Prelims Flashcards
HR is planned based on the current life cycle of the company
Organizational Life Cycle Theory
Focuses on the leader of the org.
Strategic Contingency Theory
What are the stages of a company?
- Birth of the org.
- Growth & Development
- Maturity (peak)
- Decline
- Death (bankruptcy)
All units within the organization are essential. Relies on synergy, interrelations and interdependence between subsystems for success.
General Systems Theory
Costs will arise when you get someone else to do something. Save as much as money as possible. Minimize costs of exchanging resources.
Transaction cost theory
Process of assessment of the current manpower
Human Resource Planning
Basis for recruitment, training and development of staff. Detailed picture of the job.
Job Analysis
Forms the basis of wage and salary determination.
Job Evaluation
Identifies the requirement of personnel and explores resources. Right person is selected and put to work.
Recruitment and Selection
Evaluating performance of employees
Performance Appraisal
Makes employees excel in their present post as well as make them competent for future higher job responsibilities.
Training & Development
Determines the pay structure for employees on the basis of their qualification, efficiency, experience and nature of job
Employee compensation
Encouragement of employees through rewards
Employee motivation
Providing canteen facilities and rest rooms etc
Employee welfare
Addressing grievances of employees
Industrial relation
Ensures healthy intra and inter unit relationship
Organizational development
Assuring alignment of management
Career development