Finance Function and human resources

Question 1

WHat are the 5 steps for HR’s plans to employ new workers?

Answer 1

1. Strategic analysis - Consider overall environment to produce an analysis.
2. Internal analysis - staff audit to identify employee numbers and their skills.
3. Gap analysis - between labour demand and supply. Identifying staff shortfalls and surpluses.
4. Plan to close the labour gap - Shortage (training and promotion, overtime, reducing labour turnover). Surplus (restricting recruitment, part-time working instead of full-time, reduncies as last resort).
5. Review -

Question 2

What are the 5 steps of Recruitment?

Answer 2

1. Perform Job analysis- what job holder is accountable for, content of job, who they report to, promotion and career paths
2. Job design stage - outlining of competences within competency framework.
3. Develop a Job description - set out purpose of job. Job title, location, responsibilities, skills required, typical patterns of work hours.
4. Advertising job vacancies - both internally or externally
5. Initial screening - Review CV’s and select

Question 3

What are the 5 levels of Maslow’s hierarchy of needs? From bottom to top.

Answer 3

1. ) Physiological needs
   2.) Safety needs
   3.) Love/Social Needs’
   4.) Esteem Needs
   5.) Self-actualisation