Workforce Management

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 – 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

BMIS – L1 – QC4 – Ageing Population Impact

Describe consequences of an ageing population for a company with 4,000 employees.

Question

Many countries currently have an ageing population. At some time in the fairly near future, there will be about twice as many individuals who are past the normal age for retirement as there are individuals between 18 and 65 years of age.

Describe the possible consequences of an ageing population for a company that currently employs about 4,000 people.

Answer

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Tags: Ageing Population, Business Strategy, Consumer Demand, Taxation, Workforce Management
Level: Level 1

Topic: The external environment

Tag (SQ): Workforce Management

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

Define 'employee compensation package' for Kumasi Bank Limited.

BMIS – L1 – QE12 – HR – Recruitment

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

BMIS – L1 – QC4 – Ageing Population Impact

Describe consequences of an ageing population for a company with 4,000 employees.

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

Define 'employee compensation package' for Kumasi Bank Limited.

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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"

BMIS – L1 – QC4 – Ageing Population Impact

Describe consequences of an ageing population for a company with 4,000 employees.

You're reporting an error for "BMIS – L1 – QC4 – Ageing Population Impact"

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