Chapter 1: Nature of HR, Strategic HR and Workforce Planning Flashcards
For who is HRM important
It is important for organisations, employees and managers
Why is HRM important for Managers
Keep employees motivated
Avoid performance deficits
Training/Development of employees
Why is HRM important for Organisations
Implementation of company’s strategy
Improvement of performance and profitability
Compliance with laws and legislation
Why is HRM important for employees
Source of employee development
Legal part of employment (healthcare, vacations)
Go-to for concerns
What is the definition of employees
The individuals who perform work in return for financial compensation for an employer
Give examples of employees
Trainees, Interns, full-time workers, part-time workers, freelancers, subcontractors…
What is Line Function
Line function is for Managers, they are tasks that are crucial for primary objectives
What are the tasks in Line funtion
Employee Placement (assigning employees to the right roles)
Onboarding
Training
Performance
Teamwork
Workplace Atmosphere and Security
What are the differences between Management/Line functions and Operational functions
Management/Line functions => Managers: Staff selection, Assessment and Development, performance evaluation
Operational functions => HR Department: Guidelines and policies, Staff management and administration
What are Non-Strategic Actions
They are random and inefficient to achieve goals: Roundabout routes, Uncoordinated Multiple routes, Stop and Restart
What are Strategic-Driven Actions
They are clear, structured and targeted efforts: alignement, efficiency, consistency
What is SWOT Analysis
Internal Analysis: Strengths and Weaknesses
External Analysis: Opportunities and Threats
What is the steps of the Strategic Approach in HRM
1) Have a strategy for the business organisation
2) Conduct a workforce analysis
3) Align HR policies
4) Implement HR Analytics
What is Workforce Planning
It ensures that the company has the right people in the right roles to achieve strategic objectives. It involves forecasting future talent need based on the company’s growth plans and the current workforce dynamics
What are the 3 different forecasting methods
Judgmental Methods: subjective input when not enough data (estimates, the Delphi technique, the rule of Thumb)
Mathematical Methods: quantitative techniques (Productivity Ratios, Staffing Ratios, Simulation Models)
Planning periods: forecasting efforts (Short-range plans <3y, Immediate-range plans 1-3y, Long-range plans >3y)
What is the formula for Quantitative Workforce Planning
Current Staffing Flow - Projected Outflows this year + Projected Inflows this year = Internal Supply next year
Give examples of inflows for quantitative workforce planning
External hires, Internal hires, Promotions, Recalls
Give examples of outflows for quantitative workforce planning
Retirement, Turnover, Terminations, Deaths
What is Qualitative Workforce Planning
Help HR identify gaps, plan development
What are the 3 different parts of qualitative workforce planning
Current future job audits
Employee and Organisational Capabilities Inventory
Factors influencing Workforce forecasting
What is Current future job audits in qualitative workforce planning
It means assessing current job roles and identifying future job needs: Existing jobs, number of individuals performing each job, characteristics of anticipated jobs, identifying vital KSAs
What is Employee and Organisational Capabilities Inventory in qualitative workforce planning
It is the planning, training and development part of qualitative workforce planning: employee demographics, career progression, performance data
What is KSA
Knowledge, Skills, Abilities
What are Factors influencing Workforce forecasting in qualitative workforce planning
Individuals entering and leaving workforce
Changing Workforce composition and patterns
Technical developments and shifts
Action of competing employees
