Resource Planning Process critically analyses, forecasts, and allocates human resources as per business goals. It assists organizations in estimating their existing as well as future manpower requirements. This process is carried out in all organizations, big or small. We can also refer to it as Manpower Requirement Process. It serves as a bridge … [Read more...] about Human Resource Planning Process

Definition: Employee Separation is the discontinuation of his employment contract with the company. The termination of employees services can be either Voluntary or Involuntary. This can take the form of Retirement, Resignation, Discharge, Layoff, etc. The companies and employees must specify valid reasons behind their separation. The process may be upsetting for both, … [Read more...] about Employee Separation

Definition: Rightsizing is a strategic business tool that escalates the resources to reduce costs and remain competitive. It is a type of involuntary separation that filters the workforce in an optimum way. It is especially performed at the top level of management. Optimization gives rise to a skilled, abled and knowledgeable workforce. Thus, organizations can achieve new … [Read more...] about Rightsizing

Definition: Compensation management deals with every type of reward and its allocation in the most desirable way. It is an essential tool for managers in Human Resource Management. This is because it helps achieve equity, transparency and consistency across the organization. Compensation is the reward an employee receives for their valuable efforts while performing various … [Read more...] about Compensation Management

Definition: Induction training implies providing training to the newly recruited employees in the organization so that they will act as a productive asset for them. These training programmes are conducted by the companies according to the complexity level of the work allotted to the employees and the size of the business. The time period of such training programmes also … [Read more...] about Induction Training

Definition: Collective Bargaining is a process used to resolve the conflicts amidst management and the employees relating to essential terms and conditions of the employment. It concludes with an agreement amongst the management's representatives and the employees' bargaining agents stating the issues regarding compensation and service conditions. Both representatives may … [Read more...] about Collective Bargaining

Definition: Employees Welfare is a term which includes the perks and benefits provided to the employees of the organization apart from their regular salary or remuneration, the main motive of serving employee benefits services is to improve or enhance the employee’s well-being. Employee welfare measures are the efforts made by the employer to bring the desired results by … [Read more...] about Employee Welfare

Definition: Arbitration is a procedure of making a decision by an outsider for a dispute settlement between two parties. In this process, the arbitrator makes an impartial decision that will become mandatory for both parties to follow. Here, the arbitrator is an individual appointed to resolve the disputes and differences of two parties. The arbitrator makes his decision on the … [Read more...] about Arbitration