Strategic fit: aligning a company Strategy and its resources with the environment, the company can achieve Superior performance.
Strategic flexibility: The ability of the Company to adjust to changes.
How can a company sustain strategic fit whilst enjoying flexibility in The competitive environment?
Give system flexibility within the company, which allows it to create Batches of unique products quickly, at a relatively low cost, as and when Required. Transferability makes the flexible system a valuable resource. Strive To acquire flexible (knowledge) workers and organic structures in a Hypercompetitive environment. Basis for this flexibility can be made possible By installing a company culture based on creativity and quick response.
Best practices paradigm: Delerty and Doty identified 7 practices Consistently considered to be strategic in nature: - Internal career Opportunities –formal training systems – appraisal measures –profit sharing – Employment security –voice mechanisms –job definition.
Horizontal fit: refers to the internal consistency of the Organization’s HR policies, practices.Vertical fit: refers to the congruence of the HR system with other Org characteristics such as the company strategy.
Learning organization: an org that has Developed the capacity to continuously learn, adapt and change through the Practice of knowledge management by employees. Characteristics: -Open team Based organization design that empowers employees- Extensive and open info Sharing –Leadership that provides a shared vision of the org. Future –strong culture of shared values, trust, Openness, and sense of community. (Managing global structural issues)
Steps in the selection process: Screening Applications and résumés, testing and reviewing work samples, interviewing Candidates, checking references and background and making the selection.
Measuring performance Management: METHODS
-Making comparisons: simple ranking, forced distribution, paired Distribution.
-Rating individuals: Graphic rating scale, Mixed-standard scale, Critical-incident method, bars, behavioral observation scale, OBM.
-Measuring the results: MBO (Management by objectives)
- Measuring quality: Total Quality Management: performance measurement Combines measurements of attributes and results.
SOURCES: 360-DEGREE PERFORMANCE APPRAISAL: performance measurement that combines Information from the employees’ managers, peers, subordinates, self and Customers.
Giving performance feedback Is very important. Annual feedback is not enough. It should be a regular, Expected management activity. During the feedback session, managers can take Any of these approaches: “Tell and sell”, “Tell and listen” and “Problem Solving”.
COMPENSATION: all forms of Financial returns and tangible services and benefits employees receive as part Of an employment relationship.
Purpose of compensation for the employer: attract candidates, motivate Employees, retain talent, consistency in compensation… and for the employee: Work life balance, recognition, planning for better quality of life…
COMPENSATION OBJECTIVES: IBM
-Pay for performance: Pay our best performers like the best in the Market place.
-Differentiate strongly: give larger increases/bonuses to those who Deserve more.
-Pay competitively: Attract, retain and motivate, as well as enable Competitive prices for IBM services and solutions.