management of people Flashcards
what is internal recruitment
rectruiting existing employees
advertise inside the firm
what is external recruitment
looking for people from outside the firm
what is the selection process
- application forms
- interviews
- testing
- assessment centres
- references
- trial periods
what are the different types of testing
-intelligence/iq testing
- medical test
- attainment tests
- aptitude test
- psychometric test
what are ways to train staff
- apprenticeship
- graduate training schemes
- corporate training schemes
- work-based qualification
- continuing professional development
what is an appraisal
is a discussion that takes place between a manager and an employee to reflect on how well the employee has been performing
what are the types of appraisal
- one to one appraisal
- peer-to-peer appraisal
- 360-degree appraisal
how does a peer-to-peer appraisal work
is when the review interview is carried out by a collegue at equal level
how does a 360 degree appraisal work
the person conducting the appraisal will interview managers and/or fellow employees about the performance of the employee before conducting the appraisal
mastons heirachy of needs
self acetification
esteem
belonging
safety
physiological
what are the two categories of motivation
- financial motivation
- non-financial motivation
what are some basic motivation methods
- fair pay
- payment methods
- permanent contract
- good working conditions
what are some non financial motivation
job enlargement
job rotation
autonomous desicion making
control over working conditions
what are some financial methods of motivation
- commisions
- bonus
- share ownership
- promotion
what are leadership styles
-autocratic
- democratic
- laissez-faire
what is autocratic style
is retained by the leader managers tell employees to do
this limits creativity
what is democratic style
is consultative, the leader respects others opinions and expects feedback
what is laissez faire
the managers dont instruct/supervise but prefer to give tasks and let employees do the rest
what r some factors affecting leadership styles
- the task
- time availability
- skills of staff
- motivation of staff
what does the health and safety at work act (HASAWA) protect
ensures good working conditions, provision of safety equipment
what does the equality act protect
gives ppl the same opportunity
- race n ethnicity
- age
- religion
- marriage
- pregnancy and maternity
- sex
- sexual orientation
- disability
impact of equity act
- policies and procedures in place
- employee training
- accessibility
how is technology used in Human recourses
- technology in hiring staff ( video conferences internet, electronic testing)
- technology in training staff (power points, virtual learning environment)
- day to day management ( e-dairy, databases, ict)
gross profit percentage calc
gross profit
—————— x 100
sales revenue
profit for year percentage
profit for year
——————— x 100
sales revenue
return on equity employed
profit for year
——————– x 100
equity employed
current ratio
current assets : current liabilities
acid test ratio
current assets in closing inventory : current liabilties
rate of inventory turnover
avg inventory
average inventory
adding closing and opening inventory and then divide by two
what is the advantage of ratio analysis
- identify trends overtime
- identify changes in performance
- compare firms against similar organisations
what is the disadvantage of ration analysis
- info is historic
- does not take external factors into consideration
- does not take people issues into account
who are the users of financial information
- stakeholders
- potential stakeholders
- short term trade payable
- long-term trade payables
-government
-competitors
what are 2 benefits of work force planning
gaps in the current staffing can be identified
relevant training can be given
what types of tests are used to test new employees
IQ test
intelligence test
personality test
aptitude test
attainment test
fitness test
medical test
whats an aptitude test
innate skills
what is an attainment test
these test the depth of knowledge of previously learnt skills
how can safety and security be satisfied by the company
the company can provide
safety equipment
can offer job security
fair wage
what is the role of a manager
Plans
Organises
Commands
Control
Delegates
Motivates
