HR Strategy – Knowsia

BMIS – L1 – E19 – HR – Other human resources functions

Define 'Compensation' in the context of employment.

Question

The strategy and structure of compensation programmes have important implications for businesses and their ability to create and sustain competitive advantage.

Required:

(a) What is meant by ‘Compensation’?

(b) State FOUR characteristics of an effective compensation system.

(i) Direct compensation

(ii) Indirect compensation.

Answer

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Tags: Compensation, direct compensation, Employee Benefits, HR Strategy, indirect compensation
Level: Level 1

Topic: HR - Other Human Resources Functions

BMIS – L1 – E18 – HR – Other human resources functions

Define 'employee compensation package' for Kumasi Bank Limited.

Question

Kumasi Bank Limited is a leading financial institution and is well-known for its strength in rendering highly efficient professional services to its customers and keeping ahead of the competitors.

The bank follows a policy of recruiting staff at the entry level after careful evaluation of the qualifications of the candidates, their potential for advancement, professional aptitude and career objectives. Staff are groomed and entrusted with increasing responsibilities after careful career-path planning for each employee.

The bank operates in a highly competitive environment where the skills, knowledge and commitment of its human resources are of critical importance for the success of its business. The competitors are always on the lookout to identify professional staff and hire them at more attractive compensation packages.

Required:

(a) What do you understand by the term ’employee compensation package’?

(b) List and explain the essential steps involved in the formulation and implementation of a well-conceived employee compensation strategy which the bank should incorporate in developing its overall HR strategy.

Answer

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Tags: Banking Industry, competitive environment, employee compensation, HR Strategy, Workforce Management
Level: Level 1

Topic: HR - Other Human Resources Functions

BMIS – L1 – QE16 – HR – Training and Development

State five benefits of training and development for an organization.

Question

There have been many instances where accountants have found themselves in conflict with human resource managers over investing huge financial resources in the training and development of employees. Some accountants consider such investment as wasting of resources.

(a). State FIVE benefits of training and development of employees to an organisation.

(b). State FIVE reasons you believe it would be in the interest of every organisation to remunerate its employees well.

Answer

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Tags: Compensation, Employee motivation, HR Strategy, Productivity, Retention, Talent Attraction
Level: Level 1

Topic: HR - Other Human Resources Functions

BMIS – L1 – QE14 – HR – Training and Development

Explain the difference between training and development in HR practices.

Question

Explain briefly the difference between training and development.

Answer

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Tags: Development, Employee Growth, HR Strategy, Skill Enhancement, Training
Level: Level 1

Topic: HR - Training and Development

BMIS – L1 – QE12 – HR – Recruitment

Explain advantages and disadvantages of internal promotion and transfer for foremen in a new tractor division at Pioneer Automobile.

Question

Pioneer Automobile Company Limited intends to diversify its operations by establishing a separate division for manufacture of a less-expensive brand of tractors. The tractors would be used primarily by agriculturists having small farm holdings. The management is contemplating whether to promote personnel from the automobile division for certain middle-level technical positions in the tractor division and induct new entry level personnel in the automobile division, or alternatively recruit foremen level personnel from external sources for the tractor division by advertising for the positions in the news media.

Required

Narrate and explain briefly the advantages and disadvantages of internal promotion and transfer of foremen level personnel for the tractor division from the automobile division

Answer

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Tags: Employee Morale, Employee Transfer, HR Strategy, Internal Promotion, Organizational Efficiency, Recruitment, Talent Acquisition, Workforce Management
Level: Level 1

Topic: HR - Recruitment

Tag (SQ): HR Strategy

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BMIS – L1 – E19 – HR – Other human resources functions

Define 'Compensation' in the context of employment.

BMIS – L1 – E18 – HR – Other human resources functions

Define 'employee compensation package' for Kumasi Bank Limited.

BMIS – L1 – QE16 – HR – Training and Development

State five benefits of training and development for an organization.

BMIS – L1 – QE14 – HR – Training and Development

Explain the difference between training and development in HR practices.

BMIS – L1 – QE12 – HR – Recruitment

Explain advantages and disadvantages of internal promotion and transfer for foremen in a new tractor division at Pioneer Automobile.

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BMIS – L1 – E19 – HR – Other human resources functions

Define 'Compensation' in the context of employment.

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BMIS – L1 – E18 – HR – Other human resources functions

Define 'employee compensation package' for Kumasi Bank Limited.

You're reporting an error for "BMIS – L1 – E18 – HR – Other human resources functions"

BMIS – L1 – QE16 – HR – Training and Development

State five benefits of training and development for an organization.

You're reporting an error for "BMIS – L1 – QE16 – HR – Training and Development"

BMIS – L1 – QE14 – HR – Training and Development

Explain the difference between training and development in HR practices.

You're reporting an error for "BMIS – L1 – QE14 – HR – Training and Development"

BMIS – L1 – QE12 – HR – Recruitment

Explain advantages and disadvantages of internal promotion and transfer for foremen in a new tractor division at Pioneer Automobile.

You're reporting an error for "BMIS – L1 – QE12 – HR – Recruitment"

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