HR decisions Flashcards
What are the 4 key functions of a business
Operations, finance , HR , marketing
What is HR
in charge of an organisations employees and the function they have in within the organisation, it is focused in their activity
What is HRM
Human Resources management is a strategic strategy process of using employees most efficiently to aid in organisations objectives
HR objectives
Training and development
Talent development
Employee engagement
Divestiture
Alignment of values
Number skills and location
Internal influences of HR objectives
Corporate objectives
Available finance
Culture of organisation
External influences of HR objectives
Economic growth
Labour market
Shareholders
Technology
What are the two types of managing in HR
Hard and soft
Soft management
Valuing employees, treat them as individuals
Hard
Treating employees as a resource, transactional, assume they are only motivated by money
Advantages of hard management
Minimises costs
Efficient
Control
Ads of soft management
Employees engagement and motivation, staff retention
KPI
Key performance indicators
What are the KPI’s
Labour productivity
Employee turnover
Labour costs
Labour turnover
Retention rates
Absenteeism
Labour turnover
Measures the percentage of employees that leave a business within a certain time ( usually a year)
Retention rate
Measures the extent to which a business holds on to its employees.
