2.1 - Introduction to human resource management Flashcards
Human resource management (HRM)
The management function of deploying and developing people within an organisation to meet its business objectives
Functions of HRM (name 4)
- workforce planning
- recruitment and selection
- training and development
- performance management
- pay and remuneration
- discipline and grievances
- employee welfare
Workforce planning
The process of anticipating and meeting an organisation’s current and future staffing needs
5 problems with lack of HRM (and explanation)
- Recruitment: higher costs of recruitment, induction and training
- Resources: directed on solving problems not achieving organisational structure
- Reservation: lower morale, higher uncertainty
- Returns: lower levels of productivity and profits
- Reputation: poor corporate image
Internal and external factors of HRM (5)
- Demographic change
- Change in labour mobility
- Immigration
- Flexitime
- Gig economy
Examples of demographic change that affects HRM (name 4)
- net birth rate: high net birth rate - larger supply of HR
- net migration rate: positive - increase in HR supply
- retirement age: the later - the greater available pool of HR
- women entering/returning to workforce: boost supply of HR, especially as part time
- ageing population: long term - shrinking supply of HR
Impact of aging population on HRM (immediate, short-term, long-term)
- increasing shortage in labour supply
- firms will need to appoint and retain older employees, even keeping them past retirement age
- women and part-time workers will be more sought after to provide workforce flexibility
Limitations on geographical mobility (name 3)
- ties to friends and family
- relocation cost / cost of living in new area
- fear of the unknown
- language and cultural differences
Limitations on occupational mobility (name 3)
- attributes of workers (education, qualification, experiences etc.)
- employees are highly specialised
- mature workers who tend to be less willing to take risks
- discrimination
Why does migration occur for employees? (name 4)
- pay and remuneration
- employment opportunities
- seasonal factors
- domestic instability
- high living standard
Flexitime
System where staff determine their working hours by subject to them getting their work completed by set deadlines
* homeworking
* teleworking
Teleworking
Working away from the office by using electronic forms of communication
Homeworking
When employees work from their own homes instead of going into the office
Advantages of teleworking and homeworking for employees (name 4)
- job opportunities
- suitable for those who have family commitments
- flexible working hours
- little/no communication = reducing time, money and stress
- autonomy in decision making
- possible income tax allowances
- affordable
Disadvantages of homeworking and teleworking for employees (name 4)
- reliance on use and reliability of ICT software and hardware
- workers often exceed contracted working hours
- social isolation and boredom
- less job security and trade union representation
- distractions at home
- lack of authentic training
Advantages of teleworking and homeworking for employers (name 4)
- reduced overheads for renting prime locations
- flexible and extended working hours
- can adjust for peak and off-peak trade
- continuity of services from those hiring workers with dependents
- lower rates of absenteeism
- flexibility to deal with working time directives (laws)
Disadvantages of teleworking and homeworking for employers (name 4)
- set up costs can be high
- recruitment processes must be tightly controlled to ensure employees are self-motivated
- management, monitoring and control are more difficult
- technological breakdowns can cause disruption
- not always possible due to lack of working space at home or lack of security for sensitive data being held at home
Gig economy
Refers to labour markets where workers are typically on short-term, flexible, temporary contracts
* provide services on-demand or on-call
* workers do not have permanent employment contracts
Benefits of gig economy (name 3)
- flexibility for workers, businesses, consumers
- suit needs of workers, providing satisfaction
- lower costs
- contractors and freelance workers make extra income
- more control of work-life balance
Limitations of gig economy (name 3)
- lack of regular income levels (job security)
- lack of clear carreer path
- independent contractors are expected to file their own tax returns which is a bureaucratic task
- burnout is common due to multiple jobs
- risk to reputation if outsourced freelance contractor procides poor quality
Reasons for resistance to change (4)
- self-interest
- low-tolerance
- misinformation
- different points of view
