MSG Team's other articles

10814 Pros and Cons of Money Markets

We already know that money markets are amongst the biggest sectors within the fixed-income securities market. The money market is widely used by players such as banks, mutual funds, and even individual investors because it is a great alternative to park funds in the short term. In this article, we will have a closer look […]

11230 Self-Checkout Apps: The Future of Retail

The business of retail has always been evolving with technology. Companies which have been at the helm of technology have dominated the retail sector. Consider the case of Wal-Mart which reached new heights in retail thanks to pioneering the RFID based inventory system. Similarly, Amazon has been using its technological advancement to give tough competition […]

9182 Entrepreneurial Finance

Description This article discusses the various forms of financing for new ventures. It is indeed the case that any new venture would need capital and more often than not, entrepreneurs need significant capital for launching their ventures. Further, this article also discusses how Angel Investors have become important in recent years and examines how buyouts […]

11424 Strategies to Improve Employee Relations

For the organization to perform better it is important that the employees are comfortable with each other, share a good rapport and work in close coordination towards a common objective. People feel responsible and motivated to do good work and enjoy their work rather than taking it as a burden. It is important that the […]

9780 Brand Identity vs Brand Image

  Brand Identity Brand Image 1 Brand identity develops from the source or the company. Brand image is perceived by the receiver or the consumer. 2 Brand message is tied together in terms of brand identity. Brand message is untied by the consumer in the form of brand image. 3 The general meaning of brand […]

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  1. Manpower requirements- The very first step in staffing is to plan the manpower inventory required by a concern in order to match them with the job requirements and demands. Therefore, it involves forecasting and determining the future manpower needs of the concern.

  2. Recruitment- Once the requirements are notified, the concern invites and solicits applications according to the invitations made to the desirable candidates.

  3. Selection- This is the screening step of staffing in which the solicited applications are screened out and suitable candidates are appointed as per the requirements.

  4. Orientation and Placement- Once screening takes place, the appointed candidates are made familiar to the work units and work environment through the orientation programmes. placement takes place by putting right man on the right job.

  5. Training and Development- Training is a part of incentives given to the workers in order to develop and grow them within the concern.

    Training is generally given according to the nature of activities and scope of expansion in it. Along with it, the workers are developed by providing them extra benefits of indepth knowledge of their functional areas.

    Development also includes giving them key and important jobs as a test or examination in order to analyse their performances.

  6. Remuneration- It is a kind of compensation provided monetarily to the employees for their work performances. This is given according to the nature of job- skilled or unskilled, physical or mental, etc. Remuneration forms an important monetary incentive for the employees.

  7. Performance Evaluation- In order to keep a track or record of the behaviour, attitudes as well as opinions of the workers towards their jobs. For this regular assessment is done to evaluate and supervise different work units in a concern. It is basically concerning to know the development cycle and growth patterns of the employeesin a concern.

  8. Promotion and transfer- Promotion is said to be a non- monetary incentive in which the worker is shifted from a higher job demanding bigger responsibilities as well as shifting the workers and transferring them to different work units and branches of the same organization.

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