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10. The Dynamics of Cultivating Loyalty: Strategic Human Resource Management as the Keystone of Employee Retention within the Evolving Corporate Landscape of Sri Lanka

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1         Introduction Human resource management (HRM) continues to place a strong emphasis on employee retention, especially in developing nations like Sri Lanka. Elevated employee attrition rates may result in amplified expenses for hiring and onboarding, forfeiture of organizational expertise and client connections, decline in team spirit, and reduced output   (Ayupp & Then, 2010) . This report explores how HRM in Sri Lankan firms effectively contributes to employee retention.   Source (Morella-Olson, 2021) 2         HRM and Employee Retention Retention of employees can be improved with effective HRM techniques. Employers can mostly keep workers by offering competitive pay, a great workplace, job security, incentives, organizational culture, performance review processes, chances for professional advancement, and supportive supervisors   (Ton & Huckman, 2008) . Source (TED Institue, 2...

09. Crafting Corporate Identity: The Pivotal Role of Human Resource Strategies in Sculpting Employer Branding in the Sri Lankan Business Arena

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1         Introduction The idea of employer branding has grown in importance in today's economic environment for companies looking to attract and retain top talent. (Backhaus & Tikoo, 2004) . In the context of Sri Lanka, economic growth and increased commercial activity has created intense competition for skilled human resources. This report discusses how Human Resource Management (HRM) practices contribute to crafting a compelling & persuasive employer brand in Sri Lanka. Source (Bhargav, 2021) 2         Employer Branding and HRM Employer branding is the method of presenting a business to its intended customer base as the employer of choice while coordinating the organization's public image with its employee value proposition (EVP). By creating and enforcing rules that foster a healthy work environment, offering competitive compensation packages, professional development opportunities, and respectful le...

08. Embracing Experience and Wisdom: Strategic Human Resources Management for the Aging Workforce in Sri Lanka's Corporate Landscape

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  1         Introduction Companies worldwide must pay attention to this global issue of an aging workforce. Because of the low reproduction rates and steady rise in life expectancy, Sri Lanka is also confronted with this problem (Department of Census and Statistics, Sri Lanka, 2012) . Effective human resources management (HRM) strategies are needed to harness the potential of older employees. This report presents evidence from Sri Lankan companies' efforts to manage their aging workforce effectively.   Source (Montgomery, 2023)   2         Navarasingham’s (2017) Aging Workforce Study According to Navarasingham (2017) study on the management of Sri Lanka's aging workforce revealed that whereas some organizations consider older workers as trustworthy, experienced, and devoted, others see them as less innovative and teachable. The report underlines how important it is for HR to put policies in p...

07. The Role of Human Resources in Enhancing Employee Financial Wellness: Evidence from Sri Lankan Companies

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1         Introduction In order to boost efficiency, the human resources management is responsible for more than just finding the best candidates. The ability of a person to meet all of their present and future financial obligations, feel confident about their financial future, and be able to make decisions that allow them to live life positively is one part of employee wellbeing that is becoming increasingly important. This is known as financial wellness (Kim, et al., 2003) . In Sri Lanka, some organizations have recognized the importance of this aspect and are involving HR in improving employee financial wellness. This report highlights such extensive efforts in Sri Lankan companies. Source (Pierce, 2022) 2         The Importance of Financial Wellness for Employees Stress associated with finance has an impact on workers' general well-being and productivity at work. Studies reveal that workers experiencing sign...

06. Deciphering the Complex Dynamics of Human Resource Management in Sri Lankan Multinational Corporations: A Study of Prevailing Challenges and Emerging Opportunities

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1.           Introduction One important factor influencing overall corporate growth and success in Multinational Corporations (MNCs) in Sri Lanka is Human Resource Management (HRM). Nonetheless, a number of opportunities and difficulties unique to the Sri Lankan environment affect HRM  (Jackson, et al., 2014) .  2.           Challenges in HRM for Sri Lankan MNCs Managing cultural diversity in MNCs in Sri Lanka is one reported obstacle to HRM   (Fernando, 2011) . As MNCs employ diverse nationalities, the role of HR in minimizing cultural clashes and promoting a harmonious work environment is critical. Second, according to a study by Pathirage et al. (2008), Sri Lankan multinational corporations' HR departments struggle to draw and keep qualified workers as a result of growing domestic and international rivalry.   Source (Unilever, 2022) 3.     ...

05. The Role of Human Resource Management in Fostering Corporate Social Responsibility: A Closer Look at the Telecom Sector

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  1         Introduction Human Resource Management (HRM) crucial to an organization's expansion and success. Specifically, its expansive roles in implementing Corporate Social Responsibility (CSR) are notable   (Jabbour & Santos, 2008) . CSR, implementing a self-regulatory model encourages businesses to take social responsibility for their stakeholders and the general public effectively. This report focuses on the role HRM plays in exemplifying CSR in Sri Lankan companies.   2         HRM and CSR In recent years, there has been a rising significance for HRM and CSR integration. (Kim & Scullion, 2013) . HRM facilitates the adoption of CSR by motivating employees to take part and adapt to the CSR culture. Nevertheless, HRM's responsibilities extend beyond execution; they also include creating CSR policies that work and enhancing strategies for communication.   Source (De Stefano, ...

04. Adapting HR Practices for Modern Workforces: An Exploration of Key Strategies and Trends

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  1         Introduction Considering the successive changes in the job market, advancing employee goals, and advancement of innovation, human resource management has required a noteworthy upgrade. This article outlines some of the pivotal HR methods pertinent in our modern context: 2         HR methods 2.1        Embracing Remote and Flexible Work The COVID-19 pandemic’s impact on job arrangements and has accelerated the require for flexible work plans and remote work procedures. These strategies not only support work-life balance but they too improve employee satisfaction and efficiency.  According to the  Rahman, et al., (2020) 54% of employees whose occupation’s, the most part be done from home would like to proceed working remotely after the pandemic subsides, highlighting the significance of remote and flexible work .   Source (The Economic Times, 2022...