People and Organization Principal Practices

  Source(FREENOW for Business, 2023)   Making some effort to implement strategies for retention in a company is vital for keeping a steady and effective employee while reduce the employee turnover and retaining organizational knowledge. As a result of implemented strategical approaches, productivity and employee loyalty will be enhanced. it also positively impacts to the employer brand equity. These aspects also ensure long-term organizational success in a competitive environment (Ananya, 2024). Effective Retention Strategies Which Can be Used in an Organization: Source(QuestionPro, 2024)   Provide Competitive Compensation and Benefits: In the article from Scorgie (2009-2024 ) stated that, for employee retention in a c ompany, management can be made sure to setup a competitive salary and can be provided benefits to the employees in line with the industrial standard. The benefits could be like paid leaves, pension plans, health insurance, and other extras wellness ini...

  Source(Corporate Finance Institute, 2022 ) In the recent business culture, the idea of Environmental, Social, and Governance (ESG) elements and Human Resource Management playing roles connecting each other and it is become more significant. ESG is referred to set of factors which is used to assist, how well a business is performing in the areas related to the social, environmental, and corporate governance while managing its issues and opportunities (Meglio, 2023).   Since HRM plays an important role by helping to form and implement the company’s ESG strategy, here are some approaches that HRM can be used:   Source(Patrick Petti,2021) Talent Management: HRM is in charge in company’s employee recruitment and onboard process, retention handling, and developing talent. Hence HRM can be concentrated on hiring people who share the company's values and commitment to build sustainable and social responsibility in the context of ESG. They can be added ESG aspects into empl...

  Why a Company Needs to Have a Healthy Work Environment. Source(Te Whatu Ora, 2017) Employee well-being, productivity, and overall organizational performances are directly influenced by work environment in an organization. Hence, it is important to manage healthy work environment within the company.    This will be benefiting to company by increasing Employee engagement and work satisfaction, by reducing the absenteeism and turnover. In addition to that it will promote innovation, teamwork, and creativity, while leading to good problem-solving and decision-making (Coann Labitoria, 2022; Beaumont, 2023). In the end, putting a weight on a healthy workplace environment will gives advantage of a business's long-term viability, competitiveness, and reputation as well.   Few HRM Strategies to Encourage a Healthy Work Environment in an Organization: Source( Personio, 2024 ) Open Communication and Transparency:  Promoting open communication between management and emp...

  What is Grievance Handling and Management and the Steps to Handle It. Source(Masil, 2023) The process of handling and resolving employee issues, disappointment, injustice or complains within a company is referred to as grievance handling and management (indeed, 2024). Makwana, V.   & Pandey, P. (2022) stated that grievance is happened when the employees feel they treated unfairly in the organization regarding the work conditions, payment, interpersonal relations, and company policies etc. Source(OPSEU,2015) So, the grievance handling and management procedure is includes setting up processes and policies for employees to raise their grievance by communication through either directly or indirectly method, investigate fairly about the complaints and gather the information, respond appropriately to the issues, and communicate about the progress, outcome while giving explanation about the decision made. Finally, continuously assess the improvement by getting the feedback and ...

  What is Training and Development? Source(GreggU, 2017) Training and development can be described as a structured efforts which is used to enhance job performance and promote personal and professional growth by focusing on increasing the employees' knowledge, skills, and talents (Bashir & Jahanzeb, 2013). In other words, these programs are not only the knowledge-sharing based; It's also about guiding employees to the path of that, they are valued and the growth within the organization is achievable one (Jennifer Herrity, 2024). When the opportunities are not visible to the employees, they don't bring their fullest potential to work (Claire Hastwell, 2023). Training and development programs can be offered to the employees as traditional classroom training, on-the-job training opportunities, coaching, mentoring, and other growth activities which are customized to individual and organizational requirements.   The Way it Impacts to The Organizations: Source(Arvind Mi...

During the period the economic crisis happens, giving priority to employee’s well-being and handling engagement is important to uphold productivity, efficiency, and satisfaction in a company. This is especially applicable to recent atmosphere in Sri Lanka including past few years, where fluctuations in economic conditions greatly impact to people's finances and quality of life. For minimize the impact from unestablished economic environment, there are some strategical approaches which can be implemented by the organizations to support or encourage their employees, Source(Moorepay, 2022) Offers personal finance management programs, this is one of important approach that can be used to assist employees for managing their financial status throughout the challengeable times. For example, Companies can be provided workshops or seminars which are related to the financial planning and using those can be educated their employees on preparing their budgets or saving and also can be educ...

  Source(GreggU, 2021) In HRM, Rewarding play an important role in encouraging and retaining employees within the organization. Financial Supporting, recognition and Appreciation, career opportunities and its developments, work-life balance all these ideas include in the term “Rewarding”. In parallel, Employee Engagement also important for organizational success, which is encouraged by open communication, empowerment, feedback, teamwork, and a healthy workplace culture (Eva Andres, 2022; Hannah price, 2009-2024). By integrating these aspects, support to the organizational goals by making people feel appreciated and encouraged to perform successfully. Meantime, continuously review and personalizing of these methods are important and needed for reshaping to changing organizational culture and satisfying varied employee needs, these resulting in a peaceful and productive workplace for the employees (Hannah price, 2009-2024)   In Sri Lankan context there are many practica...