2.1 Flashcards
what is human resource management?
HRM is a broad term used that refers to the administration of a company’s workforce. This involves diverse tasks such as recruitment, selection, training, performance evaluation, motivation, compensation, and employee retention.
what is the HRM objective?
HRM’s ultimate objective is to maximize the effective use of an organization’s workforce.
what is the overarching role of HR?
HR managers play a crucial part in ensuring the appropriate recruitment of suitable individuals in optimal numbers, assigning them to suitable positions, all at the right timing.
what is human resource planning?
Human resource planning can be defined as the management process of anticipating and meeting an organization’s current and future staffing needs. Basically, finding a balance between having to many employees (high cost) or to few employees (low productivity)
what are the two things HRP need to think about?
Before HR starts with its plan, they need to take into account external and internal factors that might affect their planning.
what are some external factors that may affect HRP?
Technological change – Improvements in ICT means that more people can work from home, meetings, recruitment and online training is more available and accessible. Also, improvements in infrastructure can help people to commute to their jobs easily.
Goverment regulation- changes i n the minimum wage, hourly working hours, health and safty laws ect.
Demographic change – retirements, migration, gender equality, aging population or emerging population are all demographic factors. Organizations should understand these factors to adapt their HR plan accordingly.
Social trends – changes in society such as the role of women, single parents, work-life balance, time for leisure. All these changes will affect the HR plan of an organization.
The state of the Economy – The economy can experience either a recession (less work available) or a “boom” (more work available); both factors will affect the HR planning, accordingly.
Changes in education – people getting “more or less” education; different degrees or apprenticeships, “more or less” requirement to start college or university; are factors that will change the demographics of education and hence affect the HR planning.
Labour mobility – to what extent labour could change to different locations (geographical mobility) or flexibility on changing jobs (occupational mobility). Any of these two factors are also affected by: relocation costs, family, the cost of leaving somewhere else, fear of the unknown, language and cultural differences. How people react to these mobility will affect HR planning.
what are some internal factos that affect HRP?
Changes in business organization – Any change on the organization’s objectives will affect the HR planning. This can also apply to M&A.
Changes in labour relations – any changes that happen inside the organization such as the creation of unions or the Union’s loss of power will affect HR planning and how the organization will react to that. Disagreements between employees can also affect the planning, if some employees suddenly decide to leave the organization.
Changes in business strategy– depending on the market, changing in an organization’s strategy is very common, based on the fact that organizations should always adapt to change that will affect HR planning.
Changes in business finance – an organization’s financial situation is key for HR planning. If for example, the organization can’t afford to hire more people or worst, can’t afford to keep all the employees, that will have a huge impact in HR planning. Paying sudden increases in pensions or income taxes will also increase the costs for the company.
what has been happening in working environments?
Working environments have been changing over the past 50 years. For example, social trends such as work-life balance and COVID-19 have influenced the job marked lately.
what are some examples of things that chnage work enviroments?
Some other factors that might change the working environment include; increased migration of potential employees, changing educational opportunities, aging population, move from public sector to private sector, increase female participation in the workforce; amongst others.
what is meant by chnaging work patterns?
This refers to the different jobs that people want as well as what the industry needs or demands.
Organizations, sectors and Governments do their best to attract the employees needed for the job. However, people’s preferences might affect this process since nowadays people tend to be more selective on what they want.
what is meant by chnages in work practises?
This has to do with the change in work routines since there seem to be a greater demand in more flexible working time. This refers to arange of employment options designed to help employees balance work and home life.
There seem to be a decline in full-time work and permanent contracts in exchange for an increase in part-time work, temporary work, flexitime, freelance, teleworking, casual Fridays , 3 day weekends, shift swapping, job sharing, homeworking and the gig-economy (i.e. Deliveroo, uber eats, etc).
These practices changed even more after COVID-19.
what is meant by chnages in work prefrences?
how employees want to adapt their work to lifestyle changes (i.e. having children, wanting to achieve more professionally, etc.)
what are some examples of changes in work prefrences?
Career breaks – when the employee wants to take some time off to do another activity that might or not be related to his/her current job. This must be formal (i.e. a sabbatical year) or informal, in which case the employees might not come back to work.
Job share – two or more employees decide to share the job, so they have more time for other activities.
Study leave – when the employee is granted time off work to pursue more studies (i.e. MBA, CIMA, ACCA are normally cases that organizations even finance!).
This could be paid or unpaid. If it’s paid the employee has a compromise to go back to work as soon as his/her studies finish and normally this is stipulated in a contract.
Downshifting – when an employee gives up a managerial position or a very will paid job to either try a new career or explore another area of interest that will obviously pay less.
why is HR important for innovation?
an organization that is committed to innovation has to have a clear and strategic HR plan since innovation is about being creative and it obviously comes from people!
what is the defition for innovation?
Innovation is commonly described as”the commercially successful exploitation of ideas”.
