Rasika Gardihewa - MBA Batch29 - HRM

  Introduction: In recent years, Sri Lanka's banking industry has faced unprecedented challenges due to the economic turmoil gripping the nation. As the country grapples with financial instability, the banking sector has witnessed a concerning trend: a significant rise in employee turnover. This phenomenon raises important questions about the industry's resilience and the well-being of its workforce. The phrase “churn and burn” is commonly used to describe an industry’s high turnover rate. Based on recent data, it’s appropriate to use that phrase when describing the financial services industry. According to a CAL Research Report, the Private Commercial Banks witnessed a 67.8% turnover rate in the year 2022 when compared with the previous year, with the number being close to 3000 employees, which is one of the highest among all industries. ( CAL Research. 2023, March 14) Understanding the Factors: Several factors contribute to the surge in employee turnover in Sri Lanka's ba...

Introduction:    In the fast-paced, high-pressure world of contemporary workplaces, a paradigm shift is underway. Companies are recognizing that fostering a mentally healthy work environment is not just a moral obligation but also a strategic imperative. The emerging theme in Human Resource Management (HRM) circles is clear: Employee Well-being and Mental Health Support. ( The Chartered Institute of Personnel and Development (UK). 2021) Traditionally, the focus of HRM was on tasks like recruitment, training, and performance evaluation. However, a deeper understanding of employee needs has led to a revolution in workplace policies. Mental health, once a topic relegated to hushed conversations, is now taking center stage. ( Brooks, R. (2021). What is Mental Health and Mental Illness?  The terms "mental health disorder" and "mental illness" can apply to a wide variety of conditions that affect mental wellbeing, from stress, anxiety, depression and eating disorders thro...

Introduction: In today's fast-paced global economy, workplace diversity has become more than just a buzzword—it's a key ingredient for fostering innovation, creativity, and overall business success. One of the most significant aspects of workforce diversity is the presence of multiple generations working side by side. This diverse blend of experiences, perspectives, and skills can create a dynamic and enriching work environment. In this blog post, we'll explore the importance of workforce diversity and delve into the nuances of generational differences in the workplace. Understanding Workforce Diversity and how can inclusion be achieved: Workforce diversity encompasses a variety of differences among people in an organization. These differences can include race, gender, age, sexual orientation, physical abilities, ethnicity, and more ( Saxena, A. 2014).  Embracing these diversities leads to a more inclusive workplace, fostering a sense of belonging and encouraging collaborat...

 Introduction: In the dynamic landscape of Human Resource Management (HRM), striking a balance between remuneration and employee productivity is a challenge faced by organizations globally ( Expert360, 2023) . This blog post delves into this critical HRM theme, integrating experiential learning and theoretical insights from our module. Let’s explore this intricate balance further, backed by rich multimedia content. Theoretical Foundations: Integrating Expectancy Theory ( Performance-based rewards) Expectancy Theory ( ScienceDirect, 2011) , a cornerstone in understanding employee motivation, asserts that individuals are driven to perform when they believe their efforts will lead to recognition and rewards. Expectancy theory suggests that individuals are motivated to perform if they know that their extra performance is recognized and rewarded. Consequently, companies using performance-based pay can expect improvements. Performance-based pay can link rewards to the amount of products ...