Type-writing-Format (Ygn) (2)

docx

School

University of Yangon *

*We aren’t endorsed by this school

Course

FINANCIAL

Subject

Management

Date

Nov 24, 2024

Type

docx

Pages

Uploaded by AmbassadorOstrichMaster874

Candidate Name: ________________________________________________ Candidate ID: ___________________________________________________ Unit Title: ______________________________________________________ Name of Approved Centre:Strategy First University (Yangon) Country: Myanmar Question 1 Subject: Applying Motivation Theory to Drive Employee Engagement and Performance Dear CEO I hope this email finds you in good health. Today, I'd want to talk about one theory of people motivation and how it may be used in our workplace to improve employee engagement and performance. The Self-Determination Theory (SDT) developed by Edward Deci and Richard Ryan is one theory that has received a lot of attention in the subject of human resources. According to SDT, people are motivated by an underlying need for autonomy, competence, and relatedness. We can develop intrinsic motivation by addressing these three psychological needs, which can lead to increased levels of engagement and performance. The Self-Determination Theory (SDT) is a psychology theory that proposes three major psychological characteristics that drive human motivation and well-being: autonomy, competence, and relatedness. Individuals need autonomy to assert control over their actions and behaviors, which can lead to intrinsic drive. The need to feel useful and competent in one's actions, which can improve motivation, is defined as competence. Relatedness refers to the need for social connection and belonging, which can improve one's well-being and motivation. People are more inclined to engage in activities for personal growth and fulfillment when these three psychological requirements are addressed. Extrinsic incentive, which comes from outside sources like as rewards or societal pressure, can, however, undermine intrinsic drive if it is overused or perceived as overwhelming. Creating an environment that encourages autonomy, competence, and relatedness, according to SDT, can boost intrinsic motivation and well-being. This concept has been used to explain and increase human motivation in a range of fields such as education, work, sports, and healthcare. (Lopes et al., 2022) 1. Autonomy: Employee autonomy refers to giving employees a sense of control and freedom over their jobs. Allowing employees to participate in decision-making processes and giving chances for skill development and improvement are all ways to encourage autonomy. Allowing employees to

select how they approach tasks and participate in goal-setting may increase their excitement and loyalty to their professions greatly. (Kalnina, n.d.) 2. Competence: Individuals are deemed competent when they are provided with the resources, feedback, and guidance they require to grow and succeed in their roles. When employees think they can succeed at work, they are more driven. We may help to create competence by offering relevant training and development programs, setting clear goals, recognizing and rewarding successes, and providing constructive feedback. Creating a pleasant and supportive work environment that promotes learning and growth may increase employee confidence and lead to improved performance. (Lopes et al., 2022) 3. Relatedness: Relatedness in the workplace refers to the need for social connection and a sense of belonging. Employees feel respected, encouraged, and connected when managers and teams foster healthy connections among colleagues, which may boost engagement and motivation. Encourage cooperation, team-building events, mentorship programs, and open communication channels inside the business to develop a sense of belonging. (Souders, 2019) We can create a work environment that supports intrinsic motivation and enhances employee engagement and performance by applying SDT concepts. It is critical to emphasize that individual differences occur, and not all employees may be motivated in the same manner. As a result, it is vital to provide employees with a choice of options and opportunities to fulfill their desires for autonomy, competence, and relatedness based on their particular preferences and talents. Finally, understanding and using the principles of the Self-Determination Theory may assist us in creating a workplace culture that encourages intrinsic motivation, engagement, and performance. We can construct a motivated and high-performing staff that drives our company's success by giving individuals autonomy, supporting their competence development, and creating a sense of belonging. (Souders, 2019) Thank you for your attention to this matter. I am open to discussing this in more detail or exploring any other motivation theories that may align with our organizational goals and values further. Best regards - Human Resources Manager

References Kalnina, E. (n.d.). SELF-DETERMINATION THEORY AND STRATEGIES TO RAISE SPECIAL EDUCATIONAL NEEDS STUDENT’S MOTIVATION TO LEARN. Diploma Paper for University of Latvia, FACULTY OF EDUCATION, PSYCHOLOGY AND ART TEACHER EDUCATION DEPARTMENT . [online] Available at: https://www.academia.edu/36799619/SELF_DETERMINATION_THEORY_AND_STRATEGIE S_TO_RAISE_SPECIAL_EDUCATIONAL_NEEDS_STUDENTS_MOTIVATION_TO_LEAR N. Lopes, S., Sabino, A., Dias, P.C., Rodrigues, A., Chambel, M.J. and Cesário, F. (2022). Through the Lens of Workers’ Motivation: Does It Relate to Work–Family Relationship Perceptions? Sustainability , 14(23), p.16117. doi:https://doi.org/10.3390/su142316117. Souders, B. (2019). 20 most popular theories of motivation in psychology . [online] PositivePsychology.com. Available at: https://positivepsychology.com/motivation-theories- psychology/.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Candidate Name: ________________________________________________ Candidate ID: ___________________________________________________ Unit Title: ______________________________________________________ Name of Approved Centre: Strategy First University (Yangon) Country: Myanmar Question 2 There are several different approaches to human resources management, each with its own unique focus and perspective. Let's explore some of these approaches in a logical manner: Traditional Approach: Traditional human resource management is concerned with administrative responsibilities including payroll, benefits administration, recruiting, and labor law compliance. It underlines the need of maintaining efficient operations while complying with all regulatory standards. However, this method may miss the need of strategic planning and employee development. Strategic Approach: The strategic approach to human resource management aligns HR practices with the broader aims and objectives of the firm. Finding and developing talent, implementing performance management tools, and nurturing an inventive and productive culture are all part of it. This approach recognizes that an organization's effectiveness is inextricably linked to its employees' talents, motivation, and engagement. (MacKenzie, 2023) Human Capital Approach: The human capital approach views employees as valuable assets and investments in the organization's success. It emphasizes the acquisition, development, and retention of skilled and talented individuals who can contribute to the organization's growth and competitiveness. This approach values continuous learning and development opportunities to enhance employees' knowledge, skills, and abilities. Employee-Centric Approach: The employee-centric approach places a strong emphasis on employees' well-being, job satisfaction, and work-life balance. It recognizes that happy and engaged employees are more likely to be productive, innovative, and loyal to the organization. This approach involves creating a positive work environment, promoting open communication, and providing support for employees' physical, mental, and emotional well-being. High-Performance Approach:

The high-performance approach aims to create a culture of excellence and achieve exceptional organizational performance. It involves setting high standards, promoting teamwork and collaboration, and recognizing and rewarding outstanding performance. This approach encourages continuous improvement and challenges employees to reach their full potential. (MacKenzie, 2023) Diversity and Inclusion Approach: The diversity and inclusion approach focuses on creating a diverse workforce and fostering an inclusive work environment where all employees feel valued and respected. It recognizes the benefits of different perspectives, backgrounds, and experiences in driving creativity, innovation, and problem-solving. This approach involves implementing inclusive policies and practices, promoting diversity in recruitment and promotion, and providing training on unconscious bias and cultural competence. It's important to note that these approaches are not mutually exclusive, and organizations may adopt a combination of them based on their specific needs and goals. Effective human resources management involves understanding the unique characteristics and expectations of employees, aligning HR practices with organizational objectives, and continuously adapting to changes in the external environment. (Jaiswal, 2022) 1. Best Practices Model: The best practices model suggests that there are certain HR practices that, when implemented effectively, can lead to superior organizational performance. This approach emphasizes identifying and adopting industry-leading practices in areas such as recruitment, training, performance management, and compensation. By benchmarking against successful organizations, HR managers can improve their own practices and achieve better outcomes. (Jaiswal, 2022) 2. Life Cycle Model: The life cycle model recognizes that HR needs change as an organization evolves through different stages of growth. This approach focuses on tailoring HR strategies and practices to specific stages, such as start-up, growth, maturity, and decline. For example, in the start-up phase, HR may focus on talent acquisition and setting up basic HR systems. In the growth phase, HR may emphasize employee development and performance management to support expansion. (Chai, 2020) 3. Competitive Strategy Model: The competitive strategy model aligns HR practices with the overall business strategy of the organization. This approach recognizes that a company's HR practices should be designed to support and complement its chosen competitive strategy, whether it is cost leadership, differentiation, or focus. For example, if an organization chooses a differentiation strategy, HR may focus on attracting and retaining top talent, fostering innovation, and developing unique employee capabilities. (Chai, 2020)

4. Strategic Configuration Model: The strategic configuration model emphasizes the integration and alignment of HR practices with each other and with other functional areas within the organization. This approach recognizes that HR cannot operate in isolation and must work in concert with other departments to achieve overall organizational success. For instance, HR may collaborate with marketing and sales teams to develop hiring strategies in line with customer demands, or with finance teams to design compensation plans that align with financial objectives. In practice, organizations often combine elements from multiple models to create a comprehensive approach to human resources management. By incorporating best practices, considering the organization's life cycle stage, aligning HR with competitive strategy, and ensuring strategic configuration, HR managers can enhance their effectiveness in supporting organizational goals and driving employee satisfaction and engagement. (Human Resource, 2021) References Chai, W. (2020). What Is Human Resource Management (HRM)? [online] TechTarget. Available at: https://www.techtarget.com/searchhrsoftware/definition/human-resource-management-HRM. Human Resource (2021). What is Human Resource? (Defined) Human Resource Management Topics - Labour Laws - High Courts & Supreme Court Citation - Case Laws - Human Resource Management - What is HRM? - Definitions - Functions - Objectives - Importance - Evolution of HRM from Personnel management . [online] www.whatishumanresource.com. Available at: https://www.whatishumanresource.com/human-resource-management. Jaiswal, S. (2022). What is Strategic Human Resource Management (SHRM) | Emeritus India . [online] Emeritus - Online Certificate Courses | Diploma Programs. Available at: https://emeritus.org/in/learn/what-is-strategic-human-resource-management-shrm/. MacKenzie, K. (2023). How is AI used in human resources? 7 ways it helps HR . [online] Recruiting Resources: How to Recruit and Hire Better. Available at: https://resources.workable.com/tutorial/artificial-intelligence-in-human-resources.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Candidate Name: ________________________________________________ Candidate ID: ___________________________________________________ Unit Title: ______________________________________________________ Name of Approved Centre: Strategy First University (Yangon) Country: Myanmar Question 3 Title: Human Resources Policies Report Introduction: The purpose of this report is to provide a comprehensive overview of the Human Resources (HR) policies in our organization. As the Human Resources Director, it is crucial to establish clear and consistent guidelines that govern the management of our workforce. These policies aim to ensure fairness, compliance with legal and ethical standards, and promote a productive and harmonious work environment. Title: Analysis of Concepts in an Organization's Human Resources Policy In this report, we will analyze the concepts that should be included in an organization's overall human resources policy. We will explore how contemporary ideas are linked to the practice of human resources and their significance in creating effective HR policies. 1. Diversity and Inclusion: Contemporary organizations recognize the importance of embracing diversity and fostering inclusion. HR policies need to reflect a commitment to equal opportunities, fair treatment, and creating an inclusive work environment. This includes promoting diverse hiring practices, implementing anti-discrimination measures, and providing training to eliminate bias in decision- making processes. These practices not only ensure compliance with legal requirements but also contribute to a diverse and innovative workforce. 2. Employee Engagement: Employee engagement is crucial for organizational success and productivity. HR policies should emphasize strategies to enhance employee engagement, such as regular communication channels, recognition and rewards programs, employee development opportunities, and work-life balance initiatives. These policies promote a positive company culture and foster a motivated and committed workforce. By prioritizing employee engagement, organizations can improve retention rates and achieve better business outcomes. (NSW Government, 2019) 3. Talent Management:

Effective talent management involves attracting, developing, and retaining skilled employees. HR policies should outline strategies for recruitment, onboarding, performance management, and career progression. By aligning HR policies with talent management practices, organizations can ensure they have the right people in the right roles, leading to increased productivity and long- term success. This includes implementing succession planning, conducting regular performance evaluations, and providing opportunities for growth and development. 4. Workforce Flexibility: Contemporary organizations understand the need to adapt to changing work dynamics. HR policies should incorporate flexible work arrangements, such as remote work options, flexible schedules, and job sharing. By enabling employees to achieve work-life balance and accommodating different work styles, organizations can improve employee satisfaction and attract top talent. Additionally, flexible policies allow organizations to effectively respond to unforeseen circumstances, such as pandemics or natural disasters. (NSW Government, 2019) 5. Learning and Development: Continuous learning and development are crucial for both individual and organizational growth. HR policies should outline strategies for employee training, mentorship programs, skill-building opportunities, and knowledge-sharing platforms. By investing in employee development, organizations can enhance their capabilities and remain competitive in a rapidly evolving marketplace. This includes supporting continuous education, offering internal workshops, and creating a culture of learning. (ADP, 2021) 6. Ethical Practices and Corporate Social Responsibility (CSR): HR policies should demonstrate a strong commitment to ethical practices and CSR. This includes fair wage policies, employee well-being initiatives, environmental sustainability efforts, and ethical supply chain management. Aligning HR policies with ethical standards helps build trust with employees, customers, and stakeholders while contributing to social and environmental responsibility. Organizations should establish clear guidelines regarding ethics, integrity, and social impact within their HR policies. (CIPD, 2023) 7. Technology Integration: In today's digital age, HR policies must address technology integration within HR processes. This includes utilizing HR information systems, implementing digital recruitment strategies, and leveraging data analytics for decision-making. Embracing technology enables organizations to streamline HR processes, improve efficiency, and gain valuable insights into their workforce. It is essential to stay updated with emerging technologies and assess their impact on HR practices regularly. Conclusion: To create effective HR policies, organizations must incorporate contemporary ideas that align with the practice of human resources. Concepts such as diversity and inclusion, employee

engagement, talent management, workforce flexibility, learning and development, ethical practices, CSR, and technology integration play a vital role in shaping policies that foster a productive and positive work environment. By embracing these concepts, organizations can attract and retain top talent, maximize employee potential, and drive overall organizational success. HR policies should be updated regularly to ensure they align with current trends, legislation, and best practices in the field of human resources. These HR policies serve as a foundation for effective people management within our organization. They provide clear guidelines for fair treatment, employee development, compensation practices, and maintaining a healthy work environment. Regular review and updates will be conducted to align with evolving legal requirements, industry standards, and the ever-changing needs of our workforce. By upholding these policies, we create a positive work culture that promotes employee satisfaction, engagement, and long-term organizational success. (Human Resource, 2021) References ADP (2021). HRM | What is Human Resource Management? | ADP . [online] www.adp.com. Available at: https://www.adp.com/resources/articles-and-insights/articles/h/human-resource- management.aspx. CIPD (2023). CIPD | HR Policies | Factsheets . [online] CIPD. Available at: https://www.cipd.org/en/knowledge/factsheets/hr-policies-factsheet/. Human Resource (2021). What is Human Resource? (Defined) Human Resource Management Topics - Labour Laws - High Courts & Supreme Court Citation - Case Laws - Human Resource Management - What is HRM? - Definitions - Functions - Objectives - Importance - Evolution of HRM from Personnel management . [online] www.whatishumanresource.com. Available at: https://www.whatishumanresource.com/human-resource-management. NSW Government (2019). Workplace Policies and Procedures Checklist . [online] NSW Industrial Relations. Available at: https://www.industrialrelations.nsw.gov.au/employers/nsw-employer-best- practice/workplace-policies-and-procedures-checklist/.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Candidate Name: ________________________________________________ Candidate ID: ___________________________________________________ Unit Title: ______________________________________________________ Name of Approved Centre: Strategy First University (Yangon) Country: Myanmar Question 4 Target setting is a widely used practice in organizations particularly in the context of human resources management. It involves setting specific and measurable goals for employees to achieve within a given timeframe. This approach has several benefits for an organization's overall performance and can greatly impact employee motivation productivity and development. In this evaluation we will explore the benefits of target setting in human resources management. Target setting is a strategy that helps employees understand their expectations, align their efforts, and prioritize tasks, leading to increased efficiency and effectiveness. It also promotes employee motivation by providing tangible goals that motivate them to work towards them, leading to higher job satisfaction and increased morale. This approach helps employees feel a sense of purpose and achievement in their work.(Steinmann, Klug and Maier, 2019) Furthermore target setting facilitates performance evaluation and feedback. With specific goals in place it becomes easier for managers to assess and provide constructive feedback on individual and team performance. This feedback can help identify areas of improvement and allow for timely interventions or adjustments ultimately driving higher performance levels. Target setting is a fundamental practice in human resources management as it provides numerous benefits to an organization. The process of setting targets allows HR departments to align their efforts with the overall organizational goals and facilitates effective performance management. In this evaluation, we will examine the benefits of target setting in the context of human resources management using a range of concepts. (Human Resource, 2021) 1. Clarity and Focus: Setting targets provides clarity to employees regarding what is expected from them in terms of performance and deliverables. It helps to prioritize tasks and focus efforts towards achieving specific objectives. With clear targets, employees have a better understanding of their roles and responsibilities, which enhances productivity and minimizes confusion. 2. Motivation and Engagement: Targets act as a source of motivation for employees. When individuals have attainable and challenging targets, they are more likely to be engaged and committed to their work. The focus on achieving goals cultivates a sense of accomplishment and

drives employees to perform at their best, leading to improved job satisfaction and increased employee retention. 3. Performance Management: Target setting is an essential component of effective performance management. By setting SMART (Specific, Measurable, Achievable, Relevant, Time-bound) targets, HR departments can assess employee performance objectively, provide constructive feedback, and determine rewards and recognition programs. This process allows organizations to identify high-performing employees, support their development, and initiate corrective actions if necessary. 4. Continuous Improvement: Setting targets creates a culture of continuous improvement within an organization. By regularly reviewing and updating targets, HR departments, together with employees, can identify areas for growth and take necessary actions to enhance skills, knowledge, and efficiency. This promotes a learning environment and fosters innovation within the workforce. 5. Alignment with Organizational Goals: Effective target setting ensures alignment between individual and organizational goals. HR departments play a crucial role in cascading corporate objectives to specific targets for various teams and individuals. This alignment enhances coordination, collaboration, and teamwork across the organization, ultimately contributing to the achievement of strategic goals. 6. Employee Development: Target setting provides a framework for employee development and career advancement. By defining achievable targets that challenge employees' current capabilities, organizations facilitate skill enhancement and nurture talent. This approach not only benefits individual employees but also strengthens the overall human resources capability within the organization. (Tardi, 2022) In addition target setting encourages employee development and growth. When employees are challenged with specific goals they are compelled to acquire new skills or enhance existing ones to meet those targets. This continuous learning and development improve their professional capabilities and contribute to their long-term career progression. (Human Resource, 2021) Moreover target setting supports effective resource allocation and prioritization. By setting and monitoring goals organizations can assess the allocation of resources to ensure that they are used efficiently and effectively. It helps in identifying resource gaps allocating resources where they are most needed and optimizing productivity across different teams or departments. (Tardi, 2022) However it is important to note that target setting should be approached with caution. Unrealistic or excessively challenging goals can lead to stress burnout and unhealthy competition among employees. Therefore setting attainable yet challenging targets is crucial to strike a balance between motivation and well-being. In conclusion target setting offers several benefits to an organization in the context of human resources management. It provides clarity direction and motivation to employees promotes

performance evaluation and feedback supports employee development and enables effective resource allocation. By implementing target setting practices organizations can enhance their overall performance productivity and employee satisfaction. Target setting in human resources management offers numerous benefits for organizational success. It provides clarity, motivation, and engagement, focusing efforts, improving performance management, fostering a culture of continuous improvement, aligning individual and organizational goals, contributing to employee development, and promoting efficient resource allocation. HR departments should ensure realistic, meaningful targets are regularly reassessed. (Chellappa, 2023) References Chellappa, S. (2023). Importance of Goal Setting for Employees . [online] Engagedly. Available at: https://engagedly.com/blog/7-reasons-why-goal-setting-is-important/. Human Resource (2021). What is Human Resource? (Defined) Human Resource Management Topics - Labour Laws - High Courts & Supreme Court Citation - Case Laws - Human Resource Management - What is HRM? - Definitions - Functions - Objectives - Importance - Evolution of HRM from Personnel management . [online] www.whatishumanresource.com. Available at: https://www.whatishumanresource.com/human-resource-management. Steinmann, B., Klug, H.J.P. and Maier, G.W. (2019). The Path Is the Goal: How Transformational Leaders Enhance Followers’ Job Attitudes and Proactive Behavior. Frontiers in Psychology , [online] 9(2338). doi:https://doi.org/10.3389/fpsyg.2018.02338. Tardi, C. (2022). Performance Management—We Explain This Corporate Tool . [online] Investopedia. Available at: https://www.investopedia.com/terms/p/performance-management.asp.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version