HR Flashcards
What does the HR department deal with?
-training job applicants
-administering employee benefit schemes
-personel
-inclusion/diversity
What does HR mean?
people of a business regarded as a significant asset in terms of skills and abilities
What is the HR department?
department of a business that deals with the hiring, administration and training of staff
What is an aim?
a long term goal a business sets
What is an objective?
a short term step the business wants to achieve to get towards the long term aim
What are the seven HR objectives?
-labour productivity
-employee engagement and involvement
-talent development
-training
-diversity
-alignment of values
-number, skills and location of employees
What are some internal influences on HR objectives?
-employee relations
-overall performance of business
-organisational structure
-corporate culture
-financial constraints
What are some external influences on HR influences?
-legislation
-actions of competitors
-political factors
-economic factors
-structure of the population
-technological factors
-social factors
What is the Hard HR strategy?
-treats employees as a resource to be monitored and used efficiently in order to achieve strategic objectives
What is the Soft HR strategies?
-treats employees as valuable assets, major source of competitive advantage which is vital in its importance to achieve strategic objectives
What are some key features of the Hard HR approach?
-minimal communication
-little empowerment
-autocratic
-tall organisational structure
-theory X
What are some key features of a Soft HR approach?
-competitive pay
-regular 2 way communication
-democratic
-theory Y
-flat organisational structure
What does labour turnover mean?
proportion of employees leaving a business over a period of time - usually a year
What is the formula for labour turnover?
number of employees leaving over a given period/AVERAGE number employed over the given period
x100
What does retention rates mean?
proportion of employees with a specific length of service (normally one or more years) as a proportion of the total workforce
What is the formula for retention rates?
number of employees with one or more years service/overall workforce numbers x100
What is labour productivity?
measure of the output per worker in a given time period
What is the formula for labour productivity?
output per period / number of employees per period
(measured in output not percentage)
What does labour costs per unit mean?
Measure of the average labour costs involved in producing one unit of output in a given time period
What is the formula for labour costs per unit?
total labour costs / total units of output
(measured in costs not percentage)
What does employee costs as a percentage of revenue (turnover) mean?
measures the percentage of sales revenue to cover labour costs
what is the formula for employee costs as a percentage of revenue?
employee costs / sales revenue x100
What does absenteeism mean?
proportion of employees not at work on a given day
What is the formula for absenteeism?
number of staff absent / number of staff in total x100