4. Human Resoucrses Flashcards
HR objectives
Specific Goal/target of relating to the management and performance of human resources in a business
What is human resource manage?
With design, implementation and maintenance of strategies to manage people for optimum business performance
Aspects of human resource management
Workforce planning
Recruitment and selection
Training
Talent development
Engagement and involvement of employees
Managing diversity
Common HR objectives
Ensure human resources are employed cost effectively
Make effective use of workforce potential
Operate, effective talent development
Maintain good employer and employee relations
Internal influences on HR objectives
Corporate objectives
Operational strategies
Marketing strategies
Financial strategies
External influences on HR objectives
Market changes
Economic changes
Technological changes
Social changes
Political and legal changes
Soft, HRM
Treats employees as the most important resource in the business and a source of competitive advantage
Flatter organisational structure
Democratically the ship
Two-way, strong communication
Employees are empowered and encouraged to seek delegation
Hard, HRM
Treat employees simply as a resource of the business
Minimal communication from top down
Little empowerment or delegation
Taller, organisational structures
Autocratic leadership
Labour turnover
Percentage of the workforce employees that leave a business within a given period usually a year
Key measures of HR performance
Labour turnover, and staff retention
Labour productivity
Absenteeism
Labour turnover formula
Number employees, leaving during period/average number employee period. X 100.
Problems of high staff turnover
Higher costs
Increased pressure on remaining staff
Disruption to production
Factors that affect staff turnover
Type of business
Paying rewards
Working conditions
Competitive to actions
Opportunities for promotion
Economic conditions
How to improve staff turnover
Effective recruitment and training
Provide competitive paying of incentives
Job enrichment and reward staff loyalty
Labour productivity formula
Output per period in units/number of employees at Work
Key factors influencing labour productivity
Quality of fixed assets
Skills, ability of motivation of workforce for
Methods of production
External factors
Ways to improve labour productivity
Measure performance and set targets
Streamline production processes
Invest in capital equipment
Invest in employee training and improve working conditions