Chapter 13- Human Resource Managment Flashcards
What is Human Resource Management (HRM)?
HRM is the process of managing employees in an organization to maximize performance and achieve business objectives.
What are the key functions of HRM?
- Human Resource Planning
- Recruitment and Selection
- Training and Development
- Performance Appraisal
- Rewards and Compensation
- Employer-Employee Relations
Why is HRM important?
It ensures that the business has the right people, with the right skills, in the right roles, leading to improved productivity and efficiency.
What is Human Resource Planning (HRP)?
HRP involves forecasting the future staffing needs of a business and ensuring there are enough employees with the right skills.
What are the steps in Human Resource Planning?
- Audit Current Staff
- Forecast Future HR Needs
- Identify Gaps
- Implement HR Plan
What is the difference between recruitment and selection?
Recruitment is the process of attracting suitable candidates for a job, while selection involves choosing the best candidate through interviews and tests.
What are the steps in the recruitment and selection process?
- Job Description
- Person Specification
- Job Advertisement
- Application Process
- Shortlisting
- Interviews/Tests
- Job Offer
What is the difference between training and development?
- Training is focused on improving specific job-related skills.
- Development is broader, aiming to enhance an employee’s long-term career growth.
What are the types of training?
- On-the-Job Training
- Off-the-Job Training
- Induction Training
What are the benefits of training and development?
- Improves employee performance and productivity
- Increases motivation and job satisfaction
- Reduces staff turnover and absenteeism
- Helps employees adapt to changes in technology and processes
What is performance appraisal?
A formal review of an employee’s job performance, usually conducted annually, to assess strengths, weaknesses, and areas for improvement.
What are the methods of performance appraisal?
- Self-Assessment
- Superior Appraisal
- Peer Review
- 360-Degree Feedback
What are the benefits of performance appraisals?
- Identifies training needs
- Motivates employees by recognizing achievements
- Helps with career development and promotions
- Improves communication between managers and staff
What are the types of rewards?
- Financial Rewards
- Non-Financial Rewards
What are the different payment methods?
- Time Rate
- Piece Rate
- Salary
- Commission
- Bonus
What are the benefits of an effective rewards system?
- Encourages high performance and motivation
- Attracts and retains skilled employees
- Reduces staff turnover and increases loyalty
What is the importance of good employer-employee relations?
- Creates a positive work environment
- Reduces conflict and industrial disputes
- Increases employee satisfaction and productivity
How can employers maintain good relationships with employees?
- Effective Communication
- Employee Involvement
- Grievance Procedures
- Compliance with Employment Laws
