Human Resource Management Policies are the framework defined by the HR department which will assist the organisation to take decisions in certain terms with ease. Let us discuss various HRM policies in detail.
Policies are the set of procedures which is developed to make the things happen in a systematic. Human Resource Management Policies are developed by the human resource department to bring a systematic approach in the organisation. There are major areas for which the HR Department develops Policies like:
Recruitment & Selection Policy:
Recruitment and selection policy contains rules regarding what are the sources of which are the sources that HR department needs to consider while planning for recruitment. What is the selection procedure? How to go about the interview? Which source or we going to use for recruitment whether internal or external? Whether the organisation is going to follow same procedure of recruitment for all the level of post in the organisation? For all the above said questions HRM policy will have an answer.
Compensation Policy:
Compensation policy is one of the important policies framed by the HRM department. This policy will give a framework about the allowances that employees will get the bonus that will be shared with employees, structure of salary and wages, tenure of payment, type of incentive, mode of payment etc.
Promotion Policy:
Promotion policy is a sensible issue that needs to be framed carefully by the HR department. In this policy the rules and practices regarding when the employees will be promoted, whether promotion is experience base or performance based. It also explains the ratio of improvement in the compensation applicable along with promotion.
Training and development Policy:
Training and Development policy states the detail about when, what, how and whom to be trained. What is the frequency of regular T&D to be conducted in the organization. The minimum and maximum T&D need to be attended by each employee. Cost to be incurred for training. Who will decide the trainer who will be the trainer etc will be explained in the T& D policy
Performance Analysis Policy:
Analysing the performance of the employees is very important for any organisation. HR defines a policy for conducting the performance appraisal system. In this policy the HR department defines the type of performance appraisal system that will be practiced in the organisation, who will be the appraiser, when the appraisal will be undertaken, how the standard of performance will be decided, what actions will be taken on the employees who could not meet the standard etc..
Employee equality Policy:
This is one more sensible issue in any organisation. This policy describes how the employees are going to be treated in the organisation. Are the employees will be treated at par in the sense of their position, religion, region they belong. Whether the management will treat the employees equally etc..
Human Resource Development Policy:
HRD policy will describe how the employees are going to get opportunity for any development process. How the company is going to accept the career planning options of the employees, how the succession planning process will be undertaken in the organisation etc..