3.6

Question 1

What is soft HRM?

Answer 1

Where staff are the most valuable asset for a business and used to maximise potential

Question 2

What is hard HRM?

Answer 2

Where staff are treated as a resource to be moved efficiently and cheaply as possible

Question 3

Employee engagement and involvement?

Answer 3

Employees are working towards the business’ objectives, allows them to feel valued

Question 4

Talent Development?

Answer 4

Identifying employees with star potential and seeking to develop them

Can be achieved by monitoring performance regularly

Question 5

Training?

Answer 5

Developing or providing new skills to employees

Question 6

Diversity?

Answer 6

Ensuring the workplace is ethical/legal when it comes to issues of race, age, gender etc

This is important to develop a good brand image through fairness

Question 7

Alignment of values?

Answer 7

Ensuring employees believe in the ethos and culture of the organisation

Could be achieved by treating everyone equally

Question 8

Number, skills and Location of employees?

Answer 8

This means the business has the right employees in the right jobs, successfully completing jobs

Question 9

Why set Human Resource Objectives?

Answer 9

 To ensure the business adapts to changing customer views on social changes such as trend/design, require training.
 Ensure equality within the business e.g. diversity to maintain corporate image
 To develop the workforce
 Satisfy employees
 Attractive place to work for future employees

Question 10

Corporate Objectives?

Answer 10

Overall goals of the business

Question 11

Political and Legal Influences?

Answer 11

Government setting new employment laws

Question 12

Economic Influences?

Answer 12

If there is a recession

Question 13

Social Influences?

Answer 13

Demographic, age, gender, ageing workforce

Question 14

Competition?

Answer 14

What do they offer in terms of pay, conditions? If they offer better you may lose potential quality employees

Question 15

Labour turnover formula?

Answer 15

Number of Staff Leaving / Average Number of Staff

×100

Question 16

Labour Retention formula?

Answer 16

Number of employees employed for 1+year / Average Number of Staff

×100

Question 17

Labour productivity formula?

Answer 17

Output per period / Number of Employees

Question 18

Employee Costs of Turnover formula?

Answer 18

Employee Costs / Turnover (Revenue)

×100

Question 19

Labour Cost per Unit formula?

Answer 19

Labour Costs / Number of Units

Question 20

Labour Turnover measures?

Answer 20

Percentage of people leaving the business over a period of time

Question 21

Labour Retention measures?

Answer 21

Extent to which a business holds onto its employees

Question 22

Labour Productivity measures?

Answer 22

Number of products each employee is producing over a period of time

Question 23

Employee Costs of Turnover measures?

Answer 23

Total employee costs as a percentage of revenue received

Question 24

Labour Cost per Unit measures?

Answer 24

How much the labour costs are to produce one unit