Case Study Of Kensington Company

1000 Words4 Pages
INTRODUCTION Compensation and benefit is an important and associate discipline of human resources. Compensation includes not only salary, but also the direct and indirect benefits and rewards given to the employees by the company. Every organization uses compensation and reward program to decide the compensation. The people are most valuable resources of an organization. Compensation management is the important tool used by the companies to attract, keep and inspire their employees. Each and every employee in the company expects some thing as return from the company management. Actually compensation means employees present something to company and company returns some advantage to them. Today people all over the world are targeting some extra…show more content…
Ethen.There are two categories of employees are working in the company. Back office employees and real estate brokers are the two categories. The main functions of HR include hiring and recruiting, internal operations, agents and procedures, evaluation and support. The human resources department in Kensington Company is responsible for recruiting, interviewing and selecting new real estate back office employees, real estate brokers and rental agents. Real estate agents and rental agents are salaried employees and paid on commission. Real estate and rental agents are still being represented by the real estate agency. The employees working at office also must be recruited and hired to ensure they meet the company's professional standards. Each employee or agent that worked with the real estate company must understand the procedures and regulations that make the agency credible and professional in the real estate…show more content…
A company does not take interest to retain the employees who are not working aggressively and are a burden for the company. The real estate agents who represent the sales business, along with the back office workers, are evaluated on an annual basis by the owner of the agency with support from the human resources department. The main benefit of evaluation is to find and replace most valuable employees to suitable place. The evaluations ensure that employees, real estate agents, and rental agents are performing as expected to benefit the real estate agency. With huge opportunities, organizations are chasing very limited resources especially in terms of talent availability, strengthening compensation and benefit costs. The challenge for Human resource department is therefore huge in the Real estate sector. The main challenge faced by the human resource department is the talent management within the organization. The other challenges are change management and leadership development. Human resource department in a real estate agency basically and primarily set some professional standards. Important principal of HR policy is linking employee’s compensation to their performance and encouraging them to participate in the company mission and
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