Essay on the Impact of Human Resource Management Strategies on Employee Motivation in a Newly Initiated Start-Up
Introduction
The purpose of this essay is to understand the influence of Human Resource strategies on employee motivation in a newly initiated start-up. This essay will highlight the concept of human resource strategies and highlighting the relationship between different human resource strategies on employee motivation.
Discussion
Human Resource Management Strategies
Human resource management strategies are business/organisation road maps for managing its human asset to align with its organisation goal. These strategies outline the direction of every aspect of human resources including hiring, development, appraisal, and compensation. The ultimate goal of human resource strategies is to stay focused on getting optimum performance from employees. A good set of human resource strategies will not only get you the best performance from employees but will also result in the best overall performance of the company.
Example
Let’s take an example of NETFLIX. According to NETFLIX strategy they hire only A-grade employees and release B grade employees, this strategy was a source of happiness and motivated remaining employees to be more productive.
Newly Initiated Start-up
In the modern era we observe there are numerous start-ups businesses, these are newly initiated businesses operated by one or more entrepreneurs where unique products or services are introduced in the market, some examples of these start-ups are UBER, ZOOM, AMAZON, etc.
Impact of Human Resource Strategies on Employee Motivation in a Newly Initiated Start-up
Competitive Salaries Strategy and Employee Motivation
It is the most common strategy used these days by competitive salary means offering equal or more salaries as compared to the market. Employees find such opportunities attractive and wish to work for an organisation that pays a bit extra for the same as compared to others in the market.
Enviable Benefits Packages Strategy and Employee Motivation
Enviable packages are non-wage compensation packages that are offered to employees in addition to their salaries. Enviable benefits include health insurance, life insurance, retirement plans, leaves, health care facilities, etc. These benefits defer from employer to employer. Employees these days value these benefits a lot.
Promotion Opportunities Strategy and Employee Motivation
While selecting an organisation for a job an employee is always concerned about his/her growth opportunities. An employee always wants to grow himself/herself and seeks promotion with the passage of time. It’s very important for an Royal British Essay writers organisation to carefully construct its promotion plans and communicate growth opportunities with transparency to its employees. In the modern era employees are more concerned about their future growth plans.
Continuous Staff Training and Development Strategy and Employee Motivation
Any business or organisation needs to invest in its employees in order to compete and thrive successfully. Organisations/businesses need to realise employees are a most valuable asset and investing in the employee is basically investing in their own organisation/business. This helps to retain employees and create trust in the organisation.
Open-door Policy Strategy and Employee Motivation
Open door policy is basically a practice of encouraging proverbial doors to all staff. This leads to better communication and builds trust in an organisation. Employees are welcomed to share their valuable thoughts which help to achieve innovation and growth. The employee feels they are being respected and their thoughts are valued.
Conclusion
We can conclude that human resource strategies play an important role in any organisation; it helps to attract potential employees, retain potential employees, and obtain optimum results from valuable employees. Focusing on newly initiated start-ups , start-up businesses need to grow as fast as possible and to stay in business they need potential employees who work for these organisations with their best efforts
