Human Capital

Question 1

Manpower planning

Answer 1

Number, skills, time frame of employment

Question 2

Job Analysis

Answer 2

Determine tasks and responsibilities of each job

Question 3

Job description

Answer 3

Specify job title, and summary including; duties and working conditions

Question 4

Job specification

Answer 4

Qualifications, skills and experience necessary. (used during recruitment)

Question 5

Skills gap

Answer 5

Difference between skills available and skills required.

Question 6

Internal recruitment (adv.)

Answer 6

-Done through transferring or promoting employees
-Advantages: Employee morale improved, More cost effective, Employee performance and attitude is known

Question 7

External recruitment (adv.)

Answer 7

-Done through: Advertising, Approaching educational institutes, Look at walk-in CV’s, Head hunting
-Advantages: New ideas and skills, Opportunity to meet Employment Equity targets (BBBEE), Provide insights on competitors, No conflict among employees for the position

Question 8

Selection Process

Answer 8

1. Business will receive CV’s
2. CV’s compared to prescribed criteria
3. Shortlist is compiled
4. Background and reference check is done
5. Interviews are conducted with predetermined interview guide
6. Possible tests are conducted
   - Work Sample test
   - Medical Examination
7. Candidates are ranked, highest ranking receives job offer
8. Employment contract is signed

Question 9

Placement

Answer 9

Employee must be optimally utilized according to their skill set.

Question 10

Induction

Answer 10

Training given to all new employees
-Includes: Business’ policies and procedures, Introduction to management and staff, Tour of facilities, Precise expectations

Question 11

Advantages of good induction process

Answer 11

-Reduce stress
-Creates positive impression of business
-Prevents wasting time and money
-Staff retention is higher

Question 12

Remunerations (bonuses)

Answer 12

-13th check in contract
-Meeting performance targets
-Profit sharing
-Share options

Question 13

Salary Structures

Answer 13

-Cost plus benefits: Business pays basic salary then makes contributions towards fringe benefits (pension, medical aid, etc.)
-Cost to Company: Only salary provided, no extra contributions. Employee can structure salary package best suited to the employee

Question 14

Training

Answer 14

Process of ensuring employees have specific skills necessary to perform their job.

Question 15

Skills Development

Answer 15

Targets broader range of skills and attitudes that are job specific.

Question 16

Staff Development (5 steps)

Answer 16

1. Identify skills gap
   2.Consider training resource available
   3.Design program describing expected learning outcome
   -Training Methods: On the job, Classroom, E-learning, Workshop, Self-study, Mentor system, Learnership, Blended
2. Evaluate success

Question 17

Employee Evaluation

Answer 17

Productivity and efficiency of employees must be compared to performance targets.

Question 18

Performance Appraisal

Answer 18

Planning Tool: Performance targets contracted
Evaluation Tool: Performance is evaluated
Feedback Tool: Reasons for why targets were/were not met

Question 19

Reasons for employees leaving business

Answer 19

-Unhappy with: management, salary, working conditions, travel time, colleagues
- No job satisfaction
- Lack of opportunities
- Health reasons
- Work-life balance

Question 20

Consequences of high turnover

Answer 20

-Reduced productivity
-Additional work
-Low morale
-Negative public perception