Executive Summary
In recent years, for obvious reasons, the organization of the personnel acquires increased importance. The success of the professional activity of an economic entity largely depends on the competent management team, from the climate at the company’s level to ensure its profitability. The purpose of the assignment is to discuss high working performance through company’s reward management, career development, the participation of employees in enterprise profits, extensive learning and training, performance review, appraisal and employees’ involvement in the collective labor agreement.
Facebook, Inc. was chosen for the carrying out the assignment as a social service that helps people to communicate more proficiently with their friends, family and colleagues. The company develops technologies that make possible the sharing of information through the social chart, the digital mapping of people’s real-world social connections. Company’s reward management, career management, training and development processes were examined. To stay the world’s largest social network Facebook should be innovative all the time. In order to improve the company’s reputation and retrieve the leading position, human resource management should concentrate on ways to provide employees with more control over their schedules, environment, and/or work habits, for example, to offer them flextime or telecommuting.
Introduction
High performance is the cumulative rate of staff employment, including a quantitative component in the form of productivity and qualitative component in the form of satisfaction with the process of work and improvement of product quality. Any employer always wants to ensure that the work of his/her employees of the organization to be effective, and the employee is aimed at the same as helping to achieve the goals of the organization, he/she thereby meets his/her needs appropriate to these goals. In this area, great opportunities for successful cooperation between workers and employers are opened, as the former can satisfy their motivational expectations, and the latter can carry out motivational policies to staff (Lawler III and Boudreau, 2012).
The purpose of the paper is to discuss high working performance through company’s reward management, career development, the participation of employees in enterprise profits, extensive learning and training, performance review, appraisal and employees’ involvement in the collective labor agreement. Facebook, Inc. was chosen for the carrying out the assignment as a social service that helps people to communicate more proficiently with their friends, family and colleagues. The company develops technologies that make possible the sharing of information through the social chart, the digital mapping of people’s real-world social connections.
Literature Review
Efficiently and highly performed work is the leading factor in the growth of its productivity, reduction of production costs, constituting the basis for competitiveness of business entities of the market economy. Employers in order to improve the efficiency of production are intensively searching for various forms of activation of labor activity of workers, including the participation of employees in enterprise profits, extensive learning and training, performance review, appraisal and career development and employees’ involvement in the collective labor agreement (Noe, Hollenbeck, Gerhart and Wright, 2014).
Any self-respecting company integrates into investment activities tasks related to training its professionals and put on their implementation adequate financial resources. Costs for the development of this direction are always justified. They “work” for the future, enabling the company to provide highly qualified personnel. It is necessary to remember about the moral factors related to personnel management. It is important that the company has not only a good working atmosphere and qualitatively performed any work, but also a favorable moral atmosphere. Many managers are accustomed to the fact that the enterprise system is once and for all well-established process. The introduction of elements of modernization into it can only undermine the well-established structure of the work. Due to this incorrect view, the introduction of new working methods remains out of the scope of management’s attention, for example, such as the stimulation of work. It is meant to stimulate employees to improve the performance and quality through a variety of techniques, in particular, the awarding or moral encouragement (Bratton and Gold, 2003).
Training and Development is an organization’s procedure that ensures the reduction of unpredictability and learning or behavioral change takes place in prepared system. The major objective is to make sure the accessibility of a skilled and willing staff to a company. The quality of employees and their development through training and education are major factors in determining long-term profitability of a business. By developing the employees both professionally and personally, the organization benefits from this growth (Bratton and Gold, 2003).
Training of employees is a powerful process that affects the various components of the company. Directly on the scale, the process and the learning outcomes depend on: the current and future business results, current and future costs associated with the activities of the company and the level of risk in the activities of enterprises and organizations of incompetent personnel actions (Noe, Hollenbeck, Gerhart and Wright, 2014).
Work with the staff relates to the organization of work, because without providing a certain level of skillful workers, without their professionalism there is no need to count on any of its effectiveness in the workplace. An important element of the organization’s work is the division of labor, i.e., separation of types of work between employees, teams and other departments in the company. This is the starting point of the organization of work, which, based on the goals of production, is assigned to each employee and every department of their duties, functions, types of work, technological operations. Resolving this issue provides, along with the requirement of the most rational use of working time and the qualification of the worker, employee’s specialization such as to preserve richness of labor, does not allow its monotony, harmonizes the physical and mental exertion (Noe, Hollenbeck, Gerhart and Wright, 2014).
Performance appraisal is the procedure of attaining, analyzing and verifying information about the relative significance of an employee. The spotlight of this procedure is measuring and improving the actual employee’s work and also the future prospect of the employee. Its goal is to assess what an employee does (Lawler III and Boudreau, 2012).
Performance appraisals are important because (Lawler III and Boudreau, 2012):
1. Employees are often more engaged in their jobs and, therefore, perform better, when they understand what is expected, how to achieve performance goals, and how their performance is tied to the success of the business.
2. Clear expectations and performance standards, along with achievable goals, will help increase retention and improve morale.
3. They allow employers to align the employee’s goals with the organization’s business objectives.
4. They serve as a medium in which employees can receive and give honest feedback.
5. They allow employees to see that their employer and supervisor care about their development.
Providing efficient reward and career management helps not only in attracting, maintaining and motivating high-quality staff of Facebook, but also supporting the company’s strategy. These processes consider awareness of company’s employees own interests, principles, strengths and weaknesses; receiving information about job perspectives within the company; the identification of career objectives and the establishment of action plans in achieving career objectives; recognition of employees’ performance by the financial non-financial means (Lawler III and Boudreau, 2012).
Reward management is the method of recognition of employees’ performance by the financial non-financial means. The components of financial rewards are basic and performance pay and employee benefits, which together comprise total remuneration. The non-financial rewards are connected with the promotion, praise, achievement responsibility and personal growth. The crucial objective of the employee reward practices is to help attract, maintain and motivate high-quality staff (Chartered Institute of Personnel and Development, n.d.).
Thus, the formation of high performance working that meets the requirements of a market economy requires the analysis of the factors of its development. The main determinant of high performance system is carried out by technical base of production. The changes caused by scientific and technological progress in the technical basis of production and professional production characteristics of the labor force, on the one hand, and objectively conditioned the growth of workers’ claims to the organization of work, its content, conditions and payment – on the other, have actualized the problem of finding innovative forms of work organization, technology relevant parameters and characteristics of the labor force.
Discussion
Facebook Inc. is the best known social networking service and website, setting the standards that others try to follow. Facebook is the world’s largest social network, established in 2004 and operated by Facebook Inc. Facebook is largely a people-to-people (P2P) community, it can also act as a mobile, business-to-business (B2B), and business-to-consumer (B2C) community (Facebook, 2016).
Extensive Training, Learning and Development
HRM of Facebook places superior accent on a number of responsibilities and tasks such as replacement, orientation and conversion services to help employees get used to a new and unusual surroundings outside their own state. Thus, choice of human resources requires cautious assessment of the individual characteristics of the candidate and his/her partner. Training and development extends away from information and orientation preparation to include compassion training and area expertise that will allow the supervisor to realize cultural dissimilarities better. Managers should be protected from career growth threats, re-entry complications and culture distress. In order to balance the advantages and disadvantages of home country and host country assessments, performance evaluations should include the two causes of appraisal data (Noe, Hollenbeck, Gerhart and Wright, 2014).
The HRM of Facebook uses employees’ skills and abilities in order to identify environmental opportunities and get rid of threats. The company indulges in constant quality improvement via TQM and HR offerings like training, enlargement, counseling, etc. The utilization of people with unique capabilities creates unsurpassed competence in the area of social networking. The other feature of HRM is in decentralization of operations and reliance on self-managed teams with the purpose to deliver goods in tricky times. As a result of the new trends in HR, the HR manager should take care of people as resources, reward them fairly, and integrate their ambitions with corporate objectives through appropriate HR policies.
High Compensation Contingent on Performance
Facebook reward system has three behavioral objectives:
Membership behavior to hire and maintain a suitable number of qualified staff.
Compliance behavior to promote employees to follow office rules and undertake particular behaviors beneficial to the organizations without straight supervision or instructions.
Currently, Facebook actually is quite eye-catching place to work. For years, it has always been ranked first as either the most perfect place to work, or the company that has the highest satisfactory rate in terms of employee satisfaction compared to any other company. It employs innovative reward plans that identify employee contributions and grant improvements. HR policies are based on trust, honesty, equity and compromise. The motivation is in creation of terms, in which individuals are willing to work with enthusiasm, initiative and passion; creating for individuals the environment of feeling like winners (Smith, 2007). Facebook average salary is $106,312, median salary is $110,000 with a salary range from $41,600 to $200,000 which is an important difference and enough to tempt anyone. For example, a software engineer receives $110,500. Facebook salaries consist from government agencies and companies. Every salary related to a real job position. Add in extras and stuff even up more. Facebook’s average reimbursement increases to $131,200. Facebook most richly rewarded its programmers (Glassdoor, 2016). A programmer with 15 years of experience, according to experts, will be able to sell his shares on the Stock Exchange for $13 million.
The head of Facebook Mark Zuckerberg encouraged the placement of shares among employees. He was not mistaken, that this practice will increase their interest in improving business performance of the company. That’s why, in recent years the number of users of social networks has grown to almost 2 billion people.
Performance Review, Appraisal and Career Development
There is another company’s peculiarity in providing its employees with tables for work in the standing position (approximately 5-8 applications per week). Now, 1,300 company’s employees out of over 12,000 work in the standing position (STATISTA, 2016). Facebook’s management plan to launch cross-country tracks that employees will use it, not stopping work on the computer. That is because of recent reading published article about the increased risk of obesity during sedentary work (Smith, 2007).
The average rating given by a Facebook employee is 4.1 out of 5 and takes the second position in charts for tech companies (after Google). Also Facebook offers 4 months paid parental leave, reimbursement for daycare and adoption fees and $4,000 “baby cash” for the new arrival. Fair behavior of people and punctual redress of complaints would pave the way for healthy office relations. The worker gets 21 days of paid vacation, 11 days of holidays and sick days when he/she needs them.
Career management is the constant process of investing resources to attain person’s career objectives. It is not a particular event but a long-lasting process that is an essential for adapting to the changing demands of the 21st century economy. Facebook is not the exception from this process. Company’s employees build and create technology that basically changes how hundreds of millions of people around the world connect and share. Facebook development cycle is very fast, and it built tools to keep it that way. As technology is company’s passion, there’s no lack of it at Facebook. Data Engineer, IT Field Support Manager, IT Security Engineer, Sr. Linux Systems Engineer, Technology Partner on Billing and Revenue, Hyperion, Sales and Marketing, Security, etc. This list of jobs in It sector is extremely wide, as well as in other ones. Thus, it is important to name several pros and cons of career management.
Conclusion
Leading factor in increasing the role of continuing education and staff development in the post-industrial society is fundamental changes in the content of labor caused by the use of new techniques, technologies and methods of production activities. Development and training become necessary in the circumstances.
For years, Facebook has always been ranked first as either the most perfect place to work, or the company that has the highest satisfactory rate in terms of employee satisfaction compared to any other company. But some employees’ dislikes about their respective workplaces have appeared. They are in long working hours (9%), work/life balance (7%) and politics (5%). In order to improve the company’s reputation and retrieve the leading position human resource management should concentrate on ways to provide employees with more control over their schedules, environment, and/or work habits, for example, to offer them flextime or telecommuting, make meetings shorter and more efficient, create the room of relax and calm down, etc.
Facebook’s mission is aimed at ascertaining top talent and serving its employees gravely. That’s why company’s groups classify the smartest and most fervent persons and work hard to retain them efficient, fulfilled and cheerful. Facebook focuses on tackling the durable difficulties that will affect the company and planning the following great value to specify in the extended list of causes individuals should work here.
Recommendation
In order to improve the company’s reputation and retrieve the leading position, human resource management should concentrate on ways to provide employees with more control over their schedules, environment, and/or work habits, for example, to offer them flextime or telecommuting. Every person’s responsibilities outside of work are special, so customized schedules are a great way to improve employee satisfaction. Rigid deadlines are other key sources of many employees’ stress. That’s why managers can ease this stress by freeing up more time; for example, make meetings shorter and more efficient. As social relations is the crucial aspect of Facebook operation, it can give its employees the time for a single break, like creation of the room, where workers can relax and calm down, etc.
Works Cited
“Annual Report 2014.” Facebook. 2016. Web. 10 March 2016.
“Employee Reward.” Chartered Institute of Personnel and Development, n.d. Web. 10 March 2016.
“Facebook Salaries.” Glassdoor. 2016. Web.10 March 2016.
“Number of full-time Facebook employees from 2004 to 2015.” STATISTA. 2016. Web. 10 March 2016.
“Number of social network users worldwide from 2010 to 2018 (in billions).” STATISTA. 2016. Web. 10 March 2016.
Bratton, John and Gold, Jeff. Human Resource Management: Theory and Practice, 3rd ed. 2003. Palgrave Macmillan, Hampshire. Print.
Lawler III, Edward E. and Boudreau, John W. Effective Human Resource Management: A Global Analysis. 2012. Stanford Business Books. Print.
Noe, Raymond, Hollenbeck, John, Gerhart, Barry and Wright, Patrick. (2014). Human Resource Management. 9th ed. New York: McGraw-Hill Education.
Smith, John. “The Facebook Marketing Bible: 24 Ways to Market Your Brand, Company, Product, or Service inside Facebook.” 9 December 2007. Web. 10 March 2016.
Appendix A
Action Plan
