Human Resource policies and not Technology as a measure for successful Knowledge Management
Knowledge as an asset is gaining more and more recognition as we progress towards a more competitive and open market. Firms want to capture the knowledge that the workers have, to save costs, propel growth and fertilize cross learning. Mckinsey Consultants Susanne Hauschild, Thomas Licht, and Wolfram Stein, (Mckinsey Quarterly, Number1 2001), compared fifteen financially successful firms against fifteen less successful companies. They found that the more successful companies build a corporate environment that ensures continual application, distribution, and creation of knowledge. Most of the successful companies had incentives to reward the knowledge workers. Distribution was achieved through strategic staffing and job-rotation so as to capture the tacit knowledge within a firm. In the article entitled “Is knowledge Management the future of HR”, the author describes how the loss of talented personnel can lead to considerable knowledge erosion. The author is also of the opinion that interview processes should be modified to identify more accurately the prospective employee who can help maximize collaboration. Therefore the article concludes the need for a comprehensive interviewing and retention strategy. Margaret Barchan quotes, the example of a Swedish company (Celemi), measuring the knowledge within a firm indirectly by assessing performances across several dimensions. The growth is measured in percentage terms to arrive at a net percentage change, which is taken to stand for the change in the knowledge held within the firm. The literature survey indicates that there has been a move towards identifying HR policies as the key drivers of the KM-initiative; however there has been little effort towards establishing a concrete measure for the success of the KM-initiative by using HR-policies as a basis.
The paper hypothesizes that firms with a good HR-policy are likely to succeed to a greater extent than firms without one, even though they are both technologically sound.
Methodology for collecting data
For the purpose of this research a questionnaire was designed, addressing various aspects of the HR subsystem. The questionnaire was sent via E-mail, to one employee and one manager in each firm. Eventually, five firms returned completed questionnaires TISCO, Redington, IBM, SUN Microsystems – USA. Two responses one from the employee and the other from the manager was thought to be important because the manager’s perspective might have a factor of bias towards the company policies and might be at variance with the actual practices.
Description of parameters
A firm can be classified as going through the
• Evolution phase
• Transforming phase, or having reached the
• Realization stage
Of its knowledge management practice based on the HR practices that it follows. For the purpose of this paper the practices considered are (in order of priority)
1 Interaction Factors
This section was designed to find out how often the firm attempts to get the employees together. This was considered the most important because bringing employees together can circulate the tacit knowledge within the firm. The process does not lead to a formal documentation, however it is widely opined that circulation of knowledge can enhance the level of contribution.
2 Selection process and orientation
This subsystem was focused upon to find out, what aspect of the candidate receives maximum weight-age during selection, and the orientation that each employee gets to the KM- practice. Orientation can introduce the employee to the knowledge culture and encourage him to contribute further.
This section aimed at finding out whether cross-functional training was provided to the employees. This was done to assess whether the firm wanted to...
...Employeeretention is very important to organizations. If employees can not be retained, the company will have to invest money for training new employees time and time again. The cost of replacing an employee is high not only financially, but in terms of lost productivity, the time taken by the employer to go through the resumes and the cost incurred to conduct interviews. The best away to avoid this costly affair is to focus on theretention of employees as otherwise it will have a castigating effect on the organization as a whole. By taking a look at the past it is possible to avoid the mistake of losing your central operating powers in the future. When an employee leaves the organization, the employer must make it a point to conduct exit interviews to know the reason for him to quit the organization.(pg 161 Dessler) The employer's real skill lies in identifying the real motive of the employee to quit the organization, because most of the employees reveal the false reasons. At the same time he/she must also equally concentrate on the rest of the employees who have not yet left and indulge in casual conversation to keep their morale high.
Turnover can be a positive process when an employer manages to bring new recruits, along with their new ideas and vigor into the organization. Yet, unmanaged employee turnover can easily steal your company's knowledge base, profits and...
...In todays scenario retaining the employees in the organization is becoming achallengeable job. Hiring knowledgeable people for the job is essential for an employer. But retention is even more important than hiring. The employees are valuable assets to the organization so it is the responsibility for the organization to develop the strategies in order to retain the employees. Employee attrition may be due to various factors such as lack of growth opportunities, dissatisfaction with the working environment, lower payees... As soon as they feel dissatisfied with the current employer or the job, theyswitch over to the next job, It is the responsibility of the organization to retain their
Employees today want more out of a job than a big salary. Workers' expectations have shifted over the past few decades. Employers need to recognize five key changes in workers' expectations, namely that they want to lead balanced lives, enjoy partnership with their employers, receive opportunities for personal and professional growth, be able to make a meaningful contribution to the world through their work, and experience opportunities to socialize at work. Healthcare organizations that want to attract and retain the employees that they need can achieve competitive advantage in the marketplace by responding to these new work values
. Outsourcing EmployeeRetention Program 
Turnover costs can have significant negative impact on a...
A PROJECT REPORT ON
S & P CAPITAL IQ INFORMATION SYSTEMS
A REPORT SUBMITTED IN PARTIAL FULFILLMENT OF REQUIREMENT FOR THE AWARD OF THE DEGREE OF
MASTER OF BUSINESS ADMINISTRATION
RISHI UBR PG COLLEGE FOR WOMEN
(AFFILIATED TO OSMANIA UNIVERSITY)
I A.VIDHYADHARI hereby declare that dissertation entitled “A STUDY ON EMPLOYEERETENTION PRACTICES” at “S & P CAPITAL IQ”, Hyderabad, is a genuine work done by me, submitted in partial fulfillment for the award of the degree of “MASTER OF BUISINESS ADMINISTRATION”. This project work has not been copied or lent and it is not submitted to any other university or institution for the award of any other degree.
Retention is very important aspect of the HR policies. In today’s competitive environment retaining of employees has become a very challenging work for the HR department of any company.
The study focused on S & P Capital IQ emphasizes employee-welfare practices in order to...
...dental insurance, disability, life insurance, retirement benefits, family leave, education and training programs, bonuses, commissions, and stock options.
Employee compensation was first introduced to America by Europe and imbedded in the colonies. “The Plymouth Colony settlers’ military retirement program, which was established in 1636, was of the first compensation programs recorded.” (EBRI, 2008) Employee benefits are now offered from many companies to attract, retrain, improve morale and promote employee productivity. Many companies feel that employee compensation is the dominant factor in employee satisfaction.
Several theories have been proposed on employee compensations and benefits and what motivates them. Abraham Maslow is known for establishing the theory of a hierarchy of needs, writing that human beings are motivated by unsatisfied needs, and that certain lower needs need to be satisfied before higher needs can be satisfied. Compensation and benefits satisfy the two most basic needs of Maslow's Hierarchy (physiological and safety). Emotional needs satisfy the three upper needs of Maslow's Hierarchy (love, esteem, and self-actualization). (Dr. Boeree, 2006).
Fredrick Herzberg developed another popular theory of motivation called the two-factor theory. The theory suggests there are two factors that contribute to employee dissatisfaction and satisfaction. The...
...Effectiveness of Reward Programs on EmployeeRetention
Organizations are intent on keeping the right people in the right position. When quality employees are obtained, it is important to retain them long term without loss to another agency, especially a competitor. Even in today’s environment of high unemployment and sluggish economy, attracting and retaining talented employees is a top human resource concern. The cost of employee turnover is significant in the business world. Unless an employee is a low performer, the exit of a worker is a cause of concern. It is expensive to recruit and train new hires while efficiency is also being lost during the orientation period. It takes time and attention away from productivity to train new employees. New employees are also more likely to make mistakes and work more slowly. Workplace focus on retention can help reduce these high turnover costs.
Boushey & Glynn (2012) found in a study from 1992-2007 that businesses spend one-fifth of an employee’s annual salary to replace that worker consistent across different pay levels. The typical cost of turnover was 21 percent of a worker’s annual salary. Jobs with specific skill sets, such as physicians or executives, and jobs that require higher levels of training and education for specialization have even higher turnover costs. Jobs with low wages and minimal benefits, such as the hospitality, hotel/motel and...
...RECOMMENDED PERSONNEL RECORDS RETENTION REQUIREMENTS: FEDERAL
TITLE VII (1964 CIVIL RIGHTS ACT, AS AMENDED IN 1991)
Records To Be Retained:
a. Any personnel or employment records made or kept by the employer, including application forms and records pertaining to hiring, promotion, demotion, transfer, layoff or termination, rates of pay or other terms of compensation, and selection for training or apprenticeship
b. Personnel records relevant to a charge of discrimination or action brought by the Attorney General against the employer, including, for example, records relating to the charging party and to all other employees holding similar positions, application forms, or test papers completed by unsuccessful applicants and by all other candidates for the same position
c. For apprenticeship programs: (1) chronological list of names and addresses of all applicants, dates of application, sex, and minority group identification, or file of written applications containing the same information; and other records pertaining to apprentice-ship applicants (for example, test papers, interview records); (2) any other record made solely for completing EEO-2 or similar reports.
d. For employers with 100 or more employees: Copy of EEO-1, Employer Information Report.
a. One year from the date the record was made or personnel action was taken, whichever is later.
b. Until final disposition of the charge or action.
c. (1) Two...
...Discussion Paper No. 109
CUSTOMER SATISFACTION: A STUDY OF BANK CUSTOMER RETENTION IN NEW ZEALAND
David Cohen1 Christopher Gan2 Hua Hwa Au Yong3 and Esther Choong4
Commerce Division, PO Box 84, Lincoln University, Canterbury, New Zealand, Tel: 64-3-3252811, Fax: 64-3-325-3847, [email protected] Corresponding Author, Commerce Division, PO Box 84, Lincoln University, Canterbury, New Zealand, Tel: 64-3-325-2811, Fax: 64-3-325-3847,[email protected] Department of Accounting and Finance, Faculty of Business and Economics, Monash University, Victoria 3800, Australia, Tel: 61-3-9905-5178, Fax: 61-3-9905-5475, Email: [email protected] Standard and Chartered Bank, Kuala Lumpur, Malaysia, Email: [email protected]
Commerce Division Discussion Paper No. 109
CUSTOMER SATISFACTION: A STUDY OF BANK CUSTOMER RETENTION IN NEW ZEALAND
David Cohen Christopher Gan Hua Hwa Au Yong and Esther Choong
Commerce Division PO Box 84 Lincoln University CANTERBURY Telephone No: (64) (3) 325 2811 extn 8155 Fax No: (64) (3) 325 3847 E-mail: [email protected] ISSN 1174-5045 ISBN 1-877176-86-9
Customer retention is an important element of banking strategy in today’s increasingly competitive environment. Bank management must identify and improve upon factors that can limit customer defection. These include employee performance and...
...A STUDY ON EXTENT OF EMPLOYEE ENGAGEMENT
(A STUDY CONDUCTED FOR WNS)
PROJECT REPORT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS TWO YEAR POST GRADUATE DIPLOMA IN BUSINESS ADMINISTRATION
Under the Guidance of
Mount Carmel Institute of Management Banglore 560 052
Certified that this dissertation is based on an original project study conducted by Ms. Preeti Agarwal under my guidance. She has attended all the required guidance sessions held. This project report has not formed a basis for the award of any other Degree/Diploma of any university or institution.
Prof Manika Girinath
Rev. Sr Albina
I am extremely grateful to Sr. Albina Director, Mount Carmen Institute of Management Bangalore, and coordinator Mr. Michael Noronha for giving the encouragement and opportunity to conduct this project work. I will express my deep sense of gratitude to Professor, Mrs. Manika Girinath, for her able guidance and valuable suggestions.
I express my sincere gratitude to Ms. Brinda Gopal (Assistant Manager) HR in WNS Bangalore, for her valuable guidance and consistent support of all types through out the project work.
I am thankful to a number of respondents in the field for sharing their insight and experience with me.
Lastly I take this opportunity to thank my parents, friends and all others who have helped me in some way or the other in...