Managing surplus in the workplace refers to effectively handling situations where there is an excess of resources, such as employees, inventory, or funds, that may not be immediately needed. This could be due to various reasons, including changes in demand, technological advancements, or shifts in business strategies. Figure 01  Surplus happens when a producer sells items for a higher price than they expected to achieve. For example, if the sale takes place at an auction then the process can generate a bidding war that results in the item fetching a price much higher than the minimum reserve price. Let’s look at another example. You decide to go away for a weekend break and so you need to book a hotel room. You know that normally a room costs £100 a night. But the price when you check has doubled because there is a festival on that weekend and so demand for rooms has shot up. Now the room will cost you £200 a night. The same effect occurs with airline tickets, for example – canny cons

                                                                                                                           Figure 01 Performance reviews have come a long way since the days of paper files locked away in a cabinet. Today’s reviews are smarter, faster, more inclusive, and better. Using a performance management system is one of the best ways to update and overhaul your review process completely, but it doesn’t mean you have to change the heart of them. Instead, update your 2023 performance reviews to include what really matters, eliminate things that don’t matter anymore, and get the buy-in from managers, employees, and the executive board. Eliminating Bias                                                 Clip 01 Performance reviews are an essential part of any organization’s performance management process. However, they can often be biased and unfair, making employees demotivated and disengaged.   The key to eliminating bias in performance reviews lies in understandin

  “The set of distinct activities, functions, and processes that are directed at attracting, developing, and maintaining multinational enterprises' human resources” (Taylor, Beechler, & Napier, 1996, p. 960). Figure 01                                                                               Clip 01  Three Effective Tips for Successful IHRM Focus on hiring the apt talents Your first focus should always be on hiring the right talents for international human resource management. The costs and time involved in an IHRM recruitment program are much higher. So, it is always preferable to take time but hire the candidate who can do justice to the open position. It is okay to screen the candidates for multiple rounds, but the end decision you make has to be appropriate.   Never ignore the power of training Training often becomes a less significant factor in IHRM. With so many additional aspects involved, training often takes the back seat. However, that’s a big mistake and enter

  "Employee engagement is the act of creating a positive working environment in which employees feel willing and able to perform their best work. This means that employee engagement is more than just a happy or satisfied workforce. Whilst happiness is an important factor in employee engagement, to create a truly engaged team, elements such as communication, collaboration and wellbeing all need to be addressed to realize ambitions"   Why is employee engagement important? Employee engagement is crucial for several reasons. Firstly, engaged employees are more committed to their work and demonstrate higher levels of productivity and performance. They are motivated to go above and beyond, resulting in better outcomes for the organization.   Secondly, engaged employees are more likely to stay with the company, reducing turnover rates and associated recruitment costs.   Thirdly, employee engagement fosters a positive work environment, leading to higher morale, collaboratio

"Learning and development is a systematic process to enhance an employee’s skills, knowledge, and competency, resulting in better performance in a work setting. Specifically, learning is concerned with the acquisition of knowledge, skills, and attitudes. Development is the broadening and deepening of knowledge in line with one’s development goals."                                                                                                  Figure 01 The goal of learning and development is to develop or change the behavior of individuals or groups for the better, sharing knowledge and insights that enable them to do their work better, or cultivate attitudes that help them perform better (Lievens, 2011). Learning, training, and development are often used interchangeably. However, there are subtle differences between these concepts, which are shown in the table below. Concept                      Description    Learning The acquisitio