Scribd
Upload
60 views

Introduction To HRM: Dr. Sumi Jha

This document outlines the personnel policy for loans to staff at ABC Group of Companies. Key details include: 1) The policy establishes a uniform code for sanctioning short-term loans to assist employees during financial difficulties. 2) Loans up to 6 months' basic salary or Rs. 10,000 (whichever is less) may be sanctioned at the sole discretion of management. 3) Interest rates of 5% annually apply to employees earning over Rs. 3,001, while loans are interest-free for those earning Rs. 3,000 or below. 4) Recovery will be in 12 monthly installments deducted from salary to fully repay the loan within a year.

Uploaded by

Vismit Parihar
Copyright
© © All Rights Reserved
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
60 views

Introduction To HRM: Dr. Sumi Jha

This document outlines the personnel policy for loans to staff at ABC Group of Companies. Key details include: 1) The policy establishes a uniform code for sanctioning short-term loans to assist employees during financial difficulties. 2) Loans up to 6 months' basic salary or Rs. 10,000 (whichever is less) may be sanctioned at the sole discretion of management. 3) Interest rates of 5% annually apply to employees earning over Rs. 3,001, while loans are interest-free for those earning Rs. 3,000 or below. 4) Recovery will be in 12 monthly installments deducted from salary to fully repay the loan within a year.

Uploaded by

Vismit Parihar
Copyright
© © All Rights Reserved
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
You are on page 1/ 19

Introduction to HRM

Dr. Sumi Jha


Glassdoor’s 100 best places to work for-2019
1. Bain & Company
Company rating: 4.6
"Bain fosters a really supportive and fun work
environment. At a local level, my colleagues are at once
my mentors, confidantes, and closest friends." --Bain &
Company associate consultant (Los Angeles)

2. Zoom Video Communications


Company rating: 4.5
"Fantastic company culture of 'Happiness.' You feel it
every day and you can't wait to come to work because
you feel 'cared for.'" --Zoom Video Communications mid-
market account executive (San Jose, California)
3. In-N-Out Burger
Company rating: 4.5
"You have great opportunities to advance both in store
and corporate. They offer great training and have a
great support structure." --In-N-Out Burger Oracle
database administrator (Irvine, California)

4 Procore Technologies
Company rating: 4.5
"The BIGGEST pro of Procore, is the opportunity for
career growth. Procore is all about making you better
and letting you follow your interests." --Procore
Technologies software engineer (Carpinteria, California)
5. Boston Consulting Group
Company rating: 4.5
"Best work and life balance, amazing benefits, amazing
people and most importantly a people-first focused company.
What else can you ask for?" --Boston Consulting Group IT
product manager (Atlanta)

6.  LinkedIn
Company rating: 4.5
"I love working for a company whose vision aligns with my
personal beliefs. We are motivated by our belief that we are
changing the world for the better." --LinkedIn Business
Leadership Program (San Francisco)
7. Facebook
Company rating: 4.5
"I've never worked at a company that cares so much about
its people. Taking care of yourself and working sustainably is
part of the culture." --Facebook hardware engineer (Menlo
Park, California)

8. Google
Company rating: 4.4
"Working at Google is truly amazing. The best people, perks,
and awesome company culture with lots of opportunities for
growth." --Google IT field technician (Sunnyvale, California)
What is Human Resource Management?

 Human resource (HR) management


 refers to the practices and policies one needs to carry out to
deal with the personnel aspects of the job management
 Human resource management (HRM) is the effective
management of people at work
 The goal: make employees more satisfied and productive

 When an organization is concerned about people, its total


philosophy, culture, and orientation reflect it
 Every manager must be concerned with people, whether or
not there is a human resources department
Evolution of HRM in India

Period Status Outlook Emphasis Status


Development
1920s-1930s Beginning Pragmatism of Statutory, welfare, Clerical
capitalists paternalism

1940s-1960s Struggling for Technical, Introduction of Administrative


recognition legalistic techniques

1970s-1980s Achieving Professional, Regulatory, conforming, Managerial


sophistication legalistic, imposition of standards
impersonal on other functions

1990s Promising Philosophical Human values, Executive


productivity through
people
Functions of HRM
P/HRM

Managerial Operative Functions


functions:
– Planning
Procurement Development: Motivation and Maintenance: Integration: Emerging
Compensation: Issues:
Job Analysis Training Grievances
Job design Health Personnel
HR planning Executive Discipline records
development Work scheduling
– Organizing
Safety Personnel audit
Recruitment Motivation Teams and
Career planning teamwork Personnel
Selection Job evaluation research
Succession Welfare Collective
– Directing planning Performance and bargaining HR accounting
Placement potential appraisal
Human Social security Participation HRIS
Induction resources Compensation
administration Empowerment Job stress
development
– Controlling Internal strategies Mentoring
mobility Incentives Trade unions
benefits and International
services Employers’ HRM
associations

Industrial
relations
The Context of HRM
The Human Resource Cycle
Distinguishing Between HRM and PM
Traditional vs. Strategic HR

Traditional HR Strategic HR
Responsibility for Staff maintenance Talent managers
HR
Focus Employee Relations Partnerships
Role of HR Transactional Transformational
Initiatives Reactive & Proactive & Integrated
Fragmented

Key Investments Capital & Products People & Knowledge


Accountability Cost Center Investment Center
Possible Roles of the HR Function
Strategic Focus

Strategic Partner Change Agent

Systems People

Administrative Expert Employee Champion

Operational Focus
Personnel Policies
Policies
Policy is a plan of action
Deep thought to the basic needs of both the organization
and the employees
Consistent treatment of all personnel throughout the
organization
Continuity of action is assured
Policies serves as a standard of performance
Sound policies help build employees motivation and
loyalty
Few specific personnel policies are:
Policy of hiring people
Policy on terms and conditions of employment
Policy with regard to medical assistance
policy regarding housing, transport, uniform and
allowances
 Policy regarding training and development
 policy regarding industrial relations
ABC GROUP OF COMPANIES POLICY FOR
LOANS TO STAFF

EFFECTIVE DATE : 1ST NOVEMBER 1996


APPROVED BY
PERSONNEL POLICY NO.GPP004
 Purpose: 
To establish a uniform code for sanction of loan to assist
employees during short periods of financial difficulty.
Scope:
  This policy applies to all confirmed employees. Sanction
of loans shall be at the sole discretion of Management and
may be discontinued without notice.
 
Responsibilities:
  Personnel Department shall be responsible for
sanction, monitoring and recovery of loans.
Procedure:
1.Loan application stating amount, reason and
installment to be deducted shall be forwarded to
Personnel Department.
 
2.Quantum: The Quantum of loan shall not exceed
six months basic salary or Rs.10000/- whichever
is less.
3. Interest: Loans shall be free of interest for employees
earning a basic salary of Rs.3000/- and below.
Employees earning Rs. 3001/- and above shall pay
interest @ 5% p.a. on the loan sanctioned which shall
be recovered at the time of disbursement.
 
4. Recovery : (I) Recovery shall be in twelve monthly
instalments from salary. If recovery is not made in any
month, following a special request, the amount
recoverable shall be increased proportionately in the
following months so that the total loan is recovered
within twelve months.
 (Ii) Bonus, ex-gratia incentives and any other payment
due to the loanee shall be charged as a security for the
loan and shall be adjusted against the same. To that
extent or if the loan is repaid earlier, proportionate
interest @ 5% p.a. shall be repaid to the loanee.

 5. A fresh loan may not be sanctioned during the


pendency of an earlier loan or before completion of 6
months after repayment of the earlier loan.

 6. Variations in the above terms and conditions may be


made only with the prior written sanction of the
Chairman.

You might also like