Lincoln Electric Essays

Lincoln Electric Essays-47
The bonuses are then distributed to the members of that group according to their quantified relative performance on the semi-annual merit rating based on factors like idea generation, quality, reliability, dependability and output (Milgram & Roberts 1995).

The bonuses are then distributed to the members of that group according to their quantified relative performance on the semi-annual merit rating based on factors like idea generation, quality, reliability, dependability and output (Milgram & Roberts 1995).Employees are closely bound to the organization through a long-term stockpurchase plan as part of their remuneration making them entrepreneurs at their workplace (Bjorkman & Galunic 2003).

It emphasizes contingency fit between HR activities and the organization's stage of development, an organization's internal structures and its external environment like clients, suppliers, competition and labour markets (Redman and Wilkinson 2009).

HR policy should be minted by the appropriate context of individual employees and therefore support the overall competitive strategy.

Aligning HRM practices to strategies can enable companies to create potential competitive advantages (Schuler and Jackson 1987 in Redman and Wilkinson 2009).

The best fit approach is also subject to sever criticism.

HRM strategy should be designed and applied to support the given corporate strategy (Lawler 1995).

Lincoln Electric Essays Sourcing A Book In An Essay

The "best-fit" approach questions the universality assumption of the best-practice perspective.It is based on developing HRM policies according to business strategy.Strategy involves planning future activities, performances objectives, and policies towards reaching the corporate aims.In the US, Lincoln employs a highly compensated piece-work system which is linked to individual employee performance based on a multitude of work-related factors (Bjorkman & Galunic 2003).The reward system is able to motivate employees for achieving commitment through a remuneration which is at the top of its industry (Bjorkman & Galunic 2003).Examples are a sophisticated trainee program for sales and engineering trainees, constant vocational trainings for experienced workers and regular work certification programs (Bjorkman & Galunic 2003).These actions aim at supporting and maintaining the superior efficiency objectives creating core competences compared to industry rivals and a competitive advantage.The best practice approach claims that certain bundles of HR activities exist which universally support companies in reaching a competitive advantage regardless of the organizational setting or industry (Redman and Wilkinson 2009).Best practice models imply a close connection between HR practices and organizational performance and are often associated with high commitment management (Paauwe & Boselie 2003).Firstly, when implementing best practice standards organizations run risk of introducing mutually prohibitive combinations like team working and compensation based on individual performance resulting in a deterioration of employee collaboration through overexaggerated competition (Delery 1998 in Redman and Wilkinson 2009).Secondly, high commitment management systems are generally a complex undertaking requiring large inputs of planning and top level management commitment.

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