1.4 managing people Flashcards
what is an asset?
- a resource with economic value with the expectation it will provide future benefit
in what way are staff a cost?
- wages
- pensions
- holiday pay
- maternity
- training
in what way are staff an asset?
- generate income
- can bring new ideas (innovation)
what is flexible working?
- options offered to employees in terms of working time, location and pattern of working
what are example of flexible working?
- part time
- term time
- job sharing
- from home
what are benefits of a flexible workforce?
- more motivated
- low rate of assentation
- saving on costs
what are drawbacks of flexible workforce?
- potential loss of customers
- more administrative work
- lower employee productivity
what is multiskilling?
- where staff are able to carry out a variety of tasks rather than specialise
how is the way we work changing rapidly?
- increase in part time
- more women seek work
- ageing population
what are different recruitment methods?
- internal
- external
what is internal recruitment?
- jobs given to staff already employed by the business
- involves promotion and reorganisation
what is external recruitment?
- job centres
- job advertisements
what are advantages of internal recruitment?
- cheaper and quicker
- people already familiar with the business
- provides opportunity for promotion
what are disadvantages of internal recruitment?
- limits number of applicants
- new ideas can be introduced
what are advantages of external recruitment?
- more specialised
- mew ideas can be introduced
- large number of potential employees
what are disadvantages of external recruitment?
- longer process
- more expensive
- might not find best candidate
why do firms train staff?
- to become productive as quickly as possible
what are advantages of training staff?
- increased productivity
- improved quality
- reduces faults/waste
- increased motivation
- competitive advantage