Fostering Friendships - Enhancing Social Bonds in the Classroom
ITFT-Selection
1. Selection
• This process helps the company in filling the suitable
employees with suitable positions to perform the task and
duties in the organization.
• Selection is not same as recruitment because it talks about
choosing the best and the right candidate for the position,
for the vacancy and for the organization.
• It requires the candidate should possess skills, abilities,
knowledge, eligibility, qualification and many more.
4. Career Planning
• Career planning is the process by which one selects career goals
and the path to these goals. The major focus of career planning is
on assisting the employees achieve a better match between
personal goals and the opportunities that are realistically
available in the organization. Career programmer should not
concentrate only on career growth opportunities. Practically
speaking, there may not be enough high level positions to make a
upward mobility a reality for a large number of employees.
Hence career planning efforts need to pin-point and highlight
those areas that offer psychological success instead of vertical
growth. Career planning is not an event or end in itself, but
continues process of developing human resources for achieving
optimum results. It must, however, be noted that individual and
organizational careers are not separate and distinct. A person
who is not able to translate his career plan into action within the
organization may probably quite the job, if he has a choice.
Organizations, therefore, should help employees in career
planning so that both can satisfy each other’s needs.
•
5. Process of Career Planning
The career planning process involves the following
steps:
• Identifying Individual needs and aspirations
• Analyzing career opportunities
• Aligning needs and opportunities
• Action plans and periodic review
• Career development
7. Compensation and salary
administration
• Compensation management, also known as wage and
salary administration remuneration management, or
reward management, is concerned with designing and
implementing total compensation package. The
traditional concept of wage and salary administration
emphasized on only determination of wage and salary
structures in organizational settings. However, over
the passage of time, many more forms of
compensation as discussed earlier, entered the
business field which necessitated to take wage and
salary administration in comprehensive way with a
suitable change in its nomenclature
10. Factors affecting Executive
Compensation
•
• Complexity of the job: the degree of complexity in an executive’s
job is much higher as compared to other organizational jobs.
Such complexity is directly dependent on the size of
organizational lines of products/services, and geographical area
coverage. Thus, in an organization of large size with multiline
products/services and multi-locations, the degree of complexity
in the executive’s job is much higher. Naturally executives in such
organizations need to be paid more. Executives of fortune 500
companies draw much higher compensation than their
counterparts in other companies.
• Competency required: Different jobs required different types of
competencies. Organizations that operate in a comparatively
stable environment (like traditional manufacturing sector) adopt
mechanistic-oriented systems which require comparatively lesser
flexibility and variety in executive’s competencies.
