W5OMM618Res1 Business & Finance homework help

Please read each passage below, I need a few sentences in response to each part. Please use at least one source. Please cite the reference(s) properly. Part 1 and 2 can be on the same page, however, please keep them separate by labeling them Part 1 and Part 2. No Title Page 

PART 1

Employee Retention and HRM Functions
Indeed, there are multiple issues affecting organizations, such as employee retention, flexible work schedule, contingent workforce, among others. From these issues, I have selected employee retention and how it integrates with functional areas of HRM, mainly training and development and recruiting and selection. Management of employee retention entails the strategic actions and plans to ensure that employees are always motivated and focused on giving them a reason to continue being part of the employment and being productive to benefit the organization (Fahim, 2018). A detailed employee retention program plays a crucial role in attracting and retaining major employees and reducing the turnover cases and the associated expenses. These are essential to the productivity of any company and the general performance of an organization. It is appropriate to retain quality workers than recruit and train others of the same caliber.
Employee retention integrates with training and development and recruiting and selection processes of HRM. Training and development and recruiting and selection processes are key aspects of HRM and employee retention. In particular, the selection and recruiting process is a major step for any company as it ensures that an organization employs talented professionals with substantive quality to add to the company’s success. An effective program of selecting and recruiting guarantees high levels of retention. Training and development increase performance and productivity, boost the employees’ morale and work quality and reduce employee-related issues. Therefore, through an effective structure of selecting and recruiting employees and thereafter training and developing their activities, organizations stand a higher chance to retain talented and motivated workers who may wish to be part of the organization and focused on the general success of the firm.

Reference
Fahim, M. G. A. (2018). Strategic human resource management and public employee retention. Review of Economics and Political Science.

PART 2

The issue I’ve chosen to review is flexible work schedule. I feel this is more important than ever as the world transitions into post-covid work environments. Many jobs that had never been done remotely before were forced to “figure it out” virtually overnight a couple years ago. Since then, organizations have found that many positions don’t need to take up space in an office and can indeed continue working remotely for the foreseeable future. This raises a few concerns with the HRM process that should be considered with flexible work schedules and working remotely.

First, the recruiting for a position changes when considering working remotely. When there isn’t necessarily an office for the potential employee to go to, the external labor market widens as there are no geographic boundaries the hiring team needs to contend with. In the long-term this could make jobs more competitive in certain areas if potential applicants are being sourced from a larger market.

Secondly, benefits/compensation can change as well. If the organization is no longer needing as much office space for employees that will be working remotely, they can save on their real estate costs. This could be reflected in employee benefits offered or higher compensation. A complication of flexible work schedules and working remotely is the HR team needs to consider the cost of living in an area. For example, I live in Michigan where the cost of living is a lot lower than other areas of the country but the organization I work for is based out of northern California. If applicants are competing for a position from across the country, it could be tough for the HR team to properly set benefits/compensation for the position based on the area the employee works in.

The last portion that might be considered would be performance evaluations. If an employee is allowed to flex their work schedule and due to extenuating circumstances, they flex their hours more than a co-worker, there could be collaboration issues within the team which could reflect poorly on a performance evaluation.

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