1. By Asst. Prof. Dr.Kevin Wongleedee
Operation Management
By Asst. Prof. Dr.Kevin Wongleedee

2. What are the three goals of Human Resource Management?…

3. What are the three goals of Human Resource Management ?
1. Finding the right people for the right job. (Recruiting)

4. What are the three goals of Human Resource Management ?
2. Enhancing employee performance and potential. (Training and Motivating)

5. What are the three goals of Human Resource Management ?
3. Retaining employee with the company as long as possible. (Compensation)

6. What is the meaning of compensation?
1. Money you get paid for doing your job.
2. Your wage or your salary.
3. Your benefit such as individual parking space or health coverage.
4. Your motivation to work hard. 5. 6.

7. Managing Compensation
What are goals of compensation policy?
The answer is…..

8. Goals of Compensation Policy
1. To reward employee’s past performance.
- To make sure that high performance, get high compensation.

9. Goals of Compensation Policy
2. To remain competitive in the labor market and reduce turnover rate.
- To make sure that the employees will not quit and get the job at our competitor firms.

10. Goals of Compensation Policy
3. To maintain compensation equity among employees.
- To make sure that the compensation is fair and square.

11. Goals of Compensation Policy
4. To control the compensation budget.
- To make sure that compensation is not over the budget.

12. Goals of Compensation Policy
5. To attract new employees
- To make sure that our compensation will draw best and brightest candidates to apply for a job with us.

13. What are the factors that affect the compensation policy?
There are internal factors and external factors that affect the compensation policy?

14. Internal Factors 1. Firm Compensation Strategy Example:
Mahidol International College policy is to pay high salary to lecturers in order to get the best and brightest lecturers from over the world.

15. Internal Factor 2. Worth of Job Example:
Manager who can speak English and can work oversea get higher compensation than others.

16. Internal Factor 3. Employee Relative Worth. Example;
Employee who has MBA from top university of USA gets higher compensation than employee who has BBA from Thai university.

17. Internal Factor 4. Employer’s Ability to Pay Example:
SSRU has a small budget and can pay only an average compensation.

18. External Factor 1. Labor market condition Example:
During the period of economic crisis, most firms can pay only a low compensation.

19. External Factor 2. Area wage rate Example;
Employee in Chiang Rai gets less compensation than employee in Bangkok.

20. External Factor 3. Cost of living Example:
During high inflation, firms tends to pay higher compensation to cover inflation and to maintain employee standard of living.

21. External Factor 4. Union Example:
The strong union can push the firm to pay higher compensation than the weak union.

22. What are important issues for expatriate?
(Expatriate is an employee from home country who is on international assignment.)

23. Important issues for new expatriate
1. How to get visa and work permit?
2. Do I get extra money to pay for relocation and housing?
3. Do I need language and culture training?
4. Will my wife get a job in foreign land?
5. Will my children get a good school?
6. Will I get higher salary for working as expatriate?

24. What are important skills that an expatriate must have?…

25. Important skills for an expatriate
1. Ability to seize big opportunity and create big profit.
2. Ability to manage a very decentralized organization.
3. Ability to understand global issues that related to the company.
4. Ability to work with different kinds of people.
5. Ability to adapt to new environment in short time.

26. Assignment
1. What is an expatriate? List ten issues that are important to new expatriate?
2. What are the three goals of HR management? Explain.
3. Define at least six meanings of compensation.
4. List and explain the internal and external factors that affect compensation policy with your own example for each.

27. Oral Test: Important skills for an expatriate
1. Ability to seize big opportunity and create big profit.
2. Ability to manage a very decentralized organization.
3. Ability to understand global issues that related to the company.
4. Ability to work with different kinds of people.
5. Ability to adapt to new environment in short time.