Reading Time: 3 minutes

In competition consequences, today, Organisational Objectives are the benchmark for all major decisions. They guide efforts towards a common purpose. And provide key clarity on expectations among leaders, managers, and staff. In other words, an understanding of Organisational objectives is important for every human resource management team.

What Are Organisational Objectives?

Organisational objectives are specified and measurable aspirations. The organisation wants to achieve or reach. They address:

• Financial goals

• Market share

• Customer satisfaction

• Employee development

Why Organisational Objectives Matter

Without Organisational objectives, a company is left drifting in the wind. Organisations develop objectives in order to:

• Provide strategic clarity

• Enhance the performance management process 

• Increase employee engagement 

• Promote employee talent and retention

In addition, It’s is useful for measuring progress. So if there are real or perceived changes in the marketplace. Organisations can be flexible in changing.

Different Types of Organisational Objectives

There are many different kinds of organisational objectives, such as the following:

Economic objectives

• Maximise profit

• Increase revenue

• Minimise costs

Social Objectives

• Develop corporate social responsibility

• Build strong relationships in the community

• Protect the welfare of employees

Strategic Objectives

• Enter new markets

• Innovate products

• Augment brand reputation

Also, HR-specific objectives include:

• Labour force planning

• Training and development

• Improving employee satisfaction by investigating the

• Intentions of staff engagement.

Establishing Organisational Objectives Successfully

First, the leaders do a SWOT Analysis, and then they get input from key stakeholders. The leaders define SMART objectives:

Specific

Measurable

Achievable

Relevant

Time-bound

Second, HR teams reinforce the above by aligning systems related to recruitment. Compensation management and performance appraisal. This way, everybody is trying to reach the same goals.

Aligning HR Functions with the Organisation’s Objectives

Once there are objectives to achieve, HR has a key role. 

• Recruitment: Recruit “fit” for the business mission

• Training & Development: Build skills toward objectives

• Performance Management: Reward behaviours that provide support toward objectives

• Employee Engagement: Ensure commitment toward objectives

• Compensation & Benefits: Use various incentives to direct performance

In turn, HR becomes a strategic partner rather than an enterprise unit.

Tracking and Measuring Organisational Objectives

Once objectives are determined, the tracking of progress becomes important. HR and management use the following:

• Performance Indicators (KPIs)
• Balanced Scorecards 
• Regular Reviews 
• Data Analytics tools. 

If retention is an objective of the organisation. Continually monitoring objectives allows for timely action. If there are disparities in meeting goals. 

The Challenges of Achieving Organisational Objectives

It’s worth noting that achieving objectives and targets is not without its challenges. Some common barriers are:

• Resistance to change- Some employees resist engagement towards new objectives and targets. 

However, there are often practical solutions if organisations face challenges. The following solutions for overcoming barriers can be applied:

• Ensure communication is clear and done frequently.

• Provide training and support for new initiatives

• Make sure you have the proper resources and allocate them appropriately.

• Encourage employees through change management evidence approaches for employee engagement in content knowledge. 

Embedding Organisational Objectives into Culture 

When objectives become a part of the culture, they stick. Consequently: 

• Embed objectives in the onboarding process 

• Embed objectives into your annual training plan 

• Encourage managers to discuss objectives with team members in one-on-ones 

• Recognise teams who demonstrate objective-driven behaviour  

Instead of statements written on a page.

Conclusion 

In closing, developing and implementing Organisational Objectives are essential for any successful business. When your HR teams align recruiting, performance management, training, and reward strategies. To achieve the organisational objectives, the entire organisation can eventually execute. Against a set of focused objectives. Measurable objectives help normalise strong communication. Ongoing reviews of staff priorities, buy-in by existing leadership. And ultimately, a strong commitment by all employees to the objectives. Is part of their corporate culture. 

FAQs

Q1. What are Organisational Objectives?

They are accepted, measurable purposes created by a business. These are designed to assist in decision-making. Unite teams and demonstrate achievement.

Q2. How do objectives relate to HR functions?

Objectives generally inform the strategy for recruitment and selection. Training and development, performance management, and compensation. As both aim to support objectives.

Q3. What is a SMART objective?

SMART is an acronym for 

• Specific
• Measurable
• Achievable
• Relevant
• Time-bounded

Q4. I have a business. How often should I review its objectives?

It is preferable that objectives are reviewed quarterly or at a minimum, at least twice per year. As the business environment may change.

Q5. How do Organisational Objectives contribute to improved employee engagement?

Improve communications around expectations and enable alignment. That improves employee engagement and motivation.

 

Reading Time: 3 minutes

Simply put, this Act governs how bonuses must be paid by employers to ensure they are fair. It also allows HR teams to verify that companies are compliant. And consequently avoid legal costs in the payment of the bonus act.

What is the Payment Of Bonus Act? 

Established in 1965. And it requires all eligible employees to receive a bonus once per year. It applies to an establishment that meets a certain payroll limit. 

Why is the Payment of Bonus Act important? 

The Payment of Bonus Act can serve a number of purposes for HR teams:

Legal Compliance: Ensure that the company is following all labour law requirements. 

Employee Motivation: It will boost morale with bonuses guaranteed in the right situations.

Retention: You will help employees stay with the company longer. 

Fairness: You will reduce bias in bonuses. 

Companies that comply benefit from a motivated workforce and have less turnover.

Key Definitions under the Act

Before we go further into this topic, it is important for HR teams to understand these terms:

• Employer: Any entity that satisfies the payroll condition. 
• Employee: Any person who has wages less than the set limit. 
• Salary/Wage: Basic pay plus dearness allowance. 
• Gross Profits: Profits before any deductions. 

Furthermore, knowing these definitions also assists HR teams in calculating bonuses correctly. 

Eligibility 

1. Length of Service
2. Wage Limit
3. Employment Type
    

Bonus Amount Calculation Formula

Available Surplus

8.33% of the company’s gross profits. 

Employee’s Salary:  The employee’s proportional share of the bonus pool. 

The basic calculation is:

Bonus = (Salary × 8.33%) ÷ 12 

However, the amount will be adjusted based on profits made by the organization.

HR and Payroll’s Responsibilities

The departments of HR and payroll work closely. The essential functions include:

1. Data collection: We must collect records of employees’ length of service & salary history.

1. Profit assessment: We liaise with finance to find out if there is a surplus available.

1. Calculating bonuses: We calculate bonuses using the formula outlined. In the Payment of Bonus Act.

1. Recordkeeping: We must maintain complete records for audit and compliance purposes.

1. Payment: We must disburse the money to employees in a timely fashion. Through payroll or bank transfer.

HR usually needs to educate employees on company bonuses. 

Challenges and Solutions

1. Profit Fluctuations 

Profits of the company can fluctuate. Leading to uncertainty for HR on whether bonuses to be funded for employees.

2. Data Variance

Errors in records, such as salary or attendance. It can negatively affect calculations.

Solution: Have HR systems in place to enable payments to reflect correctly.

3. Employee Disputes

Employees sometimes wonder if, and to what extent, they are entitled to a bonus.

Solution: Post an easy-to-access grievance redressal process.

If organisations think ahead and provide adequate solutions to the issues mentioned above. They will avoid significant disruption in their bonus calculation and discharge processes.

Effect on Employee Relations in payment of bonus act

Receive the following benefits:

Increased Trust: Employees believe their value is shown to them in a respectful and fair manner.

Engagement: Employees are motivated in their workplace. 

As a result, a well-conducted bonus program will enhance overall employee relations. And have an impact on employee engagement/output/productivity.

Record Keeping Requirements in payment of bonus act

The Payment of Bonus Act requires the employer to keep certain records:

1. Attendance Registers: Registered evidence of a minimum period of 30 days’ service.

1. Salary Ledgers: Details of the basic rate of pay and dearness allowances.

Good record keeping both prevents non-compliance. It also makes audits and inspections fewer headaches.

 

Recent Amendments and Updates

The Payment of Bonus Act is at times revised by governments – HR should keep the following on their radar:

• Revision of Wage Ceiling – Regularly see amendments to the limit established. Each month, for eligibility.
• Change of Threshold – A revision of the profit ceiling for exemptions.

As a result, I recommend regularly subscribing to official notices. To review all amendments and to seek a lawyer’s opinion!

Conclusion

Ultimately, it is a valuable tool for improving employee engagement. Increasing organisational commitment and maintaining a positive work culture. Moving forward, as companies evolve, HR practitioners will need to be aware. Of ongoing compliance and changes to legislation. In addition to best practices. As well as lead to career satisfaction and continued business success in the long run.

FAQs

Q1. State under the Payment of Bonus Act. What is the minimum bonus percentage? 

8.33%. It is the minimum bonus payable.

Q2. Who can claim the payment of a bonus under the Payment of Bonus Act? 

Employees who are employed for any part of the financial year but thirty days, and below the wage ceiling applicable for the month of payment.

Q3. How do you calculate the bonus? 

Bonus = (Employee Salary × 8.33%) ÷ 12 

And then discounted to the profitability of the Company.

Q4. When is the bonus payable?

Generally, on or before November 30th, as long as employees entitled to a bonus have worked for at least thirty days.

Q5. What records do I keep for compliance?

Employees’ attendance records, salary records, and my bonus calculation papers. Profit and loss statements for the financial Corporation/companies.

Reading Time: 3 minutes

In today’s quickly changing world of business, it’s not enough to get any kind of hire. Companies want more now; they want people with talent that stand out from their peers — special talent acquisition changes the game. With niche talent, the need for employers is greater than ever, making the need for specialized talent acquisition. 

So, what is special talent acquisition? Let’s unpack it in more detail. 

What Exactly is Special Talent Acquisition?

To start, special talent acquisition is really how we understand the process of methodically identifying, attracting, and hiring people with scarce or advanced skillsets. These are talents that might not be easily identifiable or often have many competitive factors when it comes to hiring in the competitive landscape. This process is different because it typically focuses on specific positions that require special skills. Here are some examples of what engages in special talent acquisition:

• AI engineers
• Blockchain developers
• Cybersecurity experts
• Bioinformatics specialists

Finding talent like this can be hard and, therefore, requires a special approach. 

Why Special Talent Acquisition is Important

• It brings innovation and special knowledge to the organisation.
• It can solve complex business issues that generalist talent cannot.
• It creates a market and competitive advantage.

Furthermore, if done properly, this will aid organisational development and contribute to long-term growth.

Key Strategies for Special Talent Acquisition

To streamline the process, HR teams will need to put in place a series of targeted strategies. A few examples include:

• Continuous Talent Mapping

Instead of waiting for a role to activate the search, companies should be actively building pipelines of niche candidates.

• Strengthening Your Employer Brand

If you want to attract top talent, you cannot undervalue the importance of an employer brand. Showcasing the best culture and vision for your company attracts the best professionals.

• Personalised Outreach

Generic messages seldom work, and documented chain tactics. Personalised communication allows pre-existence, trust, and interest.

• Targeted Job Boards

Not all standard job boards will yield results for specific markets and skills. Specific forums and communities result in better outcomes.

How HR Technology is Changing Special Talent Acquisition

In the age of HR software systems, sourcing specific niche candidates is now less complicated than it once was! Various platforms now offer:

• Automated resume screening
• Candidate relationship management (CRM)
• Talent scoring (AI-powered)
• Sourcing through social media

The Effectiveness of Data Analysis in Special Talent Acquisition

A key addition to this is data analysis- recruiters can:

• Review the sourcing channel’s usefulness
• Surmise the likelihood of the candidate’s success
• Refine job descriptions
• Compare salary expectations

In short, HR departments can augment decision-making and mitigate poor hires significantly with data. 

Internal Talent Mobility – A means for Special Talent

Interestingly, the candidate you want may be hidden in your organisation..

Perks of Internal Mobility: 

• Less recruiting spend
• Higher employee retention
• Improved employee morale/engagement
• Alignment of succession planning 

With a commitment to training and development. An organisation can grow its people by teaching them specific skills.

 

Barrier of Intake 

Unfortunately, hiring special talent is also challenging; 

• Less accessible talent pool
• Higher pay expectations
• Longer hiring timelines
• Employer brand matters

In conclusion, the best means of overcoming these will be à complete blend of traditional and non-traditional means.

HR Teams’ Best Practices

HR teams should:

• Partner with hiring managers early
• Create talent communities

Conclusion

In conclusion, the working world is changing at a rapid pace, while only companies that can attract special talent will survive in increasingly competitive markets. After investing in new technologies, internal promotion processes, and informative analytics, the special talent acquisition process will absolutely be faster and more effective than ever before. By fully adopting this type of deliberate and informed strategic hiring, any organization can future proof itself.

FAQs

Q1. What does `special talent acquisition’ mean? 

It refers to the recruitment of specialized professionals who are not easily available in the wider job market.

Q2. How does special talent acquisition differ from normal recruitment? 

Special talent acquisition is more focused and strategic, but special talent acquisition may involve sources from more specialized networks and platforms.

Q3. Why is internal mobility important? 

Upskilling current staff saves time and costs, and also improves employee retention in hr software.

Q4. In what ways can HR technology improve special talent acquisition? 

HR technology can improve sourcing, screen resumes with AI. Utilize data analytics in hiring.

Q5. What HR keywords link to the topic? 

• Recruitment
• Training
• HR technology
• Internal mobility
• Organizational development 
• Employee retention.

 

Reading Time: 3 minutes

A resume guide may sound simple, but it’s an intricate step in making hiring decisions. Resume Passing represents the portion of the recruitment process that moves a candidate from document submission to an opportunity to interview.

Let’s demystify everything there is to know about Resume Passing, and it gets us to the next step in hiring someone.

What is A Resume Guide?

Resume Passing goes from one level of the human resource management team to a different level. Most often from recruiters to hiring managers or from HR executives to department heads. 

While it may seem like a mundane process, the impact is significant. After all, passing resumes to the right hiring managers can minimize time to hire and prevent bad hires.

Why is Resume Guide So Important? 

Without a good system for Resume Passing, the hiring team may feel lost and inundated.

More Efficient Filtering

Save the most time by filtering through a huge number of applicants.

Better Alignment

You will be able to assess if candidates meet company and job description standards. 

Team Teaming

You will be able to foster productive and effective discussions between HR professionals and department leads. 

So, you can see how if we do not have this phase, or if we handle this phase poorly, then it can lead to inconsistent hiring and various other hiring costs and time loss. 

How Does Resume Guide Work?

1. Resume Collection
2. Initial Screening 
3. Shortlisting
4. Resume Submission

Key Tools and Technology Used

Automation is a major part of modern recruiting. In the Resume Passing stage, tools such as ATS, AI resume scanners, and recruitment CRMs have the ability to:

• Screen resumes in bulk, automatically.
• Flag the best candidates for you.
• Track the current status of candidates in real-time.

Not only do they increase HR efficiency, but they also prevent human error.

Challenges In Resume Passing

Problems still exist, even with these technologies. Oftentimes, the common resume passing problems include:

• Keyword stuffing from candidates needing to get past an AI filter.
• Pushing the automation too far and relying on technology to replace human-based instincts.

That is why it is recommended that you find a balance. Between the technology and your personal judgment, to successfully pass the resumes.

Recommendations for Improving Resume Passing

Ultimately, the improvement of this stage leads to not only a better hiring process. But also a better candidate experience overall. Here are some recommendations that would be helpful in improving resume passing:

• Have your HR staff trained on how to evaluate candidates properly, without bias.
• Have a scoring system.

Conclusion

Resume Passing covers much more ground than just passing over resumes. Hiring staff who have what it takes is important. The main achievement is learning what the job requires. Working toward the company’s main goals and trying to remove any bias during the candidate selection process.

FAQs

 

Q1. What is Resume Passing in HR?

Resume passing is the process of screening resumes. And then submitting the selected resumes.

Q2. Who takes care of Resume Passing?

Generally, this is a responsibility of the HR recruiter or the talent acquisition team.

Q3. Can an ATS assist with Resume Passing?

An Applicant Tracking System (ATS) can assist in Resume Passing. 

Q4. What are the consequences of a bad Resume Passing?

A bad Resume Passing can lead to delays in 

Filling a position

Missing the best talent, or worse

Making the wrong hire altogether

Q5. Is automated screening better? Then, human screening for Resume Passing?

While there are advantages to automation. Reservations about a human screening for prospective employees’ sexuality. Understanding prospective employees beyond keywords and job descriptions requires human interpretation.