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Referring to positive employment relationships, HRM must create people management strategies to maximise organisational performance, (Bailey, 2018). For example, (CIPD) engagement strategies focus on employee participation: explicit knowledge; having a voice at staff meetings, tacit knowledge; intellect of expressing ideas. ICT communications assist for social engagement. On increasing sales, Ko (2019) agrees, a commitment -based strategy, [skills and knowledge] improves long-term performance levels by 16.9%, (Bailey, 2018:156).
Figure 13.1 Different Classification of Knowledge Model.
Additionally, on theoretical frameworks, (AMO) ability, motivation and opportunity, increases performance,( Bailey, 2018). For example, in the bank, the sales team were rewarded for monthly individual and group sales targets. Reflecting the Attribution Theory, Line managers were handed intended policies from Senior Management to conform with external bureaucratic policy. The line-manager provided good training and coaching in mortgage sales, insurance sales, current accounts and credit cards sales; successful training and engagement from line-managers, led our team to increased sales figures for SHRMs overall goals, closing the gap in the Black Box, (Bailey, 2018:164).
Figure 12.2 Key Factors Influencing Engagement Levels as demonstrated in (Bailey, 2018:254).
Employees, were motivated by extrinsic rewards: thank you cards, flowers, shares in annual profit schemes and sufficient monthly salaries. Good feedbacks from managers assisted our PDP for future annual appraisal, which fully met the Social Exchange Theory (SET) the value in commitment and contribution of reciprocating relationships, (Alfes et al, 2013, as cited in Bailey, 2018:161). Good relationships build good team spirit, building on culture, where, attitudes and behaviours, create a Higher Performance Work System, (HPWS), (Bailey 2018).
Additionally, choosing LAMP (logistics, analytics and data statistics) can measure employee performance and feed-backs on customer satisfaction rates, and, monitoring of financial profits, are all useful to align employment performance to overall business performance. For example,
Return on Capital Employed (ROCE) = Operating Profit
Share Capital + Reserves + Non-Current Liabilities (Attrill& McLaney,2015:193)
Sales Revenue per Employee = Sales Revenue
Number of Employees (Attrill & McLaney, 2015:203)
Which decisions and theories will you embrace, to help close the gap between ineffective employment relationships that hinder, good organisational performance?
Thank you,
Carol
Reference List:
Atrill & McLaney, (2015) Accounting and Finance for Non-Specialists. Available from: Essex: Pearson Education Ltd. [Accessed 25 May 2020].
Bailey, C, Mankin, D, Kelliher, C & Garavan, T (2018) Strategic Human Resource Management. Strategic HRM and Performance. Available from: Essex: Oxford Education Ltd. [Accessed, 25 May 2020].
Ko, Y, (2019) Forming a Firm Innovation Strategy through Commitment-Based Human ResourceManagement.Availablefromhttp://0eds.b.ebscohost.com.serlib0.essex.ac.uk/eds/detail/detail?vid=0&sid=1d150546-d69c-4072-b10e-1d9c5136db92%40pdc-v-sessmgr06&bdata=JnNpdGU9ZWRzLW. [Accessed 25 May 2020].
Bibliography:
Lecturecast (2020) Strategic Human Resource Management/ Performance and Relationships. Available from:https://www.my-course.co.uk/course/view.php?id=5251§ion=11. [Accessed 25 May 2020].
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