HR and Financial Management

HR AND
FINANCIAL
MANAGEMENT

Table of Contents
REFERENCE............................................................................................................................................7
Books and journals............................................................................................................................7

Motivation is the crucial function that is played by the HR department in order to
maximize the operational efficiency of the business and achieve satisfaction of the
employees. The project shall be highlighting the human resource department of the company
and its significance for the business. It shall also be reflecting motivation and its theories that
are applied by the business with respect to boost their morale and fulfill the organizational
objectives of the business. Lastly it shall be discussing the steps taken in motivating the
workforce with respect to an organization and how it ensures the success of the organization.
HR stands for the human resource which is a department in every business
irrespective of the size or business operations that are being conducted. It facilitates several
functions like recruitment, selection, training, development and administering the employee-
benefit programmes (Bratton and Gold, 2017). Its major role is to manage and motivate the
employees of the company such that they direct the activities to the path of success and
achievement of the goals of the organization. They also play prominent role in the company
in terms of change management and its easy acceptance by the employees, this is done to
foster innovation, uniqueness and competitive advantage among the competitors in the
industry.
Motivation is derived from the word “motive” which means the goals, needs, wants
and desires. Such goals in reference to the business can be both personal as well as
organizational. The integration of both types of goals ensures success in the company (Yusof,
Said and Ali, 2016). Motivation can be referred to as influencing and guiding the actions and
behaviors of the employees in order to achieve the organizational objectives of the company.
It is a driving force that builds morale and enthusiasm in the employees to perform better and
increase the operational efficiency. It also maximizes their level of satisfaction such that and
hence retains the employees with the company.
Motivational activities are of major significance to the business as it performs some
crucial roles like personnel management, change management, employed retention, employee
satisfaction, better relations between management and workers, quality management and
maximize the productivity of business. It can be used for achievement of both personal and
organizational objectives which satisfies the needs of employees as well as organization and
can be beneficial for the growth of both (Teo and etal., 2016). There are various techniques
that are used by the HR manager to maintain the motivational level in the employees like
training, feedbacks, grievance redressal and employee rewards and recognition. This
maintains the energy level, commitment, flexibility and creativity in their operations.
Maslow`s need hierarchy theory of motivation is the most famously used theory in the
management which is postulated by Abraham Maslow. The theory is based on the concept
that employees in an organization the employees stay motivated to perform the business
operations only when their personal needs and goals are fulfilled. The theory suggests that the
needs of an individual starts from low level and goes up to higher levels of desires (Allen and
etal., 2016). The employees need begin from the physiological requirements that are
necessary for the survival of an individual like food, clothing and shelter. After the
fulfillment of basic necessities the employee reaches to the second level of need hierarchy
which is safety and security of income, employment and protection against any threats that
could arise. The next is the need of belongingness and love which can be established through
relationships and association with the family, friends, colleagues and society. At the higher